Common use of Daily Procedure Clause in Contracts

Daily Procedure. On each day, the Servicer shall, out of the Collections received or deemed received by the SPV and after return of any Excluded Amounts received in error, any of the Originators or the Servicer (including in any Blocked Account) on such day: (i) hold in trust for the benefit of the Agent (on behalf of each Managing Agent and such Managing Agents’ Investor Groups) an amount equal to the aggregate of the Yield and the Program Fee, in each case for the related Rate Period accrued through such day for all Portions of Investment, the Facility Fee and the Servicing Fee accrued through such day, and any other Aggregate Unpaids (other than Net Investment not then due and owing) accrued through such day and not previously held in trust (and which are then due); (ii) hold in trust for the benefit of the Agent (on behalf of each Managing Agent and such Managing Agents’ Investor Groups) an amount equal to the excess, if any, of: (A) the greatest of: (1) if the SPV shall have elected to reduce the Net Investment under Section 2.13, the amount of the proposed reduction, (2) the amount, if any, by which the sum of the Net Investment and Required Reserves shall exceed the Net Pool Balance, together with the amount, if any, by which the Net Investment shall exceed the Maximum Net Investment, and (3) if such day is on or after the Termination Date, the Net Investment; over (B) the aggregate of the amounts theretofore set aside and then so held for the benefit of the Managing Agents (on behalf of such Managing Agents’ Investor Groups) pursuant to this clause (ii); and (iii) pay the remainder, if any, of such Collections to the SPV for application to Reinvestment, for the benefit of the Agent (for the benefit of the Investor), in the Receivables and other Affected Assets in accordance with Section 2.2(b). To the extent and for so long as such Collections may not be reinvested pursuant to Section 2.2(b), the Servicer shall hold such Collections in trust for the benefit of the Agent (for the benefit of the Investors).

Daily Procedure. On each dayBusiness Day, the Master Servicer shall, out of the Collections of Receivables received or deemed received by the SPV and after return of any Excluded Amounts received in error, any of the Originators or the Master Servicer (including in any Blocked Account) on such daysince the immediately preceding Business Day: (i) set aside and hold in trust for the benefit of the Agent (Administrative Agent, on behalf of each Managing Agent and such Managing Agents’ Investor Groups) the Funding Agents for the benefit of the Investors, an amount equal to the aggregate of the Yield and the Program Fee, Servicing Fee in each case for the related Rate Period accrued through such day for all Portions of Investment, the Facility Fee and the Servicing Fee accrued through such day, Investment and any other Aggregate Unpaids (other than Net Investment not then due and owingInvestment) accrued through such day and in each case not previously held in trust (and which are then due);set aside; and (ii) set aside and hold in trust for the benefit of the Administrative Agent (on behalf of each Managing Agent and such Managing Agents’ Investor Groups) the Funding Agents for the benefit of the Investors an amount equal to the excess, if any, of: (A) the greatest of: (1) if the SPV shall have elected to reduce the Net Investment under Section 2.13, the amount of the proposed reduction, (2) the amount, if any, by which the sum of the Net Investment and Required Reserves shall exceed the Net Pool Balance, together with the amount, if any, by which the Net Investment shall exceed the Maximum Net Investment, and (3) if such day is on or after the Termination Date (other than a Special Termination Date), the Net Investment, and (4) if such day is on or after a Special Termination Date, the aggregate of the Net Investments held by such Investor(s) with respect to which such Special Termination Date has occurred; over (B) the aggregate of the amounts theretofore set aside and then so held for the benefit of the Managing Agents (on behalf of such Managing Agents’ Investor Groups) Administrative Agent pursuant to this clause (ii); and (iii) pay the remainder, if any, of such Collections to the SPV for application to Reinvestment, for the benefit of the Agent (Administrative Agent, on behalf of the Funding Agents for the benefit of the Investor)Investors, in the Receivables and other Affected Assets in accordance with Section 2.2(b). To the extent and for so long as such Collections may not be reinvested pursuant to Section 2.2(b), the Master Servicer shall set aside and hold such Collections in trust for the benefit of the Agent (for the benefit of the Investors)Administrative Agent.

Daily Procedure. On each day, the Servicer shall, out of the Collections received or deemed received by the SPV and after return of any Excluded Amounts received in error, any of the Originators or the Servicer (including in any Blocked Account) on such day: (i) hold in trust for the benefit of the Agent Managing Agents (on behalf of each Managing Agent and such Managing Agents’ Investor Groups) an amount equal to the aggregate of the Yield (which, in the case of Yield computed by reference to the CP Rate, shall be determined for such purpose using the CP Rate most recently determined by the applicable Administrator, multiplied by the Fluctuation Factor) and the Program Fee, in each case for the related Rate Period accrued through such day for all Portions of Investment, the Facility Fee and the Servicing Fee accrued through such day, and any other Aggregate Unpaids (other than Net Investment not then due and owing) accrued through such day and not previously held in trust (and which are then due); (ii) hold in trust for the benefit of the Agent Managing Agents (on behalf of each Managing Agent and such Managing Agents’ Investor Groups) an amount equal to the excess, if any, of: (A) the greatest of: (1) if the SPV shall have elected to reduce the Net Investment under Section 2.13, the amount of the proposed reduction, (2) the amount, if any, by which the sum of the Net Investment and Required Reserves shall exceed the Net Pool Balance, together with the amount, if any, by which the Net Investment shall exceed the Maximum Net Investment, and (3) if such day is on or after the Termination Date, the Net Investment; over (B) the aggregate of the amounts theretofore set aside and then so held for the benefit of the Managing Agents (on behalf of such Managing Agents’ Investor Groups) pursuant to this clause (ii); and (iii) pay the remainder, if any, of such Collections to the SPV for application to Reinvestment, for the benefit of the Agent (for the benefit of the Investor), in the Receivables and other Affected Assets in accordance with Section 2.2(b). To the extent and for so long as such Collections may not be reinvested pursuant to Section 2.2(b), the Servicer shall hold such Collections in trust for the benefit of the Agent (for the benefit of the Investors).

Daily Procedure. On each day, the Servicer shall, out of the Collections of Pool Receivables received or deemed received by the SPV and after return of any Excluded Amounts received in error, any of the Originators or the Servicer (including in any Blocked Account) on such day: (i) hold in trust for the benefit of the Agent (on behalf of each Managing Agent and such Managing Agents’ Investor Groups) an amount equal to the aggregate of the Yield and the Program Fee(which, in each the case of Yield computed by reference to the CP Rate, shall be determined for such purpose using the related CP Rate Period most recently determined by the Administrator, MULTIPLIED BY the Fluctuation Factor) and Servicing Fee accrued through such day for all Portions Portion of Investment, the Facility Fee and the Servicing Fee accrued through such day, Investment and any other Aggregate Unpaids (other than Net Investment not then due and owingInvestment) accrued through such day and not previously held in trust (and which are then due);set aside; and (ii) set aside and hold in trust for the benefit of the Agent (on behalf of each Managing Agent and such Managing Agents’ Investor Groups) an amount equal to the excess, if any, of: (A) the greatest of: (1) if the SPV shall have elected to reduce the Net Investment under Section SECTION 2.13, the amount of the proposed reduction, (2) the amount, if any, by which the sum of the Net Investment and Required Reserves shall exceed the Net Pool BalanceADCB (MINUS any portion of the Required Reserves attributable to such excess), together with the amount, if any, by which the Net Investment shall exceed the Maximum Net Investment, and (3) if such day is on or after the Termination Date, the Net Investment; overOVER (B) the aggregate of the amounts theretofore set aside and then so held for the benefit of the Managing Agents (on behalf of such Managing Agents’ Investor Groups) Agent pursuant to this clause CLAUSE (ii); and (iii) pay the remainder, if any, of such Collections to the SPV for application to Reinvestment, for the benefit of the Agent (for the benefit of the Investor)Agent, in the Pool Receivables and other Affected Assets in accordance with Section SECTION 2.2(b). To the extent and for so long as such Collections may not be reinvested pursuant to Section SECTION 2.2(b), the Servicer shall hold such Collections in trust for the benefit of the Agent (for the benefit of the Investors)Agent.

Daily Procedure. On each day, the Servicer shall, out of the Collections of Receivables received or deemed received by the SPV and after return of any Excluded Amounts received in error, any of the Originators Originator or the Servicer (including in any Blocked Account) on such day: (i) hold in trust for the benefit of the Agent (on behalf of each Managing Agent and such Managing Agents’ Investor Groups) an amount equal to the aggregate of the Yield and the Program Fee(which, in each the case of Yield computed by reference to the CP Rate, shall be determined for such purpose using the related CP Rate Period most recently determined by the Administrator, multiplied by the Fluctuation Factor) and Servicing Fee accrued through such day for all Portions of Investment, the Facility Fee and the Servicing Fee accrued through such day, Investment and any other Aggregate Unpaids (other than Net Investment not then due and owingany Unreimbursed Amounts) accrued through such day and not previously held in trust (and which are then due);set aside; provided, that at any time the amount of the Net Investment is zero, the Servicer may retain for itself on each day the Servicing Fee accrued through such day for all Portions of Investment and (ii) set aside and hold in trust for the benefit of the Agent (on behalf of each Managing Agent and such Managing Agents’ Investor Groups) an amount equal to the excess, if any, of: (A) the greatest of: (1) if the SPV Originator shall have elected to reduce the Net Investment under Section 2.132.14, the amount of the proposed reduction, (2) the amount, if any, by which the sum of the Net Investment and the L/C Participation Amount and Required Reserves shall exceed the sum of the Net Pool BalanceBalance and the Cash Collateralized Amount (minus any portion of the Required Reserves attributable to such excess), together with the amount, if any, by which the sum of the Net Investment plus the L/C Participation Amount shall exceed the Maximum Net Investment, and (3) if such day is on or after the Termination Date, the Net InvestmentInvestment plus the aggregate Unreimbursed Amounts plus (unless (i) the Termination Date has occurred as a result of the non-extension or renewal of the Commitment Termination Date and (ii) no Post Termination Trigger Event has occurred) the L/C Participation Amount; over (B) the aggregate of the amounts theretofore set aside and then so held for the benefit of the Managing Agents (on behalf of such Managing Agents’ Investor Groups) Agent pursuant to this clause (ii); and (iii) pay the remainder, if any, of such Collections to the SPV Originator for application to Reinvestment, for the benefit of the Agent (for the benefit of the Investor)Agent, in the Receivables and other Affected Assets in accordance with Section 2.2(b). To the extent and for so long as such Collections may not be reinvested pursuant to Section 2.2(b), the Servicer shall hold such Collections in trust for the benefit of the Agent (for the benefit of the Investors)Agent.

Daily Procedure. On each day, the Servicer shall, out of the Collections of Receivables received or deemed received by the SPV and after return of any Excluded Amounts received in error, any of the Originators or the Servicer (including in any Blocked Account) on such day: (i) hold in trust for the benefit of the Agent (on behalf of each Managing Agent and such Managing Agents’ Investor Groups) Agents an amount equal to the aggregate of the Yield and the Program Fee, in each case for the related Rate Period Servicing Fee accrued through such day for all Portions of Investment, the Facility Fee and the Servicing Fee accrued through such day, Investment and any other Aggregate Unpaids (other than Net Investment not then due and owingInvestment) accrued through such day and not previously held in trust (and which are then due);set aside; and (ii) set aside and hold in trust for the benefit of the Agent (on behalf of each Managing Agent and such Managing Agents’ Investor Groups) Agents an amount equal to the excess, if any, of: (A) the greatest of: (1) if the SPV shall have elected to reduce the Net Investment under Section 2.13, the amount of the proposed reduction, (2) the amount, if any, by which the sum of the Net Investment and Required Reserves shall exceed the Net Pool BalanceBalance (minus any portion of the Required Reserves attributable to such excess), together with the amount, if any, by which the Net Investment shall exceed the Maximum Net Investment, and (3) if such day is on or after the Termination Date, the Net Investment; over (B) the aggregate of the amounts theretofore set aside and then so held for the benefit of the Managing Agents (on behalf of such Managing Agents’ Investor Groups) pursuant to this clause (ii); and (iii) pay the remainder, if any, of such Collections to the SPV for application to Reinvestment, for the benefit of the Agent Managing Agents, pro rata, based on their respective Investor Group's interests in the Asset Interest (for the benefit of the Investoras determined in accordance with Section 2.1(b), ) in the Receivables and in other Affected Assets in accordance with Section 2.2(b). To the extent and for so long as such Collections may not be reinvested pursuant to Section 2.2(b), the Servicer shall hold such Collections in trust for the benefit of the Agent (for the benefit of the Investors)Managing Agents.

Daily Procedure. On each day, for settlement on the next Settlement Date and Optional Reduction Date, as applicable, the Servicer shall, out of the Collections and any other amounts received with respect to the Receivables, received or deemed received by the SPV and after return of any Excluded Amounts received in errorAgent or the Servicer, any of the Originators Originators, Colliers, the SPV or the Servicer (including in any Blocked Account) on such day: (i) hold in trust for the benefit of the Agent Managing Agents (on behalf of each Managing Agent and such Managing Agents’ Investor Groups) an amount equal to the aggregate of the unpaid Yield (which, in the case of Yield computed by reference to the CP Rate, shall be determined for such purpose using the CP Rate most recently determined by the applicable Managing Agent) and the Program Fee, in each case for the related Rate Period accrued through such day for all Portions of Investmentthe Rate Tranches, the Facility Fee and the Servicing Fee accrued through such day, and any other Aggregate Unpaids (other than Net Investment not then due and owing) accrued through such day and not previously held in trust (and which are then due)trust; (ii) hold in trust for the benefit of the Agent Managing Agents (on behalf of each Managing Agent and such Managing Agents’ Investor Groups) an amount equal to the excess, if any, of: (A) the greatest of: (1) if the SPV shall have elected to reduce the Net Investment under Section 2.13, the amount of the proposed reduction, (2) without duplication of any amount held in trust pursuant to Section 2.12(a)(ii)(A)(2) of the U.S. Transfer Agreement, the amount, if any, by which the sum of the Aggregate Net Investment and Required Reserves shall exceed the Net Pool Balance, together with the amount, if any, by which the sum of the Net Investment and the product to the Canadian Share and the Required Reserves shall exceed the Maximum product of the Canadian Share and the Net Investment, Pool Balance on such day; and (3) if such day is on or after the Termination Date, the Net Investment; over (B) the aggregate of the amounts theretofore set aside and then so held for the benefit of the Managing Agents (on behalf of such Managing Agents’ Investor Groups) pursuant to this clause (ii); ; (iii) hold in trust for the U.S. Agent on behalf of the U.S. Secured Parties (other than the Agent), amounts which the U.S. Servicer is required to hold in trust under Section 2.12(a) of the U.S. Transfer Agreement which are not otherwise being held in trust thereunder: and (iiiiv) pay the remainder, if any, of such Collections to the SPV for (A) first, application to Reinvestment, for the benefit of the Agent (for the benefit of the InvestorInvestors), in the Receivables and other Affected Assets in accordance with Section 2.2(b), and (B) second, application to reduction of the Aggregate DPP, for the benefit of the Agent (for the benefit of the Investors), in accordance with Section 2.2(c), in each case as directed by the SPV. To the extent and for so long as such Collections may not be reinvested pursuant to Section 2.2(b)) or applied to the repayment of the Aggregate DPP, the Servicer shall hold such Collections in trust for the benefit of the Agent (for the benefit of the Investors).

Daily Procedure. On each dayday during the Reinvestment Period, the --------------- Servicer shallshall deem an amount equal to the Purchaser's Share of Collections of Pool Receivables received or deemed received on such day to be received in respect of the Purchaser's Interest, and, out of the Collections received or deemed received by the SPV and after return Purchaser's Share of any Excluded Amounts received in errorsuch Collections, any of the Originators or the Servicer (including in any Blocked Account) on such dayshall: (i) hold in trust for the benefit of the Agent Purchaser (on behalf of each Managing Agent and such Managing Agents’ Investor Groupsin accordance with Section 3.06) an amount equal to (A) the sum of (I) the ------------ aggregate unpaid Earned Discount accrued and scheduled to accrue for each Rate Tranche during the related Yield Period, and (II) the aggregate of the Yield aggregate unpaid Facility Fee accrued and scheduled to accrue during such calendar month and the Program Fee, in each case for the related Rate Period accrued through such day for all Portions of Investment, the Facility Fee and the Servicing aggregate Servicer's Fee accrued and unpaid through such day, less (B) the amount, if any, theretofore set aside and any other Aggregate Unpaids (other than Net Investment not then due so ---- held for the benefit of the Purchaser in respect of such Earned Discount, Facility Fee and owing) accrued through such day and not previously held in trust (and which are then due)Servicer's Fee; (ii) set aside and hold in trust for the benefit of the Agent Purchaser (on behalf of each Managing Agent and such Managing Agents’ Investor Groupsin accordance with Section 3.06) an amount equal to the excess, if any, of:of ------------ (A) the greatest of: (1I) if the SPV Seller shall have elected to reduce the Net Purchaser's Investment under Section 2.133.04, the amount of the ------------ proposed reduction, (2II) if the amount, if any, by which the sum of the Net Investment and Required Reserves shall exceed the Net Pool Balance, together with the amount, if any, by which the Net Purchaser's Investment shall exceed the Maximum Net Investment, the amount of such excess, (III) if the Purchaser's Percentage shall exceed the Maximum Percentage, an amount equal to the minimum reduction of the Purchaser's Investment which (based on the Purchaser Rates currently in effect, and assuming that such reduction will be applied to reduce the Purchaser's Tranche Investments of the Rate Tranches having the shortest remaining Yield Periods) would result in the Purchaser's Percentage being no greater than the Maximum Percentage, and (3IV) if such day is on or after any of the Termination Dateconditions precedent to Reinvestment set forth in Section 5.02 shall not be met, the Net ------------ Purchaser's Investment; over, over ---- (B) the aggregate of the amounts theretofore set aside and then so held for the benefit of the Managing Agents (on behalf of such Managing Agents’ Investor Groups) Purchaser pursuant to this clause ------ (ii); andand ---- (iii) subject to Section 5.02, pay the remainder, if any, of ------------ such Collections to the SPV Seller for application to Reinvestment, for the benefit of the Agent (for the benefit of the Investor)Purchaser, in the Receivables and other Affected Assets Purchaser's Interest in accordance with Section 2.2(b1.01(b). To --------------- The Servicer shall, first, apply the extent and for so long as Seller's Share of such Collections may not be reinvested pursuant to Section 2.2(b)the ----- payment of any other amounts (other than Earned Discount and Purchaser's Investment) then due to the Purchaser or the Agent and, second, pay any ------ remaining portion of the Servicer shall hold Seller's Share of such Collections in trust for to the benefit of the Agent (for the benefit of the Investors)Seller.

Daily Procedure. On each day, the Servicer shall, out of the Collections of Receivables received or deemed received by the SPV and after return of any Excluded Amounts received in error, any of the Originators or the Servicer (including in any Blocked Account) on such day: (i) hold in trust for the benefit of the Agent (on behalf of each Managing Agent and such Managing Agents’ Investor Groups) Class Agents an amount equal to the aggregate of the aggregate Yield and the Program Fee, in each case for the related Rate Period Servicing Fee accrued through such day for all Portions Portion of Investment, the Facility Fee and the Servicing Fee accrued through such day, Investment and any other Aggregate Unpaids (other than Aggregate Net Investment not then due and owingInvestment) accrued through such day and not previously held in trust (and which are then due);set aside; and (ii) set aside and hold in trust for the benefit of the Agent (on behalf of each Managing Agent and such Managing Agents’ Investor Groups) an amount equal to the excess, if any, of: (A) the greatest of: (1) if the SPV shall have elected to reduce the Aggregate Net Investment under Section 2.13, the amount of the proposed reduction, (2) the amount, if any, by which the sum of the Aggregate Net Investment and plus Required Reserves shall exceed the Net Pool BalanceBalance (minus any portion of the Required Reserves attributable to such excess), together with the amount, if any, by which the each Class Net Investment shall exceed the Maximum Net InvestmentInvestment for such Class, and (3) if such day is on or after the Termination Date, the Aggregate Net Investment; over (B) the aggregate of the amounts theretofore set aside and then so held for the benefit of the Managing Agents (on behalf of such Managing Agents’ Investor Groups) Agent pursuant to this clause (ii); and (iii) pay the remainder, if any, of such Collections to the SPV for application to Reinvestment, for the benefit of the Agent (for the benefit of the Investor)Agent, in the Receivables and other Affected Assets in accordance with Section 2.2(b). To the extent and for so long as such Collections may not be reinvested pursuant to Section 2.2(b), the Servicer shall hold such Collections in trust for the benefit of the Agent Agents (for the benefit of the Investors).

Daily Procedure. On each dayday (other than a Run Off Day) in any Yield Period for any Undivided Interest, Servicer shall deem an amount equal to the Servicer shall, out Purchaser's Share but not in excess of the Aggregate Purchaser's Share (as determined in SECTION 2.4) of Collections of Pool Receivables received or deemed received by the SPV and after return of any Excluded Amounts on such day to be received in error, any respect of the Originators or the Servicer (including in any Blocked Account) on such day:Undivided Interest; and (i) out of the Purchaser's Share of such Collections, hold in trust for the benefit of the Agent (on behalf Purchaser or the Bank Investors, as the case may be, of each Managing Agent and such Managing Agents’ Investor Groups) Undivided Interest an amount equal to the aggregate of the Yield and the Program Fee, in each case for the related Rate Period accrued through such day for all Portions of Investment, the Facility Fee and the Servicing Fee accrued through such day, and any other Aggregate Unpaids (other than Net Investment not then due and owing) accrued through such day and not previously held in trust (and which are then due);related (ii) hold in trust for the benefit of the Agent (on behalf of each Managing Agent and such Managing Agents’ Investor Groups) apply an amount equal to the excess, if any, of: remainder of the Purchaser's Share of such Collections (Athe "REMAINING COLLECTIONS") the greatest of: (1) if the SPV shall have elected to reduce the Net Purchaser's Investment under Section 2.13, the amount of the proposed reduction, (2) the amount, if any, by which the sum of the Net Investment and Required Reserves shall exceed the Net Pool Balance, together with the amount, if any, by which the Net Investment shall exceed the Maximum Net Investment, and (3) if such day is on or after the Termination Date, the Net Investment; over (B) the aggregate of the amounts theretofore set aside and then so held for the benefit of the Managing Agents (on behalf of such Managing Agents’ Investor Groups) pursuant Undivided Interest (it being understood that such amount need not be physically paid to the Purchaser or the Bank Investors under this clause CLAUSE (iiII); and), (iii) pay the remaindersubject to SECTION 3.3, if anyafter such reduction, of (A) apply such Remaining Collections to the SPV for application to Reinvestment, for the benefit of the Agent (for Purchaser or the benefit Bank Investor, as the case may be, of additional undivided interests in Pool Receivables by recomputation of such Undivided Interest pursuant to SECTION 2.1 as of the Investor)end of such day, thereby increasing the Purchaser's Investment, and (B) pay to the Transferor such Remaining Collections. The recomputed Undivided Interest shall constitute the percentage ownership interest in Pool Receivables on such day held by the Receivables and other Affected Assets in accordance Purchaser or the Bank Investors, as the case may be, with Section 2.2(b). To the extent and for so long as regard to such Collections may not be reinvested pursuant to Section 2.2(b), the Servicer shall hold such Collections in trust for the benefit of the Agent (for the benefit of the Investors)Undivided Interest.

Daily Procedure. On each day, the Servicer Collection Agent shall, out of the Collections received or deemed received by the SPV and after return of any Excluded Amounts received in error, any of the Originators Seller or the Servicer (including in any Blocked Account) Collection Agent on such day: (i) deposit into the Bank of America Interest Account, for the benefit of the Agent on behalf of the Secured Parties, an amount equal to the Yield (which, in the case of Yield computed by reference to the CP Rate, shall be determined for such purpose using the Federal Funds Rate), Collection Agent Fee accrued through such day for all Portion of Investment and any other Aggregate Unpaids (other than Net Investment), net of any Aggregate Unpaids not yet accrued as of such date and all such amounts shall remain in the Bank of America Interest Account until the next Settlement Date; provided, that upon the occurrence of a Level II Trigger Event, all such funds shall be deposited into the Deutsche Bank Interest Account and shall remain therein until the next Settlement Date; (ii) set aside and hold in trust for the benefit of the Agent (on behalf of each Managing Agent and such Managing Agents’ Investor Groups) an amount equal to the aggregate of the Yield and the Program Fee, in each case for the related Rate Period accrued through such day for all Portions of Investment, the Facility Fee and the Servicing Fee accrued through such day, and any other Aggregate Unpaids (other than Net Investment not then due and owing) accrued through such day and not previously held in trust (and which are then due); (ii) hold in trust for the benefit of the Agent (on behalf of each Managing Agent and such Managing Agents’ Investor Groups) Secured Parties an amount equal to the excess, if any, of: (A) the greatest of: (1) if the SPV Seller shall have elected to reduce the Net Investment under Section 2.13, the amount of the proposed reduction; provided that in the event the Seller shall have, pursuant to Section 2.13, elected to use its cash paid in capital to reduce the Net Investment, the Collection Agent shall set aside, from the capital of the Seller, an amount equal to such reduction as if such amount were being set aside from Collections, (2) the amount, if any, by which the sum of Required Net Receivables Pool Balance exceeds the Net Investment and Required Reserves shall exceed the Net Receivables Pool Balance, together with the amount, if any, by which the Net Investment shall exceed the Maximum Net InvestmentFacility Limit, and (3) if such day is on or after the Termination Date, the Net Investment; over (B) the aggregate of the amounts theretofore previously set aside and then currently so held for the benefit of the Managing Agents (Agent on behalf of such Managing Agents’ Investor Groups) the Secured Parties pursuant to this clause (ii); and (iii) pay the remainderremainder of such Collections, if any, after the application of such Collections clauses (i) and (ii) above to the SPV Seller for application to Reinvestment, for the benefit of the Agent (for the benefit on behalf of the Investor)Secured Parties, in the Receivables and other Affected Assets in accordance with Section 2.2(b). To the extent and for so long as such Collections may not be reinvested pursuant to Section 2.2(b), the Servicer Collection Agent shall hold such Collections in trust for the benefit of the Agent (for the benefit on behalf of the Investors)Secured Parties.

Daily Procedure. On each day, for settlement on the next Settlement Date and Optional Reduction Date, as applicable, the Servicer shall, out of the Collections and any other amounts received with respect to the Receivables, received or deemed received by the SPV and after return of any Excluded Amounts received in errorAgent or the Servicer, any of the Originators Originators, any of the Originating Subsidiaries, Colliers, the SPV or the Servicer (including in any Blocked Account) on such day: (i) hold in trust for the benefit of the Agent Managing Agents (on behalf of each Managing Agent and such Managing Agents’ Investor Groups) an amount equal to the aggregate of the unpaid Yield (which, in the case of Yield computed by reference to the CP Rate, shall be determined for such purpose using the CP Rate most recently determined by the applicable Managing Agent) and the Program Fee, in each case for the related Rate Period accrued through such day for all Portions of Investmentthe Rate Tranches, the Facility Unused Fee and the Servicing Fee accrued through such day, and any other Aggregate Unpaids (other than Net Investment not then due and owing) accrued through such day and not previously held in trust (and which are then due)trust; (ii) hold in trust for the benefit of the Agent Managing Agents (on behalf of each Managing Agent and such Managing Agents’ Investor Groups) an amount equal to the excess, if any, of: (A) the greatest of: (1) if the SPV shall have elected to reduce the Net Investment under Section 2.13, the amount of the proposed reduction, (2) without duplication of any amount held in trust pursuant to Section 2.12(a)(ii)(A)(2) of the CF Transfer Agreement, the amount, if any, by which the sum of the Aggregate Net Investment and Required Reserves shall exceed the Net Pool Balance, together with the amount, if any, by which the sum of the Net Investment and the product to the U.S. Share and the Required Reserves shall exceed the Maximum product of the U.S. Share and the Net Investment, Pool Balance on such day; and (3) if such day is on or after the Termination Date, the Net Investment; over (B) the aggregate of the amounts theretofore set aside and then so held for the benefit of the Managing Agents (on behalf of such Managing Agents’ Investor Groups) pursuant to this clause (ii); ; (iii) hold in trust for the CF Agent on behalf of the CF Secured Parties (other than the Agent), amounts which the CF Servicer is required to hold in trust under Section 2.12(a) of the CF Transfer Agreement which are not otherwise being held in trust thereunder: and (iiiiv) pay the remainder, if any, of such Collections to the SPV for (A) first, application to Reinvestment, for the benefit of the Agent (for the benefit of the InvestorInvestors), in the Receivables and other Affected Assets in accordance with Section 2.2(b), and (B) second, application to reduction of the Aggregate DPP, for the benefit of the Agent (for the benefit of the Investors), in accordance with Section 2.2(c), in each case as directed by the SPV. To the extent and for so long as such Collections may not be reinvested pursuant to Section 2.2(b)) or applied to the repayment of the Aggregate DPP, the Servicer shall hold such Collections in trust for the benefit of the Agent (for the benefit of the Investors).

Daily Procedure. On each day, the Servicer shall, out of the Collections received or deemed received by the SPV and after return of any Excluded Amounts received in error, any of the Originators or the Servicer (including in any Blocked Account) on such day: (i) hold in trust for the benefit of the Agent Managing Agents (on behalf of each Managing Agent and such Managing Agents’ Investor Groups) an amount equal to the aggregate of the Yield (which, in the case of Yield computed by reference to the CP Rate, shall be determined for such purpose using the CP Rate most recently determined by the applicable Administrator, multiplied by the Fluctuation Factor) and the Program Fee, in each case for the related Rate Period accrued through such day for all Portions of Investment, the Facility Fee and the Servicing Fee accrued through such day, and any other Aggregate Unpaids (other than Net Investment not then due and owing) accrued through such day and not previously held in trust (and which are then due); (ii) hold in trust for the benefit of the Agent Managing Agents (on behalf of each Managing Agent and such Managing Agents’ Investor Groups) an amount equal to the excess, if any, of: (A) the greatest of: (1) if the SPV shall have elected to reduce the Net Investment under Section 2.13, the amount of the proposed reduction,, 39 (2) the amount, if any, by which the sum of the Net Investment and Required Reserves shall exceed the Net Pool Balance, together with the amount, if any, by which the Net Investment shall exceed the Maximum Net Investment, and (3) if such day is on or after the Termination Date, the Net Investment; over (B) the aggregate of the amounts theretofore set aside and then so held for the benefit of the Managing Agents (on behalf of such Managing Agents’ Investor Groups) pursuant to this clause (ii); and (iii) pay the remainder, if any, of such Collections to the SPV for application to Reinvestment, for the benefit of the Agent (for the benefit of the Investor), in the Receivables and other Affected Assets in accordance with Section 2.2(b). To the extent and for so long as such Collections may not be reinvested pursuant to Section 2.2(b), the Servicer shall hold such Collections in trust for the benefit of the Agent (for the benefit of the Investors).

Daily Procedure. On each dayday (other than an Investment Reduction Day), Servicer shall be deemed to have received an amount equal to the Servicer shall, out Purchaser's Share of Collections of Portfolio Receivables that are deposited in the Collections received or deemed received by the SPV and after return of any Excluded Amounts received in error, any of the Originators or the Servicer (including in any Blocked Account) Lock-box Accounts on such day:day in respect of all Participations; and (i) Servicer may transfer from the Lock-box Accounts to the Collection Account (or may apply in accordance with Section 7.03(g)) the Seller's share of Collections in an amount equal to the excess of (A) the aggregate Collections deposited in the Lock-box Accounts on such day over (B) the Purchaser's Share of such Collections for all Participations, (ii) out of the portion of the Purchaser's Share of such Collections that is allocable to each respective Participation, Servicer shall hold in trust for the benefit of Purchaser and shall transfer to the Agent Liquidation Account (on behalf of each Managing Agent and such Managing Agents’ Investor Groupsor may retain in one or more Lock-box Accounts) an amount equal to the aggregate of Earned Yield on the Yield Investment in such Participation accrued to (and the Program Fee, in each case for the related Rate Period accrued through such day for all Portions of Investment, the Facility Fee and the Servicing Fee accrued through such day, and any other Aggregate Unpaids (other than Net Investment not then due and owingincluding) accrued through such day and not previously held so transferred to the Liquidation Account as aforesaid, (iii) Out of the portion of the Purchaser's Share of such Collections that is allocable to each respective Participation, Servicer shall transfer to its own account at its convenience, but in trust any event within five (5) days, the amount of the Servicer's Fee allocated to such Participation (as determined in accordance with Section 2.05(b)) which has accrued to (and including) such day but which are then due);has not previously been transferred to Servicer's account as aforesaid, (iiiv) hold in trust for the benefit of the Agent (on behalf of each Managing Agent and such Managing Agents’ Investor Groups) Servicer shall apply an amount equal to the excess, if any, of: (A) remainder of the greatest of: (1) if portion of the SPV shall have elected Purchaser's Share of such Collections that is allocable to each respective Participation to reduce the Net Investment in each such Participation, such amount to be applied pro rata in accordance with the amount of each such Investment before such reduction (it being understood that such amount need not be physically paid to Purchaser under this clause (iv)), (v) After such reduction, but subject to Section 2.133.04(b), the amount referred to in the foregoing clause (iv) with respect to each Investment shall be reinvested by Servicer by means of a Reinvestment in the related Participation, thereby increasing the Investment in such Participation and causing a recomputation of such Participation pursuant to Section 2.01 as of the proposed reduction, (2) the amount, if any, by which the sum end of the Net Investment and Required Reserves shall exceed the Net Pool Balance, together with the amount, if any, by which the Net Investment shall exceed the Maximum Net Investmentsuch day, and (3vi) if After any such day is on or after Reinvestment, Servicer may transfer from the Termination Date, Lock-box Accounts to the Net Investment; over (B) Collection Account the aggregate of amount referred to in the amounts theretofore set aside and then so held for the benefit of the Managing Agents (on behalf of such Managing Agents’ Investor Groups) pursuant to this foregoing clause (ii); and (iii) pay the remainder, if any, of such Collections to the SPV for application to Reinvestment, for the benefit of the Agent (for the benefit of the Investorv), in the Receivables and other Affected Assets in accordance with or may apply such amount to make Restricted Payments permitted by Section 2.2(b). To the extent and for so long as such Collections may not be reinvested pursuant to Section 2.2(b), the Servicer shall hold such Collections in trust for the benefit of the Agent (for the benefit of the Investors7.03(f).