Common use of Daily Procedure Clause in Contracts

Daily Procedure. On each Run Off Day occurring in any Settlement Period, Servicer shall set aside and hold in trust for the Purchasers the Purchasers' Share of the Collections of Pool Receivables for such Run Off Day and shall, if requested by the Administrative Agent or the Required Purchasers or if a Termination Event has occurred and is continuing, deposit such Collections within one Business Day of Servicer's receipt thereof into the Administrative Agent's Account or to another bank account acceptable to the Required Purchasers in which no other funds shall be deposited.

Daily Procedure. On each Run Off Day occurring in any Settlement PeriodYield Period for an Undivided Interest, Servicer shall set aside and hold in trust for the Purchasers the Purchasers' Purchaser Purchaser's Share of the Collections of Pool Receivables in respect of such Undivided Interest for such Run Off Day and shall, if requested by the Administrative Agent or the Required Purchasers or if a Termination Event has occurred and is continuing, deposit such Collections within one Business Day of Servicer's receipt thereof into the Administrative Agent's Account or to another a bank account acceptable to the Required Purchasers Administrative Agent in which no other funds shall be deposited.