Common use of Daily Procedure Clause in Contracts

Daily Procedure. On each Run Off Day occurring in any Yield Period for an Undivided Interest, Servicer shall set aside and hold in trust for 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 if a Termination Event has occurred and is continuing, deposit such Collections within one Business Day of Servicer's receipt thereof into a bank account acceptable to the Administrative Agent in which no other funds shall be deposited.

Daily Procedure. On each Run Off Day occurring in any Yield Period for an Undivided InterestSettlement Period, Servicer shall set aside and hold in trust for Purchaser Purchaser's the Purchasers the Purchasers' 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 a the Administrative Agent's Account or to another bank account acceptable to the Administrative Agent Required Purchasers in which no other funds shall be deposited.