Deposits to Blocked Accounts. No Originator shall deposit or otherwise credit, or cause or permit to be so deposited or credited, any Excluded Amounts to the Collection Account. If Excluded Amounts (including any inadvertent deposits) are deposited into any Blocked Account, the applicable Originator(s) will promptly identify such Excluded Amounts for segregation and removal from such Blocked Account. Other than as permitted in the foregoing sentence, no Originator will, or will permit any other Person to, commingle Collections or other funds to which the SPV or any other Secured Party is entitled with any other Excluded Amounts.
Deposits to Blocked Accounts. Neither the SPV nor the Servicer shall deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Blocked Account or the Collection Account cash or cash proceeds other than Collections. If any Excluded Amounts are deposited or credited to any Blocked Account or the Collection Account, the SPV shall transfer such Excluded Amounts to an account of the SPV or an Originator other than the Blocked Accounts or the Collection Account within two (2) Business Days of such deposit or credit thereof to the applicable Blocked Account or the Collection Account, as applicable. The Agent and the other Secured Parties acknowledge they shall have no right, title or interest in any such Excluded Amounts. The SPV and the Servicer shall cause the Blocked Account Agreement Amendment Date to occur within five (5) Business Days after the Specified Account becomes operational and is ready to receive deposits; provided that no amounts shall be deposited to the Specified Account prior to the Blocked Account Agreement Amendment Date.
Deposits to Blocked Accounts. The Seller shall (i) instruct or cause to be instructed all Obligors (other than Excluded Obligors) to make payments of all Pool Receivables to one or more Blocked Accounts directly or to post office boxes or lock-boxes to which only Blocked Account Banks have access (and shall instruct the Blocked Account Banks to cause all items and amounts relating to such Pool Receivables received in such post office boxes or lock-boxes to be removed and deposited into a Blocked Account on a daily basis), (ii) deposit, or cause to be deposited, any Collections of Pool Receivables received by it into a Blocked Account not later than one (1) Business Day after receipt thereof, (iii) instruct or cause to be instructed all Excluded Obligors to make payments to accounts other than to a Blocked Account and (iv) remove or cause to be removed any funds other than Collections of Pool Receivables deposited in a Blocked Account no later than one (1) Business Day after deposit therein (except in the case of Collections of Specified Excluded Receivables and for the period of ninety (90) days after the Closing Date, in which case no later than five (5) Business Days after deposit therein). Each Blocked Account shall at all times be subject to a Blocked Account Agreement.
Deposits to Blocked Accounts. The Seller shall (or shall cause the Servicer to): (i) establish, or cause to be established, Lock-Box Accounts each subject to a Blocked Account Agreement acceptable to the Administrator, (ii) deposit, or cause to be deposited, any Collections received by it, the Servicer or any Originator into a Lock-Box Account not later than one Business Day after receipt thereof, and (iii) instruct all Obligors to make payments on all Receivables to one or more Lock-Box Accounts or to post office boxes to which only the related Blocked Account Bank has access (and shall instruct such Blocked Account Bank to cause all items and amounts relating to such Receivables to be removed and deposited into a Lock-Box Account on a daily basis). Except as otherwise agreed to in writing by the Administrator and the Majority Purchasers, each Blocked Account shall at all times be subject to a Blocked Account Agreement. The Seller will not (and will not permit the Servicer to) deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Blocked Account cash or cash proceeds other than Collections (except, in limited circumstances, the deposit of immaterial amounts therein).
Deposits to Blocked Accounts. No Originator shall deposit or otherwise credit, or cause or permit to be so deposited or credited, any Excluded Amounts to a Blocked Account; provided that Excluded Amounts may be deposited into the Blocked Accounts so long as the Originator has used its good faith efforts to avoid such a deposit and it is otherwise in compliance with the terms of this Section 6.3(f). If payments on Non-Originator Receivables or Retained Receivables are deposited into any Blocked Account or if other Excluded Amounts are by accident or in error deposited into any Blocked Account, the applicable Originator(s) will promptly (not to exceed two (2) Business Days) (x) identify such Excluded Amounts for segregation and removal from such Blocked Account and (y) remove (or cause the SPV to remove) such Excluded Amounts from such Blocked Account. Other than as permitted in the foregoing two sentences, no Originator will, or will permit any other Person to, commingle Collections or other funds to which the SPV or any other Secured Party is entitled with any other Excluded Amounts. Promptly following the Closing Date, the Originators will use their commercially reasonable efforts to notify each obligor of Non-Originator Receivables to redirect its payments in respect of such Non-Originator Receivables to one or more deposit accounts not constituting Blocked Accounts.
Deposits to Blocked Accounts. From and after the Initial Investment Date, neither the SPV nor the Servicer will deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Blocked Account cash or cash proceeds other than Collections of Receivables.
Deposits to Blocked Accounts. The Purchaser shall not deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Blocked Account cash or cash proceeds other than Collections.
Deposits to Blocked Accounts. The Servicer shall not deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Blocked Account or the Collection Account cash or cash proceeds other than Collections.
Deposits to Blocked Accounts. Neither the SPV nor the Servicer shall deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Blocked Account or the Collection Account cash or cash proceeds other than Collections. If any Excluded Amounts are deposited or credited to any Blocked Account, the SPV shall transfer such Excluded Amounts to an account of the SPV or an Originator other than the Blocked Accounts within two (2) Business Days of such deposit or credit thereof to the applicable Blocked Account. The Agent and the other Secured Parties acknowledge they shall have no right, title or interest in any such Excluded Amounts.
Deposits to Blocked Accounts. Neither the SPV nor the Servicer shall deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Blocked Account or the Collection Account cash or cash proceeds other than Collections. Notwithstanding the immediately preceding sentence, the SPV and Servicer may deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Blocked Account cash or cash proceeds other than Collections (“Out-of-Program Collections”) to the extent such deposits or credits (i) relate to certain intercompany receivables or other receivables not originated by an Originator which have been disclosed to the Agent, or (ii) are made by error or mistake, provided that (A) the SPV shall take such actions as are necessary to ensure all intercompany receivables cease paying into a Blocked Account by November 14, 2010, (B) the SPV shall use reasonable commercial efforts to instruct the obligors of receivables not originated by an Originator as soon as reasonably possible and in any event by November 14, 2010, to cease paying Out-of-Program Collections into a Blocked Account and in lieu thereof to pay Out-of-Program Collections to an account other than a Blocked Account, (C) take such other reasonable commercial actions as the Agent may request to redirect all Out-of-Program Collections, and (D) all Out-of-Program Collections submitted to any Blocked Account shall be identifiable to the satisfaction of the Adminisitrative Agent in its reasonable discretion. If any Out-of-Program Collections are deposited or credited to any Blocked Account, the SPV shall transfer such Out-of-Program Collections to an account of the SPV or an Originator other than the Blocked Accounts, or shall cause such Out-of-Program Collections to be so transferred, promptly and in any event by November 14, 2010 or, if deposited or credited to any Blocked Account on or after November 14, 2010, within two (2) Business Days of such deposit or credit thereof to the applicable Blocked Account. The Agent and the other Secured Parties acknowledge they shall have no right, title or interest in any such Out-of-Program Collections.”
