Common use of Deposits to Collection Accounts Clause in Contracts

Deposits to Collection Accounts. The Seller hereby directs the Servicer to instruct all Obligors to make payments of all Pool Receivables to (A) one or more Collection Accounts or Lock-Boxes or Payment Processors or (B) so long as each of the Exception Account Conditions are satisfied, an Exception Account. The Seller shall, and shall cause each Originator to, remit all Collections received in any Exception Account directly to a Collection Account no later than one (2) Business Days following receipt thereof. The Seller hereby directs the Servicer to instruct all Payment Processors to remit all payments of all Pool Receivables received by such Payment Processors to one or more Collection Accounts or Lock-Boxes. If the Servicer fails to so instruct an Obligor or a Payment Processor, or if an Obligor or a Payment Processor fails to so deliver payments to a Collection Account or Lock-Box, the Seller will use all reasonable efforts to cause such Obligor or Payment Processor to deliver subsequent payments on Pool Receivables to a Collection Account or Lock-Box and (ii) deposit, or cause to be deposited, any Collections received by it, into a Collection Account subject to a Lock-Box Agreement not later than two Business Days after receipt thereof. The Seller shall only add a Collection Account or a Lock-Box Bank to those listed on Schedule II to this Agreement if the Administrator has received prior written notice of such addition and an executed and acknowledged copy of a Lock-Box Agreement (or an amendment thereto) in form and substance acceptable to the Administrator from the applicable Lock-Box Bank. The Seller shall only add a Payment Processor to those listed on Schedule III to this Agreement if the Administrator has received prior written notice of such addition.

Deposits to Collection Accounts. The Seller hereby directs the Servicer to instruct all Obligors to make payments of all Pool Receivables to (A) one or more Collection Accounts or Lock-Boxes or Payment Processors or (B) so long as each of the Exception Account Conditions are satisfied, an Exception Account. The Seller shall, and shall cause each Originator to, remit all Collections received in any Exception Account directly to a Collection Account no later than one (2) Business Days following receipt thereofProcessors. The Seller hereby directs the Servicer to instruct all Payment Processors to remit all payments of all Pool Receivables received by such Payment Processors to one or more Collection Accounts or Lock-Boxes. If the Servicer fails to so instruct an Obligor or a Payment Processor, or if an Obligor or a Payment Processor fails to so deliver payments to a Collection Account or Lock-Box, the Seller will use all reasonable efforts to cause such Obligor or Payment Processor to deliver subsequent payments on Pool Receivables to a Collection Account or Lock-Box and (ii) deposit, or cause to be deposited, any Collections received by it, into a Collection Account subject to a Lock-Box Agreement not later than two Business Days after receipt thereof. The Seller shall only add a Collection Account or a Lock-Box Bank to those listed on Schedule II to this Agreement if the Administrator has received prior written notice of such addition and an executed and acknowledged copy of a Lock-Box Agreement (or an amendment thereto) in form and substance acceptable to the Administrator from the applicable Lock-Box Bank. The Seller shall only add a Payment Processor to those listed on Schedule III to this Agreement if the Administrator has received prior written notice of such addition.

Deposits to Collection Accounts. The Seller hereby directs the Servicer to instruct all Obligors to make payments of all Pool Receivables to (A) one or more Collection Accounts or Lock-Boxes or Payment Processors or (B) so long as each of the Exception Account Conditions are satisfied, an Exception Account. The Seller shall, and shall cause each Originator to, remit all Collections received in any Exception Account directly to a Collection Account no later than one (2) Business Days following receipt thereofProcessors. The Seller hereby directs the Servicer to instruct all Payment Processors to remit all payments of all Pool Receivables received by such Payment Processors to one or more Collection Accounts or Lock-Boxes. If the Servicer fails to so instruct an Obligor or a Payment Processor, or if an Obligor or a Payment Processor fails to so deliver payments to a Collection Account or Lock-Box, the Seller will use all reasonable efforts Table of Contents to cause such Obligor or Payment Processor to deliver subsequent payments on Pool Receivables to a Collection Account or Lock-Box and (ii) deposit, or cause to be deposited, any Collections received by it, into a Collection Account subject to a Lock-Box Agreement not later than two Business Days after receipt thereof. The Seller shall only add a Collection Account or a Lock-Box Bank to those listed on Schedule II to this Agreement if the Administrator has received prior written notice of such addition and an executed and acknowledged copy of a Lock-Box Agreement (or an amendment thereto) in form and substance acceptable to the Administrator from the applicable Lock-Box Bank. The Seller shall only add a Payment Processor to those listed on Schedule III to this Agreement if the Administrator has received prior written notice of such addition. Notwithstanding the foregoing requirements of this Section 1(i), until the Collection Account Grace Period End Date, Collections on Receivables originated by Dynegy Energy Services, LLC may be received into the Dynegy Account but only so long as all available Collections in such accounts are swept on a daily basis to the Concentration Account.

Deposits to Collection Accounts. The Seller hereby directs the Servicer to instruct all Obligors to make payments of all Pool Receivables to (A) one or more Collection Accounts or Lock-Boxes or Payment Processors or (B) so long as each of the Exception Account Conditions are satisfied, an Exception Account. The Seller shall, and shall cause each Originator to, remit all Collections received in any Exception Account directly to a Collection Account no later than one (2) Business Days following receipt thereofProcessors. The Seller hereby directs the Servicer to instruct all Payment Processors to remit all payments of all Pool Receivables received by such Payment Processors to one or more Collection Accounts or Lock-Boxes. If the Servicer fails to so instruct an Obligor or a Payment Processor, or if an Obligor or a Payment Processor fails to so deliver payments to a Collection Account or Lock-Box, the Seller will use all reasonable efforts to cause such Obligor or Payment Processor to deliver subsequent payments on Pool Receivables to a Collection Account or Lock-Box and (ii) deposit, or cause to be deposited, any Collections received by it, into a Collection Account subject to a Lock-Box Agreement not later than two Business Days after receipt thereof. The Seller shall only add a Collection Account or a Lock-Box Bank to those listed on Schedule II to this Agreement if the Administrator has received prior written notice of such addition and an executed and acknowledged copy of a Lock-Box Agreement (or an amendment thereto) in form and substance acceptable to the Administrator from the applicable Lock-Box Bank. The Seller shall only add a Payment Processor to those listed on Schedule III to this Agreement if the Administrator has received prior written notice of such addition. Notwithstanding the foregoing requirements of this Section 1(i), until the Collection Account Grace Period End Date, Collections on Receivables originated by Dynegy Energy Services, LLC may be received into the Dynegy Account but only so long as all available Collections in such accounts are swept on a daily basis to the Concentration Account.

Deposits to Collection Accounts. The Seller hereby directs the Servicer to instruct all Obligors to make payments of all Pool Receivables to (A) one or more Collection Accounts or Lock-Boxes or Payment Processors or (B) so long as each of the Exception Account Conditions are satisfied, an Exception Account. The Seller shall, and shall cause each Originator to, remit all Collections received in any Exception Account directly to a Collection Account no later than one (2) Business Days following receipt thereof. The Seller hereby directs the Servicer to instruct all Payment Processors to remit all payments of all Pool Receivables received by such Payment Processors to one or more Collection Accounts or Lock-Boxes. If the Servicer fails to so instruct an Obligor or a Payment Processor, or if an Obligor or a Payment Processor fails to so deliver payments to a Collection Account or Lock-Box, the Seller will use all reasonable efforts to cause such Obligor or Payment Processor to deliver subsequent payments on Pool Receivables to a Collection Account or Lock-Box and (ii) deposit, or cause to be deposited, any Collections received by it, into a Collection Account subject to a Lock-Box Agreement not later than two Business Days after receipt thereof. The Seller shall only add a Collection Account or a Lock-Box Bank to those listed on Schedule II to this Agreement if the Administrator has received prior written notice of such addition and an executed and acknowledged copy of a Lock-Box Agreement (or an amendment thereto) in form and substance acceptable to the Administrator from the applicable Lock-Box Bank. The Seller shall only add a Payment Processor to those listed on Schedule III to this Agreement if the Administrator has received prior written notice of such addition. Notwithstanding the foregoing requirements of this Section 1(i), until the Collection Account Grace Period End Date, Collections on Receivables originated by Energy Harbor LLC may be received into the Energy Harbor Account but only so long as all available Collections in such accounts are swept on a daily basis to the Concentration Account.