Deposits to the Concentration Account Sample Clauses

Deposits to the Concentration Account. Until the Indenture is terminated pursuant to Section 12.1, the Issuer and each other Securitization Entity shall deposit (or cause to be deposited) the following amounts to the Concentration Account, in each case, to the extent owed to it or the other Securitization Entities and promptly after receipt (but in any event on or prior to the Weekly Allocation Date relating to the Weekly Collection Period in which such amount was received): (i) all Franchisee Payment Amounts shall be deposited directly to the Concentration Account or made to a Lock-Box Account; provided that all Franchisee Payment Amounts made to a Lock-Box Account shall be withdrawn for deposit to the Concentration Account promptly after receipt thereof; (ii) all Company-Owned Restaurant Royalty Payment Amounts shall be deposited promptly in the Concentration Account; (iii) all amounts received under any IP License Agreements, other license fees and any other amounts received in respect of the Securitization IP, including recoveries from the enforcement of the Securitization IP; (iv) equity contributions, if any, made by any Non-Securitization Entity to the Issuer to the extent such equity contributions are directed to be made to the Concentration Account; and (v) all other amounts constituting Retained Collections not referred to in the preceding clauses other than Indemnification Amounts, Asset Disposition Proceeds and other amounts required to be deposited directly to other Management Accounts or to the Collection Account.
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Deposits to the Concentration Account. Until the Indenture is terminated pursuant to Section 12.1, the Issuer shall deposit (or cause to be deposited) the following amounts to the Concentration Account to the extent owed to it or its Subsidiaries and upon receipt (unless otherwise specified below): (i) all Franchise Entity Collections shall be deposited in the Concentration Account in accordance with Section 8.35; (ii) within three (3) Business Days of receipt, equity contributions, if any, made by any Non-Securitization Entity to the Issuer to the extent such equity contributions are directed to be made to the Concentration Account; and (iii) within five (5) Business Days of receipt, all other amounts constituting Collections not referred to in the preceding clauses other than amounts required to be deposited directly to other Management Accounts or to the Collection Account.
Sample 1
Deposits to the Concentration Account. Until the Indenture is terminated pursuant to Section 12.1, the Issuer shall deposit (or cause to be deposited) the following amounts to the Concentration Account, in each case, to the extent owed to it or the other Securitization Entities or the Take 5 Company Locations and promptly after receipt (unless otherwise specified below): (i) all Franchisee Payments shall be deposited directly to the Concentration Account or made to a Lock-Box Account; provided that all Franchisee Payments made to a Lock-Box Account shall be deposited to the Concentration Account within two (2) Business Days following the receipt of such amounts in such Lock-Box Account; (ii) within five (5) Business Days after the end of each fiscal week of Take 5 Franchisor and Take 5 Properties, the Weekly Estimated Take 5 Company Location Profits Amount; (iii) on or before the tenth (10th) Business Day following the last day of each Take 5 Monthly Fiscal Period, the Monthly Take 5 Company Location Profits True-up Amount, if any, from amounts on deposit in the Take 5 Company Location Concentration Accounts and/or draws on the Series 2015-1 Class A-1 Notes; (iv) within three (3) Business Days of receipt, all amounts received under the IP License Agreements, other license fees and any other amounts received in respect of the Securitization IP, including recoveries from the enforcement of the Securitization IP; (v) within three (3) Business Days of receipt, equity contributions, if any, made by any Non-Securitization Entity to the Issuer to the extent such equity contributions are directed to be made to the Concentration Account; and (vi) within five (5) Business Days of receipt, all other amounts constituting Retained Collections not referred to in the preceding clauses other than Indemnification Amounts, Release Prices, Insurance/Condemnation Proceeds, Asset Disposition Proceeds and other amounts required to be deposited directly to other Management Accounts or to the Collection Account.
Sample 1

Related to Deposits to the Concentration Account

  • Collection Account (a) On behalf of the Trustee, the Servicer shall establish and maintain, or cause to be established and maintained, one or more segregated Eligible Accounts (such account or accounts, the “Collection Account”), held in trust for the benefit of the Trustee. On behalf of the Trustee, the Servicer shall deposit or cause to be deposited in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Servicer’s receipt thereof, and shall thereafter deposit into the Collection Account, in no event more than two Business Days after the deposit of such funds into the clearing account, as and when received or as otherwise required hereunder, the following payments and collections received or made by it subsequent to the Cut-off Date (other than in respect of principal or interest on the related Mortgage Loans due on or before the Cut-off Date), or payments (other than Principal Prepayments) received by it on or prior to the Cut-off Date but allocable to a Due Period subsequent thereto: (i) all payments on account of principal, including Principal Prepayments, on the Mortgage Loans; (ii) all payments on account of interest (net of the related Servicing Fee) on each Mortgage Loan; (iii) all Insurance Proceeds and Condemnation Proceeds to the extent such Insurance Proceeds and Condemnation Proceeds are not to be applied to the restoration of the related Mortgaged Property or released to the related Mortgagor in accordance with the express requirements of law or in accordance with Accepted Servicing Practices, Liquidation Proceeds and Subsequent Recoveries; (iv) any amounts required to be deposited pursuant to Section 3.12 in connection with any losses realized on Permitted Investments with respect to funds held in the Collection Account; (v) any amounts required to be deposited by the Servicer pursuant to the second paragraph of Section 3.13(a) in respect of any blanket policy deductibles; (vi) all proceeds of any Mortgage Loan repurchased or purchased in accordance with this Agreement; and (vii) all Prepayment Charges collected by the Servicer. The foregoing requirements for deposit in the Collection Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges, NSF fees, reconveyance fees, assumption fees and other similar fees and charges need not be deposited by the Servicer in the Collection Account and shall, upon collection, belong to the Servicer as additional compensation for its servicing activities. In the event the Servicer shall deposit in the Collection Account any amount not required to be deposited therein, it may at any time withdraw such amount from the Collection Account, any provision herein to the contrary notwithstanding. (b) Funds in the Collection Account may be invested in Permitted Investments in accordance with the provisions set forth in Section 3.12. The Servicer shall give notice to the Securities Administrator, the Master Servicer, the Trustee and the Depositor of the location of the Collection Account maintained by it when established and prior to any change thereof.

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