Common use of Distributions from Accounts Clause in Contracts

Distributions from Accounts. (a) On each Determination Date, following the determinations set forth in Section 5.3, the Master Servicer will distribute any amount owed to the Seller pursuant to Section 5.3 by wire transfer. (b) Until the Termination Date, with reasonable best efforts on each Purchase Date or in any event within two (2) Business Days of each such Purchase Date, the Master Servicer shall pay to the Purchaser all amounts due and owing the Purchaser in accordance with this Agreement and pay the balance, if any, to the Seller by wire transfer; provided, however, with respect to Receivables processed or cleared pursuant to any Carrier Agreement, Clearinghouse Agreement or Billing and Collection Agreement, if applicable, any Excess Collection Amount shall be retained by the Purchaser until such time that the Seller’s billing cycle (or batch) to which such Excess Collection Amount applies is deemed closed by the Purchaser which, absent the occurrence of an Event of Seller Default and provided that the Purchaser has received information in sufficient form and format to allow the Purchaser to properly apply and/or post Collections against Purchased Receivables, will occur no later than the next immediate Purchase Date following such determination to an account designated by the Seller.

Distributions from Accounts. (a) On No later than 11:00 a.m. on each Determination Date, following the determinations set forth in Section 5.35.2, the Master Servicer will distribute withdraw from the accounts the following amounts: (i) the Paid Receivables Amount and the Rejected Receivable Amount plus any outstanding Rejected Receivable Amount applicable to any prior period from the Collection Account and deposit such amount owed in the Purchase Account; (ii) the Defaulted Receivable Amount from the Seller Credit Reserve Account and deposit such amount in the Purchase Account; and (iii) the Excess Collection Amount and deposit such amount in the Seller Credit Reserve Account to the extent that the Seller pursuant to Section 5.3 by wire transferCredit Reserve Account is less than the Specified Credit Reserve Balance. (b) Until the Termination Date, with reasonable best efforts on each Purchase Date or in any event within two (2) Business Days of each such Purchase Date, the Master Servicer shall pay to the Purchaser by withdrawal from the Collection Account all amounts due and owing the Purchaser in accordance with this Agreement Sections 2.3, 4.4, 5.4, 8.1 and 9.4 and pay the balance, if any, to the Seller by check or wire transfer; providedPROVIDED, howeverHOWEVER, with respect to Receivables processed or cleared pursuant to any Carrier Agreement, Clearinghouse Agreement or Billing and Collection Agreement, if applicable, any Excess Collection Amount shall be retained by the Purchaser until such time that the Seller’s billing cycle (or batch) to which such Excess Collection Amount applies is deemed closed by the Purchaser which, absent the occurrence of an Event of Seller Default and provided that the Purchaser has received information in sufficient form and format to allow the Purchaser to properly apply and/or post Collections against Purchased ReceivablesDefault, will occur no later than the next immediate Purchase Date following such determination to an account designated by the Sellerdetermination.

Distributions from Accounts. (a) On No later than 11:00 a.m. on each Determination Date, following the determinations set forth in Section 5.35.2, the Master Servicer will distribute withdraw from the accounts the following amounts: (i) the Paid Receivables Amount and the Rejected Receivable Amount plus any outstanding Rejected Receivable Amount applicable to any prior period from the Collection Account and deposit such amount owed in the Purchase Account; (ii) the Defaulted Receivable Amount from the Seller Credit Reserve Account and deposit such amount in the Purchase Account; and (iii) the Excess Collection Amount and deposit such amount in the Seller Credit Reserve Account to the extent that the Seller pursuant to Section 5.3 by wire transferCredit Reserve Account is less than the Specified Credit Reserve Balance. (b) Until the Termination Date, with reasonable best efforts on each Purchase Date or in any event within two (2) Business Days of each such Purchase Date, the Master Servicer shall pay to the Purchaser by withdrawal from the Collection Account all amounts due and owing the Purchaser in accordance with this Agreement Sections 2.3, 4.4, 5.4, 8.1 and 9.4 and pay the balance, if any, to the Seller by check or wire transfer; provided, however, with respect to Receivables processed or cleared pursuant to any Carrier Agreement, Clearinghouse Agreement or Billing and Collection Agreement, if applicable, any Excess Collection Amount shall be retained by the Purchaser until such time that the Seller’s billing cycle (or batch) to which such Excess Collection Amount applies is deemed closed by the Purchaser which, absent the occurrence of an Event of Seller Default and provided that the Purchaser has received information in sufficient form and format to allow the Purchaser to properly apply and/or post Collections against Purchased ReceivablesDefault, will occur no later than the next immediate Purchase Date following such determination to an account designated by the Sellerdetermination.