Common use of Distributions from Collection Accounts Clause in Contracts

Distributions from Collection Accounts. (a) Collections in the Collection Accounts. On each Settlement Date, the Seller Representative or any applicable Seller shall apply Collections held in the Collection Accounts in accordance with the following procedure: (i) if the Payment Amount is negative, the Seller Representative or the applicable Seller will pay the absolute value thereof, together with the amount of the Administration Fee and Unused Fee, to the Administrative Agent from Collections deposited in the Collection Accounts; if there are insufficient Collections in the Collection Accounts to pay the full amount due and owing to the Administrative Agent and the Purchasers, then after applying such Collections to the payment of the Payment Amount (and, to the extent of available funds, the Administration Fee and Unused Fee) any remaining shortfall shall be paid directly by the Seller Representative or the applicable Seller from its general funds by deposit into the Administrative Agent’s Account. Upon payment in full of the Payment Amount and the Administration Fee and the Unused Fee, the Seller Representative or the applicable Seller shall be permitted to withdraw any and all Collections remaining in the Collection Accounts on such Settlement Date (other than any Collections that are transferred from an Existing Account to the Collection Accounts on such Settlement Date) for its own account; and (ii) if the Payment Amount is positive, then the amount thereof will be payable by the Administrative Agent (on behalf the Purchasers) to the Seller Representative (for further distribution to the applicable Seller); furthermore, if the Payment Amount is positive the Seller Representative or any applicable Seller shall be permitted to withdraw any and all Collections in the Collection Accounts on such Settlement Date (other than any Collections that are transferred from an Existing Account to the Collection Accounts on such Settlement Date) for its own account.

Distributions from Collection Accounts. (a) Collections in the Collection Accounts. On each Settlement Date, the Seller Representative or any applicable Seller shall apply Collections held in the Collection Accounts in accordance with the following procedure: : (i) if the Payment Amount is negative, the Seller Representative or the applicable Seller will pay the absolute value thereof, together with the amount of the Administration Fee and Unused Fee, to the Administrative Agent from Collections deposited in the Collection Accounts; if there are insufficient Collections in the Collection Accounts to pay the full amount due and owing to the Administrative Agent and the Purchasers, then after applying such Collections to the payment of the Payment Amount (and, to the extent of available funds, the Administration Fee and Unused Fee) any remaining shortfall shall be paid directly by the Seller Representative or the applicable Seller from its general funds by deposit into the Administrative Agent’s Account. Upon payment in full of the Payment Amount and the Administration Fee and the Unused Fee, the Seller Representative or the applicable Seller shall be permitted to withdraw any and all Collections remaining in the Collection Accounts on such Settlement Date (other than any Collections that are transferred from an Existing Account to the Collection Accounts on such Settlement Date) for its own account; and and (ii) if the Payment Amount is positive, then the amount thereof will be payable by the Administrative Agent (on behalf the Purchasers) to the Seller Representative (for further distribution to the applicable Seller); furthermore, if the Payment Amount is positive the Seller Representative or any applicable Seller shall be permitted to withdraw any and all Collections in the Collection Accounts on such Settlement Date (other than any Collections that are transferred from an Existing Account to the Collection Accounts on such Settlement Date) for its own account.. (b)

Distributions from Collection Accounts. (a) Collections in the Collection Accounts. On each Settlement Date, the Seller Representative or any applicable Seller shall apply Collections held in the Collection Accounts in accordance with the following procedure: : (i) if the Payment Amount is negative, the Seller Representative or the applicable Seller will pay the absolute value thereof, together with the amount of the Administration Fee and Unused Fee, to the Administrative Agent from Collections deposited in the Collection Accounts; if there are insufficient Collections in the Collection Accounts to pay the full amount due and owing to the Administrative Agent and the Purchasers, then after applying such Collections to the payment of the Payment Amount (and, to the extent of available funds, the Administration Fee and Unused Fee) any remaining shortfall shall be paid directly by the Seller Representative or the applicable Seller from its general funds by deposit into the Administrative Agent’s Account. Upon payment in full of the Payment \ Amount and the Administration Fee and the Unused Fee, the Seller Representative or the applicable Seller shall be permitted to withdraw any and all Collections remaining in the Collection Accounts on such Settlement Date (other than any Collections that are transferred from an Existing Account to the Collection Accounts on such Settlement Date) for its own account; and and (ii) if the Payment Amount is positive, then the amount thereof will be payable by the Administrative Agent (on behalf the Purchasers) to the Seller Representative (for further distribution to the applicable Seller); furthermore, if the Payment Amount is positive the Seller Representative or any applicable Seller shall be permitted to withdraw any and all Collections in the Collection Accounts on such Settlement Date (other than any Collections that are transferred from an Existing Account to the Collection Accounts on such Settlement Date) for its own account.. (b)