Excess Collections Clause Samples

Excess Collections. Cause to be paid to the Company and its Subsidiaries (other than Unrestricted Subsidiaries and Excluded Subsidiaries) at least once during each calendar quarter, any and all excess collections held by any Unrestricted Subsidiary in connection with a Securitization (it being understood that excess collections shall mean collections that are not required to be paid to or held for the benefit of investors, servicers, credit support providers, trustees or other parties to such Securitization or required to be retained by such Unrestricted Subsidiary to satisfy minimum capitalization requirements).

Excess Collections. Notwithstanding anything to the contrary provided for herein, in the event that, at any time, the funds received by DLL through the Blocked Accounts shall exceed the amount of the then-outstanding Obligations that are then due and payable, DLL shall (and Borrower hereby authorizes DLL to) retain and hold such excess funds received through the Blocked Accounts as cash collateral for the Obligations (all such funds received and held by DLL from time to time as cash collateral prior to the application thereof to the Obligations as provided for in this paragraph, the “Excess Collections”). Borrower shall not be entitled to receive interest on any such Excess Collections. Such excess funds held by DLL as cash collateral as defined in the foregoing shall be applied to the payment of future Obligations as and when such Obligations are incurred and/or become payable. Borrower hereby grants to DLL a first priority security interest and lien in any and all such excess funds held by DLL from time to time (collectively, the “Excess Cash Collateral”) to secure the payment and performance of the Obligations when due and Borrower agrees that all such Excess Cash Collateral held by DLL from time to time shall be part of the Collateral. DLL shall not be required to deposit the actual funds representing such Excess Cash Collateral into any particular deposit account maintained specifically for the benefit of Borrower and/or to otherwise segregate or maintain such funds separately from DLL’s other funds and assets and may instead commingle all such Excess Cash Collateral held by DLL for the benefit of Borrower with DLL’s other funds and assets (including by depositing any and all funds representing such Excess Cash Collateral into DLL’s general operating deposit accounts and/or other deposit accounts or securities accounts). For avoidance of doubt, the parties hereto agree that upon the occurrence of any Event of Default which is continuing, DLL shall have the immediate right, exercisable in its sole and absolute discretion, to apply any and all Excess Cash Collateral held by DLL for Borrower’s account to the repayment of any and all then-outstanding and owing Obligations.

Excess Collections. The Series 1998-1 Shortfall for any Distribution Date with respect to (a) the Early Amortization Period shall equal the excess of (i) the Invested Amount on such Distribution Date (determined before giving effect to any distributions to be made on such date) over (ii) the Monthly Principal to be distributed on such Distribution Date (excluding any portion thereof attributable to Excess Collections) and (b) the Accumulation Period shall equal the excess of (i) the Controlled Deposit Amount over (ii) the Monthly Principal to be distributed on such Distribution Date (excluding any portion thereof attributable to Excess Collections).

Excess Collections. (a) That portion of Excess ------------------ Collections of all Series and Purchased Interests for any Due Period which is not allocated to the Seller under Section 4.05 of the Agreement ("Available Excess Collections") will be allocated to Series 1998-1 and will be distributed as set forth in this Series Supplement.

Excess Collections. If (i) no Revolving Credit Balance is then outstanding, (ii) no other Obligations are then due and owing by Borrowers and (iii) no Default or Event of Default shall have occurred and then be continuing, Lender agrees to promptly (and in any event not later than three (3) Business Days after the receipt thereof) cause to be transferred to the Operating Account, or such other deposit account of the Credit Parties as Borrower Agent may designate in writing to Lender, all proceeds of Collections and other cash proceeds of Collateral received by Lender.