Common use of Funding of Collection Account Clause in Contracts

Funding of Collection Account. As soon as practicable, and in any event no later than 3:00 p.m. (New York time) on each Business Day: (a) the Administrative Agent shall transfer or cause to be transferred, to the extent then available, all Collections deposited in any Lockbox Account prior to such Business Day to the Concentration Account specified in Section 6.01(a)(i) and all amounts subsequently on deposit in a Concentration Account to the Collection Account; (b) the Purchasers or the Administrative Agent shall deposit in the Collection Account the amount, if any, required pursuant to Section 2.04(b)(i); (c) if, on the immediately preceding Business Day, the Administrative Agent shall have notified MRFC of any Purchase Excess, then MRFC shall deposit cash in the amount of such Purchase Excess in the Collection Account; (d) if MRFC has delivered a Repayment Notice pursuant to Section 2.03(c) with respect to such Business Day, then MRFC shall deposit in the Collection Account cash in an amount equal to the requested reduction in the Capital Investment, together with all other amounts required to be paid pursuant to Section 2.03(c); (e) if on such Business Day MRFC is required to make other payments under this Transfer Agreement not previously paid out of Collections (including Additional Amounts and Indemnified Amounts not previously paid), then MRFC shall deposit an amount equal to such payments in the Collection Account; and (f) if, on the immediately preceding Business Day, any Originator made a payment pursuant to Section 4.03 of the Purchase Agreement or made a payment as a result of any Dilution Factors pursuant to Section 4.02(y) of the Purchase Agreement, then MRFC shall deposit in the Collection Account cash in the amount so received from the Originators for such contribution or for such repurchase or payment.

Funding of Collection Account. As soon as practicable, and in any event no later than 3:00 1:00 p.m. (New York time) on each Business Day: (a) the Administrative Agent shall transfer or cause to be transferred, to the extent then available, all Collections deposited in any Lockbox Account prior to such Business Day to the Concentration Account specified in Section 6.01(a)(i) and all amounts subsequently on deposit in a Concentration Account to the Collection Account; (b) the Purchasers or the Administrative Agent shall deposit in the Collection Account the amount, if any, required pursuant to Section Sections 2.04(b)(i); (c) if, on the immediately preceding Business Day, the Administrative Agent shall have notified MRFC the Seller of any Purchase Excess, then MRFC the Seller shall deposit cash in the amount of such Purchase Excess in the Collection Account; (d) if MRFC has delivered a Repayment Notice pursuant to Section 2.03(c) with respect to such Business Day, then MRFC shall deposit in the Collection Account cash in an amount equal to the requested reduction in the Capital Investment, together with all other amounts required to be paid pursuant to Section 2.03(c); (e) if on such Business Day MRFC the Seller is required to make other payments under this Transfer Agreement not previously paid out of Collections (including Additional Amounts and Indemnified Amounts not previously paid), then MRFC the Seller shall deposit an amount equal to such payments in the Collection Account; and; (fe) if, on the immediately preceding Business Day, any an Originator made a payment capital contribution or repurchased a Transferred Receivable pursuant to Section 4.03 4.05 of the Purchase Sale Agreement or made a payment as a result of any Dilution Factors pursuant to Section 4.02(y4.02(p) of the Purchase Sale Agreement, then MRFC the Seller shall deposit in the Collection Account cash in the amount so received from the Originators such Originator for such contribution or for such repurchase or payment; (f) the Servicer shall deposit in the Collection Account the Outstanding Balance of any Transferred Receivable the Servicer elects to pay pursuant to Section 7.04; and (g) the Seller shall deposit in the Collection Account the Outstanding Balance of any Transferred Receivable the Seller elects to pay pursuant to Section 8.06(d).

Funding of Collection Account. (a) As soon as practicable, and in any event no later than 3:00 1:00 p.m. (New York time) on each Business Day: (ai) the Administrative Agent shall transfer or cause to be transferred, to the extent then available, all Collections deposited in any each Lockbox Account prior to such Business Day to the Concentration Account specified in Section 6.01(a)(i) and all amounts subsequently on deposit in a Concentration Account to the Collection Account; (bii) the Purchasers Applicable Purchaser or the Administrative Agent shall deposit in the Collection Account the amount, if any, required pursuant to Section 2.04(b)(i); (ciii) if, on the immediately preceding Business Day, the Administrative Agent shall have notified MRFC the Seller of any Purchase Excess, then MRFC the Seller shall deposit cash in the amount of such Purchase Excess in the Collection Account; (d) if MRFC has delivered a Repayment Notice pursuant to Section 2.03(c) with respect to such Business Day, then MRFC shall deposit in the Collection Account cash in an amount equal to the requested reduction in the Capital Investment, together with all other amounts required to be paid pursuant to Section 2.03(c); (eiv) if on such Business Day MRFC the Seller is required to make other payments under this Transfer Agreement not previously paid retained out of Collections (including Additional Amounts and Indemnified Amounts not previously paid), then MRFC the Seller shall deposit an amount equal to such payments in the Collection Account; and; (fv) if, on the immediately preceding Business Day, any Originator made a payment capital contribution or repurchased a Transferred Receivable pursuant to Section 4.03 4.04 of the Purchase Sale and Contribution Agreement or made a payment as a result of any Dilution Factors pursuant to Section 4.02(y4.02(o) of the Purchase Sale and Contribution Agreement, then MRFC the Seller shall deposit in the Collection Account cash in the amount so received from the Originators such Originator for such contribution or for such repurchase or payment; (vi) each Servicer shall deposit in the Collection Account the Outstanding Balance of any Transferred Receivable such Servicer elects to pay pursuant to Section 7.04; and (vii) the Seller shall deposit in the Collection Account the Outstanding Balance of any Transferred Receivable the Seller elects to pay pursuant to Section 8.06(d). (b) If, on or before the second Business Day immediately preceding any Settlement Date, the Administrative Agent shall have notified the Seller of any Retention Account Deficiency pursuant to Section 6.04(b), then the Seller shall deposit cash in the amount of such deficiency in the Collection Account no later than 12:00 noon (New York time) on such Settlement Date. (c) From and after the Facility Termination Date, the Administrative Agent shall transfer all amounts on deposit in the Retention Account as of that date and all amounts on deposit in any of Seller's other deposit accounts as of that date to the Collection Account.