Common use of Funding of Collection Account Clause in Contracts

Funding of Collection Account. (a) No later than 11:30 a.m. Pacific time on each Business Day: (i) The Borrower shall instruct each Lockbox Account Bank to transfer all Collections deposited in the Lockbox Account prior to such Business Day to the Collection Account immediately after such funds have cleared and become available in accordance with the policies of the Lockbox Account Bank; (ii) the Servicer shall transfer all Collections received by it or on its behalf with respect to Transferred Receivables prior to such Business Day to the Collection Account; (iii) if, on the prior Business Day, the Deal Agent has notified the Borrower of any Borrowing Excess pursuant to Section 6.03, the Borrower shall deposit cash in the amount of such Borrowing Excess in the Collection Account; (iv) if, pursuant to a Borrower Notice, the Borrower has requested to make an Optional Prepayment of Advances on such Business Day, the Borrower shall deposit cash into the Collection Account in an amount equal to such Optional Repayment Amount; (v) if on such Business Day the Borrower is required to make other payments under this Agreement not previously retained out of Collections (including Indemnified Amounts not previously paid), the Borrower shall deposit an amount equal to such payments in the Collection Account; (vi) if, on the prior Business Day, the Parent made a capital contribution or payment of a Rejected Amount, repurchased Ineligible Receivables, or substituted Ineligible Receivables with Eligible Receivables pursuant to the Receivables Transfer Agreement, the Borrower shall deposit cash in the amount received from the Parent for such repurchase in the Collection Account; (vii) the Servicer shall deposit into the Collection Account the Gross Contract Balance of any Transferred Receivable it elects to pay pursuant to Section 7.03; and (viii) pursuant to Section 8.07, the Borrower shall deposit, or shall cause to be deposited, all proceeds in connection with any securitization with a third party trustee, conduit or similar entity in the Collection Account. (b) If, two Business Days prior to any Settlement Date, the Deal Agent notifies the Borrower of any Collection Account Deficiency pursuant to Section 6.04(b), the Borrower shall deposit cash in the amount of such deficiency into the Collection Account no later than 11:30 a.m. on such Settlement Date.

Funding of Collection Account. (a) No As soon as practicable, and in any event no later than 11:30 a.m. Pacific time 12:00 noon (New York time) on each Business Day: (i) The Borrower the Administrative Agent shall instruct each Lockbox Account Bank transfer or cause to transfer be transferred (A) all Collections deposited in the any Lockbox Account prior to such Business Day to the Collection Concentration Account immediately after such and (B) all available funds have cleared and become available in accordance with the policies of the Lockbox Concentration Account Bank; (ii) the Servicer shall transfer all Collections received by it or on its behalf with respect to Transferred Receivables prior to such Business Day to the Collection Account; (ii) the Applicable Lender or the Administrative Agent shall deposit in the Collection Account the amount, if any, required pursuant to Section 2.04(a)(i); (iii) if, on the prior immediately preceding Business Day, the Deal Administrative Agent has shall have notified the Borrower of any Borrowing Funding Excess pursuant to Section 6.03or Letter of Credit Exposure Excess, then the Borrower shall deposit cash in the amount of such Borrowing Funding Excess or Letter of Credit Exposure Excess in the Collection Account; Account (but deposits on account of any Letter of Credit Exposure Excess shall not be required if there are no Outstanding Principal Amounts at such time) (iv) if, pursuant to a Borrower Notice, the Borrower has requested to make an Optional Prepayment of Advances on such Business Day, the Borrower shall deposit cash into the Collection Account in an amount equal to such Optional Repayment Amount; (v) if on such Business Day the Borrower is required to make other payments under this Agreement not previously retained out of Collections (including Additional Amounts and Indemnified Amounts not previously paid), then the Borrower shall deposit an amount equal to such payments in the Collection Account; ; (viv) if, on the prior immediately preceding Business Day, the Parent Originator made a capital contribution or payment of repurchased a Rejected Amount, repurchased Ineligible Receivables, or substituted Ineligible Receivables with Eligible Receivables Transferred Receivable pursuant to Section 4.04 of the Receivables Transfer Sale and Contribution Agreement or made a payment pursuant to Section 4.02(o) of the Sale and Contribution Agreement, then the Borrower shall deposit in the Collection Account cash in the amount so received from the Parent Originator for such contribution or for such repurchase in the Collection Account; or payment; (viivi) the Servicer shall deposit into in the Collection Account the Gross Contract Outstanding Balance of any Transferred Receivable it the Servicer elects to pay pursuant to Section 7.032.04 of the Servicing Agreement; and and (viiivii) the Borrower shall deposit in the Collection Account the Outstanding Balance of any Transferred Receivable the Borrower elects to pay pursuant to Section 8.07, the Borrower shall deposit, or shall cause to be deposited, all proceeds in connection with any securitization with a third party trustee, conduit or similar entity in the Collection Account8.06(d). (b) If, two on or before the second Business Days Day immediately preceding any Settlement Date that occurs prior to any Settlement Datethe earlier of the Redwood Transfer Date or the date of the Committed Lender Funding Event, the Deal Administrative Agent notifies shall have notified the Borrower of any Collection Account Deficiency pursuant to Section 6.04(b), then the Borrower shall deposit cash in the amount of such deficiency into in the Collection Account no later than 11:30 a.m. 12:00 noon (New York time) on such Settlement Date. If, on or before 4:00 p.m. (New York time) on any Business Day that occurs on or after the earlier of the Redwood Transfer Date or the date of the Committed Lender Funding Event, the Administrative Agent shall have notified the Borrower of any Collection Account Deficiency pursuant to Section 6.04(b), then the Borrower shall deposit cash in the amount of such deficiency in the Collection Account no later than 12:00 noon (New York time) on the immediately following Business Day. (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 to the Collection Account.

Funding of Collection Account. (a) No As soon as practicable, and in any event no later than 11:30 11:00 a.m. Pacific time (New York time) on each Business Day: (i) The Borrower the Administrative Agent shall instruct each Lockbox Account Bank transfer or cause to transfer be transferred, to the extent then available, all Collections deposited in the any Lockbox Account prior to such Business Day to the Concentration Account and all amounts subsequently on deposit in the Concentration Account to the Collection Account immediately after such funds have cleared and become available in accordance with the policies of the Lockbox Account BankAccount; (ii) the Servicer Applicable Purchaser or the Administrative Agent shall transfer all Collections received by it or on its behalf with respect to Transferred Receivables prior to such Business Day to deposit in the Collection AccountAccount the amount, if any, required pursuant to SECTION 2.04(B)(I); (iii) if, on the prior immediately preceding Business Day, the Deal Administrative Agent has shall have notified the Borrower Seller of any Borrowing Excess pursuant to Section 6.03Purchase Excess, then the Borrower Seller shall deposit cash in the amount of such Borrowing Purchase Excess in the Collection Account; (iv) if, pursuant to a Borrower Notice, the Borrower has requested to make an Optional Prepayment of Advances on such Business Day, the Borrower shall deposit cash into the Collection Account in an amount equal to such Optional Repayment Amount; (v) if on such Business Day the Borrower Seller is required to make other payments under this Agreement not previously retained out of Collections (including Additional Amounts and Indemnified Amounts not previously paidas to which any Indemnified Person has made a demand on the Seller and which remain unpaid for five (5) or more Business Days), then the Borrower Seller shall deposit an amount equal to such payments in the Collection Account; (viv) if, on the prior immediately preceding Business Day, any Originator has repurchased a Transferred Receivable pursuant to SECTION 4.04 of the Parent Sale Agreement or made a capital contribution or payment as a result of a Rejected Amount, repurchased Ineligible Receivables, or substituted Ineligible Receivables with Eligible Receivables any Dilution Factors pursuant to SECTION 4.02(O) of the Receivables Transfer Sale Agreement, then the Borrower Seller shall deposit in the Collection Account cash in the amount so received from the Parent such Originator for such contribution or for such repurchase or payment; (vi) the Servicer shall deposit in the Collection Account;Account the Outstanding Balance of any Transferred Receivable the Servicer elects to pay pursuant to SECTION 7.04; AND (vii) the Servicer Seller shall deposit into in the Collection Account the Gross Contract Outstanding Balance of any Transferred Receivable it the Seller elects to pay pursuant to Section 7.03; and (viii) pursuant to Section 8.07, the Borrower shall deposit, or shall cause to be deposited, all proceeds in connection with any securitization with a third party trustee, conduit or similar entity in the Collection AccountSECTION 8.06(D). (b) If, two on or before the second Business Days prior to Day immediately preceding any Settlement Date, the Deal Administrative Agent notifies shall have notified the Borrower Seller of any Collection Retention Account Deficiency pursuant to Section 6.04(bSECTION 6.04(B), then the Borrower Seller shall deposit cash in the amount of such deficiency into in the Collection Account no later than 11:30 11:00 a.m. (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 to the Collection Account.

Funding of Collection Account. (a) No As soon as practicable and in any event, no later than 11:30 a.m. Pacific time then 10:00 a.m., on each Business Day: (i) The Borrower the Operating Agent shall instruct each Lockbox Account Bank to transfer all Collections deposited in the any Lockbox Account prior to such Business Day to the Collection Account immediately after such funds have cleared and become available in accordance with the policies of the Lockbox Account Bank; (ii) the Servicer shall transfer all Collections received by it or on its behalf with respect to Transferred Receivables prior to such Business Day to the Collection Account; (ii) the Purchaser shall, or shall cause the Collateral Agent to deposit in the Collection Account the amount required, pursuant to Section 2.04(b)(i); (iii) the Purchaser shall, or shall cause the Collateral Agent to, deposit any Seller LOC Draws made on such Business Day to the Collection Account; (iv) if, on the prior Business Day, the Deal Operating Agent has notified the Borrower Seller of any Borrowing Excess pursuant to Section 6.03Purchase Excess, the Borrower Seller shall deposit cash in the amount of such Borrowing Purchase Excess in the Collection Account; (iv) if, pursuant to a Borrower Notice, the Borrower has requested to make an Optional Prepayment of Advances on such Business Day, the Borrower shall deposit cash into the Collection Account in an amount equal to such Optional Repayment Amount; (v) if on such Business Day the Borrower Seller is required to make other payments under this Agreement not previously retained out of Collections (including Indemnified Amounts not previously paid), the Borrower Seller shall deposit an amount equal to such payments in the Collection Account; (vi) if, on the prior Business Day, the Parent Originator made a capital contribution or payment of a Rejected AmountAmount or repurchased a Transferred Receivable, repurchased Ineligible Receivables, or substituted Ineligible Receivables with Eligible Receivables pursuant to the Receivables Transfer Agreement, the Borrower Seller shall deposit cash in the amount received from the Parent Originator for such contribution or repurchase in the Collection Account;; and (vii) the Servicer shall deposit into the Collection Account the Gross Contract Outstanding Balance of any Transferred Receivable it elects to pay pursuant to Section 7.03; and (viii) pursuant to Section 8.07, the Borrower shall deposit, or shall cause to be deposited, all proceeds in connection with any securitization with a third party trustee, conduit or similar entity in the Collection Account7.04. (b) If, two Business Days prior to any Settlement Date, the Deal Operating Agent notifies the Borrower Seller of any Collection Retention Account Deficiency pursuant to Section 6.04(b), the Borrower Seller shall deposit cash in the amount of such deficiency into the Collection Account no later than 11:30 a.m. 1:00 p.m. on such Settlement Date. (c) On and after the Facility Termination Date, the Operating Agent shall transfer all amounts held in the Retention Account as of that date to the Collection Account.