Common use of Liquidation Settlements Clause in Contracts

Liquidation Settlements. (a) Notwithstanding the provisions of Sections 5.03(a) and (b) and Section 12.05 hereof, on each Liquidation Day with regard to each Settlement Period, the Servicer shall allocate to the Administrative Agent, and hold in trust for the benefit of, the Administrative Agent on behalf of each Buyer for payment in accordance with Section 5.04(b), an amount of Collections equal to the product of (i) such Buyer's Buyer's Allocation, and (ii) Collections in respect of the Purchased Receivables for such Liquidation Day. The Collections allocated to the Administrative Agent on behalf of each Buyer pursuant to this section shall be allocated pro rata on a daily basis (i) first, to the payment of any Cost of Funds and Program Fee accrued and owing to each Buyer, (ii) second, subject to Section 6.06(e), to the payment of any Servicer's Compensation accrued and owing to the Servicer, (iii) third, to make payment in respect of any Facility Fee accrued and owing to each Buyer, (iv) fourth, to make payment in respect of the Aggregate Net Investment, and (v) fifth, to the payment of any other amounts accrued and owing to the Buyers, the Managing Agents or the Administrative Agent under this Agreement. Any amount of such Collections which were not allocated to the Administrative Agent for the benefit of the Buyers pursuant to the first sentence of this Section 5.04 on such Liquidation Day, shall be remitted by the Servicer to the Seller. (b) Collections held by the Servicer on behalf of the Administrative Agent pursuant to this Section 5.04 shall be remitted to the Administrative Agent on the date which is the earlier of (i) two (2) Business Days or (ii) the number of days specified in Section 9-315(d) of the Uniform Commercial Code as in effect in the jurisdiction whose Laws govern the rights of the Buyers in and to any such Collections after the Servicer receives such Collections.

Liquidation Settlements. (a) Notwithstanding the provisions of Sections 5.03(a) and (b) and Section 12.05 hereof, on each Liquidation Day with regard to each Settlement Period, the Servicer shall allocate to the Administrative Agentto, and hold in trust for the benefit of, the Administrative Agent on behalf of each Buyer for payment in accordance with Section 5.04(b), an amount of Collections equal to the product of (i) such Buyer's the Buyer's Allocation, and (ii) Collections in respect of the Purchased Receivables for such Liquidation Day. The Collections allocated to the Administrative Agent on behalf of each Buyer pursuant to this section shall be allocated pro rata on a daily basis (i) first, to the payment of any Cost of Funds and Program Fee Settlement Period Amount accrued and owing to each the Buyer, (ii) second, subject to Section 6.06(e), to the payment of any Servicer's Compensation accrued and owing to the Servicer, (iii) third, to make payment in respect of any Facility Purchase Availability Fee accrued and owing to each the Buyer, (iv) fourth, to make payment in respect of the Aggregate Net Investment, and (v) fifth, to the payment of any other amounts amount accrued and owing to the Buyers, the Managing Agents or the Administrative Agent Buyer under this Agreement. Any amount of such Collections which were not allocated to the Administrative Agent for the benefit of the Buyers Buyer pursuant to the first sentence of this Section 5.04 on such Liquidation Day, shall be remitted by the Servicer to the Seller. (b) Collections held by the Servicer on behalf of the Administrative Agent Buyer pursuant to this Section 5.04 shall be remitted to the Administrative Agent Buyer on the date which is the earlier of (i) two (2) Business Days or (ii) the number of days specified in Section 9-315(d306(4)(d) of the Uniform Commercial Code as in effect in the jurisdiction whose Laws govern the rights of the Buyers Buyer in and to any such Collections after the Servicer receives such Collections.

Liquidation Settlements. (a) Notwithstanding the provisions of Sections 5.03(a) and (b) and Section 12.05 hereof, on each Liquidation Day with regard to each Settlement Period, the Servicer shall allocate to the Administrative Agentto, and hold in trust for the benefit of, the Administrative Agent on behalf of each Buyer for payment in accordance with Section 5.04(b), an amount of Collections equal to the product of (i) such Buyer's the Buyer's Allocation, and (ii) Collections in respect of the Purchased Receivables for such Liquidation Day. The Collections allocated to the Administrative Agent on behalf of each Buyer pursuant to this section shall be allocated pro rata on a daily basis (i) first, to the payment of any Cost of Funds and Program Fee accrued and owing to each the Buyer, (ii) second, subject to Section 6.06(e), to the payment of any Servicer's Compensation accrued and owing to the Servicer, (iii) third, to make payment in respect of any Facility Fee accrued and owing to each the Buyer, (iv) fourth, to make payment in respect of the Aggregate Net Investment, and (v) fifth, to the payment of any other amounts amount accrued and owing to the Buyers, the Managing Agents or the Administrative Agent Buyer under this Agreement. Any amount of such Collections which were not allocated to the Administrative Agent for the benefit of the Buyers Buyer pursuant to the first sentence of this Section 5.04 on such Liquidation Day, shall be remitted by the Servicer to the Seller. (b) Collections held by the Servicer on behalf of the Administrative Agent Buyer pursuant to this Section 5.04 shall be remitted to the Administrative Agent Buyer on or before the date which is the earlier of (i) two (2) Business Days or (ii) the number of days specified in Section 9-315(d) of the Uniform Commercial Code as in effect in the jurisdiction whose Laws govern the rights of the Buyers in and to any such Collections after the Servicer receives such Collections.

Liquidation Settlements. (a) Notwithstanding the provisions of Sections 5.03(a) and (b) and Section 12.05 hereof, on each Liquidation Day with regard to each Settlement Period, the Servicer shall allocate to the Administrative Agent, and hold in trust for the benefit of, the Administrative Agent on behalf of each Buyer for payment in accordance with Section 5.04(b), an amount of Collections equal to the product of (i) such Buyer's ’s Buyer's ’s Allocation, and (ii) Collections in respect of the Purchased Receivables for such Liquidation Day. The Collections allocated to the Administrative Agent on behalf of each Buyer pursuant to this section shall be allocated pro rata on a daily basis (i) first, to the payment of any Cost of Funds and Program Fee accrued and owing to each Buyer, (ii) second, subject to Section 6.06(e), to the payment of any Servicer's ’s Compensation accrued and owing to the Servicer, (iii) third, to make payment in respect of any Facility Fee accrued and owing to each Buyer, (iv) fourth, to make payment in respect of the Aggregate Net Investment, and (v) fifth, to the payment of any other amounts accrued and owing to the Buyers, the Managing Agents or the Administrative Agent under this Agreement. Any amount of such Collections which were not allocated to the Administrative Agent for the benefit of the Buyers pursuant to the first sentence of this Section 5.04 on such Liquidation Day, shall be remitted by the Servicer to the Seller. (b) Collections held by the Servicer on behalf of the Administrative Agent pursuant to this Section 5.04 shall be remitted to the Administrative Agent on the date which is the earlier of (i) two (2) Business Days or (ii) the number of days specified in Section 9-315(d) of the Uniform Commercial Code as in effect in the jurisdiction whose Laws govern the rights of the Buyers in and to any such Collections after the Servicer receives such Collections.

Liquidation Settlements. (a) Notwithstanding the provisions of Sections 5.03(a) and (b) and Section 12.05 hereof, on each Liquidation Day with regard to each Settlement Period, the Servicer shall allocate to the Administrative AgentAdministrator (on behalf of each Buyer), and hold in trust for the benefit of, of the Administrative Agent Administrator (on behalf of each Buyer Buyer) for payment in accordance with Section 5.04(b), an amount of Collections equal to the product of (i) such Buyer's Buyer's Allocation, and (ii) Collections in respect of the Purchased Receivables for such Liquidation Day. The Collections allocated to the Administrative Agent Administrator on behalf of each Buyer pursuant to this section shall be allocated pro rata on a daily basis (i) first, to the payment of any Cost of Funds and Program Fee accrued and owing to each Buyer, (ii) second, subject to Section 6.06(e), to the payment of any Servicer's Compensation accrued and owing to the Servicer, (iii) third, to make payment in respect of any Facility Fee accrued and owing to each Buyer, (iv) fourth, to make payment in respect of the Aggregate Net Investment, and (v) fifth, to the payment of any other amounts amount accrued and owing to the BuyersAdministrator, the Managing Buyers and the Buyer Agents or the Administrative Agent under this Agreement. Any amount of such Collections which were not allocated to the Administrative Agent for the benefit Administrator (on behalf of the Buyers each Buyer) pursuant to the first sentence of this Section 5.04 on such Liquidation Day, Day shall be remitted by the Servicer to the Seller. (b) Collections held by the Servicer (on behalf of the Administrative Agent Administrator) on behalf of each Buyer pursuant to this Section 5.04 shall be remitted to the Administrative Agent Administrator on or before the date which is the earlier of (i) two (2) Business Days or (ii) the number of days specified in Section 9-315(d) of the Uniform Commercial Code as in effect in the jurisdiction whose Laws govern the rights of the Buyers in and to any such Collections after the Servicer receives such Collections.