Non-Liquidation Settlement Procedures. On each day prior to the Termination Date, the Servicer shall: out of Collections in respect of each Percentage Interest received on such day, (i) set aside on its books and hold in trust for the Owner of such Percentage Interest an amount equal to the Yield and Servicing Fee accrued through such day for such Percentage Interest and not so previously set aside, (ii) set aside on its books and pay to the Agent and the Owners amounts then due to them hereunder including without limitation Section 10.07 that have not been paid and (iii) subject to Section 3.02, reinvest the remainder of such Collections (such reinvested portion of Collections being "Reinvested Collections"), for the benefit of such Owner, by recomputation of such Percentage Interest pursuant to Section 2.03 as of the end of such day and the payment of such remainder to the Seller or such other Person as the Seller shall direct; provided that if for any reason any portion of such remaining Collections cannot be so reinvested (including, without limitation, the inability to satisfy the conditions in Section 3.02) or are not to be reinvested pursuant to Section 2.06(b), the Servicer shall set aside such portion on its books and hold such portion in trust for the Owner of such Percentage Interest. The recomputed Percentage Interest shall constitute the percentage ownership interest in the Receivables on such day held by such Owner. On each Settlement Date in respect of each Purchase Period for each Percentage Interest to occur prior to the Termination Date (and, if the Agent shall so request following a Transition Event, on each Business Day during such Purchase Period), the Servicer shall deposit to the Agent's Account the amounts set aside as described in the first sentence of this Section 2.05 other than (unless the Agent shall specify otherwise) amounts set aside for Servicing Fee (which amounts the Servicer shall retain for its own account). It is understood that funds reinvested as provided in clause (iii) of such sentence shall not be so deposited. Upon receipt of such funds by the Agent, the Agent shall distribute them first, to the Owner of such Percentage Interest in full payment of the accrued Yield for such Percentage Interest and any other amounts then due to such Owner hereunder, second, to the Servicer in full payment of the accrued Servicing Fee payable with respect to such Percentage Interest, and third to the partial liquidation of the Owners' Percentage Interests as contemplate...
Non-Liquidation Settlement Procedures. On each day ------------------------------------- (other than a Liquidation Day or a Provisional Liquidation Day) during each Settlement Period for each Share, the Collection Agent shall: (i) out of Collections of Pool Receivables attributable to such Share received on such day, set aside and hold in trust for the Owner of such Share an amount equal to the Yield, Miscellaneous Fees and Collection Agent Fee accrued through such day for such Share and not so previously set aside and (ii) reinvest the remainder of such Collections, for the benefit of such Owner, by recomputation of such Share pursuant to Section 2.04 as of the end of such day and the payment of such remainder to the Seller; provided, however, that, to the extent that the Agent -------- ------- or any Owner shall be required for any reason to return any amount of Collections which shall have been previously reinvested for the account of such Owner pursuant hereto, such amount shall be deemed not to have been so applied but rather to have been retained by the Seller for the account of such Owner and, notwithstanding any provision hereof to the contrary, such Owner shall have a claim for such amount. On the first day of each calendar month, the Collection Agent shall deposit to the Agent's Account for the account of the Owner of each Share the amounts set aside as described in clause (i) of the first sentence of this Section 2.05 during the preceding calendar month; provided, however, that, -------- ------- if a Liquidation Day shall occur during any Settlement Period for any Share during such preceding calendar month, the Collection Agent shall so deposit such amounts on the last day of such Settlement Period. Upon receipt of such funds by the Agent, the Agent shall distribute them first to the Owner of such Share in payment of the accrued Yield and Miscellaneous Fees for such Share and then to the Collection Agent in payment of the accrued Collection Agent Fee payable with respect to such Share. If there shall be insufficient funds on deposit for the payment in full of the aforementioned amounts, the Agent shall distribute funds, first, in payment of the accrued Collection Agent Fee payable with respect to such Share, and second, in payment of the accrued Yield for such Share and third, in payment of the accrued Miscellaneous Fees payable with respect to such Share.
Non-Liquidation Settlement Procedures. (a) On each day (other than a Liquidation Day) the Agent shall, out of Collections of Pool Receivables received on such day:
Non-Liquidation Settlement Procedures. The provisions of this Section 2.7 shall apply during the term of this Agreement prior to the occurrence of the Payout Event.
Non-Liquidation Settlement Procedures. On each day (other than a Liquidation Day or a Provisional Liquidation Day) during each Settlement Period for each Eligible Asset, the Collection Agent shall: (i) out of Collections of Pool Receivables attributable to such Eligible Asset received on such day, set aside and hold in trust for the Owner of such Eligible Asset an amount equal to the Yield and Collection Agent Fee accrued through such day for such Eligible Asset and not so previously set aside and (ii) reinvest the remainder of such Collections, for the benefit of such Owner, by recomputation of such Eligible Asset pursuant to Section 2.04 as of the end of such day and the payment of such remainder to the Seller; provided, however, that, to the extent that the Agent or any Owner shall be required for any reason to pay over any amount of Collections which shall have been previously reinvested for the account of such Owner pursuant hereto, such amount shall be deemed not to have been so applied but rather to have been retained by the Seller and paid over for the account of such Owner and, notwithstanding any provision hereof to the contrary,
Non-Liquidation Settlement Procedures. Prior to the Termination Date, on each Payment Date, the Cash Administrator shall pay to the following Persons, from the Collection Account, to the extent of Available Amounts on deposit in the Collection Account with respect to the related Collection Period (and after giving effect to any transfers into the Collection Account contemplated in Section 2.3(e)), the following amounts in the following order of priority:
Non-Liquidation Settlement Procedures. (a) On each day (other than a Liquidation Day) on which Collections are received in the Collection Account, Custodian shall set aside and hold all such funds in trust for the benefit of Paying Agent and the recipients described below. On each Interest Payment Date, Paying Agent will in turn transfer such funds to the recipients described below in accordance with the terms of the Paying Agent Agreement.
Non-Liquidation Settlement Procedures. (a) On each day (other than a Liquidation Day) during each Monthly Period, the Servicer shall:
Non-Liquidation Settlement Procedures. (a) Except as set forth in subsection (d) of this SECTION 2.05, on each Business Day (other than a Liquidation Day or a Provisional Liquidation Day) during any Daily Reporting Period, the Servicer shall cause all those funds on deposit in the Lock-Box Accounts that constitute Collections of Pool Receivables to be transferred electronically in immediately available funds to the Concentration Account, and shall, based on the Daily Report delivered by the Servicer to each Group Managing Agent and the Administrative Agent on such Business Day pursuant to SECTION 2.07(C), at that time and in the following order:
Non-Liquidation Settlement Procedures. . . . 24 SECTION 2.06.
