Common use of Payments on the Timeshare Loans Clause in Contracts

Payments on the Timeshare Loans. (a) The Servicer shall, in a manner consistent with the Servicing Standard, reflect all payments made under each Timeshare Loan and direct each Obligor to timely make all payments in respect of his or her Timeshare Loan to the Lockbox Account maintained at the Lockbox Bank. (b) On the Closing Date, the Servicer shall cause to be deposited to the Collection Account all amounts collected and received in respect of the Timeshare Loans after the related Cut-Off Date (without deduction for any Liquidation Expenses). (c) Subject to subsection (d) below, on each Monday, Wednesday, Friday (or if such day is not a Business Day, then on the next Business Day) and the last Business Day of that related calendar month, all collections in respect of the Timeshare Loans on deposit in the Lockbox Account in excess of $25,000 will be remitted to the Collection Account. (d) Liquidation Expenses shall be reimbursed to the Servicer in accordance with Section 3.2(a) hereof. To the extent that the Servicer has received any Liquidation Expenses as Additional Servicing Compensation and shall subsequently recover any portion of such Liquidation Expenses from the related Obligor, the Servicer shall deposit such amounts into Collection Account. (e) The Servicer agrees that to the extent it receives any amounts in respect of any insurance policies which are not payable to the Obligor or any other collections relating to the Trust Estate, it shall deposit such amounts to the Collection Account within two (2) Business days of receipt thereof (unless otherwise expressly provided herein).

Payments on the Timeshare Loans. (a) The Servicer shall, in a manner consistent with the Servicing Standard, reflect all payments made under each Timeshare Loan and direct each Obligor to timely make all payments in respect of his or her Timeshare Loan to the Lockbox Account maintained at the Lockbox Bank. (b) On the Closing Date, the Servicer shall cause to be deposited to the Collection Account all amounts collected and received in respect of the Timeshare Loans after the related Initial Cut-Off Date (without deduction for any Liquidation Expenses). (c) Subject to subsection (d) below, on each Monday, Wednesday, Friday (or or, if such day is not a Business Day, then on the next Business Day) and the last Business Day of that related calendar month, all collections in respect of the Timeshare Loans on deposit in the Lockbox Account in excess of $25,000 will be remitted to the Collection Account. (d) Liquidation Expenses shall be reimbursed to the Servicer in accordance with Section 3.2(a) hereof. To the extent that the Servicer has received any Liquidation Expenses as Additional Servicing Compensation and shall subsequently recover any portion of such Liquidation Expenses from the related Obligor, the Servicer shall deposit such amounts into Collection AccountAccount in accordance with Section 5.3(b) hereof. (e) The Servicer agrees that to the extent it receives any amounts in respect of any insurance policies which are not payable to the Obligor or any other collections relating to the Trust EstateCollateral, it shall deposit such amounts to the Collection Account within two (2) Business days of receipt thereof (unless otherwise expressly provided herein).

Payments on the Timeshare Loans. (a) a. The Servicer shall, in a manner consistent with the Servicing Standard, reflect all payments made under each Timeshare Loan and direct each Obligor to timely make all payments in respect of his or her Timeshare Loan to the Lockbox Account maintained at the Lockbox Bank. (b) b. On the Closing Date, the Servicer shall cause to be deposited to the Collection Account all amounts collected and received in respect of the Timeshare Loans after the related Cut-Off Date (without deduction for any Liquidation Expenses). (c) c. Subject to subsection (d) below, on each Monday, Wednesday, Friday (or if such day is not a Business Day, then on the next Business Day) and the last Business Day of that related calendar month, all collections in respect of the Timeshare Loans on deposit in the Lockbox Account in excess of $25,000 will be remitted to the Collection Account. (d) d. Liquidation Expenses shall be reimbursed to the Servicer in accordance with Section 3.2(a) hereof. To the extent that the Servicer has received any Liquidation Expenses as Additional Servicing Compensation and shall subsequently recover any portion of such Liquidation Expenses from the related Obligor, the Servicer shall deposit such amounts into Collection Account. (e) e. The Servicer agrees that to the extent it receives any amounts in respect of any insurance policies which are not payable to the Obligor or any other collections relating to the Trust Estate, it shall deposit such amounts to the Collection Account within two (2) Business days of receipt thereof (unless otherwise expressly provided herein).

Payments on the Timeshare Loans. (a) The Servicer shall, in a manner consistent with the Servicing Standard, reflect collect all payments made under each Timeshare Loan and direct each Obligor to timely make all payments in respect of his or her Timeshare Loan to the Lockbox Account maintained at the Lockbox Bank. (b) On the Closing Date, the Servicer shall cause to be deposited to the Collection Account all amounts collected and received in respect of the Initial Timeshare Loans after the related Initial Cut-Off Date (without deduction for any Liquidation Expenses). (c) Subject to subsection (d) below, on each Monday, Wednesday, Friday (or if such day is not a Business Day, then on the next Business Day) and Indenture Trustee shall direct the last Business Day of that related calendar month, Lockbox Bank to remit all collections in respect of the Timeshare Loans on deposit in the Lockbox Account in excess of $25,000 will be remitted to the Collection AccountAccount on each Business Day via automated repetitive wire. (d) Liquidation Expenses shall be reimbursed to the Servicer in accordance with Section 3.2(a) hereof. To the extent that the Servicer has received any Liquidation Expenses as Additional Servicing Compensation and shall subsequently recover any portion of such Liquidation Expenses from the related Obligor, the Servicer shall deposit such amounts into the Collection AccountAccount in accordance with Section 5.3(b) hereof. (e) The Servicer agrees that to the extent it receives any amounts in respect of any insurance policies which are not payable to the Obligor or any other collections relating to the Trust Estate, it shall deposit such amounts to the Collection Account within two (2) Business days Days of receipt thereof (unless otherwise expressly provided herein).

Payments on the Timeshare Loans. (a) The Servicer shall, in a manner consistent with the Servicing Standard, reflect collect all payments made under each Timeshare Loan and direct each applicable Obligor to timely make all payments in respect of his or her Timeshare Loan to the Lockbox Account maintained at the Lockbox Bank. (b) On the Closing each Funding Date, the Servicer shall cause to be deposited to the Collection Account all amounts collected and received in respect of the related Timeshare Loans after the related Cut-Off Date (without deduction for any Liquidation Expenses). (c) Subject to subsection (d) below, on each Monday, Wednesday, Friday (or if such day is not a Business Day, then on the next Business Day) and Indenture Trustee shall direct the last Business Day of that related calendar month, Lockbox Bank to remit all collections in respect of the Timeshare Loans on deposit in the Lockbox Account in excess of $25,000 will be remitted to the Collection AccountAccount on each Business Day via automated repetitive wire. (d) Liquidation Expenses shall be reimbursed to the Servicer in accordance with Section 3.2(a) hereof. To the extent that the Servicer has received any Liquidation Expenses as Additional Servicing Compensation and shall subsequently recover any portion of such Liquidation Expenses from the related Obligor, the Servicer shall deposit such amounts into the Collection AccountAccount in accordance with Section 5.3(b) hereof. (e) The Servicer agrees that to the extent it receives any amounts in respect of any insurance policies which are not payable to the Obligor or any other collections relating to the Trust Estate, it shall deposit such amounts to the Collection Account within two (2) Business days Days of receipt thereof (unless otherwise expressly provided herein).

Payments on the Timeshare Loans. (a) a. The Servicer shall, in a manner consistent with the Servicing Standard, reflect all payments made under each Timeshare Loan and direct each Obligor to timely make all payments in respect of his or her Timeshare Loan to the Lockbox Account maintained at the Lockbox Bank. (b) b. On the Closing Date, the Servicer shall cause to be deposited to the Collection Account all amounts collected and received in respect of the Timeshare Loans after the related Cut-Off Date (without deduction for any Liquidation Expenses). (c) c. Subject to subsection (d) below, on each Monday, Wednesday, Friday (or if such day is not a Business Day, then on the next Business Day) and the last Business Day of that related calendar month, all collections in respect of the Timeshare Loans on deposit in the Lockbox Account in excess of $25,000 will be remitted to the Collection Account. (d) d. Liquidation Expenses shall be reimbursed to the Servicer in accordance with Section 3.2(a) hereof. To the extent that the Servicer has received any Liquidation Expenses as Additional Servicing Compensation and shall subsequently recover any portion of such Liquidation Expenses from the related Obligor, the Servicer shall deposit such amounts into Collection Account. (e) e. The Servicer agrees that to the extent it receives any amounts in respect of any insurance policies which are not payable to the Obligor or any other collections relating to the Trust EstateCollateral, it shall deposit such amounts to the Collection Account within two (2) Business days of receipt thereof (unless otherwise expressly provided herein).