Common use of Pre-Closing Collections Clause in Contracts

Pre-Closing Collections. Within two Business Days after the Closing Date, the Seller shall transfer to the account or accounts designated by ACOLT all ACOLT Collections with respect to the Lease Assets conveyed to ACOLT on such Closing Date pursuant to Section 2.01 that are held by the Seller on such Closing Date; provided, however, that so long as the Monthly Remittance Condition is satisfied, such ACOLT Collections need not be transferred until the first Distribution Date occurring after the Closing Date.

Pre-Closing Collections. Within two Business Days after the Closing Date, the Seller shall transfer to the account or accounts designated by ACOLT AFLT all ACOLT AFLT Collections with respect to the Lease Assets conveyed to ACOLT AFLT on such Closing Date pursuant to Section 2.01 that are held by the Seller on such Closing Date; provided, however, that so long as the Monthly Remittance Condition is satisfied, such ACOLT AFLT Collections need not be transferred until the first Distribution Date occurring after the Closing Date.