Proceeds Held by Servicer. For the purposes of subsection 2.4(d)(i) above, proceeds of a Receivable shall not be deemed to be impaired hereunder solely because such proceeds are held by Servicer (if Servicer is an Originator).
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Mellon Bank Premium Finance Master Trust), Pooling and Servicing Agreement (Mellon Bank Premium Finance Loan Master Trust)
Proceeds Held by Servicer. For the purposes of subsection subsections 2.4(d)(i) and (ii) above, proceeds of a Receivable shall not be deemed to be impaired hereunder solely because such proceeds are held by the Servicer (if the Servicer is an Originator)DNB, DNB-La., Dillard's or a Sub-Servicer) for more than the applicable period under Section 9-306(3) of the UCC.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Dillard Asset Funding Co), Pooling and Servicing Agreement (Dillard Asset Funding Co)
