Receipt of Payments in Trust. All payments received by the Borrowers or the Servicer under or in connection with the Collateral shall be received in trust for the benefit of the Administrative Agent, shall be segregated from other funds of such party and shall be forthwith paid over to the Administrative Agent or deposited in the applicable Concentration Account in the same form as so received (with any necessary endorsement).
Appears in 3 contracts
Samples: Receivables Financing Agreement (Herc Holdings Inc), Receivables Financing Agreement (Herc Holdings Inc), Receivables Financing Agreement (Herc Holdings Inc)
Receipt of Payments in Trust. All payments ---------------------------- received by the Borrowers Borrower, the Parent, the Servicer, the Lenders or the Servicer Deal Agent under or in connection with the Collateral shall be received in trust for the benefit of the Administrative Collateral Agent, shall be segregated from other funds of such party and shall be forthwith paid over to the Administrative Collateral Agent or deposited in the applicable Concentration Account in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Samples: Receivables Funding and Servicing Agreement (Consumer Portfolio Services Inc)
Receipt of Payments in Trust. All payments received by the Borrowers Borrower or the Servicer under or in connection with the Collateral shall be received in trust for the benefit of the Administrative Agent, shall be segregated from other funds of such party and shall be forthwith paid over to the Administrative Agent or deposited in the applicable Concentration Lockbox Account in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Samples: Receivables Loan and Security Agreement (Volt Information Sciences, Inc.)
Receipt of Payments in Trust. All payments received by the Borrowers Borrower or the Servicer under or in connection with the Collateral shall be received in trust for the benefit of the Administrative Agent, shall be segregated from other funds of such party and shall be forthwith paid over to the Administrative Agent or deposited in the Lockbox Account applicable Concentration Account thereto in the same form as so received (with any necessary endorsement).
Appears in 1 contract
Samples: Receivables Loan and Security Agreement (Volt Information Sciences, Inc.)
