Release of Collections. On any Business Day after the Administrative Agent has taken exclusive dominion and control of the Collection Accounts, so long as each of the conditions precedent set forth in Section 5.03 are satisfied (as reasonably determined by the Administrative Agent), the Administrative Agent shall release to the Seller from Collections on deposit in the Cash Dominion Administration Account an amount equal to the Maximum Release Amount on such day. The proceeds of each Release shall be applied by the Seller to pay (x) the purchase price for Receivables purchased by the Seller on such date in accordance with the terms of the Transfer Agreement, (y) any accrued and unpaid Servicing Fees owing to Rackspace or (z) the deferred purchase price for any previously purchased Receivables. The Seller shall notify the Administrative Agent if any of the conditions for a Release set forth in Section 5.03 are not satisfied on such day. If the Administrative Agent has not taken exclusive dominion and control of the Collection Accounts, any Releases shall be made in accordance with Section 3.01(a). SECTION 8.04
Release of Collections. In the event that the Servicer releases any Collections from the Collection Account in contravention of the Series 2017-One Indenture Supplement or any other Transaction Document to which the Servicer is a party, the Servicer shall pay to the Issuer, in immediately available funds, the amount of such improperly released Collections.
Release of Collections. On any Business Day after the Administrative Agent has taken exclusive dominion and control of the Collateral Accounts, so long as each of the conditions precedent set forth in Section 6.03 are satisfied (as reasonably determined by the Administrative Agent), the Administrative Agent shall release to the Borrower from Collections on deposit in the Cash Dominion Administration Account an amount equal to the Maximum Release Amount on such day. The proceeds of each Release shall be applied by the Borrower to pay (x) the purchase price for Receivables purchased by the Borrower on such date in accordance with the terms of the Second Tier Sale and Contribution Agreement, (y) any accrued and unpaid Servicing Fees owing to Aveanna or (z) the deferred purchase price for any previously purchased Receivables or as a return of capital to the Transferor. The Borrower shall notify the Administrative Agent if any of the conditions for a Release set forth in Section 6.03 are not satisfied on such day. If the Administrative Agent has not taken exclusive dominion and control of the Collateral Accounts, any Releases shall be made in accordance with Section 4.01(a).
Release of Collections. (i) On any day that is not a Termination Day, Servicer shall remit to the Seller (or hold on behalf of the Seller), for the Seller’s own account, all Collections and other funds in the Concentration Account or any Collection Account that are not required to be retained in the Concentration Account pursuant to Section 1.4(b). The portion of such Collections that constitute Reinvestment Collections shall be released to the Seller as a Reinvestment payment pursuant to Section 1.1(d). Any Collections on Sold Receivables that are not Reinvestment Collections and that are released to the Seller under this subsection (c)(i) or that are distributed to the Seller pursuant to priority sixth of Section 1.4(e) shall constitute a guaranty fee for the provision by the Seller of the Seller Guaranty.
Release of Collections. (i) On any day that is not a Termination Day, Servicer shall remit to the Seller (or hold on behalf of the Seller), for the Seller’s own account, all Collections and other funds in the Concentration Account or any Collection Account that are not required to be retained in the Concentration Account pursuant to Section 1.4(b). The portion of such Collections that constitute Reinvestment Collections shall be released to the Seller as a Reinvestment payment pursuant to Section 1.1(d). Any Collections on Sold Receivables that are not Reinvestment Collections and that are released to the Seller under this subsection (c)(i) or that are distributed to the Seller pursuant to priority sixth of Section 1.4(e) shall constitute a guaranty fee for the provision by the Seller of the Seller Guaranty.
