Common use of Remittance Date Transfers From Collection Account Clause in Contracts

Remittance Date Transfers From Collection Account. The Servicer shall, with the prior written consent of the Collateral Agent, and if the Servicer fails to do so, the Collateral Agent shall, by 10:00 a.m. (St. Xxxx, Minnesota time) on each Remittance Date, direct the Lenders’ Bank to transfer collected funds held by the Lenders’ Bank in the Collection Account which were remitted to the Collection Account during the Collection Period with respect to such Remittance Date (“Available Funds”), in the following amounts and priority; provided, however, that if the Lenders’ Bank does not receive such instruction from (i) the Servicer (accompanied by the Collateral Agent’s written consent) or (ii) the Collateral Agent by 10:00 a.m. (St. Xxxx, Minnesota time) on such Remittance Date, subject to the provisions of the Discrepancy Procedure, the Lenders’ Bank shall apply such funds in accordance with the information calculated by the Servicer on the related Monthly Remittance Report:

Remittance Date Transfers From Collection Account. The Servicer shall, with the prior written consent of the Collateral Agent, and if the Servicer fails to do so, so the Collateral Agent shall, by 10:00 a.m. (St. Xxxx, Minnesota time) on each Remittance Date, direct the Lenders’ Lender’s Bank to transfer collected funds held by the Lenders’ Lender’s Bank in the Collection Account which were remitted to the Collection Account during the Collection Period with respect to such Remittance Date (“Available Funds”), in the following amounts and priority; provided, however, that if the Lenders’ Lender’s Bank does not receive such instruction from (i) the Servicer (accompanied by the Collateral Agent’s written consent) or (ii) the Collateral Agent by 10:00 a.m. (St. Xxxx, Minnesota time) on such Remittance Date, subject to the provisions of the Discrepancy Procedure, the Lenders’ Lender’s Bank shall apply such funds in accordance with the information calculated by the Servicer on the related Monthly Remittance Report:

Remittance Date Transfers From Collection Account. The Servicer shall, with the prior written consent of the Collateral Agent, and if the Servicer fails to do so, so the Collateral Agent shall, by 10:00 a.m. (St. XxxxPxxx, Minnesota time) on each Remittance Date, direct the Lenders’ Lender’s Bank to transfer collected funds held by the Lenders’ Lender’s Bank in the Collection Account which were remitted to the Collection Account during the Collection Period with respect to such Remittance Date (“Available Funds”), in the following amounts and priority:; provided, however, that if the Lenders’ Lender’s Bank does not receive such instruction from (i) the Servicer (accompanied by the Collateral Agent’s written consent) or (ii) the Collateral Agent by 10:00 a.m. (St. XxxxPxxx, Minnesota time) on such Remittance Date, subject to the provisions of the Discrepancy Procedure, the Lenders’ Lender’s Bank shall apply such funds in accordance with the information calculated by the Servicer on the related Monthly Remittance Report: