Removal of Ineligible Accounts. (a) On or before the fifth Business Day after the date on which an Account becomes an Ineligible Account (which Business Day shall be deemed to be the Removal Commencement Date with respect to such Account) such Account shall be deemed a Randomly Selected Account. Within five Business Days after the Removal Commencement Date with respect to any Account that became a Randomly Selected Account pursuant to this Section 2.9, the Depositor shall furnish a Removal Notice to the Owner Trustee stating that the Removal Commencement Date for such Ineligible Account has occurred and specifying for each such Randomly Selected Account as of the Removal Commencement Date its account number and the Removal Balance. The Schedule of Accounts shall be amended to reflect such designation as of the Removal Commencement Date.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Superior Wholesale Inventory Financing Trust 2007-Ae-1), Trust Sale and Servicing Agreement (Wholesale Auto Receivables Corp)
Removal of Ineligible Accounts. (a) On or before the fifth Business Day after the date on which an Account becomes an Ineligible Account (which Business Day shall be deemed to be the Removal Commencement Date with respect to such Account) such Account shall be deemed a Randomly Selected Account. Within five Business Days after the Removal Commencement Date with respect to any Ineligible Account that became a Randomly Selected Account pursuant to this Section 2.9, the Depositor shall furnish a Removal Notice to the Owner Trustee stating that the Removal Commencement Date for such Ineligible Account has occurred and specifying for each such Randomly Selected Account as of the Removal Commencement Date its account number and the Removal Balance. The Schedule of Accounts shall be amended to reflect such designation as of the Removal Commencement Date.
Appears in 1 contract
Samples: Trust Sale and Servicing Agreement (SWIFT Master Auto Receivables Trust)
Removal of Ineligible Accounts. (a) On or before the fifth Business Day after the date on which an Account becomes an Ineligible Account (which Business Day shall be deemed to be the Removal Commencement Date with respect to such Account) such Account shall be deemed a Randomly Selected Account. Within five Business Days after the Removal Commencement Date with respect to any Ineligible Account that became a Randomly Selected Account pursuant to this Section 2.9, the Depositor shall furnish a Removal Notice to the Owner Trustee stating that the Removal Commencement Date for such Ineligible Account has occurred and specifying for each such Randomly Selected Account as of the Removal Commencement Date its account number and the Removal Balance. The Schedule of Accounts shall be amended to reflect such designation as of the Removal Commencement Date.
Appears in 1 contract
Samples: Trust Sale and Servicing Agreement (Wholesale Auto Receivables LLC)
