RETAIL CONTRACT PAYMENTS. 1. Retail contract payments shall be deposited into the custodial bank accounts and related bank clearing accounts within two business days of receipt. 2. Retail contract payments made in accordance with the retail contract documents shall be posted to the applicable retail contract records within two business days of receipt. 3. Retail contract payments shall be allocated to principal, interest, insurance, taxes or other items, as applicable, in accordance with the Servicer’s customary servicing procedures. 4. Retail contract payments identified as loan payoffs shall be allocated in accordance with the retail contract documents.
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Samples: Servicing Agreement (Navistar Financial Corp), Servicing Agreement (Navistar Financial Corp), Servicing Agreement (Navistar Financial Corp)
RETAIL CONTRACT PAYMENTS. 1. Retail contract payments shall be deposited into the custodial bank accounts and related bank clearing accounts within two business days of receiptreceipt and identification.
2. Retail contract payments made in accordance with the retail contract documents shall be posted to the applicable retail contract records within two business days of receiptreceipt and identification.
3. Retail contract payments shall be allocated to principal, interest, insurance, taxes or other items, as applicable, in accordance with the Servicer’s customary servicing procedures.
4. Retail contract payments identified as loan payoffs shall be allocated in accordance with the retail contract documents.
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