Common use of Segregation of Collections Clause in Contracts

Segregation of Collections. Such Seller shall use best efforts to minimize the deposit of any funds other than Collections into any of the Lockbox Accounts and, to the extent that any such funds nevertheless are deposited into any of the Lockbox Accounts, shall promptly identify any such funds, or shall cause the funds to be so identified, to Buyer, the Servicer, the Trustee and each Required Person (following which notice, Buyer shall use best efforts to cause the Servicer to return all the funds to such Seller).

Appears in 2 contracts

Samples: Receivables Purchase Agreement (International Comfort Products Corp), Receivables Purchase Agreement (International Comfort Products Corp)

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Segregation of Collections. Such Seller shall use best reasonable efforts to minimize the deposit of any funds other than Collections into any of the Lockbox Accounts and, to the extent that any such funds nevertheless are deposited into any of the Lockbox Accounts, shall promptly identify any such funds, or shall cause the funds to be so identified, to Buyer, the Servicer, Servicer and the Trustee and each Required Person (following which notice, Buyer shall use best efforts to cause the Servicer to return all the funds to such Seller).

Appears in 2 contracts

Samples: Receivables Purchase Agreement (Vertis Inc), Receivables Purchase Agreement (Big Flower Press Holdings Inc)

Segregation of Collections. Such Seller shall use best reasonable -------------------------- efforts to minimize the deposit of any funds other than Collections into any of the Lockbox Accounts and, to the extent that any such funds nevertheless are deposited into any of the Lockbox Accounts, shall promptly identify any such funds, or shall cause the funds to be so identified, to Buyer, the Servicer, the Trustee Servicer and each Required Person Second Step Purchaser (following which notice, Buyer shall use best efforts to cause the Servicer to promptly return all the funds to such Seller).

Appears in 1 contract

Samples: Sale Agreement (Exide Corp)

Segregation of Collections. Such Seller shall use best reasonable efforts to minimize the deposit of any funds other than Collections into any of the Lockbox Accounts and, to Accounts. To the extent that any such funds nevertheless are deposited into any of the Lockbox Accounts, Seller shall promptly identify any such funds, or shall cause the funds to be so identified, to Buyer, the Servicer, the Trustee Servicer and each Required Person Second Step Purchaser (following which notice, Buyer shall use best efforts be obligated to promptly return, or cause the Servicer to return of, all the such extraneous funds to such Seller).

Appears in 1 contract

Samples: Sale and Contribution Agreement (Volt Information Sciences Inc)

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Segregation of Collections. Such Seller shall use best reasonable -------------------------- efforts to minimize the deposit of any funds other than Collections or First Chicago Collections into any of the Lockbox Accounts and, to the extent that any such funds nevertheless are deposited into any of the Lockbox Accounts, shall promptly identify any such funds, or shall cause the funds to be so identified, to Buyer, the Servicer, Servicer and the Trustee and each Required Person Third Party Financiers (following which notice, Buyer shall use best efforts to cause the Servicer to return all the funds to such Seller).

Appears in 1 contract

Samples: Receivables Purchase Agreement (Alliance Laundry Holdings LLC)

Segregation of Collections. Such Seller shall use best reasonable efforts to minimize the deposit of any funds other than Collections into any of the Lockbox Accounts and, to the extent that any such funds nevertheless are deposited into any of the Lockbox Accounts, shall promptly identify any such funds, or shall cause the funds to be so identified, to Buyer, the Servicer, the Trustee Servicer and each Required Person Second Step Purchaser (following which notice, Buyer shall use best efforts to cause the Servicer to promptly return all the funds to such Seller).

Appears in 1 contract

Samples: Sale Agreement (Exide Corp)

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