Common use of Segregation of Collections Clause in Contracts

Segregation of Collections. The Servicer will: (i) prevent the deposit into any Account of any funds other than Collections or other funds to be deposited into such Account under this Indenture (provided that, this covenant shall not be breached to the extent that funds are inadvertently deposited into any of such Accounts and are promptly segregated and removed from the Account); and (ii) with respect to the Control Account either (a) prevent the deposit into such account of any funds other than Collections in respect of Pledged Loans or (b) enter into an intercreditor agreement with other entities which have an interest in the amounts in such Control Account to allocate the Collections with respect to Pledged Loans to the Issuer and transfer such amounts to the Trustee for deposit into the appropriate Collection Account (provided that, the covenant in clause (a) of this paragraph (ii) shall not be breached to the extent funds not constituting Collections in respect of Pledged Loans are inadvertently deposited into such Control Account and are promptly segregated and remitted to the owner thereof).

Segregation of Collections. The Servicer will: (i) prevent the deposit into any Account of any funds other than Collections or other funds to be deposited into such Account under this Indenture (provided that, this covenant shall not be breached to the extent that funds are inadvertently deposited into any of such Accounts and are promptly segregated and removed from the Account); and (ii) with respect to the Control each Lockbox Account either (ai) prevent the deposit into such account of any funds other than Collections in respect of Pledged Loans or (bii) enter into an intercreditor agreement with other entities which have an interest in the amounts in such Control Lockbox Account to allocate the Collections with respect to Pledged Loans to the Issuer and transfer such amounts to the Trustee for deposit into the appropriate Collection Account (provided that, the covenant in clause (ai) of this paragraph (iib) shall not be breached to the extent funds not constituting Collections in respect of Pledged Loans are inadvertently deposited into such Control Lockbox Account and are promptly segregated and remitted to the owner thereof).

Segregation of Collections. The Servicer will: (i) prevent the deposit into any Account of any funds other than Collections or other funds to be deposited into such Account under this Indenture (provided that, this covenant shall not be breached to the extent that funds are inadvertently deposited into any of such Accounts and are promptly segregated and removed from the Account); and (ii) with respect to the Control each Lockbox Account either (a) prevent the deposit into such account of any funds other than Collections in respect of Pledged Loans or (b) enter into an intercreditor agreement with other entities which have an interest in the amounts in such Control Lockbox Account to allocate the Collections with respect to Pledged Loans to the Issuer and transfer such amounts to the Trustee for deposit into the appropriate Collection Account (provided that, the covenant in clause (a) of this paragraph (ii) shall not be breached to the extent funds not constituting Collections in respect of Pledged Loans are inadvertently deposited into such Control Lockbox Account and are promptly segregated and remitted to the owner thereof).

Segregation of Collections. The Servicer will: (ia) prevent the deposit into any Account of any funds other than Collections or other funds to be deposited into such Account under this Indenture (provided that, this covenant shall not be breached to the extent that funds are inadvertently deposited into any of such Accounts and are promptly segregated and removed from the Account); and (iib) with respect to the Control each Lockbox Account either (ai) prevent the deposit into such account of any funds other than Collections in respect of Pledged Loans or (bii) enter into an intercreditor agreement with other entities which have an interest in the amounts in such Control Lockbox Account to allocate the Collections with respect to Pledged Loans to the Issuer and transfer such amounts to the Trustee for deposit into the appropriate Collection Account (provided that, the covenant in clause (ai) of this paragraph (iib) shall not be breached to the extent funds not constituting Collections in respect of Pledged Loans are inadvertently deposited into such Control Lockbox Account and are promptly segregated and remitted to the owner thereof).