Common use of Transfer of Collections Payments From Servicer to Purchaser Account Clause in Contracts

Transfer of Collections Payments From Servicer to Purchaser Account. Servicer will collect all amounts due in respect of the Purchased Receivable on behalf of Purchaser and covenants (i) to promptly (and in any event on the date of receipt thereof to the extent practicable) transfer by wire transfer all Collections Payments relating to the Purchased Receivable (which for the avoidance of doubt, shall not exceed the Allocation Percentage of the Collections) to the Purchaser Account on account of the Purchased Receivable, (ii) not to change the payment instructions while the Purchased Receivable remains outstanding, and (iii) to take any and all other actions, including actions reasonably requested by Purchaser, to ensure that all amounts owing under the Purchased Receivable, including amounts with respect to Dilution of the Purchased Receivable, will be paid exclusively to Seller and transferred to the Purchaser Account as provided herein. Except as set forth in Section 5(e) hereof, nothing shall prevent Seller from taking any action with respect to the Receivable Balance to the extent that such action does not materially prejudice or limit in any material respect Purchaser’s ability to collect the Funded Amount.

Transfer of Collections Payments From Servicer to Purchaser Account. Servicer will collect all amounts due in respect of the Purchased Receivable on behalf of Purchaser and covenants (i) to promptly (and in any event on the date of receipt thereof to the extent practicable) transfer by wire transfer all Collections Payments relating to the Purchased Receivable (which for the avoidance of doubt, shall not exceed the Allocation Percentage of the Collections) to the Purchaser Account on account of the Purchased Receivable, (ii) not to change the payment instructions while the Purchased Receivable remains outstanding, and (iii) to take any and all other actions, including actions reasonably requested by Purchaser, to ensure that all amounts owing under the Purchased Receivable, including amounts with respect to Dilution of the Purchased Receivable, will be paid exclusively to Seller and transferred to the Purchaser Account as provided herein. Except as set forth For the avoidance of doubt, in Section 5(e) hereof, nothing shall prevent Seller from taking any action with respect to the event that the dollar amount of the Collections is less than the dollar amount of the aggregate Funded Amount under the Receivable Balance to Purchase Agreements, the extent that such action does not materially prejudice or limit Collections shall be allocated pro rata between the amounts due in any material respect Purchaser’s ability to collect of the Funded AmountSeries D Receivable and the Receivable Balance.

Transfer of Collections Payments From Servicer to Purchaser Account. Servicer will collect all amounts due in respect of the Purchased Receivable on behalf of Purchaser and covenants (i) to promptly (and in any event on the date of receipt thereof to the extent practicable) transfer by wire transfer all Collections Payments relating to the Purchased Receivable (which for the avoidance of doubt, shall not exceed the Allocation Percentage of the Collections) to the Purchaser Account on account of the Purchased Receivable, (ii) not to change the payment instructions while the Purchased Receivable remains outstanding, and (iii) to take any and all other actions, including actions reasonably requested by Purchaser, to ensure that all amounts owing under the Purchased Receivable, including amounts with respect to Dilution of the Purchased Receivable, will be paid exclusively to Seller and transferred to the Purchaser Account as provided herein. For the avoidance of doubt, in the event that the dollar amount of the Collections is less than the dollar amount of the aggregate Funded Amount under the Receivable Purchase Agreements, the Collections shall be allocated pro rata between the amounts due in respect of the Series F Receivable and the Receivable Balance. Except as set forth in Section 5(e) hereof, nothing shall prevent Seller from taking any action with respect to the Receivable Balance to the extent that such action does not materially prejudice or limit in any material respect Purchaser’s ability to collect the Funded Amount.