Common use of Treatment of Cash Management Account Deposits and Withdrawals Clause in Contracts

Treatment of Cash Management Account Deposits and Withdrawals. With respect to any Account, deposits made by a Dealer into the related Cash Management Account will be treated as Principal Collections and, in accordance with the Floorplan Financing Guidelines, the aggregate amount of Principal Receivables financed in connection with such Account will decrease by the amount of such deposit. Conversely, any withdrawals by such Dealer from its Cash Management Account will be shown on the Servicer's records as a supplemental advance to such Dealer and, in accordance with the Floorplan Financing Guidelines, the aggregate amount of Principal Receivables financed in connection with the related Account will increase by the amount of such supplemental advance.

Appears in 4 contracts

Samples: Receivables Purchase Agreement (Ford Credit Floorplan LLC), Transfer and Servicing Agreement (Ford Credit Floorplan LLC), Receivables Purchase Agreement (Ford Credit Floorplan LLC)

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