Common use of Turnover of Collections Clause in Contracts

Turnover of Collections. If Servicer, Transferor or any of their respective agents or representatives shall at any time receive any cash, checks or other payments constituting Collections, such recipient shall segregate such payments and hold such payments in trust for Trustee and shall, promptly upon receipt (and in any event within one Business Day following receipt), remit all such cash, checks and other payments, duly endorsed or with duly executed instruments of transfer, if applicable, to a Bank Account or the Master Collection Account.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (International Comfort Products Corp), Pooling and Servicing Agreement (International Comfort Products Corp)

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Turnover of Collections. If Servicer, Transferor the Servicer or any of their respective its ------------------------- agents or representatives shall at any time receive receives any cash, checks or other payments instruments constituting Collections, such recipient shall will segregate such payments and hold such payments in trust for Trustee for, and shallin a manner acceptable to, the Issuer and will, promptly upon receipt (and in any event within one (1) Business Day following receipt), ) remit all such cash, checks and other paymentsinstruments, duly endorsed or with duly executed instruments of transfer, if applicable, to a Bank Lockbox Account or the Master Collection Account.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Levi Strauss & Co)

Turnover of Collections. If Servicer, Transferor or any of their respective agents or representatives shall at any time receive any cash, checks or other payments instruments constituting Collections, such recipient shall segregate such payments and hold such payments in trust for Trustee and shall, promptly upon receipt (and in any event within one Business Day following receipt), remit all such cash, checks and other paymentsinstruments, duly endorsed or with duly executed instruments of transfer, if applicable, to a Bank Account or the Master Collection Account.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Ameriserve Food Distribution Inc /De/)

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Turnover of Collections. If Servicer, Transferor or any of their respective agents or representatives shall at any time receive any cash, checks or other payments instruments constituting Collections, such recipient shall segregate such payments and hold such payments in trust for Trustee and shall, promptly upon receipt (and in any event within one two Business Day Days following receipt), remit all such cash, checks and other paymentsinstruments, duly endorsed or with duly executed instruments of transfer, if applicable, to a Bank Account or the Master Collection Account.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Big Flower Press Holdings Inc)

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