Common use of Unrelated Amounts Clause in Contracts

Unrelated Amounts. The (a) amounts deposited by the Servicer into the Collection Account but later determined by the Servicer to be mistaken or returned deposits or postings, (b) amounts deposited by the Servicer into the Collection Account as collections but which were later determined by the Servicer to not constitute collections with respect to the Receivables and (c) amounts received by the Servicer with respect to a Receivable that the Servicer is prohibited from depositing into the Collection Account or otherwise remitting to the Issuing Entity by law or court order, the direction of a regulatory authority or regulatory guidance. Undertaking Letter: The letter in substantially the form set forth in Exhibit C of the Trust Agreement.

Appears in 13 contracts

Samples: Servicing Agreement (Ally Auto Receivables Trust 2024-2), Servicing Agreement (Ally Auto Receivables Trust 2024-2), Servicing Agreement (Ally Auto Receivables Trust 2024-1)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!