Examples of Asset Proceeds in a sentence
No funds from any other source (other than interest or earnings on the Asset Proceeds, funds transferred from the Working Capital Reserve Account, the proceeds of Excess Working Capital Advances and other funds expressly permitted to be deposited into the Collection Account pursuant to the Custodial and Paying Agency Agreement) may be commingled in the Collection Account.
The Servicer will not (i) place, or (ii) knowingly (including for this purpose any knowledge that the Servicer would have obtained if it had complied with the Servicing Standard) permit (voluntarily or involuntarily) to be placed, or to exist, any Lien on any of the Assets, the Collateral, the Asset Documents, or the Asset Proceeds, except for, in the case of Collateral or Acquired Property, such Permitted Liens as the Manager may permit from time to time.
The Servicer hereby waives any and all rights it may otherwise have (whether by contract or operation of Law or otherwise) to any setoff, offset, counterclaim or deduction (or to assert any claim for any setoff, offset counterclaim or deduction) against the Asset Proceeds (or the Company).
The Servicer acknowledges and agrees that it will have no recourse against the Company for any amounts the Servicer is required to pay pursuant to this Section 8.2, and in no event will expenses incurred by the Servicer or any Subservicer in connection with its obligations under this Section 8.2 constitute Servicing Expenses or otherwise be deducted from or reimbursed out of Asset Proceeds.
No Servicer Advances will bear interest chargeable in any way to the Company or deductible from any Asset Proceeds.