IRC Collections definition

IRC Collections or “IRC Payments” means the payments made by Customers to the Servicer based on the Investment Recovery Charges.
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Examples of IRC Collections in a sentence

  • The Servicer’s costs and expenses incurred in connection with any such proceeding shall be payable from IRC Collections as an Operating Expense (and shall not be deemed to constitute a portion of the Servicing Fee) in accordance with the Indenture.

  • The Servicer shall remit to the Indenture Trustee any earnings on such unremitted IRC Collections as required by Section 6.11(e) of the Agreement.

  • The Servicer shall request LPSC approval of an amendment to the true-up mechanism described herein – a “Non-Standard True-Up” (under such procedures as shall be proposed by the Servicer and approved by the LPSC at the time) that it deems necessary or appropriate to address any material deviations between IRC Collections and the PPR.

  • The costs of any action described in this Section 5.02(d) shall be payable from IRC Collections as an Operating Expense (and shall not be deemed to constitute a portion of the Servicing Fee) in accordance with the Indenture.