Monthly Collections Part 1 definition

Monthly Collections Part 1 means, in respect of a Monthly Period, the Collections for the period from (and including) the first calendar day of such Monthly Period until (and including) the fifteenth calendar day of such Monthly Period, as determined by the Servicer on the fifth Business Day following the fifteenth calendar day of such Monthly Period.
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Monthly Collections Part 1 means the Collections for the period from (and including) the first (1st) calendar day of a Monthly Period until (and including) the fifteenth (15th) calendar day of such Monthly Period, as determined by the Servicer on the first Business Day following the fifteenth (15th) calendar day of such Monthly Period.
Sample 1

Related to Monthly Collections Part 1

  • Collection Period means, with respect to any Payment Date, the period commencing on the first day of the calendar month immediately preceding the month in which such Payment Date occurs (and, in the case of the first Collection Period, the period from (but excluding) the Cutoff Date) and ending on the last day of the calendar month immediately preceding the month in which such Payment Date occurs.