Payments and Collections. All funds received by the Agent in respect of any payments made by any Borrower on the Term Notes shall be distributed promptly on the date of receipt thereof by the Agent among the Banks, in like currency and funds as received, ratably according to each Bank’s Term Loan Percentage. All funds received by the Agent in respect of any payments made by any Borrower on the Revolving Notes, Revolving Commitment Fees or Letter of Credit Fees shall be distributed promptly on the date of receipt thereof by the Agent among the Banks, in like currency and funds as received, ratably according to each Bank’s Revolving Percentage. After any Event of Default has occurred, all funds received by the Agent, whether as payments by the Borrowers or as realization on collateral or on any guaranties, shall (except as may otherwise be required by law) be distributed by the Agent in the following order: (a) first to the Agent or any Bank that has incurred unreimbursed costs of collection with respect to any Obligations hereunder, ratably to the Agent and each Bank in the proportion that the costs incurred by the Agent or such Bank bear to the total of all such costs incurred by the Agent and all Banks; (b) next to the Agent for the pro rata account of (i) the Banks (in accordance with their respective Total Percentages) for application on the Notes and (ii) the Rate Protection Providers (in accordance with their outstanding and owed Rate Protection Obligations) for application on the Rate Protection Agreements; (c) next to the Agent for the account of the Banks (in accordance with their respective Revolving Percentages) for any unpaid Revolving Commitment Fees or Letter of Credit Fees owing by the Borrowers hereunder; and (d) last to the Agent to be held in the Holding Account to cover any outstanding Letters of Credit.
Payments and Collections. All funds received by the Agent in respect of any payments made by the Borrower on the Revolving Notes or Revolving Commitment Fees shall be distributed forthwith by the Agent among the Banks, in like currency and funds as received, ratably according to each Bank's Revolving Percentage. After any Event of Default has occurred, all funds received by the Agent, whether as payments by the Borrower or as realization on collateral or on any guaranties, shall (except as may otherwise be required by law) be distributed by the Agent in the following order:
(a) first to the Agent or any Bank who has incurred unreimbursed costs of collection with respect to any Obligations hereunder, ratably to the Agent and each Bank in the proportion that the costs incurred by the Agent or such Bank bear to the total of all such costs incurred by the Agent and all Banks; (b) next to the Agent for the account of the Banks (in accordance with their respective Revolving Percentages) for application on the Revolving Notes; and (c) last to the Agent for the account of the Banks (in accordance with their respective Revolving Percentages) for any unpaid Revolving Commitment Fees owing by the Borrower hereunder.
Payments and Collections. 3 Section 2.1 Payments............................................ 3 Section 2.2 Collections Prior to Amortization................... 3 Section 2.3 Collections Following Amortization.................. 4 Section 2.4 Application of Collections.......................... 4 Section 2.5 Payment Recission................................... 5 Section 2.6 Maximum Purchaser Interests......................... 5 Section 2.7 Clean Up Call....................................... 5
Payments and Collections. Section 2.1. Collections during the Revolving Period. During the Revolving Period, any Collections and/or Deemed Collections received by the Servicer (or from and after the occurrence of the Dominion Date, by the Administrative Agent) shall be held in trust for the payment of any accrued and unpaid Aggregate Unpaids or for a Rollover Advance as provided in this Section (provided that Aggregate Principal shall not be payable during the Revolving Period except to the extent provided in Section 1.3 and Section 1.5 and Collections and/or Deemed Collections shall not be required to be segregated prior to the Dominion Date but instead shall be permitted to be used by the Servicer and its Affiliates in accordance with Section 6.2(c)). On each day during the Revolving Period that is not a Settlement Date, subject to Section 1.4, the last sentence of this Section and Section 4.2, Collections that are not required to be segregated pursuant to Section 6.2(c) shall first be applied to making an Advance such that after giving effect thereto, the outstanding Aggregate Principal is equal to the Aggregate Principal outstanding immediately prior to receipt of such Collections (each such Advance, a “Rollover Advance”). Each Rollover Advance will be presumed to consist of Loans made ratably amongst all Lenders in accordance with their respective Principal outstanding. On each Settlement Date, the Servicer shall deliver to the Administrative Agent that portion of all Collections received (or deemed received) during the related Calculation Period equal to the amounts due and owing pursuant to clauses (i)-(vii) of Section 2.3 for application in accordance therewith (the “Required Amounts”). If on any Settlement Date during the Revolving Period there are insufficient Collections to pay all Required Amounts that are then due and owing under Section 2.3, the next available Collections shall be applied to such payments in accordance with Section 2.3, and no Rollover Advance shall be permitted hereunder until such amounts payable have been paid in full.
Payments and Collections. Section 2.1 Payments 7 Section 2.2 Collections Prior to Amortization 7 Section 2.3 Collections Following Amortization 8 Section 2.4 Application of Collections 8 Section 2.5 Payment Rescission 9 Section 2.6 Maximum Purchaser Interests 9 Section 2.7 Clean Up Call 9
Payments and Collections. An Edge or agreement corporation may receive checks, bills, drafts, acceptances, notes, bonds, coupons, and other in- struments for collection abroad, and collect such instruments in the United States for a customer abroad; and may transmit and receive wire transfers of funds and securities for depositors.
Payments and Collections. Section 2.1 Payments........................................................................................ 3 Section 2.2 Collections Prior to Amortization............................................................... 3 Section 2.3
Payments and Collections. Section 2.1 Payments 3 Section 2.2 Collections Prior to Amortization 3 Section 2.3 Collections Following Amortization 4 Section 2.4 Application of Collections 4 Section 2.5 Payment Recission 5 Section 2.6 Maximum Purchaser Interests 5 Section 2.7 Clean Up Call 5 ARTICLE III CONDUIT FUNDING Section 3.1 CP Costs 5 Section 3.2 CP Costs Payments 5 Section 3.3 Calculation of CP Costs 6
Payments and Collections. Section 2.1 Payments of Recourse Obligations 7 Section 2.2 Collections Prior to the Final Facility Termination Date; Repayment of Certain Demand Advances 8 Section 2.3 Repayment of Demand Advances on the Final Facility Termination Date; Collections 9 Section 2.4 Payment Rescission 10 Section 2.5 Clean Up Call 10
Payments and Collections. All payments made by check hereunder shall be made, without setoff or counterclaim, to TCFC prior to 12:00 Noon, Chicago time, on the date due at its office in immediately available funds at Chicago, Illinois or at such other place as may be designated by TCFC to Dealer in writing or by EDI. Any payments received after such time shall be deemed received on the next Business Day. Whenever any payment shall be stated to be due on a date other than a Business Day, such payment may be made on the next succeeding Business Day, and such extension of time shall be included in the computation of interest, fees and charges. Notwithstanding anything to the contrary herein, all items of payment for purposes of (i) determining the occurrence of a Default shall be deemed received upon actual receipt by TCFC at its bank, The Northern Trust Bank , Chicago or such other bank as TCFC may use as its depository bank unless subsequently dishonored for any reason; (ii) calculating the Borrowing Base shall be applied by TCFC against the principal of and/or interest on any Loans on the first Business Day after receipt by TCFC at its bank the First National Bank of Chicago or such other bank as TCFC may use as its depository bank; and (iii) calculating interest shall be deemed to have been applied by TCFC against the principal of and/or interest on any Loan on the first Business Day after actual receipt by TCFC, whether by check, wire transfer, ACH Debit or any other form of payment whatsoever. Dealer may be eligible for an Early Payment Rebate pursuant to the provisions of Schedule 2.12. TCFC may at any time in its sole discretion change the time for payment of future Loans or change product lines of Inventory to be financed and the terms of such financing by giving Dealer a notice specifying such change.
