Examples of Receivables Collection Account in a sentence
On each Distribution Date and on the Redemption Date (if applicable), the Indenture Trustee shall distribute amounts on deposit in the Loan Collection Account and Receivables Collection Account to the Noteholders in accordance with Section 8.2, less amounts properly withheld under the Code from a payment to any Noteholder of interest and/or principal.
The Servicer’s Certificate shall specify the amounts transferred into the Receivables Collection Account with respect to the immediately preceding Monthly Period.
All proceeds with respect to the Ambac Policy shall be deposited in the Loan Collection Account or Receivables Collection Account, as the case may be, for distribution to Noteholders as set forth in Section 6.17 of the Indenture.
Upon receipt of any Insured Payment from the Insurer, the Indenture Trustee shall deposit such amount into the Loan Collection Account or Receivables Collection Account, as the case may be, for distribution to the Noteholders.
On or before each Determination Date, with respect to the preceding Monthly Period and the related Distribution Date, the Servicer shall calculate each of the amounts required to be distributed or drawn from the Reserve Account, the Equipment Loan Collection Account and/or the Receivables Collection Account (including the Carrying Cost Account), as applicable, on the next succeeding Distribution Date.
Funds deposited in the Loan Collection Account, the Receivables Collection Account and Reserve Account shall be invested in Eligible Investments that mature prior to the next Distribution Date except, and then only to the extent, as shall be otherwise permitted by the Rating Agencies and the Control Party.
The Indenture Trustee shall keep a complete and accurate record of all Ambac Policy proceeds deposited into the Loan Collection Account or Receivables Collection Account, as the case may be, and the allocation of such funds to payment of interest on and principal paid in respect of any Note.
Such Receivables Collection Account shall have a sub-account (the “Carrying Cost Account”) into which the Daily Carrying Costs will be credited.
Funds allocated to the Purchasers’ Interest and the Transferor’s Interest shall be deposited into the Receivables Collection Account and applied pursuant to Section 6.04(d).
On each Business Day, the excess of (x) the amount then on deposit in the Receivables Collection Account over (y) the Daily Carrying Costs will be distributed by the Indenture Trustee in accordance with Section 8.2(d) and (e) of the Indenture.