SRC Collections definition

SRC Collections means amounts constituting good funds collected by Servicer from any Person in respect of Storm Recovery Charges and Storm Recovery Property.
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SRC Collections means System Restoration Charges received by the Servicer to be remitted to the Collection Account.
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SRC Collections or “Storm Recovery Charge Collections” means Storm Recovery Charges actually received by the Servicer to be remitted to the Collection Account.
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Examples of SRC Collections in a sentence

  • The Indenture Trustee, acting at the written direction of the Majority Holders, may waive in writing in whole or in part any default by the Servicer in the performance of its obligations hereunder and its consequences, except a default in making any required remittances to the Indenture Trustee of SRC Collections from Storm Recovery Property in accordance with Section 6.12 of this Agreement.

  • Such product shall constitute the amount of estimated SRC Collections for such Servicer Business Day.

  • Estimated SRC Collections Received Total Collection Period: Customer Class d.

  • Prior to each Daily Remittance, the Servicer may invest SRC Collections received at its own risk and (except as required by applicable LPSC Regulations) for its own benefit.

  • The Servicer will perform periodic reconciliations of estimated remittances (including the estimated write-off amount) with actual SRC Collections in accordance with Section 6(c)(e)(ii) below.

  • The Servicer and the Issuer further acknowledge and agree that the amount of the variances between actual SRC Collections and estimated SRC Collections are expected to be small and are not expected to be biased in favor of over-remittances or under-remittances.

  • All reasonable costs and expenses (including reasonable attorney’s fees and expenses) incurred by the predecessor Servicer in connection with this Section 7.05 shall be paid by the Issuer or the Successor Servicer from SRC Collections available under the Indenture, following presentation of reasonable documentation of such costs and expenses.


More Definitions of SRC Collections

SRC Collections or “SRC Payments” means the payments made by Customers to the Servicer based on the Storm Recovery Charges.
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Related to SRC Collections

  • Excess Collections shall have the meaning specified in Section 2.8(a)(xv) of the Indenture.

  • Interest Collections means, (i) with respect to any Loan Asset, all payments and collections attributable to interest on such Loan Asset, including, without limitation, all scheduled payments of interest and payments of interest relating to principal prepayments, all guaranty payments attributable to interest and proceeds of any liquidations, sales, dispositions or securitizations attributable to interest on such Loan Asset and (ii) amendment fees, late fees, waiver fees or other amounts received in respect of Loan Assets.

  • Principal Collections means Collections of Principal Receivables.

  • Collections means all cash, checks, notes, instruments, and other items of payment (including insurance proceeds, proceeds of cash sales, rental proceeds, and tax refunds).