Common use of Additional Deposits and Payments; Reserve Account Clause in Contracts

Additional Deposits and Payments; Reserve Account. (a) On each Payment Date, the following deposits will be made to the Collection Account, in immediately available funds, (i) the Seller will deposit the aggregate Purchase Price with respect to Receivables repurchased by the Seller pursuant to Section 3.03 hereof or Section 3.04 of the Receivables Purchase Agreement, (ii) the Servicer will deposit (A) the aggregate Purchase Price with respect to Receivables purchased by the Servicer pursuant to Section 4.07 and (B) the Optional Purchase Price to be paid under Section 9.01 in connection with the Optional Purchase and (iii) the Indenture Trustee shall deposit, from amounts on deposit in the Reserve Account, pursuant to (A) Section 5.05(c)(i), the Reserve Fund Draw Amount and (B) Section 5.05(c)(ii) the Reserve Account Excess Amount. All such deposits shall be made no later than 11:00 a.m. (New York City time) on the related Payment Date.

Additional Deposits and Payments; Reserve Account. (a) On each Payment Date, the following deposits will be made to the Collection Account, in immediately available funds, (i) the Seller will deposit the aggregate Purchase Price with respect to Receivables repurchased by the Seller pursuant to Section 3.03 hereof or Section 3.04 of the Receivables Purchase Agreement, (ii) the Servicer will deposit (A) the aggregate Purchase Price with respect to Receivables purchased by the Servicer pursuant to Section 4.07 and (B) the Optional Purchase Price to be paid under Section 9.01 in connection with the Optional Purchase and (iii) the Indenture Trustee shall deposit, from amounts on deposit in the Reserve Account, pursuant to (A) Section 5.05(c)(i), the Reserve Fund Account Draw Amount and (B) Section 5.05(c)(ii) the Reserve Account Excess Amount. All such deposits shall be made no later than 11:00 a.m. (New York City time) on the related Payment Date.

Additional Deposits and Payments; Reserve Account. (a) On each Payment Date, the following deposits will be made to the Collection Account, in immediately available funds, (i) the Seller will deposit the aggregate Purchase Price with respect to Receivables repurchased by the Seller pursuant to Section 3.03 hereof or Section 3.04 3.03 of the Receivables Purchase Agreement, (ii) the Servicer will deposit (A) the aggregate Purchase Price with respect to Receivables purchased by the Servicer pursuant to Section 4.07 and (B) the Optional Purchase Price to be paid under Section 9.01 in connection with the Optional Purchase and (iii) the Indenture Trustee shall deposit, from amounts on deposit in the Reserve Account, pursuant to (A) Section 5.05(c)(i), the Reserve Fund Draw Amount and (B) Section 5.05(c)(ii) the Reserve Account Excess Amount. All such deposits shall be made no later than 11:00 a.m. (New York City time) on the related Payment Date.