Common use of Additional Deposits and Payments Clause in Contracts

Additional Deposits and Payments. (a) On each Payment Date, the Servicer and the Seller will deposit into the Collection Account the aggregate Repurchase Price with respect to Receivables purchased by the Servicer pursuant to Section 4.07 or the Seller pursuant to Section 3.03 (or pursuant to Section 3.3 of the Receivables Purchase Agreement), respectively, and the Servicer will deposit into the Collection Account all amounts, if any, to be paid under Section 9.01 in connection with the Optional Purchase. All such deposits with respect to a Payment Date will be made, in immediately available funds by 11:00 a.m. (New York City time) on such Payment Date.

Appears in 8 contracts

Samples: Sale and Servicing Agreement (California Republic Funding LLC), Sale and Servicing Agreement (California Republic Funding LLC), Sale and Servicing Agreement (California Republic Funding LLC)

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Additional Deposits and Payments. (a) On each Payment Date, the Servicer and the Seller will deposit into the Collection Account the aggregate Repurchase Price with respect to Repurchased Receivables purchased by the Servicer pursuant to Section 4.07 3.6 or the Seller Bank, as seller, pursuant to Section 3.03 (or pursuant to Section 3.3 3.4 of the Receivables Purchase Agreement), respectively, on such Payment Date and the Servicer will deposit (or will cause the applicable purchaser to deposit) into the Collection Account all amounts, if any, to be paid under Section 9.01 8.1 in connection with the Optional Purchase. All such deposits with respect to a Payment Date will be made, in immediately available funds by 11:00 a.m. (3:00 p.m., New York City time) , on the Business Day prior to such Payment DateDate related to such Collection Period.

Appears in 4 contracts

Samples: Sale and Servicing Agreement (Usaa Acceptance LLC), Sale and Servicing Agreement (Usaa Acceptance LLC), Sale and Servicing Agreement (USAA Auto Owner Trust 2016-1)

Additional Deposits and Payments. (a) On each Payment Datethe date of a repurchase of a Contract by the Seller pursuant to Section 2.3, or the purchase of a Contract by the Servicer pursuant to Section 3.6, as applicable, the Servicer and or the Seller Seller, as applicable, will deposit into the Collection Account the aggregate Repurchase Price with respect to Receivables Repurchased Contracts purchased by the Servicer pursuant to Section 4.07 or the Seller pursuant to Section 3.03 (or pursuant to Section 3.3 of the Receivables Purchase Agreement), respectively, on such date and the Servicer will deposit into the Collection Account all amounts, if any, amounts to be paid under Section 9.01 in connection with the Optional Purchase8.1. All such deposits with respect to any such date which is a Payment Date will be made, in immediately available funds by 11:00 a.m. (noon, New York City time) , on such Payment DateDate related to such Collection Period.

Appears in 3 contracts

Samples: Sale and Servicing Agreement (Santander Drive Auto Receivables LLC), Sale and Servicing Agreement (Drive Auto Receivables LLC), Sale and Servicing Agreement (Drive Auto Receivables LLC)

Additional Deposits and Payments. (a) On each Payment Datethe date of a repurchase of a Contract by the Seller pursuant to Section 2.1 or Section 2.3, or the purchase of a Contract by the Servicer pursuant to Section 3.6, as applicable, the Servicer and or the Seller Seller, as applicable, will deposit into the Collection Account the aggregate Repurchase Price with respect to Receivables Repurchased Contracts purchased by the Servicer pursuant to Section 4.07 or the Seller pursuant to Section 3.03 (or pursuant to Section 3.3 of the Receivables Purchase Agreement), respectively, on such date and the Servicer will deposit into the Collection Account all amounts, if any, amounts to be paid under Section 9.01 in connection with the Optional Purchase8.1. All such deposits with respect to any such date which is a Payment Date will be made, in immediately available funds by 11:00 a.m. (noon, New York City time) , on such Payment DateDate related to such Collection Period.

Appears in 3 contracts

Samples: Sale and Servicing Agreement (Santander Drive Auto Receivables Trust 2007-2), Sale and Servicing Agreement (Santander Drive Auto Receivables Trust 2007-3), Sale and Servicing Agreement (Santander Drive Auto Receivables Trust 2007-1)

Additional Deposits and Payments. (a) On each Payment Date, the Servicer and the Seller will deposit into the Collection Account the aggregate Repurchase Price with respect to Receivables purchased by the Servicer pursuant to Section 4.07 or the Seller pursuant to Section 3.03 (or pursuant to Section 3.3 3.03 of the Receivables Purchase Agreement), respectively, and the Servicer will deposit into the Collection Account all amounts, if any, to be paid under Section 9.01 in connection with the Optional Purchase. All such deposits with respect to a Payment Date will be made, in immediately available funds by 11:00 a.m. (New York City time) on such Payment Date.

Appears in 3 contracts

Samples: Sale and Servicing Agreement, Sale and Servicing Agreement (California Republic Auto Receivables Trust 2015-2), Sale and Servicing Agreement (California Republic Auto Receivables Trust 2015-1)

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Additional Deposits and Payments. (a) On each Payment Date, the Servicer and the Seller will deposit into the Collection Account the aggregate Repurchase Price with respect to Receivables Loans purchased by the Servicer pursuant to Section 4.07 or the Seller pursuant to Section 3.03 (or pursuant to Section 3.3 of the Receivables Purchase Agreement)3.03, respectively, on such Payment Date and the Servicer will deposit into the Collection Account all amounts, if any, to be paid under Section 9.01 in connection with the Optional Purchaseoptional purchase. All such deposits with respect to a Payment Date will be made, in immediately available funds by 11:00 a.m. (a.m., New York City time) , on such Payment DateDate related to such Collection Period.

Appears in 3 contracts

Samples: Sale and Servicing Agreement (Huntington Auto Trust 2012-2), Sale and Servicing Agreement (Huntington Auto Trust 2012-1), Sale and Servicing Agreement (Huntington Funding, LLC)

Additional Deposits and Payments. (a) On each Payment Date, the Servicer and the Seller will deposit into the Collection Account the aggregate Repurchase Price with respect to Repurchased Receivables purchased by the Servicer pursuant to Section 4.07 3.6 or the Seller pursuant to Section 3.03 (or pursuant to Section 3.3 of the Receivables Purchase Agreement)2.3, respectively, on such Payment Date and the Servicer will deposit (or will cause the applicable purchaser to deposit) into the Collection Account all amounts, if any, to be paid under Section 9.01 8.1 in connection with the Optional Purchase. All such deposits with respect to a Payment Date will be made, in immediately available funds by 11:00 a.m. (10:00 a.m., New York City time) , on such Payment DateDate related to such Collection Period.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (USAA Auto Owner Trust 2010-1), Sale and Servicing Agreement (USAA Auto Owner Trust 2010-1)

Additional Deposits and Payments. (a) On each Payment Date, the Servicer and the Seller will deposit into the Collection Account the aggregate Repurchase Price with respect to Repurchased Receivables purchased by the Servicer pursuant to Section 4.07 3.6 or the Seller pursuant to Section 3.03 (or pursuant to Section 3.3 of the Receivables Purchase Agreement)2.3, respectively, on such Payment Date and the Servicer will deposit into the Collection Account all amounts, if any, to be paid under Section 9.01 8.1 in connection with the Optional Purchase. All such deposits with respect to a Payment Date will be made, in immediately available funds by 11:00 a.m. (a.m., New York City time) , on such Payment DateDate related to such Collection Period.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Fifth Third Holdings Funding, LLC)

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