Common use of Application of Collections on Settlement Dates Clause in Contracts

Application of Collections on Settlement Dates. The Servicer will, by 3:00 P.M. (New York time) on each Settlement Date, from Collections received during the preceding Settlement Period, pay to the Agent and the Agent shall distribute such Collections, together with any Hedging Proceeds received by the Agent with respect to such Settlement Period, to the Investors (a) first, an amount equal to the Carrying Costs for the Settlement Period (as such amount shall be increased or decreased by the Carrying Costs True-up Amount, if any, for the immediately preceding Settlement Period as determined pursuant to Section 3.1(a)(ii)) and (b) second, all remaining Collections as a reduction to Investment.

Application of Collections on Settlement Dates. The Servicer will, by 3:00 P.M. (New York time) on each Settlement Date, from Collections received during the preceding Settlement Period, pay to the Administrative Agent and the Administrative Agent shall distribute such Collections, together with any Hedging Proceeds received by the Administrative Agent with respect to such Settlement Period, to the Investors Purchaser (ai) first, an amount equal to the Carrying Costs for the Settlement Period (as such amount shall be increased or decreased by the Carrying Costs True-up Amount, if any, for the immediately preceding Settlement Period as determined pursuant to Section 3.1(a)(ii3.1.1(b)) and (bii) second, all remaining Collections as a reduction to Investment.

Application of Collections on Settlement Dates. The Servicer will, by 3:00 P.M. (New York time) on each Settlement Date, from Collections received during the preceding Settlement Period, pay to the Funding Agent and the Funding Agent shall distribute such Collections, together with any Hedging Proceeds received by the Funding Agent with respect to such Settlement Period, to the Investors Purchaser (ai) first, an amount equal to the Carrying Costs for the Settlement Period (as such amount shall be increased or decreased by the Carrying Costs True-up Up Amount, if any, for the immediately preceding Settlement Period as determined pursuant to Section 3.1(a)(ii)3.3) and (bii) second, all remaining Collections as a reduction to the Investment.

Application of Collections on Settlement Dates. The Servicer will, by 3:00 P.M. (New York time) on each Settlement Date, from Collections received during the preceding Settlement Period, pay to the Administrative Agent and the Administrative Agent shall distribute such Collections, together with any Hedging Proceeds received by the Administrative Agent with respect to such Settlement Period, to the Investors Purchaser (ai) first, an amount equal to the Carrying Costs for the Settlement Period (as such amount shall be increased or decreased by the Carrying Costs True-up Up Amount, if any, for the immediately preceding Settlement Period as determined pursuant to Section 3.1(a)(ii)3.3) and (bii) second, all remaining Collections as a reduction to the Investment.