Collection of Moneys. (a) On or before the Issuance Date, the Servicer shall designate a lockbox for the receipt directly from Lessees of all payments under the Leases and for the receipt from IOS Capital or the Lessees of security deposits in respect of any of the Leases. Amounts so received shall be deposited in the Collection Account in accordance with the provisions of Section 3.03(a) or, in the case of security deposits, the Security Deposit Account in accordance with Section 3.08(a).
Appears in 5 contracts
Samples: Insurance Agreement (Ikon Receivables LLC), Assignment and Servicing Agreement (Ikon Receivables LLC), Assignment and Servicing Agreement (Ikon Receivables LLC)
Collection of Moneys. (a) On or before the Issuance Date, the Servicer shall designate a lockbox for the receipt directly from Lessees of all payments under the Leases and for the receipt from IOS Capital or the Lessees of security deposits in respect of any of the Leases. Amounts so received shall be deposited in the Collection Account in accordance with the provisions of Section 3.03(a) or, in the case of security deposits, in the Security Deposit Account in accordance with Section 3.08(a).
Appears in 2 contracts
Samples: Indenture (Ikon Receivables Funding LLC), Assignment and Servicing Agreement (Ikon Receivables LLC)
