Common use of Collections Following Amortization Clause in Contracts

Collections Following Amortization. On the Amortization Date and on each day thereafter, the Servicer shall set aside and hold in trust, for the holder of each Purchaser Interest, all Collections and Deemed Collections received on such day (provided, that if the Amortization Date has occurred pursuant to clause (iii) or (iv) of the definition thereof, the Servicer shall set aside and hold in trust only the Purchaser Interests of all Collections and Deemed Collections received on such day) and an additional amount of funds for the payment of any accrued and unpaid Obligations owed by Seller and not previously paid by Seller in accordance with Section 2.1. On the Amortization Date and on each day thereafter, the Servicer shall (a) remit to the Agent's account the amounts set aside pursuant to the preceding sentence, and (b) apply amounts, in each case, to reduce the Capital associated with each such Purchaser Interest and any other Aggregate Unpaids.

Collections Following Amortization. On the Amortization Date and on each day thereafter, the Servicer shall set aside and hold in trust, for the holder of each Purchaser Interest, (a) if no Amortization Event or Servicer Default has occurred, that portion of such Collections equal to the aggregate of the Purchaser Interests then outstanding, and (b) if an Amortization Event or Servicer Default has occurred, all Collections and Deemed Collections received on such day (provided, that if the Amortization Date has occurred pursuant to clause (iii) or (iv) of the definition thereof, the Servicer shall set aside and hold in trust only the Purchaser Interests of all Collections and Deemed Collections received on such day) and an additional amount of funds prior Collection for the payment of any accrued and unpaid Obligations owed by Seller and not previously paid by Seller in accordance with Section 2.1. On and after the Amortization Date and on each day thereafterDate, the Servicer shall shall, at any time upon the request from time to time by (aor pursuant to standing instructions from) the Agent (i) remit to the Agent's account the amounts set aside pursuant to the preceding sentence, and (bii) apply amounts, in each case, such amounts to reduce the Capital associated with each such Purchaser Interest and any other Aggregate Unpaids.