Common use of Collections Following Amortization Clause in Contracts

Collections Following Amortization. On the Amortization Date and on each day thereafter, Servicer shall set aside and hold in trust, for the Purchasers and L/C Issuers, all Collections and/or Deemed Collections received on such day and an additional amount 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, Servicer shall, at any time upon the request from time to time by (or pursuant to standing instructions from) the Administrative Agent (i) remit to the Administrative Agent’s or each Managing Agent’s account the amounts set aside pursuant to the preceding sentence, and (ii) apply such amounts to (A) reduce the Aggregate Capital, (B) reduce any outstanding Reimbursement Obligations, (C) Cash-Collateralize all outstanding Letters of Credit and (D) reduce any other Aggregate Unpaids.

Collections Following Amortization. On the Amortization Date and on each day thereafter, Servicer shall set aside and hold in trust, for the Purchasers and L/C Issuers, all Collections and/or Deemed Collections received on such day and an additional amount 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, Servicer shall, at any time upon the request from time to time by (or pursuant to standing instructions from) the Administrative Agent (i) remit to the Administrative Agent’s or each Managing Agent’s account the amounts set aside pursuant to the preceding sentence, and (ii) apply such amounts to (A) reduce the Aggregate Capital, (B) reduce any outstanding Reimbursement Obligations, (C) Cash-Collateralize Cash‑Collateralize all outstanding Letters of Credit and (D) reduce any other Aggregate Unpaids.

Collections Following Amortization. On the Amortization Date and on each day thereafter, Servicer shall set aside and hold in trust, for the Purchasers and L/C Issuers, all Collections and/or Deemed Collections received on such day and an additional amount 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, Servicer shall, at any time upon the request from time to time by (or pursuant to standing instructions from) the Administrative Agent (i) remit to the Administrative Agent’s or each Managing Agent’s account the amounts set aside pursuant to the preceding sentence, and (ii) apply such amounts to (A) reduce the Aggregate Capital, (B) reduce any outstanding Reimbursement Obligations, (C) Cash-Collateralize all outstanding Letters of Credit and (D) reduce any other Aggregate Unpaids.

Collections Following Amortization. On the Amortization Date and on each day thereafterthereafter until the Aggregate Unpaids shall have been indefeasibly reduced to zero, the Servicer shall set aside and hold in trust, for the Purchasers and L/C Issuersholder of each Purchaser Interest, all Collections and/or Deemed Collections received on such day and an additional amount 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, the Servicer shall, at any time upon the request from time to time by (or pursuant to standing instructions from) the Administrative Agent (i) remit to the Administrative Agent’s or each Managing Agent’s 's account the amounts set aside pursuant to the preceding sentence, and (ii) apply such amounts to (A) reduce the Aggregate CapitalCapital associated with each such Purchaser Interest, (B) reduce any outstanding Reimbursement Obligations, (C) Cash-Collateralize all outstanding Letters of Credit and (D) reduce any other Aggregate Unpaids.