Common use of Deposit of Collections Clause in Contracts

Deposit of Collections. (i) If the Servicer’s short-term unsecured debt is not rated at least the Monthly Deposit Required Ratings or a Servicer Termination Event occurs, the Servicer will deposit in the Collection Account all Collections (excluding Recoveries) within two Business Days after application.

Appears in 31 contracts

Samples: Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2022-A), Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2022-A), Sale and Servicing Agreement (Ford Credit Auto Receivables Two LLC)

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Deposit of Collections. (i) If the Servicer’s 's short-term unsecured debt is not rated at least the Monthly Deposit Required Ratings or a Servicer Termination Event occurs, the Servicer will deposit in the Collection Account all Collections (excluding Recoveries) within two Business Days after application.

Appears in 12 contracts

Samples: Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2024-A), Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2023-C), Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2023-C)

Deposit of Collections. (i) If the Servicer’s short-term unsecured debt is not rated at least the Monthly Deposit Required Ratings or a Servicer Termination Event occurs, the Servicer will deposit in the Collection Account all Collections (excluding Recoveries) amounts received and applied as interest or principal on the Receivables within two Business Days after application.

Appears in 9 contracts

Samples: Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2016-B), Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2016-B), Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2016-A)

Deposit of Collections. (i) If the Servicer’s short-'s short term unsecured debt is not rated at least the Monthly Deposit Required Ratings or a Reference Pool Servicer Termination Event for the 2023-B Reference Pool occurs, the Servicer will deposit in the Exchange Note Collection Account all Collections Active Lease Proceeds, Terminating Lease Proceeds and Closed Lease Proceeds (excluding Recoveries) received and applied on the Leases within two Business Days after application.

Appears in 2 contracts

Samples: Servicing Agreement (Ford Credit Auto Lease Trust 2023-B), Servicing Agreement (Ford Credit Auto Lease Trust 2023-B)

Deposit of Collections. (i) If the Servicer’s short-short term unsecured debt is not rated at least the Monthly Deposit Required Ratings or a Reference Pool Servicer Termination Event for the 2021-B Reference Pool occurs, the Servicer will deposit in the Exchange Note Collection Account all Collections Active Lease Proceeds, Terminating Lease Proceeds and Closed Lease Proceeds (excluding Recoveries) received and applied on the Leases within two Business Days after application.

Appears in 2 contracts

Samples: Servicing Agreement (Ford Credit Auto Lease Trust 2021-B), Servicing Agreement (Ford Credit Auto Lease Trust 2021-B)

Deposit of Collections. (i) If the Servicer’s short-short term unsecured debt is not rated at least the Monthly Deposit Required Ratings or a Reference Pool Servicer Termination Event for the 2020-B Reference Pool occurs, the Servicer will deposit in the Exchange Note Collection Account all Collections Active Lease Proceeds, Terminating Lease Proceeds and Closed Lease Proceeds (excluding Recoveries) received and applied on the Leases within two Business Days after application.

Appears in 2 contracts

Samples: Servicing Agreement (Ford Credit Auto Lease Trust 2020-B), Servicing Agreement (Ford Credit Auto Lease Trust 2020-B)

Deposit of Collections. (i) If the Servicer’s short-short term unsecured debt is not rated at least the Monthly Deposit Required Ratings or a Reference Pool Servicer Termination Event for the 2018-A Reference Pool occurs, the Servicer will deposit in the Exchange Note Collection Account all Collections Active Lease Proceeds, Terminating Lease Proceeds and Closed Lease Proceeds (excluding Recoveries) received and applied on the Leases within two Business Days after application.

Appears in 2 contracts

Samples: Servicing Agreement (Ford Credit Auto Lease Trust 2018-A), Servicing Agreement (Ford Credit Auto Lease Trust 2018-A)

Deposit of Collections. (i) If the Servicer’s short-short term unsecured debt is not rated at least the Monthly Deposit Required Ratings or a Reference Pool Servicer Termination Event for the 2017-B Reference Pool occurs, the Servicer will deposit in the Exchange Note Collection Account all Collections Active Lease Proceeds, Terminating Lease Proceeds and Closed Lease Proceeds (excluding Recoveries) received and applied on the Leases within two Business Days after application.

Appears in 2 contracts

Samples: Servicing Agreement (Ford Credit Auto Lease Trust 2017-B), Servicing Agreement (Ford Credit Auto Lease Trust 2017-B)

Deposit of Collections. (i) If the Servicer’s short-short term unsecured debt is not rated at least the Monthly Deposit Required Ratings or a Reference Pool Servicer Termination Event for the 2020-A Reference Pool occurs, the Servicer will deposit in the Exchange Note Collection Account all Collections Active Lease Proceeds, Terminating Lease Proceeds and Closed Lease Proceeds (excluding Recoveries) received and applied on the Leases within two Business Days after application.

Appears in 2 contracts

Samples: Servicing Agreement (Ford Credit Auto Lease Trust 2020-A), Servicing Agreement (Ford Credit Auto Lease Trust 2020-A)

Deposit of Collections. (i) If the Servicer’s short-short term unsecured debt is not rated at least the Monthly Deposit Required Ratings or a Reference Pool Servicer Termination Event for the 2019-A Reference Pool occurs, the Servicer will deposit in the Exchange Note Collection Account all Collections Active Lease Proceeds, Terminating Lease Proceeds and Closed Lease Proceeds (excluding Recoveries) received and applied on the Leases within two Business Days after application.

Appears in 2 contracts

Samples: Servicing Agreement (Ford Credit Auto Lease Trust 2019-A), Servicing Agreement (Ford Credit Auto Lease Trust 2019-A)

Deposit of Collections. (i) If the Servicer’s short-'s short term unsecured debt is not rated at least the Monthly Deposit Required Ratings or a Reference Pool Servicer Termination Event for the 2022-A Reference Pool occurs, the Servicer will deposit in the Exchange Note Collection Account all Collections Active Lease Proceeds, Terminating Lease Proceeds and Closed Lease Proceeds (excluding Recoveries) received and applied on the Leases within two Business Days after application.

Appears in 2 contracts

Samples: Servicing Agreement (Ford Credit Auto Lease Trust 2022-A), Servicing Agreement (Ford Credit Auto Lease Trust 2022-A)

Deposit of Collections. (i) If the Servicer’s short-short term unsecured debt is not rated at least the Monthly Deposit Required Ratings or a Reference Pool Servicer Termination Event for the 2021-A Reference Pool occurs, the Servicer will deposit in the Exchange Note Collection Account all Collections Active Lease Proceeds, Terminating Lease Proceeds and Closed Lease Proceeds (excluding Recoveries) received and applied on the Leases within two Business Days after application.

Appears in 2 contracts

Samples: Servicing Agreement (Ford Credit Auto Lease Trust 2021-A), Servicing Agreement (Ford Credit Auto Lease Trust 2021-A)

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Deposit of Collections. (i) If the Servicer’s short-short term unsecured debt is not rated at least the Monthly Deposit Required Ratings or a Reference Pool Servicer Termination Event for the 2017-A Reference Pool occurs, the Servicer will deposit in the Exchange Note Collection Account all Collections Active Lease Proceeds, Terminating Lease Proceeds and Closed Lease Proceeds (excluding Recoveries) received and applied on the Leases within two Business Days after application.

Appears in 2 contracts

Samples: Servicing Agreement (Ford Credit Auto Lease Trust 2017-A), Servicing Agreement (Ford Credit Auto Lease Two LLC)

Deposit of Collections. (i) If the Servicer’s short-'s short term unsecured debt is not rated at least the Monthly Deposit Required Ratings or a Reference Pool Servicer Termination Event for the 2023-A Reference Pool occurs, the Servicer will deposit in the Exchange Note Collection Account all Collections Active Lease Proceeds, Terminating Lease Proceeds and Closed Lease Proceeds (excluding Recoveries) received and applied on the Leases within two Business Days after application.

Appears in 2 contracts

Samples: Servicing Agreement (Ford Credit Auto Lease Trust 2023-A), Servicing Agreement (Ford Credit Auto Lease Trust 2023-A)

Deposit of Collections. (i) If the Servicer’s short-short term unsecured debt is not rated at least the Monthly Deposit Required Ratings or a Reference Pool Servicer Termination Event for the 2019-B Reference Pool occurs, the Servicer will deposit in the Exchange Note Collection Account all Collections Active Lease Proceeds, Terminating Lease Proceeds and Closed Lease Proceeds (excluding Recoveries) received and applied on the Leases within two Business Days after application.

Appears in 2 contracts

Samples: Servicing Agreement (Ford Credit Auto Lease Trust 2019-B), Servicing Agreement (Ford Credit Auto Lease Trust 2019-B)

Deposit of Collections. (i) If the Servicer’s short-short term unsecured debt is not rated at least the Monthly Deposit Required Ratings or a Reference Pool Servicer Termination Event for the 2018-B Reference Pool occurs, the Servicer will deposit in the Exchange Note Collection Account all Collections Active Lease Proceeds, Terminating Lease Proceeds and Closed Lease Proceeds (excluding Recoveries) received and applied on the Leases within two Business Days after application.

Appears in 2 contracts

Samples: Servicing Agreement (Ford Credit Auto Lease Trust 2018-B), Servicing Agreement (Ford Credit Auto Lease Trust 2018-B)

Deposit of Collections. (i) If the Servicer’s short-'s short term unsecured debt is not rated at least the Monthly Deposit Required Ratings or a Reference Pool Servicer Termination Event for the 2024-A Reference Pool occurs, the Servicer will deposit in the Exchange Note Collection Account all Collections Active Lease Proceeds, Terminating Lease Proceeds and Closed Lease Proceeds (excluding Recoveries) received and applied on the Leases within two Business Days after application.

Appears in 2 contracts

Samples: Servicing Agreement (Ford Credit Auto Lease Trust 2024-A), Servicing Agreement (Ford Credit Auto Lease Trust 2024-A)

Deposit of Collections. (i) If the Servicer’s short-'s short term unsecured debt is not rated at least the Monthly Deposit Required Ratings or a Reference Pool Servicer Termination Event for the 20__-__ Reference Pool occurs, the Servicer will deposit in the Exchange Note Collection Account all Collections Active Lease Proceeds, Terminating Lease Proceeds and Closed Lease Proceeds (excluding Recoveries) received and applied on the Leases within two Business Days after application.

Appears in 1 contract

Samples: Servicing Agreement (CAB East LLC)

Deposit of Collections. (i) If the Servicer’s short-short term unsecured debt is not rated at least the Monthly Deposit Required Ratings or a Reference Pool Servicer Termination Event for the 20 - Reference Pool occurs, the Servicer will deposit in the Exchange Note Collection Account all Collections Active Lease Proceeds, Terminating Lease Proceeds and Closed Lease Proceeds (excluding Recoveries) received and applied on the Leases within two Business Days after application.

Appears in 1 contract

Samples: Servicing Agreement (CAB West LLC)

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