Common use of Funds Held in Trust Clause in Contracts

Funds Held in Trust. Prior to being deposited in the Collection Account, funds received by Seller or Servicer in respect of any Purchased Receivables shall be deemed to be the exclusive property of the Purchaser who purchased such Purchased Receivables, and Seller and Servicer each shall be deemed to be holding such funds in trust for the exclusive use and benefit of such Purchaser. Neither Servicer nor any Seller shall, directly or indirectly, utilize such funds for its own purposes, and shall not have any right to pledge such funds as collateral for any obligations of Servicer or Seller or any other Person. (v)

Funds Held in Trust. Prior to being deposited in the Collection Account, funds received by Seller or Servicer in respect of any Purchased Receivables shall be deemed to be the exclusive property of the Purchaser who purchased such Purchased ReceivablesPurchaser, and Seller and Servicer each shall be deemed to be holding such funds in trust for the exclusive use and benefit of such Purchaser. Neither Servicer nor any Seller shall, directly or indirectly, utilize such funds for its own purposes, and shall not have any right to pledge such funds as collateral for any obligations of Servicer or Seller or any other Person. (v).

Funds Held in Trust. Prior to being deposited in the Collection Purchaser’s Account, funds received by Seller Sellers or Servicer in respect of any Purchased Receivables shall be deemed to be the exclusive property of the Purchaser who purchased such Purchased ReceivablesPurchaser, and each Seller and Servicer each shall be deemed to be holding such funds in trust for the exclusive use and benefit of such Purchaser. Neither Servicer nor any Seller shall, directly or indirectly, utilize such funds for its own purposes, and shall not purposes or have any right to pledge deal with such funds in any manner other than as collateral for any obligations of Servicer or Seller or any other Person. (v)expressly provided in this Agreement.

Funds Held in Trust. Prior to being deposited in the Collection Account, funds received by Seller or Servicer in respect of any Purchased Receivables shall be deemed to be the exclusive property of the Purchaser who purchased such Purchased Receivables, and Seller and Servicer each shall be deemed to be holding such funds in trust for the exclusive use and benefit of such Purchaser. Neither Servicer nor any Seller shall, directly or indirectly, utilize such funds for its own purposes, and shall not have any right to pledge such funds as collateral for any obligations of Servicer or Seller or any other Person. (v).

Funds Held in Trust. Prior to being deposited in to the Collection Purchaser’s Account, funds received by a Seller or Servicer in respect of any Purchased Receivables shall be deemed to be remain, nevertheless, the exclusive property of the Purchaser who purchased such Purchased ReceivablesPurchaser, and each Seller and Servicer each shall be deemed to be holding such funds in trust for the exclusive use and benefit of such Purchaser. Neither Servicer nor any Seller shall, directly or indirectly, utilize such funds for its own purposes, and shall not have any right to pledge such funds as collateral for any obligations of Servicer or Seller or any other Person. (v).