Liquidation Settlement Procedures Sample Clauses

Liquidation Settlement Procedures. If at any time on or prior to the Termination Date for such Class the Aggregate Percentage Factor is greater than the Maximum Percentage Factor, then the Transferor shall immediately pay to the Administrative Agent, for the benefit of the Class Investors from previously received Collections, an amount equal to the amount such that, when applied in reduction of the Aggregate Net Investment, will result in an Aggregate Percentage Factor less than or equal to the Maximum Percentage Factor. Such amounts shall be applied pro rata to the reduction of the Net Investment for each Class of the Tranche Periods selected by the Class Agent for such Class. With respect to each Class, on the Termination Date for such Class and on each day thereafter, and on each day on which a Termination Event or Potential Termination Event has occurred and is continuing for such Class, the Collection Agent shall set aside and hold in trust for the applicable Class Investors for such Class (or deposit into the Collection Account if so required pursuant to Section 2.12 hereof) the Percentage Factor for such Class of all Collections received on such day and shall set aside and hold in trust for the Transferor such portion of Collections not allocated to the Class Investors. On each such Termination Date or the day on which a Termination Event or Potential Termination Event for such Class for which there is no grace period occurs, the Collection Agent shall deposit to the Administrative Agent’s account, for the benefit of the applicable Class Investors for such Class, any amounts set aside pursuant to Section 2.5 above. With respect to each Class, on the last day of each Tranche Period to occur on or after such Termination Date for such Class or during the continuance of a Termination Event or Potential Termination Event for such Class, the Collection Agent shall deposit to the Administrative Agent’s account to the extent not already so deposited, for the benefit of the Class Investors for such Class, the amounts so set aside for such Class Investors, pursuant to the second preceding sentence, but not to exceed the sum of (i) the accrued Discount (which, in the case of Discount computed by reference to the CP Rate with respect to any Class Conduit that utilizes “poolfunding, shall be determined for such purpose using the CP Rate most recently determined by the related Class Agent, multiplied by the Fluctuation Factor) for such Tranche Period (ii) the portion of the Net Investment alloca...
Liquidation Settlement Procedures. Following any date after the Termination Date on which all Aggregate Unpaids have been paid in full, (i) the Collateral Agent shall be considered to have released its security interest in and continuing Lien on the Collateral, including all of the Receivables and Related Security, (ii) the Collection Agent shall pay to the Debtor any remaining Collections set aside and held by the Collection Agent, and (iii) the Collateral Agent shall execute and deliver to the Debtor, at the Debtor's expense, such documents or instruments as are necessary to terminate the Collateral Agent's security interest in the Collateral, including all of the Receivables and Related Security and Collections with respect thereto. Any such documents shall be prepared by or on behalf of the Debtor at the expense of the Debtor.
Liquidation Settlement Procedures. On the Liquidation --------------------------------- Day of a Receivable Interest and on each day thereafter, the Collection Agent shall set aside and hold in trust for the holder of such Receivable Interest, the percentage evidenced by such Receivable Interest of Collections received on such day. On the last day of each Tranche Period of a Receivable Interest after the occurrence of its Liquidation Day, the Collection Agent shall remit to the Agent's account the amounts set aside pursuant to the preceding sentence, together with any remaining amounts set aside pursuant to Section 1.8 prior to such day, but not to exceed the sum of (i) the accrued Discount for such Receivable Interest, (ii) the Capital of such Receivable Interest, and (iii) the aggregate of all other amounts then owed hereunder by Seller to the Purchasers. If there shall be insufficient funds on deposit for the Collection Agent to distribute funds in payment in full of the aforementioned amounts, the Collection Agent shall distribute funds first, to reimbursement of the Agent's costs of collection and enforcement of this Agreement, second, in reduction of the Capital of the Receivable Interests, third, in payment of all accrued Discount for the Receivable Interests and fourth, in payment of all other amounts payable to the Purchasers. Collections allocated to the Receivable Interests of the Investors shall be shared ratably by the Investors in accordance with their Pro Rata Shares. Collections applied to the payment of fees, expenses, Discount and all other amounts payable by the Seller to the Agent and the Purchasers hereunder shall be allocated ratably among the Agent and the Purchasers in accordance with such amounts owing to each of them. Following the date on which the Aggregate Unpaids are reduced to zero, the Collection Agent shall pay to Seller any remaining Collections set aside and held by the Collection Agent pursuant to this Section 1.7.
Liquidation Settlement Procedures. On each Business Day from and after the Facility Termination Date until the Termination Date, the Administrative Agent shall, as soon as practicable, transfer all amounts then on deposit in the Retention Account to the Collection Account and shall transfer all amounts in the Collection Account (including amounts transferred from the Retention Account pursuant to Section 6.02(c)) in the following priority:
Liquidation Settlement Procedures. (a) If at any time on or prior to the Termination Date, the Percentage Factor is greater than the Maximum Percentage Factor, then the Transferor shall immediately pay to the Administrative Agents for the Related Groups, for the benefit of the applicable Investors in their respective Related Groups, from previously received Collections, an aggregate amount equal to the amount such that, when applied in reduction of the Net Investment, will result in the Percentage Factor being less than or equal to the Maximum Percentage Factor. Such aggregate amount shall be paid to such Administrative Agents ratably in accordance with the portion of the Net Investment held by their respective Related Groups. Any amount so paid to an Administrative Agent for a Related Group shall be applied to the reduction of the Net Investment of Tranche Periods applicable to such Related Group selected by such Administrative Agent.
Liquidation Settlement Procedures. On each Liquidation Day, the Agent shall transfer to the Sweep Account the Collections of Pool Receivables received on such day, and the Agent shall apply such Collections, and all amounts held in the Cash Assets Account, as follows:
Liquidation Settlement Procedures. 8 SECTION 2.07. Reduction of Commitments .....................................10 SECTION 2.08. Fees .........................................................10 SECTION 2.09. Protection of Ownership Interest of the CP Conduit Purchasers and the Committed Purchasers ....................10 SECTION 2.10. Deemed Collections; Application of Payments. .................11 SECTION 2.11. Payments and Computations, etc. ..............................12 SECTION 2.12. Reports ......................................................12 SECTION 2.13. Collection Accounts. .........................................13 SECTION 2.14. Right of Setoff ..............................................14 SECTION 2.15. Sharing of Payments, etc. ....................................14 SECTION 2.16.
Liquidation Settlement Procedures. On each Business Day from and after the Facility Termination Date until the Termination Date, the Administrative Agent shall, as soon as practicable, transfer all amounts in the Collection Account in the following priority:
Liquidation Settlement Procedures. (a) On each Liquidation Day (including, without limitation, the Special Termination Date), the Agent shall deposit to the Agent’s Account the Collections of Pool Receivables received on such day and shall apply them as follows:
Liquidation Settlement Procedures. On each Remittance Date occurring on and following the earlier of a Termination Date or a Special Termination Date, Principal Collections shall be applied in accordance with Section 2.5(d). Each Purchaser Agent, as applicable, upon its receipt of such amounts in its account, shall distribute such amounts to the applicable Purchasers and/or Bank Investors entitled thereto as set forth above; provided that if the Collection Agent shall have insufficient funds to pay all of the above amounts in full on any such date, the Collection Agent shall pay such amounts in the order of priority set forth above and, with respect to any such category above for which the Collection Agent shall have insufficient funds to pay all amounts owing on such date, ratably (based on the amounts in such categories owing to such Persons) among all such Persons entitled to payment thereof. Following the date on which the Net Investments have been reduced to zero and all other Aggregate Unpaids have been paid in full, (i) the Collection Agent shall recompute the Buyer's Percentage Factor as zero, (ii) the Purchaser Agents, on behalf of their related Purchasers and Bank Investors shall be deemed to have reconveyed to the Transferor all of the Purchaser Agents' right, title and interest in and to the Affected Assets (including the Transferred Interest), (iii) the Collection Agent shall pay to the Transferor any remaining Collections held by any of the Purchaser Agents or the Collection Agent pursuant to Section 2.5 or 2.12 and (iv) the Purchaser Agents, on behalf of their related Purchasers and Bank Investors shall execute and deliver to the Transferor, at the Transferor's expense, such documents or instruments as are necessary to terminate the applicable Purchase Agent's interests in the Affected Assets. Any such documents shall be prepared by or on behalf of the Transferor.