Common use of Liquidation Settlements Clause in Contracts

Liquidation Settlements. (a) Notwithstanding the provisions of Sections 5.03(a) and (b) hereof, on each Liquidation Day with regard to each Settlement Period, the Servicer shall allocate to, and hold in trust for the benefit of, the Buyer for payment in accordance with Section 5.04(b), an amount of Collections equal to the product of (i) the Buyer's Allocation, and (ii) Collections in respect of the Purchased Receivables for such Liquidation Day. The Collections allocated to the Buyer pursuant to this section shall be allocated on a daily basis (i) first, to the payment of any Settlement Period Amount accrued and owing to the Buyer, (ii) second, subject to Section 6.06(e), to the payment of any Servicer's Compensation accrued and owing to the Servicer, (iii) third, to make payment in respect of any Purchase Availability Fee accrued and owing to the Buyer, (iv) fourth, to make payment in respect of the Net Investment, and (v) fifth, to the payment of any other amount accrued and owing to the Buyer under this Agreement. Any amount of such Collections which were not allocated to the Buyer pursuant to the first sentence of this Section 5.04 on such Liquidation Day, shall be remitted by the Servicer to the Seller. (b) Collections held by the Servicer on behalf of the Buyer pursuant to this Section 5.04 shall be remitted to the Buyer on the date which is the earlier of (i) two (2) Business Days or (ii) the number of days specified in Section 9-306(4)(d) of the Uniform Commercial Code as in effect in the jurisdiction whose Laws govern the rights of the Buyer in and to any such Collections after the Servicer receives such Collections.

Liquidation Settlements. (a) Notwithstanding the provisions of Sections 5.03(a) and (b) and Section 12.05 hereof, on each Liquidation Day with regard to each Settlement Period, the Servicer shall allocate toto the Administrative Agent, and hold in trust for the benefit of, the Administrative Agent on behalf of each Buyer for payment in accordance with Section 5.04(b), an amount of Collections equal to the product of (i) the such Buyer's Buyer's Allocation, and (ii) Collections in respect of the Purchased Receivables for such Liquidation Day. The Collections allocated to the Administrative Agent on behalf of each Buyer pursuant to this section shall be allocated pro rata on a daily basis (i) first, to the payment of any Settlement Period Amount Cost of Funds and Program Fee accrued and owing to the each Buyer, (ii) second, subject to Section 6.06(e), to the payment of any Servicer's Compensation accrued and owing to the Servicer, (iii) third, to make payment in respect of any Purchase Availability Facility Fee accrued and owing to the each Buyer, (iv) fourth, to make payment in respect of the Aggregate Net Investment, and (v) fifth, to the payment of any other amount amounts accrued and owing to the Buyer Buyers, the Managing Agents or the Administrative Agent under this Agreement. Any amount of such Collections which were not allocated to the Buyer Administrative Agent for the benefit of the Buyers pursuant to the first sentence of this Section 5.04 on such Liquidation Day, shall be remitted by the Servicer to the Seller. (b) Collections held by the Servicer on behalf of the Buyer Administrative Agent pursuant to this Section 5.04 shall be remitted to the Buyer Administrative Agent on the date which is the earlier of (i) two (2) Business Days or (ii) the number of days specified in Section 9-306(4)(d315(d) of the Uniform Commercial Code as in effect in the jurisdiction whose Laws govern the rights of the Buyer Buyers in and to any such Collections after the Servicer receives such Collections.

Liquidation Settlements. (a) Notwithstanding the provisions of Sections 5.03(a) and (b) hereof, on each Liquidation Day with regard to each Settlement Period, the Servicer shall allocate toto the Administrator (on behalf of each Buyer), and hold in trust for the benefit of, of the Buyer Administrator (on behalf of each Buyer) for payment in accordance with Section 5.04(b), an amount of Collections equal to the product of (i) the such Buyer's Allocation, and (ii) Collections in respect of the Purchased Receivables for such Liquidation Day. The Collections allocated to the Administrator on behalf of each Buyer pursuant to this section shall be allocated on a daily basis (i) first, to the payment of any Settlement Period Amount Cost of Funds and Program Fee accrued and owing to the each Buyer, (ii) second, subject to Section 6.06(e), to the payment of any Servicer's Compensation accrued and owing to the Servicer, (iii) third, to make payment in respect of any Purchase Availability Facility Fee accrued and owing to the each Buyer, (iv) fourth, to make payment in respect of the Aggregate Net Investment, and (v) fifth, to the payment of any other amount accrued and owing to the Administrator, the Buyers and the Buyer Agents under this Agreement. Any amount of such Collections which were not allocated to the Buyer Administrator (on behalf of each Buyer) pursuant to the first sentence of this Section 5.04 on such Liquidation Day, Day shall be remitted by the Servicer to the Seller. (b) Collections held by the Servicer (on behalf of the Administrator) on behalf of each Buyer pursuant to this Section 5.04 shall be remitted to the Buyer Administrator on or before the date which is the earlier of (i) two (2) Business Days or (ii) the number of days specified in Section 9-306(4)(d) of the Uniform Commercial Code as in effect in the jurisdiction whose Laws govern the rights of the Buyer in and to any such Collections after the Servicer receives such Collections.

Liquidation Settlements. (a) Notwithstanding the provisions of Sections 5.03(a) and (b) and Section 12.05 hereof, on each Liquidation Day with regard to each Settlement Period, the Servicer shall allocate toto the Administrative Agent, and hold in trust for the benefit of, the Administrative Agent on behalf of each Buyer for payment in accordance with Section 5.04(b), an amount of Collections equal to the product of (i) the such Buyer's ’s Buyer’s Allocation, and (ii) Collections in respect of the Purchased Receivables for such Liquidation Day. The Collections allocated to the Administrative Agent on behalf of each Buyer pursuant to this section shall be allocated pro rata on a daily basis (i) first, to the payment of any Settlement Period Amount Cost of Funds and Program Fee accrued and owing to the each Buyer, (ii) second, subject to Section 6.06(e), to the payment of any Servicer's ’s Compensation accrued and owing to the Servicer, (iii) third, to make payment in respect of any Purchase Availability Facility Fee accrued and owing to the each Buyer, (iv) fourth, to make payment in respect of the Aggregate Net Investment, and (v) fifth, to the payment of any other amount amounts accrued and owing to the Buyer Buyers, the Managing Agents or the Administrative Agent under this Agreement. Any amount of such Collections which were not allocated to the Buyer Administrative Agent for the benefit of the Buyers pursuant to the first sentence of this Section 5.04 on such Liquidation Day, shall be remitted by the Servicer to the Seller. (b) Collections held by the Servicer on behalf of the Buyer Administrative Agent pursuant to this Section 5.04 shall be remitted to the Buyer Administrative Agent on the date which is the earlier of (i) two (2) Business Days or (ii) the number of days specified in Section 9-306(4)(d315(d) of the Uniform Commercial Code as in effect in the jurisdiction whose Laws govern the rights of the Buyer Buyers in and to any such Collections after the Servicer receives such Collections.

Liquidation Settlements. (a) Notwithstanding the provisions of Sections 5.03(a) and (b) hereof, on each Liquidation Day with regard to each Settlement Period, the Servicer shall allocate to, and hold in trust for the benefit of, the Buyer for payment in accordance with Section 5.04(b), an amount of Collections equal to the product of (i) the Buyer's Allocation, and (ii) Collections in respect of the Purchased Receivables for such Liquidation Day. The Collections allocated to the Buyer pursuant to this section shall be allocated on a daily basis (i) first, to the payment of any Settlement Period Amount Cost of Funds and Program Fee accrued and owing to the Buyer, (ii) second, subject to Section 6.06(e), to the payment of any Servicer's Compensation accrued and owing to the Servicer, (iii) third, to make payment in respect of any Purchase Availability Facility Fee accrued and owing to the Buyer, (iv) fourth, to make payment in respect of the Net Investment, and (v) fifth, to the payment of any other amount accrued and owing to the Buyer under this Agreement. Any amount of such Collections which were not allocated to the Buyer pursuant to the first sentence of this Section 5.04 on such Liquidation Day, shall be remitted by the Servicer to the Seller. (b) Collections held by the Servicer on behalf of the Buyer pursuant to this Section 5.04 shall be remitted to the Buyer on or before the date which is the earlier of (i) two (2) Business Days or (ii) the number of days specified in Section 9-306(4)(d) of the Uniform Commercial Code as in effect in the jurisdiction whose Laws govern the rights of the Buyer in and to any such Collections after the Servicer receives such Collections.

Liquidation Settlements. (a) Notwithstanding the provisions of Sections 5.03(a) and (b) hereof, on each Liquidation Day with regard to each Settlement Period, the Servicer shall allocate to, and hold in trust for the benefit of, the Buyer for payment in accordance with Section 5.04(b), an amount of Collections equal to the product of (i) the Buyer's Allocation, and (ii) Collections in respect of the Purchased Receivables for such Liquidation Day. The Collections allocated to the Buyer pursuant to this section shall be allocated on a daily basis (i) first, to the payment of any Settlement Period Amount Cost of Funds and Program Fee accrued and owing to the Buyer, (ii) second, subject to Section 6.06(e), to the payment of any Servicer's Compensation accrued and owing to the Servicer, (iii) third, to make payment in respect of any Purchase Availability Facility Fee accrued and owing to the Buyer, (iv) fourth, to make payment in respect of the Net Investment, and (v) fifth, to the payment of any other amount accrued and owing to the Buyer under this Agreement. Any amount of such Collections which were not allocated to the Buyer pursuant to the first sentence of this Section 5.04 on such Liquidation Day, shall be remitted by the Servicer to the Seller. (b) Collections held by the Servicer on behalf of the Buyer pursuant to this Section 5.04 shall be remitted to the Buyer on the date which is the earlier of (i) two (2) Business Days or (ii) the number of days specified in Section 9-306(4)(d) of the Uniform Commercial Code as in effect in the jurisdiction whose Laws govern the rights of the Buyer in and to any such Collections after the Servicer receives such Collections.Buyer