Monthly Payment Dates. Notwithstanding any limitation on recourse contained in this Agreement, on each Monthly Payment Date, Seller shall pay to the Administrative Agent, for the benefit of such Purchasers or the Servicer, as applicable, in each case, on a full recourse basis and without duplication (i) the Unused Fee, (ii) all amounts payable as Yield, (iii) all amounts payable pursuant to Article X, if any, and (iv) all Servicer costs and expenses, including the Servicing Fee, in connection with servicing, administering and collecting the Receivables (all of the foregoing, together with the Administrative Agent’s Fee, collectively, the “Recourse Obligations”). Notwithstanding the foregoing, no provision of this Agreement or any Fee Letter shall require the payment or permit the collection of any amounts hereunder in excess of the maximum permitted by applicable law. If at any xxxx Xxxxxx receives any Collections or is deemed to receive any Collections, Seller shall immediately pay such Collections or Deemed Collections to the Servicer for application in accordance with the terms and conditions hereof and, at all times prior to such payment, such Collections or Deemed Collections shall be held in trust by Seller for the exclusive benefit of the Purchasers and the Agents.
Monthly Payment Dates. Notwithstanding the limitation on recourse under Section 2.01 hereof, on each Monthly Payment Date, (a) the Transferor shall pay to the Administrative Agent, for distribution to the Purchasers, all accrued and unpaid Discount, all accrued and unpaid Fees for the calendar month (or portion thereof) then most recently ended and all other Aggregate Unpaids (other than Net Investment), if any, that are then due and owing, and (b) the Transferor shall pay to the Collection Agent the accrued and unpaid Servicing Fee for the calendar month (or portion thereof) then most recently ended. Nothing in this Agreement or the other Transaction Documents shall limit in any way the obligations of the Transferor to pay the amounts set forth in this Section 2.04.
Monthly Payment Dates. Notwithstanding any limitation on recourse contained in this Agreement, on each Monthly Payment Date, Seller shall pay (a) in the case of Recourse Obligations (as defined below) owing to the Purchasers (other than the Xxxxxxxx Group and the Liquidity Banks) or the Servicer, as the case may be, to the Administrative Agent, for the benefit of such Purchasers or the Servicer, as applicable, and (b) in the case of Recourse Obligations owing to the Xxxxxxxx Group or the Liquidity Banks, the Xxxxxxxx Group Agent, for the benefit of each such Person, in each case, on a full recourse basis and without duplication (i) the Unused Fee, (ii) all CP Costs, together with all Broken Funding Costs (if any), (iii) all amounts payable as Yield, (iv) all amounts payable pursuant to Article X, if any, and (v) all Servicer costs and expenses, including the Servicing Fee, in connection with servicing, administering and collecting the Receivables (all of the foregoing, together with the Administrative Agent’s Fee, collectively, the “Recourse Obligations”). Notwithstanding the foregoing, no provision of this Agreement or any Fee Letter shall require the payment or permit the collection of any amounts hereunder in excess of the maximum permitted by applicable law. If at any xxxx Xxxxxx receives any Collections or is deemed to receive any Collections, Seller shall immediately pay such Collections or Deemed Collections to the Servicer for application in accordance with the terms and conditions hereof and, at all times prior to such payment, such Collections or Deemed Collections shall be held in trust by Seller for the exclusive benefit of the Purchasers and the Agents.
