Net Deposits. If the Monthly Remittance Condition is satisfied, the Servicer shall be permitted to deposit into the Collection Account only the net amount distributable to Persons other than the Servicer and its Affiliates on the Payment Date. The Servicer shall, however, account as if all of the deposits and distributions described herein were made individually.
Appears in 91 contracts
Samples: Sale and Servicing Agreement (Santander Drive Auto Receivables Trust 2010-3), Sale and Servicing Agreement (Santander Drive Auto Receivables Trust 2011-3), Sale and Servicing Agreement (USAA Auto Owner Trust 2012-1)
Net Deposits. If the Monthly Remittance Condition is satisfied, the Servicer shall be permitted to deposit into the Collection Account only the net amount distributable to Persons other than the Servicer and its Affiliates on the Payment Date. The Servicer shall, however, account as if all of the deposits and distributions described herein were made individuallyindividually and in such event the Indenture Trustee shall distribute funds pursuant to Section 4.4(a) hereof without allocating any amounts for payment to the Servicer or its Affiliates.
Appears in 13 contracts
Samples: Sale and Servicing Agreement (Capital One Auto Finance Trust 2007-C), Sale and Servicing Agreement (Capital One Auto Receivables LLC), Sale and Servicing Agreement (Capital One Auto Receivables LLC)
Net Deposits. If So long as the Monthly Remittance Condition is satisfied, the Servicer shall be permitted to deposit into the Collection Account only the net amount distributable to Persons other than the Servicer and its Affiliates on the Payment Date. The Servicer shall, however, account as if all of the deposits and distributions described herein were made individually.
Appears in 1 contract
Samples: Sale and Servicing Agreement (SunTrust Auto Receivables, LLC)
Net Deposits. If the Monthly Remittance Condition is satisfied, the Servicer shall be permitted to deposit into the Collection Account only the net amount distributable to Persons other than the Servicer and its Affiliates on the Payment Date. The Servicer shall, however, account as if all of the deposits and distributions described herein were made individually.]
Appears in 1 contract
