Non-Liquidation Settlement and Reinvestment Procedures. With respect to each Class, on each day after the date of any Incremental Transfer but prior to the Termination Date for such Class and provided in each case that no Termination Event or Potential Termination Event for which there is no grace period shall have occurred and be continuing for such Class, the Collection Agent shall out of the Percentage Factor for such Class of Collections received on or prior to such day and not previously applied or accounted for: (i) 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), an amount equal to all Discount (which, in the case of Discount computed by reference to the CP Rate with respect to any Class Conduit that utilizes “pool” funding, 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 Class and the Servicing Fee accrued through such day and not so previously set aside or paid and (ii) apply the balance of the Aggregate Percentage Factor of Collections remaining after application of Collections as provided in clause (i) of this Section 2.5 to the Transferor, for the benefit of the Class Investors, as applicable, to the purchase of additional undivided percentage interests in each Receivable pursuant to Section 2.2(b) hereof. On the last day of each Tranche Period for each Class from the amounts set aside as described in clause (i) of the first sentence of this Section 2.5, the Collection Agent shall deposit to the Administrative Agent’s account, for the benefit of the applicable Class Investors for such Class, an amount equal to the accrued and unpaid Discount for such Class and for such Tranche Period and shall deposit to its own account an amount equal to the accrued and unpaid Servicing Fee for such Tranche Period. The Administrative Agent, upon its receipt of such amounts in the Administrative Agent’s account, shall distribute such amounts to the Class Investors entitled thereto as set forth above; provided that if the Administrative Agent shall have insufficient funds to pay all of the above amounts in full on any such date, the Administrative Agent shall pay such amounts ratably (based on the amounts owing to each such Class Investor) to all such Class Investors entitled to payment thereof. In addition, the Collection Agent shall remit to the Transferor at the end of each Tranche Period, as ...
Non-Liquidation Settlement and Reinvestment Procedures. On ------------------------------------------------------ each day after the date of any Incremental Transfer, but prior to the Termination Date, and provided that no Potential Termination Event shall have occurred and be continuing, the Collection Agent shall out of the Percentage Factor of the Collections received and distributed to the Transferor on or prior to such day and not previously applied or accounted for: (i) set aside and hold in trust for the Company (or deposit into the Collection Account if so required pursuant to Section 2.12) an amount equal to all Discount and the Servicing Fee accrued through such day and not so previously set aside or paid and (ii) apply the balance of such Percentage Factor of Collections remaining after application of the Collections as provided in clause (i) of this Section 2.5 to the Transferor, for the benefit of the Company to the purchase of additional undivided percentage interests in the Receivables pursuant to Section 2.2(b). On the last day of each Tranche Period, from the amounts set aside as described in clause (i) of the first sentence of this Section 2.5, the Collection Agent shall deposit to the Company's account, an amount equal to the accrued and unpaid Discount for such Tranche Period and shall deposit to its account an amount equal to the accrued and unpaid Servicing Fee for such Tranche Period. As provided in Section 6.2(b), the Collection Agent shall remit to the Transferor, as soon as practicable after receipt, such portion of Collections not allocated to the Company.
Non-Liquidation Settlement and Reinvestment Procedures. On each day after the date of any Incremental Transfer but prior to the Termination Date, and provided that Section 2.06 shall not be applicable, the Collection Agent shall, out of the Percentage Factor of Collections received on or prior to such day and not previously set aside or paid:
Non-Liquidation Settlement and Reinvestment Procedures. On each day after the date of any Incremental Transfer but prior to the Facility Termination Date, and provided that Section 1.5 shall not be applicable, the Servicer shall, out of the Collections represented by the Purchased Interest received on or prior to such day and not previously set aside or paid:
Non-Liquidation Settlement and Reinvestment Procedures. On each day after the date of the initial Transfer, but prior to the Termination Date, the Collection Agent shall, out of the Percentage Factor of Collections received on such day or prior to such day and not previously applied or accounted for, allocate funds in the following order: (i) from and after the request of the Company, set aside and hold in trust for the Company, an amount equal to all Discount and all facility fees and charges accrued through such day and not previously set aside or paid and (ii) apply the balance of such Percentage Factor of Collections remaining after application as provided in clause (i) of this Section 2.5 to (x) the Transfer, for the benefit of the Company, of additional undivided percentage interests in each Receivable, to the extent that a transfer under Section 2.5(ii)(x) would cause a Termination Event as described in Section 7.1(k) or 7.1(l), together with Residual Receivable Interest and Collections with respect thereto, pursuant to Section 2.2(b) or (y) as necessary to reduce the sum of the Aggregate Net Investment plus Discount to not more than the Facility Limit. On the last day of each Tranche Period, from the amounts set aside as described in clause (i) of the first sentence of this Section 2.5, the Collection Agent shall deposit to the Company's account an amount equal to the accrued and unpaid Discount for such Tranche Period.
Non-Liquidation Settlement and Reinvestment Procedures. (a) On each day after the date of any Incremental Transfer but prior to the Termination Date, and provided that no Potential Termination Event shall have occurred and be continuing, the Collection Agent shall:
Non-Liquidation Settlement and Reinvestment Procedures. (a) On each day after the date of any Incremental Borrowing but prior to the Termination Date, and provided that no Specified Potential Termination Event (other than a Specified Termination Event solely as a result of a breach Section 3.01(k) ) shall have occurred and be continuing, the Collection Agent shall, on a daily basis, out of the Collections received on or prior to such day and not previously applied or accounted for: (i) set aside and hold in trust for the Lenders, and deposit into the Interest Account as required pursuant to Section 2.12 hereof, an amount equal to all Interest, Servicing Fees, Program Fees and any operating expenses of the Borrower accrued through such day and not so previously set aside or paid, (ii) deposit into the Stamp Duty Reserve Account the amount as required pursuant to Section 5.01(p) hereof, and (iii) distribute, subject to the limitations provided in Section 2.06(a) and 5.02(k) hereof, the balance of such Collections remaining after application of Collections as provided in clause (i) of this Section 2.05 to the Borrower or at the Borrower’s direction; provided, however, that if a Specified Potential Termination Event resulting solely from a breach of Section 3.01(k) shall have occurred and be continuing, the amount distributed to the Borrower pursuant to this Section 2.05(a) shall exclude an amount equal to the amount required to be paid pursuant to Section 2.09 hereof to cure such breach.
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Non-Liquidation Settlement and Reinvestment Procedures. (a) Prior to setting aside the Percentage Factor of Collections received by the Transferor, the Sellers or the Servicer or deposited into a Lock-Box Account or the Collection Account on or prior to such day, the Servicer shall on each day after the Original Closing Date but prior to the Termination Date, and provided that no Termination Event or Potential Termination Event shall have occurred and be continuing, out of Collections deposited in the Collection Account, set aside and hold in trust an amount equal to all taxes and tips due and owing to a Restaurant and not previously paid to such Restaurant or deposited into such Restaurant's account by a Credit Card Processor, any portion of Arrear Sales due and owing to a Restaurant, unpaid Processing Fees and Rebates related to such Collections. On each day, the Servicer shall remit to TMN such portion of Collections set aside to pay any taxes and tips related to Collections, any portion of Arrear Sales due and owing to a Restaurant, any Processing Fees and the Rebates.
Non-Liquidation Settlement and Reinvestment Procedures. On each day on which Collections are received (or deemed received) by the Seller or the Servicer and which day is not a Termination Day, the Servicer, out of such Collections and any Collections received prior to such day and not previously set aside or paid pursuant to this Section 1.4 or Section 1.5, shall take the following actions:
