Common use of Other Payment Dates Clause in Contracts

Other Payment Dates. On each Business Day (including any Settlement Date), the Servicer shall set aside funds on deposit in the Collection Account in an amount equal to the accrued and unpaid Interest through such day that will become payable on a subsequent Business Day. On each Interest Payment Date, the Servicer shall direct the Collection Account Bank to pay the accrued and unpaid Interest due on such Interest Payment Date out of the funds so set aside. If any other Secured Obligation becomes due and payable on a date other than a Settlement Date, the Agent may, in its sole discretion, direct the Collection Account Bank to pay the Secured Obligations so due and payable.