Payments and Collections. All funds received by the Agent in respect of any payments made by the Borrower on the Revolving Notes or Revolving Commitment Fees shall be distributed forthwith by the Agent among the Banks, in like currency and funds as received, ratably according to each Bank's Revolving Percentage. After any Event of Default has occurred, all funds received by the Agent, whether as payments by the Borrower or as realization on collateral or on any guaranties, shall (except as may otherwise be required by law) be distributed by the Agent in the following order: (a) first to the Agent or any Bank who has incurred unreimbursed costs of collection with respect to any Obligations hereunder, ratably to the Agent and each Bank in the proportion that the costs incurred by the Agent or such Bank bear to the total of all such costs incurred by the Agent and all Banks; (b) next to the Agent for the account of the Banks (in accordance with their respective Revolving Percentages) for application on the Revolving Notes; and (c) last to the Agent for the account of the Banks (in accordance with their respective Revolving Percentages) for any unpaid Revolving Commitment Fees owing by the Borrower hereunder.
Payments and Collections. 4 Section 2.1 Payments.....................................................................4 Section 2.2 Collections Prior to Amortization............................................5 Section 2.3 Collections Following Amortization...........................................5 Section 2.4 Application of Collections...................................................6 Section 2.5 Payment Recission............................................................6 Section 2.6 Maximum Purchaser Interests..................................................6 Section 2.7 Clean Up Call................................................................7
Payments and Collections. Section 2.1 Payments............................................................................................................................... 3 Section 2.2 Collections Prior to Amortization.......................................................................................... 3 Section 2.3 Collections Following Amortization..................................................................................... 4 Section 2.4 Application of Collections..................................................................................................... 4 Section 2.5 Payment Recission................................................................................................................. 5 Section 2.6 Maximum Purchaser Interests............................................................................................... 5 Section 2.7 Clean Up Call ....................................................................................................................... 5
Payments and Collections. Section 2.1 Payments 13 Section 2.2 Collections Prior to Amortization 13 Section 2.3 Collections Following Amortization 14 Section 2.4 Application of Collections 14 Section 2.5 Payment Rescission 15 Section 2.6 Maximum Purchaser Interests 15 Section 2.7 Clean Up Call 16 ARTICLE III CONDUIT PURCHASER FUNDING Section 3.1 CP Costs and Yield 16 Section 3.2 CP Costs Payments 16 Section 3.3 Calculation of CP Costs 16 Section 3.4 Selection and Continuation of Tranche Periods 17 ARTICLE IV COMMITTED PURCHASER FUNDING; CONDUIT PURCHASER FUNDING THROUGH SOURCE OTHER THAN COMMERCIAL PAPER Section 4.1 Committed Purchaser Funding; Conduit Purchaser Funding Through Source Other Than Commercial Paper 17 Section 4.2 Yield Payments 17 Section 4.3 Selection and Continuation of Tranche Periods 18 Section 4.4 Committed Purchaser Interest Rates 18 Section 4.5 Suspension of the Adjusted LIBO Rate 18 ARTICLE V
Payments and Collections. All payments made by check hereunder shall be made, without setoff or counterclaim, to TCFC prior to 12:00 Noon, Chicago time, on the date due at its office in immediately available funds at Chicago, Illinois or at such other place as may be designated by TCFC to Dealer in writing or by EDI. Any payments received after such time shall be deemed received on the next Business Day. Whenever any payment shall be stated to be due on a date other than a Business Day, such payment may be made on the next succeeding Business Day, and such extension of time shall be included in the computation of interest, fees and charges. Notwithstanding anything to the contrary herein, all items of payment for purposes of (i) determining the occurrence of a Default shall be deemed received upon actual receipt by TCFC at its bank, The Northern Trust Bank , Chicago or such other bank as TCFC may use as its depository bank unless subsequently dishonored for any reason; (ii) calculating the Borrowing Base shall be applied by TCFC against the principal of and/or interest on any Loans on the first Business Day after receipt by TCFC at its bank the First National Bank of Chicago or such other bank as TCFC may use as its depository bank; and (iii) calculating interest shall be deemed to have been applied by TCFC against the principal of and/or interest on any Loan on the first Business Day after actual receipt by TCFC, whether by check, wire transfer, ACH Debit or any other form of payment whatsoever. Dealer may be eligible for an Early Payment Rebate pursuant to the provisions of Schedule 2.12. TCFC may at any time in its sole discretion change the time for payment of future Loans or change product lines of Inventory to be financed and the terms of such financing by giving Dealer a notice specifying such change.
Payments and Collections. All funds received by Agent with respect to any payments made by any Borrower on the Loans, the Commitment Fee, or LC Fees shall be promptly distributed by Agent among the Lenders, in like currency and funds as received, ratably according to each Lender’s Applicable Share. All funds received by Agent with respect to any payments made by Company on the Swingline Loan shall be promptly distributed by Agent to Swingline Lender, in like currency and funds as received. After any Event of Default has occurred, all funds received by Agent, whether as payments by Borrowers or as realization on collateral or on any guaranties, shall (except as may otherwise be required by law) be distributed by Agent in the following order: (a) first to Agent or any Lender that has incurred unreimbursed costs of collection with respect to any Obligations under this Agreement, ratably to Agent and each Lender in the proportion that the costs incurred by Agent or such Lender bear to the total of all such costs incurred by Agent and all Lenders; (b) next to Agent for the account of the Lenders for application on the Loan (first to unpaid accrued interest and then to principal) and to pay any Rate Protection Obligations then due and payable, ratably to the Lenders and the holders of such Rate Protection Obligations; provided that: (i) if no Rate Protection Obligations are then due and payable, each Lender’s ratable share shall be based on its Applicable Share; or (ii) if any Rate Protection Obligations are then due and payable, then: (A) the denominator used in calculating each Lender’s Applicable Share shall be increased by the amount of such then due and payable Rate Protection Obligations; and (B) each Rate Protection Provider’s ratable share shall be calculated as the percentage equivalent of a fraction, the numerator of which are the Rate Protection Obligations then due and payable to such Rate Protection Provider and the denominator of which is the sum of the Commitment Amounts (or, if the Revolving Credit Commitments have terminated, the Aggregate Outstanding Credit Exposure) of all Lenders and all Rate Protection Obligations then due and payable; (c) next to Agent for the account of the Lenders (in accordance with their Applicable Shares) for any unpaid Commitment Fee or LC Fees owing by the Borrowers under this Agreement; (d) next to Agent to be held in the Facility LC Collateral Account to cover any outstanding Facility LCs and upon the termination or expiration to the Facili...
Payments and Collections. Purchaser shall, for the purpose of the computation of fees due hereunder, add the Clearance Days to any Clearance Day Payments which is acknowledged by the parties to constitute an integral aspect of the pricing of Seller’s facility to Purchaser, and shall apply irrespective of the characterization of whether receipts are owned by Purchaser or Seller. Should any check or item of payment not be honored when presented for payment, then payment shall be deemed not to have been made, and the fees shall be recalculated accordingly.
Payments and Collections. Section 2.1. Collections during the Revolving Period. During the Revolving Period, any Collections and/or Deemed Collections received by the Servicer (or from and after the Dominion Date, by the Administrative Agent) shall be held in trust for the payment of any accrued and unpaid Aggregate Unpaids or for a Reinvestment as provided in this Section 2.1 (provided that Aggregate Capital shall not be payable during the Revolving Period except to the extent provided in Section 1.3 and Section 1.5, and Collections and/or Deemed Collections shall not be required to be segregated prior to the Dominion Date but instead shall be permitted to be used by the Servicer and its Affiliates in accordance with Section 6.2(c)). On each day during the Revolving Period that is not a Settlement Date, subject to Section 1.4, the last sentence of this Section 2.1 and Section 4.2, Collections that are not required to be segregated pursuant to Section 6.2(c) shall first be applied to making additional Purchases of undivided interests in the Receivables and the associated Related Security, such that after giving effect thereto, the outstanding Aggregate Capital is equal to the Aggregate Capital outstanding immediately prior to receipt of such Collections and the Receivable Interest does not exceed 100% (each such Purchase, a “Reinvestment”). Each Reinvestment will be presumed to be made ratably amongst all Purchaser Groups in accordance with their respective Percentages. On each Settlement Date, the Servicer shall deliver to each of the Co-Agents its Purchaser Group’s Percentage of all Collections received (or deemed received) during the related Calculation Period (after deducting therefrom its Servicing Fee) equal to the amounts due and owing pursuant to clauses first through fourth of Section 2.3 for application in accordance therewith (the “Required Amounts”). If on any Settlement Date during the Revolving Period there are insufficient Collections to pay all Required Amounts that are then due and owing under Section 2.3, the next available Collections shall be applied to such payments in accordance with Section 2.3, and no Reinvestment shall be permitted hereunder until such amounts payable have been paid in full.
Payments and Collections. All funds received by the Administrative Agent in respect of any payments made by any Borrower on the Tranche A Term Notes shall be distributed forthwith by the Administrative Agent among the Tranche A Term Lenders, in like currency and funds as received, ratably according to each such Lender’s Term Loan Percentage. All funds received by the Administrative Agent in respect of any payments made by any Borrower on the Tranche B Term Notes shall be distributed forthwith by the Administrative Agent among the Tranche B Term Lenders, in like currency and funds as received, ratably according to each such Lender’s Term Loan Percentage. All funds received by the Administrative Agent in respect of any payments made by any Borrower on the Revolving Notes, Commitment Fees or Letter of Credit Fees shall be distributed forthwith by the Administrative Agent among the Revolving Lenders, in like currency and funds as received, ratably according to each such Lender’s Revolving Loan Percentage.
Payments and Collections. Section 2.1 Payments of Recourse Obligations 5 Section 2.2 Collections Prior to the Facility Termination Date 6 Section 2.3 Repayment on the Facility Termination Date; Collections 6 Section 2.4 Payment Rescission 7 ARTICLE III. COMMERCIAL PAPER FUNDING Section 3.1 CP Costs 7 Section 3.2 Calculation of CP Costs 7 Section 3.3 CP Costs Payments 7 Section 3.4 Default Rate 7 ARTICLE IV. BANK FUNDINGS Section 4.1 Bank Fundings 7 Section 4.2 Yield Payments 8 Section 4.3 Suspension of the LIBO Rate 8 Section 4.4 Default Rate 8 Section 4.5 Effect of Benchmark Transition Event 8