Common use of Withdrawal of Funds Not Constituting Collections Clause in Contracts

Withdrawal of Funds Not Constituting Collections. The Servicer may direct the Collateral Agent or such other entity maintaining control over the applicable Collection Account to withdraw from any Collection Account and pay to the Servicer, or deliver to the applicable party for deposit into another Collection Account, amounts that do not constitute Collections for any Collection Period or that were deposited into such Collection Account in error.

Appears in 3 contracts

Samples: Servicing Agreement (Mercedes-Benz Auto Lease Trust 2023-A), Servicing Agreement (Mercedes-Benz Auto Lease Trust 2023-A), Servicing Agreement (Daimler Trust)

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Withdrawal of Funds Not Constituting Collections. The Servicer may direct the Collateral Agent or such other entity maintaining control over the applicable Collection Account to withdraw from any Collection Account and pay to the Servicer, Servicer or deliver to the applicable party for deposit into another Collection Account, amounts that do not constitute Collections for any Collection Period or that were deposited into such Collection Account in error.

Appears in 1 contract

Samples: Servicing Agreement (CAB West LLC)

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