ABS Collections definition

ABS Collections means (i) any and all amounts received in respect of principal or interest on the ABS Assets from or on behalf of each ABS Trust that are deposited into the ABS Collateral Account in the form of cash, checks, wire transfers, electronic transfers or any other form of cash payment, whether received prior to or following the occurrence of any ABS Event of Default and whether received by the Deal Agent, the Servicer, the related Originator or the Borrower and (ii) any other funds received by the Borrower, the related Originator or the Servicer with respect to any ABS Asset.
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Examples of ABS Collections in a sentence

  • The Borrower will deliver to the Deal Agent for further remittance to the ABS Collateral Account promptly (but in no event later than two Business Days after receipt) all ABS Collections received by the Borrower in respect of the ABS Assets.

Related to ABS Collections

  • Excess Collections shall have the meaning specified in Section 2.8(a)(xv) of the Indenture.

  • Net Collections With respect to any Corrected Mortgage Loan, an amount equal to all payments on account of interest and principal on such Mortgage Loan.

  • Interest Collections means, (i) with respect to any Loan Asset, all payments and collections attributable to interest on such Loan Asset, including, without limitation, all scheduled payments of interest and payments of interest relating to principal prepayments, all guaranty payments attributable to interest and proceeds of any liquidations, sales, dispositions or securitizations attributable to interest on such Loan Asset and (ii) amendment fees, late fees, waiver fees or other amounts received in respect of Loan Assets.

  • Available Collections means, for any Distribution Date, (i) all Obligor payments received with respect to the Receivables during the preceding Collection Period, (ii) all Liquidation Proceeds received with respect to the Receivables during the preceding Collection Period, (iii) all interest earned on funds on deposit in the Collection Account during the preceding Collection Period, (iv) the aggregate Purchase Amount deposited in the Collection Account on the preceding Distribution Date, (v) all prepayments received with respect to the Receivables during the preceding Collection Period attributable to any refunded item included in the Amount Financed (including amounts received as a result of rebates of extended service plan contract costs and insurance premiums and proceeds received under physical damage, theft, GAP, credit life and credit disability insurance policies), and (vi) all Simple Interest Advances deposited into the Collection Account by the Servicer on the Business Day preceding such Distribution Date; provided, however, that Available Collections for any Distribution Date shall not include any payments or other amounts (including Liquidation Proceeds) received with respect to any Purchased Receivable for the Collection Period during which the related Purchase Amount was deposited by the Seller into the Collection Account; provided further, that Available Collections for any Distribution Date shall not include any payments or other amounts (including Liquidation Proceeds) received with respect to any Receivable to the extent that the Servicer has made an unreimbursed Simple Interest Advance with respect to such Receivable and is entitled to reimbursement from such payments or other amounts pursuant to Section 4.4 of the Sale and Servicing Agreement; and, provided further, that Available Collections for any Distribution Date shall not include any payments or other amounts (including Liquidation Proceeds) received with respect to the Receivables that are retained by the Servicer as reimbursement for Unreimbursed Servicer Advances pursuant to Section 4.4 of the Sale and Servicing Agreement; provided, further, however, that Available Collections for any Distribution Date will exclude any Supplemental Servicing Fees.

  • Finance Charge Collections means Collections of Finance Charge Receivables.