Collected Payments definition
Examples of Collected Payments in a sentence
Interest and Fees and Charges may be deducted from Advances or from Collected Payments.
Upon occurrence of an Event of Default, interest on Outstanding Advances shall thereafter accrue, both before and after judgment, at the Default Rate until receipt of Collected Payments.
Interest shall accrue on Outstanding Advances, both before and after judgment, from the date of disbursement until receipt of Collected Payments, at the Daily Funds Rate.
Summit may fund the Reserve by withholding amounts owing to Client for Advances or deducting amounts from Collected Payments.
As to all amounts owing to Summit by Client, Summit may (i) deduct such amount from Collected Payments received on Accounts, (ii) setoff and deduct such amount against Advances or any amount owing by Summit to Client, (iii) demand payment from Client whereupon Client shall promptly pay such amount to Summit, or (iv) exercise any combination of the alternatives set forth in this Section or available under this Agreement, at law, or in equity.
As to all amounts owing to Lender by Borrower, Lender may (a) deduct such amount from Collected Payments, (b) setoff and deduct such amount against disbursements of the Loan, (c) demand payment from Borrower whereupon Borrower shall promptly pay such amount to Lender, or (d) exercise any combination of the alternatives set forth in this Section or available under the Loan Documents, at law, or in equity.
Collected Payments on Serviced Accounts shall be paid to Client on the next Settlement Date.
Before and upon an Event of Default, or any time thereafter, Purchaser may apply, in its discretion, Collected Payments among Fees and Expenses, then to Outstanding Purchases, and then to the Obligations, and, if Purchaser receives payment from an Account Debtor on an Account which is not a Purchased Account, Purchaser may, subject to any rights of the Account Debtor, apply such payment to any Obligation of Seller.
Merchant provides discount certificates and Company holds proceeds in account for future purchases with Company minus a credit card processing fee of two and one‐half percent (2.5%) of the Collected Payments.
Company will pay the remaining balance of the Remittance Amount less any subsequent refunds, credit card chargebacks or other adjustments impacting the Collected Payments, within thirty (30) calendar days of the Deal Closing.