Examples of Collection Amount in a sentence
The Commission Fee and Penalty shall be paid in the same currency as the Collection Amount, while in case of necessity of conversion of the amount for the said purpose the conversion shall be carried out at the expense of the Customer at the commercial rate of exchange established in the Bank by the date of conversion, or at the exchange rate agreed with the Customer (if any).
In such a case the Bank will acquire the priority right before other creditors to satisfy in the first place, in full and properly, its claim to the Customer regarding the repayment of the Collection Amount, Interest, Commission Fee, Penalty and other charges from the abovementioned funds.
Collection - the Bank’s obligation specified by the terms and conditions of the Agreement to ensure directly and/or through the Remitting Bank: (a) delivery of the Collection Order to the Remittee; (b) issue a Commercial Document to the Remittee against the payment or/and performance of other terms and conditions by the Remittee and (c) transfer of the Collection Amount or Document (if any) from the Remittee to the Customer.
By the close of business on the fourth Business Day prior to each Payment Date, the Master Servicer shall cause the Servicer to withdraw from the Collection Account the Available Collection Amount and deposit such into the Note Payment Account for such Payment Date.
Collection Amount - the amount specified in the Collection Agreement and the related payments (interest) to be paid by the Remittee to the Bank or Remitting Bank against the Collection Document.