Collection Fund definition
Examples of Collection Fund in a sentence
Such compensation and reimbursement shall be paid first from the Collection Fund created pursuant to the Indenture to the extent and in the priority set forth in the Indenture and then from the Payments as set forth in Section 4.01(b) hereof.
The Issuer shall cause all amounts required to be credited to the Collection Fund, upon receipt by the Issuer or a Servicer, or any agent thereof, as the case may be, to be forthwith transmitted to the Trustee for such credit.
Amounts in the Administration Fund in excess of amounts needed to pay Servicing Fees, Administration Fees or Note Fees may, upon Issuer Order, be transferred to the Collection Fund.
All cash receipts will be remitted to the Trustee for deposit into the Collection Fund within two (2) Business Days following posting of such receipts.
Principal of and interest and unpaid Carryover Interest on the Notes shall be paid from the moneys available therefor in the Note Payment Account in the Collection Fund and in the Reserve Fund.