Contract Collections definition

Contract Collections means, (i) with respect to any Contract, any and all cash collections and other cash proceeds of such Contract, all Scheduled Payments or other payments or distributions of principal, interest, finance charges, fees, late charges or other amounts collected in respect of such Contract, all Insurance Proceeds, all payments from Contract Rights Payors, all Net Liquidation Proceeds, any Purchase Amounts paid by the Originator to the Borrower in connection with a repurchase of Contracts pursuant to the terms of the Purchase Agreement and any other amounts received by or on behalf of any DT Entity in respect of such Contract and (ii) all Hedge Receipts.
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Contract Collections means in respect of any Purchased Contracts all amounts collected by or on behalf of Carfinco in respect of such Contracts, excluding: (a) Contract Fees; (b) any federal goods and services tax and provincial sales tax; (c) any amount required by law to be paid or repaid to the payor or any third party claiming through, under or on behalf of the payor or in priority to Carfinco; and (d) any amount received on account of damages, costs or expenses the amount of which has not been included in Contract Expenses in respect of such Contracts;
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Examples of Contract Collections in a sentence

  • The undersigned BUYER/MAKER and SELLER/HOLDER hereby agree that Northwest Contract Collections, Inc., hereinafter referred to as NCCI, shall provide collection services as described below, and in any Addendum hereto.

  • Except as otherwise provided herein or in any other Transaction Document, sell, assign (by operation of law or otherwise) or otherwise dispose of, or create or suffer to exist any Adverse Claim upon or with respect to, any Receivable or related Contract, Collections or Related Security, or any interest therein, or assign any right to receive income in respect thereof.

  • The Servicer shall apply all Contract Collections to the Pledged Contracts owed by the applicable Contract Debtors in a timely manner in accordance with the business practices of DTCC in existence as of the date hereof.

  • Not later than the Business Day following its receipt of the Purchase Amount from the Originator, the Borrower shall prepay the Revolving Loans in an aggregate amount equal to such Purchase Amount, and such Purchase Amount shall be deemed to constitute Contract Collections hereunder.

  • The successor Servicer shall allocate Contract Collections relating to principal and interest in accordance with the terms of the related Pledged Contracts and this Agreement.

  • Such books and records shall include, without limitation, records adequate to permit the daily identification of each new Pledged Contract and all Contract Collections of and adjustments to each existing Pledged Contract.

  • Apply all Contract Collections to the Pledged Contracts owed by the applicable Contract Debtor in a timely manner in accordance with the servicing practices of the Originator in existence as of the date of this Agreement.

  • Such books and records shall include, without limitation, records adequate to permit the daily identification of each new Pledged Contracts and all Contract Collections of and adjustments to each existing Pledged Contracts.

  • The Depository Accounts set forth on Exhibit F are the only accounts to which Contract Debtors, Approved Sub-servicers or Lock-Box Processors remit Contract Collections of Pledged Contracts by wire transfer or electronic funds transfer.

  • The successor Servicer shall apply all Contract Collections with respect to each Pledged Contract for each Accounting Period to interest and principal in accordance with the terms of such Pledged Contract and this Agreement.