Excluded Collections means, with respect to any Loan Asset included as part of the Collateral Portfolio, any amounts attributable to (a) the payment of any Tax, fee or other charge imposed by any Governmental Authority on such Loan Asset or on any Underlying Collateral, (b) the reimbursement of insurance premiums, and (c) any escrows relating to Taxes, insurance and other amounts in connection with Loan Assets which are held in an escrow account for the benefit of the Obligor and the secured party pursuant to escrow arrangements under a Loan Agreement.
Excluded Collections means, with respect to any Excluded Receivable: (a) all funds that are received by any PG&E Party or any other Person on their behalf in payment of any amounts owed in respect of such Excluded Receivable (including purchase price, service charges, finance charges, interest, fees and all other charges), or applied to amounts owed in respect of such Excluded Receivable (including insurance payments, proceeds of drawings under supporting letters of credit and net proceeds of the sale or other disposition of repossessed goods or other collateral or property of the related obligor or any other Person directly or indirectly liable for the payment of such Excluded Receivable and available to be applied thereon) and (b) all other proceeds of such Excluded Receivable.
Excluded Collections shall have the meaning set forth in Section 5.2(c)(ii) hereof.
Examples of Excluded Collections in a sentence
The Servicer will use its best efforts to collect all Excluded Collections relating to each Loan Asset to the extent required to be paid to the Borrower for such application under the applicable Loan Agreement and remit such amounts to the appropriate Governmental Authority or insurer as required by the Loan Agreements.
No later than 60 days following the related Excluded Effective Date, instruct each Excluded Obligor to cause (and use commercially reasonable effort to ensure) all Excluded Collections to be deposited directly in one or more accounts (or any related lock-box or post office box) that do not constitute a Lock-Box Account.
Ensure that for each calendar month, that no more than $50,000,000 in the aggregate of Excluded Collections are directly or indirectly deposited into the Lock-Box Accounts during such calendar month.
Borrowers agree that all deposits and payments made to such Blocked Accounts or other funds received and collected by Lender, whether on the Accounts or as proceeds of Inventory or other Collateral or property securing the Obligations or otherwise (except with respect to Excluded Collections and deposits in the Blocked Accounts remitted to the Concentration Accounts pursuant to an unrevoked direction of Lender as hereafter provided) shall be the property of Lender.
Ensure that for each calendar month, that no more than 35.0% (or during the continuation of a Triggering Event, 0%) of the aggregate amount of all funds deposited into the Lock-Box Accounts during such calendar month constitute Subject Collections and Excluded Collections.
More Definitions of Excluded Collections
Excluded Collections means, with respect to any Excluded Receivable, all funds which are received by Seller, an Originator, CHR, Master Servicer or any other Person from or on behalf of the related Excluded Obligors in payment of any amounts owed (including purchase prices, finance charges, interest and all other charges) in respect of such Excluded Receivable, or applied to such other charges in respect of such Excluded Receivable, or applied to such amounts owed by such Excluded Obligors.
Excluded Collections means, in connection with each Receivable in respect of which the Originator has granted a Limited Recourse Loan or an Advance Indemnity pursuant to, respectively, Clause 3 and 4 of the Warranty and Indemnity Agreement, amounts recovered in respect thereof up to an amount equivalent to the corresponding Limited Recourse Loan or Advance Indemnity and interest thereon, as the case may be (only to the extent of the collections deriving from the Receivables in respect of which the relevant Advance Indemnity and/or Limited Recourse Loan was granted).
Excluded Collections means any amounts collected in connection with the Receivables in respect of which the Originators have granted a limited recourse loan pursuant to Clause 6 of the Warranty & Indemnity Agreement (provided that such amounts collected in connection with any such Receivables are excluded from the Issuer Available Funds only up to an amount equivalent to the corresponding limited recourse loan). The Portfolios The Receivables included in the Portfolios represent a plurality ofmonetary claims identifiable as a pool (pluralità di crediti pecuniari individuabili in blocco), pursuant to and in accordance with the combined provisions of articles 1 and 4 of the Securitisation Law and the implementing regulations to article 58 of the Consolidated Banking Act and have been identified by the Issuer and the Originators on the basis of the objective criteria agreed by them pursuant to the terms of the relevant Transfer Agreement, such as to assure the economic and juridical homogeneity of the same. (See section entitled “The Receivables”).The principal source of payment of interest and of repayment of principal on the Notes will be collections and recoveries made in respect of the Portfolios purchased by the Issuer pursuant to the terms of the Transfer Agreements. In accordance with the Securitisation Law and subject to the terms and conditions of the Transfer Agreements, the Portfolios will be assigned and transferred to the Issuer without recourse (pro soluto) against the Originator in the case of a failure by any of the Debtor to pay amounts due under the Receivables. Cash Reserve The Issuer established a reserve fund in the Cash Reserve Accountout of the proceeds deriving from the Subordinated Loan granted by the Subordinated Loan Provider for an amount equal to Euro 4,509,000 (the “Cash Reserve Initial Amount”). Retention Holder and Retention Requirements Principal TransactionThereafter, on each Payment Date prior to the delivery of a Trigger Notice or a Termination Notice to (but excluding) the Payment Date on which the Class A Notes are redeemed in full, the Issuer will, in accordance with the Pre-Trigger Notice Priority of Payments, pay into the Cash Reserve Account an amount to bring the balance of such account equal to the Target Cash Reserve Amount.
Excluded Collections means any amounts collected in connection with the Receivables in respect of which the Originators have granted a limited recourse loan pursuant to Clause 6 of the Warranty & Indemnity Agreement (provided that such amounts collected in connection with any such Receivables are excluded from the Issuer Available Funds only up to an amount equivalent to the corresponding limited recourse loan).
Excluded Collections means, so long as FCE is Servicer, in respect of an Assigned Receivable and a Collection Period, all amounts paid by the Borrower relating (i) to fees, expenses or bank charges (other than charges for late payments) that are not included in the calculation of Net Present Value and (ii) all payments of interest and principal in excess of the amount due under the related Loan Agreement, provided, however, for the avoidance of doubt, such amounts will not include principal prepayments or amounts of interest and principal otherwise due and owing under the Loan Agreements, otherwise zero.
Excluded Collections means, in respect of an Assigned Receivable and a Collection Period, any amounts received in respect of Excluded Rights.
Excluded Collections means, with respect to any Excluded Receivable: (a) all funds that are received by any Person in payment of any amounts owed in respect of such Excluded Receivable (including purchase price, finance charges, interest and all other charges), or applied to amounts owed in respect of such Excluded Receivable (including insurance payments and net proceeds of the sale or other disposition of repossessed goods or other collateral or property of any related Obligor or any other Person directly or indirectly liable for the payment of such Excluded Receivable and available to be applied thereon), (b) all proceeds of all related security with respect to such Excluded Receivable and (c) all other proceeds of such Excluded Receivable.