Fee Collections definition
Examples of Fee Collections in a sentence
The Seller Monthly Servicing Fee for any month is payable on the 2nd Business Day following the Purchaser’s receipt of the Servicing Fee Collections for such month from the Seller pursuant to Section 2.5 hereof (and any delay in payment shall affect the calculation of the Targeted Return).
Class R Certificateholders are entitled to receive certain distributions from the Series Distributable Amount, certain amounts released from the Reserve Account and certain Prepayment Fee Collections, as further provided in the Trust Agreement and related supplement.
The Class R Certificates shall be entitled to receive distributions as provided in Section 8 hereof, along with (a) amounts released from the Reserve Account to the extent provided in Section 5.03(d) of the Trust Agreement (as modified by Section 2 of this Supplement) and (b) Prepayment Fee Collections to the extent provided in Section 5.01(f)(v) of the Trust Agreement.
Except as otherwise provided below, the Servicer shall transfer all Pool Collections, Fee Collections and other Pledged Assets consisting of cash or cash equivalents from the Lockbox Accounts into the Collection Account as promptly as possible after the date of receipt of such Pool Collections or Fee Collections.
Investments of funds representing Pool Collections and Fee Collections collected during any Monthly Period shall be invested in Eligible Investments that will mature so that such funds will be available no later than the close of business on the day preceding the monthly Distribution Date following such Monthly Period, in amounts sufficient to the extent of such funds to make the required distributions on such Distribution Date.
The Servicer shall contact the Employer if necessary to obtain such directions, or if such directions cannot be obtained, the Servicer shall apply Fee Collections of such Employer in the order that such Fee Receivables were originated, with the oldest Fee Receivable being paid first.
The Servicer will maintain at all times accurate and complete books, records and accounts relating to the Pledged Assets and all Pool Collections and Fee Collections thereon in which timely entries will be made.
The Servicing Fee shall be payable solely out of Pool Collections and Fee Collections available for such purpose pursuant to, and subject to the priority of payments set forth in, the Indenture.
If the Servicer or any of its agents or representatives at any time receives any cash, checks or other instruments constituting Pool Collections or Fee Collections, such recipient will segregate and hold such payments in trust for, and in a manner acceptable to, the Issuer and will, promptly upon receipt, remit all such cash, checks and instruments, duly endorsed or with duly executed instruments of transfer, to a Lockbox Account or the Collection Account.
The Servicer will direct all Obligors with respect to any receivables and related assets that are not included in the Pledged Assets to deposit all collections in respect of such receivables and related assets to an account that is not a Lockbox or Lockbox Account and will take such other steps as the Issuer reasonably may request to ensure that all collections on such receivables and related assets will be segregated from Pool Collections and Fee Collections on Pledged Assets.