Examples of Pool Receivables in a sentence
The servicing, administration and collection of the Pool Receivables shall be conducted by a Person (the “Servicer”) so designated from time to time in accordance with this Section 8.1. HECO is hereby designated as, and xxxxxx agrees to perform the duties and obligations of, the Servicer pursuant to the terms of this Agreement.
The Servicer shall also be entitled to receive on each Interest Payment Date all of the Servicer’s reasonable and documented out-of-pocket costs and expenses in connection with servicing, administering and collecting the Pool Receivables (“Servicing Expenses”).
The Originators shall not instruct or permit any payments other than payments in respect of Pool Receivables and Related Assets to be made to any Intermediate Account or Borrower Controlled Account (except, with respect to any Borrower Controlled Account, amounts payable to such Borrower (including for purposes of on-payment to the Administrative Agent, the Lenders or as otherwise permitted under the Loan Documents)).
The Seller shall not instruct or permit any payments other than payments in respect of Pool Receivables and Related Assets to be made to any Intermediate Account or Buyer Controlled Account (except, with respect to any Buyer Controlled Account, amounts payable to Buyer (including for purposes of on-payment to the Administrative Agent, the Lenders or as otherwise permitted under the Loan Documents).
Each Originator will instruct all Account Debtors in respect of Subject Receivables to deliver payments on the Pool Receivables to an Intermediate Account or a Borrower Controlled Account.