Examples of Principal Collections in a sentence
Amounts received by the Borrower pursuant to Section 2.07 on account of Loan Assets shall be treated as payments of Principal Collections or Interest Collections, as applicable, on Loan Assets hereunder.
It is understood and agreed that the Servicer shall remain liable for the proper allocation of the aforementioned Interest Collections and Principal Collections into the appropriate accounts.
The Collection Account is the only account to which Obligors, agent banks or administrative agents on the Loan Assets have been instructed by the Servicer on the Borrower's behalf to send Principal Collections and Interest Collections on the Collateral.
As of any date of determination, the Servicer (or, after delivery of a Notice of Exclusive Control (and prior to any rescission of such Notice of Exclusive Control), the Administrative Agent) may cause any amounts on deposit in the Unfunded Exposure Account that exceed the Unfunded Exposure Equity Amount to be deposited into the Principal Collection Subaccount as Principal Collections.
Upon the transfer of Available Collections to the Collection Account and applicable direction from the Collateral Administrator, the Collateral Agent shall segregate Principal Collections and Interest Collections and transfer the same to the Principal Collection Account and the Interest Collection Account, respectively.