Common use of Deposits into the Collection Account Clause in Contracts

Deposits into the Collection Account. (a) Not later than the second Business Day following the completion of each Billing Cycle in which the Addition Date occurs, the Servicer shall deposit into the Collection Account any amounts received from the Obligors relating to the Additional Accounts to which such Billing Cycle relates during such Billing Cycle to the extent not so deposited pursuant to subsection 3(b) below and Article IV of the Agreement.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Peoples Bank Credit Card Master Trust), Pooling and Servicing Agreement (Peoples Bank), Pooling and Servicing Agreement (Peoples Bank Credit Card Master Trust)

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