Distribution and Application of Collections. The Collection Agent shall set aside and segregate funds to the extent required in this Agreement and the Loan Agreement and shall set aside and segregate all Collections of Receivables from the other funds belonging to the Collection Agent. The Collection Agent shall as soon as practicable (and in any event within two Business Days) following receipt turn over to the Transferor or other Person entitled thereto the collections of any account receivable which is not a Transferred Property less, in the event neither Professional Services nor an Affiliate thereof is the Collection Agent, all reasonable and appropriate out-of-pocket costs and expenses of the Collection Agent of servicing, collecting and administering the Receivables to the extent not covered by the Servicing Fee received by it.
Distribution and Application of Collections. The Collection Agent shall set aside the Collections of Receivables in accordance with Sections 2.07. The Collection Agent shall as soon as practicable (and in any event within two Business Days) following receipt turn over to the Borrower or other Person entitled thereto the Collections of any Receivable which is not a Pledged Receivable less, in the event neither Professional Services nor an Affiliate thereof is the Collection Agent, all reasonable and appropriate out-of-pocket costs and expenses of the Collection Agent of servicing, collecting and administering the Receivables to the extent not covered by the Servicing Fee received by it.
Distribution and Application of Collections. The Servicer shall set aside on its books for the account of the Seller and each Owner their respective allocable shares of the Collections of Receivables in accordance with Sections 2.05, 2.06, 2.07 and 2.08; provided, however, that if required by Section 2.05, 2.06 or 2.07 or otherwise instructed by the Agent following a Transition Event, the Servicer shall segregate such Collections in accordance with Section 6.04. The Servicer shall as soon as practicable following receipt turn over to the Seller the collections of any receivable or other indebtedness owing to the Seller which is not a Receivable, less, in the event the Seller is not the Servicer, all reasonable and appropriate out-of-pocket costs and expenses of such Servicer of servicing, collecting and administering any such receivable or other indebtedness to the extent not covered by the Servicing Fee received by it. Any payment by an Obligor in respect of any indebtedness owed by it to the Seller shall, except as otherwise specified by such Obligor or otherwise required by contract or law or by instruction of the Agent, be applied as a Collection of any Receivable of such Obligor (in the order of the age of such Receivables, starting with the oldest such Receivable) to the extent of any amounts then due and payable thereunder before being applied to any other receivable or other indebtedness (other than a Receivable) of such Obligor.
Distribution and Application of Collections. The Collection Agent shall set aside for the account of the Seller and the Purchaser their respective allocable shares of the Collections of Receivables in accordance with Sections 2.05 and 2.06. The Collection Agent shall as soon as practicable following receipt turn over to the Seller the Collections of any Receivable which is not a Purchased Receivable less, in the event neither Synthetic nor an Affiliate thereof is the Collection Agent, all reasonable and appropriate out-of-pocket costs and expenses of such Collection Agent of servicing, collecting and administering the Receivables to the extent not covered by the Collection Agent Fee received by it.
Distribution and Application of Collections. The Servicer shall set aside for the account of the Seller and the Purchaser their respective allocable shares of the Collections of Receivables in accordance with SECTION 2.04. The Servicer shall as soon as practicable following receipt turn over to the Seller the Collections of any Receivable which is not a Purchased Receivable less, in the event neither Superior nor an Affiliate thereof is the Servicer, all reasonable and appropriate out-of-pocket costs and expenses of such Servicer of servicing, collecting and administering the Receivables to the extent not covered by the Servicer Fee received by it.
Distribution and Application of Collections. The Servicer shall set aside and segregate funds to the extent required in the Receivables Purchase Agreement and shall be required to segregate all Collections on the Receivables from the other funds belonging to the Servicer. The Servicer shall as soon as practicable following receipt turn over to the applicable Originator the Collections of any Receivable which is not a Transferred Asset less, in the event neither OutSource International, an Originator nor an Affiliate thereof is the Servicer, all reasonable and appropriate out-of-pocket costs and expenses of such Servicer of servicing, collecting and administering the Receivables to the extent not covered by the Servicer Fee received by it.
Distribution and Application of Collections. (a) ------------------------------------------- Principal Collections. Principal Collections on Purchased Receivables shall be --------------------- payable to the Purchasers up to the amount of the Outstanding Purchase Price from time to time as specified herein. On each Settlement Date during the Revolving Period (i) Principal Collections received during the prior Settlement Period that are allocable to Purchased Receivables in which a Seller's Interest has been created pursuant to subsections 2.6 or 2.6A shall be paid 25% to the Seller in respect of such Seller's Interest, with the remaining 75% of such Principal Collections allocated together with all other Principal Collections in accordance with clause (ii) hereof and (ii) Principal Collections received during the prior Settlement Period and not allocated to the Seller pursuant to clause (i) hereof shall be first, applied to the aggregate Purchase Price of ----- Eligible Receivables purchased on such Settlement Date in accordance with the terms and conditions of this Agreement and second, paid to the Purchasers on ------ such Settlement Date and applied in respect of the Outstanding Purchase Price. On each Settlement Date during the Amortization Period, Principal Collections received during the prior Settlement Period shall be paid to the Purchasers on such Settlement Date and applied in respect of the Outstanding Purchase Price. Following an Amortization Event, Principal Collections on account of the Purchase Discount applied to the Purchase Price of Receivables purchased during a Discount Event may, at the discretion of the Managing Facility Agent, be deemed Finance Charge Collections available to be distributed pursuant to subsections 2.16(b)(ii) and (b)(iii).
Distribution and Application of Collections
