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Claims Procedure
Claims Procedure contract clause examples

The Master Servicer shall deposit into the Administrative Agent’s account, on each Business Day selected by the SPV for a reduction of the Net Investment under [Section 2.13], the amount of Collections held for the Administrative Agent pursuant to [Section 2.12(a)(ii)].

SECTION # Collections Held in Trust. So long as the SPV or the Master Servicer shall hold any Collections or Deemed Collections then or thereafter required to be paid by the SPV to the Master Servicer or by the SPV or the Master Servicer to the Administrative Agent, it shall hold such Collections in trust, and, if requested by the Administrative Agent after the occurrence and during the continuance of a Termination Event or Potential Termination Event (if such Potential Termination Event is not capable of being cured), shall deposit such Collections within one Business Day of receipt thereof into the Collection Account. The Net Investment shall not be deemed reduced by any amount held in trust by the Master Servicer or in the Collection Account pursuant to [Section 2.12] unless and until, and then only to the extent that, such amount is finally paid to the Administrative Agent in accordance with [Section 2.12(c)].

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