Distributions on Settlement Date

Example Definitions of "Distributions on Settlement Date"
Distributions on Settlement Date. The Servicer shall cause all Collections to be deposited into the Collection Account within five (5) Business Days of receipt of the same by the SPV, the Originator or the Servicer. Such Collections shall be distributed in accordance with Section 2.16(b) below. Any Excluded Amounts that were deposited into the Collection Account shall be removed from the Collection Account on each Settlement Date prior to the application of Collections pursuant to Section 2.16(b) below.
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