Excess Spread; Excess Finance Charge Collections Sample Clauses

Excess Spread; Excess Finance Charge Collections. The Servicer shall apply, or shall cause the Trustee to apply by written instruction to the Trustee, on each Distribution Date, Excess Spread and Excess Finance Charge Collections allocated to Series 1997-1 with respect to the related Monthly Period, to make the following distributions or deposits in the following order of priority:
Sample 1Sample 2Sample 3See All (160)
AutoNDA by SimpleDocs
Excess Spread; Excess Finance Charge Collections. The Servicer shall apply, or shall cause the Trustee to apply, on each Distribution Date, Excess Spread and Excess Finance Charge Collections allocated to Series 2000-1 with respect to the related Monthly Period, to make the following distributions in the following order of priority:
Sample 1Sample 2See All (11)
Excess Spread; Excess Finance Charge Collections. The Servicer shall apply, or shall cause the Trustee to apply by written instruction to the Trustee, on each Distribution Date, Excess Spread and Excess Finance Charge Collections allocated to Series 1998-2 with respect to the related Monthly Period, to make the following distributions or deposits in the following order of priority: (a) an amount equal to the Class A Required Amount, if any, with respect to such Monthly Period shall be distributed by the Trustee to fund any deficiencies in the Class A Required Amount in accordance with, and in the priority set forth in, subsections 4.5(a)(i), (ii) and (iii); (b) an amount equal to the aggregate amount of Class A Charge- Offs which have not been previously reimbursed shall be treated as a portion of Available Principal Collections for such Distribution Date; (c) an amount equal to the Class B Required Amount, if any, with respect to such Distribution Date shall be (I) used to fund any deficiencies in the Class B Required Amount in accordance with, and in the priority set forth in, subsections 4.5(b)(i) and (ii) and then (II) treated, up to the Class B Default Amount, as a portion of Available Principal Collections for such Distribution Date; (d) an amount equal to the difference, if any, between (x) the sum of (A) the product of (i) a fraction, the numerator of which is equal to the actual number of days in the Interest Period preceding such Distribution Date (or in the case of the first Distribution Date, the Closing Date) and the denominator of which is 360, (ii) the Class B Interest Rate and (iii) the outstanding principal balance of the Class B Securities as of the close of business on the last day of the preceding Monthly Period, and (B) any amount in respect of the foregoing clause (A) previously due but not distributed to the Class B Securityholders on a prior Distribution Date, and (y) the amount distributed to the Paying Agent for payment to the Class B Securityholders pursuant to subsection 4.5(b)(i); (e) an amount equal to the aggregate amount by which the Class B Invested Amount has been reduced pursuant to clauses (c), (d) and (e) of the definition of "Class B Invested Amount" in Section 2.1 of this Supplement (but not in excess of the aggregate amount of such reductions which have not been previously reimbursed) shall be treated as a portion of Available Principal Collections for such Distribution Date; (f) an amount equal to the excess, if any, of the sum of the Monthly Servicing Fee for such...
Sample 1

Related to Excess Spread; Excess Finance Charge Collections

  • Excess Finance Charge Collections Series 2017-5 shall be an Excess Allocation Series. Subject to Section 4.05 of the Agreement, Excess Finance Charge Collections with respect to the Excess Allocation Series for any Distribution Date will be allocated to Series 2017-5 in an amount equal to the product of (x) the aggregate amount of Excess Finance Charge Collections with respect to all the Excess Allocation Series for such Distribution Date and (y) a fraction, the numerator of which is the Finance Charge Shortfall for Series 2017-5 for such Distribution Date and the denominator of which is the aggregate amount of Finance Charge Shortfalls for all the Excess Allocation Series for such Distribution Date. The “Finance Charge Shortfall” for Series 2017-5 for any Distribution Date will be equal to the excess, if any, of (a) the full amount required to be paid, without duplication, pursuant to subsections 4.05(a), 4.05(b) and 4.05(c) and subsections 4.07(a) through (j) on such Distribution Date and the full amount required to be paid, without duplication, pursuant to subsections 3.02(a)(iii) and 3.02(a)(iv) of the Transfer Agreement on the related Payment Date (as such term is defined in the Transfer Agreement) over (b) the sum of (i) the Reallocated Investor Finance Charge Collections, (ii) if such Monthly Period relates to a Distribution Date with respect to the Controlled Accumulation Period or Early Amortization Period, the amount of Principal Funding Account Investment Proceeds, if any, with respect to such Distribution Date and (iii) the amount of funds, if any, to be withdrawn from the Reserve Account which, pursuant to subsection 4.12(d), are required to be included in Class A Available Funds with respect to such Distribution Date. The amount of Excess Finance Charge Collections for Series 2017-5 for any Distribution Date shall be specified in subsection 3.02(a)(v) of the Transfer Agreement. On each Distribution Date, the Trustee shall deposit into the Collection Account for application in accordance with Section 4.05 of the Agreement the aggregate amount of Excess Finance Charge Collections received by the Trustee pursuant to the Transfer Agreement on such date.

  • Reallocated Investor Finance Charge Collections (a) That portion of Group I Investor Finance Charge Collections for any Transfer Date equal to the amount of Reallocated Investor Finance Charge Collections for such Transfer Date will be allocated to Series 1997-1 and will be distributed as set forth in this Supplement.

  • Allocations of Finance Charge Collections The Servicer shall allocate to the Series 1997-1 Certificateholders and retain in the Collection Account for application as provided herein an amount equal to the product of (A) the Floating Allocation Percentage and (B) the Series 1997-1 Allocation Percentage and (C) the aggregate amount of Collections of Finance Charge Receivables deposited in the Collection Account on such Deposit Date.

  • Reallocated Principal Collections On each Distribution Date, the Servicer shall apply, or shall cause the Trustee to apply by written instruction to the Trustee substantially in the form of Exhibit B, Reallocated Principal Collections with respect to such Distribution Date, to make the following distributions or deposits in the following order of priority:

  • Shared Principal Collections Subject to Section 4.04 of the Agreement, Shared Principal Collections for any Distribution Date will be allocated to Series 1999-3 in an amount equal to the product of (x) the aggregate amount of Shared Principal Collections with respect to all Principal Sharing Series for such Distribution Date and (y) a fraction, the numerator of which is the Series 1999-3 Principal Shortfall for such Distribution Date and the denominator of which is the aggregate amount of Principal Shortfalls for all the Series which are Principal Sharing Series for such Distribution Date. The "Principal Shortfalls" for Series 1999-3 will be equal to for any Distribution Date with respect to (a) the Revolving Period, zero; (b) the Limited Amortization Period, the excess, if any, of the Limited Amortization Amount not previously distributed over the amount of Available Principal Collections for such Distribution Date (excluding any portion thereof attributable to Shared Principal Collections), and (c) the Scheduled Amortization Period or the Early Amortization Period, the excess, if any, of the Invested Amount over the amount of Available Principal Collections for such Distribution Date (excluding any portion thereof attributable to Shared Principal Collections).

  • Available Funds $ 1,935,860.15 ---------------

Time is Money Join Law Insider Premium to draft better contracts faster.