Common use of Administration of Funding Period Reserve Account Clause in Contracts

Administration of Funding Period Reserve Account. The Transferor shall on the Closing Date deposit in the Funding Period Reserve Account an amount which is equal to the product of (a) 0.95%, (b) the Pre-Funded Amount on the Closing Date and (c) a fraction the numerator of which is the actual number of days from and including the Closing Date through but excluding the first day of the November 2001 Monthly Period and the denominator of which is 360. Funds on deposit in the Funding Period Reserve Account (after giving effect to any withdrawals from the Funding Period Reserve Account) shall be invested by the Trustee at the direction of the Servicer in Cash Equivalents maturing no later than the following Transfer Date. The interest and other investment income (net of investment expenses and losses) earned on such investments will be deposited in the Collection Account and treated as Investment Earnings for application as Available Series 2001-3 Finance Charge Collections available to be applied pursuant to subsection 4.9(a) on the last Business Day of the preceding Monthly Period.

Administration of Funding Period Reserve Account. The Transferor shall on the Closing Date deposit in the Funding Period Reserve Account an amount which is equal to the product of (a) 0.950.65%, (b) the Pre-Funded Amount on the Closing Date and (c) a fraction the numerator of which is the actual number of days from and including the Closing Date through but excluding the first day of the November August 2001 Monthly Period and the denominator of which is 360. Funds on deposit in the Funding Period Reserve Account (after giving effect to any withdrawals from the Funding Period Reserve Account) shall be invested by the Trustee at the direction of the Servicer in Cash Equivalents maturing no later than the following Transfer Date. The interest and other investment income (net of investment expenses and losses) earned on such investments will be deposited in the Collection Account and treated as Investment Earnings for application as Available Series 2001-3 2 Finance Charge Collections available to be applied pursuant to subsection 4.9(a) on the last Business Day of the preceding Monthly Period.

Administration of Funding Period Reserve Account. The Transferor shall on the Closing Date deposit in the Funding Period Reserve Account an amount which is equal to the product of (ai) 0.952.00%, (bii) the Pre-Funded Amount on the Closing Date and (ciii) a fraction the numerator of which is the actual number of days from and including the Closing Date through but excluding the first day of the November 2001 December 2004 Monthly Period and the denominator of which is 360. Funds on deposit in the Funding Period Reserve Account (after giving effect to any withdrawals from the Funding Period Reserve Account) shall be invested by the Trustee at the direction of the Servicer in Cash Equivalents maturing no later than the following Transfer Date. The interest and other investment income (net of investment expenses and losses) earned on such investments will be deposited in the Collection Account and treated as Investment Earnings for application as Available Series 20012004-3 2 Finance Charge Collections available to be applied pursuant to subsection 4.9(a) on the last Business Day of the preceding Monthly Period.

Administration of Funding Period Reserve Account. The Transferor shall on the Closing Date deposit in the Funding Period Reserve Account an amount which is equal to the product of (a) 0.95%, (b) the Pre-Funded Amount on the Closing Date and (c) a fraction the numerator of which is the actual number of days from and including the Closing Date through but excluding the first day of the November 2001 January 2002 Monthly Period and the denominator of which is 360. Funds on deposit in the Funding Period Reserve Account (after giving effect to any withdrawals from the Funding Period Reserve Account) shall be invested by the Trustee at the direction of the Servicer in Cash Equivalents maturing no later than the following Transfer Date. The interest and other investment income (net of investment expenses and losses) earned on such investments will be deposited in the Collection Account and treated as Investment Earnings for application as Available Series 2001-3 4 Finance Charge Collections available to be applied pursuant to subsection 4.9(a) on the last Business Day of the preceding Monthly Period.