Common use of Administration of the Finance Charge and Principal Accounts Clause in Contracts

Administration of the Finance Charge and Principal Accounts. Funds credited to the Principal Account and the Finance Charge Account shall at all times be invested in Permitted Investments. Any such investment shall mature and such funds shall be available for withdrawal on or prior to the Transfer Date related to the Monthly Period in which such funds were processed for collection, or if so specified in the related Supplement, immediately preceding a Distribution Date. The Trustee shall: (i) credit each Permitted Investment that is a security entitlement to the Principal Account or the Finance Charge Account, as applicable, under a control agreement that (A) is executed by the Trustee, the Transferor, and the securities intermediary maintaining the Principal Account or the Finance Charge Account, as applicable, and (B) provides that (I) the Principal Account or the Finance Charge Account, as applicable, is an account to which financial assets may be credited, (II) the Trustee is entitled to exercise the rights that comprise all financial assets credited to the Principal Account or the Finance Charge Account, as applicable, (III) each item of property credited to the Principal Account or the Finance Charge Account, as applicable, will be treated as a financial asset, (IV) the securities intermediary must comply with entitlement orders originated by the Trustee without further consent by the Transferor, the Servicer, or any other Person, (V) the securities intermediary’s jurisdiction of the securities intermediary is the State of New York for purposes of the Uniform Commercial Code enacted in any jurisdiction, and (VI) the Principal Account or the Finance Charge Account, as applicable, is not subject to any security interest, lien, encumbrance, or right of setoff in favor of the securities intermediary or any other Person claiming through the securities intermediary, other than the Trustee; (ii) maintain exclusive control or possession of each other Permitted Investment not described in clause (i) above (other than such as are described in clause (c) of the definition thereof); and (iii) cause each Permitted Investment described in clause (c) of the definition thereof to be registered in the name of the Trustee by the issuer thereof; provided, that no Permitted Investment shall be disposed of prior to its maturity date. Terms used in this subsection 4.02(e) that are defined in the New York UCC and not otherwise defined herein shall have the meaning set forth in the New York UCC. At the end of each month, all interest and earnings (net of losses and investment expenses) on funds credited to in the Principal Account and the Finance Charge Account shall be released by the Trustee to the Transferor. Subject to the restrictions set forth above, the Servicer, or a Person designated in writing by the Servicer, of which the Trustee shall have received written notification thereof, shall have the authority to instruct the Trustee with respect to the investment of funds credited to in the Principal Account and the Finance Charge Account. For purposes of determining the availability of funds or the balances in the Finance Charge Account and the Principal Account for any reason under this Agreement, all investment earnings on such funds shall be deemed not to be available.

Administration of the Finance Charge and Principal Accounts. Funds credited to on deposit in the Principal Account and the Finance Charge Account Account, subject to receipt by the Trustee of written investment directions, shall at all times be invested in Permitted Investments. Any such investment shall mature and such funds shall be available for withdrawal on or prior to the Transfer Date related to the Monthly Period in which such funds were processed for collection, or if so specified in the related Supplement, immediately preceding a Distribution Date and shall remain uninvested to the extent required for distribution on such Distribution Date. The Trustee shall: (i) credit each Permitted Investment that is a security entitlement to shall maintain for the Principal Account or the Finance Charge Account, as applicable, under a control agreement that (A) is executed by the Trustee, the Transferor, and the securities intermediary maintaining the Principal Account or the Finance Charge Account, as applicable, and (B) provides that (I) the Principal Account or the Finance Charge Account, as applicable, is an account to which financial assets may be credited, (II) the Trustee is entitled to exercise the rights that comprise all financial assets credited to the Principal Account or the Finance Charge Account, as applicable, (III) each item of property credited to the Principal Account or the Finance Charge Account, as applicable, will be treated as a financial asset, (IV) the securities intermediary must comply with entitlement orders originated by the Trustee without further consent by the Transferor, the Servicer, or any other Person, (V) the securities intermediary’s jurisdiction benefit of the securities intermediary is the State of New York for purposes Investor Certificateholders and each Credit Enhancement Provider (as each’s interests may appear herein or in a related Supplement) possession of the Uniform Commercial Code enacted in any jurisdiction, and (VI) negotiable instruments or securities evidencing the Principal Account or the Finance Charge Account, as applicable, is not subject to any security interest, lien, encumbrance, or right of setoff in favor of the securities intermediary or any other Person claiming through the securities intermediary, other than the Trustee; (ii) maintain exclusive control or possession of each other Permitted Investment not Investments described in clause (i) above (other than such as are described in clause (c) of the definition thereof); and (iii) cause each Permitted Investment described in clause (ca) of the definition thereof to be registered in from the name time of purchase thereof until the Trustee by the issuer thereoftime of sale or maturity; provided, that no Permitted Investment such investment shall be disposed of prior to its maturity date. Terms used in this subsection 4.02(e) that are defined in the New York UCC and not otherwise defined herein shall have the meaning set forth in the New York UCC. At the end of each month, all interest and earnings (net of losses and investment expenses) on funds credited to on deposit in the Principal Account and the Finance Charge Account shall be released deposited by the Trustee in a separate deposit account with a Qualified Institution in the name of the Servicer, or a Person designated in writing by the Servicer, which shall not constitute a part of the Trust, or shall otherwise be turned over by the Trustee to the TransferorServicer not less frequently than monthly. Subject to the restrictions set forth above, the Servicer, or a Person designated in writing by the Servicer, of which the Trustee shall have received written notification thereof, shall have the authority to instruct the Trustee with respect to the investment of funds credited to on deposit in the Principal Account and the Finance Charge Account. For purposes of determining the availability of funds or the balances in the Finance Charge Account and the Principal Account for any reason under this Agreement, all investment earnings on such funds shall be deemed not to be availableavailable or on deposit.

Administration of the Finance Charge and Principal Accounts. Funds credited to on deposit in the Principal Account and the Finance Charge Account shall at all times be invested in Permitted Investments. Any such investment shall mature and such funds shall be available for withdrawal on or prior to the Transfer Date related to the Monthly Period in which such funds were processed for collection, or if so specified in the related Supplement, immediately preceding a Distribution Date. The Trustee shall: (i) credit hold each Permitted Investment (other than such as are described in clause (c) of the definition thereof) that is constitutes investment property through a security entitlement to the Principal Account or the Finance Charge Accountsecurities intermediary, as applicable, under a control agreement that (A) is executed by the Trustee, the Transferor, and the which securities intermediary maintaining shall agree with the Principal Account or the Finance Charge Account, as applicable, and (B) provides Trustee that (I) such investment property shall at all times be credited to a securities account of the Principal Account or the Finance Charge Account, as applicable, is an account to which financial assets may be creditedTrustee, (II) such securities intermediary shall comply with entitlement orders originated by the Trustee is entitled to exercise without the rights that comprise all financial assets credited to the Principal Account further consent of any other person or the Finance Charge Account, as applicableentity, (III) each item of all property credited to the Principal Account or the Finance Charge Account, as applicable, will such securities account shall be treated as a financial asset, (IV) the such securities intermediary must comply with entitlement orders originated by the Trustee without further consent by the Transferorshall waive any lien on, the Servicersecurity interest in, or right of set-off with respect to any other Personproperty credited to such securities account, and (V) such agreement shall be governed by the securities intermediary’s jurisdiction laws of the securities intermediary is the State of New York for purposes of the Uniform Commercial Code enacted in any jurisdiction, and (VI) the Principal Account or the Finance Charge Account, as applicable, is not subject to any security interest, lien, encumbrance, or right of setoff in favor of the securities intermediary or any other Person claiming through the securities intermediary, other than the TrusteeYork; (ii) maintain exclusive control or possession of each other Permitted Investment not described in clause (i) above (other than such as are described in clause (c) of the definition thereof); and (iii) cause each Permitted Investment described in clause (c) of the definition thereof to be registered in the name of the Trustee by the issuer thereof; provided, that no Permitted Investment shall be disposed of prior to its maturity date. Terms used in this subsection 4.02(eclause (i) above that are defined in the New York UCC and not otherwise defined herein shall have the meaning set forth in the New York UCC. At the end of each month, all interest and earnings (net of losses and investment expenses) on funds credited to on deposit in the Principal Account and the Finance Charge Account shall be released deposited by the Trustee in a separate deposit account with a Qualified Institution in the name of the Servicer, or a Person designated in writing by the Servicer, which shall not constitute a part of the Trust, or shall otherwise be turned over by the Trustee to the TransferorServicer not less frequently than monthly. Subject to the restrictions set forth above, the Servicer, or a Person designated in writing by the Servicer, of which the Trustee shall have received written notification thereof, shall have the authority to instruct the Trustee with respect to the investment of funds credited to on deposit in the Principal Account and the Finance Charge Account. For purposes of determining the availability of funds or the balances in the Finance Charge Account and the Principal Account for any reason under this Agreement, all investment earnings on such funds shall be deemed not to be availableavailable or on deposit.

Administration of the Finance Charge and Principal Accounts. Funds credited to on deposit in the Principal Account and the Finance Charge Account that are not both deposited and to be withdrawn on the same date shall at all times be invested in Permitted Investments. Any such investment shall mature and such funds shall be available for withdrawal on or prior to the Series Transfer Date related to the Monthly Period in which such funds were processed for collectionreceived or deposited, or if so specified in the related Series Supplement, immediately preceding a Distribution Payment Date. The Trustee shall: : (i) credit hold each Permitted Investment (other than such as are described in clause (c) of the definition thereof) that is constitutes investment property through a security entitlement to the Principal Account or the Finance Charge Accountsecurities intermediary, as applicable, under a control agreement that (A) is executed by the Trustee, the Transferor, and the which securities intermediary maintaining the Principal Account or the Finance Charge Account, as applicable, and (B) provides that shall (I) agree that such investment property shall at all times be credited to a securities account of which the Principal Account or Trustee is the Finance Charge Account, as applicable, is an account to which financial assets may be creditedentitlement holder, (II) comply with entitlement orders originated by the Trustee is entitled to exercise without the rights that comprise all financial assets credited to the Principal Account further consent of any other person or the Finance Charge Account, as applicableentity, (III) each item of agree that all property credited to the Principal Account or the Finance Charge Account, as applicable, will such securities account shall be treated as a financial asset, (IV) the securities intermediary must comply with entitlement orders originated by the Trustee without further consent by the Transferorwaive any lien on, the Servicersecurity interest in, or right of set-off with respect to any other Personproperty credited to such securities account, and (V) the securities intermediary’s agree that its jurisdiction for purposes of Section 8-110 and Section 9-305(a)(3) of the securities intermediary is UCC shall be New York, and that such agreement shall be governed by the laws of the State of New York for purposes of the Uniform Commercial Code enacted in any jurisdiction, York; and (VI) the Principal Account or the Finance Charge Account, as applicable, is not subject to any security interest, lien, encumbrance, or right of setoff in favor of the securities intermediary or any other Person claiming through the securities intermediary, other than the Trustee; (ii) maintain exclusive for the benefit of the Secured Parties, possession or control or possession of each other Permitted Investment (including any negotiable instruments, if any, evidencing such Permitted Investments) not described in clause (i) above (other than such as are described in clause (c) of the definition thereof); and (iii) cause each Permitted Investment described in clause (c) of the definition thereof to be registered in the name of the Trustee by the issuer thereof; provided, provided that no Permitted Investment shall be disposed of prior to its maturity datedate if such disposition would result in a loss. Terms used in this subsection 4.02(eclause (i) above that are defined in the New York UCC and not otherwise defined herein shall have the meaning set forth in the New York UCC. At the end of each month, all interest and earnings (net of losses and investment expenses) on funds credited to on deposit in the Principal Account and the Finance Charge Account shall be released by deposited in the Trustee Collection Account and treated as Investment Earnings. If at the end of a month losses and investment expenses on funds on deposit in either of the Principal Account and the Finance Charge Account exceed interest and earnings on such funds during such month, losses and expenses to the Transferorextent of such excess will be allocated, with respect to any Series, among the Noteholders of such Series and the Issuer as provided in the related Series Supplement. Subject to the restrictions set forth above, the ServicerIssuer, or a Person designated in writing by the ServicerHolder of the Issuer Interest, of which the Trustee shall have received written notification thereof, shall have the authority to instruct the Trustee with respect to the investment of funds credited to on deposit in the Principal Account and the Finance Charge Account. For purposes of determining the availability of funds or the balances in the Finance Charge Account and the Principal Account for any reason under this Agreement, all investment earnings on such funds shall be deemed not to be available.

Administration of the Finance Charge and Principal Accounts. Funds credited to the Principal Account and the Finance Charge Account shall at all times be invested in Permitted Investments. Any such investment shall mature and such funds shall be available for withdrawal on or prior to the Transfer Date related to the Monthly Period in which such funds were processed for collection, or if so specified in the related Supplement, immediately preceding a Distribution Date. The Trustee shall: (i) credit each Permitted Investment that is a security entitlement to the Principal Account or the Finance Charge Account, as applicable, under a control agreement that (A) is executed by the Trustee, the Transferor, and the securities intermediary maintaining the Principal Account or the Finance Charge Account, as applicable, and (B) provides that (I) the Principal Account or the Finance Charge Account, as applicable, is an account to which financial assets may be credited, (II) the Trustee is entitled to exercise the rights that comprise all financial assets credited to the Principal Account or the Finance Charge Account, as applicable, (III) each item of property credited to the Principal Account or the Finance Charge Account, as applicable, will be treated as a financial asset, (IV) the securities intermediary must comply with entitlement orders originated by the Trustee without further consent by the Transferor, the Servicer, or any other Person, (V) the securities intermediary’s 's jurisdiction of the securities intermediary is the State of New York for purposes of the Uniform Commercial Code enacted in any jurisdiction, and (VI) the Principal Account or the Finance Charge Account, as applicable, is not subject to any security interest, lien, encumbrance, or right of setoff in favor of the securities intermediary or any other Person claiming through the securities intermediary, other than the Trustee; (ii) maintain exclusive control or possession of each other Permitted Investment not described in clause (i) above (other than such as are described in clause (c) of the definition thereof); and (iii) cause each Permitted Investment described in clause (c) of the definition thereof to be registered in the name of the Trustee by the issuer thereof; provided, that no Permitted Investment shall be disposed of prior to its maturity date. Terms used in this subsection 4.02(e) that are defined in the New York UCC and not otherwise defined herein shall have the meaning set forth in the New York UCC. At the end of each month, all interest and earnings (net of losses and investment expenses) on funds credited to in the Principal Account and the Finance Charge Account shall be released by the Trustee to the Transferor. Subject to the restrictions set forth above, the Servicer, or a Person designated in writing by the Servicer, of which the Trustee shall have received written notification thereof, shall have the authority to instruct the Trustee with respect to the investment of funds credited to in the Principal Account and the Finance Charge Account. For purposes of determining the availability of funds or the balances in the Finance Charge Account and the Principal Account for any reason under this Agreement, all investment earnings on such funds shall be deemed not to be available.