Common use of Allocated Ineligible Collections Clause in Contracts

Allocated Ineligible Collections. If from time to time payments of monies into the Trustee Collection Account representing Ineligible Collections are incorrectly deemed to be Principal Collections in respect of Eligible Receivables such monies may be allocated as such in accordance with this Deed (as amended by any Supplement) ("Allocated Ineligible Collections") unless prior to such allocation the Receivables Trustee is notified by the Servicer that such monies are Ineligible Collections. Notwithstanding the above, promptly following the notification to the Receivables Trustee by the Servicer that Allocated Ineligible Collections have been so allocated as Principal Collections in respect of Eligible Receivables, the Receivables Trustee shall: (i) apply Trust Property in a manner consistent with the principles set out in this Deed (as amended by any Supplement) to re-apply such Allocated Ineligible Collections correctly; and (ii) amend its books of account to record that (A) the Ineligible Receivables Pool has been decreased by the amount of Allocated Ineligible Collections previously incorrectly allocated as Principal Collections and the Eligible Receivables Pool has been increased by the same amount and (B) the Transferor Ineligible Interest has been decreased by the same amount so subtracted from the Ineligible Receivables Pool and the Transferor Interest has been increased by the amount so added to the Eligible Receivables Pool, and the recording of the entitlement of the Beneficiaries to Trust Property shall be affected accordingly.

Allocated Ineligible Collections. If from time to time payments of monies into the Receivables Trustee Collection Account representing Ineligible Collections are incorrectly deemed to be Principal Collections in respect of Eligible Receivables such monies may be and incorrectly allocated as such in accordance with this Deed (as amended by any Supplement) ("Allocated Ineligible Collections") unless prior to such allocation the Receivables Trustee is notified by the Servicer that such monies are Ineligible Collections. Notwithstanding the above), then promptly following the notification to the Receivables Trustee by the Servicer that Allocated Ineligible Collections have been so allocated as Principal Collections in respect of Eligible Receivables, the Receivables Trustee shall: (i) apply Trust Property in a manner consistent with the principles set out in this Deed (as amended by any Supplement) to re-apply such Allocated Ineligible Collections correctly; and (ii) amend its books of account to record that (A) the Ineligible Receivables Pool has been decreased by the amount of Allocated Ineligible Collections previously incorrectly allocated as Principal Collections and the Eligible Receivables Pool has been increased by the same amount and (B) the Transferor Ineligible Interest has been decreased by the same amount so subtracted from the Ineligible Receivables Pool Ineligibles Bare Trust Property and the Transferor Interest has been increased by the amount so added to the Eligible Receivables Pool, and the recording of the entitlement of the Beneficiaries to Trust Property shall be affected accordingly.

Allocated Ineligible Collections. If from time to time payments of monies into the Trustee Collection Account representing Ineligible Collections are incorrectly deemed to be Principal Collections in respect of Eligible Receivables such monies may be allocated as such in accordance with this Deed (as amended by any Trust Supplement) ("Allocated Ineligible Collections") unless prior to such allocation the Receivables Trustee is notified by the Servicer that such monies are Ineligible Collections (Allocated Ineligible Collections). Notwithstanding the above, promptly following the notification to the Receivables Trustee by the Servicer that Allocated Ineligible Collections have been so allocated as Principal Collections in respect of Eligible Receivables, the Receivables Trustee shall: (i) apply Trust Property in a manner consistent with the principles set out in this Deed (as amended by any Trust Supplement) to re-apply such Allocated Ineligible Collections correctly; and (ii) amend its books of account to record that (A) the Ineligible Receivables Pool has been decreased by the amount of Allocated Ineligible Collections previously incorrectly allocated as Principal Collections and the Eligible Receivables Pool has been increased by the same amount (after deducting from the said amount an amount equal to any Allocated Ineligible Collections which have been reapplied in accordance with (i) above) and (B) the Transferor Ineligible Interest has been decreased by the same amount so subtracted from the Ineligible Receivables Pool Bare Trust Property and the Transferor Interest has been increased by the amount so added to the Eligible Receivables Pool, ; and the recording of the entitlement of the Beneficiaries to Trust Property shall be affected accordingly.

Allocated Ineligible Collections. If from time to time payments of monies into the Trustee Collection Account representing Ineligible Collections are incorrectly deemed to be Principal Collections in respect of Eligible Receivables such monies may be allocated as such in accordance with this Deed (as amended by any Supplement) ("Allocated Ineligible CollectionsALLOCATED INELIGIBLE COLLECTIONS") unless prior to such allocation the Receivables Trustee is notified by the Servicer that such monies are Ineligible Collections. Notwithstanding the above, promptly following the notification to the Receivables Trustee by the Servicer that Allocated Ineligible Collections have been so allocated as Principal Collections in respect of Eligible Receivables, the Receivables Trustee shall: (i) apply Trust Property in a manner consistent with the principles set out in this Deed (as amended by any Supplement) to re-apply such Allocated Ineligible Collections correctly; and (ii) amend its books of account to record that (A) the Ineligible Receivables Pool has been decreased by the amount of Allocated Ineligible Collections previously incorrectly allocated as Principal Collections and the Eligible Receivables Pool has been increased by the same amount and (B) the Transferor Ineligible Interest has been decreased by the same amount so subtracted from the Ineligible Receivables Pool and the Transferor Interest has been increased by the amount so added to the Eligible Receivables Pool, and the recording of the entitlement of the Beneficiaries to Trust Property shall be affected accordingly.