Common use of Allocations and Payments Prior to an Event of Default or the Cumulative Net Loss Trigger is Exceeded Clause in Contracts

Allocations and Payments Prior to an Event of Default or the Cumulative Net Loss Trigger is Exceeded. On each Determination Date prior to (i) an Event of Default which is continuing or (ii) the Cumulative Loss Trigger is exceeded, the Servicer, pursuant to written monthly payment instructions and notification (which shall accompany the Monthly Servicer’s Report delivered on such Determination Date), shall instruct the Indenture Trustee to withdraw, and on the succeeding Payment Date the Indenture Trustee acting in accordance with such written instructions shall withdraw, the amounts required to be withdrawn from the Collection Account and shall make the following payments or allocations from Available Funds plus deposits made from the Reserve Account pursuant to Section 7.05(e) for the related Payment Date, in the order of priority specified below:

Allocations and Payments Prior to an Event of Default or the Cumulative Net Loss Trigger is Exceeded. On each Determination Date prior to (i) an Event of Default which is continuing or (ii) the Cumulative Loss Trigger is exceededexceeded and such is continuing, the Servicer, pursuant to written monthly payment instructions and notification (which shall accompany the Monthly Servicer’s Report delivered on such Determination Date), shall instruct the Indenture Trustee to withdraw, and on the succeeding Payment Date the Indenture Trustee acting in accordance with such written instructions shall withdraw, the amounts required to be withdrawn from the Collection Account and shall make the following payments or allocations from Available Funds plus deposits made from the Reserve Account pursuant to Section 7.05(e) for the related Payment Date, in the order of priority specified below: