ALLOCATIONS, DEPOSITS AND PAYMENTS. SECTION 3.01. Allocations of Series [o] Available Interest Amount. On each Payment Date, the Indenture Trustee will apply the Series [o] Available Interest Amount as follows: (a) first, if neither DCS nor any of its Affiliates is the Servicer, to pay the Series [o] Servicing Fee, plus any previously due and unpaid Series [o] Servicing Fee (to the extent it has not been waived by the Servicer for such Payment Date) to the Servicer; (b) second, to deposit to the Interest Funding Account an amount equal to (i) the product of (A) a fraction, the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360, times (B) the Series [o] Note Interest Rate applicable to the related Interest Period, times (C) the Outstanding Dollar Principal Amount of the Series [o] Notes determined as of the Record Date preceding the related Payment Date (the "Series [o] Monthly Interest"), plus (ii) an amount equal to the excess, if any, of the aggregate amount accrued pursuant to this Section 3.01(b) as of prior Interest Periods over the aggregate amount of interest paid to the Series [o] Noteholders pursuant to this Section 3.01(b) in respect of such prior Interest Periods, together with interest at the Series [o] Note Interest Rate on such delinquent amount, to the extent permitted by applicable law; (c) third, if DCS or any of its Affiliates is the Servicer, to pay the Series [o] Servicing Fee plus any previously due and unpaid Series [o] Servicing Fee (to the extent it has not been waived by the Servicer for such Payment Date) to the Servicer; (d) fourth, to be treated as part of the Series [o] Available Principal Amount for application in accordance with Section 3.05 in an amount equal to the Series [o] Investor Default Amount, if any, for the preceding Monthly Period; (e) fifth, to be treated as part of the Series [o] Available Principal Amount for application in accordance with Section 3.05 in an amount equal to the sum of (x) the Nominal Liquidation Amount Deficit, if any, and (y) the Overcollateralization Amount Deficit, if any; (f) sixth, to pay to the Servicer any previously due and unpaid Series [o] Servicing Fee that had been waived by the Servicer in its sole discretion, with the remaining Series [o] Available Interest Amount to be treated as Shared Excess Available Interest Amount for application in accordance with Section 3.17; and (g) seventh, to the Issuer for distribution in respect of the Seller's Certificates pursuant to the Trust Agreement. SECTION 3.02. Amounts to be Treated as Series [o] Available Interest Amount; Other Deposits to the Interest Funding Account. The following deposits and payments will be made on the following dates: (a) Amounts to be Treated as Series [o] Available Interest Amount. In addition to the Interest Collections allocated to Series [o] pursuant to Section 501 of the Indenture, the following amounts shall be treated as part of the Series [o] Available Interest Amount for application in accordance with this Article III:
Appears in 1 contract
Samples: Indenture Supplement (Daimlerchrysler Master Owner Trust)
ALLOCATIONS, DEPOSITS AND PAYMENTS. SECTION 3.01. Allocations of Series [o] 2002-B Available Interest Amount. On each Payment Date, the Indenture Trustee will apply the Series [o] 2002-B Available Interest Amount as follows:
(a) first, if neither DCS nor any of its Affiliates is the Servicer, to pay the Series [o] 2002-B Servicing Fee, plus any previously due and unpaid Series [o] 2002-B Servicing Fee (to the extent it has not been waived by the Servicer for such Payment Date) to the Servicer;
(b) second, to deposit to the Interest Funding Account an amount equal to (i) the product of (A) a fraction, the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360, times (B) the Series [o] 2002-B Note Interest Rate applicable to the related Interest Period, times (C) the Outstanding Dollar Principal Amount of the Series [o] 2002-B Notes determined as of the Record Date preceding the related Payment Date (the "Series [o] 2002-B Monthly Interest"), plus (ii) an amount equal to the excess, if any, of the aggregate amount accrued pursuant to this Section 3.01(b) as of prior Interest Periods over the aggregate amount of interest paid to the Series [o] 2002-B Noteholders pursuant to this Section 3.01(b) in respect of such prior Interest Periods, together with interest at the Series [o] 2002-B Note Interest Rate on such delinquent amount, to the extent permitted by applicable law;
(c) third, if DCS or any of its Affiliates is the Servicer, to pay the Series [o] 2002-B Servicing Fee plus any previously due and unpaid Series [o] 2002-B Servicing Fee (to the extent it has not been waived by the Servicer for such Payment Date) to the Servicer;
(d) fourth, to be treated as part of the Series [o] 2002-B Available Principal Amount for application in accordance with Section 3.05 in an amount equal to the Series [o] 2002-B Investor Default Amount, if any, for the preceding Monthly Period;
(e) fifth, to be treated as part of the Series [o] 2002-B Available Principal Amount for application in accordance with Section 3.05 in an amount equal to the sum of (x) the Nominal Liquidation Amount Deficit, if any, and (y) the Overcollateralization Amount Deficit, if any;
(f) sixth, to pay to the Servicer any previously due and unpaid Series [o] 2002-B Servicing Fee that had been waived by the Servicer in its sole discretion, with the remaining Series [o] 2002-B Available Interest Amount to be treated as Shared Excess Available Interest Amount for application in accordance with Section 3.17; and
(g) seventh, to the Issuer for distribution in respect of the Seller's Certificates pursuant to the Trust Agreement.
SECTION 3.02. Amounts to be Treated as Series [o] 2002-B Available Interest Amount; Other Deposits to the Interest Funding Account. The following deposits and payments will be made on the following dates:
(a) Amounts to be Treated as Series [o] 2002-B Available Interest Amount. In addition to the Interest Collections allocated to Series [o] 2002-B pursuant to Section 501 of the Indenture, the following amounts shall be treated as part of the Series [o] 2002-B Available Interest Amount for application in accordance with this Article III:
Appears in 1 contract
Samples: Series 2002 B Indenture Supplement (Daimlerchrysler Master Owner Trust)
ALLOCATIONS, DEPOSITS AND PAYMENTS. SECTION Section 3.01. Allocations of Series [o____] Available Interest Amount. On each Payment Date, the Indenture Trustee will apply the Series [o____] Available Interest Amount as follows:
(a) first, if neither DCS nor any of its Affiliates is the Servicer, to pay the Series [o___] Servicing Fee, Fee plus any previously due and unpaid Series [o___] Servicing Fee (to the extent it has not been waived by the Servicer for such Payment Date) to the Servicer;
(b) second, to deposit to the Interest Funding Account an amount equal to (i) the product of (Ai)(A) a fraction, the numerator of which is [the actual number of days in the related Interest Period and the denominator of which is 360], times (B) the Series [o___] Note Interest Rate applicable to the related Interest Period, times (Cii) the Outstanding Dollar Principal Amount of the Series [o___] Notes determined as of the Record Date preceding the related Payment Date (the "Series [o___] Monthly Interest"), plus (ii) an amount equal to the excess, if any, of the aggregate amount accrued pursuant to this Section 3.01(b) as of prior Interest Periods over the aggregate amount of interest paid to the Series [o[ ] Noteholders pursuant to this Section 3.01(b) in respect of such prior Interest Periods, together with interest at the Series [o] 2002-A Note Interest Rate on such delinquent amount, to the extent permitted by applicable law;
(c) third, if DCS or any of its Affiliates is the Servicer, to pay the Series [o____] Servicing Fee plus any previously due and unpaid Series [o___] Servicing Fee (to the extent it has not been waived by the Servicer for such Payment Date) to the Servicer;
(d) fourth, to be treated as part of the Series [o____ ] Available Principal Amount for application in accordance with Section 3.05 in an amount equal to the Series [o____] Investor Default Amount, if any, for the preceding Monthly Period;
(e) fifth, to be treated as part of the Series [o___] Available Principal Amount for application in accordance with Section 3.05 in an amount equal to the sum of (x) the Nominal Liquidation Amount Deficit, if any, and (y) the Overcollateralization Amount Deficit, if any;
(f) sixth, to pay to the Servicer any previously due and unpaid Series [o] Servicing Fee that had been waived by the Servicer in its sole discretion, with the remaining Series [o] Available Interest Amount to be treated as Shared Excess Available Interest Amount for application in accordance with Section 3.17; and
(g) seventh, to the Issuer for distribution in respect of the Seller's Certificates pursuant to the Trust AgreementIssuer.
SECTION Section 3.02. Amounts to be Treated as Series [o____] Available Interest Amount; Other Deposits to the Interest Funding Account. The following deposits and payments will be made on the following dates:
(a) Amounts to be Treated as Series [o___] Available Interest Amount. In addition to the Available Interest Collections Amount allocated to Series [o___] pursuant to Section 501 of the Indenture, the following amounts shall be treated as part of the Series [o___] Available Interest Amount for application in accordance with this Article III:
(i) PFA Earnings Shortfall. The aggregate amount allocable to Series [ ] pursuant to Section 4.01(c) of the Series 2002-CC Supplement will be treated as part of the Series [___ ] Available Interest Amounts for the related Payment Date.
(ii) Account Earnings. Any PFA Earnings for any Payment Date will be treated as part of the Series [___] Available Interest Amount for such Payment Date.
Appears in 1 contract
Samples: Indenture Supplement (Carco Auto Loan Master Trust)
ALLOCATIONS, DEPOSITS AND PAYMENTS. SECTION Section 3.01. Allocations of Series [o] Available Interest Amount. On each Payment Date, the Indenture Trustee will apply the Series [o] Available Interest Amount as follows:
(a) first, if neither DCS nor any of its Affiliates is the Servicer, to pay the Series [o] Servicing Fee, plus any previously due and unpaid Series [o] Servicing Fee (to the extent it has not been waived by the Servicer for such Payment Date) to the Servicer;
(b) second, to deposit to the Interest Funding Account an amount equal to (i) the product of (A) a fraction, the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360, times (B) the Series [o] Note Interest Rate applicable to the related Interest Period, times (C) the Outstanding Dollar Principal Amount of the Series [o] Notes determined as of the Record Date preceding the related Payment Date (the "Series [o] Monthly Interest"), plus (ii) an amount equal to the excess, if any, of the aggregate amount accrued pursuant to this Section 3.01(b) as of prior Interest Periods over the aggregate amount of interest paid to the Series [o] Noteholders pursuant to this Section 3.01(b) in respect of such prior Interest Periods, together with interest at the Series [o] Note Interest Rate on such delinquent amount, to the extent permitted by applicable law;
(c) third, if DCS or any of its Affiliates is the Servicer, to pay the Series [o] Servicing Fee plus any previously due and unpaid Series [o] Servicing Fee (to the extent it has not been waived by the Servicer for such Payment Date) to the Servicer;
(d) fourth, to be treated as part of the Series [o] Available Principal Amount for application in accordance with Section 3.05 in an amount equal to the Series [o] Investor Default Amount, if any, for the preceding Monthly Period;
(e) fifth, to be treated as part of the Series [o] Available Principal Amount for application in accordance with Section 3.05 in an amount equal to the sum of (x) the Nominal Liquidation Amount Deficit, if any, and (y) the Overcollateralization Amount Deficit, if any;
(f) sixth, to pay to the Servicer any previously due and unpaid Series [o] Servicing Fee that had been waived by the Servicer in its sole discretion, with the remaining Series [o] Available Interest Amount to be treated as Shared Excess Available Interest Amount for application in accordance with Section 3.17; and
(g) seventh, to the Issuer for distribution in respect of the Seller's Certificates pursuant to the Trust AgreementIssuer.
SECTION Section 3.02. Amounts to be Treated as Series [o] Available Interest Amount; Other Deposits to the Interest Funding Account. The following deposits and payments will be made on the following dates:
(a) Amounts to be Treated as Series [o] Available Interest Amount. In addition to the Available Interest Collections Amount allocated to Series [o] pursuant to Section 501 of the Indenture, the following amounts shall be treated as part of the Series [o] Available Interest Amount for application in accordance with this Article III:
Appears in 1 contract
Samples: Indenture Supplement (Daimlerchrysler Wholesale Receivables LLC)
ALLOCATIONS, DEPOSITS AND PAYMENTS. SECTION Section 3.01. Allocations of Series [o] 2003-A Available Interest Amount. On each Payment Date, the Indenture Trustee will apply the Series [o] Indentxxx Xxxxxxx xxxx xxxxx xxx Xxxxxx 0003-A Available Interest Amount as follows:
(a) first, if neither DCS nor any of its Affiliates is the Servicer, to pay the Series [o] 2003-A Servicing Fee, plus any previously due and unpaid Series [o] 2003-A Servicing Fee (to the extent it has not been waived by the Servicer for such Payment Date) to the Servicer;
(b) second, to deposit to the Interest Funding Account an amount equal to (i) the product of (A) a fraction, the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360, times (B) the Series [o] 2003-A Note Interest Rate applicable to the related Interest Period, times (C) the Outstanding Dollar Principal Amount of the Series [o] 2003-A Notes determined as of the Record Date preceding the related Payment Date (the "Series [o] 2003-A Monthly Interest"), plus (ii) an amount equal to the excess, if any, of the aggregate amount accrued pursuant to this Section 3.01(b) as of prior Interest Periods over the aggregate amount of interest paid to the Series [o] 2003-A Noteholders pursuant to this Section 3.01(b) in respect of such prior Interest Periods, together with interest at the Series [o] 2003-A Note Interest Rate on such delinquent amount, to the extent permitted by applicable law;
(c) third, if DCS or any of its Affiliates is the Servicer, to pay the Series [o] 2003-A Servicing Fee plus any previously due and unpaid Series [o] 2003-A Servicing Fee (to the extent it has not been waived by the Servicer for such Payment Date) to the Servicer;
(d) fourth, to be treated as part of the Series [o] 2003-A Available Principal Amount for application in accordance with Section 3.05 in an amount equal to the Series [o] 2003-A Investor Default Amount, if any, for the preceding Monthly Period;
(e) fifth, to be treated as part of the Series [o] 2003-A Available Principal Amount for application in accordance with Section 3.05 in an amount equal to the sum of (x) the Nominal Liquidation Amount Deficit, if any, and (y) the Overcollateralization Amount Deficit, if any;
(f) sixth, to pay to the Servicer any previously due and unpaid Series [o] 2003-A Servicing Fee that had been waived by the Servicer in its sole discretion, with the remaining Series [o] 2003-A Available Interest Amount to be treated as Shared Excess Available Interest Amount for application in accordance with Section 3.17; and
(g) seventh, to the Issuer for distribution in respect of the Seller's Certificates pursuant to the Trust Agreement.
SECTION Section 3.02. Amounts to be Treated as Series [o] 2003-A Available Interest Amount; Other Deposits to the Interest Funding Account. The following deposits and payments will be made on the following dates:
(a) Amounts to be Treated as Series [o] 2003-A Available Interest Amount. In addition to the Interest Collections allocated to Series [o] 2003-A pursuant to Section 501 of the Indenture, the following amounts shall be treated as part of the Series [o] 2003-A Available Interest Amount for application in accordance with this Article III:
Appears in 1 contract
Samples: Series 2003 a Indenture Supplement (Daimlerchrysler Master Owner Trust)
ALLOCATIONS, DEPOSITS AND PAYMENTS. SECTION 3.01. Allocations of Series [o] 2002-A Available Interest Amount. On each Payment Date, the Indenture Trustee will apply the Series [o] Indentuxx Xxxxxxx xxxx xxxxx xxx Xxxxxx 0000-A Available Interest Amount as follows:
(a) first, if neither DCS nor any of its Affiliates is the Servicer, to pay the Series [o] 2002-A Servicing Fee, plus any previously due and unpaid Series [o] 2002-A Servicing Fee (to the extent it has not been waived by the Servicer for such Payment Date) to the Servicer;
(b) second, to deposit to the Interest Funding Account an amount equal to (i) the product of (A) a fraction, the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360, times (B) the Series [o] 2002-A Note Interest Rate applicable to the related Interest Period, times (C) the Outstanding Dollar Principal Amount of the Series [o] 2002-A Notes determined as of the Record Date preceding the related Payment Date (the "Series [o] 2002-A Monthly Interest"), plus (ii) an amount equal to the excess, if any, of the aggregate amount accrued pursuant to this Section 3.01(b) as of prior Interest Periods over the aggregate amount of interest paid to the Series [o] 2002-A Noteholders pursuant to this Section 3.01(b) in respect of such prior Interest Periods, together with interest at the Series [o] 2002-A Note Interest Rate on such delinquent amount, to the extent permitted by applicable law;
(c) third, if DCS or any of its Affiliates is the Servicer, to pay the Series [o] 2002-A Servicing Fee plus any previously due and unpaid Series [o] 2002-A Servicing Fee (to the extent it has not been waived by the Servicer for such Payment Date) to the Servicer;
(d) fourth, to be treated as part of the Series [o] 2002-A Available Principal Amount for application in accordance with Section 3.05 in an amount equal to the Series [o] 2002-A Investor Default Amount, if any, for the preceding Monthly Period;
(e) fifth, to be treated as part of the Series [o] 2002-A Available Principal Amount for application in accordance with Section 3.05 in an amount equal to the sum of (x) the Nominal Liquidation Amount Deficit, if any, and (y) the Overcollateralization Amount Deficit, if any;
(f) sixth, to pay to the Servicer any previously due and unpaid Series [o] 2002-A Servicing Fee that had been waived by the Servicer in its sole discretion, with the remaining Series [o] 2002-A Available Interest Amount to be treated as Shared Excess Available Interest Amount for application in accordance with Section 3.17; and
(g) seventh, to the Issuer for distribution in respect of the Seller's Certificates pursuant to the Trust Agreement.
SECTION 3.02. Amounts to be Treated as Series [o] 2002-A Available Interest Amount; Other Deposits to the Interest Funding Account. The following deposits and payments will be made on the following dates:
(a) Amounts to be Treated as Series [o] 2002-A Available Interest Amount. In addition to the Interest Collections allocated to Series [o] 2002-A pursuant to Section 501 of the Indenture, the following amounts shall be treated as part of the Series [o] 2002-A Available Interest Amount for application in accordance with this Article III:
Appears in 1 contract
Samples: Series 2002 a Indenture Supplement (Daimlerchrysler Master Owner Trust)
ALLOCATIONS, DEPOSITS AND PAYMENTS. SECTION 3.01. Allocations of Series [o] 2005-B Available Interest Amount. On each Payment Date, the Indenture Trustee will apply the Series [o] 2005-B Available Interest Amount as follows:
(a) first, if neither DCS nor any of its Affiliates is the Servicer, to pay the Series [o] 2005-B Servicing Fee, plus any previously due and unpaid Series [o] 2005-B Servicing Fee (to the extent it has not been waived by the Servicer for such Payment Date) to the Servicer;
(b) second, to deposit to the Interest Funding Account an amount equal to (i) the product of (A) a fractionAccount, the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360, times (B) the Series [o] Note Interest Rate applicable to the related Interest Period, times (C) the Outstanding Dollar Principal Amount of the Series [o] Notes determined as of the Record Date preceding the related Payment Date (the "Series [o] Monthly Interest"), plus (ii) an amount equal to the excesssum of (x) the Monthly Interest and Fees for such Payment Date, if any, of the aggregate amount accrued pursuant to this Section 3.01(bplus (y) as of prior any previously due and unpaid Monthly Interest Periods over the aggregate amount of interest paid to the Series [o] Noteholders pursuant to this Section 3.01(b) in respect of such prior Interest Periodsand Fees, together with interest at the Series [o] 2005-B Note Interest Rate on such delinquent amount, to the extent permitted by applicable law;
(c) third, if DCS or any of its Affiliates is the Servicer, to pay the Series [o] 2005-B Servicing Fee Fee, plus any previously due and unpaid Series [o] 2005-B Servicing Fee (to the extent it has not been waived by the Servicer for such Payment Date) to the Servicer;
(d) fourth, to be treated as part of the Series [o] 2005-B Available Principal Amount for application in accordance with Section 3.05 in an amount equal to the Series [o] 2005-B Investor Default Amount, if any, for the preceding Monthly Period;
(e) fifth, to be treated as part of the Series [o] 2005-B Available Principal Amount for application in accordance with Section 3.05 in an amount equal to the sum of (x) the Nominal Liquidation Amount Deficit, if any, and (y) the Overcollateralization Amount Deficit, if any;
(f) sixth, to deposit to the Interest Funding Account, an amount equal to the sum of (x) the Note Additional Amounts for such Payment Date, plus (y) any previously due and unpaid Note Additional Amounts;
(g) seventh, to pay to the Servicer any previously due and unpaid Series [o] 2005-B Servicing Fee that had been waived by the Servicer in its sole discretion, with the remaining Series [o] 2005-B Available Interest Amount to be treated as Shared Excess Available Interest Amount for application in accordance with Section 3.17; and
(gh) seventheighth, to the Issuer for distribution in respect of the Seller's Certificates pursuant to the Trust Agreement.
SECTION 3.02. Amounts to be Treated as Series [o] 2005-B Available Interest Amount; Other Deposits to the Interest Funding Account. The following deposits and payments will be made on the following dates:
(a) Amounts to be Treated as Series [o] 2005-B Available Interest Amount. In addition to the Interest Collections allocated to Series [o] 2005-B pursuant to Section 501 of the Indenture, the following amounts shall be treated as part of the Series [o] 2005-B Available Interest Amount for application in accordance with this Article III:
Appears in 1 contract
Samples: Series 2005 B Indenture Supplement (Daimlerchrysler Master Owner Trust)
ALLOCATIONS, DEPOSITS AND PAYMENTS. SECTION 3.01. Allocations of Series [o] 2006-A Available Interest Amount. On each Payment Date, the Indenture Trustee will apply the Series [o] Xxxxxxx xxxx xxxxx xxx Xxxxxx 0000-A Available Interest Amount as follows:
(a) first, if neither DCS DCFS nor any of its Affiliates is the Servicer, to pay the Series [o] 2006-A Servicing Fee, plus any previously due and unpaid Series [o] 2006-A Servicing Fee (to the extent it has not been waived by the Servicer for such Payment Date) to the Servicer;
(b) second, to deposit to the Interest Funding Account an amount equal to (i) the product of (A) a fraction, the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360, times (B) the Series [o] 2006-A Note Interest Rate applicable to the related Interest Period, times (C) the Outstanding Dollar Principal Amount of the Series [o] 2006-A Notes determined as of the Record Date preceding the related Payment Date (the "Series [o] 2006-A Monthly Interest"), plus (ii) an amount equal to the excess, if any, of the aggregate amount accrued pursuant to this Section 3.01(b) as of prior Interest Periods over the aggregate amount of interest paid to the Series [o] 2006-A Noteholders pursuant to this Section 3.01(b) in respect of such prior Interest Periods, together with interest at the Series [o] 2006-A Note Interest Rate on such delinquent amount, to the extent permitted by applicable law;
(c) third, if DCS DCFS or any of its Affiliates is the Servicer, to pay the Series [o] 2006-A Servicing Fee plus any previously due and unpaid Series [o] 2006-A Servicing Fee (to the extent it has not been waived by the Servicer for such Payment Date) to the Servicer;
(d) fourth, to be treated as part of the Series [o] 2006-A Available Principal Amount for application in accordance with Section 3.05 in an amount equal to the Series [o] 2006-A Investor Default Amount, if any, for the preceding Monthly Period;
(e) fifth, to be treated as part of the Series [o] 2006-A Available Principal Amount for application in accordance with Section 3.05 in an amount equal to the sum of (x) the Nominal Liquidation Amount Deficit, if any, and (y) the Overcollateralization Amount Deficit, if any;
(f) sixth, to pay to the Servicer any previously due and unpaid Series [o] 2006-A Servicing Fee that had been waived by the Servicer in its sole discretion, with the remaining Series [o] 2006-A Available Interest Amount to be treated as Shared Excess Available Interest Amount for application in accordance with Section 3.17; and
(g) seventh, to the Issuer for distribution in respect of the Seller's Certificates pursuant to the Trust Agreement.
SECTION 3.02. Amounts to be Treated as Series [o] 2006-A Available Interest Amount; Other Deposits to the Interest Funding Account. The following deposits and payments will be made on the following dates:
(a) Amounts to be Treated as Series [o] 2006-A Available Interest Amount. In addition to the Interest Collections allocated to Series [o] 2006-A pursuant to Section 501 of the Indenture, the following amounts shall be treated as part of the Series [o] 2006-A Available Interest Amount for application in accordance with this Article III:
Appears in 1 contract
Samples: Indenture Supplement (Daimlerchrysler Master Owner Trust)
ALLOCATIONS, DEPOSITS AND PAYMENTS. SECTION 3.01. Allocations of Series [o] Available Interest AmountSection 3.01 ALLOCATIONS OF SERIES 2003-1 AVAILABLE INTEREST AMOUNT. On each Payment Date, the Indenture Trustee will apply the Series [o] 2003-1 Available Interest Amount as follows:
(a) first, if neither DCS nor any of its Affiliates is an amount equal to the Servicer, to pay the Series [o] Monthly Servicing Fee, plus the amount of any Monthly Servicing Fee previously due and unpaid Series [o] Servicing Fee (but not distributed to the extent it has not been waived by the Servicer for such Payment Date) on a prior date, shall be distributed to the Servicer;
(b) second, to deposit to the Interest Funding Account an amount equal to (i) the product of (A) a fraction, the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360, times (B) the Series [o] Note Interest Class A Rate applicable to the 11 SERIES 2003-1 INDENTURE SUPPLEMENT related Interest Period, times (C) the Outstanding Dollar Class A Note Principal Amount of the Series [o] Notes Balance determined as of the Record Date preceding the related Payment Date (the "Series [o] Class A Monthly Interest"), plus (ii) an amount equal to the excess, if any, of the aggregate amount accrued pursuant to this Section SECTION 3.01(b) as of prior Interest Periods over the aggregate amount of interest paid to the Series [o] Class A Noteholders pursuant to this Section SECTION 3.01(b) in respect of such prior Interest Periods, together with interest at the Series [o] Note Interest Class A Rate on such delinquent amount, to the extent permitted by applicable law;
(c) third, if DCS or any to deposit to the Interest Funding Account an amount equal to (i) the product of its Affiliates (A) a fraction, the numerator of which is the Serviceractual number of days in the related Interest Period and the denominator of which is 360, times (B) the Class B Rate applicable to pay the related Interest Period, times (C) the Class B Note Principal Balance determined as of the Record Date preceding the related Payment Date (the "Class B Monthly Interest" and collectively with the Class A Monthly Interest, the "Series 2003-1 Monthly Interest"), plus (ii) an amount equal to the excess, if any, of the aggregate amount accrued pursuant to this SECTION 3.01(c) as of prior Interest Periods over the aggregate amount of interest paid to the Series [o] Servicing Fee plus any previously due and unpaid Series [o] Servicing Fee (2003-1 Noteholders pursuant to this SECTION 3.01(c) in respect of such prior Interest Periods, together with interest at the Class B Rate on such delinquent amount, to the extent it has not been waived permitted by the Servicer for such Payment Date) to the Servicerapplicable law;
(d) fourth, to be treated as part of the Series [o] 2003-1 Available Principal Amount for application in accordance with Section SECTION 3.05 in an amount equal to (i) the Series [o] Investor Default Amount, if any, (ii) the Investor Uncovered Dilution Amount, if any, and (iii) the Series 2003-1 Collateral Amount Deficit, if any, in each case for the preceding Monthly Collection Period;
(e) fifth, to be treated as part of the Series [o] Available Principal Amount for application in accordance with Section 3.05 in (i) an amount equal up to the sum of (x) the Nominal Liquidation Amount Deficitexcess, if any, and of the Reserve Fund Required Amount OVER the Reserve Fund Available Amount shall be deposited into the Reserve Fund or, (yii) for each Payment Date from the Overcollateralization Amount Deficitmonth preceding the Accumulation Period through the last Payment Date occurring in the Accumulation Period, an amount up to the excess, if any, of 125% of the Reserve Fund Required Amount OVER the Reserve Fund Available Amount shall be deposited into the Reserve Fund;
(f) sixth, to pay an amount equal to the Servicer any previously due and unpaid excess of the Series [o] Servicing Fee that had been waived 2003-1 Required Subordinated Amount OVER the Series 2003-1 Available Subordinated Amount will be distributed to the Transferor to increase the Series 2003-1 Available Subordinated Amount by the Servicer in its sole discretionamount so distributed;
(g) seventh, with the remaining during an Early Amortization, any Series [o] 2003-1 Available Interest Amounts that remain after giving effect to CLAUSES 3.01(a) through (f) above, shall be deposited into the Principal Funding Account for payment to the Series 2003-1 Noteholders in an amount up to the Collateral Amount of the Series 2003-1 Notes;
(h) eighth, any Series 2003-1 Available Interest Amounts that remain after giving effect to CLAUSES 3.01(a) through (g) above and reimbursement of waived Monthly Servicing Fee, if any, to be treated as Shared Excess Available Interest Amount for application in accordance with Section SECTION 3.17; and
(g) seventh, to the Issuer for distribution in respect of the Seller's Certificates pursuant to the Trust Agreement.
SECTION 3.02. Amounts to be Treated as Series [o] Available Interest Amount; Other Deposits to the Interest Funding Account. The following deposits and payments will be made on the following dates:
(a) Amounts to be Treated as Series [o] Available Interest Amount. In addition to the Interest Collections allocated to Series [o] pursuant to Section 501 of the Indenture, the following amounts shall be treated as part of the Series [o] Available Interest Amount for application in accordance with this Article III:;
Appears in 1 contract
Samples: Indenture Supplement (CNH Wholesale Receivables Inc)
ALLOCATIONS, DEPOSITS AND PAYMENTS. SECTION 3.01. Allocations of Series [o] 2004-B Available Interest Amount. On each Payment Date, the Indenture Trustee will apply the Series [o] 2004-B Available Interest Amount as follows:
(a) first, if neither DCS nor any of its Affiliates is the Servicer, to pay the Series [o] 2004-B Servicing Fee, plus any previously due and unpaid Series [o] 2004-B Servicing Fee (to the extent it has not been waived by the Servicer for such Payment Date) to the Servicer;
(b) second, to deposit to the Interest Funding Account an amount equal to (i) the product of (A) a fraction, the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360, times (B) the Series [o] 2004-B Note Interest Rate applicable to the related Interest Period, times (C) the Outstanding Dollar Principal Amount of the Series [o] 2004-B Notes determined as of the Record Date preceding the related Payment Date (the "Series [o] 2004-B Monthly Interest"), plus (ii) an amount equal to the excess, if any, of the aggregate amount accrued pursuant to this Section 3.01(b) as of prior Interest Periods over the aggregate amount of interest paid to the Series [o] 2004-B Noteholders pursuant to this Section 3.01(b) in respect of such prior Interest Periods, together with interest at the Series [o] 2004-B Note Interest Rate on such delinquent amount, to the extent permitted by applicable law;
(c) third, if DCS or any of its Affiliates is the Servicer, to pay the Series [o] 2004-B Servicing Fee plus any previously due and unpaid Series [o] 2004-B Servicing Fee (to the extent it has not been waived by the Servicer for such Payment Date) to the Servicer;
(d) fourth, to be treated as part of the Series [o] 2004-B Available Principal Amount for application in accordance with Section 3.05 in an amount equal to the Series [o] 2004-B Investor Default Amount, if any, for the preceding Monthly Period;
(e) fifth, to be treated as part of the Series [o] 2004-B Available Principal Amount for application in accordance with Section 3.05 in an amount equal to the sum of (x) the Nominal Liquidation Amount Deficit, if any, and (y) the Overcollateralization Amount Deficit, if any;
(f) sixth, to pay to the Servicer any previously due and unpaid Series [o] 2004-B Servicing Fee that had been waived by the Servicer in its sole discretion, with the remaining Series [o] 2004-B Available Interest Amount to be treated as Shared Excess Available Interest Amount for application in accordance with Section 3.17; and
(g) seventh, to the Issuer for distribution in respect of the Seller's Certificates pursuant to the Trust Agreement.
SECTION 3.02. Amounts to be Treated as Series [o] 2004-B Available Interest Amount; Other Deposits to the Interest Funding Account. The following deposits and payments will be made on the following dates:
(a) Amounts to be Treated as Series [o] 2004-B Available Interest Amount. In addition to the Interest Collections allocated to Series [o] 2004-B pursuant to Section 501 of the Indenture, the following amounts shall be treated as part of the Series [o] 2004-B Available Interest Amount for application in accordance with this Article III:
Appears in 1 contract
Samples: Series 2004 B Indenture Supplement (Daimlerchrysler Master Owner Trust)
ALLOCATIONS, DEPOSITS AND PAYMENTS. SECTION 3.01. Allocations of Series [o] 2002-B Available Interest Amount. On each Payment Date, the Indenture Trustee will apply the Series [o] 2002-B Available Interest Amount as follows:
(a) first, if neither DCS nor any of its Affiliates is the Servicer, to pay the Series [o] 2002-B Servicing Fee, plus any previously due and unpaid Series [o] 2002-B Servicing Fee (to the extent it has not been waived by the Servicer for such Payment Date) to the Servicer;
(b) second, to deposit to the Interest Funding Account an amount equal to (i) the product of (A) a fraction, the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360, times (B) the Series [o] 2002-B Note Interest Rate applicable to the related Interest Period, times (C) the Outstanding Dollar Principal Amount of the Series [o] 2002-B Notes determined as of the Record Date preceding the related Payment Date (the "Series [o] 2002-B Monthly Interest"), plus (ii) an amount equal to the excess, if any, of the aggregate amount accrued pursuant to this Section 3.01(b) as of prior Interest Periods over the aggregate amount of interest paid to the Series [o] 2002-B Noteholders pursuant to this Section 3.01(b) in respect of such prior Interest Periods, together with interest at the Series [o] 2002-B Note Interest Rate on such delinquent amount, to the extent permitted by applicable law;
(c) third, if DCS or any of its Affiliates is the Servicer, to pay the Series [o] 2002-B Servicing Fee plus any previously due and unpaid Series [o] 2002-B Servicing Fee (to the extent it has not been waived by the Servicer for such Payment Date) to the Servicer;
(d) fourth, to be treated as part of the Series [o] 2002-B Available Principal Amount for application in accordance with Section 3.05 in an amount equal to the Series [o] 2002-B Investor Default Amount, if any, for the preceding Monthly Period;
(e) fifth, to be treated as part of the Series [o] 2002-B Available Principal Amount for application in accordance with Section 3.05 in an amount equal to the sum of (x) the Nominal Liquidation Amount Deficit, if any, and (y) the Overcollateralization Amount Deficit, if any;
(f) sixth, to pay to the Servicer any previously due and unpaid Series [o] Servicing Fee that had been waived by the Servicer in its sole discretion, with the remaining Series [o] Available Interest Amount to be treated as Shared Excess Available Interest Amount for application in accordance with Section 3.17; and
(g) seventh, to the Issuer for distribution in respect of the Seller's Certificates pursuant to the Trust AgreementIssuer.
SECTION 3.02. Amounts to be Treated as Series [o] 2002-B Available Interest Amount; Other Deposits to the Interest Funding Account. The following deposits and payments will be made on the following dates:
(a) Amounts to be Treated as Series [o] 2002-B Available Interest Amount. In addition to the Available Interest Collections Amount allocated to Series [o] 2002-B pursuant to Section 501 of the Indenture, the following amounts shall be treated as part of the Series [o] 2002-B Available Interest Amount for application in accordance with this Article III:
Appears in 1 contract
Samples: Series 2002 B Indenture Supplement (Daimlerchrysler Master Owner Trust)
ALLOCATIONS, DEPOSITS AND PAYMENTS. SECTION 3.01. Allocations of Series [o] Available Interest AmountSection 3.01 ALLOCATIONS OF SERIES 200__ - __ AVAILABLE INTEREST AMOUNT. On each Payment Date, the Indenture Trustee will apply the Series [o] 200__ - __ Available Interest Amount as follows:
(a) first, if neither DCS nor any of its Affiliates is the Servicer, an amount equal to pay the Series [o] 200_-_ Servicing Fee, plus the amount of any Series 200_-_ Servicing Fee previously due and unpaid Series [o] Servicing Fee (but not distributed to the extent it has not been waived by the Servicer for such Payment Date) on a prior date, shall be distributed to the Servicer;
(b) second, to deposit to the Interest Funding Account an amount equal to (i) the product of (A) a fraction, the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360, times (B) the Series [o] Note Interest Class A Rate applicable to the related Interest Period, times (C) the Outstanding Dollar Class A Note Principal Amount of the Series [o] Notes Balance determined as of the Record Date preceding the related Payment Date (the "Series [o] Class A Monthly Interest"), plus (ii) an amount equal to the excess, if any, of the aggregate amount accrued pursuant to this Section 3.01(b) as of prior Interest Periods over the aggregate amount of interest paid to the Series [o] Class A Noteholders pursuant to this Section 3.01(b) in respect of such prior Interest Periods, together with interest at the Series [o] Note Interest Class A Rate on such delinquent amount, to the extent permitted by applicable law;
(c) third, if DCS or any to deposit to the Interest Funding Account an amount equal to (i) the product of its Affiliates (A) a fraction, the numerator of which is the Serviceractual number of days in the related Interest Period and the denominator of which is 360, times (B) the Class B Rate applicable to pay the related Interest Period, times (C) the Class B Note Principal Balance determined as of the Record Date preceding the related Payment Date (the "Class B Monthly Interest" and collectively with the Class A Monthly Interest, the "Series 200__ - __ Monthly Interest"), plus (ii) an amount equal to the excess, if any, of the aggregate amount accrued pursuant to this Section 3.01(c) as of prior Interest Periods over the aggregate amount of interest paid to the Series [o] Servicing Fee plus any previously due and unpaid Series [o] Servicing Fee (200__ - __ Noteholders pursuant to this Section 3.01(c) in respect of such prior Interest Periods, together with interest at the Class B Rate on such delinquent amount, to the extent it has not been waived permitted by the Servicer for such Payment Date) to the Servicerapplicable law;
(d) fourth, to be treated as part of the Series 200__ - __ Available Principal Amount for application in accordance with Section 3.05 in an amount equal to (i) the Investor Default Amount, if any, (ii) the Investor Uncovered Dilution Amount, if any, and (iii) the Series 200__-__ Collateral Amount Deficit, if any, in each case for the preceding Monthly Period;
(e) fifth, an amount up to the excess, if any, of the Reserve Fund Required Amount OVER the Reserve Fund Available Amount shall be deposited into the Reserve Fund;
(f) sixth, to be treated as part of the Series [o__] Available Principal Amount for application in accordance with Section 3.05 in an amount equal to the Series [o] Investor Default Amount, if any, for the preceding Monthly Period;
(e) fifth, to be treated as part of the Series [o] Available Principal Amount for application in accordance with Section 3.05 in an amount equal to the sum of (x) the Nominal Liquidation Subordinated Amount Deficit, if any; and
(g) seventh, any Series 200_-_ Available Interest Amounts that remain after giving effect to Clauses 3.01(a) through (f) above and (y) the Overcollateralization Amount Deficitreimbursement of waived Series 200_-_ Servicing Fee, if any;
(f) sixth, to pay to the Servicer any previously due and unpaid Series [o] Servicing Fee that had been waived by the Servicer in its sole discretion, with the remaining Series [o] Available Interest Amount to be treated as Shared Excess Available Interest Amount for application in accordance with Section 3.17; and
(g) seventh, to the Issuer for distribution in respect of the Seller's Certificates pursuant to the Trust Agreement.
SECTION 3.02. Amounts to be Treated as Series [o] Available Interest Amount; Other Deposits to the Interest Funding Account. The following deposits and payments will be made on the following dates:
(a) Amounts to be Treated as Series [o] Available Interest Amount. In addition to the Interest Collections allocated to Series [o] pursuant to Section 501 of the Indenture, the following amounts shall be treated as part of the Series [o] Available Interest Amount for application in accordance with this Article III:;
Appears in 1 contract
Samples: Indenture Supplement (CNH Wholesale Receivables Inc)
ALLOCATIONS, DEPOSITS AND PAYMENTS. SECTION 3.01. Allocations of Series [o] 2003-A Available Interest Amount. On each Payment Date, the Indenture Trustee will apply the Series [o] 2003-A Available Interest Amount as follows:
(a) first, if neither DCS nor any of its Affiliates is the Servicer, to pay the Series [o] 2003-A Servicing Fee, plus any previously due and unpaid Series [o] 2003-A Servicing Fee (to the extent it has not been waived by the Servicer for such Payment Date) to the Servicer;
(b) second, to deposit to the Interest Funding Account an amount equal to (i) the product of (A) a fraction, the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360, times (B) the Series [o] 2003-A Note Interest Rate applicable to the related Interest Period, times (C) the Outstanding Dollar Principal Amount of the Series [o] 2003-A Notes determined as of the Record Date preceding the related Payment Date (the "Series [o] 2003-A Monthly Interest"), plus (ii) an amount equal to the excess, if any, of the aggregate amount accrued pursuant to this Section 3.01(b) as of prior Interest Periods over the aggregate amount of interest paid to the Series [o] 2003-A Noteholders pursuant to this Section 3.01(b) in respect of such prior Interest Periods, together with interest at the Series [o] 2003-A Note Interest Rate on such delinquent amount, to the extent permitted by applicable law;
(c) third, if DCS or any of its Affiliates is the Servicer, to pay the Series [o] 2003-A Servicing Fee plus any previously due and unpaid Series [o] 2003-A Servicing Fee (to the extent it has not been waived by the Servicer for such Payment Date) to the Servicer;
(d) fourth, to be treated as part of the Series [o] 2003-A Available Principal Amount for application in accordance with Section 3.05 in an amount equal to the Series [o] 2003-A Investor Default Amount, if any, for the preceding Monthly Period;
(e) fifth, to be treated as part of the Series [o] 2003-A Available Principal Amount for application in accordance with Section 3.05 in an amount equal to the sum of (x) the Nominal Liquidation Amount Deficit, if any, and (y) the Overcollateralization Amount Deficit, if any;
(f) sixth, to pay to the Servicer any previously due and unpaid Series [o] Servicing Fee that had been waived by the Servicer in its sole discretion, with the remaining Series [o] Available Interest Amount to be treated as Shared Excess Available Interest Amount for application in accordance with Section 3.17; and
(g) seventh, to the Issuer for distribution in respect of the Seller's Certificates pursuant to the Trust AgreementIssuer.
SECTION 3.02. Amounts to be Treated as Series [o] 2003-A Available Interest Amount; Other Deposits to the Interest Funding Account. The following deposits and payments will be made on the following dates:
(a) Amounts to be Treated as Series [o] 2003-A Available Interest Amount. In addition to the Available Interest Collections Amount allocated to Series [o] 2003-A pursuant to Section 501 of the Indenture, the following amounts shall be treated as part of the Series [o] 2003-A Available Interest Amount for application in accordance with this Article III:
Appears in 1 contract
Samples: Indenture Supplement (Daimlerchrysler Master Owner Trust)
ALLOCATIONS, DEPOSITS AND PAYMENTS. SECTION Section 3.01. Allocations of Series [o____] Available Interest Amount. On each Payment Transfer Date, the Indenture Trustee will apply the Series [o____] Available Interest Amount as follows:
(a) first, if neither DCS nor any of its Affiliates is the Servicer, to pay the Series [o___] Servicing Fee, Fee plus any previously due and unpaid Series [o___] Servicing Fee (to the extent it has not been waived by the Servicer for such Payment Transfer Date) to the Servicer;
(b) second, to deposit to the Interest Funding Account an amount equal to (i) the product of (Ai)(A) a fraction, the numerator of which is [the actual number of days in the related Interest Period and the denominator of which is 360], times (B) the Series [o___] Note Interest Rate applicable to the related Interest Period, times (Cii) the Outstanding Dollar Principal Amount of the Series [o___] Notes determined as of the Record Date preceding the related Payment Transfer Date (the "Series [o___] Monthly Interest"), plus (ii) an amount equal to the excess, if any, of the aggregate amount accrued pursuant to this Section 3.01(b) as of prior Interest Periods over the aggregate amount of interest paid to the Series [o[ ] Noteholders pursuant to this Section 3.01(b) in respect of such prior Interest Periods, together with interest at the Series [o] Note Interest Rate on such delinquent amount, to the extent permitted by applicable law;
(c) third, if DCS or any of its Affiliates is the Servicer, to pay the Series [o____] Servicing Fee plus any previously due and unpaid Series [o___] Servicing Fee (to the extent it has not been waived by the Servicer for such Payment Transfer Date) to the Servicer;
(d) fourth, to be treated as part of the Series [o____ ] Available Principal Amount for application in accordance with Section 3.05 in an amount equal to the Series [o____] Investor Default Amount, if any, for the preceding Monthly Period;
(e) fifth, to be treated as part of the Series [o___] Available Principal Amount for application in accordance with Section 3.05 in an amount equal to the sum of (x) the Nominal Liquidation Amount Deficit, if any, and (y) the Overcollateralization Amount Deficit, if any;
(f) sixth, to pay to the Servicer any previously due and unpaid Series [o] Servicing Fee that had been waived by the Servicer in its sole discretion, with the remaining Series [o] Available Interest Amount to be treated as Shared Excess Available Interest Amount for application in accordance with Section 3.17; and
(g) seventh, to the Issuer for distribution in respect of the Seller's Certificates pursuant to the Trust AgreementIssuer.
SECTION Section 3.02. Amounts to be Treated as Series [o____] Available Interest Amount; Other Deposits to the Interest Funding Account. The following deposits and payments will be made on the following dates:
(a) Amounts to be Treated as Series [o___] Available Interest Amount. In addition to the Available Interest Collections Amount allocated to Series [o___] pursuant to Section 501 of the Indenture, the following amounts shall be treated as part of the Series [o___] Available Interest Amount for application in accordance with this Article III:
(i) PFA Earnings Shortfall. The aggregate amount allocable to Series [ ] pursuant to Section 4.01(c) of the Series 2002-CC Supplement will be treated as part of the Series [___ ] Available Interest Amounts for such Transfer Date.
Appears in 1 contract
Samples: Indenture Supplement (Daimlerchrysler Wholesale Receivables LLC)
ALLOCATIONS, DEPOSITS AND PAYMENTS. SECTION 3.01. Allocations of Series [o] Available Interest AmountSection 3.01 ALLOCATIONS OF SERIES 2003-2 AVAILABLE INTEREST AMOUNT. On each Payment Date, the Indenture Trustee will apply the Series [o] 2003-2 Available Interest Amount as follows:
(a) first, if neither DCS nor any of its Affiliates is an amount equal to the Servicer, to pay the Series [o] Monthly Servicing Fee, plus the amount of any Monthly Servicing Fee previously due and unpaid Series [o] Servicing Fee (but not distributed to the extent it has not been waived by the Servicer for such Payment Date) on a prior date, shall be distributed to the Servicer;
(b) second, to deposit to the Interest Funding Account an amount equal to (i) the product of (A) a fraction, the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360, times (B) the Series [o] Note Interest Class A Rate applicable to the 11 SERIES 2003-2 INDENTURE SUPPLEMENT related Interest Period, times (C) the Outstanding Dollar Class A Note Principal Amount of the Series [o] Notes Balance determined as of the Record Date preceding the related Payment Date (the "Series [o] Class A Monthly Interest"), plus (ii) an amount equal to the excess, if any, of the aggregate amount accrued pursuant to this Section SECTION 3.01(b) as of prior Interest Periods over the aggregate amount of interest paid to the Series [o] Class A Noteholders pursuant to this Section SECTION 3.01(b) in respect of such prior Interest Periods, together with interest at the Series [o] Note Interest Class A Rate on such delinquent amount, to the extent permitted by applicable law;
(c) third, if DCS or any to deposit to the Interest Funding Account an amount equal to (i) the product of its Affiliates (A) a fraction, the numerator of which is the Serviceractual number of days in the related Interest Period and the denominator of which is 360, times (B) the Class B Rate applicable to pay the related Interest Period, times (C) the Class B Note Principal Balance determined as of the Record Date preceding the related Payment Date (the "Class B Monthly Interest" and collectively with the Class A Monthly Interest, the "Series 2003-2 Monthly Interest"), plus (ii) an amount equal to the excess, if any, of the aggregate amount accrued pursuant to this SECTION 3.01(c) as of prior Interest Periods over the aggregate amount of interest paid to the Series [o] Servicing Fee plus any previously due and unpaid Series [o] Servicing Fee (2003-2 Noteholders pursuant to this SECTION 3.01(c) in respect of such prior Interest Periods, together with interest at the Class B Rate on such delinquent amount, to the extent it has not been waived permitted by the Servicer for such Payment Date) to the Servicerapplicable law;
(d) fourth, to be treated as part of the Series [o] 2003-2 Available Principal Amount for application in accordance with Section SECTION 3.05 in an amount equal to (i) the Series [o] Investor Default Amount, if any, (ii) the Investor Uncovered Dilution Amount, if any, and (iii) the Series 2003-2 Collateral Amount Deficit, if any, in each case for the preceding Monthly Collection Period;
(e) fifth, to be treated as part of the Series [o] Available Principal Amount for application in accordance with Section 3.05 in (i) an amount equal up to the sum of (x) the Nominal Liquidation Amount Deficitexcess, if any, and of the Reserve Fund Required Amount OVER the Reserve Fund Available Amount shall be deposited into the Reserve Fund or, (yii) for each Payment Date from the Overcollateralization Amount Deficitmonth preceding the Accumulation Period through the last Payment Date occurring in the Accumulation Period, an amount up to the excess, if any, of 125% of the Reserve Fund Required Amount OVER the Reserve Fund Available Amount shall be deposited into the Reserve Fund;
(f) sixth, to pay an amount equal to the Servicer any previously due and unpaid excess of the Series [o] Servicing Fee that had been waived 2003-2 Required Subordinated Amount OVER the Series 2003-2 Available Subordinated Amount will be distributed to the Transferor to increase the Series 2003-2 Available Subordinated Amount by the Servicer in its sole discretionamount so distributed;
(g) seventh, with the remaining during an Early Amortization, any Series [o] 2003-2 Available Interest Amounts that remain after giving effect to CLAUSES 3.01(a) through (f) above, shall be deposited into the Principal Funding Account for payment to the Series 2003-2 Noteholders in an amount up to the Collateral Amount of the Series 2003-2 Notes;
(h) eighth, any Series 2003-2 Available Interest Amounts that remain after giving effect to CLAUSES 3.01(a) through (g) above and reimbursement of waived Monthly Servicing Fee, if any, to be treated as Shared Excess Available Interest Amount for application in accordance with Section SECTION 3.17; and
(g) seventh, to the Issuer for distribution in respect of the Seller's Certificates pursuant to the Trust Agreement.
SECTION 3.02. Amounts to be Treated as Series [o] Available Interest Amount; Other Deposits to the Interest Funding Account. The following deposits and payments will be made on the following dates:
(a) Amounts to be Treated as Series [o] Available Interest Amount. In addition to the Interest Collections allocated to Series [o] pursuant to Section 501 of the Indenture, the following amounts shall be treated as part of the Series [o] Available Interest Amount for application in accordance with this Article III:12 SERIES 0000-0 XXXXXXXXX SUPPLEMENT
Appears in 1 contract
Samples: Indenture Supplement (CNH Wholesale Receivables Inc)
ALLOCATIONS, DEPOSITS AND PAYMENTS. SECTION 3.01. Allocations of Series [o] 2005-C Available Interest Amount. On each Payment Date, the Indenture Trustee will apply the Series [o] 2005-C Available Interest Amount as follows:
(a) first, if neither DCS nor any of its Affiliates is the Servicer, to pay the Series [o] 2005-C Servicing Fee, plus any previously due and unpaid Series [o] 2005-C Servicing Fee (to the extent it has not been waived by the Servicer for such Payment Date) to the Servicer;
(b) second, to deposit to the Interest Funding Account an amount equal to (i) the product of (A) a fraction, the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360, times (B) the Series [o] 2005-C Note Interest Rate applicable to the related Interest Period, times (C) the Outstanding Dollar Principal Amount of the Series [o] 2005-C Notes determined as of the Record Date preceding the related Payment Date (the "Series [o] 2005-C Monthly Interest"), plus (ii) an amount equal to the excess, if any, of the aggregate amount accrued pursuant to this Section 3.01(b) as of prior Interest Periods over the aggregate amount of interest paid to the Series [o] 2005-C Noteholders pursuant to this Section 3.01(b) in respect of such prior Interest Periods, together with interest at the Series [o] 2005-C Note Interest Rate on such delinquent amount, to the extent permitted by applicable law;
(c) third, if DCS or any of its Affiliates is the Servicer, to pay the Series [o] 2005-C Servicing Fee plus any previously due and unpaid Series [o] 2005-C Servicing Fee (to the extent it has not been waived by the Servicer for such Payment Date) to the Servicer;
(d) fourth, to be treated as part of the Series [o] 2005-C Available Principal Amount for application in accordance with Section 3.05 in an amount equal to the Series [o] 2005-C Investor Default Amount, if any, for the preceding Monthly Period;
(e) fifth, to be treated as part of the Series [o] 2005-C Available Principal Amount for application in accordance with Section 3.05 in an amount equal to the sum of (x) the Nominal Liquidation Amount Deficit, if any, and (y) the Overcollateralization Amount Deficit, if any;
(f) sixth, to pay to the Servicer any previously due and unpaid Series [o] 2005-C Servicing Fee that had been waived by the Servicer in its sole discretion, with the remaining Series [o] 2005-C Available Interest Amount to be treated as Shared Excess Available Interest Amount for application in accordance with Section 3.17; and
(g) seventh, to the Issuer for distribution in respect of the Seller's Certificates pursuant to the Trust Agreement.
SECTION 3.02. Amounts to be Treated as Series [o] 2005-C Available Interest Amount; Other Deposits to the Interest Funding Account. The following deposits and payments will be made on the following dates:
(a) Amounts to be Treated as Series [o] 2005-C Available Interest Amount. In addition to the Interest Collections allocated to Series [o] 2005-C pursuant to Section 501 of the Indenture, the following amounts shall be treated as part of the Series [o] 2005-C Available Interest Amount for application in accordance with this Article III:
Appears in 1 contract
Samples: Indenture Supplement (Daimlerchrysler Master Owner Trust)
ALLOCATIONS, DEPOSITS AND PAYMENTS. SECTION 3.01. Allocations of Series [o] 2004-B Available Interest Amount. On each Payment Date, the Indenture Trustee will apply the Series [o] 2004-B Available Interest Amount as follows:
(a) first, if neither DCS nor any of its Affiliates is the Servicer, to pay the Series [o] 2004-B Servicing Fee, plus any previously due and unpaid Series [o] 2004-B Servicing Fee (to the extent it has not been waived by the Servicer for such Payment Date) to the Servicer;
(b) second, to deposit to the Interest Funding Account an amount equal to (i) the product of (A) a fraction, the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360, times (B) the Series [o] 2004-B Note Interest Rate applicable to the related Interest Period, times (C) the Outstanding Dollar Principal Amount of the Series [o] 2004-B Notes determined as of the Record Date preceding the related Payment Date (the "Series [o] 2004-B Monthly Interest"), plus (ii) an amount equal to the excess, if any, of the aggregate amount accrued pursuant to this Section 3.01(b) as of prior Interest Periods over the aggregate amount of interest paid to the Series [o] 2004-B Noteholders pursuant to this Section 3.01(b) in respect of such prior Interest Periods, together with interest at the Series [o] 2004-B Note Interest Rate on such delinquent amount, to the extent permitted by applicable law;
(c) third, if DCS or any of its Affiliates is the Servicer, to pay the Series [o] 2004-B Servicing Fee plus any previously due and unpaid Series [o] 2004-B Servicing Fee (to the extent it has not been waived by the Servicer for such Payment Date) to the Servicer;
(d) fourth, to be treated as part of the Series [o] 2004-B Available Principal Amount for application in accordance with Section 3.05 in an amount equal to the Series [o] 2004-B Investor Default Amount, if any, for the preceding Monthly Period;
(e) fifth, to be treated as part of the Series [o] 2004-B Available Principal Amount for application in accordance with Section 3.05 in an amount equal to the sum of (x) the Nominal Liquidation Amount Deficit, if any, and (y) the Overcollateralization Amount Deficit, if any;
(f) sixth, to pay to the Servicer any previously due and unpaid Series [o] 2004-B Servicing Fee that had been waived by the Servicer in its sole discretion, with the remaining Series [o] 2004-B Available Interest Amount to be treated as Shared Excess Available Interest Amount for application in accordance with Section 3.17; and
(g) seventh, to the Issuer for distribution in respect of the Seller's Certificates pursuant to the Trust AgreementIssuer.
SECTION 3.02. Amounts to be Treated as Series [o] 2004-B Available Interest Amount; Other Deposits to the Interest Funding Account. The following deposits and payments will be made on the following dates:
(a) Amounts to be Treated as Series [o] 2004-B Available Interest Amount. In addition to the Available Interest Collections Amount allocated to Series [o] 2004-B pursuant to Section 501 of the Indenture, the following amounts shall be treated as part of the Series [o] 2004-B Available Interest Amount for application in accordance with this Article III:
Appears in 1 contract
Samples: Indenture Supplement (Daimlerchrysler Master Owner Trust)
ALLOCATIONS, DEPOSITS AND PAYMENTS. SECTION 3.01. Allocations of Series [o] Available Interest Amount0000-X Xxxxxxxxx Xxxxxxxx Xxxxxx. On Xx each Payment Date, the Indenture Trustee will apply the Series [o] 2005-A Available Interest Amount as follows:
(a) first, if neither DCS nor any of its Affiliates is the Servicer, to pay the Series [o] 2005-A Servicing Fee, plus any previously due and unpaid Series [o] 2005-A Servicing Fee (to the extent it has not been waived by the Servicer for such Payment Date) to the Servicer;
(b) second, to deposit to the Interest Funding Account an amount equal to (i) the product of (A) a fraction, the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360, times (B) the Series [o] 2005-A Note Interest Rate applicable to the related Interest Period, times (C) the Outstanding Dollar Principal Amount of the Series [o] 2005-A Notes determined as of the Record Date preceding the related Payment Date (the "Series [o] 2005-A Monthly Interest"), plus (ii) an amount equal to the excess, if any, of the aggregate amount accrued pursuant to this Section 3.01(b) as of prior Interest Periods over the aggregate amount of interest paid to the Series [o] 2005-A Noteholders pursuant to this Section 3.01(b) in respect of such prior Interest Periods, together with interest at the Series [o] 2005-A Note Interest Rate on such delinquent amount, to the extent permitted by applicable law;
(c) third, if DCS or any of its Affiliates is the Servicer, to pay the Series [o] 2005-A Servicing Fee plus any previously due and unpaid Series [o] 2005-A Servicing Fee (to the extent it has not been waived by the Servicer for such Payment Date) to the Servicer;
(d) fourth, to be treated as part of the Series [o] 2005-A Available Principal Amount for application in accordance with Section 3.05 in an amount equal to the Series [o] 2005-A Investor Default Amount, if any, for the preceding Monthly Period;
(e) fifth, to be treated as part of the Series [o] 2005-A Available Principal Amount for application in accordance with Section 3.05 in an amount equal to the sum of (x) the Nominal Liquidation Amount Deficit, if any, and (y) the Overcollateralization Amount Deficit, if any;
(f) sixth, to pay to the Servicer any previously due and unpaid Series [o] 2005-A Servicing Fee that had been waived by the Servicer in its sole discretion, with the remaining Series [o] 2005-A Available Interest Amount to be treated as Shared Excess Available Interest Amount for application in accordance with Section 3.17; and
(g) seventh, to the Issuer for distribution in respect of the Seller's Certificates pursuant to the Trust Agreement.
SECTION 3.02. Amounts to be Treated as Series [o] 2005-A Available Interest Amount; Other Deposits to the Interest Funding Account. The following deposits and payments will be made on the following dates:
(a) Amounts to be Treated as Series [o] 2005-A Available Interest Amount. In addition to the Interest Collections allocated to Series [o] 2005-A pursuant to Section 501 of the Indenture, the following amounts shall be treated as part of the Series [o] 2005-A Available Interest Amount for application in accordance with this Article III:
Appears in 1 contract
Samples: Indenture Supplement (Daimlerchrysler Wholesale Receivables LLC)