Common use of Allocations During the Revolving Period Clause in Contracts

Allocations During the Revolving Period. During the Revolving Period an amount equal to the product of the Allocation Percentage and the aggregate amount of Principal Collections processed on such Date of Processing, shall be allocated to the Series 2015-1 Noteholders and first, an amount equal to the Reallocated Principal Collections for the related Transfer Date shall be made available on that Transfer Date for application in accordance with Section 4.7, second, if any other Principal Sharing Series is outstanding and in its accumulation period or amortization period, shall be deposited and retained in the Principal Account for application, to the extent necessary, as Shared Principal Collections to other Principal Sharing Series on the related Payment Date, third, shall be deposited in the Excess Funding Account to the extent necessary so that the Free Equity Amount (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to be made on the following Payment Date) is not less than the Minimum Free Equity Amount and the Note Trust Principal Balance is not less than the Required Principal Balance (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to occur on or prior to the following Payment Date and any adjustment in the numerator used to calculate the Allocation Percentages with respect to any Series in connection with a principal payment to be made on or prior to the following Payment Date), and fourth, any remaining amounts shall be released to the holders of the Transferor Interest.

Allocations During the Revolving Period. During the Revolving Period an amount equal to the product of the Allocation Percentage and the aggregate amount of Principal Collections processed on such Date of Processing, shall be allocated to the Series 20152014-1 2 Noteholders and first, an amount equal to the Reallocated Principal Collections for the related Transfer Date shall be made available on that Transfer Date for application in accordance with Section 4.7, second, if any other Principal Sharing Series is outstanding and in its accumulation period or amortization period, shall be deposited and retained in the Principal Account for application, to the extent necessary, as Shared Principal Collections to other Principal Sharing Series on the related Payment Date, third, shall be deposited in the Excess Funding Account to the extent necessary so that the Free Equity Amount (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to be made on the following Payment Date) is not less than the Minimum Free Equity Amount and the Note Trust Principal Balance is not less than the Required Principal Balance (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to occur on or prior to the following Payment Date and any adjustment in the numerator used to calculate the Allocation Percentages with respect to any Series in connection with a principal payment to be made on or prior to the following Payment Date), and fourth, any remaining amounts shall be released to the holders of the Transferor Interest.

Allocations During the Revolving Period. During the Revolving Period an amount equal to the product of the Allocation Percentage and the aggregate amount of Principal Collections processed on such Date of Processing, shall be allocated to the Series 20152013-1 Noteholders and first, an amount equal to the Reallocated Principal Collections for the related Transfer Date shall be made available on that Transfer Date for application in accordance with Section 4.7, second, if any other Principal Sharing Series is outstanding and in its accumulation period or amortization period, shall be deposited and retained in the Principal Account for application, to the extent necessary, as Shared Principal Collections to other Principal Sharing Series on the related Payment Date, third, shall be deposited in the Excess Funding Account to the extent necessary so that the Free Equity Amount (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to be made on the following Payment Date) is not less than the Minimum Free Equity Amount and the Note Trust Principal Balance is not less than the Required Principal Balance (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to occur on or prior to the following Payment Date and any adjustment in the numerator used to calculate the Allocation Percentages with respect to any Series in connection with a principal payment to be made on or prior to the following Payment Date), and fourth, any remaining amounts shall be released to the holders of the Transferor Interest.

Allocations During the Revolving Period. During the Revolving Period an amount equal to the product of the Allocation Percentage and the aggregate amount of Principal Collections processed on such Date of Processing, shall be allocated to the Series 20152014-1 Noteholders and first, an amount equal to the Reallocated Principal Collections for the related Transfer Date shall be made available on that Transfer Date for application in accordance with Section 4.7, second, if any other Principal Sharing Series is outstanding and in its accumulation period or amortization period, shall be deposited and retained in the Principal Account for application, to the extent necessary, as Shared Principal Collections to other Principal Sharing Series on the related Payment Date, third, shall be deposited in the Excess Funding Account to the extent necessary so that the Free Equity Amount (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to be made on the following Payment Date) is not less than the Minimum Free Equity Amount and the Note Trust Principal Balance is not less than the Required Principal Balance (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to occur on or prior to the following Payment Date and any adjustment in the numerator used to calculate the Allocation Percentages with respect to any Series in connection with a principal payment to be made on or prior to the following Payment Date), and fourth, any remaining amounts shall be released to the holders of the Transferor Interest.

Allocations During the Revolving Period. During the Revolving Period an amount equal to the product of the Allocation Percentage and the aggregate amount of Principal Collections processed on such Date of Processing, shall be allocated to the Series 2015-1 2 Noteholders and first, an amount equal to the Reallocated Principal Collections for the related Transfer Date shall be made available on that Transfer Date for application in accordance with Section 4.7, second, if any other Principal Sharing Series is outstanding and in its accumulation period or amortization period, shall be deposited and retained in the Principal Account for application, to the extent necessary, as Shared Principal Collections to other Principal Sharing Series on the related Payment Date, third, shall be deposited in the Excess Funding Account to the extent necessary so that the Free Equity Amount (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to be made on the following Payment Date) is not less than the Minimum Free Equity Amount and the Note Trust Principal Balance is not less than the Required Principal Balance (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to occur on or prior to the following Payment Date and any adjustment in the numerator used to calculate the Allocation Percentages with respect to any Series in connection with a principal payment to be made on or prior to the following Payment Date), and fourth, any remaining amounts shall be released to the holders of the Transferor Interest.

Allocations During the Revolving Period. During the Revolving Period an amount equal to the product of the Allocation Percentage and the aggregate amount of Principal Collections processed on such Date of Processing, shall be allocated to the Series 20152012-1 4 Noteholders and first, an amount equal to the Reallocated Principal Collections for the related Transfer Date shall be made available on that Transfer Date for application in accordance with Section 4.7, second, if any other Principal Sharing Series is outstanding and in its accumulation period or amortization period, shall be deposited and retained in the Principal Account for application, to the extent necessary, as Shared Principal Collections to other Principal Sharing Series on the related Payment Date, third, shall be deposited in the Excess Funding Account to the extent necessary so that the Free Equity Amount (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to be made on the following Payment Date) is not less than the Minimum Free Equity Amount and the Note Trust Principal Balance is not less than the Required Principal Balance (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to occur on or prior to the following Payment Date and any adjustment in the numerator used to calculate the Allocation Percentages with respect to any Series in connection with a principal payment to be made on or prior to the following Payment Date), and fourth, any remaining amounts shall be released to the holders of the Transferor Interest.

Allocations During the Revolving Period. During the Revolving Period an amount equal to the product of the Allocation Percentage and the aggregate amount of Principal Collections processed on such Date of Processing, shall be allocated to the Series 20152011-1 Noteholders and first, an amount equal to the Reallocated Principal Collections for the related Transfer Date shall be made available on that Transfer Date for application in accordance with Section 4.7, second, if any other Principal Sharing Series is outstanding and in its accumulation period or amortization period, shall be deposited and retained in the Principal Account for application, to the extent necessary, as Shared Principal Collections to other Principal Sharing Series on the related Payment Date, third, shall be deposited in the Excess Funding Account to the extent necessary so that the Free Equity Amount (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to be made on the following Payment Date) is not less than the Minimum Free Equity Amount and the Note Trust Principal Balance is not less than the Required Principal Balance (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to occur on or prior to the following Payment Date and any adjustment in the numerator used to calculate the Allocation Percentages with respect to any Series in connection with a principal payment to be made on or prior to the following Payment Date), and fourth, any remaining amounts shall be released to the holders of the Transferor Interest.

Allocations During the Revolving Period. During the Revolving Period an amount equal to the product of the Allocation Percentage and the aggregate amount of Principal Collections processed on such Date of Processing, shall be allocated to the Series 20152012-1 3 Noteholders and first, an amount equal to the Reallocated Principal Collections for the related Transfer Date shall be made available on that Transfer Date for application in accordance with Section 4.7, second, if any other Principal Sharing Series is outstanding and in its accumulation period or amortization period, shall be deposited and retained in the Principal Account for application, to the extent necessary, as Shared Principal Collections to other Principal Sharing Series on the related Payment Date, third, shall be deposited in the Excess Funding Account to the extent necessary so that the Free Equity Amount (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to be made on the following Payment Date) is not less than the Minimum Free Equity Amount and the Note Trust Aggregate Principal Balance Receivables is not less than the Required Principal Balance (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to occur on or prior to the following Payment Date and any adjustment in the numerator used to calculate the Allocation Percentages with respect to any Series in connection with a principal payment to be made on or prior to the following Payment Date), and fourth, any remaining amounts shall be released to the holders of the Transferor Interest.

Allocations During the Revolving Period. During the Revolving Period an amount equal to the product of the Allocation Percentage and the aggregate amount of Principal Collections processed on such Date of Processing, shall be allocated to the Series 2015-1 [_____] Noteholders and first, an amount equal to the Reallocated Principal Collections for the related Transfer Date shall be made available on that Transfer Date for application in accordance with Section 4.7, second, if any other Principal Sharing Series is outstanding and in its accumulation period or amortization period, shall be deposited and retained in the Principal Account for application, to the extent necessary, as Shared Principal Collections to other Principal Sharing Series on the related Payment Date, third, shall be deposited in the Excess Funding Account to the extent necessary so that the Free Equity Amount (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to be made on the following Payment Date) is not less than the Minimum Free Equity Amount and the Note Trust Principal Balance is not less than the Required Principal Balance (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to occur on or prior to the following Payment Date and any adjustment in the numerator used to calculate the Allocation Percentages with respect to any Series in connection with a principal payment to be made on or prior to the following Payment Date), and fourth, any remaining amounts shall be released to the holders of the Transferor Interest.

Allocations During the Revolving Period. During the Revolving Period Period, an amount equal to the product of the Allocation Percentage and the aggregate amount of Principal Collections processed on such Date of Processing, Processing shall be allocated to the Series 20152013-1 VFN-2 Noteholders and first, retained in the Principal Account for application, to the extent necessary, as Optional Amortization Amounts (after giving effect to any unrestricted funds of the Issuer or the Transferor that are designated (in their sole discretion) to the Optional Amortization Amount), second, an amount equal to the Reallocated Principal Collections for the related Transfer Date shall be made available on that Transfer Date for application in accordance with Section 4.7, secondthird, if any other Principal Sharing Series is outstanding and in its accumulation period or amortization period, shall be deposited and retained in the Principal Account for application, to the extent necessary, as Shared Principal Collections to other Principal Sharing Series on the related Payment Date, thirdfourth, shall be deposited in the Excess Funding Account to the extent necessary so that the Free Equity Amount (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to be made on the following Payment Date) is not less than the Minimum Free Equity Amount and the Note Trust Principal Balance is not less than the Required Principal Balance (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to occur on or prior to the following Payment Date and any adjustment in the numerator used to calculate the Allocation Percentages with respect to any Series in connection with a principal payment to be made on or prior to the following Payment Date), and fourthfifth, any remaining amounts shall be released to the holders of the Transferor Interest.

Allocations During the Revolving Period. During the Revolving Period Period, an amount equal to the product of the Allocation Percentage and the aggregate amount of Principal Collections processed on such Date of Processing, Processing shall be allocated to the Series 20152013-1 VFN-1 Noteholders and first, retained in the Principal Account for application, to the extent necessary, as Optional Amortization Amounts (after giving effect to any unrestricted funds of the Issuer or the Transferor that are designated (in their sole discretion) to the Optional Amortization Amount), second, an amount equal to the Reallocated Principal Collections for the related Transfer Date shall be made available on that Transfer Date for application in accordance with Section 4.7, secondthird, if any other Principal Sharing Series is outstanding and in its accumulation period or amortization period, shall be deposited and retained in the Principal Account for application, to the extent necessary, as Shared Principal Collections to other Principal Sharing Series on the related Payment Date, thirdfourth, shall be deposited in the Excess Funding Account to the extent necessary so that the Free Equity Amount (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to be made on the following Payment Date) is not less than the Minimum Free Equity Amount and the Note Trust Principal Balance is not less than the Required Principal Balance (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to occur on or prior to the following Payment Date and any adjustment in the numerator used to calculate the Allocation Percentages with respect to any Series in connection with a principal payment to be made on or prior to the following Payment Date), and fourthfifth, any remaining amounts shall be released to the holders of the Transferor Interest.

Allocations During the Revolving Period. During the Revolving Period an amount equal to the product of the Allocation Percentage and the aggregate amount of Principal Collections processed on such Date of Processing, shall be allocated to the Series 20152012-1 2 Noteholders and first, an amount equal to the Reallocated Principal Collections for the related Transfer Date shall be made available on that Transfer Date for application in accordance with Section 4.7, second, if any other Principal Sharing Series is outstanding and in its accumulation period or amortization period, shall be deposited and retained in the Principal Account for application, to the extent necessary, as Shared Principal Collections to other Principal Sharing Series on the related Payment Date, third, shall be deposited in the Excess Funding Account to the extent necessary so that the Free Equity Amount (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to be made on the following Payment Date) is not less than the Minimum Free Equity Amount and the Note Trust Aggregate Principal Balance Receivables is not less than the Required Principal Balance (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to occur on or prior to the following Payment Date and any adjustment in the numerator used to calculate the Allocation Percentages with respect to any Series in connection with a principal payment to be made on or prior to the following Payment Date), and fourth, any remaining amounts shall be released to the holders holder of the Transferor Interest.

Allocations During the Revolving Period. During the Revolving Period an amount equal to the product of the Allocation Percentage and the aggregate amount of Principal Collections processed on such Date of Processing, shall be allocated to the Series 20152012-1 2 Noteholders and first, an amount equal to the Reallocated Principal Collections for the related Transfer Date shall be made available on that Transfer Date for application in accordance with Section 4.7, second, if any other Principal Sharing Series is outstanding and in its accumulation period or amortization period, shall be deposited and retained in the Principal Account for application, to the extent necessary, as Shared Principal Collections to other Principal Sharing Series on the related Payment Date, third, shall be deposited in the Excess Funding Account to the extent necessary so that the Free Equity Amount (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to be made on the following Payment Date) is not less than the Minimum Free Equity Amount and the Note Trust Principal Balance is not less than the Required Principal Balance (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to occur on or prior to the following Payment Date and any adjustment in the numerator used to calculate the Allocation Percentages with respect to any Series in connection with a principal payment to be made on or prior to the following Payment Date), and fourth, any remaining amounts shall be released to the holders holder of the Transferor Interest.

Allocations During the Revolving Period. During the Revolving Period an amount equal to the product of the Allocation Percentage and the aggregate amount of Principal Collections processed on such Date of Processing, shall be allocated to the Series 20152012-1 Noteholders and first, an amount equal to the Reallocated Principal Collections for the related Transfer Date shall be made available on that Transfer Date for application in accordance with Section 4.7, second, if any other Principal Sharing Series is outstanding and in its accumulation period or amortization period, shall be deposited and retained in the Principal Account for application, to the extent necessary, as Shared Principal Collections to other Principal Sharing Series on the related Payment Date, third, shall be deposited in the Excess Funding Account to the extent necessary so that the Free Equity Amount (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to be made on the following Payment Date) is not less than the Minimum Free Equity Amount and the Note Trust Aggregate Principal Balance Receivables is not less than the Required Principal Balance (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to occur on or prior to the following Payment Date and any adjustment in the numerator used to calculate the Allocation Percentages with respect to any Series in connection with a principal payment to be made on or prior to the following Payment Date), and fourth, any remaining amounts shall be released to the holders of the Transferor Interest.

Allocations During the Revolving Period. During the Revolving Period Period, an amount equal to the product of the Allocation Percentage and the aggregate amount of Principal Collections processed on such Date of Processing, Processing shall be allocated to the Series 20152011-1 A Noteholders and first, retained in the Principal Account for application, to the extent necessary, as Optional Amortization Amounts (after giving effect to any unrestricted funds of the Issuer or the Transferor that are designated (in their sole discretion) to the Optional Amortization Amount), second, an amount equal to the Reallocated Principal Collections for the related Transfer Date shall be made available on that Transfer Date for application in accordance with Section 4.7, secondthird, if any other Principal Sharing Series is outstanding and in its accumulation period or amortization period, shall be deposited and retained in the Principal Account for application, to the extent necessary, as Shared Principal Collections to other Principal Sharing Series on the related Payment Date, thirdfourth, shall be deposited in the Excess Funding Account to the extent necessary so that the Free Equity Amount (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to be made on the following Payment Date) is not less than the Minimum Free Equity Amount and the Note Trust Principal Balance is not less than the Required Principal Balance (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to occur on or prior to the following Payment Date and any adjustment in the numerator used to calculate the Allocation Percentages with respect to any Series in connection with a principal payment to be made on or prior to the following Payment Date), and fourthfifth, any remaining amounts shall be released to the holders of the Transferor Interest.

Allocations During the Revolving Period. During the Revolving Period Period, an amount equal to the product of the Allocation Percentage and the aggregate amount of Principal Collections processed on such Date of Processing, Processing shall be allocated to the Series 20152010-1 B Noteholders and first, an amount equal to the Reallocated Principal Collections for the related Transfer Date shall be made available on that Transfer Date for application in accordance with Section 4.7, second, if any other Principal Sharing Series is outstanding and in its accumulation period or amortization period, shall be deposited and retained in the Principal Account for application, to the extent necessary, as Shared Principal Collections to other Principal Sharing Series on the related Payment Date, third, shall be deposited in the Excess Funding Account to the extent necessary so that the Free Equity Amount (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to be made on the following Payment Date) is not less than the Minimum Free Equity Amount and the Note Trust Aggregate Principal Balance Receivables is not less than the Required Principal Balance (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to occur on or prior to the following Payment Date and any adjustment in the numerator used to calculate the Allocation Percentages with respect to any Series in connection with a principal payment to be made on or prior to the following Payment Date), and fourth, any remaining amounts shall be released to the holders of the Transferor Interest.

Allocations During the Revolving Period. During the Revolving Period an amount equal to the product of the Allocation Percentage and the aggregate amount of Principal Collections processed on such Date of Processing, shall be allocated to the Series 20152012-1 Noteholders and first, an amount equal to the Reallocated Principal Collections for the related Transfer Date shall be made available on that Transfer Date for application in accordance with Section 4.7, second, if any other Principal Sharing Series is outstanding and in its accumulation period or amortization period, shall be deposited and retained in the Principal Account for application, to the extent necessary, as Shared Principal Collections to other Principal Sharing Series on the related Payment Date, third, shall be deposited in the Excess Funding Account to the extent necessary so that the Free Equity Amount (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to be made on the following Payment Date) is not less than the Minimum Free Equity Amount and the Note Trust Principal Balance is not less than the Required Principal Balance (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to occur on or prior to the following Payment Date and any adjustment in the numerator used to calculate the Allocation Percentages with respect to any Series in connection with a principal payment to be made on or prior to the following Payment Date), and fourth, any remaining amounts shall be released to the holders of the Transferor Interest.

Allocations During the Revolving Period. During the Revolving Period an amount equal to the product of the Allocation Percentage and the aggregate amount of Principal Collections processed on such Date of Processing, shall be allocated to the Series 20152011-1 Noteholders and first, an amount equal to the Reallocated Principal Collections for the related Transfer Date shall be made available on that Transfer Date for application in accordance with Section 4.7, second, if any other Principal Sharing Series is outstanding and in its accumulation period or amortization period, shall be deposited and retained in the Principal Account for application, to the extent necessary, as Shared Principal Collections to other Principal Sharing Series on the related Payment Date, third, shall be deposited in the Excess Funding Account to the extent necessary so that the Free Equity Amount (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to be made on the following Payment Date) is not less than the Minimum Free Equity Amount and the Note Trust Aggregate Principal Balance Receivables is not less than the Required Principal Balance (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to occur on or prior to the following Payment Date and any adjustment in the numerator used to calculate the Allocation Percentages with respect to any Series in connection with a principal payment to be made on or prior to the following Payment Date), and fourth, any remaining amounts shall be released to the holders of the Transferor Interest.

Allocations During the Revolving Period. During the Revolving Period Period, an amount equal to the product of the Allocation Percentage and the aggregate amount of Principal Collections processed on such Date of Processing, Processing shall be allocated to the Series 20152010-1 B Noteholders and first, an amount equal to the Reallocated Principal Collections for the related Transfer Date shall be made available on that Transfer Date for application in accordance with Section 4.7, second, if any other Principal Sharing Series is outstanding and in its accumulation period or amortization period, shall be deposited and retained in the Principal Account for application, to the extent necessary, as Shared Principal Collections to other Principal Sharing Series on the related Payment Date, third, shall be deposited in the Excess Funding Account to the extent necessary so that the Free Equity Amount (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to be made on the following Payment Date) is not less than the Minimum Free Equity Amount and the Note Trust Principal Balance is not less than the Required Principal Balance (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to occur on or prior to the following Payment Date and any adjustment in the numerator used to calculate the Allocation Percentages with respect to any Series in connection with a principal payment to be made on or prior to the following Payment Date), and fourth, any remaining amounts shall be released to the holders of the Transferor Interest.

Allocations During the Revolving Period. During the Revolving Period Period, an amount equal to the product of the Allocation Percentage and the aggregate amount of Principal Collections processed on such Date of Processing, Processing shall be allocated to the Series 20152009-1 B Noteholders and first, an amount equal to the Reallocated Principal Collections for the related Transfer Date shall be made available on that Transfer Date for application in accordance with Section 4.7, second, if any other Principal Sharing Series is outstanding and in its accumulation period or amortization period, shall be deposited and retained in the Principal Account for application, to the extent necessary, as Shared Principal Collections to other Principal Sharing Series on the related Payment Date, third, shall be deposited in the Excess Funding Account to the extent necessary so that the Free Equity Amount (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to be made on the following Payment Date) is not less than the Minimum Free Equity Amount and the Note Trust Aggregate Principal Balance Receivables is not less than the Required Principal Balance (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to occur on or prior to the following Payment Date and any adjustment in the numerator used to calculate the Allocation Percentages with respect to any Series in connection with a principal payment to be made on or prior to the following Payment Date), and fourth, any remaining amounts shall be released to the holders of the Transferor Interest.

Allocations During the Revolving Period. During the Revolving Period an amount equal to the product of the Allocation Percentage and the aggregate amount of Principal Collections processed on such Date of Processing, shall be allocated to the Series 20152012-1 4 Noteholders and first, an amount equal to the Reallocated Principal Collections for the related Transfer Date shall be made available on that Transfer Date for application in accordance with Section 4.7, second, if any other Principal Sharing Series is outstanding and in its accumulation period or amortization period, shall be deposited and retained in the Principal Account for application, to the extent necessary, as Shared Principal Collections to other Principal Sharing Series on the related Payment Date, third, shall be deposited in the Excess Funding Account to the extent necessary so that the Free Equity Amount (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to be made on the following Payment Date) is not less than the Minimum Free Equity Amount and the Note Trust Aggregate Principal Balance Receivables is not less than the Required Principal Balance (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to occur on or prior to the following Payment Date and any adjustment in the numerator used to calculate the Allocation Percentages with respect to any Series in connection with a principal payment to be made on or prior to the following Payment Date), and fourth, any remaining amounts shall be released to the holders of the Transferor Interest.

Allocations During the Revolving Period. During the Revolving Period an amount equal to the product of the Allocation Percentage and the aggregate amount of Principal Collections processed on such Date of Processing, shall be allocated to the Series 20152012-1 3 Noteholders and first, an amount equal to the Reallocated Principal Collections for the related Transfer Date shall be made available on that Transfer Date for application in accordance with Section 4.7, second, if any other Principal Sharing Series is outstanding and in its accumulation period or amortization period, shall be deposited and retained in the Principal Account for application, to the extent necessary, as Shared Principal Collections to other Principal Sharing Series on the related Payment Date, third, shall be deposited in the Excess Funding Account to the extent necessary so that the Free Equity Amount (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to be made on the following Payment Date) is not less than the Minimum Free Equity Amount and the Note Trust Principal Balance is not less than the Required Principal Balance (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to occur on or prior to the following Payment Date and any adjustment in the numerator used to calculate the Allocation Percentages with respect to any Series in connection with a principal payment to be made on or prior to the following Payment Date), and fourth, any remaining amounts shall be released to the holders of the Transferor Interest.

Allocations During the Revolving Period. During the Revolving Period Period, an amount equal to the product of the Allocation Percentage and the aggregate amount of Principal Collections processed on such Date of Processing, Processing shall be allocated to the Series 20152009-1 B Noteholders and first, an amount equal to the Reallocated Principal Collections for the related Transfer Date shall be made available on that Transfer Date for application in accordance with Section 4.7, second, if any other Principal Sharing Series is outstanding and in its accumulation period or amortization period, shall be deposited and retained in the Principal Account for application, to the extent necessary, as Shared Principal Collections to other Principal Sharing Series on the related Payment Date, third, shall be deposited in the Excess Funding Account to the extent necessary so that the Free Equity Amount (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to be made on the following Payment Date) is not less than the Minimum Free Equity Amount and the Note Trust Principal Balance is not less than the Required Principal Balance (calculated on a pro forma basis after giving effect to any payment of principal on the Notes to occur on or prior to the following Payment Date and any adjustment in the numerator used to calculate the Allocation Percentages with respect to any Series in connection with a principal payment to be made on or prior to the following Payment Date), and fourth, any remaining amounts shall be released to the holders of the Transferor Interest.