Common use of Allocations of Collections During the Series 2004-1 Revolving Period Clause in Contracts

Allocations of Collections During the Series 2004-1 Revolving Period. During the Series 2004-1 Revolving Period, the Administrator will direct the Trustee in writing pursuant to the Administration Agreement, prior to 1:00 p.m. (New York City time) on each Series 2004-1 Deposit Date, to apply all amounts deposited into the Collection Account as set forth below: (i) deposit into the Series 2004-1 Collection Account an amount equal to the sum of (A) the Series 2004-1 Invested Percentage (as of such day) of the aggregate amount of Interest Collections on such day and (B) any amounts received by the Trustee in respect of the Series 2004-1 Interest Rate Xxxxxx. All such amounts deposited into the Series 2004-1 Collection Account shall thereafter be deposited into the Series 2004-1 Accrued Interest Account; and (ii) deposit into the Series 2004-1 Excess Collection Account an amount equal to the Series 2004-1 Invested Percentage (as of such day) of the aggregate amount of Principal Collections on such day (for any such day, the “Series 2004-1 Principal Allocation”); provided, however, if a Waiver Event shall have occurred, then such application shall be modified as provided in Article IV.