Common use of Allocations of Collections to the Seller Clause in Contracts

Allocations of Collections to the Seller. (a) Subject to Sections 4.04(c) and (d), the Servicer shall instruct the Trustee on each Deposit Date to withdraw an amount equal to the Seller's Percentage for the related Collection Period of Interest Collections deposited in the Collection Account for such Deposit Date (the "Seller's Interest Collections") and to release such Seller's Interest Collections to the Trust for distribution in respect of the Seller's Certificates pursuant to the Trust Agreement. (b) Subject to Section 4.04(c) and (d), the Servicer shall instruct the Trustee on each Deposit Date to withdraw an amount equal to the Seller's Percentage for the related Collection Period of Principal Collections deposited in the Collection Account for such Deposit Date (the "Seller's Principal Collections") and to release such Seller's Principal Collections to the Trust for distribution in respect of the Seller's Certificates pursuant to the Trust Agreement, so long as the Pool Balance (determined after giving effect to any Principal Receivables transferred to the Trust on such Payment Date) equals or exceeds the Aggregate Series Nominal Liquidation Amount for the immediately preceding Determination Date (after giving effect to the allocations, distributions, withdrawals and deposits to be made on such Payment Date); it being understood that any Seller's Principal Collections not otherwise released to the Trust as a result of the condition specified in this Section 4.04(b) shall be retained in the Collection Account and included as part of the Unallocated Principal Collections held therein. (c) The withdrawals to be made from the Collection Account pursuant to Section 4.04(a) or (b) do not apply to deposits into the Collection Account that do not represent Collections, including Miscellaneous Payments, payment of the purchase price for the Noteholders' Interest pursuant to Section 2.03, and proceeds from the sale, disposition or liquidation of Receivables pursuant to an exercise of the "Put Feature" under and as defined in the Indenture or any Indenture Supplement. (d) Notwithstanding Section 4.04(a) or (b), with respect to each Payment Date the Servicer shall instruct the Trustee to retain the Note PFA Earnings Shortfall for such Payment Date from the amounts that would otherwise be released to the Trust for distribution in respect of the Seller's Certificates pursuant to the Trust Agreement and to apply such Note PFA Earnings Shortfall under the Indenture Supplements.