Allocations of Net Clause Samples

Allocations of Net. Profit and Net Loss With Respect to the Residual Business. (a) [Intentionally Omitted]

Allocations of Net. Proceeds with Respect to the Series 2019-1 Notes; Interest Reserve Letter of Credit. (a) On the Series 2019-1 Closing Date, (i) the net proceeds from the issuance and sale of the Series 2019-1 Class A-2 Notes to the Initial Purchasers shall be paid to, or at the direction of, the Co-Issuers and (ii) the Co-Issuers shall ensure that the aggregate sum of (x) all cash on deposit in the Senior Notes Interest Reserve Account (if any) and (y) the aggregate undrawn and unexpired face amount of each Interest Reserve Letter of Credit (if any) is equal to the Senior Notes Interest Reserve Amount. (b) On and after the Series 2019-1 Closing Date, proceeds of the Series 2019-1 Class A-1 Notes (including Letters of Credit) may be used for general corporate purposes of the Securitization Entities and the Non-Securitization Entities, including the making of distributions and the funding of acquisitions by any Securitization Entity or Non-Securitization Entity, subject to the terms of the Base Indenture, including Section 8.18 thereof.

Allocations of Net. Proceeds with Respect to the Series 2018-1 Class A-1 Notes;

Allocations of Net. Proceeds with Respect to the Series 2020-1 Notes; Interest Reserve Letter of Credit. (a) On the Series 2020-1 Closing Date, (i) the net proceeds from the issuance and sale of the Series 2020-1 Class A-2 Notes to the Initial Purchasers shall be paid to, or at the direction of, the Issuer and (ii) the Issuer shall apply such net proceeds to, among other things, make an initial deposit into the Senior Notes Interest Reserve Account and/or arrange for the issuance of an Interest Reserve Letter of Credit in an aggregate then undrawn and unexpired face amount equal to or, at the election of the Manager, greater than the Initial Senior Notes Interest Reserve Deposit. (b) On and after the Series 2020-1 Closing Date, proceeds of the Series 2020-1 Class A-1 Notes (including Letters of Credit) may be used for any purpose, subject to Section 8.01(l) of the Series 2020-1 Class A-1 Note Purchase Agreement.

Allocations of Net. Profit and Net Loss. Except as otherwise provided in this Agreement, including Section 4.3, Net Profits and Net Losses (and, to the extent necessary, individual items of income, gain, loss, deduction or credit of the Company) shall be allocated among the Capital Accounts of the Members in a manner such that, after such allocations have been made, the balance of each Member’s Capital Account is, as nearly as possible, equal to (a) the amount that would be distributed to such Member if the Company were to sell all of its assets for the Book Value thereof, satisfy all of its liabilities in cash in accordance with their terms (limited with respect to each nonrecourse liability to the Book Value of the assets securing such liability), and distribute all remaining or resulting cash pursuant to Section 13.2 (assuming all Units are fully vested for this purpose), minus (b) the Member’s share of Company Minimum Gain and Member Nonrecourse Debt Minimum Gain, computed immediately prior to the hypothetical sale of assets, and (without duplication) the amount any such Member is treated as obligated to contribute to the Company, computed immediately after the hypothetical sale of assets. Notwithstanding the foregoing, the Managing Member in its sole discretion shall make allocations for tax purposes as may be needed to ensure that allocations are in accordance with the interests of the Members within the meaning of the Code and Treasury Regulations.