Common use of Allocations of Principal Collections Clause in Contracts

Allocations of Principal Collections. (a) On each date on which Collections are deposited into the Collection Account, the Indenture Trustee shall allocate the Principal Collections deposited on such date among each Series of Notes and the Transferor Interest in accordance with directions provided by the Servicer in the Daily Servicer’s Certificate. The Principal Collections shall be allocated as follows: (i) Principal Collections shall be allocated to the holders of the Transferor Interest in an amount equal to the product of (A) the Transferor Percentage for the date of determination and (B) the Principal Collections deposited into the Collection Account on such date. (ii) Principal Collections shall be allocated to each Series of Notes in an amount equal to the product of (A) the Principal Allocation Percentage for such Series (for such date of determination) and (B) the Principal Collections deposited into the Collection Account on such date. (b) The amount of Principal Collections allocated to the Transferor Interest on any date pursuant to Section 5.05(a)(i) shall be paid by the Indenture Trustee to the holders of the Transferor Interest not later than the following Business Day as directed by the Servicer; provided, however, that amounts allocated to the holders of the Transferor Interest pursuant to Section 5.05(a)(i) and payable to the holders of the Transferor Interest shall instead be deposited into the Excess Funding Account on the following Business Day to the extent that (x) the Transferor Amount is, or as a result of such payment would become, less than the Required Transferor Amount or (y) the Pool Balance is, or as a result of such payment would become, less than the Required Pool Balance.

Allocations of Principal Collections. (a) On each date on which Collections are deposited into the Collection Account, the Indenture Trustee The Servicer shall allocate to the Principal Collections deposited on such date among each Series of Notes 2002-1 Noteholders and to the Transferor Interest in accordance with directions provided by O/C Holder the Servicer in the Daily Servicer’s Certificate. The Principal Collections shall be allocated following amounts as followsset forth below: (iA) Principal Collections shall be allocated to Allocations During the holders of Revolving Period. During the Transferor Interest in Revolving Period an amount equal to the product of (AI) the Transferor Investor Percentage for the date of determination and (BII) the aggregate amount of Collections of Principal Collections Receivables deposited into in the Collection Account on such date. (ii) Principal Collections Deposit Date, shall be allocated to each the Series of Notes 2002-1 Noteholders and retained in the Collection Account until applied as provided herein. (B) Allocations During the Controlled Accumulation Period. During the Controlled Accumulation Period an amount equal to the product of (AI) the Principal Allocation Investor Percentage for such Series (for such date of determination) and (BII) the aggregate amount of Collections of Principal Collections Receivables deposited into in the Collection Account on such date. (b) The amount of Principal Collections Deposit Date shall be allocated to the Transferor Interest on any date pursuant Series 2002-1 Noteholders and deposited in the Principal Funding Account until applied as provided herein; provided, however, that if such Collections with respect to Section 5.05(a)(i) such Due Period exceed the Controlled Deposit Amount for the related Distribution Date then such excess shall be first, retained in the Collection Account for application to reduce the O/C Amount to the Required O/C Amount, second, if any other Principal Sharing Series in Principal Sharing Group One is outstanding and in its amortization period or accumulation period, retained in the Collection Account for application, to the extent necessary, as Shared Principal Collections to other Series in Principal Sharing Group One on the related Distribution Date, and third paid by the Indenture Trustee to the holders of the Transferor Interest not later Certificates only if the Transferor Amount on such Deposit Date is greater than the following Business Day Required Transferor Amount (after giving effect to all Principal Receivables transferred to the Trust on such day) and otherwise shall be deposited in the Special Funding Account for Pool One. (C) Allocations During the Early Amortization Period. During the Early Amortization Period, an amount equal to the product of (I) the Investor Percentage and (II) the aggregate amount of Collections of Principal Receivables deposited in the Collection Account on such Deposit Date, shall be allocated to the Series 2002-1 Noteholders and retained in the Collection Account until applied as directed by the Servicerprovided herein; provided, however, that amounts after the date on which an amount of such Collections equal to the Note Principal Balance has been deposited into the Collection Account and allocated to the Series 2002-1 Noteholders, the excess over such amount shall be first, retained in the Collection Account for application to reduce the O/C Amount to the Required O/C Amount, second, if any other Principal Sharing Series in Principal Sharing Group One is outstanding and in its amortization period or accumulation period, retained in the Collection Account for application, to the extent necessary, as Shared Principal Collections on the related Distribution Date, and third paid to the holders of the Transferor Interest pursuant to Section 5.05(a)(i) and payable to the holders of the Transferor Interest shall instead be deposited into the Excess Funding Account on the following Business Day to the extent that (x) Certificates only if the Transferor Amount is, or as a result of on such payment would become, less date is greater than the Required Transferor Amount or (yafter giving effect to all Principal Receivables transferred to the Trust on such day) and otherwise shall be deposited in the Special Funding Account for Pool Balance is, or as a result of such payment would become, less than the Required Pool BalanceOne.

Allocations of Principal Collections. The Servicer shall allocate to the Series 2000-2 Certificateholders the following amounts as set forth below: (a) On each date on which Collections are deposited into Allocations During the Collection Account, Revolving Period. During the Indenture Trustee shall allocate the Principal Collections deposited on such date among each Series of Notes and the Transferor Interest in accordance with directions provided by the Servicer in the Daily Servicer’s Certificate. The Principal Collections shall be allocated as follows: Revolving Period (iA) Principal Collections shall be allocated to the holders of the Transferor Interest in an amount equal to the product of (AI) the Transferor sum of the Class B Principal Percentage for and the date of determination Collateral Principal Percentage and (BII) the Principal Allocation Percentage and (III) the Series 2000-2 Allocation Percentage and (IV) the aggregate amount of Collections of Principal Receivables deposited into in the Collection Account on such date. (ii) Principal Collections Deposit Date, shall be allocated to each the Series of Notes 2000-2 Certificateholders and retained in the Collection Account until applied as provided herein and (B) an amount equal to the product of (AI) the Class A Principal Percentage and (II) the Principal Allocation Percentage for such Series (for such date of determination) and (BIII) the Series 2000-2 Allocation Percentage and (IV) the aggregate amount of Collections of Principal Collections Receivables deposited into in the Collection Account on such date. (b) The amount of Principal Collections Deposit Date shall be allocated to the Transferor Interest on Series 2000-2 Certificateholders and, to the extent needed to make any date distribution pursuant to Section 5.05(a)(i) shall be paid by subsection 4.05(d)(i), deposited in the Indenture Trustee Collection Account, and otherwise first, if any other Principal Sharing Series is outstanding and in its amortization period or accumulation period, retained in the Collection Account for application, to the holders extent necessary, as Shared Principal Collections on the related Distribution Date, and second paid to the Holders of the Transferor Interest not later than the following Business Day as directed by the ServicerCertificates; provided, however, that amounts allocated such amount to be paid to the holders Holders of the Transferor Interest pursuant Certificates on any Deposit Date shall be paid to Section 5.05(a)(i) and payable to the holders of the Transferor Interest shall instead be deposited into the Excess Funding Account on the following Business Day to the extent that (x) such Holders only if the Transferor Amount is, or as a result of on such payment would become, less Deposit Date is greater than the Required Transferor Amount or (yafter giving effect to all Principal Receivables transferred to the Trust on such day) and otherwise shall be deposited in the Pool Balance is, or as a result of such payment would become, less than the Required Pool BalanceSpecial Funding Account.