Common use of Amounts in Excess Funding Account Clause in Contracts

Amounts in Excess Funding Account. Amounts on deposit in the Excess Funding Account on any Business Day will be invested by the Servicer (or, at the direction of the Transferor, by the Trustee) on behalf of the Transferor in Cash Equivalents which shall mature and be available on or before the next Business Day on which amounts may be released from the Excess Funding Account. Earnings from such investments received shall be deposited in the Collection Account and treated as Finance Charge Collections. Any investment instructions to the Trustee shall be in writing and shall include a certification that the proposed investment is a Cash Equivalent that matures at or prior to the date required by this Agreement. If on any Business Day other than a Business Day on which a Pay Out Event or a Prospective Pay Out Event has occurred and is continuing, the Transferor Interest is greater than the Minimum Transferor Interest, amounts on deposit in the Excess Funding Account may, at the option of the Transferor, be released to the Holder of the Exchangeable Transferor Security. On the first Business Day of the Amortization Period for any Series, funds on deposit in the Excess Funding Account will be deposited in the Principal Account for such Series to the extent of the lesser of (x) the Invested Amount of such Series and (y) the amount then on deposit in the Excess Funding Account. [THE REMAINDER OF ARTICLE IV IS RESERVED AND SHALL BE SPECIFIED IN ANY SUPPLEMENT WITH RESPECT TO ANY SERIES]

Amounts in Excess Funding Account. Amounts on deposit in the Excess Funding Account on any Business Day will shall be invested by the Servicer (or, at the direction of the Transferor, by the Trustee) on behalf of the Transferor Trustee in Cash Equivalents in accordance with written instructions from the Servicer (which instructions shall satisfy the requirements of subsection 4.2(d) with respect to instructions given thereunder) or, in the absence of such instructions, in the Designated Cash Equivalent. Any such investment shall mature and such funds shall be available for withdrawal on or before prior to the next Business Day on which amounts may be released from the Excess Funding Account. Earnings from such investments received All interest and earnings (net of losses and investment expenses) on funds on deposit in the Excess Funding Account shall be deposited in the Collection Account and treated as Finance Charge Imputed Yield Collections. Any investment instructions , such deposit to be made no later than the Trustee shall be last day of the Monthly Period in writing and shall include a certification that the proposed investment is a Cash Equivalent that matures at or prior to the date required by this Agreementwhich such earnings arise. If on any Business Day other than a Business Day on which a Pay Out a Pay- Out-Event or a Prospective Pay Out Pay-Out-Event has occurred and is continuing, the Transferor Interest (after giving effect to any amounts excluded therefrom pursuant to any Supplement) is greater than the Minimum Transferor Interest, amounts on deposit in the Excess Funding Account may, at the option of the Transferor, be released to the Holder of the Exchangeable Transferor SecurityCertificate to the extent of such excess. On the first Business Day of the Rapid Amortization Period for any Series, funds on deposit in the Excess Funding Account will shall be deposited in into the Principal Distribution Account for such Series to the extent of the lesser of (xi) the Invested Amount of such Series and (yii) the amount then on deposit in the Excess Funding Account, provided, that if any other Series is then outstanding, such deposit into the Distribution Account shall be limited to an amount equal to the Series Allocation Percentage (for the Series beginning its Rapid Amortization Period) of the amount then on deposit in the Excess Funding Account if, after giving effect to a deposit of the full amount, the Transferor Interest would be less than the Minimum Transferor Interest. In the event that more than one Series begins its Rapid Amortization Period at the same time, subject to the proviso to the preceding sentence amounts shall be paid out of the Excess Funding Account to each such Series pro rata based on the Investor Percentage for Principal Collections applicable for such Series. [THE REMAINDER OF ARTICLE IV IS RESERVED AND SHALL BE SPECIFIED IN ANY SUPPLEMENT WITH RESPECT TO ANY SERIES] [End of Article IV]

Amounts in Excess Funding Account. Amounts on deposit in the Excess Funding Account on any Business Day will be invested by the Servicer (or, at the direction of the Transferor, by the Trustee) on behalf of the Transferor in Cash Equivalents which shall mature and be available on or before the next Business Day on which amounts may be released from the Excess Funding Account. Earnings from such investments received shall be deposited in the Collection Account and treated as Finance Charge Collections. Any Each investment instructions to the Trustee shall be in writing and shall include a certification Cash Equivalents that the proposed investment is a Cash Equivalent that matures mature at or prior to the date required by this Agreement. If on any Business Day other than a Business Day on which a Pay Out Event or a Prospective Pay Out Event has occurred and is continuing, the Transferor Interest is greater than the Minimum Transferor Interest, amounts on deposit in the Excess Funding Account may, at the option of the Transferor, be released to the Holder of the Exchangeable Transferor Security. On and after the first Business Day of the Amortization Period for any Series, funds on deposit in the Excess Funding Account will be deposited in the Principal Account for such Series to the extent of the lesser of (x) the Invested Amount of Principal Shortfall for such Series and (y) the amount then on deposit in the Excess Funding Account. If more than one Series is in its Amortization Period on any date, funds on deposit in the Excess Funding Account will be applied in accordance with subsection 4.3(e) as if they were Shared Principal Collections. [THE REMAINDER OF ARTICLE IV IS RESERVED AND SHALL BE SPECIFIED IN ANY SUPPLEMENT WITH RESPECT TO ANY SERIES] [End of Article IV]

Amounts in Excess Funding Account. Amounts on deposit in the Excess Funding Account on any Business Day will be invested by the Servicer (or, at the direction of the Transferor, by the Trustee) on behalf of the Transferor in Cash Equivalents which shall mature and be available on or before the next Business Day on which amounts may be released from the Excess Funding Account. Earnings from such investments received shall be deposited in the Collection Account and treated as Finance Charge Collections. Any investment instructions to the Trustee shall be in writing and shall include a certification that the proposed investment is a Cash Equivalent that matures at or prior to the date required by this Agreement. If on any Business Day other than a Business Day on which a Pay Out Event or a Prospective Pay Out Event has occurred and is continuing, the Transferor Interest is greater than the Minimum Transferor Interest, amounts on deposit in the Excess Funding Account may, at the option of the Transferor, be released to the Holder of the Exchangeable Transferor Security. On the first Business Day of the Amortization Period for any Series, funds on deposit in the Excess Funding Account will be deposited in the Principal Account for such Series to the extent of the lesser of (x) the Invested Amount of such Series and (y) the amount then on deposit in the Excess Funding Account. [THE REMAINDER OF ARTICLE IV IS RESERVED AND SHALL BE SPECIFIED IN ANY SUPPLEMENT WITH RESPECT TO ANY SERIES] [End of Article IV]

Amounts in Excess Funding Account. Amounts on deposit in the Excess Funding Account on any Business Day will be invested by the Servicer (or, at the direction of the Transferor, by the Trustee) on behalf of the Transferor in Cash Equivalents which shall mature and be available on or before the next Business Day on which amounts may be released from the Excess Funding Account. Earnings from such investments received shall be deposited in the Collection Account and treated as Finance Charge Imputed Yield Collections. Any investment instructions to the Trustee shall be in writing and shall include a certification that the proposed investment is a Cash Equivalent that matures at or prior to the date required by this Agreement. If on any Business Day other than a Business Day on which a Pay Out Event or a Prospective Pay Out Event has occurred and is continuing, the Transferor Interest is greater than the Minimum Transferor Interest, amounts on deposit in the Excess Funding Account may, at the option of the Transferor, be released to the Holder of the Exchangeable Transferor SecurityCertificate. On the first Business Day of the Amortization Period for any Series, funds on deposit in the Excess Funding Account will be deposited in the Principal Account for such Series to the extent of the lesser of (x) the Invested Amount of such Series and (y) the amount then on deposit in the Excess Funding Account. [THE REMAINDER OF ARTICLE IV IS RESERVED AND SHALL BE SPECIFIED IN ANY SUPPLEMENT WITH RESPECT TO ANY SERIES]] [ARTICLE V IS RESERVED AND SHALL BE SPECIFIED IN ANY SUPPLEMENT WITH RESPECT TO ANY SERIES] [End of Article V] ARTICLE VI