Application of Available Sample Clauses
Application of Available. Finance Charge Collections and ------------------------------------------------------- Available Principal Collections. The Servicer shall apply, or shall cause the ------------------------------- Indenture Trustee to apply by written instruction to the Indenture Trustee, on each Distribution Date, Available Finance Charge Collections and Available Principal Collections on deposit in the Collection Account with respect to such Distribution Date to make the following distributions:
(a) On each Distribution Date, an amount equal to the Available Finance Charge Collections with respect to such Distribution Date will be distributed or deposited in the following priority:
(i) on a pari passu basis (A) an amount equal to Monthly Interest for such Distribution Date, plus the amount of any Monthly Interest previously due but not distributed to Class A Noteholders on a prior Distribution Date, plus the amount of any Additional Interest for such Distribution Date, plus the amount of any Additional Interest previously due but not distributed to Class A Noteholders on a prior Distribution Date, shall be distributed to the Paying Agent for payment to Class A Noteholders on such Distribution Date and (B) any Net Swap Payment for that Distribution Date shall be distributed to the Counterparty;
(ii) if neither FCNB nor any affiliate of the Seller is the Servicer, an amount equal to the Monthly Servicing Fee for such Distribution Date, plus the amount of any Monthly Servicing Fee previously due but not distributed to the Servicer on a prior Distribution Date, shall be distributed to the Servicer;
(iii) an amount equal to the Investor Default Amount and any Investor Uncovered Dilution Amount for such Distribution Date shall be treated as a portion of Available Principal Collections for such Distribution Date;
(iv) an amount equal to the sum of the aggregate amount of Investor Charge-Offs and the amount of Reallocated Principal Collections which have not been previously reimbursed pursuant to this subsection (iv) shall be --------------- treated as a portion of Available Principal Collections for such Distribution Date;
(v) an amount equal to the Monthly Insurance Premium for the related Monthly Period and any unpaid Monthly Insurance Premiums for prior Monthly Periods shall be paid to the Insurer;
(vi) on each Distribution Date from and after the Reserve Account Funding Date, but prior to the date on which the Reserve Account terminates as described in subsection 4.10(f), a...
Application of Available. Funds prior to the service of a Note Acceleration Notice
(a) first, in or towards satisfaction, pro rata and pari passu, according to the respective amounts thereof of:
(i) any amount or Levy which are due and payable by the Issuer (each, to the extent not paid from amounts standing to the credit of the Reserve Account) to reimburse the Servicer;
(ii) any fees, costs, charges, liabilities, expenses and all other amounts then due and payable to the Note Trustee and any receiver or Appointee under the provisions of the Trust Deed and the other Transaction Documents together with (if payable) VAT thereon to the extent provided therein; and
(iii) any fees, costs, charges, liabilities, expenses and all other amounts then due and payable to the Security Trustee and any receiver or Appointee appointed by the Security Trustee and any Appointee under the provisions of the Deed of Charge, the Issuer Accounts Pledge Agreement and the other Transaction Documents together with (if payable) VAT thereon to the extent provided therein;
(b) second, in or towards any amount of taxes which are due and payable by the Issuer to any tax authority (other than corporation tax on amounts standing to the credit of the Issuer Profit Ledger);
(c) third, in or towards satisfaction, pro rata and pari passu according to the respective amounts thereof of any amounts due and payable by the Issuer to third parties (including any tax authority) and incurred without breach by the Issuer of the Transaction Documents to which it is a party (and for which payment has not been provided for elsewhere) and any amounts necessary to provide for any such amounts expected to become due and payable by the Issuer in the immediately succeeding Interest Period and any amounts required to pay or discharge any liability of the Issuer for corporation tax on any income or chargeable gain of the Issuer (including, but not limited to, audit fees, legal fees, tax compliance fees and anticipated winding-up costs of the Issuer);
(d) fourth, in or towards satisfaction pro rata and pari passu according to the respective accounts thereof of:
(i) any remuneration then due and payable to the Registrar, the Agent Bank and the Paying Agents and any costs, charges, liabilities and expenses then due and payable to them under the provisions of the Agency Agreement, together with (if payable) VAT thereon to the extent provided therein;
(ii) any amounts then due and payable to the Corporate Services Provider and any fees, cos...