Common use of Application of Collections; Additional Deposits Clause in Contracts

Application of Collections; Additional Deposits. (i) On or before the Closing Date, the Seller or the Depositor shall deposit the Reserve Account Initial Deposit into the Reserve Account from the net proceeds of the sale of the Notes. (ii) On or before the Closing Date, the Depositor shall deposit the Class N Reserve Account Initial Deposit into the Class N Reserve Account from the net proceeds of the sale of the Notes. (iii) The Servicer, the Depositor or the Seller, as the case may be, shall deposit or cause to be deposited in the Collection Account the aggregate Purchase Amount with respect to Purchased Receivables and the Servicer shall deposit therein all amounts to be paid under Section 6.1 of the Servicing Agreement. Except for those deposits to be made by Servicer under Section 6.1 of the Servicing Agreement, all such deposits shall be made, in immediately available funds, on the Business Day preceding the Determination Date. With respect to deposits to be made by Servicer under Section 6.1 of the Servicing Agreement, such deposits shall be made, in immediately available funds, on the Business Day preceding the Distribution Date. (iv) On each Distribution Date, the Indenture Trustee shall transfer from the Reserve Account and deposit in the Note Distribution Account before 12:00 p.m. (New York time) the Reserve Account Draw Amount (if any) for that Distribution Date in accordance with the Servicer’s Certificate. (v) On each Distribution Date, the Indenture Trustee shall transfer from the Class N Reserve Account and deposit in the Note Distribution Account before 12:00 p.m. (New York time) the Class N Reserve Account Draw Amount (if any) for that Distribution Date in accordance with the Servicer’s Certificate. (vi) On each Distribution Date, the Indenture Trustee shall transfer from the Collection Account to the Servicer, in immediately available funds, an amount equal to the Supplemental Servicing Fees and Liquidation Expenses (as set forth on the Servicer’s Certificate) (and any unpaid Supplemental Servicing Fees and Liquidation Expenses from prior periods) during the related Collection Period in accordance with the Servicer’s Certificate. (vii) On any Distribution Date that the amount on deposit in the Reserve Account together with Available Funds is sufficient to pay all amounts due pursuant to Sections 2.7(b)(i) through (xiii) and the aggregate outstanding principal amount of the Class A Notes, Class B Notes, Class C Notes and the Class D Notes then such amount will be used to repay all such outstanding classes of Notes in full on such Distribution Date.

Application of Collections; Additional Deposits. (i) On or before the Closing Date, the Seller or the Depositor shall deposit the Reserve Account Initial Deposit into the Reserve Account from the net proceeds of the sale of the Notes. (ii) On or before the Closing Date, the Depositor shall deposit the Class N Reserve Account Initial Deposit into the Class N Reserve Account from the net proceeds of the sale of the Notes. (iii) The Servicer, the Depositor or the Seller, as the case may be, shall deposit or cause to be deposited in the Collection Account the aggregate Purchase Amount with respect to Purchased Receivables and the Servicer shall deposit therein all amounts to be paid under Section 6.1 of the Servicing Agreement. Except for those deposits to be made by Servicer under Section 6.1 of the Servicing Agreement, all such deposits shall be made, in immediately available funds, on the Business Day preceding the Determination Date. With respect to deposits to be made by Servicer under Section 6.1 of the Servicing Agreement, such deposits shall be made, in immediately available funds, on the Business Day preceding the Distribution Date. (iv) On each Distribution Date, the Indenture Trustee shall transfer from the Reserve Account and deposit in the Note Distribution Account before 12:00 p.m. (New York time) the Reserve Account Draw Amount (if any) for that Distribution Date in accordance with the Servicer’s Certificate. (v) On each Distribution Date, the Indenture Trustee shall transfer from the Class N Reserve Account and deposit in the Note Distribution Account before 12:00 p.m. (New York time) the Class N Reserve Account Draw Amount (if any) for that Distribution Date in accordance with the Servicer’s Certificate. (vi) On each Distribution Date, the Indenture Trustee shall transfer from the Collection Account to the Servicer, in immediately available funds, an amount equal to the Supplemental Servicing Fees and Liquidation Expenses (as set forth on the Servicer’s Certificate) (and any unpaid Supplemental Servicing Fees and Liquidation Expenses from prior periods) during the related Collection Period in accordance with the Servicer’s Certificate. (vii) On any Distribution Date that the amount on deposit in the Reserve Account together with Available Funds is sufficient to pay all amounts due pursuant to Sections 2.7(b)(i) through (xiiixv) and the aggregate outstanding principal amount of the Class A Notes, Class B Notes, Class C Notes, the Class D Notes and the Class D Notes E Notes, then such amount will be used to repay all such outstanding classes of Notes in full on such Distribution Date.

Application of Collections; Additional Deposits. (i) On or before the Closing Date, the Seller or the Depositor shall deposit the Reserve Account Initial Deposit into the Reserve Account from the net proceeds of the sale of the Notes. (ii) On or before the Closing Date, the Depositor shall deposit the Class N Reserve Account Initial Deposit into the Class N Reserve Account from the net proceeds of the sale of the Notes. (iii) The Servicer, the Depositor or the Seller, as the case may be, shall deposit or cause to be deposited in the Collection Account the aggregate Purchase Amount with respect to Purchased Receivables and the Servicer shall deposit therein all amounts to be paid under Section 6.1 of the Servicing Agreement. Except for those deposits to be made by Servicer under Section 6.1 of the Servicing Agreement, all such deposits shall be made, in immediately available funds, on the Business Day preceding the Determination Date. With respect to deposits to be made by Servicer under Section 6.1 of the Servicing Agreement, such deposits shall be made, in immediately available funds, on the Business Day preceding the Distribution Date. (iv) On each Distribution Date, the Indenture Trustee shall transfer from the Reserve Account and deposit in the Note Distribution Account before 12:00 p.m. (New York time) the Reserve Account Draw Amount (if any) for that Distribution Date in accordance with the Servicer’s Certificate. (v) On each Distribution Date, the Indenture Trustee shall transfer from the Class N Reserve Account and deposit in the Note Distribution Account before 12:00 p.m. (New York time) the Class N Reserve Account Draw Amount (if any) for that Distribution Date in accordance with the Servicer’s Certificate. (vi) On each Distribution Date, the Indenture Trustee shall transfer from the Collection Account to the Servicer, in immediately available funds, an amount equal to the Supplemental Servicing Fees and Liquidation Expenses (as set forth on the Servicer’s Certificate) (and any unpaid Supplemental Servicing Fees and Liquidation Expenses from prior periods) during the related Collection Period in accordance with the Servicer’s Certificate. (vii) On any Distribution Date that the amount on deposit in the Reserve Account together with Available Funds is sufficient to pay all amounts due pursuant to Sections Section 2.7(b)(i) through (xiii) and the aggregate outstanding principal amount of the Class A Notes, Class B Notes, Class C Notes and the Class D Notes then such amount will be used to repay all such outstanding classes of Notes in full on such Distribution Date.

Application of Collections; Additional Deposits. (i) On or before the Closing Date, the Seller or the Depositor shall deposit the Reserve Account Initial Deposit into the Reserve Account from the net proceeds of the sale of the Notes. (ii) On or before the Closing Date, the Depositor shall deposit the Class N Reserve Account Initial Deposit into the Class N Reserve Account from the net proceeds of the sale of the Notes. (iii) The Servicer, the Depositor or the Seller, as the case may be, shall deposit or cause to be deposited in the Collection Account the aggregate Purchase Amount with respect to Purchased Receivables and the Servicer shall deposit therein all amounts to be paid under Section 6.1 of the Servicing Agreement. Except for those deposits to be made by Servicer under Section 6.1 of the Servicing Agreement, all such deposits shall be made, in immediately available funds, on the Business Day preceding the Determination Date. With respect to deposits to be made by Servicer under Section 6.1 of the Servicing Agreement, such deposits shall be made, in immediately available funds, on the Business Day preceding the Distribution Date. (iviii) On each Distribution Date, the Indenture Trustee shall transfer from the Reserve Account and deposit in the Note Distribution Account before 12:00 p.m. (New York time) the Reserve Account Draw Amount (if any) for that Distribution Date in accordance with the Servicer’s Certificate. (v) On each Distribution Date, the Indenture Trustee shall transfer from the Class N Reserve Account and deposit in the Note Distribution Account before 12:00 p.m. (New York time) the Class N Reserve Account Draw Amount (if any) for that Distribution Date in accordance with the Servicer’s Certificate. (viiv) On each Distribution Date, the Indenture Trustee shall transfer from the Collection Account to the Servicer, in immediately available funds, an amount equal to the Supplemental Servicing Fees and Liquidation Expenses (as set forth on the Servicer’s Certificate) (and any unpaid Supplemental Servicing Fees and Liquidation Expenses from prior periods) during the related Collection Period in accordance with the Servicer’s Certificate. (viiv) On any Distribution Date that the amount on deposit in the Reserve Account together with Available Funds is sufficient to pay all amounts due pursuant to Sections Section 2.7(b)(i) through (xiiixv) and the aggregate outstanding principal amount of the Class A Notes, Class B Notes, Class C Notes, the Class D Notes and the Class D Notes E Notes, then such amount will be used to repay all such outstanding classes of Notes in full on such Distribution Date.