Application of Collections. For the purposes of this Agreement, no later than each Distribution Date all collections for the related Monthly Period shall be applied by the Servicer as follows: (a) With respect to all Simple Interest Receivables (other than Administrative Receivables and Warranty Receivables), payments by or on behalf of the Obligors that are not Supplemental Servicing Fees shall be applied to principal and interest on all such Simple Interest Receivables. (b) With respect to a Simple Interest Receivable that is also an Administrative Receivable or Warranty Receivable, payments by or on behalf of the Obligor shall be applied in the same manner as set forth in Section 2.10(a). A Warranty Payment or an Administrative Purchase Payment, as applicable, shall be applied to principal and interest on such Receivable.
Appears in 75 contracts
Samples: Servicing Agreement (Ally Auto Receivables Trust 2024-2), Servicing Agreement (Ally Auto Receivables Trust 2024-2), Servicing Agreement (Ally Auto Receivables Trust 2024-1)
Application of Collections. For the purposes of this AgreementAgreement and the Further Transfer and Servicing Agreements, no later than each Distribution Date all collections for the related Monthly Period shall be applied by the Servicer as follows:
(a) With respect to all Simple Interest Receivables (other than Administrative Receivables and Warranty Receivables), payments by or on behalf of the Obligors that are not Supplemental Servicing Fees shall be applied to principal and interest on all such Simple Interest Receivables.
(b) With respect to a Simple Interest Receivable that is also an Administrative Receivable or Warranty Receivable, payments by or on behalf of the Obligor shall be applied in the same manner as set forth in Section 2.10(a3.10(a). A Warranty Payment or an Administrative Purchase Payment, as applicable, shall be applied to principal and interest on such Receivable.
Appears in 28 contracts
Samples: Pooling and Servicing Agreement (Capital Auto Receivables Asset Trust 2016-3), Pooling and Servicing Agreement (Capital Auto Receivables Asset Trust 2016-3), Pooling and Servicing Agreement (Capital Auto Receivables Asset Trust 2016-2)
Application of Collections. For the purposes of this AgreementAgreement and the Further Transfer and Servicing Agreements, no later than each Distribution Date all collections for the related Monthly Period shall be applied by the Servicer as follows:
(a) With respect to all Simple Interest Receivables (other than Administrative Receivables and Warranty Receivables), payments by or on behalf of the Obligors that are not Supplemental Servicing Fees shall be applied to principal and interest on all such Simple Interest Receivables.
(b) With respect to a Simple Interest Receivable that is also an Administrative Receivable or Warranty Receivable, payments by or on behalf of the Obligor shall be applied in the same manner as set forth in Section 2.10(a3.11(a). A Warranty Payment or an Administrative Purchase Payment, as applicable, shall be applied to principal and interest on such Receivable.
Appears in 10 contracts
Samples: Pooling and Servicing Agreement, Pooling and Servicing Agreement (Ally Auto Receivables Trust 2010-5), Pooling and Servicing Agreement (Ally Auto Receivables Trust 2010-5)
Application of Collections. For the purposes of this Agreement, no later than each Distribution Date all collections for the related Monthly Period shall be applied by the Servicer as follows:
(a) With respect to all Simple Interest Receivables (other than Administrative Receivables and Warranty Receivables), payments by or on behalf of the Obligors that are not Supplemental Servicing Fees shall be applied to principal and interest on all such Simple Interest Receivables.
(b) With respect to a Simple Interest Receivable that is also an Administrative Receivable or Warranty Receivable, payments by or on behalf of the Obligor shall be applied in the same manner as set forth in Section 2.10(a). A cash Warranty Payment or an Administrative Purchase Payment, as applicable, shall be applied to principal and interest on such Receivable.
Appears in 2 contracts
Samples: Servicing Agreement (Ally Auto Receivables Trust 2016-1), Servicing Agreement (Ally Auto Receivables Trust 2016-1)
Application of Collections. For the purposes of this AgreementAgreement and the Further Transfer and Servicing Agreements, no later than each Distribution Date all collections for the related Monthly Period shall be applied by the Servicer as follows:
(a) With respect to all Simple Interest Receivables (other than Administrative Receivables and Warranty Receivables), payments by or on behalf of the Obligors that are not Supplemental Servicing Fees shall be applied to principal and interest on all such Simple Interest Receivables.
(b) With respect to a Simple Interest Receivable that is also an Administrative Receivable or Warranty Receivable, payments by or on behalf of the Obligor shall be applied in the same manner as set forth in Section 2.10(a3.11(a). A Warranty Payment or an Administrative Purchase Payment, as applicable, shall be applied to principal and interest on such Receivable.. Table of Contents
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ally Auto Receivables Trust 2010-1)
