Application of Principal Collections. On each Settlement Date, Servicer will apply the Principal Collections on deposit in the Second-Tier Account in accordance with the applicable Payment Instructions pursuant to Section 2.2(a) to make the following distributions in the following amounts and order of priority: first, to each Terminating Financial Institution, an amount equal to such Terminating Financial Institution’s Termination Percentage of such Principal Collections for the ratable reduction of the Capital of each such Terminating Financial Institution, second, subject to Section 2.6, if any Purchase Notice shall have been delivered in accordance with Section 1.2(a), to Seller to fund the Cash Purchase Price of the Purchase to be made on such date; otherwise, to Agent for the account of the Purchasers (other than any Terminating Financial Institution) as a further reduction of the Aggregate Capital, and third, subject to Section 2.6, to the extent of any such amounts remaining after such payments, to be applied as if they were Finance Charge Collections in accordance with the priority of payments set forth in subsection (c) below.
Application of Principal Collections. Pursuant to Sections 4.05, 4.07, 4.09, 4.14 and 4.16, the Servicer hereby instructs the Trustee to apply Principal Collections available on the Transfer Date, determined pursuant to the provisions of the above sections, in the following priority:
Application of Principal Collections. The Indenture Trustee (based on the information contained in the Servicer’s Accounting delivered on any such date or the related Determination Date pursuant to Section 3.05 of the Pooling and Servicing Agreement, as applicable) shall apply Trust Principal Collections and Available Trust Principal, after satisfaction of any reallocation of Trust Principal Collections pursuant to Section 4.5(c)(ii), in the following manner:
Application of Principal Collections. On each Settlement Date, the Agent will apply the Principal Collections deposited to the Agent’s Account pursuant to Section 2.2(a) to make the following distributions in the following amounts and order of priority: first, to each Terminating Financial Institution, an amount equal to such Terminating Financial Institution’s Termination Percentage of such Principal Collections for the ratable reduction of the Capital of each such Terminating Financial Institution, and second, if any Purchase Notice shall have been delivered in accordance with Section 1.2, to Seller to fund the Purchase Price of the Incremental Purchase to be made on such date; otherwise, to the Agent for the account of the Purchasers (other than any Terminating Financial Institution) as a further reduction of Aggregate Capital. RECEIVABLES PURCHASE AGREEMENT
Application of Principal Collections. On each Settlement Date, the Agent will apply the Principal Collections on deposit in the Collection Account to make the following distributions in the following amounts: (i) if any Purchase Request shall have been delivered in accordance with Section 2.2, to Seller to fund the Purchase Price of the Buyer Interest to be made on such date; otherwise, (ii) to the Agent for the account of the Buyers as a further reduction of Buyer Investments.
