Common use of Application of Trust Funds Clause in Contracts

Application of Trust Funds. (a) On each Payment Date, the Paying Agent will distribute to Certificateholders, on the basis of the Percentage Interest evidenced by their Trust Certificates, amounts deposited in the Certificate Distribution Account pursuant to Section 4.06 of the Sale and Servicing Agreement with respect to such Payment Date. (b) On each Payment Date, the Paying Agent shall send to each Certificateholder the statement or statements provided to the Owner Trustee by the Servicer pursuant to Section 4.10 of the Sale and Servicing Agreement with respect to such Payment Date. (c) In the event that any withholding tax is imposed on the Issuer’s payment (or allocations of income) to a Certificateholder, such tax shall reduce the amount otherwise distributable to the Certificateholder in accordance with this Section. The Paying Agent will retain from amounts otherwise distributable to the Certificateholders sufficient funds for the payment of any tax that is legally owed by the Issuer (but such authorization shall not prevent the Owner Trustee or the Paying Agent from contesting any such tax in appropriate proceedings and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings) upon the written direction of the Depositor. The amount of any withholding tax imposed with respect to a Certificateholder shall be treated as cash distributed to such Certificateholder at the time it is withheld by the Issuer and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to a distribution, the Paying Agent may in its sole discretion withhold such amounts in accordance with this paragraph (c).

Application of Trust Funds. (a) On each Payment Date, the Paying Agent will distribute to Certificateholders, on the basis of the Percentage Interest evidenced by their Trust Certificates, amounts deposited in the Certificate Distribution Account pursuant to Section 4.06 of the Sale and Servicing Agreement with respect to such Payment Date. (b) On each Payment Date, the Paying Agent shall send to each Certificateholder the statement or statements provided to the Owner Trustee by the Servicer pursuant to Section 4.10 of the Sale and Servicing Agreement with respect to such Payment Date. (c) In the event that any withholding tax is imposed on the Issuer’s payment (or allocations of income) to a Certificateholderan Owner, such tax shall reduce the amount otherwise distributable to the Certificateholder Owner in accordance with this Section. The Paying Agent will retain from amounts otherwise distributable to the Certificateholders Owners sufficient funds for the payment of any tax that is legally owed by the Issuer (but such authorization shall not prevent the Owner Trustee or the Paying Agent from contesting any such tax in appropriate proceedings and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings) upon the written direction of the Depositor. The amount of any withholding tax imposed with respect to a Certificateholder an Owner shall be treated as cash distributed to such Certificateholder Owner at the time it is withheld by the Issuer and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to a distribution, the Paying Agent may in its sole discretion withhold such amounts in accordance with this paragraph (c).

Application of Trust Funds. (a) On each Payment Distribution Date, the Paying Agent will distribute to Certificateholders, on the basis of the Percentage Interest evidenced by their Trust Certificates, Certificateholder amounts deposited in the Certificate Distribution Account received pursuant to Section 4.06 7.05 of the Sale and Servicing Agreement with respect to such Payment Distribution Date. (b) On each Payment Distribution Date, the Paying Agent shall send to each the Certificateholder the statement or statements provided to the Owner Trustee by the Servicer pursuant to Section 4.10 9.01 of the Sale and Servicing Agreement with respect to such Payment Distribution Date. (c) In the event that any withholding tax is imposed on the IssuerTrust’s payment (or allocations allocation of income) to a the Certificateholder, such tax shall reduce the amount otherwise distributable to the Certificateholder in accordance with this Section. The Paying Agent will is hereby authorized and directed to retain from amounts otherwise distributable to the Certificateholders Owner sufficient funds for the payment of any tax that is legally owed by the Issuer Trust (but such authorization shall not prevent the Owner Trustee or the Paying Agent from contesting any such tax in appropriate proceedings proceedings, and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings) upon the written direction of the Depositor). The amount of any withholding tax imposed with respect to a the Certificateholder shall be treated as cash distributed to such Certificateholder at the time it is withheld by the Issuer Trust and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to a distribution, the Paying Agent may in its sole discretion withhold such amounts in accordance with this the paragraph (c).

Application of Trust Funds. (a) On each Payment Date, the Paying Agent will distribute to Certificateholders, on the basis of the Percentage Interest evidenced by their Trust Certificates, amounts deposited in the Certificate Distribution Account pursuant to Section 4.06 of the Sale and Servicing Agreement with respect to such Payment Date. (b) On each Payment Date, the Paying Agent shall send to each Certificateholder the statement or statements provided to the Owner Trustee by the Servicer pursuant to Section 4.10 of the Sale and Servicing Agreement with respect to such Payment Date. (c) In the event that any withholding tax is imposed on the Issuer’s 's payment (or allocations of income) to a Certificateholderan Owner, such tax shall reduce the amount otherwise distributable to the Certificateholder Owner in accordance with this Section. The Paying Agent will Owner Trustee is hereby authorized and directed to retain from amounts otherwise distributable to the Certificateholders Owners sufficient funds for the payment of any tax that is legally owed by the Issuer (but such authorization shall not prevent the Owner Trustee or the Paying Agent from contesting any such tax in appropriate proceedings and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings) upon the written direction of the Depositor). The amount of any withholding tax imposed with respect to a Certificateholder an Owner shall be treated as cash distributed to such Certificateholder Owner at the time it is withheld by the Issuer and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to a distribution, the Paying Agent Owner Trustee may in its sole discretion withhold such amounts in accordance with this paragraph (c).

Application of Trust Funds. (a) On each Payment Distribution Date, the Trust Agent, on behalf of the Owner Trustee, shall direct the Paying Agent will to distribute to Certificateholders, the Certificateholders from amounts on the basis of the Percentage Interest evidenced by their Trust Certificates, amounts deposited deposit in the Certificate Distribution Account pursuant to the distributions as provided in Section 4.06 4.03(b) of the Sale and Servicing Agreement with respect to such Payment Distribution Date. (b) On each Payment Distribution Date, the Trust Agent, on behalf of the Owner Trustee, shall cause the Paying Agent shall to send to each Certificateholder and each Residual Interestholder the statement or statements provided to the Owner Trustee or the Trust Agent by the Servicer pursuant to Section 4.10 4.05 of the Sale and Servicing Agreement with respect to such Payment Distribution Date. (c) In the event that any withholding tax is imposed on the Issuer’s Trust's payment (or allocations of income) to a Certificateholderan Owner, such tax shall reduce the amount otherwise distributable to the Certificateholder Owner in accordance with this Section. The Paying Trust Agent will is hereby authorized and directed to retain from amounts otherwise distributable to the Certificateholders Owners sufficient funds for the payment of any tax that is legally owed by the Issuer Trust (but such authorization shall not prevent the Owner Trustee or the Paying Trust Agent from contesting any such tax in appropriate proceedings proceedings, and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings) upon the written direction of the Depositor). The amount of any withholding tax imposed with respect to a Certificateholder an Owner shall be treated as cash distributed to such Certificateholder Owner at the time it is withheld by the Issuer Trust and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to a distribution, the Paying Trust Agent may in its sole discretion shall withhold such amounts in accordance with this paragraph (c).

Application of Trust Funds. (a) On each Payment Date, the Paying Agent will distribute to Certificateholders, on the basis of the Percentage Interest evidenced by their Trust Certificates, amounts deposited in the Certificate Distribution Account pursuant to Section 4.06 of the Sale and Servicing Agreement with respect to such Payment Date. (b) On each Payment Date, the Paying Agent shall send to each Certificateholder the statement or statements provided to the Owner Trustee by the Servicer pursuant to Section 4.10 of the Sale and Servicing Agreement with respect to such Payment Date. (c) In the event that any withholding tax is imposed on the Issuer’s 's payment (or allocations of income) to a Certificateholderan Owner, such tax shall reduce the amount otherwise distributable to the Certificateholder Owner in accordance with this Section. The Paying Agent will retain from amounts otherwise distributable to the Certificateholders Owners sufficient funds for the payment of any tax that is legally owed by the Issuer (but such authorization shall not prevent the Owner Trustee or the Paying Agent from contesting any such tax in appropriate proceedings and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings) upon the written direction of the Depositor. The amount of any withholding tax imposed with respect to a Certificateholder an Owner shall be treated as cash distributed to such Certificateholder Owner at the time it is withheld by the Issuer and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to a distribution, the Paying Agent may in its sole discretion withhold such amounts in accordance with this paragraph (c).

Application of Trust Funds. (a) On each Payment Distribution Date, the Paying Agent Owner Trustee, at the direction of the Master Servicer, will distribute to Certificateholders, on the basis of the in proportion to each Certificateholder's Certificate Percentage Interest evidenced by their Trust CertificatesInterest, amounts deposited in into the Certificate Distribution Account pursuant to Section 4.06 Sections 5.06 and 9.01 of the Sale and Servicing Agreement and Sections 2.07(c) and 5.06(a) of the Indenture with respect to such Payment Distribution Date. (b) On each Payment Distribution Date, the Paying Agent Owner Trustee shall send to each Certificateholder the statement or statements provided to the Owner Trustee by the Master Servicer pursuant to Section 4.10 5.07 of the Sale and Servicing Agreement with respect to such Payment Distribution Date. (c) In the event that any withholding tax is imposed on the Issuer’s Trust's payment (or allocations of income) to a Certificateholderan Owner, such tax shall reduce the amount otherwise distributable to the Certificateholder Owner in accordance with this Section. The Owner Trustee is hereby authorized and directed to retain, or cause the Paying Agent will retain to retain, from amounts otherwise distributable to the Certificateholders Owners sufficient funds for the payment of any tax that is legally owed by the Issuer Trust (but such authorization shall not prevent the Owner Trustee or the Paying Agent from contesting any such tax in appropriate proceedings proceedings, and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings) upon the written direction of the Depositor). The amount of any withholding tax imposed with respect to a Certificateholder an Owner shall be treated as cash distributed to such Certificateholder Owner at the time it is withheld by the Issuer Trust and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to a distribution, the Paying Agent Owner Trustee may in its sole discretion withhold such amounts in accordance with this paragraph (c)subsection.

Application of Trust Funds. (a) On each Payment Distribution Date, the Paying Agent Owner Trustee, at the direction of the Master Servicer, will distribute to Certificateholders, on the basis of the in proportion to each Certificateholder's Certificate Percentage Interest evidenced by their Trust CertificatesInterest, amounts deposited in into the Certificate Distribution Account pursuant to Section 4.06 Sections 5.06 and 9.01 of the Sale and Servicing Agreement and Section 5.06(a) of the Indenture with respect to such Payment Distribution Date. (b) On each Payment Distribution Date, the Paying Agent Owner Trustee shall send to each Certificateholder the statement or statements provided to the Owner Trustee by the Master Servicer pursuant to Section 4.10 5.07 of the Sale and Servicing Agreement with respect to such Payment Distribution Date. (c) In the event that any withholding tax is imposed on the Issuer’s Trust's payment (or allocations of income) to a Certificateholderan Owner, such tax shall reduce the amount otherwise distributable to the Certificateholder Owner in accordance with this Section. The Owner Trustee is hereby authorized and directed to retain, or cause the Paying Agent will retain to retain, from amounts otherwise distributable to the Certificateholders Owners sufficient funds for the payment of any tax that is legally owed by the Issuer Trust (but such authorization shall not prevent the Owner Trustee or the Paying Agent from contesting any such tax in appropriate proceedings proceedings, and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings) upon the written direction of the Depositor). The amount of any withholding tax imposed with respect to a Certificateholder an Owner shall be treated as cash distributed to such Certificateholder Owner at the time it is withheld by the Issuer Trust and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to a distribution, the Paying Agent Owner Trustee may in its sole discretion withhold such amounts in accordance with this paragraph (c).

Application of Trust Funds. (a) On each Payment Distribution Date, the Paying Agent will distribute to Certificateholders, on the basis of the Percentage Interest evidenced by their Trust Certificates, Certificateholder amounts deposited in the Certificate Distribution Account received pursuant to Section 4.06 7.05 of the Sale and Servicing Agreement with respect to such Payment Distribution Date. (b) On each Payment Distribution Date, the Paying Agent shall send to each the Certificateholder the statement or statements provided to the Owner Trustee by the Servicer pursuant to Section 4.10 9.01 of the Sale and Servicing Agreement with respect to such Payment Distribution Date. (c) In the event that any withholding tax is imposed on the Issuer’s Trust's payment (or allocations allocation of income) to a the Certificateholder, such tax shall reduce the amount otherwise distributable to the Certificateholder in accordance with this Section. The Paying Agent will is hereby authorized and directed to retain from amounts otherwise distributable to the Certificateholders Owner sufficient funds for the payment of any tax that is legally owed by the Issuer Trust (but such authorization shall not prevent the Owner Trustee or the Paying Agent from contesting any such tax in appropriate proceedings proceedings, and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings) upon the written direction of the Depositor). The amount of any withholding tax imposed with respect to a the Certificateholder shall be treated as cash distributed to such Certificateholder at the time it is withheld by the Issuer Trust and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to a distribution, the Paying Agent may in its sole discretion withhold such amounts in accordance with this the paragraph (c).

Application of Trust Funds. (a) On each Payment Distribution Date, the Paying Agent Owner Trustee will distribute to Certificateholders, on the basis of the Percentage Interest evidenced by their Trust Certificates, amounts deposited in the Certificate Distribution Account pursuant to Section 4.06 Sections 5.06 and 5.07 of the Sale and Servicing Agreement with respect to such Payment Distribution Date. (b) On each Payment Distribution Date, the Paying Agent Owner Trustee shall send to each Certificateholder the statement or statements provided to the Owner Trustee by the Servicer pursuant to Section 4.10 5.09 of the Sale and Servicing Agreement with respect to such Payment Distribution Date. (c) In the event that any withholding tax is imposed on the Issuer’s Trust's payment (or allocations of income) to a Certificateholderan Owner, such tax shall reduce the amount otherwise distributable to the Certificateholder Owner in accordance with this Section. The Paying Agent will Owner Trustee is hereby authorized and directed to retain from amounts otherwise distributable to the Certificateholders Owners sufficient funds for the payment of any tax that is legally owed by the Issuer Trust (but such authorization shall not prevent the Owner Trustee or the Paying Agent from contesting any such tax in appropriate proceedings and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings) upon the written direction of the Depositor). The amount of any withholding tax imposed with respect to a Certificateholder an Owner shall be treated as cash distributed to such Certificateholder Owner at the time it is withheld by the Issuer Trust and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to a distributiondistribution (such as a distribution to a non-U.S. Owner), the Paying Agent Owner Trustee may in its sole discretion withhold such amounts in accordance with this paragraph (c).

Application of Trust Funds. (a) On each Payment Distribution Date, the Paying Agent Owner Trustee, at the direction of the Master Servicer, will distribute to Certificateholders, on the basis of the in proportion to each Certificateholder's Certificate Percentage Interest evidenced by their Trust CertificatesInterest, amounts deposited in into the Certificate Distribution Account pursuant to Section 4.06 Sections 5.06 and 9.01 of the Sale and Servicing Agreement and Sections 2.07(c) and 5.06(a) of the Indenture with respect to such Payment Distribution Date. (b) On each Payment Distribution Date, the Paying Agent Owner Trustee shall send to each Certificateholder the statement or statements provided to the Owner Trustee by the Master Servicer pursuant to Section 4.10 5.08 of the Sale and Servicing Agreement with respect to such Payment Distribution Date. (c) In the event that any withholding tax is imposed on the Issuer’s Trust's payment (or allocations of income) to a Certificateholderan Owner, such tax shall reduce the amount otherwise distributable to the Certificateholder Owner in accordance with this Section. The Owner Trustee is hereby authorized and directed to retain, or cause the Paying Agent will retain to retain, from amounts otherwise distributable to the Certificateholders Owners sufficient funds for the payment of any tax that is legally owed by the Issuer Trust (but such authorization shall not prevent the Owner Trustee or the Paying Agent from contesting any such tax in appropriate proceedings proceedings, and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings) upon the written direction of the Depositor). The amount of any withholding tax imposed with respect to a Certificateholder an Owner shall be treated as cash distributed to such Certificateholder Owner at the time it is withheld by the Issuer Trust and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to a distribution, the Paying Agent Owner Trustee may in its sole discretion withhold such amounts in accordance with this paragraph (c)subsection.

Application of Trust Funds. (a) On each Payment Date, the Owner Trustee shall cause the Paying Agent will to distribute to Certificateholders, on the basis of the Percentage Interest evidenced by their Trust Certificates, Certificateholders amounts deposited in the Certificate Distribution Account pursuant to Section 4.06 5.06 of the Sale and Servicing Agreement with respect to such Payment Date. (b) On each Payment Date, the Owner Trustee shall cause the Paying Agent shall to send to each Certificateholder the statement or statements provided to the Owner Trustee by the Master Servicer pursuant to Section 4.10 5.08 of the Sale and Servicing Agreement with respect to such Payment Date. (c) In the event that any withholding tax is imposed on the Issuer’s Owner Trustee's payment (or allocations of income) to a Certificateholder, such tax shall reduce the amount otherwise distributable to the such Certificateholder in accordance with this Section. The Owner Trustee and the Paying Agent will are hereby authorized and directed to retain from amounts otherwise distributable to the Certificateholders sufficient funds for the payment of any tax that is legally owed by the Issuer Owner Trustee (but such authorization shall not prevent the Owner Trustee or the Paying Agent from contesting any such tax in appropriate proceedings and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings) upon the written direction of the Depositor). The amount of any withholding tax imposed with respect to a Certificateholder shall be treated as cash distributed to such Certificateholder at the time it is withheld by the Issuer Owner Trustee and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to a distributiondistribution (such as a distribution to a non-U.S. Certificateholder), the Owner Trustee or the Paying Agent may in its sole discretion withhold such amounts in accordance with this paragraph (c)paragraph.

Application of Trust Funds. (a) On each Payment Date, the Paying Agent will distribute to Certificateholders, on the basis of the Percentage Residual Interest evidenced by their Trust Certificates, Certificateholder amounts deposited in the Certificate Distribution Account received pursuant to Section 4.06 2.11 of the Sale and Servicing Agreement with respect to such Payment Date. (b) On each Payment Date, the Paying Agent shall send to each the Residual Interest Certificateholder the statement or statements provided to the Owner Trustee by the Servicer pursuant to Section 4.10 9.4 of the Sale and Servicing Agreement with respect to such Payment Distribution Date. (c) In the event that any withholding tax is imposed on the Issuer’s Trust's payment (or allocations allocation of income) to a the Residual Interest Certificateholder, such tax shall reduce the amount otherwise distributable to the Residual Interest Certificateholder in accordance with this Section. The Paying Agent will is hereby authorized and directed to retain from amounts otherwise distributable to the Certificateholders Residual Interest Owner sufficient funds for the payment of any tax that is legally owed by the Issuer Trust (but such authorization shall not prevent the Owner Trustee or the Paying Agent from contesting any such tax in appropriate proceedings proceedings, and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings) upon the written direction of the Depositor). The amount of any withholding tax imposed with respect to a the Residual Interest Certificateholder shall be treated as cash distributed to such Residual Interest Certificateholder at the time it is withheld by the Issuer Trust and remitted to the appropriate taxing authority. If there is a reasonable possibility that withholding tax is payable with respect to a distribution, the Paying Agent may in its sole discretion withhold such amounts in accordance with this paragraph (c).

Application of Trust Funds. (a) On each Payment Date, the Trust Agent, on behalf of the Owner Trustee, shall direct the Paying Agent will to distribute to Certificateholders, all amounts on the basis of the Percentage Interest evidenced by their Trust Certificates, amounts deposited deposit in the Certificate Distribution Account pursuant to Section 4.06 of the Sale and Servicing Agreement with respect to such Payment DateHolders pro rata. (b) On each Payment Date, the Trust Agent, on behalf of the Owner Trustee, shall cause the Paying Agent shall to send to each Certificateholder Holder the statement or statements provided to the Owner Trustee or the Trust Agent by the Servicer Indenture Trustee pursuant to Section 4.10 8.07 of the Sale and Servicing Agreement Indenture with respect to such Payment Date. (c) In the event that any withholding tax is imposed on the Issuer’s Trust's payment (or allocations of income) to a CertificateholderHolder, such tax shall reduce the amount otherwise distributable to the Certificateholder Holder in accordance with this Section. The Paying Trust Agent will is hereby authorized and directed to retain from amounts otherwise distributable to the Certificateholders Holders sufficient funds for the payment of any tax that is legally owed by the Issuer Trust (but such authorization shall not prevent the Owner Trustee or the Paying Trust Agent from contesting any such tax in appropriate proceedings proceedings, and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings) upon the written direction of the Depositor). The amount of any withholding tax imposed with respect to a Certificateholder Holder shall be treated as cash distributed to such Certificateholder Holder at the time it is withheld by the Issuer Trust and remitted to the appropriate taxing authority. If the Trust Agent receives written notice that there is a possibility that withholding tax is payable with respect to a distribution, the Paying Trust Agent may in its sole discretion shall withhold such amounts in accordance with this paragraph (c).

Application of Trust Funds. (a) On each Payment Distribution Date, the Paying Agent Owner Trustee will distribute to Certificateholders, on the basis of the Percentage Interest evidenced by their Trust Certificates, amounts deposited in the Certificate Distribution Account pursuant to Section 4.06 of the Sale and Servicing Agreement with respect to such Payment Distribution Date. (b) On each Payment Distribution Date, the Paying Agent Owner Trustee shall send to each Certificateholder the statement or statements provided to the Owner Trustee by the Servicer pursuant to Section 4.10 of the Sale and Servicing Agreement with respect to such Payment Distribution Date. (c) In the event that any withholding tax is imposed on the Issuer’s 's payment (or allocations of income) to a Certificateholderan Owner, such tax shall reduce the amount otherwise distributable to the Certificateholder Owner in accordance with this Section. The Paying Agent will Owner Trustee is hereby authorized and directed to retain from amounts otherwise distributable to the Certificateholders Owners sufficient funds for the payment of any tax that is legally owed by the Issuer (but such authorization shall not prevent the Owner Trustee or the Paying Agent from contesting any such tax in appropriate proceedings and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings) upon the written direction of the Depositor). The amount of any withholding tax imposed with respect to a Certificateholder an Owner shall be treated as cash distributed to such Certificateholder Owner at the time it is withheld by the Issuer and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to a distribution, the Paying Agent Owner Trustee may in its sole discretion withhold such amounts in accordance with this paragraph (c).

Application of Trust Funds. (a) On each Payment DateAfter the Indenture is discharged, the Paying Agent will distribute to Certificateholders, on the basis of the Percentage Interest evidenced by their Trust Certificates, amounts deposited deposit in the Certificate Distribution Account amounts received for distribution pursuant hereto, in the following priority: (1) FIRST, to Section 4.06 of the Sale Owner Trustee for all fees and Servicing Agreement with respect expenses owed thereto and (2) SECOND, to such Payment Datethe Certificateholder. (b) On each Payment DateUpon request, the Paying Agent shall send to each the Certificateholder the statement or statements provided to the Owner Trustee by the Servicer pursuant to Section 4.10 9.01 of the Sale Transfer and Servicing Agreement with respect to such Payment Distribution Date. (c) In the event that any withholding tax is imposed on the IssuerTrust’s payment (or allocations allocation of income) to a the Certificateholder, such tax shall reduce the amount otherwise distributable to the Certificateholder in accordance with this SectionSection 5.02. The Paying Agent will is hereby authorized and directed to retain from amounts otherwise distributable to the Certificateholders Owners sufficient funds for the payment of any tax that is legally owed by the Issuer Trust (but such authorization shall not prevent the Owner Trustee or the Paying Agent from contesting any such tax in appropriate proceedings proceedings, and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings) upon the written direction of the Depositor). The amount of any withholding tax imposed with respect to a the Certificateholder shall be treated as cash distributed to such Certificateholder at the time it is withheld by the Issuer Trust and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to a distribution, the Paying Agent may in its sole discretion withhold such amounts in accordance with this paragraph (csubsection 5.02(c).

Application of Trust Funds. (a) On each Payment Date, the Paying Agent will distribute to Certificateholders, on shall make the basis of the Percentage Interest evidenced by their Trust Certificates, amounts deposited distributions and payments set forth in the Certificate Distribution Account pursuant to Section 4.06 5.01 of the Sale and Servicing Agreement with respect to such from amounts on deposit in the Payment DateAccount and the Auction Proceeds Account. (b) On each Payment Date, the Paying Agent shall send to each Certificateholder the statement or statements provided to the Owner Trustee by the Servicer pursuant to Section 4.10 of the Sale and Servicing Agreement with respect to such Payment Date. (c) In the event that any withholding tax is imposed on the IssuerTrust’s payment (or allocations of income) to a any Certificateholder, such tax shall reduce the amount otherwise distributable to the Certificateholder in accordance with this SectionSection 5.2. The Paying Agent will is hereby authorized and directed to retain from amounts otherwise distributable to the Certificateholders Certificateholder sufficient funds for the payment of any tax that is legally owed by the Issuer Trust (but such authorization shall not prevent the Owner Trustee or the Paying Agent from contesting any such tax in appropriate proceedings proceedings, and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings) upon the written direction of the Depositor). The amount of any withholding tax imposed with respect to a the Certificateholder shall be treated as cash distributed to such the Certificateholder at the time it is withheld by the Issuer Trust and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to a distributiondistribution (such as a distribution to a Non-U.S. Person), the Paying Agent may in its sole discretion withhold such amounts in accordance with this paragraph (cb). In the event that the Certificateholder wishes to apply for a refund of any such withholding tax, the Owner Trustee and the Paying Agent shall reasonably cooperate with the Certificateholder in making such claim so long as the Certificateholder agrees to reimburse the Owner Trustee and the Paying Agent for any out-of-pocket expenses incurred.

Application of Trust Funds. (a) On each Payment DateAfter the Indenture is discharged, the Paying Agent will distribute to Certificateholders, on the basis of the Percentage Interest evidenced by their Trust Certificates, amounts deposited deposit in the Certificate Distribution Account amounts received for distribution pursuant hereto, in the following priority: (i) FIRST, to the Owner Trustee for all fees and expenses owed thereto and for any other amounts payable pursuant to Section 4.06 of Article IX hereof and (ii) SECOND, to the Sale and Servicing Agreement with respect to such Payment DateCertificateholders. (b) On each Payment DateUpon request, the Paying Agent shall send to each Certificateholder the Certificateholders the statement or statements provided to the Owner Trustee by the Servicer pursuant to Section 4.10 9.01 of the Sale Transfer and Servicing Agreement with respect to such Payment Distribution Date. (c) In the event that any withholding tax is imposed on the IssuerTrust’s payment (or allocations allocation of income) to a Certificateholderthe Certificateholders, such tax shall reduce the amount otherwise distributable to the Certificateholder Certificateholders in accordance with this SectionSection 5.02. The Paying Agent will is hereby authorized and directed to retain from amounts otherwise distributable to the Certificateholders Owners sufficient funds for the payment of any tax that is legally owed by the Issuer Trust (but such authorization shall not prevent the Owner Trustee or the Paying Agent from contesting any such tax in appropriate proceedings proceedings, and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings) upon the written direction of the Depositor). The amount of any withholding tax imposed with respect to a Certificateholder the Certificateholders shall be treated as cash distributed to such Certificateholder Certificateholders at the time it is withheld by the Issuer Trust and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to a distribution, the Paying Agent may in its sole discretion withhold such amounts in accordance with this paragraph (csubsection 5.02(c).

Application of Trust Funds. (a) On each Payment DateAfter the Indenture is discharged, the Paying Agent will distribute to Certificateholders, on the basis of the Percentage Interest evidenced by their Trust Certificates, amounts deposited deposit in the Certificate Distribution Account amounts received for distribution pursuant hereto, in the following priority: (1) FIRST, to the Owner Trustee for all fees and expenses owed thereto and for any other amounts payable pursuant to Section 4.06 of Article IX hereof and (2) SECOND, to the Sale and Servicing Agreement with respect to such Payment DateCertificateholders. (b) On each Payment DateUpon request, the Paying Agent shall send to each Certificateholder the Certificateholders the statement or statements provided to the Owner Trustee by the Servicer pursuant to Section 4.10 9.01 of the Sale Transfer and Servicing Agreement with respect to such Payment Distribution Date. (c) In the event that any withholding tax is imposed on the IssuerTrust’s payment (or allocations allocation of income) to a Certificateholderthe Certificateholders, such tax shall reduce the amount otherwise distributable to the Certificateholder Certificateholders in accordance with this SectionSection 5.02. The Paying Agent will is hereby authorized and directed to retain from amounts otherwise distributable to the Certificateholders Owners sufficient funds for the payment of any tax that is legally owed by the Issuer Trust (but such authorization shall not prevent the Owner Trustee or the Paying Agent from contesting any such tax in appropriate proceedings proceedings, and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings) upon the written direction of the Depositor). The amount of any withholding tax imposed with respect to a Certificateholder the Certificateholders shall be treated as cash distributed to such Certificateholder Certificateholders at the time it is withheld by the Issuer Trust and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to a distribution, the Paying Agent may in its sole discretion withhold such amounts in accordance with this paragraph (csubsection 5.02(c).

Application of Trust Funds. (a) On each Payment Date, the Paying Agent will distribute to Certificateholders, on shall make the basis of the Percentage Interest evidenced by their Trust Certificates, amounts deposited distributions and payments set forth in the Certificate Distribution Account pursuant to Section 4.06 5.01 of the Sale and Servicing Agreement with respect to such Payment Datefrom amounts on deposit in the Collection Account and the Reserve Account, as applicable. (b) On or before the third Business Day following each Payment Date, the Paying Agent shall send to each Certificateholder DTC the statement or statements provided to the Owner Trustee Paying Agent by the Servicer Indenture Trustee pursuant to Section 4.10 5.03 of the Sale and Servicing Agreement with respect to such Payment Date. (c) In the event that any withholding tax is imposed on the Issuer’s Trust's payment (or allocations of income) to a Certificateholderthe Transferor, such tax shall reduce the amount otherwise distributable to the Certificateholder Transferor in accordance with this SectionSection 5.2. The Paying Agent will is hereby authorized and directed in accordance with the instructions of the Master Servicer to retain from amounts otherwise distributable to the Certificateholders Transferor sufficient funds for the payment of any tax that is legally owed by the Issuer Trust (but such authorization shall not prevent the Owner Trustee or the Paying Agent from contesting any such tax in appropriate proceedings proceedings, and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings) upon the written direction of the Depositor). The amount of any withholding tax imposed with respect to a Certificateholder the Transferor shall be treated as cash distributed to such Certificateholder the Transferor at the time it is withheld by the Issuer Trust and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to a distributiondistribution (such as a distribution to a non-U.S. Transferor), the Paying Agent may in its sole discretion accordance with the instructions of the Master Servicer shall withhold such amounts in accordance with this paragraph (c). In the event that the Transferor wishes to apply for a refund of any such withholding tax, the Owner Trustee and the Paying Agent shall reasonably cooperate with the Transferor in making such claim so long as the Transferor agrees to reimburse the Owner Trustee and the Paying Agent for any out-of-pocket expenses incurred.

Application of Trust Funds. ‌ (a) On each Payment Date, the The Certificate Paying Agent will distribute to Certificateholders, on the basis of the Percentage Interest evidenced by their Trust Certificates, each applicable Certificateholder any amounts deposited in the Certificate Distribution Account payable pursuant to Section 4.06 of the Sale and Servicing Agreement with respect to such Payment Date9.01(c). (b) On each Payment Date, the Paying Agent shall send to each Certificateholder the statement or statements provided to the Owner Trustee by the Servicer pursuant to Section 4.10 of the Sale and Servicing Agreement with respect to such Payment Date. (c) In the event that any withholding tax is imposed on the Issuer’s 's payment (or allocations of income) to a Certificateholder, such tax shall will reduce the amount otherwise distributable to the Certificateholder in accordance with this SectionCertificateholder. The Certificate Paying Agent will is hereby authorized and directed to retain from amounts otherwise distributable to the Certificateholders Certificateholder sufficient funds for the payment of any tax that is legally owed by the Issuer (but such authorization shall will not prevent the Owner Trustee or the Paying Agent Issuer from contesting any such tax in appropriate proceedings and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings) upon the written direction of the Depositor). The amount of any withholding tax imposed with respect to a the Certificateholder shall will be treated as cash distributed to such the Certificateholder at the time it is withheld by the Issuer and remitted to the appropriate taxing authority. If the amount withheld was not withheld from actual distributions, the Issuer may, at its option, require the Certificateholder to reimburse the Issuer for such withholding (and the Certificateholder agrees to reimburse the Issuer promptly following such request). If there is a possibility that withholding tax is payable with respect to a distributiondistribution (such as a distribution to a Non-U.S. Person), the Paying Agent Issuer may in its sole discretion direct the Certificate Paying Agent to withhold such amounts in accordance with this paragraph (cb). In the event that the Certificateholder wishes to apply for a refund of any such withholding tax, the Issuer will reasonably cooperate with the Certificateholder in making such claim so long as the Certificateholder agrees to reimburse the Certificate Paying Agent or the Delaware Trustee for any out-of-pocket expenses incurred.

Application of Trust Funds. (a) On each Payment Date, the Paying Agent will distribute to Certificateholders, on the basis of the Percentage Interest evidenced by their Trust Certificates, amounts deposited in the Certificate Distribution Account pursuant to Section 4.06 of the Sale and Servicing Agreement with respect to such Payment Date. (b) On each Payment Date, the Paying Agent shall send to each Certificateholder the statement or statements provided to the Owner Trustee by the Servicer pursuant to Section 4.10 of the Sale and Servicing Agreement with respect to such Payment Date. (c) In the event that any withholding tax is imposed on the Issuer’s payment (or allocations of income) to a Certificateholderan Owner, such tax shall reduce the amount otherwise distributable to the Certificateholder Owner in accordance with this Section. The Paying Agent will Owner Trustee is hereby authorized and directed to retain from amounts otherwise distributable to the Certificateholders Owners sufficient funds for the payment of any tax that is legally owed by the Issuer (but such authorization shall not prevent the Owner Trustee or the Paying Agent from contesting any such tax in appropriate proceedings and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings) upon the written direction of the Depositor). The amount of any withholding tax imposed with respect to a Certificateholder an Owner shall be treated as cash distributed to such Certificateholder Owner at the time it is withheld by the Issuer and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to a distribution, the Paying Agent Owner Trustee may in its sole discretion withhold such amounts in accordance with this paragraph (c).

Application of Trust Funds. (a) On each Payment Calculation Day and Distribution Date, the Paying Agent Owner Trustee will distribute to Certificateholders, on the basis of the in proportion to each Certificateholder's Certificate Percentage Interest evidenced by their Trust CertificatesInterest, amounts deposited in into the Certificate Distribution Account pursuant to Section 4.06 Sections 5.06 and 9.01 of the Sale and Servicing Agreement and Section 5.06(a) of the Indenture with respect to such Payment Distribution Date. (b) On each Payment Distribution Date, the Paying Agent Owner Trustee shall send to each Certificateholder the statement or statements provided to the Owner Trustee by the Master Servicer pursuant to Section 4.10 5.07 of the Sale and Servicing Agreement with respect to such Payment Distribution Date. (c) In the event that any withholding tax is imposed on the Issuer’s Trust's payment (or allocations of income) to a Certificateholderan Owner, such tax shall reduce the amount otherwise distributable to the Certificateholder Owner in accordance with this Section. The Owner Trustee is hereby authorized and directed to retain, or cause the Paying Agent will retain to retain, from amounts otherwise distributable to the Certificateholders Owners sufficient funds for the payment of any tax that is legally owed by the Issuer Trust (but such authorization shall not prevent the Owner Trustee or the Paying Agent from contesting any such tax in appropriate proceedings proceedings, and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings) upon the written direction of the Depositor). The amount of any withholding tax imposed with respect to a Certificateholder an Owner shall be treated as cash distributed to such Certificateholder Owner at the time it is withheld by the Issuer Trust and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to a distribution, the Paying Agent Owner Trustee may in its sole discretion withhold such amounts in accordance with this paragraph (c).

Application of Trust Funds. (a) On each Payment Distribution Date, the Paying Agent Owner Trustee will distribute to Certificateholders, on the basis of the Percentage Interest evidenced by their Trust Certificates, amounts deposited in the Certificate Distribution Account pursuant to Section 4.06 Sections 5.06 and 5.07 of the Sale and Servicing Agreement with respect to such Payment Distribution Date. (ba) On each Payment Distribution Date, the Paying Agent Owner Trustee shall send to each Certificateholder the statement or statements provided to the Owner Trustee by the Servicer pursuant to Section 4.10 5.09 of the Sale and Servicing Agreement with respect to such Payment Distribution Date. (cb) In the event that any withholding tax is imposed on the Issuer’s Trust's payment (or allocations of income) to a Certificateholderan Owner, such tax shall reduce the amount otherwise distributable to the Certificateholder Owner in accordance with this Section. The Paying Agent will Owner Trustee is hereby authorized and directed to retain from amounts otherwise distributable to the Certificateholders Owners sufficient funds for the payment of any tax that is legally owed by the Issuer Trust (but such authorization shall not prevent the Owner Trustee or the Paying Agent from contesting any such tax in appropriate proceedings and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings) upon the written direction of the Depositor). The amount of any withholding tax imposed with respect to a Certificateholder an Owner shall be treated as cash distributed to such Certificateholder Owner at the time it is withheld by the Issuer Trust and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to a distributiondistribution (such as a distribution to a nonU.S. Owner), the Paying Agent Owner Trustee may in its sole discretion withhold such amounts in accordance with this paragraph (c).

Application of Trust Funds. (a) On each Payment Distribution Date, the Paying Agent Owner Trustee will distribute to Certificateholders, on the basis of the Percentage Interest evidenced by their Trust Certificatesa pro rata basis, amounts deposited in the Certificate Distribution Account pursuant to Section 4.06 Sections 5.02 and 5.05 of the Sale and Servicing Agreement with respect to such Payment Distribution Date. (b) On each Payment Distribution Date, the Paying Agent Owner Trustee shall send to each Certificateholder the statement or statements provided to the Owner Trustee by the Master Servicer pursuant to Section 4.10 5.07 of the Sale and Servicing Agreement with respect to such Payment Distribution Date. (c) In the event that any withholding tax is imposed on the Issuer’s Trust's payment (or allocations of income) to a Certificateholderan Owner, such tax shall reduce the amount otherwise distributable to the Certificateholder Owner in accordance with this Section. The Owner Trustee is hereby authorized and directed to retain, or cause the Paying Agent will retain to retain, from amounts otherwise distributable to the Certificateholders Owners sufficient funds for the payment of any tax that is legally owed by the Issuer Trust (but such authorization shall not prevent the Owner Trustee or the Paying Agent from contesting any such tax in appropriate proceedings proceedings, and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings) upon the written direction of the Depositor). The amount of any withholding tax imposed with respect to a Certificateholder an Owner shall be treated as cash distributed to such Certificateholder Owner at the time it is withheld by the Issuer Trust and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to a distribution, the Paying Agent Owner Trustee may in its sole discretion withhold such amounts in accordance with this paragraph (c).

Application of Trust Funds. (a) On each Payment Date, the Paying Agent Owner Trustee will distribute to Certificateholders, on the basis of the Percentage Interest evidenced by their Trust Certificates, amounts deposited in the Certificate Distribution Account pursuant to Section 4.06 of the Sale and Servicing Agreement with respect to such Payment Date. (b) On each Payment Date, the Paying Agent Owner Trustee shall send to each Certificateholder the statement or statements provided to the Owner Trustee by the Servicer pursuant to Section 4.10 of the Sale and Servicing Agreement with respect to such Payment Date. (c) In the event that any withholding tax is imposed on the Issuer’s 's payment (or allocations of income) to a Certificateholderan Owner, such tax shall reduce the amount otherwise distributable to the Certificateholder Owner in accordance with this Section. The Paying Agent will Owner Trustee is hereby authorized and directed to retain from amounts otherwise distributable to the Certificateholders Owners sufficient funds for the payment of any tax that is legally owed by the Issuer (but such authorization shall not prevent the Owner Trustee or the Paying Agent from contesting any such tax in appropriate proceedings and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings) upon the written direction of the Depositor). The amount of any withholding tax imposed with respect to a Certificateholder an Owner shall be treated as cash distributed to such Certificateholder Owner at the time it is withheld by the Issuer and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to a distribution, the Paying Agent Owner Trustee may in its sole discretion withhold such amounts in accordance with this paragraph (c).

Application of Trust Funds. (a) On each Payment Distribution Date, the Owner Trustee shall cause the Paying Agent will to distribute to Certificateholders, on the basis of the Percentage Interest evidenced by their Trust Certificates, Certificateholders amounts deposited in the Certificate Distribution Account pursuant to Section 4.06 5.06 of the Sale and Servicing Agreement with respect to such Payment Distribution Date. (b) On each Payment Distribution Date, the Owner Trustee shall cause the Paying Agent shall to send to each Certificateholder the statement or statements provided to the Owner Trustee by the Servicer pursuant to Section 4.10 5.08 of the Sale and Servicing Agreement with respect to such Payment Distribution Date. (c) In the event that any withholding tax is imposed on the Issuer’s Trust's payment (or allocations of income) to a Certificateholder, such tax shall reduce the amount otherwise distributable to the such Certificateholder in accordance with this Section. The Owner Trustee and the Paying Agent will are hereby authorized and directed to retain from amounts otherwise distributable to the Certificateholders sufficient funds for the payment of any tax that is legally owed by the Issuer Trust (but such authorization shall not prevent the Owner Trustee or the Paying Agent from contesting any such tax in appropriate proceedings and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings) upon the written direction of the Depositor). The amount of any withholding tax imposed with respect to a Certificateholder shall be treated as cash distributed to such Certificateholder at the time it is withheld by the Issuer Trust and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to a distributiondistribution (such as a distribution to a non-U.S. Certificateholder), the Owner Trustee or the Paying Agent may in its sole discretion withhold such amounts in accordance with this paragraph (c)paragraph.

Application of Trust Funds. (a) On each Payment DateAfter the Indenture is discharged, the Paying Agent will distribute to Certificateholders, on the basis of the Percentage Interest evidenced by their Trust Certificates, amounts deposited deposit in the Certificate Distribution Account amounts received for distribution pursuant hereto, in the following priority: (i) FIRST, to the Owner Trustee for all fees and expenses owed thereto and for any other amounts payable pursuant to Section 4.06 of Article IX hereof and (ii) SECOND, to the Sale and Servicing Agreement with respect to such Payment DateCertificateholders. (b) On each Payment DateUpon request, the Paying Agent shall send to each Certificateholder the Certificateholders the statement or statements provided to the Owner Trustee by the Servicer pursuant to Section 4.10 9.01 of the Sale Transfer and Servicing Agreement with respect to such Payment Distribution Date. (c) In the event that any withholding tax is imposed on the IssuerTrust’s payment (or allocations allocation of income) to a Certificateholderthe Certificateholders, such tax shall reduce the amount otherwise distributable to the Certificateholder Certificateholders in accordance with this SectionSection 5.02. The Paying Agent will is hereby authorized and directed to retain from amounts otherwise distributable to the Certificateholders Owners sufficient funds for the payment of any tax that is legally owed by the Issuer Trust (but such authorization shall not prevent the Owner Trustee or the Paying Agent from contesting any such tax in appropriate proceedings proceedings, and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings) upon the written direction of the Depositor). The amount of any withholding tax imposed with respect to a Certificateholder the Certificateholders shall be treated as cash distributed to such Certificateholder Certificateholders at the time it is withheld by the Issuer Trust and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to a distribution, the Paying Agent may in its sole discretion withhold such amounts in accordance with this paragraph (cSection 5.02(c).

Application of Trust Funds. (a) On each Payment Date, the Trust Paying Agent will shall distribute to Certificateholdersthe Residual Interest Certificateholder, pro rata, from amounts on the basis of the Percentage Interest evidenced by their Trust Certificates, amounts deposited deposit in the Certificate Distribution Account the amounts deposited therein pursuant to Section 4.06 3.2 of the Sale and Servicing Agreement with respect to such Payment Date. (b) On each Payment Date, the Trust Paying Agent shall send to each the Residual Interest Certificateholder the statement or statements provided to the Owner Trustee by the Servicer pursuant to Section 4.10 Article III of the Sale and Servicing Agreement with respect to such Payment Date. (c) In the event that any withholding tax is imposed on the Issuer’s Trust's payment (or allocations allocation of income) to a the Residual Interest Certificateholder, such tax shall reduce the amount otherwise distributable to the Residual Interest Certificateholder in accordance with this Section. The Trust Paying Agent will is hereby authorized and directed to retain from amounts otherwise distributable to the Certificateholders Residual Interest Owner sufficient funds for the payment of any tax that is legally owed by the Issuer Trust (but such authorization shall not prevent the Owner Trustee or the Paying Agent from contesting any such tax in appropriate proceedings proceedings, and withholding payment of if such tax, if permitted by law, pending the outcome of such proceedings) upon the written direction of the Depositor). The amount of any withholding tax imposed with respect to a the Residual Interest Certificateholder shall be treated as cash distributed to such Residual Interest Certificateholder at the time it is withheld by the Issuer Trust and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to a distribution, the Trust Paying Agent may in its sole discretion withhold such amounts in accordance with this paragraph (c).

Application of Trust Funds. (a) On the Closing Date and on each Payment Date, the Trust Agent, on behalf of the Owner Trustee, shall direct the Paying Agent will to distribute to Certificateholders, all amounts on the basis of the Percentage Interest evidenced by their Trust Certificates, amounts deposited deposit in the Certificate Distribution Account pursuant first to Section 4.06 the Administrator in payment of any compensation due under the Sale Administration Agreement and Servicing Agreement with respect then, the balance to such Payment Datethe Holders pro rata. (b) On each Payment Date, the Trust Agent, on behalf of the Owner Trustee, shall cause the Paying Agent shall to send to each Certificateholder Holder the statement or statements provided to the Owner Trustee or the Trust Agent by the Servicer Indenture Trustee pursuant to Section 4.10 8.07 of the Sale and Servicing Agreement Indenture with respect to such Payment Date. (c) In the event that any withholding tax is imposed on the Issuer’s Trust's payment (or allocations of income) to a CertificateholderHolder, such tax shall reduce the amount otherwise distributable to the Certificateholder Holder in accordance with this Section. The Paying Trust Agent will is hereby authorized and directed to retain from amounts otherwise distributable to the Certificateholders Holders sufficient funds for the payment of any tax that is legally owed by the Issuer Trust (but such authorization shall not prevent the Owner Trustee or the Paying Trust Agent from contesting any such tax in appropriate proceedings proceedings, and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings) upon the written direction of the Depositor). The amount of any withholding tax imposed with respect to a Certificateholder Holder shall be treated as cash distributed to such Certificateholder Holder at the time it is withheld by the Issuer Trust and remitted to the appropriate taxing authority. If the Trust Agent receives written notice that there is a possibility that withholding tax is payable with respect to a distribution, the Paying Trust Agent may in its sole discretion shall withhold such amounts in accordance with this paragraph (c).