Common use of Available Depositor Collections True-up Clause in Contracts

Available Depositor Collections True-up. On each Determination Date, the Servicer will deposit in the Collection Account the lesser of (A) the portion, if any, of the amount stated in Section 4.1(b)(i)(A)(I) for the related Collection Period that has not previously been deposited in the Collection Account under Section 4.1(b)(i)(A)(I), and (B) the aggregate amount paid to the Depositors or to the Depositor Interest Account for distribution to the holders of the Depositor Interest for the related Collection Period under Section 4.1(b)(i)(C). Any amount deposited under this Section 4.1(b)(iv) will be repaid to the Servicer by the holders of the Depositor Interest or, if not so repaid, may be withheld by the Servicer from later distributions to the holders of the Depositor Interest.

Appears in 38 contracts

Samples: Series 2020 (Ford Credit Floorplan LLC), Series 2020 (Ford Credit Floorplan LLC), Series 2020 (Ford Credit Floorplan LLC)

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Available Depositor Collections True-up. On each Determination Date, the Servicer will deposit in into the Collection Account the lesser of (A) the portion, if any, of the amount stated described in Section 4.1(b)(i)(A)(I) for with respect to the related Collection Period that has not previously been deposited in into the Collection Account under pursuant to Section 4.1(b)(i)(A)(I), and (B) the aggregate amount paid to the Depositors or to the Depositor Interest Account for distribution to the holders of the Depositor Interest for with respect to the related Collection Period under pursuant to Section 4.1(b)(i)(C). Any amount deposited under pursuant to this Section 4.1(b)(iv) will be repaid to the Servicer by the holders of the Depositor Interest or, if not so repaid, may be withheld by the Servicer from later subsequent distributions to the holders of the Depositor Interest.

Appears in 27 contracts

Samples: Series 2012 (Ford Credit Floorplan Master Owner Trust a Series 2012-4), Series 2012 (Ford Credit Floorplan Master Owner Trust a Series 2012-2), Ford Credit Floorplan Master Owner Trust A

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Available Depositor Collections True-up. On each Determination Date, the Servicer will deposit in the Collection Account the lesser of (A) the portion, if any, of the amount stated described in Section 4.1(b)(i)(A)(I) for the related Collection Period that has not previously been deposited in the Collection Account under Section 4.1(b)(i)(A)(I), ) and (B) the aggregate amount paid to the Depositors or to the Depositor Interest Account for distribution to the holders of the Depositor Interest for the related Collection Period under Section 4.1(b)(i)(C). Any amount deposited under this Section 4.1(b)(iv) will be repaid to the Servicer by the holders of the Depositor Interest or, if not so repaid, may be withheld by the Servicer from later subsequent distributions to the holders of the Depositor Interest.

Appears in 6 contracts

Samples: Ford Credit Floorplan Master Owner Trust A, Ford Credit Floorplan Master Owner Trust A, Ford Credit Floorplan Master Owner Trust A

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