Common use of Calculation of Investor Losses Clause in Contracts

Calculation of Investor Losses. (a) For each Distribution Date, the Master Servicer shall calculate the Class Investor Charged-Off Amount and the Class Cumulative Investor Charged-Off Amount with respect to each Class, in each case as of the end of the related Due Period. (b) If on any Distribution Date, the Class Investor Charged-Off Amount with respect to any Class exceeds the Class Charge-Off Reimbursement Amount with respect to such Class, the Class Investor Interest and the Class Invested Amount for such Class shall each be reduced by the amount of such excess (an "Investor Loss" with respect to such Class). (c) On each Distribution Date the Class Investor Interest and the Class Invested Amount for each Class shall be increased by, and the amount of aggregate unreimbursed Investor Losses for each such Class shall be decreased by, the positive difference, if any, between the Class Charge-Off Reimbursement Amount on such Distribution Date and the Class Investor Charged-Off Amount for such Distribution Date; provided, however, that neither the Class Invested Amount nor the Class Investor Interest shall exceed the Class Initial Investor Interest for such Class minus the sum of (x) the aggregate amount of payments of Certificate Principal paid to the Investor Certificateholders of such Class prior to such Distribution Date, (y) in the case of the Class Investor Interest, the amount on deposit in the Series Principal Funding Account for the benefit of such Class in respect of Collections of Principal Receivables and (z) the aggregate amount of losses, if any, on investments of principal of funds on deposit in the Series Principal Funding Account for the benefit of such Class; and provided, further, that the amount of Investor Losses with respect to any Class shall not be reduced to an amount less than zero.

Calculation of Investor Losses. (a) For each Distribution Date, the Master Servicer shall calculate the Class Investor Charged-Off Amount and the Class Cumulative Investor Charged-Off Amount with respect to each Class, in each case as of the end of the related Due Period. (b) If on any Distribution Date, the Class Investor Charged-Off Amount with respect to any Class exceeds the Class Charge-Off Reimbursement Amount with respect to such Class, the Class Investor Interest and the Class Invested Amount for such Class shall each be reduced by the amount of such excess (an "“Investor Charge-Off Loss" ” with respect to such Class). (c) On each Distribution Date the Class Investor Interest and the Class Invested Amount for each Class shall be increased by, and the amount of aggregate unreimbursed Investor Losses for each such Class shall be decreased by, the positive difference, if any, between the Class Charge-Off Reimbursement Amount on such Distribution Date and the Class Investor Charged-Off Amount for such Distribution Date; provided, however, that neither the Class Invested Amount nor the Class Investor Interest shall exceed the Class Initial Investor Interest (after giving effect to any increase therein pursuant to Section 31) for such Class minus the sum of (x) the aggregate amount of payments of Certificate Principal paid to the Investor Certificateholders of such Class prior to such Distribution Date, (y) in the case of the Class Investor Interest, the amount on deposit in the Series Principal Funding Account for the benefit of such Class in respect of Collections of Certificate Principal Receivables and (z) the aggregate amount of losses, if any, on investments of principal of funds on deposit in the Series Principal Funding Account for the benefit of such Class; and provided, further, that the amount of Investor Losses with respect to any Class shall not be reduced to an amount less than zero.

Calculation of Investor Losses. (a) For each Distribution Date, the Master Servicer shall calculate the Class Investor Charged-Off Amount and the Class Cumulative Investor Charged-Off Amount with respect to each Class, in each case as of the end of the related Due Period. (b) If on any Distribution Date, the Class Investor Charged-Off Amount with respect to any Class exceeds the Class Charge-Off Reimbursement Amount with respect to such Class, the Class Investor Interest and the Class Invested Amount for such Class shall each be reduced by the amount of such excess (an "Investor Charge-Off Loss" with respect to such Class). (c) On each Distribution Date the Class Investor Interest and the Class Invested Amount for each Class shall be increased by, and the amount of aggregate unreimbursed Investor Losses for each such Class shall be decreased by, the positive difference, if any, between the Class Charge-Off Reimbursement Amount on such Distribution Date and the Class Investor Charged-Off Amount for such Distribution Date; provided, however, that neither the Class Invested Amount nor the Class Investor Interest shall exceed the Class Initial Investor Interest for such Class minus the sum of (x) the aggregate amount of payments of Certificate Principal paid to the Investor Certificateholders of such Class prior to such Distribution Date, (y) in the case of the Class Investor Interest, the amount on deposit in the Series Principal Funding Account for the benefit of such Class in respect of Collections of Certificate Principal Receivables and (z) the aggregate amount of losses, if any, on investments of principal of funds on deposit in the Series Principal Funding Account for the benefit of such Class; and provided, further, that the amount of Investor Losses with respect to any Class shall not be reduced to an amount less than zero.

Calculation of Investor Losses. (a) For each Distribution Date, the Master Servicer shall calculate the Class Investor Charged-Off Amount and the Class Cumulative Investor Charged-Off Amount with respect to each Class, in each case as of the end of the related Due Period. (b) If on any Distribution Date, the Class Investor Charged-Off Amount with respect to any Class exceeds the Class Charge-Off Reimbursement Amount with respect to such Class, the Class Investor Interest and the Class Invested Amount for such Class shall each be reduced by the amount of such excess (an "“Investor Charge-Off Loss" ” with respect to such Class). (c) On each Distribution Date the Class Investor Interest and the Class Invested Amount for each Class shall be increased by, and the amount of aggregate unreimbursed Investor Losses for each such Class shall be decreased by, the positive difference, if any, between the Class Charge-Off Reimbursement Amount on such Distribution Date and the Class Investor Charged-Off Amount for such Distribution Date; provided, however, that neither the Class Invested Amount nor the Class Investor Interest shall exceed the Class Initial Investor Interest (after giving effect to any increase therein pursuant to Section 32) for such Class minus the sum of (x) the aggregate amount of payments of Certificate Principal paid to the Investor Certificateholders of such Class prior to such Distribution Date, (y) in the case of the Class Investor Interest, the amount on deposit in the Series Principal Funding Account for the benefit of such Class in respect of Collections of Certificate Principal Receivables and (z) the aggregate amount of losses, if any, on investments of principal of funds on deposit in the Series Principal Funding Account for the benefit of such Class; and provided, further, that the amount of Investor Losses with respect to any Class shall not be reduced to an amount less than zero.

Calculation of Investor Losses. (a) For each Distribution Date, the Master Servicer shall calculate the Class Investor Charged-Off Amount and the Class Cumulative Investor Charged-Off Amount with respect to each Class, in each case as of the end of the related Due Period. (b) If on any Distribution Date, the Class Investor Charged-Off Amount with respect to any Class exceeds the Class Charge-Off Reimbursement Amount with respect to such Class, the Class Investor Interest and the Class Invested Amount for such Class shall each be reduced by the amount of such excess (an "Investor Charge-Off Loss" with respect to such Class). . 50 61 (c) On each Distribution Date the Class Investor Interest and the Class Invested Amount for each Class shall be increased by, and the amount of aggregate unreimbursed Investor Losses for each such Class shall be decreased by, the positive difference, if any, between the Class Charge-Off Reimbursement Amount on such Distribution Date and the Class Investor Charged-Off Amount for such Distribution Date; provided, however, that neither the Class Invested Amount nor the Class Investor Interest shall exceed the Class Initial Investor Interest for such Class minus the sum of (x) the aggregate amount of payments of Certificate Principal paid to the Investor Certificateholders of such Class prior to such Distribution Date, (y) in the case of the Class Investor Interest, the amount on deposit in the Series Principal Funding Account for the benefit of such Class in respect of Collections of Certificate Principal Receivables and (z) the aggregate amount of losses, if any, on investments of principal of funds on deposit in the Series Principal Funding Account for the benefit of such Class; and provided, further, that the amount of Investor Losses with respect to any Class shall not be reduced to an amount less than zero.

Calculation of Investor Losses. (a) For each Distribution Date, the Master Servicer shall calculate the Class Investor Charged-Off Amount and the Class Cumulative Investor Charged-Off Amount with respect to each Class, in each case as of the end of the related Due Period. (b) If on any Distribution Date, the Class Investor Charged-Off Amount with respect to any Class exceeds the Class Charge-Off Reimbursement Amount with respect to such Class, the Class Investor Interest and the Class Invested Amount for such Class shall each be reduced by the amount of such excess (an "“Investor Charge-Off Loss" ” with respect to such Class). (c) On each Distribution Date the Class Investor Interest and the Class Invested Amount for each Class shall be increased by, and the amount of aggregate unreimbursed Investor Losses for each such Class shall be decreased by, the positive difference, if any, between the Class Charge-Off Reimbursement Amount on such Distribution Date and the Class Investor Charged-Off Amount for such Distribution Date; provided, however, that neither the Class Invested Amount nor the Class Investor Interest shall exceed the Class Initial Investor Interest for such Class minus the sum of (x) the aggregate amount of payments of Certificate Principal paid to the Investor Certificateholders of such Class prior to such Distribution Date, (y) in the case of the Class Investor Interest, the amount on deposit in the Series Principal Funding Account for the benefit of such Class in respect of Collections of Certificate Principal Receivables and (z) the aggregate amount of losses, if any, on investments of principal of funds on deposit in the Series Principal Funding Account for the benefit of such Class; and provided, further, that the amount of Investor Losses with respect to any Class shall not be reduced to an amount less than zero.

Calculation of Investor Losses. (a) For each Distribution Date, the Master Servicer shall calculate the Class Investor Charged-Off Amount and the Class Cumulative Investor Charged-Off Amount with respect to each Class, in each case as of the end of the related Due Period. (b) If on any Distribution Date, the Class Investor Charged-Off Amount with respect to any Class exceeds the Class Charge-Off Reimbursement Amount with respect to such Class, the Class Investor Interest and the Class Invested Amount for such Class shall each be reduced by the amount of such excess (an "Investor Loss" with respect to such Class). (c) On each Distribution Date the Class Investor Interest and the Class Invested Amount for each Class shall be increased by, and the amount of aggregate unreimbursed Investor Losses for each such Class shall be decreased by, the positive difference, if any, between the Class Charge-Off Reimbursement Amount on such Distribution Date and the Class Investor Charged-Off Amount for such Distribution Date; provided, however, that neither the Class Invested Amount nor the Class Investor Interest shall exceed the Class Initial Investor Interest for such Class minus the sum of (x) the aggregate amount of payments of Certificate Principal paid to the Investor Certificateholders of such Class prior to such Distribution Date, (y) in the case of the Class Investor Interest, the amount on deposit in the Series Principal Funding Account for the benefit of such Class in respect of Collections of Principal Receivables and (z) the aggregate amount of losses, if any, on investments of principal of funds on deposit in the Series Principal Funding Account for the benefit of such Class; and provided, 62 further, that the amount of Investor Losses with respect to any Class shall not be reduced to an amount less than zero.

Calculation of Investor Losses. (a) For each Distribution Date, the Master Servicer shall calculate the Class Investor Charged-Off Amount and the Class Cumulative Investor Charged-Off Amount with respect to each Class, in each case as of the end of the related Due Period. (b) If on any Distribution Date, the Class Investor Charged-Off Amount with respect to any Class exceeds the Class Charge-Off Reimbursement Amount with respect to such Class, the Class Investor Interest and the Class Invested Amount for such Class shall each be reduced by the amount of such excess (an "Investor Charge-Off Loss" with respect to such Class).. 50 61 (c) On each Distribution Date the Class Investor Interest and the Class Invested Amount for each Class shall be increased by, and the amount of aggregate unreimbursed Investor Losses for each such Class shall be decreased by, the positive difference, if any, between the Class Charge-Off Reimbursement Amount on such Distribution Date and the Class Investor Charged-Off Amount for such Distribution Date; provided, however, that neither the Class Invested Amount nor the Class Investor Interest shall exceed the Class Initial Investor Interest for such Class minus the sum of (x) the aggregate amount of payments of Certificate Principal paid to the Investor Certificateholders of such Class prior to such Distribution Date, (y) in the case of the Class Investor Interest, the amount on deposit in the Series Principal Funding Account for the benefit of such Class in respect of Collections of Certificate Principal Receivables and (z) the aggregate amount of losses, if any, on investments of principal of funds on deposit in the Series Principal Funding Account for the benefit of such Class; and provided, further, that the amount of Investor Losses with respect to any Class shall not be reduced to an amount less than zero.

Calculation of Investor Losses. (a) For each Distribution Date, the Master Servicer shall calculate the Class Investor Charged-Off Amount and the Class Cumulative Investor Charged-Off Amount with respect to each Class, in each case as of the end of the related Due Period. (b) If on any Distribution Date, the Class Investor Charged-Off Amount with respect to any Class exceeds the Class Charge-Off Reimbursement Amount with respect to such Class, the Class Investor Interest and the Class Invested Amount for such Class shall each be reduced by the amount of such excess (an "Investor Charge-Off Loss" with respect to such Class). (c) On each Distribution Date the Class Investor Interest and the Class Invested Amount for each Class shall be increased by, and the amount of aggregate unreimbursed Investor Losses for each such Class shall be decreased by, the positive difference, if any, between the Class Charge-Off Reimbursement Amount on such Distribution Date and the Class Investor Charged-Off Amount for such Distribution Date; provided, however, that neither the Class Invested Amount nor the Class Investor Interest shall exceed the Class Initial Investor Interest (after giving effect to any increase therein pursuant to Section 32) for such Class minus the sum of (x) the aggregate amount of payments of Certificate Principal paid to the Investor Certificateholders of such Class prior to such Distribution Date, (y) in the case of the Class Investor Interest, the amount on deposit in the Series Principal Funding Account for the benefit of such Class in respect of Collections of Certificate Principal Receivables and (z) the aggregate amount of losses, if any, on investments of principal of funds on deposit in the Series Principal Funding Account for the benefit of such Class; and provided, further, that the amount of Investor Losses with respect to any Class shall not be reduced to an amount less than zero.

Calculation of Investor Losses. (a) For each Distribution Date, the Master Servicer shall calculate the Class Investor Charged-Off Amount and the Class Cumulative Investor Charged-Off Amount with respect to each Class, in each case as of the end of the related Due Period. (b) If on any Distribution Date, the Class Investor Charged-Off Amount with respect to any Class exceeds the Class Charge-Off Reimbursement Amount with respect to such Class, the Class Investor Interest and the Class Invested Amount for such Class shall each be reduced by the amount of such excess (an "“Investor Loss" ” with respect to such Class). (c) On each Distribution Date the Class Investor Interest and the Class Invested Amount for each Class shall be increased by, and the amount of aggregate unreimbursed Investor Losses for each such Class shall be decreased by, the positive difference, if any, between the Class Charge-Off Reimbursement Amount on such Distribution Date and the Class Investor Charged-Off Amount for such Distribution Date; provided, however, that neither the Class Invested Amount nor the Class Investor Interest shall exceed the Class Initial Investor Interest for such Class minus the sum of (x) the aggregate amount of payments of Certificate Principal paid to the Investor Certificateholders of such Class prior to such Distribution Date, (y) in the case of the Class Investor Interest, the amount on deposit in the Series Principal Funding Account for the benefit of such Class in respect of Collections of Principal Receivables and (z) the aggregate amount of losses, if any, on investments of principal of funds on deposit in the Series Principal Funding Account for the benefit of such Class; and provided, further, that the amount of Investor Losses with respect to any Class shall not be reduced to an amount less than zero.

Calculation of Investor Losses. (a) For each Distribution Date, the Master Servicer shall calculate the Class Investor Charged-Off Amount and the Class Cumulative Investor Charged-Off Amount with respect to each Class, in each case as of the end of the related Due Period. (b) If on any Distribution Date, the Class Investor Charged-Charged- Off Amount with respect to any Class exceeds the Class Charge-Off Reimbursement Amount with respect to such Class, the Class Investor Interest and the Class Invested Amount for such Class shall each be reduced by the amount of such excess (an "Investor Loss" with respect to such Class). (c) On each Distribution Date the Class Investor Interest and the Class Invested Amount for each Class shall be increased by, and the amount of aggregate unreimbursed Investor Losses for each such Class shall be decreased by, the positive difference, if any, between the Class Charge-Off Reimbursement Amount on such Distribution Date and the Class Investor Charged-Off Amount for such Distribution Date; provided, however, that neither the Class Invested Amount nor the Class Investor Interest shall exceed the Class Initial Investor Interest for such Class minus the sum of (x) the aggregate amount of payments of Certificate Principal paid to the Investor Certificateholders of such Class prior to such Distribution Date, (y) in the case of the Class Investor Interest, the amount on deposit in the Series Principal Funding Account for the benefit of such Class in respect of Collections of Principal Receivables and (z) the aggregate amount of losses, if any, on investments of principal of funds on deposit in the Series Principal Funding Account for the benefit of such Class; and provided, further, that the amount of Investor Losses with respect to any Class shall not be reduced to an amount less than zero.;