Common use of Calculations; Distribution of Payments; Delivery of Notices Clause in Contracts

Calculations; Distribution of Payments; Delivery of Notices. The Cap Contract Administrator hereby agrees to perform the calculations necessary to distribute payments in accordance with this Section 4. The Cap Contract Administrator shall perform such calculations based on (x) the Note Principal Balance of the Benefited Notes provided by the Indenture Trustee pursuant to the Indenture and (y) the Notional Balances, Day Count Fractions and values of LIBOR provided by the Counterparty pursuant to the Cap Contract. The Cap Contract Administrator shall, absent manifest error, be entitled to rely on information provided by the Indenture Trustee and the Counterparty. On the Business Day of receipt of any payment from the Counterparty, the Cap Contract Administrator shall withdraw the amount of such payment from the Cap Contract Account and distribute such amounts sequentially, as follows:

Calculations; Distribution of Payments; Delivery of Notices. The Cap Contract Administrator hereby agrees to perform the calculations necessary to distribute payments in accordance with this Section 4. The Cap Contract Administrator shall perform such calculations based on (x) the Note Principal Balance of the Benefited Notes provided by the Indenture Trustee pursuant to the Indenture and (y) the Notional Balances, Day Count Fractions and values of LIBOR provided by the Counterparty pursuant to the Cap ContractContracts. The Cap Contract Administrator shall, absent manifest error, be entitled to rely on information provided by the Indenture Trustee and the Counterparty. On the Business Day of receipt of any payment from the Counterparty, the Cap Contract Administrator shall withdraw the amount of such payment from the Cap Contract Account and distribute such amounts sequentially, as follows: