Common use of Cash Reserve Account Clause in Contracts

Cash Reserve Account. a) On each Transfer Date, if and to the extent necessary, the Trust shall instruct the Custodian to withdraw from amounts deposited to the Cash Reserve Account in respect of a Cash Reserve Event (but not in respect of the Pre-Accumulation Reserve Period) and deposit to the Accumulations Account an amount equal to the related Cash Reserve Draw which shall be applied on account of that portion of the Cumulative Deficiency attributable to, (i) first, paragraph (c) of the definition thereof and, (ii) second, paragraph (b) of the definition thereof. b) On the Targeted Principal Distribution Date, the Trust shall instruct the Custodian to withdraw all amounts deposited to the Cash Reserve Account in respect of the Pre-Accumulation Reserve Period which are necessary to ensure (to the extent possible) payment in full of all amounts then owing on the Series 2023-1 Notes and deposit such amounts to the Accumulations Account. c) On the earlier of (i) the Reporting Day on which the Invested Amount of the Series 2023-1 Ownership Interest has been reduced to zero, (ii) the Calculation Day on which a Cash Reserve Event ceases to exist, and (iii) the Series Termination Date, the Trust shall instruct the Custodian to release the balance, if any, remaining in the Cash Reserve Account (and deposited thereto in respect of a Cash Reserve Event) to the Seller in full satisfaction of any obligation to the Seller in respect of such amounts deposited therein. If at any time the Available Cash Reserve Amount exceeds the Required Cash Reserve Amount, the Trust shall instruct the Custodian to immediately release such excess to the Seller.

Cash Reserve Account. ‌ (a) On each Transfer Date, if and to the extent necessary, the Trust shall instruct the Custodian to withdraw from amounts deposited to the Cash Reserve Account in respect of a Cash Reserve Event (but not in respect of the Pre-Accumulation Reserve Period) and deposit to the Accumulations Account an amount equal to the related Cash Reserve Draw which shall be applied on account of that portion of the Cumulative Deficiency attributable to, (i) first, paragraph (c) of the definition thereof and, (ii) second, paragraph (b) of the definition thereof. (b) On the Targeted Principal Distribution Date, the Trust shall instruct the Custodian to withdraw all amounts deposited to the Cash Reserve Account in respect of the Pre-Accumulation Reserve Period which are necessary to ensure (to the extent possible) payment in full of all amounts then owing on the Series 2023-1 2 Notes and to the Swap Counterparty and deposit such amounts to the Accumulations Account. (c) On the earlier of (i) the Reporting Day on which the Invested Amount of the Series 2023-1 2 Ownership Interest has been reduced to zero, (ii) the Calculation Day on which a Cash Reserve Event ceases to exist, and (iii) the Series Termination Date, the Trust shall instruct the Custodian to release the balance, if any, remaining in the Cash Reserve Account (and deposited thereto in respect of a Cash Reserve Event) to the Seller in full satisfaction of any obligation to the Seller in respect of such amounts deposited therein. If at any time the Available Cash Reserve Amount exceeds the Required Cash Reserve Amount, the Trust shall instruct the Custodian to immediately release such excess to the Seller.

Cash Reserve Account. ‌ a) On each Transfer Date, if and to the extent necessary, the Trust shall instruct the Custodian to withdraw from amounts deposited to the Cash Reserve Account in respect of a Cash Reserve Event (but not in respect of the Pre-Accumulation Reserve Period) and deposit to the Accumulations Account an amount equal to the related Cash Reserve Draw which shall be applied on account of that portion of the Cumulative Deficiency attributable to, (i) first, paragraph (c) of the definition thereof and, (ii) second, paragraph (b) of the definition thereof. b) On the Targeted Principal Distribution Date, the Trust shall instruct the Custodian to withdraw all amounts deposited to the Cash Reserve Account in respect of the Pre-Accumulation Reserve Period which are necessary to ensure (to the extent possible) payment in full of all amounts then owing on the Series 20232022-1 3 Notes and deposit such amounts to the Accumulations Account. c) On the earlier of (i) the Reporting Day on which the Invested Amount of the Series 20232022-1 3 Ownership Interest has been reduced to zero, (ii) the Calculation Day on which a Cash Reserve Event ceases to exist, and (iii) the Series Termination Date, the Trust shall instruct the Custodian to release the balance, if any, remaining in the Cash Reserve Account (and deposited thereto in respect of a Cash Reserve Event) to the Seller in full satisfaction of any obligation to the Seller in respect of such amounts deposited therein. If at any time the Available Cash Reserve Amount exceeds the Required Cash Reserve Amount, the Trust shall instruct the Custodian to immediately release such excess to the Seller.

Cash Reserve Account. (a) On each Transfer Date, if and to the extent necessary, the Trust shall instruct the Custodian to withdraw from amounts deposited to the Cash Reserve Account in respect of a Cash Reserve Event (but not in respect of the Pre-Accumulation Reserve Period) and deposit to the Accumulations Account an amount equal to the related Cash Reserve Draw which shall be applied on account of that portion of the Cumulative Deficiency attributable to, (i) first, paragraph (c) of the definition thereof and, (ii) second, paragraph (b) of the definition thereof. (b) On the Targeted Principal Distribution Date, the Trust shall instruct the Custodian to withdraw all amounts deposited to the Cash Reserve Account in respect of the Pre-Accumulation Reserve Period which are necessary to ensure (to the extent possible) payment in full of all amounts then owing on the Series 20232024-1 Notes and to the Swap Counterparty and deposit such amounts to the Accumulations Account. (c) On the earlier of (i) the Reporting Day on which the Invested Amount of the Series 20232024-1 Ownership Interest has been reduced to zero, (ii) the Calculation Day on which a Cash Reserve Event ceases to exist, and (iii) the Series Termination Date, the Trust shall instruct the Custodian to release the balance, if any, remaining in the Cash Reserve Account (and deposited thereto in respect of a Cash Reserve Event) to the Seller in full satisfaction of any obligation to the Seller in respect of such amounts deposited therein. If at any time the Available Cash Reserve Amount exceeds the Required Cash Reserve Amount, the Trust shall instruct the Custodian to immediately release such excess to the Seller.

Cash Reserve Account. a(1) On each Transfer Date, if and to the extent necessary, the Trust shall instruct the Custodian to withdraw from amounts deposited to the Cash Reserve Account in respect of a Cash Reserve Event (but not in respect of the Pre-Accumulation Reserve Period) and deposit to the Accumulations Account an amount equal to the related Cash Reserve Draw which shall be applied on account of that portion of the Cumulative Deficiency attributable to, (i) first, paragraph (c) of the definition thereof and, (ii) second, paragraph (b) of the definition thereof. b(2) On the Targeted Principal Distribution Date, the Trust shall instruct the Custodian to withdraw all amounts deposited to the Cash Reserve Account in respect of the Pre-Pre- Accumulation Reserve Period which are necessary to ensure (to the extent possible) payment in full of all amounts then owing on the Series 20232022-1 Notes and deposit such amounts to the Accumulations Account. c(3) On the earlier of (i) the Reporting Day on which the Invested Amount of the Series 20232022-1 Ownership Interest has been reduced to zero, (ii) the Calculation Day on which a Cash Reserve Event ceases to exist, and (iii) the Series Termination Date, the Trust shall instruct the Custodian to release the balance, if any, remaining in the Cash Reserve Account (and deposited thereto in respect of a Cash Reserve Event) to the Seller in full satisfaction of any obligation to the Seller in respect of such amounts deposited therein. If at any time the Available Cash Reserve Amount exceeds the Required Cash Reserve Amount, the Trust shall instruct the Custodian to immediately release such excess to the Seller.

Cash Reserve Account. (a) On each Transfer DateThe Seller hereby directs the Borrower to, if and the Borrower shall, retain in or deposit into the Cash Reserve Account, all Subordinated Loans made by the Seller to the extent necessaryBorrower pursuant to Section 1.6(b) and (c) of the Master Receivables Purchase Agreement. (b) If the Available Funds for any Settlement Date (other than the amounts on deposit in the Cash Reserve Account) are or will be insufficient to provide for the payment in full of the amounts described in Section 6.4(b)(i) through (viii) hereof, the Trust Collateral Agent shall instruct make a withdrawal from the Custodian Cash Reserve Account in the amount of such deficiency and the proceeds from such withdrawal shall be deposited into the Collection Account and applied by the Servicer or the Collateral Agent to withdraw from Available Funds to make the distributions and payments required by Section 6.4(b)(i) through (viii), as applicable; provided, however that on the first Settlement Date on or after the occurrence of a Termination Event the Collateral Agent shall transfer all amounts then on deposit in the Cash Reserve Account to the Collection Account for application in accordance with Section 6.4(b) and thereafter no further amounts shall be deposited to the Cash Reserve Account in respect of a Cash Reserve Event (but not in respect of the Pre-Accumulation Reserve Period) and deposit to the Accumulations Account an amount equal to the related Cash Reserve Draw which shall be applied on account of that portion of the Cumulative Deficiency attributable to, (i) first, paragraph Account. (c) If on any Settlement Date prior to the occurrence of the definition thereof and, (ii) second, paragraph (b) of the definition thereof. b) On the Targeted Principal Distribution Datea Termination Event or a Potential Termination Event, the Trust shall instruct the Custodian to withdraw all amounts deposited to amount on deposit in the Cash Reserve Account in respect exceeds the Cash Reserve Account Required Amount for such Settlement Date (after giving effect to all deposits to and withdrawals from the Cash Reserve Account on such Settlement Date otherwise than pursuant to this Section 6.5(c)), the Collateral Agent shall distribute the amount of the Pre-Accumulation Reserve Period which are necessary to ensure (excess to the extent possible) Seller in payment in full of all amounts then owing on the Series 2023-1 Notes and deposit such amounts to the Accumulations Accountoutstanding Seller Loan Note Balance. c(d) On the earlier of (i) the Reporting Day If on which the Invested Amount of the Series 2023-1 Ownership Interest has been reduced to zero, (ii) the Calculation Day on which a Cash Reserve Event ceases to exist, and (iii) the Series Termination any Optional Repurchase Date, the Trust shall instruct the Custodian to release the balance, if any, remaining amount on deposit in the Cash Reserve Account (calculated as of the Optional Repurchase Date and deposited thereto in respect of a after giving effect to the Optional Repurchase and Section 6.4(b) above (if applicable on such date)) exceeds the Cash Reserve EventAccount Required Amount, the Servicer shall (x) if no Termination Event or a Potential Termination Event shall have occurred, release to the Seller in full satisfaction of any obligation as an adjustment to the Seller Purchase Price an amount equal to the excess of the amount on deposit in respect of such amounts deposited therein. If at any time the Available Cash Reserve Amount exceeds Account over the Required Cash Reserve AmountAccount Required Amount and (y) if a Termination Event or a Potential Termination Event shall have occurred, retain the Trust shall instruct amount on deposit in the Custodian Cash Reserve Account for application as part of Available Funds pursuant to immediately release such excess to Section 6.5 hereof on the Sellernext succeeding Settlement Date.