Common use of Certain Allocations of Collections Clause in Contracts

Certain Allocations of Collections. If the Seller is unable for any reason to sell Receivables to the Buyer under this Agreement, then the Seller agrees that, after the occurrence of such event and subject to Applicable Law and any related Floorplan Financing Agreement, it (or the Servicer on its behalf) will allocate Collections in respect of each Account between the Receivables that were sold to the Buyer hereunder and those that were not so sold to the Buyer as follows: (i) Principal Collections will be allocated to the Receivable that relates to the Vehicle whose sale or lease generated such Collections; and (ii) Interest Collections will be allocated to the Buyer on the basis of the ratio of the principal amount of the Receivables in such Account owned by the Buyer on the date of determination to the total principal amount of Receivables in such Account on such date.

Certain Allocations of Collections. If the Seller is unable for any reason to sell Receivables to the Buyer under this Agreement, then the Seller agrees that, after the occurrence of such event and subject to Applicable Law and any related Floorplan Financing Agreementevent, it (or the Servicer on its behalf) will allocate Collections in respect of each related Account between the Receivables that were sold to the Buyer hereunder and those that were not so sold to the Buyer as follows: (iA) Principal Collections will be allocated to the Receivable that relates to the Vehicle whose sale or lease generated such Collections; and (iiB) Interest Collections will be allocated to the Buyer on the basis of the ratio of the principal amount of the Principal Receivables in such Account owned by the Buyer in connection with such Account on the date of determination to the total principal amount of Principal Receivables in connection with such Account on such datedate of determination, and the remainder of such Collections will be allocated to the Seller.