Common use of Certificateholder Collections; Additional Noteholder Collections Clause in Contracts

Certificateholder Collections; Additional Noteholder Collections. The Servicer will instruct the Indenture Trustee in writing to withdraw the following amounts from the Collection Account and apply such amounts as follows on each Deposit Date: (i) an amount equal to the Excess Certificateholder Percentage then in effect of Allocable Non-Principal Collections deposited in the Collection Account for such Deposit Date shall be paid to the Certificateholders; (ii) an amount equal to the Excess Certificateholder Percentage then in effect of Allocable Principal Collections deposited in the Collection Account for such Deposit Date shall be paid to the Certificateholders, provided, however, that if the Pool Balance (determined after giving effect to any Principal Receivables transferred to the Trust on such Deposit Date) is less than the Required Pool Balance for such Deposit Date (after giving effect to the allocations, distributions, withdrawals and deposits to be made on such Deposit Date), such funds will be deposited into the Excess Funding Account to the extent necessary so that the Pool Balance at least equals the Required Pool Balance; (iii) an amount equal to the Additional Noteholder Non-Principal Collections for such Deposit Date shall be retained in the Collection Account; provided, however, that during the Revolving Period, the Amortization Period and the Accumulation Period, the amount so retained shall not exceed the excess if any, of the Reserve Fund Required Amount over the amount in the Reserve Fund (after giving effect to the allocations, distributions, withdrawals and deposits to be made on the Payment Date immediately following such Deposit Date), and if on any day the amount so retained exceeds such excess, the amount retained which exceeds such excess may be withdrawn from the Collection Account and applied in accordance with Section 4.01(a)(v). (iv) an amount equal to the Additional Noteholder Principal Collections for the Amortization Period or an Early Amortization Period shall be retained in the Collection Account and, to the extent not otherwise required to be allocated, on the related Payment Date shall be treated as Noteholder Principal Collections; and (v) any remaining Additional Noteholder Collections for such Deposit Date not required to be retained in the Collection Account pursuant to Section 4.01(a)(iii) and (iv) or distributed pursuant to Section 4.06(b) shall be paid to the Certificateholders; provided, however, that if the Pool Balance (determined after giving effect to any Principal Receivables transferred to the Trust on such Deposit Date) is less than the Required Pool Balance (after giving effect to the allocations, distributions, withdrawals and deposits to be made on that Deposit Date), such funds shall be deposited into the Excess Funding Account to the extent necessary so that the Pool Balance at least equals the Required Pool Balance.

Certificateholder Collections; Additional Noteholder Collections. The Servicer will instruct the Indenture Trustee in writing to withdraw the following amounts from the Collection Account and apply such amounts as follows on each Deposit Date: (i) an amount equal to the Excess Certificateholder Percentage then in effect for the related Collection Period of Allocable Non-Principal Collections deposited in the Collection Account for such Deposit Date shall be paid to the Certificateholders; (ii) an amount equal to the Excess Certificateholder Percentage then in effect for the related Collection Period of Allocable Principal Collections deposited in the Collection Account for such Deposit Date shall be paid to the Certificateholders, provided, however, that if the Pool Balance (determined after giving effect to any Principal Receivables transferred to the Trust on such Deposit Date) is less than the Required Pool Balance for such Deposit Date (after giving effect to the allocations, distributions, withdrawals and deposits to be made on such Deposit Date), such funds will be deposited into the Excess Funding Account to the extent necessary so that the Pool Balance at least equals the Required Pool Balance; (iii) an amount equal to the Additional Noteholder Non-Principal Collections for such Deposit Date shall be retained in the Collection Account; provided, however, that during the Revolving Period, the Amortization Period and the Accumulation Period, the amount so retained shall not exceed the excess if any, of the Reserve Fund Required Amount over the amount in the Reserve Fund (after giving effect to the allocations, distributions, withdrawals and deposits to be made on the Payment Date immediately following such Deposit Date), and if on any day the amount so retained exceeds such excess, the amount retained which exceeds such excess may be withdrawn from the Collection Account and applied in accordance with Section 4.01(a)(v). (iv) an amount equal to the Additional Noteholder Principal Collections for the Amortization Period or an Early Amortization Period shall be retained in the Collection Account and, to the extent not otherwise required to be allocated, on the related Payment Date shall be and treated as Noteholder Principal Collections; and (v) any remaining Additional Noteholder Collections for such Deposit Date not required to be retained in the Collection Account pursuant to Section 4.01(a)(iii) and (iv) or distributed pursuant to Section 4.06(b) shall be paid to the Certificateholders; provided, however, that if the Pool Balance (determined after giving effect to any Principal Receivables transferred to the Trust on such Deposit Date) is less than the Required Pool Balance (after giving effect to the allocations, distributions, withdrawals and deposits to be made on that Deposit Date), such funds shall be deposited into the Excess Funding Account to the extent necessary so that the Pool Balance at least equals the Required Pool Balance.

Certificateholder Collections; Additional Noteholder Collections. The Servicer will instruct the Indenture Trustee in writing to withdraw the following amounts from the Collection Account and apply such amounts as follows on each Deposit Date: (i) an amount equal to the Excess Certificateholder Percentage then in effect of Allocable Non-Principal Collections deposited in the Collection Account for such Deposit Date shall be paid to the Certificateholders; (ii) an amount equal to the Excess Certificateholder Percentage then in effect of Allocable Principal Collections deposited in the Collection Account for such Deposit Date shall be paid to the Certificateholders, provided, however, that if the Pool Balance (determined after giving effect to any Principal Receivables transferred to the Trust on such Deposit Date) is less than the Required Pool Balance for such Deposit Date (after giving effect to the allocations, distributions, withdrawals and deposits to be made on such Deposit Date), such funds will be deposited into the Excess Funding Account to the extent necessary so that the Pool Balance at least equals the Required Pool Balance; (iii) an amount equal to the Additional Noteholder Non-Principal Collections for such Deposit Date shall be retained in the Collection Account; provided, however, that during the Revolving Period, the Amortization Period and the Accumulation Period, the amount so retained shall not exceed the excess if any, of the Reserve Fund Required Amount over the amount in the Reserve Fund (after giving effect to the allocations, distributions, withdrawals and deposits to be made on the Payment Date immediately following such Deposit Date), and if on any day the amount so retained exceeds such excess, the amount retained which exceeds such excess may be withdrawn from the Collection Account and applied in accordance with Section 4.01(a)(v). (iv) an amount equal to the Additional Noteholder Principal Collections for the Amortization Period or an Early Amortization Period shall be retained in the Collection Account and, to the extent not otherwise required to be allocated, on the related Payment Date shall be treated as Noteholder Principal Collections; and (v) any remaining Additional Noteholder Collections for such Deposit Date not required to be retained in the Collection Account pursuant to Section 4.01(a)(iii) and (iv) or distributed pursuant to Section 4.06(b) shall be paid to the Certificateholders; provided, however, that if the Pool Balance (determined after giving effect to any Principal Receivables transferred to the Trust on such Deposit Date) is less than the Required Pool Balance (after giving effect to the allocations, distributions, withdrawals and deposits to be made on that Deposit Date), such funds shall be deposited into the Excess Funding Account to the extent necessary so that the Pool Balance at least equals the Required Pool Balance.

Certificateholder Collections; Additional Noteholder Collections. The Servicer will instruct the Indenture Trustee in writing to withdraw the following amounts from the Collection Account and apply such amounts as follows on each Deposit Date: (i) an amount equal to the Excess Certificateholder Percentage then in effect of Allocable Non-Principal Collections deposited in the Collection Account for such Deposit Date shall be paid to the Certificateholders; (ii) an amount equal to the Excess Certificateholder Percentage then in effect of Allocable Principal Collections deposited in the Collection Account for such Deposit Date shall be paid to the Certificateholders, provided, however, that if the Pool Balance (determined after giving -------- ------- effect to any Principal Receivables transferred to the Trust on such Deposit Date) is less than the Required Pool Balance for such Deposit Date (after giving effect to the allocations, distributions, withdrawals and deposits to be made on such Deposit Date), such funds will be deposited into the Excess Funding Account to the extent necessary so that the Pool Balance at least equals the Required Pool Balance; (iii) an amount equal to the Additional Noteholder Non-Principal Collections for such Deposit Date shall be retained in the Collection Account; provided, however, that during the Revolving Period, the -------- ------- Amortization Period and the Accumulation Period, the amount so retained shall not exceed the excess if any, of the Reserve Fund Required Amount over the amount in the Reserve Fund (after giving effect to the allocations, distributions, withdrawals and deposits to be made on the Payment Date immediately following such Deposit Date), and if on any day the amount so retained exceeds such excess, the amount retained which exceeds such excess may be withdrawn from the Collection Account and applied in accordance with Section 4.01(a)(v). (iv) an amount equal to the Additional Noteholder Principal Collections for the Amortization Period or an Early Amortization Period shall be retained in the Collection Account and, to the extent not otherwise required to be allocated, on the related Payment Date shall be treated as Noteholder Principal Collections; and (v) any remaining Additional Noteholder Collections for such Deposit Date not required to be retained in the Collection Account pursuant to Section 4.01(a)(iii) and (iv) or distributed pursuant to Section 4.06(b) shall be paid to the Certificateholders; provided, however, that if the -------- ------- Pool Balance (determined after giving effect to any Principal Receivables transferred to the Trust on such Deposit Date) is less than the Required Pool Balance (after giving effect to the allocations, distributions, withdrawals and deposits to be made on that Deposit Date), such funds shall be deposited into the Excess Funding Account to the extent necessary so that the Pool Balance at least equals the Required Pool Balance.