Common use of Collections During the Liquidation Period Clause in Contracts

Collections During the Liquidation Period. (a) On each Payment Date during the Liquidation Period, the Borrower shall instruct the Collection Bank to withdraw and transfer funds on deposit in the Collection Account and the Interest Reserve Account in accordance with the Executed Withdrawal/Transfer Certificate delivered by the Borrower immediately prior to the applicable Payment Date in the following order of priority: (i) first, to the Administrative Agent, the Collateral Agent and any Replacement Administrator for each of their own account, an amount equal to the Fees, and any invoiced out-of-pocket expenses, indemnities and any other amounts (if any) due and payable to the Administrative Agent, Collateral Agent and/or Replacement Administrator under the Transaction Documents; (ii) second, to the Administrative Agent for distribution to the Lenders an amount equal to all fees payable to the Lenders under the Transaction Documents and any invoiced out-of-pocket expenses (if any) of the Lenders under Section 8.4, in each case, that are then due and payable; (iii) third, to the Administrative Agent for distribution to the Lenders an amount equal to any Interest, including any Shortfall Interest and Unused Facility Fees, in each case due and payable, plus any previously accrued Interest, including any Shortfall Interest, and Unused Facility Fees not paid on a prior Payment Date; (iv) fourth, to the Administrative Agent for distribution to the Lenders an amount sufficient to reduce to $0 the Aggregate Revolving Principal; (v) fifth, to the Administrative Agent for distribution to the Secured Parties an amount equal to other amounts (if any) then due and owing by the Borrower to the Secured Parties under the Transaction Documents; (vi) sixth, to the Borrower to pay accrued and unpaid administrative fees; (vii) seventh, to the Master Servicer to pay accrued and unpaid Servicing Fees that are then due and owing to the Master Servicer; (viii) eighth, to pay to the Originator any amounts remaining as payment of Deferred Purchase Price in accordance with the Transfer Agreement; and (ix) ninth, if the Borrower Obligations have been reduced to zero, to pay to the Borrower or such other payees as the Borrower may instruct, free and clear of the Security Interest of the Collateral Agent and the other Secured Parties, the remaining Available Collections. (b) In carrying out the foregoing payments under clause (a), amounts received shall be applied in the numerical order provided until exhausted prior to the application to the next succeeding category.

Collections During the Liquidation Period. (a) On each day during the Liquidation Period, unless the Dominion Date shall have occurred, all Collections shall be administered in accordance with Section 6.2. (b) On each Payment Date during the Liquidation Period, unless the Borrower Dominion Date shall instruct the Collection Bank to withdraw and have occurred, Master Servicer shall wire transfer funds on deposit in the Collection Account and the Interest Reserve Account in accordance with the Executed Withdrawal/Transfer Certificate delivered all Collections so held by the Borrower immediately prior Master Servicer (after deducting its Servicing Fee therefrom) to the applicable Payment Date Administrative Agent’s Account for distribution and application in the following order of priority: : first, (i) firstto Master Servicer, in payment of its Servicing Fee for the related Calculation Period to the extent not retained and (ii) to the Independent Director, in payment of any fees then due and owing; second, to the Administrative Agent, the Collateral Agent and any Replacement Administrator ’s Account for each of their own account, an amount equal to the Fees, and any invoiced out-of-pocket expenses, indemnities and any other amounts (if any) due and payable to the Administrative Agent, Collateral Agent and/or Replacement Administrator under the Transaction Documents; (ii) second, distribution to the Administrative Agent for distribution to and the Lenders an amount equal to all fees payable to the Lenders under the Transaction Documents and any invoiced Lenders, in payment of their respective out-of-pocket expenses (if any) in connection with the enforcement or protection of their rights under this Agreement and the Lenders other Transaction Documents, to the extent reimbursable under Section 8.4, in each case, that are then due 8.3 and payable; (iii) not otherwise paid by Xxxxxxxx; third, to the Administrative Agent Agent’s Account for distribution to the Lenders an amount equal to any Interest, including any Shortfall Interest and Unused Facility FeesLenders, in each case payment of any accrued and unpaid Interest then due and payableowing for the related Calculation Period, and any previously accrued Interest for a prior Calculation Period that remains unpaid; fourth, to the Administrative Agent’s Account for distribution to the Lenders, in payment of any Fees accrued during the Calculation Period (or portion thereof) then most recently ended, plus any previously accrued Interest, including any Shortfall Interest, and Unused Facility Fees not paid on a prior Monthly Payment Date; (iv) fourth, to the Administrative Agent for distribution to the Lenders an amount sufficient to reduce to $0 the Aggregate Revolving Principal; (v) ; fifth, to the Administrative Agent Agent’s Account for distribution to the Secured Parties an amount equal Lenders, in reduction of Aggregate Principal until Aggregate Principal is reduced to other amounts (if any) then due $0; and owing by the Borrower to the Secured Parties under the Transaction Documents; (vi) sixth, to the Borrower to pay accrued and unpaid administrative fees; (vii) seventh, to the Master Servicer to pay accrued and unpaid Servicing Fees that are then due and owing to the Master Servicer; (viii) eighth, to pay to the Originator any amounts remaining as payment of Deferred Purchase Price in accordance with the Transfer Agreement; and (ix) ninth, if the Borrower Obligations Aggregate Unpaids have been reduced to zero, to pay to the Borrower or such other payees as the Borrower may instructBorrower, free and clear of the Security Interest of the Collateral Administrative Agent and for the other Secured Partiesbenefit of the Lenders. Promptly after its receipt of funds for the benefit of any Lender pursuant to this Section 2.2, the remaining Available Collections. (b) In carrying out the foregoing payments under clause (a), amounts received Administrative Agent shall be applied promptly forward to each such Lender in the numerical order provided until exhausted prior to the application to the next succeeding categorytype of funds received such Xxxxxx’s ratable share thereof.

Collections During the Liquidation Period. (a) On each day during the Liquidation Period, all Collections shall be administered in accordance with Section 6.2. (b) On each Payment Date during the Liquidation Period, the Borrower Master Servicer shall instruct wire transfer all Collections so held by the Collection Bank Master Servicer (after deducting its Servicing Fee therefrom) to withdraw and transfer funds on deposit in the Collection Administrative Agent’s Account and the Interest Reserve Account in accordance with the Executed Withdrawal/Transfer Certificate delivered all Collections received by the Borrower immediately prior to the applicable Payment Date Administrative Agent shall be distributed and applied in the following order of priority: (i) : first, to the Administrative Agent, the Collateral Agent and any Replacement Administrator for each of their own account, an amount equal to the Fees, and any invoiced out-of-pocket expenses, indemnities and any other amounts (if any) due and payable to the Administrative Agent, Collateral Agent and/or Replacement Administrator under the Transaction Documents; (ii) second, to the Administrative Agent for distribution to the Lenders an amount equal to all fees payable to the Lenders under the Transaction Documents and any invoiced out-of-pocket expenses (if any) of the Lenders under Section 8.4Master Servicer, in each case, that are then due and payable; (iii) third, to the Administrative Agent for distribution to the Lenders an amount equal to any Interest, including any Shortfall Interest and Unused Facility Fees, in each case due and payable, plus any previously accrued Interest, including any Shortfall Interest, and Unused Facility Fees not paid on a prior Payment Date; (iv) fourth, to the Administrative Agent for distribution to the Lenders an amount sufficient to reduce to $0 the Aggregate Revolving Principal; (v) fifth, to the Administrative Agent for distribution to the Secured Parties an amount equal to other amounts (if any) then due and owing by the Borrower to the Secured Parties under the Transaction Documents; (vi) sixth, to the Borrower to pay accrued and unpaid administrative fees; (vii) seventh, to the Master Servicer to pay payment of accrued and unpaid Servicing Fees that are then due and owing to the Master Servicer; (viii) eighthServicer to the extent not retained; second, to pay the Administrative Agent, in payment of its out-of-pocket expenses in connection with the enforcement or protection of its and the Lenders’ rights under this Agreement and the other Transaction Documents, to the Originator any amounts remaining as extent reimbursable under Section 8.4 and not otherwise paid by Borrower; third, to the Administrative Agent, for distribution to the Lenders in accordance with their respective Percentages, in payment of Deferred Purchase Price any accrued and unpaid Interest then due and owing, including any previously accrued Interest that was not previously paid; fourth, to the Administrative Agent, for distribution to the Lenders, in payment of any Fees accrued during the Calculation Period (or portion thereof) then most recently ended, plus any previously accrued Fees not paid on a prior Payment Date; fifth, to the Administrative Agent, for distribution to the Lenders in accordance with their respective Percentages, in reduction of the Principal of their Loans, until Aggregate Principal is reduced to $0; sixth, to the Administrative Agent, for distribution to the Secured Parties in accordance with the Transfer Agreementamount then due and owing to such Person, in payment of all amounts then due and owing to the Secured Parties by the Borrower under the Transaction Documents; and (ix) ninthand seventh, if the Borrower Obligations Aggregate Unpaids have been reduced to zero, to pay to the Borrower or such other payees as the Borrower may instructBorrower, free and clear of the Security Interest of the Collateral Administrative Agent and the other Secured Parties, the remaining Available CollectionsLenders. (b) In carrying out the foregoing payments under clause (a), amounts received shall be applied in the numerical order provided until exhausted prior to the application to the next succeeding category.

Collections During the Liquidation Period. (a) On each day during the Liquidation Period, unless the Dominion Date shall have occurred, all Collections shall be administered in accordance with Section 6.2. (b) On each Payment Date during the Liquidation Period, unless the Borrower Dominion Date shall instruct the Collection Bank to withdraw and have occurred, Master Servicer shall wire transfer funds on deposit in the Collection Account and the Interest Reserve Account in accordance with the Executed Withdrawal/Transfer Certificate delivered all Collections so held by the Borrower immediately prior Master Servicer (after deducting its Servicing Fee therefrom) to the applicable Payment Date Administrative Agent’s Account for distribution and application in the following order of priority: : first, (i) firstto Master Servicer, in payment of its Servicing Fee for the related Calculation Period to the extent not retained and (ii) to the Independent Director, in payment of any fees then due and owing; second, to the Administrative Agent, the Collateral Agent and any Replacement Administrator ’s Account for each of their own account, an amount equal to the Fees, and any invoiced out-of-pocket expenses, indemnities and any other amounts (if any) due and payable to the Administrative Agent, Collateral Agent and/or Replacement Administrator under the Transaction Documents; (ii) second, distribution to the Administrative Agent for distribution to and the Lenders an amount equal to all fees payable to the Lenders under the Transaction Documents and any invoiced Lenders, in payment of their respective out-of-pocket expenses (if any) in connection with the enforcement or protection of their rights under this Agreement and the Lenders other Transaction Documents, to the extent reimbursable under Section 8.4, in each case, that are then due 8.3 and payable; (iii) not otherwise paid by Borrower; third, to the Administrative Agent Agent’s Account for distribution to the Lenders an amount equal to any Interest, including any Shortfall Interest and Unused Facility FeesLenders, in each case payment of any accrued and unpaid Interest then due and payableowing for the related Calculation Period, and any previously accrued Interest for a prior Calculation Period that remains unpaid; fourth, to the Administrative Agent’s Account for distribution to the Lenders, in payment of any Fees accrued during the Calculation Period (or portion thereof) then most recently ended, plus any previously accrued Interest, including any Shortfall Interest, and Unused Facility Fees not paid on a prior Monthly Payment Date; (iv) fourth, to the Administrative Agent for distribution to the Lenders an amount sufficient to reduce to $0 the Aggregate Revolving Principal; (v) ; fifth, to the Administrative Agent Agent’s Account for distribution to the Secured Parties an amount equal Lenders, in reduction of Aggregate Principal until Aggregate Principal is reduced to other amounts (if any) then due $0; and owing by the Borrower to the Secured Parties under the Transaction Documents; (vi) sixth, to the Borrower to pay accrued and unpaid administrative fees; (vii) seventh, to the Master Servicer to pay accrued and unpaid Servicing Fees that are then due and owing to the Master Servicer; (viii) eighth, to pay to the Originator any amounts remaining as payment of Deferred Purchase Price in accordance with the Transfer Agreement; and (ix) ninth, if the Borrower Obligations Aggregate Unpaids have been reduced to zero, to pay to the Borrower or such other payees as the Borrower may instructBorrower, free and clear of the Security Interest of the Collateral Administrative Agent and for the other Secured Partiesbenefit of the Lenders. Promptly after its receipt of funds for the benefit of any Lender pursuant to this Section 2.2, the remaining Available Collections. (b) In carrying out the foregoing payments under clause (a), amounts received Administrative Agent shall be applied promptly forward to each such Lender in the numerical order provided until exhausted prior to the application to the next succeeding categorytype of funds received such Lender’s ratable share thereof.