Common use of Collections during the Revolving Period Clause in Contracts

Collections during the Revolving Period. During the Revolving Period, any Collections and/or Deemed Collections received by the Servicer (or from and after the occurrence of the Dominion Date, by the Administrative Agent) shall be held in trust for the payment of any accrued and unpaid Aggregate Unpaids or for a Rollover Advance as provided in this Section (provided that Aggregate Principal shall not be payable during the Revolving Period except to the extent provided in Section 1.3 and Section 1.5 and Collections and/or Deemed Collections shall not be required to be segregated prior to the Dominion Date but instead shall be permitted to be used by the Servicer and its Affiliates in accordance with Section 6.2(c)). On each day during the Revolving Period that is not a Settlement Date, subject to Section 1.4, the last sentence of this Section and Section 4.2, Collections that are not required to be segregated pursuant to Section 6.2(c) shall first be applied to making an Advance such that after giving effect thereto, the outstanding Aggregate Principal is equal to the Aggregate Principal outstanding immediately prior to receipt of such Collections (each such Advance, a “Rollover Advance”). Each Rollover Advance will be presumed to consist of Loans made ratably amongst all Lenders in accordance with their respective Principal outstanding. On each Settlement Date, the Servicer shall deliver to the Administrative Agent that portion of all Collections received (or deemed received) during the related Calculation Period equal to the amounts due and owing pursuant to clauses (i)-(vii) of Section 2.3 for application in accordance therewith (the “Required Amounts”). If on any Settlement Date during the Revolving Period there are insufficient Collections to pay all Required Amounts that are then due and owing under Section 2.3, the next available Collections shall be applied to such payments in accordance with Section 2.3, and no Rollover Advance shall be permitted hereunder until such amounts payable have been paid in full.

Collections during the Revolving Period. During the Revolving Period, any Collections and/or Deemed Collections received by the Servicer (or from and after the occurrence of the Dominion Date, by the Administrative Agent) shall be held in trust for the payment of any accrued and unpaid Aggregate Unpaids or for a Rollover Advance Reinvestment as provided in this Section 2.1 (provided that Aggregate Principal Capital shall not be payable during the Revolving Period except to the extent provided in Section 1.3 and Section 1.5 1.5, and Collections and/or Deemed Collections shall not be required to be segregated prior to the Dominion Date but instead shall be permitted to be used by the Servicer and its Affiliates in accordance with Section 6.2(c)). On each day during the Revolving Period that is not a Settlement Date, subject to Section 1.4, the last sentence of this Section 2.1 and Section 4.2, Collections that are not required to be segregated pursuant to Section 6.2(c) shall first be applied to making an Advance additional Purchases of undivided interests in the Receivables and the associated Related Security, such that after giving effect thereto, the outstanding Aggregate Principal Capital is equal to the Aggregate Principal Capital outstanding immediately prior to receipt of such Collections and the Receivable Interest does not exceed 100% (each such AdvancePurchase, a “Rollover AdvanceReinvestment”). Each Rollover Advance Reinvestment will be presumed to consist of Loans be made ratably amongst all Lenders Purchasers in accordance with their respective Principal outstandingPercentages. On each Settlement Date, the Servicer shall deliver to the Administrative Agent that portion for prompt distribution to each of the Purchasers in accordance with Percentages, all Collections received (or deemed received) during the related Calculation Period (after deducting therefrom its Servicing Fee) equal to the amounts due and owing pursuant to clauses (i)-(vii) first through fourth of Section 2.3 for application in accordance therewith (the “Required Amounts”). If on any Settlement Date during the Revolving Period there are insufficient Collections to pay all Required Amounts that are then due and owing under Section 2.3, the next available Collections shall be applied to such payments in accordance with Section 2.3, and no Rollover Advance Reinvestment shall be permitted hereunder until such amounts payable have been paid in full.

Collections during the Revolving Period. During (a) On each Business Day during the Revolving Period, any all Collections and/or and Deemed Collections received by the Master Servicer (or from and after the occurrence of the Dominion Date, by the Administrative Agent) shall be administered in accordance with Section 6.2 and shall be (i) held in trust for the payment of any the accrued and unpaid Aggregate Unpaids Unpaids, if any, that are then due and owing (including, without limitation, Aggregate Principal payable pursuant to Section 1.3(a) or for a Rollover Advance 2.1(b)), or (ii) released to the Borrower as provided in this Section 2.1(c). (provided that b) Aggregate Principal shall not be payable required to be paid during the Revolving Period except to the extent provided in Section 1.3 and Section 1.5 and Collections and/or Deemed Collections shall not be required to be segregated prior to the Dominion Date but instead shall be permitted to be used by the Servicer and its Affiliates in accordance with Section 6.2(c))that (i) an Overadvance exists or (ii) a Reduction Notice is delivered. (c) On each day Business Day during the Revolving Period that is not a Settlement DatePeriod, subject to Section 1.4, the last sentence of this Section 2.1(e) and Section 4.24.3, Collections that are not required to be segregated or used to pay Aggregate Unpaids (including, without limitation, Aggregate Principal payable pursuant to Section 6.2(c1.3(a) shall first or 2.1(b)) may be applied to making an Advance such that after giving effect thereto, the outstanding Aggregate Principal is equal released to the Aggregate Principal outstanding immediately prior Borrower to receipt of pay the purchase price for Receivables purchased by the Borrower on such Collections date in accordance with the Sale Agreement (each such Advancerelease, a “Rollover AdvanceRelease”). Each Rollover Advance will be presumed to consist of Loans made ratably amongst all Lenders in accordance with their respective Principal outstanding. (d) On each Settlement DatePayment Date during the Revolving Period, after deduction of the Servicer shall deliver to the Administrative Agent that portion of all Master Servicer’s Servicing Fee from Collections received (or deemed received) during the related Calculation Period (or portion thereof) then most recently ended, the Master Servicer shall deliver to the Administrative Agent from the Collections received (or deemed received) during such Calculation Period (or portion thereof), an amount equal to the amounts all other Required Amounts due and owing pursuant to clauses (i)-(vii) of Section 2.3 for application in accordance therewith (the “Required Amounts”). If on any Settlement Date during the Revolving Period there are insufficient Collections to pay all Required Amounts that are then due and owing under Section 2.3, the next available Collections shall be applied to such payments in accordance with Section 2.3Payment Date, and no Rollover Advance shall be permitted hereunder until such amounts payable have been paid in full.the

Collections during the Revolving Period. During the Revolving Period, any Collections and/or Deemed Collections received by the Servicer (or from and after the occurrence of the Dominion Date, by the Administrative Agent) shall be held in trust for the payment of any accrued and unpaid Aggregate Unpaids or for a Rollover Advance Reinvestment as provided in this Section 2.1 (provided that Aggregate Principal Capital shall not be payable during the Revolving Period except to the extent provided in Section 1.3 and Section 1.5 1.5, and Collections and/or Deemed Collections shall not be required to be segregated prior to the Dominion Date but instead shall be permitted to be used by the Servicer and its Affiliates in accordance with Section 6.2(c6.2(d)). On each day during the Revolving Period that is not a Settlement Date, subject to Section 1.4, the last sentence of this Section 2.1 and to Section 4.24.3, Collections that are not required to be segregated pursuant to Section 6.2(c6.2(b) shall first be applied to making an Advance additional Purchases of undivided interests in the Receivables and the associated Related Security, such that after giving effect thereto, the outstanding Aggregate Principal Capital is equal to the Aggregate Principal Capital outstanding immediately prior to receipt of such Collections and the Receivable Interest does not exceed 100% (each such AdvancePurchase, a “Rollover AdvanceReinvestment”). Each Rollover Advance Reinvestment will be presumed to consist of Loans made ratably amongst all Lenders the Purchasers in accordance with their respective Principal outstandingPercentages. On each Settlement Date, the Servicer shall deliver to each of the Administrative Agent that portion Purchasers from its Percentage of all Collections received (or deemed received) during the related Calculation Period (after deducting therefrom its Servicing Fee), an amount equal to the aggregate of the amounts due and owing to such Purchaser on such Settlement Date pursuant to clauses (i)-(vii) first through fourth of Section 2.3 for application in accordance therewith (the aggregate of all such amounts for all Purchasers, the “Required Amounts”). If on any Settlement Date during the Revolving Period there are insufficient Collections to pay all Required Amounts that are then due and owing under Section 2.3, the next available Collections shall be applied to such payments in accordance with Section 2.3, and no Rollover Advance Reinvestment shall be permitted made hereunder until such amounts payable have been paid in full.