Common use of Collections Prior to Amortization Clause in Contracts

Collections Prior to Amortization. On each Settlement Date prior to the Amortization Date, the Servicer shall deposit to the Administrative Agent's Account, for distribution to the Lenders, a portion of the Collections received by the Servicer during the preceding Settlement Period (after deduction of its Servicing Fee) equal to the sum of the following amounts for application to the Obligations in the order specified: FIRST, ratably to the payment of all accrued and unpaid CP Costs, Interest and Broken Funding Costs (if any) that are then due and owing, SECOND, ratably to the payment of all accrued and unpaid fees under the Fee Letter (if any) that are then due and owing, THIRD, if required under Section 1.3 or 1.4, to the ratable reduction of Aggregate Principal, FOURTH, for the ratable payment of all other unpaid Obligations, if any, that are then due and owing, and FIFTH, the balance, if any, to Borrower or otherwise in accordance with Borrower's instructions. Collections applied to the payment of Obligations shall be distributed in accordance with the aforementioned provisions, and, giving effect to each of the priorities set forth above in this Section 2.2, shall be shared ratably (within each priority) among the Administrative Agent and the Lenders in accordance with the amount of such Obligations owing to each of them in respect of each such priority.

Collections Prior to Amortization. On each Settlement Date prior to the Amortization Date, the Servicer shall deposit to the Administrative Agent's each applicable Payment Account, for distribution to the applicable Lenders, a portion of the Collections received by the Servicer it during the preceding Settlement Period (after deduction of its Servicing Fee) equal to the sum of the following amounts for application to the Obligations in the order specified: FIRSTfirst, ratably to the payment of all accrued and unpaid CP Costs, Interest and Broken Funding Costs (if any) that are then due and owing, SECONDsecond, ratably to the payment of all accrued and unpaid fees under the Fee Letter (if any) that are then due and owingowing to any Lender or its Co-Agent, THIRDthird, if required under Section 1.3 or 1.4, to the ratable reduction of Aggregate Principalthe outstanding principal of each of the Loans, FOURTHand fourth, for the ratable payment of all other unpaid ObligationsObligations of Borrower, if any, that are then due and owing, and FIFTH, the . The balance, if any, shall be paid to Borrower or otherwise in accordance with Borrower's ’s instructions. Collections applied to the payment of Obligations of Borrower shall be distributed in accordance with the aforementioned provisions, and, giving effect to each of the priorities set forth above in this Section 2.2, shall be shared ratably (within each priority) among the Administrative Agent and the Lenders applicable payees in accordance with the amount of such Obligations owing to each of them in respect of each such priority.

Collections Prior to Amortization. On each Settlement Date prior to the Amortization Date, the Servicer shall deposit to the Administrative Agent's applicable Co-Agent Account, for distribution to the Lendersapplicable Lenders and, during the Term Period, the Term-Out Liquidity Banks in each Conduit Group, a portion of the Collections received by the Servicer it during the preceding Settlement Period (after deduction of its Servicing Fee) equal to the sum of the following amounts for application to the Obligations in the order specified: FIRSTfirst, ratably to the payment of all accrued and unpaid CP Costs, Interest, Excess Interest (if applicable) and Broken Funding Costs (if any) that are then due and owing, SECONDsecond, ratably to the payment of all accrued and unpaid fees under the Fee Letter (if any) that are then due and owingowing to the applicable Conduit or its Co-Agent, THIRDthird, if required under Section 1.3 or 1.4, to the ratable reduction of the applicable Conduit’s Percentage of the Aggregate Principal, FOURTHand fourth, for the ratable payment of all other unpaid ObligationsObligations of Borrowers, if any, that are then due and owing, and FIFTH, the . The balance, if any, shall be paid to Borrower the Collection Agent, on behalf of Borrowers, or otherwise in accordance with Borrower's the Collection Agent’s instructions. Collections applied to the payment of Obligations of Borrowers shall be distributed in accordance with the aforementioned provisions, and, giving effect to each of the priorities set forth above in this Section 2.2, shall be shared ratably (within each priority) among the Administrative applicable Co-Agent and the Lenders in its Conduit Group in accordance with the amount of such Obligations owing to each of them in respect of each such priority.

Collections Prior to Amortization. On each Settlement Date prior to the Amortization Date, the Servicer shall deposit to the Administrative Agent's applicable Co-Agent Account, for distribution to the applicable Lenders, a portion of the Collections received by the Servicer it during the preceding Settlement Period (after deduction of its Servicing Fee) equal to the sum of the following amounts for application to the Obligations in the order specified: FIRSTfirst, ratably to the payment of all accrued and unpaid CP Costs, Interest and Broken Funding Costs (if any) that are then due and owing, SECONDsecond, ratably to the payment of all accrued and unpaid fees under the Fee Letter (if any) that are then due and owingowing to the applicable Conduit or its Co-Agent, THIRDthird, if required under Section 1.3 or 1.4, to the ratable reduction of the applicable Conduit’s Percentage of the Aggregate Principal, FOURTHand fourth, for the ratable payment of all other unpaid ObligationsObligations of Borrower, if any, that are then due and owing, and FIFTH, the . The balance, if any, shall be paid to Borrower or otherwise in accordance with Borrower's ’s instructions. Collections applied to the payment of Obligations of Borrower shall be distributed in accordance with the aforementioned provisions, and, giving effect to each of the priorities set forth above in this Section 2.2, shall be shared ratably (within each priority) among the Administrative applicable Co-Agent and the Lenders in its Conduit Group in accordance with the amount of such Obligations owing to each of them in respect of each such priority.

Collections Prior to Amortization. On each Settlement Date prior to the Amortization Date, the Servicer shall deposit to the Administrative Agent's applicable Co-Agent Account, for distribution to the applicable Lenders, a portion of the Collections received by the Servicer it during the preceding Settlement Period (after deduction of its Servicing Fee) equal to the sum of the following amounts for application to the Obligations in the order specified: FIRST, ratably to the payment of all accrued and unpaid CP Costs, Interest and Broken Funding Costs (if any) that are then due and owing, SECOND, ratably to the payment of all accrued and unpaid fees under the Fee Letter (if any) that are then due and owingowing to the applicable Conduit or its Co-Agent, THIRD, if required under Section 1.3 or 1.4, to the ratable reduction of the applicable Conduit's Percentage of the Aggregate Principal, and FOURTH, for the ratable payment of all other unpaid ObligationsObligations of Borrower, if any, that are then due and owing, and FIFTH, the . The balance, if any, shall be paid to Borrower or otherwise in accordance with Borrower's instructions. Collections applied to the payment of Obligations of Borrower shall be distributed in accordance with the aforementioned provisions, and, giving effect to each of the priorities set forth above in this Section 2.2, shall be shared ratably (within each priority) among the Administrative applicable Co-Agent and the Lenders in its Conduit Group in accordance with the amount of such Obligations owing to each of them in respect of each such priority.