Coverage of Required Amount. (a) On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date, exceeds the Class A Available Funds for the related Monthly Period.
(b) On or before each Transfer Date, the Servicer shall also determine the amount (the "Class B Required Amount"), if any, equal to the sum of (i) the amount, if any, by which the sum of (A) the Class B Monthly Interest for such Transfer Date, plus (B) the Class B Deficiency Amount, if any, for such Transfer Date, plus (C) the Class B Additional Interest, if any, for such Transfer Date, plus (D) the Class B Servicing Fee for the prior Monthly Period, plus (E) the Class B Servicing Fee, if any, due but not paid on any prior Transfer Date, exceeds the Class B Available Funds for the related Monthly Period, plus (ii) the Class B Investor Default Amount, if any, for the prior Monthly Period. (c) In the event that the sum of the Class A Required Amount and the Class B Required Amount for such Transfer Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount or Class B Required Amount on or before such Transfer Date. In the event that the Class A Required Amount for such Transfer Date is greater than zero, all or a portion of the Excess Spread with respect to such Transfer Date in an amount equal to the Class A Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date pursuant to subsection 4.11(a). In the event that the Class A Required Amount for such Transfer Date exceeds the amount of Excess Spread with respect to such Transfer Date, the Collections of Principal Receivables allocable to the Collateral Interest and the Collections of Principal Receivables allocable to the Class B Certificates with respect to the prior Monthly ...
Coverage of Required Amount. On or before each Transfer Date, the Servicer will determine the amount (the "Required Amount") by which (A) the sum of (i) the Class A Note Interest Requirement, (ii) the Class B Note Interest Requirement and (iii) the Net Class C Note Interest Requirement plus (B) the Net Investor Servicing Fee for the prior Monthly Period plus (C) the Net Investor Servicing Fee, if any, due but not paid on any prior Transfer Date plus, (D) the Investor Default Amount for the prior Monthly Period, if any, exceeds the amount of Available Investor Finance Charge Collections for such Monthly Period. In the event the Required Amount is greater than zero, the Servicer shall give written notice to the Trustee of such positive Required Amount for such Transfer Date and all or a portion of the Shared Excess Finance Charge Collections allocable to Series 2002-7 with respect to such Transfer Date in an amount equal to the Required Amount, to the extent available, for such Transfer Date shall be distributed from the Finance Charge Account on such Transfer Date in accordance with the priority of payments set forth in subsection 4.9(a).
Coverage of Required Amount. 30 SECTION 4.11
Coverage of Required Amount for the Class A ------------------------------------------- Certificates.
(a) On each Determination Date, the Servicer shall determine the ------------ amount (the "Class A Required Amount"), if any, by which the sum of (i) Class A Monthly Interest for the related Distribution Date payable with respect to the Class A Invested Amount, (ii) any Class A Monthly Interest previously due but not paid to the Class A Certificateholders, (iii) any Class A Additional Interest, (iv) the Class A Investor Default Amount, if any, for such Distribution Date and (v) to the extent payable to a Successor Servicer that is not an Affiliate of the Seller, the Monthly Servicing Fee (the sum of (i) through (v), the "Class A Covered Amount") exceeds the sum of (x) Class A Available Funds for such Distribution Date which are available to pay (i) through (v) (after taking into consideration the pro rata portion of the Monthly Servicing Fee payable in accordance with the first proviso to subsection 4.07(a) of the Agreement), (y) Excess Spread available pursuant to Section 4.09 of the Agreement and (z) Excess Finance Charge Collections allocable to the Series 1998-V Certificates pursuant to subsection 4.04(c) of the Agreement (up to the Shortfall Amount). In the event that the Class A Required Amount is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount, specifying therein the amount to be withdrawn pursuant to this subsection 4.06(a), on or after the Determination Date but in no event later than three Business Days prior to such Distribution Date. On the Transfer Date, the Trustee (or the Servicer on the Trustee's behalf) shall withdraw the Withdrawal Amount from the Cash Collateral Account and immediately deposit such amount into the Collection Account. In the event that the Class A Required Amount exceeds the Available Cash Collateral Amount with respect to such Distribution Date, Reallocated Principal Collections with respect to such Distribution Date in an amount equal to such excess shall be distributed from the Collection Account on such Distribution Date pursuant to Section 4.10.
(b) If the Servicer fails to make any payment or deposit (other than as required by Sections 2.07, 7.04, 8.04, 9.02 (upon receipt of sale proceeds thereunder) and 10.01 of the Agreement) required to be made by the Servicer at the time specified in the Agreement (including applicable grace periods), the Trustee, without instruction from th...
Coverage of Required Amount. 31 SECTION 4.9 Monthly Payments................................32 SECTION 4.10 Investor Charge-Offs...........................37 SECTION 4.11 Excess Spread; Shared Excess Finance Charge Collections...................................39 SECTION 4.12 Reallocated Principal Collections..............41 SECTION 4.13 Shared Principal Collections...................42 SECTION 4.14 Shared Excess Finance Charge Collections.......42 SECTION 4.15 Principal Funding Account......................43 SECTION 4.16
Coverage of Required Amount. 31 SECTION 4.9 Monthly Payments . . . . . . . . . . . . . . . . . . 32 SECTION 4.10 Investor Charge-Offs . . . . . . . . . . . . . . . . 37 SECTION 4.11 Excess Spread; Shared Excess Finance Charge Collections . . . . . . . . . . . . . . . . . . . 39 SECTION 4.12 Reallocated Principal Collections . . . . . . . . . 41 SECTION 4.13 Shared Principal Collections . . . . . . . . . . . . 42 SECTION 4.14 Shared Excess Finance Charge Collections . . . . . . 42 SECTION 4.15 Principal Funding Account . . . . . . . . . . . . . 43 SECTION 4.16
Coverage of Required Amount. 26 SECTION 4.9 Monthly Payments . . . . . . . . . . . . . . . . . . . . 26 SECTION 4.10 Investor Charge-Offs . . . . . . . . . . . . . . . . . 30 SECTION 4.11
Coverage of Required Amount. 65 5.10 Payments Of Amounts Representing Finance Charge Collections..............67 5.11 Payments Of Amounts Representing Available Investor Principal Collections...................................................................70 5.12 Payment Of Investor Finance Amounts......................................74 5.13 Investor Charge-Offs.....................................................75 5.14 Investor Indemnity Amount................................................77
Coverage of Required Amount. On or before each Distribution Date, the Receivables Trustee (acting on the advice of the Servicer) shall determine the amount (the ‘‘Class A Required Amount’’), if any, by which the sum of:
Coverage of Required Amount. On or before each Transfer Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which the sum of (i) the Class A Monthly Interest for such Transfer Date, plus (ii) the Class A Deficiency Amount, if any, for such Transfer Date, plus (iii) the Class A Additional Interest, if any, for such Transfer Date, plus (iv) the Class A Servicing Fee for the prior Monthly Period, plus (v) the Class A Servicing Fee, if any, due but not paid on any prior Transfer Date, plus (vi) the Class A Investor Default Amount, if any, for the prior Monthly Period, plus (vii) the Net Swap Payment, if any, for such Transfer Date, plus (viii) the Net Swap Payments, if any, due but not paid on any prior Transfer Date exceeds the Class A Available Funds for the related Monthly Period.
