Common use of CTO Reserve Account Clause in Contracts

CTO Reserve Account. Following the occurrence of a CTO Trigger Event, on each Business Day, the Trustee, acting in accordance with instructions from the Servicer, shall deposit in the CTO Reserve Account, to the extent of any Available Series 1998-2 Finance Charge Collections remaining after giving effect to the applications pursuant to subsections 4.9(a)(i) through (xv) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 1998-2 Finance Charge Collections and (y) an amount equal to the excess, if any, of the Specified CTO Reserve Amount on such date over the amount then on deposit in the CTO Reserve Account.

CTO Reserve Account. Following the occurrence of a CTO Trigger Event, on each Business Day, the Trustee, acting in accordance with instructions from the Servicer, shall deposit in the CTO Reserve Account, to the extent of any Available Series 1998-2 1 Finance Charge Collections remaining after giving effect to the applications pursuant to subsections 4.9(a)(i) through (xv) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 1998-2 1 Finance Charge Collections and (y) an amount equal to the excess, if any, of the Specified CTO Reserve Amount on such date over the amount then on deposit in the CTO Reserve Account.