Daily Allocations Sample Clauses
The Daily Allocations clause sets out how specific resources, services, or quantities are assigned or distributed on a daily basis under the agreement. It typically details the amount or type of allocation each day, such as the number of work hours, units of goods, or service capacity provided, and may include procedures for adjusting these allocations if needed. This clause ensures both parties have a clear, shared understanding of daily expectations, helping to prevent disputes and manage resources efficiently throughout the contract term.
Daily Allocations. (a) The portion of the Aggregate Daily Collections allocated to Series 2000-1 pursuant to Article III of the Agreement shall be allocated as ----------- set forth in this Article III by the Trustee based solely on the information ----------- provided it by the Master Servicer in the Daily Report (upon which the Trustee may conclusively rely, subject to its obligation to perform the procedures set forth in the internal operating procedures memorandum):
(i) during the Series 2000-1 Amortization Period, if any amounts are owed to any Person on account of Servicing Fees incurred in respect of the performance of its responsibilities as Successor Master Servicer, an amount equal to the product of (a) the amount so owed to such Successor Master Servicer and (b) a fraction, the numerator of which shall be equal to the Series 2000-1 Invested Amount as of the end of the immediately preceding Accrual Period and the denominator of which shall be equal to the Aggregate Invested Amount as of the end of the immediately preceding Accrual Period shall be transferred from
(1) firstly, from the Series 2000-1 U.S. Dollar Concentration Subaccount to the Series 2000-1 U.S. Dollar Non-Principal Concentration Subaccount, and then, to the extent that the funds on deposit in the Series 2000-1 US Dollar Concentration Subaccount are insufficient, (2) from the Series 2000-1 Pound Sterling Concentration Subaccount to the Series 2000-1 Pound Sterling Non-Principal Concentration Subaccount, and lastly, (3) from the Series 2000-1 Euro Concentration Subaccount to the Series 2000-1 Euro Non-Principal Concentration Subaccount;
(ii) on each Business Day, following the transfers pursuant to clause (i) above, an amount equal to the Series ---------- 2000-1 Accrued Expense Amount for such day (or, during the Series 2000-1 Revolving Period, such greater amount as the Master Servicer may request in writing) shall be transferred (1) from the Series 2000-1 U.S. Dollar Concentration Subaccount to the Series 2000-1 U.S. Dollar Non-Principal Concentration Subaccount and then, to the extent that the funds on deposit in the Series 2000-1 U.S. Dollar Concentration Subaccount are insufficient, (2) from the Series 2000-1 Pound Sterling Concentration Subaccount to the Series 2000-1 Pound Sterling Non-Principal Concentration Subaccount, and lastly, (3) from the Series 2000-1 Euro Concentration Subaccount to the Series 2000-1 Euro Non-Principal Concentration Subaccount; provided that (A) on the tenth -------- ...
Daily Allocations. 24 SECTION 3C.4.
Daily Allocations. During the Rapid Amortization Period. ------------------------------------------------------ During the Rapid Amortization Period, the Servicer shall, prior to the close of business on each Date of Processing, allocate the following amounts as set forth below:
(i) Allocate to the Series 1997-8 Certificateholders and deposit and retain in the Finance Charge Account an amount equal to the product of (A) the Floating Allocation Percentage on such Date of Processing and (B) the aggregate amount of Collections of Finance Charge Receivables on such Date of Processing.
(ii) Allocate to the Series 1997-8 Certificateholders and deposit and retain in the Principal Account an amount equal to the product of (A) the Fixed/Floating Allocation Percentage on such Date of Processing and (B) the aggregate amount of Collections of Principal Receivables on such Date of Processing; provided, however, that after the date on which an -------- ------- amount of such Collections equal to the Invested Amount has been deposited into the Collection Account and allocated to the Series 1997-8 Certificateholders, the amount determined in accordance with this subparagraph (ii) shall be paid to the Holder of the Exchangeable Transferor Certificate only if the Transferor Interest on such Date of Processing is greater than zero (after giving effect to all Principal Receivables transferred to the Trust on such day) and otherwise shall be deposited in the Collection Account and applied in accordance with subsection 4.03(f) of the Agreement.
Daily Allocations. All allocations to Shareholders of items included within the Trust’s Profits and Losses attributable daily shall be allocated solely among the Shareholders recognized as shareholders as of the close of business each Business Day, as follows:
(a) For purposes of maintaining the Capital Accounts and in determining the rights of the Shareholders among themselves, except as otherwise provided in this Article VI, each item of income, gain, loss and deduction shall be allocated among Shareholders in accordance with their respective Percentage Interests.
(b) Any item of loss or deduction otherwise allocated to the Managing Owner pursuant to Section 6.3(a) which is in excess of such Managing Owner’s positive Adjusted Capital Account balance (following adjustment to reflect the allocation of all other items for such period) shall instead be allocated to the other Shareholders in accordance with their respective Percentage Interests to the extent such item of loss or deduction exceeds such Managing Owner’s Adjusted Capital Account balance; provided that the allocation of any such item to such other Shareholders shall only be made hereunder to the extent the allocation would not result in or increase a negative balance in the Adjusted Capital Account of such other Shareholder. If such an allocation occurs, items of income or gain that would otherwise be allocated to the Managing Owner equal to the amount of such allocated loss or deduction will be allocated to the other Shareholders in accordance with their Percentage Interests as quickly as possible.
(c) If any Shareholder unexpectedly receives any adjustments, allocations or distributions described in Treasury Regulation sections 1.704-1(b)(ii)(d)(4), (5) or (6), items of Trust income and gain shall be specially allocated to such Shareholder in an amount and manner sufficient to eliminate a deficit in its Adjusted Capital Account created by such adjustments, allocations or distributions as quickly as possible. This section 6.3(c) is intended to constitute a “qualified income offset” within the meaning of Treasury Regulation section 1.704-1(b)(2)(ii)(d).
(d) Notwithstanding any other provision of this Trust Agreement, upon or prior to the issuance of additional Shares, the Managing Owner shall have the sole and complete discretion, without the approval of any other Shareholder, to amend any provision of this Article VI in any manner, as is necessary, appropriate or advisable to comply with any current or future prov...
Daily Allocations. If:
(i) the short-term deposit rating of the Servicer by Standard & Poor's is below "A-1" or the short-term deposit rating of the Servicer by ▇▇▇▇▇'▇ is below "P- 1"and, if rated by Fitch, is below "F-1" by Fitch; or
(ii) Chase Manhattan Bank USA, National Association is not the Servicer; then within 5 Business Days of the occurrence of such event and thereafter, as promptly as possible after the Date of Processing of Collections with respect to the Receivables, but in no event later than two Business Days following such Date of Processing, the Servicer shall deposit all Collections directly into the Collection Account and the Collection Account shall be moved from the Servicer if then maintained with it; provided, however, that the Servicer may designate a lesser amount for deposit into the Collection Account upon satisfaction of the Rating Agency Condition. The Servicer shall notify the Trustee of any such event and shall provide the Trustee with the account number, account designation of such account and name of the institution with which such account has been established. Should the Servicer be required to make daily deposits of Collections into the Collection Account pursuant to this subsection, the Servicer shall establish a mechanism by which Collections are to be allocated between the Certificateholder and the Transferor and deposited into the Finance Charge Account and the Principal Account, which method shall satisfy the Rating Agency Condition.
Daily Allocations of Collections Allocated to a Series. ------------------------------------------------------ Daily allocations of the portion of Collections allocated to the Series Collection Subaccount of each Series shall be made in the manner set forth in the related Supplement.
Daily Allocations. The portion of Aggregate Daily Collections allocated to the VFC Certificateholders pursuant to Article III of the Agreement shall be allocated and distributed as set forth in this Article III.
(i) On each Business Day, an amount equal to the Accrued Expense Amount for such day shall be transferred from the Series 1998-1 Collection Subaccount to the Series 1998-1 Non-Principal Collection Sub-subaccount; provided that funds representing any portion of the Accrued Expense Amount which constitute Program Costs or Unreserved Interest shall only be transferred to the extent that, after giving effect to the transfer of such amounts and the deposit of any remaining Collections to the Series 1998-1 Principal Collection Sub-subaccount, the Target Receivables Amount would not exceed the Allocated Receivables Amount.
(ii) Following the transfers pursuant to clause (i) above, any remaining funds on deposit in the Series 1998-1 Collection Subaccount shall be transferred to the Series 1998-1
Daily Allocations. 17 SECTION 3.4. Determination of Interest ........................................................18 SECTION 3.5. Determination of Series 2001-VFC Principal .......................................19 SECTION 3.6. Applications .....................................................................20 SECTION 3.7 Taxes .............................................................................23 ARTICLE IV
Daily Allocations. (a) The portion of Aggregate Daily Collections allocated to the Term Certificates and the Series 1994-2 Subordinated Interest pursuant to Article III of the Agreement shall be allocated
Daily Allocations. On each day, the Servicer shall, out of the Collections that are received or deemed received by the Purchaser or the Servicer on such day:
(i) allocate and hold in trust for the benefit of the Agent and the Secured Parties an aggregate amount equal to the sum of:
(A) all Yield accrued through such day on the Net Funding Advances and all Interest accrued through such day on the Net Liquidity Advances;
(B) the Servicing Fee accrued through such day;
(C) any other fees payable by the Purchaser on or before the next Settlement Date as described in the Fee Letter;
(D) any payment or mandatory prepayment of the Net Funding Advances or Net Liquidity Advances to be made on or before the next Settlement Date (and, after the Termination Date, the Net Funding Advances and the Net Liquidity Advances); and
(E) any other amounts payable by the Purchaser as described in the definition of Aggregate Unpaids, in each case, less the amount theretofore allocated and then held in trust by the Servicer in respect of such amounts;
(ii) pay, pro rata based on the amounts owing pursuant to this clause (a)(ii), (A) to Purchaser an amount equal to any operating expenses (including management fees and expenses and any Taxes payable by Purchaser) of Purchaser then due and payable or that will become due and payable prior to the next Settlement Date, and (B) to Purchaser an amount equal to one thousand five hundred Dollars ($1,500) per annum; and
(iii) allocate the remainder, if any, of such Collections to the Purchaser for application in accordance with Section 4.2.