Common use of Daily Allocations Clause in Contracts

Daily Allocations. During the Rapid Amortization Period. During the Rapid Amortization Period, the Servicer shall, prior to the close of business on the second Business Day following any Date of Processing, allocate the following amounts as set forth below: (i) Allocate to the Series 1998-1 Holders and deposit and retain in the Collection 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 1998-1 Holders and deposit and retain in the Collection Account an amount equal to the product of (A) the Principal 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 Investor Amount has been deposited into the Collection Account and allocated to the Series 1998-1 Holders, the amount determined in accordance with this subparagraph (ii) in excess thereof shall be first, if any other Principal Sharing Series in Group One is outstanding and in its Amortization Period or Accumulation Period (as such terms are defined in the Agreement), retained in the Collection Account for application, to the extent necessary, as Shared Principal Collections in accordance with Section 4.04 of the Agreement to other Series in Group One on the related Distribution Date, and second paid to the Holders of the Transferor Certificates only if the Transferor Amount on such Date of Processing is greater than the Required Transferor Amount and an amount equal to the product of (I) the aggregate amount of Principal Receivables and (II) one minus the Discount Percentage is greater than the Required Principal Balance (after giving effect to all Principal Receivables transferred to the Trust on such day and any amounts deposited in the Excess Funding Account on such day) and otherwise shall be deposited in the Excess Funding Account until the Transferor Amount is greater than the Required Transferor Amount and an amount equal to the product of (I) the aggregate amount of Principal Receivables and (II) one minus the Discount Percentage is greater than the Required Principal Balance and applied in accordance with Section 4.02 of the Agreement and the remainder shall be paid to the Holders of the Transferor Certificates.

Daily Allocations. During the Rapid Amortization Period. ------------------------------------------------------ During the Rapid Amortization Period, the Servicer shall, prior to the close of business on the second Business Day following any each Date of Processing, allocate the following amounts as set forth below: (i) Allocate to the Series 19981999-1 Holders Certificateholders and deposit and retain in the Collection 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 19981999-1 Holders Certificateholders and deposit and retain in the Collection Principal Account an amount equal to the product of (A) the Principal 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 Investor Invested Amount has been deposited into the Collection Account and allocated to the Series 19981999-1 HoldersCertificateholders, the amount determined in accordance with this subparagraph (ii) in excess thereof shall be first, if any other Principal Sharing Series in Group One is outstanding and in its Amortization Period or Accumulation Period (as such terms are defined in the Agreement), retained in the Collection Account for application, to the extent necessary, as Shared Principal Collections in accordance with Section 4.04 of the Agreement to other Series in Group One on the related Distribution Date, and second paid to the Holders Holder of the Exchangeable Transferor Certificates Certificate only if the Transferor Amount Interest on such Date of Processing is greater than the Required Minimum Transferor Amount and an amount equal to the product of (I) the aggregate amount of Principal Receivables and (II) one minus the Discount Percentage is greater than the Required Principal Balance Interest (after giving effect to all Principal Receivables transferred to the Trust on such day and any amounts deposited in the Excess Funding Account on such day) and otherwise shall be deposited in the Excess Funding Collection Account until the Transferor Amount is greater than the Required Transferor Amount and an amount equal to the product of (I) the aggregate amount of Principal Receivables and (II) one minus the Discount Percentage is greater than the Required Principal Balance and applied in accordance with Section 4.02 subsection 4.03(f) of the Agreement and the remainder shall be paid to the Holders of the Transferor CertificatesAgreement.

Daily Allocations. During the Rapid Amortization Period. ------------------------------------------------------ During the Rapid Amortization Period, the Servicer shall, prior to the close of business on the second Business Day following any each Date of Processing, allocate the following amounts as set forth below: (i) Allocate to the Series 19981996-1 Holders 6 Certificateholders and deposit and retain in the Collection 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 19981996-1 Holders 6 Certificateholders and deposit and retain in the Collection Principal Account an amount equal to the product of (A) the Principal 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 Investor Invested Amount has been deposited into the Collection Account and allocated to the Series 19981996-1 Holders6 Certificateholders, the amount determined in accordance with this subparagraph (ii) in excess thereof shall be first, if any other Principal Sharing Series in Group One is outstanding and in its Amortization Period or Accumulation Period (as such terms are defined in the Agreement), retained in the Collection Account for application, to the extent necessary, as Shared Principal Collections in accordance with Section 4.04 of the Agreement to other Series in Group One on the related Distribution Date, and second paid to the Holders Holder of the Exchangeable Transferor Certificates Certificate only if the Transferor Amount Interest on such Date of Processing is greater than the Required Transferor Amount and an amount equal to the product of (I) the aggregate amount of Principal Receivables and (II) one minus the Discount Percentage is greater than the Required Principal Balance zero (after giving effect to all Principal Receivables transferred to the Trust on such day and any amounts deposited in the Excess Funding Account on such day) and otherwise shall be deposited in the Excess Funding Collection Account until the Transferor Amount is greater than the Required Transferor Amount and an amount equal to the product of (I) the aggregate amount of Principal Receivables and (II) one minus the Discount Percentage is greater than the Required Principal Balance and applied in accordance with Section 4.02 subsection 4.03(f) of the Agreement and the remainder shall be paid to the Holders of the Transferor CertificatesAgreement.

Daily Allocations. During the Rapid Amortization Period. ------------------------------------------------------ During the Rapid Amortization Period, the Servicer shall, prior to the close of business on the second Business Day following any each Date of Processing, allocate the following amounts as set forth below: (i) Allocate to the Series 19981997-1 Holders Certificateholders and deposit and retain in the Collection 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 19981997-1 Holders Certificateholders and deposit and retain in the Collection Principal Account an amount equal to the product of (A) the Principal 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 Investor Invested Amount has been deposited into the Collection Account and allocated to the Series 19981997-1 HoldersCertificateholders, the amount determined in accordance with this subparagraph (ii) in excess thereof shall be first, if any other Principal Sharing Series in Group One is outstanding and in its Amortization Period or Accumulation Period (as such terms are defined in the Agreement), retained in the Collection Account for application, to the extent necessary, as Shared Principal Collections in accordance with Section 4.04 of the Agreement to other Series in Group One on the related Distribution Date, and second paid to the Holders Holder of the Exchangeable Transferor Certificates Certificate only if the Transferor Amount Interest on such Date of Processing is greater than the Required Transferor Amount and an amount equal to the product of (I) the aggregate amount of Principal Receivables and (II) one minus the Discount Percentage is greater than the Required Principal Balance zero (after giving effect to all Principal Receivables transferred to the Trust on such day and any amounts deposited in the Excess Funding Account on such day) and otherwise shall be deposited in the Excess Funding Collection Account until the Transferor Amount is greater than the Required Transferor Amount and an amount equal to the product of (I) the aggregate amount of Principal Receivables and (II) one minus the Discount Percentage is greater than the Required Principal Balance and applied in accordance with Section 4.02 subsection 4.03(f) of the Agreement and the remainder shall be paid to the Holders of the Transferor CertificatesAgreement.

Daily Allocations. During the Rapid Amortization Period. ------------------------------------------------------ During the Rapid Amortization Period, the Servicer shall, prior to the close of business on the second Business Day following any each Date of Processing, allocate the following amounts as set forth below: (i) Allocate to the Series 19981997-1 Holders 8 Certificateholders and deposit and retain in the Collection 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 19981997-1 Holders 8 Certificateholders and deposit and retain in the Collection Principal Account an amount equal to the product of (A) the Principal 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 Investor Invested Amount has been deposited into the Collection Account and allocated to the Series 19981997-1 Holders8 Certificateholders, the amount determined in accordance with this subparagraph (ii) in excess thereof shall be first, if any other Principal Sharing Series in Group One is outstanding and in its Amortization Period or Accumulation Period (as such terms are defined in the Agreement), retained in the Collection Account for application, to the extent necessary, as Shared Principal Collections in accordance with Section 4.04 of the Agreement to other Series in Group One on the related Distribution Date, and second paid to the Holders Holder of the Exchangeable Transferor Certificates Certificate only if the Transferor Amount Interest on such Date of Processing is greater than the Required Transferor Amount and an amount equal to the product of (I) the aggregate amount of Principal Receivables and (II) one minus the Discount Percentage is greater than the Required Principal Balance zero (after giving effect to all Principal Receivables transferred to the Trust on such day and any amounts deposited in the Excess Funding Account on such day) and otherwise shall be deposited in the Excess Funding Collection Account until the Transferor Amount is greater than the Required Transferor Amount and an amount equal to the product of (I) the aggregate amount of Principal Receivables and (II) one minus the Discount Percentage is greater than the Required Principal Balance and applied in accordance with Section 4.02 subsection 4.03(f) of the Agreement and the remainder shall be paid to the Holders of the Transferor CertificatesAgreement.

Daily Allocations. During the Rapid any Partial Amortization Period. During the Rapid -------------------------------------------------------- any Partial Amortization Period, the Servicer shall, prior to the close of business on the second Business Day following any each Date of Processing, allocate the following amounts as set forth below: (i) Allocate to the Series 19981999-1 Holders A Certificateholders and deposit and retain in the Collection 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 19981999-1 Holders A Certificateholders and deposit and retain in the Collection Principal Account an amount equal to the product of (A) the Principal 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 Investor difference between the Partial Amortization Amount for such Partial Amortization Period and the total amount of Partial Amortization Principal previously paid for such Partial Amortization Period to the Class A Certificateholders and Class B Certificateholders and the Collateral Interest Holder has been deposited into the Collection Account and allocated to the Series 19981999-1 HoldersA Certificateholders, the amount determined in accordance with this subparagraph (ii) in excess thereof shall be first, if any other Principal Sharing Series in Group One is outstanding and in its Amortization Period or Accumulation Period (as such terms are defined in the Agreement), retained in the Collection Account for application, to the extent necessary, as Shared Principal Collections in accordance with Section 4.04 of the Agreement to other Series in Group One on the related Distribution Date, and second paid to the Holders Holder of the Exchangeable Transferor Certificates Certificate only if the Transferor Amount Interest on such Date of Processing is greater than the Required Minimum Transferor Amount and an amount equal to the product of (I) the aggregate amount of Principal Receivables and (II) one minus the Discount Percentage is greater than the Required Principal Balance Interest (after giving effect to all Principal Receivables transferred to the Trust on such day and any amounts deposited in the Excess Funding Account on such day) and otherwise shall be deposited in the Excess Funding Collection Account until the Transferor Amount is greater than the Required Transferor Amount and an amount equal to the product of (I) the aggregate amount of Principal Receivables and (II) one minus the Discount Percentage is greater than the Required Principal Balance and applied in accordance with Section 4.02 subsection 4.03(f) of the Agreement and the remainder shall be paid to the Holders of the Transferor CertificatesAgreement.