Common use of Daily Disbursements From the Collection Account Clause in Contracts

Daily Disbursements From the Collection Account. REVOLVING PERIOD. On each Business Day no later than 1:00 p.m. (New York time) during the Revolving Period, and following the transfers made pursuant to Section 6.2, the Administrative Agent shall disburse an amount equal to the product of (a) the Purchaser Interest times (b) the amount of all Collections then on deposit in the Collection Account and its related subaccounts in the following priority: (a) prior to the earlier of the occurrence of the Redwood Transfer Date or a Committed Purchaser Funding Event, to the Retention Account, and after the earlier of the occurrence of the Redwood Transfer Date or a Committed Purchaser Funding Event, to the Administrative Agent: (i) the amount of any Retention Account Deficiency deposited pursuant to Section 6.2(b); and (ii) an amount equal to the sum of: (A) Daily Yield; (B) the Yield Shortfall as of the close of business on the immediately preceding Business Day; (C) the Investor Portion of the Servicing Fee (calculated assuming that the Servicing Fee Rate is the applicable rate); provided, however, that if ADVP Management L.P. is the Servicer and no Servicer Termination Event or Termination Event has occurred, then such amount will not be deposited in the Retention Account on such day but the Seller shall pay the Servicing Fee in accordance with Section 7.5(b); (D) the Investor Portion of the Servicing Fee Shortfall as of the close of business on the immediately preceding Business Day; (E) the Unused Facility Fee; (F) the Unused Facility Fee Shortfall as of the immediately preceding Business Day; and (G) any Additional Amounts or Indemnified Amounts then due; (b) to the Purchasers: (i) an amount equal to the deposits made in the Collection Account pursuant to Section 6.2(a)(iv) and not otherwise disbursed pursuant to Section 6.3(a)(ii)(G) to be disbursed ratably based on the amounts owed to the applicable Purchasers; (ii) an amount equal to any Purchase Excess to be applied in reduction of Capital Investment, to the Purchasers ratably based on the amount of their respective Capital Investments; (iii) if, pursuant to a Repayment Notice, the Seller has requested a reduction of the Capital Investment of the Purchasers, then to the Purchasers, ratably based on the amount of their respective Capital Investments, the lesser of (A) the amount of such requested reduction of Capital Investment and (B) such balance; and (c) to the Seller Account, the balance of any amounts remaining after making the foregoing disbursements.

Daily Disbursements From the Collection Account. REVOLVING PERIODRevolving ----------------------------------------------------------- Period. On each Business Day Day, as soon as practicable and in any event no later ------ than 1:00 p.m. (New York time) 12:00 p.m., during the Revolving Period, and following the transfers made pursuant to in accordance with Section 6.26.02, the Administrative Operating Agent shall disburse an amount equal to the product of (a) the Purchaser Interest times (b) the amount of all Collections then on deposit amounts in the Collection Account and its related subaccounts in the following priority: (a) prior to transfer all amounts in the earlier of Collection Account in the occurrence of the Redwood Transfer Date or a Committed Purchaser Funding Event, to the Retention Account, and after the earlier of the occurrence of the Redwood Transfer Date or a Committed Purchaser Funding Event, to the Administrative Agentfollowing priority: (i) to the Retention Account for the account of the Purchaser, the amount of any Retention Account Deficiency deposited pursuant to Section 6.2(b6.02(b); and; (ii) to the Deferred Purchase Price Sub-Account, all Deferred Purchase Price Collections; (iii) to the Capital Investment Sub-Account, the balance; (b) transfer all amounts in the Deferred Purchase Price Sub-Account, in the following priority: (i) to the Retention Account for the account of the Purchaser, an amount equal to the sum of: (A) Daily Yield; (B) the Yield Shortfall as of for the close of business on the immediately preceding prior Business Day; (C) the Investor Portion of the Servicing Fee (calculated assuming that the Servicing Fee Rate is the applicable rate); provided, however, that if ADVP Management L.P. is the Servicer and no Servicer Termination Event or Termination Event has occurred, then such amount will not be deposited in the Retention Account on such day but the Seller shall pay the Servicing Fee in accordance with Section 7.5(b)Fee; (D) the Investor Portion of the Servicing Fee Shortfall as of for the close of business on the immediately preceding prior Business Day; (E) the Unused Facility Commitment Fee;; and (F) the Unused Facility Commitment Fee Shortfall as of for the immediately preceding prior Business Day; and (G) any Additional Amounts or Indemnified Amounts then due; (bii) to the Purchasers: (i) Capital Investment Sub-Account, an amount equal to the deposits made in the Collection Account pursuant to Section 6.2(a)(iv) and not otherwise disbursed pursuant to Section 6.3(a)(ii)(G) to be disbursed ratably based on the amounts owed to the applicable Purchasers; (ii) an amount equal to any Purchase Excess to be applied in reduction of Capital Investment, to the Purchasers ratably based on the amount of their respective Capital InvestmentsDilution Funded Amount; (iii) ifif the Deferred Purchase Price Adjustment is less than zero, pursuant to a Repayment Notice, the Seller has requested a reduction of the Capital Investment Sub-Account an amount equal to the absolute value of the PurchasersDeferred Purchase Price Adjustment; and (iv) to an account previously designated by the Seller, then to in partial payment of the Purchasers, ratably based on the amount of their respective Capital InvestmentsDeferred Purchase Price, the lesser of (A) the amount of such requested reduction of Capital Investment and (B) such balance, if any; and (c) to transfer all amounts in the Seller Capital Investment Sub-Account, in the balance of any amounts remaining after making the foregoing disbursements.following priority:

Daily Disbursements From the Collection Account. REVOLVING PERIODand Related Sub-Accounts; Revolving Period. On each Business Day no later than 1:00 p.m. (New York time) during the Revolving Period, and following the transfers made pursuant to Section 6.26.02, the Administrative Operating Agent shall disburse an amount equal to the product of (a) the Purchaser Interest times (b) the amount of all Collections amounts then on deposit in the Collection Account and its related subaccounts in the following priority: (a) prior with respect to amounts on deposit in the earlier of the occurrence of the Redwood Transfer Date or a Committed Purchaser Funding Event, to the Retention Collection Account, and after the earlier of the occurrence of the Redwood Transfer Date or a Committed Purchaser Funding Event, to the Administrative Agent: (i) to the Operating Agent, the amount of any Retention Collection Account Deficiency deposited pursuant to Section 6.2(b6.02(b); and; (ii) to the Deferred Purchase Price Sub-Account, the amount of all Deferred Purchase Price Collections deposited in the Collection Account on that day; (iii) to the Capital Investment Sub-Account, the balance of any amounts remaining after making the foregoing disbursements; (b) with respect to amounts on deposit in the Deferred Purchase Price Sub-Account after making the transfers required by Section 6.03(a): (i) to the Operating Agent, an amount equal to the sum of: (A) Daily Yield; (B) the Yield Shortfall as of the close of business on the immediately preceding Business Day; (C) the Investor Portion of the Servicing Fee (calculated assuming that the Servicing Fee Rate is the applicable rate); provided, however, that if ADVP Management L.P. is the Servicer and no Servicer Termination Event or Termination Event has occurred, then such amount will not be deposited in the Retention Account on such day but the Seller shall pay the Servicing Fee in accordance with Section 7.5(b)Fee; (D) the Investor Portion of the Servicing Fee Shortfall as of the close of business on the immediately preceding Business Day; (E) the Unused Facility Fee;; and (F) the Unused Facility Fee Shortfall as of the immediately preceding Business Day; (ii) to the Capital Investment Sub-Account, an amount equal to the Dilution Funded Amount; (iii) if the Deferred Purchase Price Adjustment is less than zero, then to the Capital Investment Sub-Account an amount equal to the absolute value of the Deferred Purchase Price Adjustment; (iv) to an account previously designated by the Seller, in partial payment of the Deferred Purchase Price, the balance of any amounts remaining after making the foregoing disbursements; and (Gc) any Additional Amounts or Indemnified Amounts then due; (b) with respect to amounts on deposit in the Purchasers:Capital Investment Sub-Account after making the transfers required by Section 6.03(a): (i) to the Operating Agent, an amount equal to the sum of any Yield Shortfall, any Servicing Fee Shortfall and any Unused Facility Fee Shortfall following the transfer made pursuant to Section 6.03(b)(i); (ii) to the Operating Agent (or, in the case of Indemnified Amounts or Additional Amounts for the account of the applicable Purchaser Indemnified Person or Affected Party, respectively), an amount equal to the deposits made in the Collection Account pursuant to Section 6.2(a)(iv6.02(a)(v) and not otherwise disbursed pursuant to Section 6.3(a)(ii)(G) to be disbursed ratably based on the amounts owed to the applicable Purchasers6.03(a)(i); (iiiii) to the Operating Agent, an amount equal to any Purchase Excess to be applied in reduction of Capital Investment, to the Purchasers ratably based on the amount of their respective Capital InvestmentsExcess; (iiiiv) if the Deferred Purchase Price Adjustment is greater than zero, then to the Seller an amount equal to the Deferred Purchase Price Adjustment as partial payment of the Deferred Purchase Price; and (v) the balance of any amounts remaining after making the foregoing disbursements, at the Seller's option, (A) to an account previously designated by the Seller as payment of the Cash Purchase Price for Purchases made on such day or (B) if, pursuant to a Repayment Notice, the Seller has requested a reduction of to reduce the Capital Investment of the PurchasersPurchaser, then to the Purchasers, ratably based on the amount of their respective Capital InvestmentsPurchaser, the lesser of (A1) the amount of such requested reduction of Capital Investment and (B2) such balance; and (c) to the Seller Account, the balance of any amounts remaining after making the foregoing disbursements.

Daily Disbursements From the Collection Account. REVOLVING PERIODRevolving ----------------------------------------------------------- Period. On each Business Day Day, as soon as practicable and in any event no later ------ than 1:00 p.m. (New York time) 12:00 p.m., during the Revolving Period, and following the transfers made pursuant to in accordance with Section 6.26.02, the Administrative Operating Agent shall disburse an amount equal to the product of (a) the Purchaser Interest times (b) the amount of all Collections then on deposit amounts in the Collection Account and its related subaccounts in the following priority: (a) prior to transfer all amounts in the earlier of Collection Account in the occurrence of the Redwood Transfer Date or a Committed Purchaser Funding Event, to the Retention Account, and after the earlier of the occurrence of the Redwood Transfer Date or a Committed Purchaser Funding Event, to the Administrative Agentfollowing priority: (i) to the Retention Account for the account of the Purchaser, the amount of any Retention Account Deficiency deposited pursuant to Section 6.2(b6.02(b); and; (ii) to the Deferred Purchase Price Sub-Account, all Deferred Purchase Price Collections; (iii) to the Capital Investment Sub-Account, the balance; (b) transfer all amounts in the Deferred Purchase Price Sub-Account, in the following priority: (i) to the Retention Account for the account of the Purchaser, an amount equal to the sum of: (A) Daily Yield; (B) the Yield Shortfall as of for the close of business on the immediately preceding prior Business Day; (C) the Investor Portion of the Servicing Fee (calculated assuming that the Servicing Fee Rate is the applicable rate); provided, however, that if ADVP Management L.P. is the Servicer and no Servicer Termination Event or Termination Event has occurred, then such amount will not be deposited in the Retention Account on such day but the Seller shall pay the Servicing Fee in accordance with Section 7.5(b)Fee; (D) the Investor Portion of the Servicing Fee Shortfall as of for the close of business on the immediately preceding prior Business Day; (E) the Unused Facility Commitment Fee;; and (F) the Unused Facility Commitment Fee Shortfall as for the prior Business Day; (ii) to the Capital Investment Sub-Account, an amount equal to the Dilution Funded Amount; (iii) if the Deferred Purchase Price Adjustment is less than zero, to the Capital Investment Sub-Account an amount equal to the absolute value of the immediately preceding Business DayDeferred Purchase Price Adjustment; and (Giv) any Additional Amounts or Indemnified Amounts then due;to an account previously designated by the Seller, in partial payment of the Deferred Purchase Price, the balance, if any; and (bc) to transfer all amounts in the PurchasersCapital Investment Sub-Account, in the following priority: (i) an amount equal to the deposits Retention Account for the account of the Purchaser, the Yield Shortfall, the Servicing Fee Shortfall and the Unused Commitment Fee Shortfall, if any, following the transfer made pursuant to Section 6.03(b)(i); (ii) to the Collateral Account for the account of the Purchaser (or in the case of Indemnified Amounts, for the account of the Indemnified Party), amounts deposited into the Collection Account pursuant to Section 6.2(a)(iv) and not otherwise disbursed pursuant to Section 6.3(a)(ii)(G) to be disbursed ratably based on the amounts owed to the applicable Purchasers; (ii) an amount equal to any Purchase Excess to be applied in reduction of Capital Investment, to the Purchasers ratably based on the amount of their respective Capital Investments6.02(a)(vi); (iii) to the Collateral Account for the account of the Purchaser, in reduction of its Capital Investment if, as disclosed in the most recently submitted Investment Base Certificate, there is a Purchase Excess, by transfer of such Purchase Excess; (iv) if, pursuant to a Repayment Seller Notice, the Seller has requested a reduction of to reduce the Capital Investment of the PurchasersPurchaser, then to the Purchasers, ratably based on Collateral Account for the amount account of their respective Capital Investmentsthe Seller, the lesser of (A) the amount of such requested request, in reduction of Capital Investment and the (B) such the balance; and; (cv) if the Deferred Purchase Price Adjustment is greater than zero, to the Seller Accountan amount equal to the Deferred Purchase Price Adjustment, as partial payment of the balance Deferred Purchase Price; (vi) the balance, to an account previously designated by the Seller, as payment of any amounts remaining after making the foregoing disbursementsCash Purchase Price for Purchases made on such day.