Deposits During the Rapid Amortization Period. On or before each Distribution Date during the Rapid Amortization Period, the Servicer shall direct the Trustee that funds be paid or deposited, and the Trustee shall apply such funds in the following amounts, to the extent such funds are available and in the order of priority specified, to the account or Person indicated, in each case as set forth below.
Appears in 20 contracts
Samples: Pooling and Servicing Agreement (Sears Credit Account Master Trust Ii), Pooling and Servicing Agreement (Sears Credit Account Master Trust Ii), Pooling and Servicing Agreement (Sears Credit Account Master Trust Ii)
Deposits During the Rapid Amortization Period. On or before each Distribution Date during the Rapid Amortization Period, the Servicer shall direct the Trustee that funds be paid or deposited, and the Trustee shall apply such funds in the following amounts, to the extent such funds are available and in the order of priority specified, to the account or Person indicated, in each case as set forth below. (1) Deposits from the Series Principal Funding Account into the Series Principal Collections Account. All amounts on deposit in the Series Principal Funding Account shall be deposited into the Series Principal Collections Account.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Sears Credit Account Master Trust Ii)
