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. (2) Deposits from the Series Pre-Funding Account into the Series Principal Collections Account. If applicable, all amounts on deposit in the Series Pre-Funding Account shall be deposited into the Series Principal Collections Account. (3) Deposits from the PFA Special Reserve Account into the Series Collections Account. If applicable, all amounts on deposit in the PFA Special Reserve Account shall be deemed to be Series Finance Charge Collections and shall be deposited into the Series Collections Account. (4) Deposits from the Series Pre-Funding Special Reserve Account into the Series Collections Account. If applicable, all amounts on deposit in the Series Pre-Funding Special Reserve Account shall be deemed to be Series Finance Charge Collections and shall be deposited into the Series Collections Account.
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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.
(2) Deposits from the Series Pre-Funding Account into the Series Principal Collections Account. If applicable, all amounts on deposit in the Series Pre-Funding Account shall be deposited into the Series Principal Collections Account.
(3) Deposits from the PFA Special Reserve Account into the Series Collections Account. If applicable, all amounts on deposit in the PFA Special Reserve Account shall be deemed to be Series Finance Charge Collections and shall be deposited into the Series Collections Account.
(4) Deposits from the Series Pre-Funding Special Reserve Account into the Series Collections Account. If applicable, all amounts on deposit in the Series Pre-Funding Special Reserve Account shall be deemed to be Series Finance Charge Collections and shall be deposited into the Series Collections Account.
(5) Class A Monthly Interest. An amount equal to the lesser of
(A) the Class A Modified Required Amount and
(B) the sum of Series Finance Charge Collections and Series Additional Allocable Amounts shall be withdrawn from the Series Collections Account and deposited into the Series Distribution Account.
(6) Class B Monthly Interest. An amount equal to the lesser of
(A) the Class B Modified Required Amount and
(B) the sum of any remaining Series Finance Charge Collections and any remaining Series Additional Allocable Amounts
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Samples: 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.
(2) Deposits from the Series Pre-Funding Account into the Series Principal Collections Account. If applicable, all amounts on deposit in the Series Pre-Funding Account shall be deposited into the Series Principal Collections Account.
(3) Deposits from the PFA Special Reserve Account into the Series Collections Account. If applicable, all amounts on deposit in the PFA Special Reserve Account shall be deemed to be Series Finance Charge Collections and shall be deposited into the Series Collections Account.
(4) Deposits from the Series Pre-Funding Special Reserve Account into the Series Collections Account. If applicable, all amounts on deposit in the Series Pre-Funding Special Reserve Account shall be deemed to be Series Finance Charge Collections and shall be deposited into the Series Collections Account.
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