Common use of Designation of the Reference Pool Clause in Contracts

Designation of the Reference Pool. Each Exchange Note Supplement or Warehouse Designation will designate a portion of the Closed-End Units included in the Warehouse Facility Pool as the “Reference Pool” with respect to the related Closed-End Exchange Note, Closed-End Exchange Notes or Warehouse Designation, as applicable. Upon the effectiveness of the applicable Exchange Note Supplement or Warehouse Designation, Closed-End Units designated therein as being included in the applicable Reference Pool will no longer be a part of the Warehouse Facility Pool, and will not be available to be part of any other Reference Pool. Each Closed-End Exchange Note will be payable solely from Closed-End Collections on the Closed-End Units in the related Reference Pool in accordance with the priorities set forth in Article X and the related Exchange Note Supplement, if applicable. Payments made on the Reference Pool designated pursuant to the Warehouse Designation will be payable solely from Closed-End Collections on the Closed-End Units in the related Reference Pool in accordance with the Warehouse Designation and the documents related thereto. For purposes of determining the amount and portion of Closed-End Collections that are applicable to any Reference Pool, the Closed-End Units included in such Reference Pool will be deemed to have been included in such Reference Pool from and after the Cutoff Date specified in the related Exchange Note Supplement or Warehouse Designation (or, in the case of any Closed-End Units that are subsequently allocated to a Reference Pool pursuant to Section 6.2(b), the Cutoff Date applicable to such Closed-End Units that is specified in the applicable Reference Pool Reallocation Notice).”