Distributions Following Acceleration. If the Notes are accelerated after an Event of Default, on each Payment Date starting with the Payment Date relating to the Collection Period in which the Notes are accelerated, the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) withdraw from the Bank Accounts and make deposits and payments, to the extent of funds in the Bank Accounts for the related Collection Period, in the following order of priority (pro rata to the Persons within each priority level based on the amounts due except as stated):
(i) first, to the payment of amounts, including indemnities, due to the Indenture Trustee, the Owner Trustee and the Asset Representations Reviewer and, to or at the direction of the Issuer, any expenses of the Issuer incurred under the Transaction Documents;
(ii) second, to the Servicer, all unpaid Servicing Fees;
(iii) third, to the Noteholders of Class A Notes, the aggregate Accrued Note Interest for the Class A Notes, pro rata based on the Note Balances of the Class A Notes on the prior Payment Date (after giving effect to payments on that date);
(iv) fourth, to the Noteholders of Class A-1 Notes, in payment of principal until the Note Balance of the Class A-1 Notes is reduced to zero;
(v) fifth, to the Noteholders of Class A-2a and Class A-2b Notes, pro rata based on the respective Notes Balances, in payment of principal until the Note Balance of the Class A-2a and Class A-2b Notes is reduced to zero;
(vi) sixth, to the Noteholders of Class A-3 Notes, in payment of principal until the Note Balance of the Class A-3 Notes is reduced to zero;
(vii) seventh, to the Noteholders of Class A-4 Notes, in payment of principal until the Note Balance of the Class A-4 Notes is reduced to zero;
(viii) eighth, to the Noteholders of Class B Notes, the Accrued Note Interest for the Class B Notes;
(ix) ninth, to the Noteholders of Class B Notes, in payment of principal until the Note Balance of the Class B Notes is reduced to zero;
(x) tenth, to the Noteholders of Class C Notes, the Accrued Note Interest for the Class C Notes;
(xi) eleventh, to the Noteholders of Class C Notes, in payment of principal until the Note Balance of the Class C Notes is reduced to zero; and
(xii) twelfth, to the holder of the Residual Interest, any remaining amounts.
Distributions Following Acceleration. If the 2018-B Exchange Note is accelerated due to an Exchange Note Event of Default, all funds available for distribution under Section 5.1(a) will be paid, first, to the Collateral Agent and, second, to the Administrative Agent, in each case, to the extent of any amounts due under Section 8.6 of the Credit and Security Agreement relating to the 2018-B Exchange Note or the 2018-B Reference Pool, if those amounts have not been paid by the Borrowers, before making payments under Section 5.1(a).
Distributions Following Acceleration. If the Notes are accelerated after an Event of Default with respect to Group 1, on each Payment Date starting with the Payment Date relating to the Collection Period in which the Notes are accelerated, the Note Paying Agent will (based on the information in the most recent Monthly Investor Report) withdraw from the Series 2024-1 Accounts and make deposits and payments, to the extent of Series 2024-1 Available Funds and funds in the Series 2024-1 Accounts for the related Collection Period, in the following order of priority (pro rata to the Persons within each priority level based on the amounts due except as stated):
(i) first, pro rata, (A) to the Indenture Trustee, all amounts due to the Indenture Trustee, including fees, expenses and indemnities, (B) to the Master Collateral Agent and the Owner Trustee, the Series 2024-1 Group Allocated Percentage of all amounts due to such parties, including fees, expenses and indemnities and (C) to the Asset Representations Reviewer, (i) the Series 2024-1 ARR Series Allocation Percentage of all amounts due to the Asset Representations Reviewer, including fees (excluding any Supplemental ARR Fee and including fees due in connection with any Asset Representations Review of Group 1 Receivables), expenses and indemnities and (ii) the Series 2024-1 Supplemental ARR Series Allocation Percentage of the Supplemental ARR Fee;
(ii) second, (A) to the Servicer, the Series 2024-1 Allocation Percentage of the Servicing Fee and (B) to any Successor Servicer, the Series 2024-1 Group Allocated Percentage of a one-time Successor Servicer engagement fee of $150,000, payable on the first Payment Date following its assumption of duties as Successor Servicer;
(iii) third, to the Noteholders of Class A-1a Notes and Class A-1b Notes, the aggregate Accrued Note Interest for the Class A-1a Notes and the Class A-1b Notes, pro rata, based on the Accrued Note Interest due on each such Class of Notes;
(iv) fourth, to the Noteholders of Class A-1a Notes and the Class A-1b Notes, pro rata, based on the Note Balance of each such Class of Notes, in payment of principal until the aggregate Note Balance of the Class A-1a Notes and the Class A-1b Notes is reduced to zero;
(v) fifth, to the Noteholders of Class B Notes, the Accrued Note Interest for the Class B Notes;
(vi) sixth, to the Noteholders of Class B Notes in payment of principal until the Note Balance of the Class B Notes is reduced to zero;
(vii) seventh, to the Noteholders of Class C Notes, t...
Distributions Following Acceleration. If the 20 - Exchange Note is accelerated following an Exchange Note Event of Default, all funds available for distribution under Section 5.1(a) will be applied, first, to the Collateral Agent and, second, to the Administrative Agent, in each case, to the extent of any amounts due under Section 8.6 of the Credit and Security Agreement relating to the 20 - Exchange Note or the 20 - Reference Pool, if those amounts have not been paid by the Borrowers.
