Distributions from Collection Account. Subject to Section 8.2(e), on each Payment Date the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) withdraw from the Collection Account and make deposits and payments, to the extent of Available Funds in the Collection Account for that Payment Date, in the following order of priority (pro rata within each priority level based on the amounts due except as otherwise stated):
(i) first, to the payment of amounts, including indemnities, then 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, in each case, if not paid by the Depositor or the Administrator, up to a maximum of $375,000 per year;
(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, for allocation as principal under Section 8.2(d), the First Priority Principal Payment;
(v) fifth, to the Noteholders of Class B Notes, the Accrued Note Interest for the Class B Notes;
(vi) sixth, for allocation as principal under Section 8.2(d), the Second Priority Principal Payment;
(vii) seventh, to the Noteholders of Class C Notes, the Accrued Note Interest for the Class C Notes;
(viii) eighth, to the Reserve Account, the amount required to bring the amount in the Reserve Account up to the Specified Reserve Balance, unless the Payment Date is on or after the Final Scheduled Payment Date for the Class C Notes;
(ix) ninth, for allocation as principal under Section 8.2(d), the Regular Principal Payment;
(x) tenth, to the payment of all amounts 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, in each case, if not paid by the Depositor or Administrator or under Section 8.2(c)(i) on that Payment Date; and
(xi) eleventh, to the holder of the Residual Interest, any remaining amounts.
Distributions from Collection Account. (a) On the second Business Day prior to each Payment Date, so long as the Issuer or its assignee is the Grantor Trust Holder, the Indenture Trustee, in accordance with Section 5.01(b)(2) of the Sale and Servicing Agreement, shall withdraw from the Collection Account the Available Collection Amount for such Payment Date and deposit such amount into the Note Payment Account. Such deposits into the Note Payment Account from the Collection Account shall be deemed to constitute distributions to and on behalf of the Grantor Trust Holder.
(b) The Indenture Trustee may also make withdrawals from the Collection Account pursuant to Section 5.01(b)(3) of the Sale and Servicing Agreement.
Distributions from Collection Account. On each Payment Date, the Indenture Trustee shall (based solely on the information contained in the Servicer's Monthly Report delivered on the related Determination Date, upon which the Indenture Trustee may conclusively rely) distribute the following amounts and in the order of priority specified below. Within each order of priority, amounts shall be deemed withdrawn first from Available Pledged Revenues, and second (but only as to amounts described in clauses (ii) and (iii) below) from amounts deposited in the Collection Account pursuant to Section 7.05(d):
(i) first, from the Available Pledged Revenues then on deposit in the Collection Account, to the Servicer, the Servicing Fee and the reimbursement for Servicer Advances for the related Collection Period and any amounts specified in Section 2.05 hereof, to the extent the Servicer has not reimbursed itself in respect of such amounts;
(ii) second, from the Amount Available then remaining on deposit in the Collection Account, to the Note Distribution Account an amount equal to the Note Interest Distributable Amount for such Payment Date;
(iii) third, from the Amount Available then remaining on deposit in the Collection Account, to the Note Distribution Account, an amount equal to the Note Principal Distributable Amount for such Payment Date;
(iv) fourth, from the Amount Available then remaining on deposit in the Collection Account, to the Reserve Account, the amount, if any, necessary to increase the balance therein to the Required Reserve Amount;
(v) fifth, from the Amount Available then remaining on deposit in the Collection Account, to the parties entitled thereto in accordance with the Reserve Account Agreement, any amounts due and unpaid thereunder;
(vi) sixth, any remaining Amount Available to the Indenture Trustee for distribution to the Equity Certificateholder. In the event the Servicer's Monthly Report shows that, as of any Determination Date, there are amounts on deposit in the Collection Account which do not constitute Pledged Revenues due to clause (ii)(b) of the definition thereof and to which the Depositor is entitled pursuant to Section 2.04 hereof, the Indenture Trustee shall forthwith pay such amount to or upon the written order of the Depositor.
Distributions from Collection Account. On each Payment Date the Owner Trustee (based solely on the information contained in the Servicer's monthly payment instructions referred to in Sections 7.05(a) or (b), as applicable, of the Pooling Agreement) shall make the distributions and payments from the Available Amounts on deposit in the Collection Account to the parties, for the purposes and in the order of priorities specified in such Sections 7.05(a) or (b) of the Pooling Agreement, as applicable.
Distributions from Collection Account. (a) On the sixth Business Day prior to each Payment Date, so long as the Issuer or its assignee is the Grantor Trust Holder, the Indenture Trustee, in accordance with Section 5.01(b)(2) of the Sale and Servicing Agreement, shall withdraw from the Collection Account the Available Collection Amount for such Payment Date and deposit such amount into the Note Payment Account. Such deposits into the Note Payment Account from the Collection Account shall be deemed to constitute distributions to and on behalf of the Grantor Trust Holder.
(b) The Indenture Trustee may also make withdrawals from the Collection Account pursuant to Section 5.01(b)(3) of the Sale and Servicing Agreement.
Distributions from Collection Account. 30 8.1 Distributions from Collection Account .................................... 30 ii-
Distributions from Collection Account. 8.2.1 The Borrower shall hold the Collection Account and all amounts deposited therein from time to time in trust for the Lender and shall not withdraw any amount from the Collection Account, except for any amount which is not contemplated to be deposited into the Collection Account pursuant to the terms of this Agreement and except in accordance with this Section 8.
Distributions from Collection Account. On each Distribution Date, ------------------------------------- the Indenture Trustee (based on the information provided by the Servicer contained in the Servicer's Remittance Report for such Distribution Date) shall distribute the Available Collection Amount from the Collection Account by 9:00 a.m. (New York City time) for application in the following order of priority:
(A) to the Servicer, an amount equal to the Servicing Compensation (net of any amounts retained prior to deposit into the Collection Account pursuant to subsection (b)(1) above) and all unpaid Servicing Compensation from prior Distribution Dates, (B) to the Indenture Trustee, an amount equal to the Indenture Trustee Fee and all unpaid Indenture Trustee Fees from prior Distribution Dates, (C) to the Owner Trustee, an amount equal to the Owner Trustee Fee and all unpaid Owner Trustee Fees from prior Distribution Dates, and (D) to the Custodian, an amount equal to the Custodian Fee, if any, and all unpaid Custodian Fees from prior Distribution Dates; and
(ii) to the City, any amounts due and unpaid (after the expiration of any applicable cure periods) pursuant to the Lease between the City and the Transferor to the extent funds on deposit in the Lease Reserve Account are insufficient to make such payment;
(iii) to the Paying Account, up to an amount equal to the Noteholders' Interest Distribution Amount for such Distribution Date;
(iv) to the Debt Service Reserve Account to the extent the amount on deposit therein on such Distribution Date is less than the Required Debt Service Reserve Amount, an amount equal to such shortfall;
(v) if such Distribution Date is in the month of November, to the Paying Account, up to an amount equal to the Targeted Principal Distribution Amount for such Distribution Date until the Principal Balance of each Note is reduced to zero;
(vi) to the Debt Service Coverage Account, the Debt Service Coverage Amount for such Distribution Date;
(vii) if a Lease Reserve Trigger Event shall have occurred, to the Lease Reserve Account, to the extent the amount on deposit therein on such Distribution Date is less than the Lease Reserve Amount, an amount equal to such shortfall;
(viii) to the Indenture Trustee, the Issuer Trust and the Servicer, as applicable, to reimburse for expenditures made or incurred in connection with the exercise of rights or remedies under the Basic Documents; and
(ix) if no Event of Default has occurred and is continuing, the remaining amount to the C...
Distributions from Collection Account. Section 2.10(a)(ii) is hereby amended by:
(a) deleting the text of clause FOURTH thereof in its entirety and inserting the term “[reserved.]” in its place; and
(b) inserting a new clause “SEVENTH PRIME” as set forth immediately below and deleting the term “and” at the end of the existing clause “SEVENTH”:
Distributions from Collection Account. Servicers shall distribute or cause to be distributed all loan payments collected in the immediately preceding month in the following manner. Within _____ Business Days of each month end, Servicers will generate and deliver to Purchaser a "Funds Distribution Report" for review by Purchaser, as such form may from time to time be amended at the written direction of Purchaser. Servicers shall, within ten (10) Business Days of each month end, disburse such funds in accordance with the approved Funds Distribution Report.