Common use of Distributions to Issuer Clause in Contracts

Distributions to Issuer. On each Payment Date, based on the information in the Servicing Certificate for the Payment Date and subject to Section 8.03(a),(b), and (c), the Indenture Trustee shall distribute to the Issuer from amounts in the Payment Account (i) any Net Draws Principal Payment for the Payment Date, (ii) the Interest Collections that are not Available Interest Collections on the Payment Date for the Collection Period and are not paid out as Subordinated Transferor Collections under Section 8.03(c), and (iii) the portion of Transferor Principal Collections for the Collection Period that are not paid out as Subordinated Transferor Collections under Section 8.03(c). For the purposes of this Section 8.03(e), payments of Subordinated Transferor Collections under Section 8.03(c) shall be considered to be made first from Interest Collections until they are reduced to zero, and then from Principal Collections.

Distributions to Issuer. On each Payment Date, based on the information in the Servicing Certificate for the Payment Date and subject to Section 8.03(a),(b), and (c), the Indenture Trustee shall distribute to the Issuer from amounts in the Payment Account (i) any Net Draws Principal Payment for the Payment Date, (ii) the Interest Collections that are not Available Interest Collections on the Payment Date for the related Collection Period and are not paid out as Subordinated Transferor Collections under Section 8.03(c), and (iii) the portion of Transferor Principal Collections for the Collection Period that are not paid out as Subordinated Transferor Collections under Section 8.03(c8.03(d). For the purposes of this Section 8.03(e), payments of Subordinated Transferor Collections under Section 8.03(c8.03(d) shall be considered to be made first from Interest Collections until they are reduced to zero, and then from Principal Collections.