Common use of Distributions Under Trust Financing Agreements; Method of Payment Clause in Contracts

Distributions Under Trust Financing Agreements; Method of Payment. Before the satisfaction and discharge of the Master Collateral Agreement, all distributions of Trust Property will be allocated in accordance with Section 9.4 of the Master Collateral Agreement and will be distributed on each Payment Date to the Certificateholders pursuant to the priorities listed below. In addition, on each Payment Date, (i) amounts equal to the Transferor’s Allocation on any Payment Date, (ii) amounts not needed on a Payment Date, or any other date specified in the related Series Related Documents, to pay the Credit Extensions and the Trust’s other obligations under the Transaction Documents and any other Series Related Documents to the extent specified in the related Trust Financing Agreement for a Series, (iii) investment earnings on amounts held in the Collection Account or any Series Accounts and (iv) amounts owed or to be distributed under the Transaction Documents and the other Series Related Documents to the Certificateholders on the termination of the Trust will be deposited into the Certificate Distribution Account and subsequently will be distributed to the Certificateholders in the following order of priority: (1) first, to the Class B Certificate, until the Class B Certificate Principal Balance has been reduced to zero; and (2) second, to the Class A Certificate, any remaining amounts. On each Payment Date, the Owner Trustee shall deliver to the Certificateholders, upon request and within a reasonable time after such request is made, a copy of the Monthly Investor Report provided to the Owner Trustee by the Servicer pursuant to Section 3.5(a) of the Transfer and Servicing Agreement with respect to such Payment Date. The Owner Trustee may satisfy this requirement by posting the Monthly Investor Report to the Owner Trustee website at xxx.xxxxxxxxxxxxxxxxxxxxxx.xxx. Distributions required to be made to Certificateholders on any Payment Date shall be made to each Certificateholder of record on the related Record Date either by check mailed to such Certificateholder at the address of such holder appearing in the Trust Register or by wire transfer, in immediately available funds, to the account specified to the Certificate Paying Agent in writing of any Certificateholder at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided to the Trust Registrar appropriate written instructions at least five (5) Business Days prior to such Payment Date.

Distributions Under Trust Financing Agreements; Method of Payment. Before the satisfaction and discharge of the Master Collateral Agreement, all distributions of Trust Property will be allocated in accordance with Section 9.4 of the Master Collateral Agreement and will be distributed on each Payment Date to the Certificateholders pursuant to the priorities listed below. In addition, on each Payment Date, (i) amounts equal to the Transferor’s Allocation on any Payment Date, (ii) amounts not needed on a Payment Date, or any other date specified in the related Series Related Documents, to pay the Credit Extensions and the Trust’s other obligations under the Transaction Documents and any other Series Related Documents to the extent specified in the related Trust Financing Agreement for a Series, (iii) investment earnings on amounts held in the Collection Account or any Series Servies Accounts and (iviviii) amounts owed or to be distributed under the Transaction Documents and the other Series Related Documents to the Certificateholders on the termination of the Trust will be deposited into the Certificate Distribution Account and subsequently will be distributed to the Certificateholders in the following order of priority: (1) first, to the Class B Certificate, until the Class B Certificate Principal Balance has been reduced to zero; and (2) second, to the Class A Certificate, any remaining amounts. On In addition, on or prior to one (1) Business Day following each Payment Date, with respect to any Series, investment earnings on amounts held in any Series Accounts that have been deposited into the Owner Trustee Certificate Distribution Account shall deliver be transferred to the Certificateholders, upon request and within a reasonable time after Series Certificate Distribution Account related to the Series to which such request is made, a copy of Series Accounts relate in accordance with instructions provided by the Monthly Investor Report provided Servicer to the Owner Trustee by (which may be based on the Servicer pursuant to Section 3.5(ainformation included in the most recent Monthly Investor Report) of (the Transfer and Servicing Agreement with respect to such “Transferred Earnings”) at least two (2) Business Days before the related Payment Date. The Owner Trustee may satisfy this requirement by posting shall be entitled to conclusively and exclusively rely upon such instructions without further inquiry when dealing with the Monthly Investor Report Transferred Earnings. With respect to any Series, (x) amounts, if any, distributed to the Owner Trustee website at xxx.xxxxxxxxxxxxxxxxxxxxxx.xxx. Distributions required to be made to Certificateholders Equityholder or in respect of the Certificates or any Class R Interest for such Series on any Payment Date shall be made to each Certificateholder of record and (y) amounts not needed on a Payment Date, or any other date specified in the related Record Date either by check mailed Series Related Documents, to such Certificateholder at pay the address of such holder appearing in Credit Extensions and the Trust Register or by wire transferTrust’s other obligations under the Transaction Documents and any other Series Related Documents, in immediately available fundseach case, to the account extent specified in the related Trust Financing Agreement for a Series, will be deposited into the applicable Series Certificate Distribution Account by the applicable Paying Agent. On (i) each Payment Date, with respect to any Series, amounts, if any, deposited into the applicable Series Certificate Distribution Account pursuant to the Certificate Paying Agent in writing of any Certificateholder at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided to the Trust Registrar appropriate written instructions at least five (5) Business Days prior immediately preceding sentence with respect to such Payment Date.Date and (ii) or prior to one (1) Business Day following each Payment Date all investment earnings on amounts held in any Series Accounts, including all Transferred Earnings held in the related Series Certificate Distribution Account, will be distributed to the Certificateholders in the following order of priority:

Distributions Under Trust Financing Agreements; Method of Payment. Before the satisfaction and discharge of the Master Collateral Agreement, all distributions of Trust Property will be allocated in accordance with Section 9.4 of the Master Collateral Agreement and will be distributed on each Payment Date to the Certificateholders pursuant to the priorities listed below. In addition, on each Payment Date, (i) amounts equal to the Transferor’s Allocation on any Payment Date, (ii) amounts not needed on a Payment Date, or any other date specified in the related Series Related Documents, to pay the Credit Extensions and the Trust’s other obligations under the Transaction Documents and any other Series Related Documents to the extent specified in the related Trust Financing Agreement for a Series, (iii) investment earnings on amounts held in the Collection Account or any Series Accounts and (iviii) amounts owed or to be distributed under the Transaction Documents and the other Series Related Documents to the Certificateholders on the termination of the Trust will be deposited into the Certificate Distribution Account and subsequently will be distributed to the Certificateholders in the following order of priority: (1) first, to the Class B Certificate, until the Class B Certificate Principal Balance has been reduced to zero; and (2) second, to the Class A Certificate, any remaining amounts. On each Payment Date, the Owner Trustee shall deliver to the Certificateholders, upon request and within a reasonable time after such request is made, Certificateholders a copy of the Monthly Investor Report provided to the Owner Trustee by the Servicer pursuant to Section 3.5(a) of the Transfer and Servicing Agreement with respect to such Payment Date. The Owner Trustee may satisfy this requirement by posting the Monthly Investor Report will be posted to the Owner Trustee website at xxx.xxxxxxxxxxxxxxxxxxxxxx.xxx[___]. Distributions required to be made to Certificateholders on any Payment Date shall be made to each Certificateholder of record on the related Record Date either by check mailed to such Certificateholder at the address of such holder appearing in the Trust Register or by wire transfer, in immediately available funds, to the account specified to the Certificate Paying Agent in writing of any Certificateholder at a bank or other entity having appropriate facilities therefor, if such Certificateholder shall have provided to the Trust Registrar appropriate written instructions at least five (5) Business Days prior to such Payment Date.