Common use of Finance Charge Collections Clause in Contracts

Finance Charge Collections. On each Settlement Date (other than a Special Settlement Date) funds on deposit in the Concentration Account representing Finance Charge Collections in respect of the preceding Settlement Period shall be distributed by the Managing Facility Agent as follows, to the extent of funds available therefor: (i) first, to the Servicer as payment of the Servicing Fee for the preceding Settlement Period; (ii) second, to the Purchasers pro rata as payment of all interest due pursuant to subsection 2.17(a) and (c) for the preceding Accrual Period; (iii) third, to the Managing Facility Agent and each Purchaser which has made a demand prior to the Reporting Date preceding such Settlement Date, to costs payable pursuant to subsections 2.22, 2.23, 2.24 and 11.5; (iv) fourth, to the Purchasers pro rata as payment of the Commitment Fees for the preceding Accrual Period pursuant to subsection 2.17(d) and second, to the Managing Facility Agent as payment of the fees referred to in subsection 2.17(e) to the extent such fees have not been paid directly by the Seller; (v) fifth, if a Rating Event has occurred and is continuing, to the extent of funds available therefor, to the Managing Facility Agent for deposit into the Cash Collateral Account an amount equal to Finance Charges on those Wholesale Receivables which are Quarterly Receivables which Finance Charges have accrued during the preceding Settlement Period and are payable under the related Contract on a subsequent Settlement Date; and (vi) sixth, any remaining Finance Charge Collections (such remainder, "Excess Spread") shall be distributed as follows: (1) so long as no Trigger Amortization Event has occurred and is continuing, to the Seller or its designees and (2) in all other cases, 100% thereof shall be paid to the Purchasers pro rata as payment in respect of the Outstanding Purchase Price.

Finance Charge Collections. On each Settlement Date (other -------------------------- than a Special Settlement Date) funds on deposit in the Concentration Account representing Finance Charge Collections in respect of the preceding Settlement Period shall be distributed by the Managing Facility Agent as follows, to the extent of funds available therefor: (i) first, to the Servicer as payment of the ----- Servicing Fee for the preceding Settlement Period; (ii) second, to the Purchasers pro rata as payment of ------ --- ---- all interest due pursuant to subsection 2.17(a) and (c) for the preceding Accrual Period; (iii) third, to the Managing Facility Agent and each ----- Purchaser which has made a demand prior to the Reporting Date preceding such Settlement Date, to costs payable pursuant to subsections 2.22, 2.23, 2.24 and 11.5; (iv) fourth, to the Purchasers pro rata as payment of ------ the Commitment Fees for the preceding Accrual Period pursuant to subsection 2.17(d) and second, to the Managing Facility ------ Agent as payment of the fees referred to in subsection 2.17(e) to the extent such fees have not been paid directly by the Seller; (v) fifth, if a Rating Event has occurred and is ----- continuing, to the extent of funds available therefor, to the Managing Facility Agent for deposit into the Cash Collateral Account an amount equal to Finance Charges on those Wholesale Receivables which are Quarterly Receivables which Finance Charges have accrued during the preceding Settlement Period and are payable under the related Contract on a subsequent Settlement Date; and (vi) sixth, any remaining Finance Charge Collections ----- (such remainder, "Excess Spread") shall be distributed as ------------- follows: (1) so long as no Trigger Amortization Event has occurred and is continuing, to the Seller or its designees and (2) in all other cases, 100% thereof shall be paid to the Purchasers pro rata as payment in respect of the Outstanding Purchase Price.

Finance Charge Collections. On each Settlement Date (other than a Special Settlement Date) funds on deposit in the Concentration Account representing Finance Charge Collections in respect of the preceding Settlement Period shall be distributed by the Managing Facility Agent as follows, to the extent of funds available therefor: (i) first, to the Servicer as payment of the Servicing Fee for the preceding Settlement Period; (ii) second, to the Purchasers pro rata as payment of all interest due pursuant to subsection 2.17(a) and (c) for the preceding Accrual Period; (iii) third, to the Managing Facility Agent and each Purchaser which has made a demand prior to the Reporting Date preceding such Settlement Date, to costs payable pursuant to subsections 2.22, 2.23, 2.24 and 11.5; (iv) fourth, to the Purchasers pro rata as payment of the Commitment Fees for the preceding Accrual Period pursuant to subsection 2.17(d) and second, to the Managing Facility Agent as payment of the fees referred to in subsection 2.17(e) to the extent such fees have not been paid directly by the Seller; (v) fifth, if a Rating Event has occurred and is continuing, to the extent of funds available therefor, to the Managing Facility Agent for deposit into the Cash Collateral Account an amount equal to Finance Charges on those Wholesale Receivables which are Quarterly Receivables which Finance Charges have accrued during the preceding Settlement Period and are payable under the related Contract on a subsequent Settlement Date; and (vi) sixth, any remaining Finance Charge Collections (such remainder, "Excess Spread") shall be distributed as follows: (1) so long as no Trigger Amortization Event has occurred and is continuing, to the Seller or its designees and (2) in all other cases, 100% thereof shall be paid to the Purchasers pro rata as payment in respect of the Outstanding Purchase Price.