Flow of Funds Sample Clauses
Flow of Funds. (i) The Trustee shall deposit in the Certificate Account without duplication, upon receipt, with respect to Group I, the proceeds of any liquidation of the assets of the Trust insofar as such assets relate to Group I, all remittances made to the Trustee pursuant to Sections 8.08(e), 8.09 and 8.10 with respect to Group I and the Group I Monthly Remittance Amount remitted by the Servicer.
(ii) The Trustee shall deposit in the Certificate Account without duplication, upon receipt, with respect to Group II, the proceeds of any liquidation of the assets of the Trust insofar as such assets relate to Group II, all remittances made to the Trustee pursuant to Sections 8.08(e), 8.09 and 8.10 with respect to Group II and the Group II Monthly Remittance Amount remitted by the Servicer.
(b) On each Distribution Date, the Trustee shall make the following allocations, disbursements and transfers (based solely on information provided by the Servicer in writing), from amounts deposited in the Certificate Account pursuant to subsection (a) in the following order of priority, and each such allocation, transfer and disbursement shall be treated as having occurred only after all preceding allocations:
A. With respect to amounts in the Certificate Account received with respect to Group I:
1. To the Trustee, the Trustee Fee and any Transition Expenses for Group I.
2. Concurrently, to each Class of Group I Certificates, the related Class Monthly Interest Amount and any related Class Interest Carryover Shortfall for the Distribution Date, allocated among each such Class of Group I Certificates on a pro rata basis based on each Group I Certificate’s Class Monthly Interest Amount and Class Interest Carryover Shortfall without priority among such Group I Certificates.
3. The remaining amount pursuant to clause C. below.
B. With respect to amounts in the Certificate Account received with respect to Group II:
1. To the Trustee, the Trustee Fee and any Transition Expenses for Group II.
2. Concurrently, to each Class of Group II Certificates, the related Class Monthly Interest Amount and any related Class Interest Carryover Shortfall for the Distribution Date, allocated among each such Class of Group II Certificates on a pro rata basis based on each Group II Certificate’s Class Monthly Interest Amount and Class Interest Carryover Shortfall without priority among such Group II Certificates.
3. The remaining amount pursuant to clause C. below.
C. With respect to any remaining amounts in th...
Flow of Funds. Section 4.01.
Flow of Funds. On each Payment Date, after giving effect to (i) Borrowings on such day and the disbursements of the proceeds of such Borrowings, (ii) the purchase of Receivables and the payment of the Purchase Price for Receivables transferred pursuant hereto as reflected in the Amended and Restated Schedule of Receivables delivered on such day and (iii) any purchases or repurchases of Receivables by the Seller or Servicer pursuant to the terms hereof on such day and the payment of the Loan Purchase Price therefor, the Indenture Trustee shall withdraw Available Funds from the Note Account and make the following allocations or disbursements from such Available Funds in the following order of priority, and each such disbursement shall be treated as having occurred only after all preceding allocations or disbursements have occurred:
(i) First, to the Backup Servicer, the Backup Servicing Fee then due, and to the Owner Trustee, the Indenture Trustee and the Custodian, the related accrued and unpaid fees then due, and, to the Owner Trustee, the Indenture Trustee and the Custodian, in an amount not to exceed $500,000 in any calendar year, for the reimbursement of the accrued and unpaid expenses of, and, to the extent not paid by the Seller or the Servicer, amounts due under indemnification provisions to, the Owner Trustee, the Indenture Trustee and Custodian incurred in connection with their duties and obligations under the Operative Documents;
(ii) Second, to the Servicer, if not OSHC or an Affiliate of OSHC, the Servicing Fee;
(iii) Third, for distribution pursuant to the Indenture, the Class A Current Interest;
(iv) Fourth, for distribution pursuant to the Indenture, (a) if no Event of Default shall have occurred and be continuing, the principal amount of Class A Notes which are required to be repaid to prevent the existence of a Borrowing Base Deficiency after giving effect to all distributions under this Section 3.2 on such Payment Date and (b) if an Event of Default shall have occurred and be continuing, the lesser of the Class A Note Principal Balance and the Available Funds remaining after giving effect to all prior distributions under this Section 3.2 on such Payment Date;
(v) Fifth, for distribution pursuant to the Indenture, any other amounts then due and payable to the Owners of the Class A Notes under this Agreement, any Class A Note or the Note Purchase Agreement;
(vi) Sixth, after the Final Addition Date, for distribution pursuant to the Indenture, the Class A N...
Flow of Funds. (a) The Trustee shall deposit to the Certificate Account, without duplication, upon receipt, any Insured Payments, the proceeds of any liquidation of the assets of the Trust, all remittances made to the Trustee pursuant to Section 8.08(d)(ii) and the Monthly Remittance Amount remitted by the Servicer.
(b) On each Payment Date, the Monthly Remittance Amount which is then on deposit in the Certificate Account (such amount, the "Available Funds") will be applied in the following order of priority:
(i) First, for the payment of certain fees, concurrently, to the Trustee, the Trustee Fee and to the Certificate Insurer, the Premium Amount;
(ii) Second, for the payment of the Class A Certificate interest, to the extent of the Available Funds then remaining in the Certificate Account, plus the interest component of any related Insured Payment, (such amount, the "Interest Amount Available"), to the Owners of the Class A Certificates, the related Current Interest plus the Interest Carry Forward Amount with respect to the Class A Certificates without any priority among such Class A Certificates;
(iii) Third, for the payment of the Class B Certificate interest, to the extent of the Available Funds then remaining in the Certificate Account, to the Owners of the Class B Certificates an amount equal to the Current Interest for such Class B Certificates without any priority among such Class B Certificates;
(iv) Fourth, for the payment of the Reimbursement Amount, if any, then due to the Certificate Insurer, to the extent of the Available Funds then remaining in the Certificate Account the lesser of (x) the Reimbursement Amount then owed to the Certificate Insurer and (y) the Maximum Certificate Insurer Current Reimbursement Amount with respect to such Payment Date;
(v) Fifth, for the payment of the Class A Certificate principal, to the extent of the Available Funds then remaining in the Certificate Account, to the Owners of the Class A Certificates, an amount necessary to reduce the Class A Certificate Principal Balance to the Class A Optimal Balance for such Payment Date;
(vi) Sixth, for the payment of Class B Certificate principal, to the extent of the Available Funds then remaining in the Certificate Account to the Owners of the Class B Certificates, an amount necessary to reduce the Class B Certificate Principal Balance of the Class B Certificates to the Class B Optimal Balance for such Payment Date;
(vii) Seventh, to fund the Interest Carry Forward Amount, if any, wi...
Flow of Funds. 76 Section 7.04 Reserved.................................................. 81 Section 7.05
Flow of Funds. SECTION 4.01 Distributions.
Flow of Funds. Receipt by the Administrative Agent of a sources and uses table and payment instructions with respect to each wire transfer to be made by the Administrative Agent on behalf of the Lenders or the Borrower on the Closing Date setting forth the amount of such transfer, the purpose of such transfer, the name and number of the account to which such transfer is to be made, the name and ABA number of the bank or other financial institution where such account is located and the name and telephone number of an individual that can be contacted to confirm receipt of such transfer.
Flow of Funds. 68 Section 7.04 Pre-Funding Account and Capitalized Interest Account.............................72 Section 7.05
Flow of Funds. 102 Section 4.01 Distributions..............................................................................102 Section 4.02
Flow of Funds. 59 SECTION 8.8. Investment of Accounts.....................................................................61 SECTION 8.9. Eligible Investments.......................................................................62 SECTION 8.10. Reports by Indenture Trustee...............................................................63 SECTION 8.11. Additional Reports by Indenture Trustee....................................................66 SECTION 8.12.