Common use of Loans Subject to Retained Interest Provisions Clause in Contracts

Loans Subject to Retained Interest Provisions. (a) With respect to any Loan included in the Collateral subject to the Retained Interest provisions of this Agreement, the Seller will own only the principal portion of such Loans outstanding as of the applicable Cut-Off Date. Principal Collections received by the Seller or the Servicer on any Revolving Loans will be allocated first to the portion of such Revolving Loan owned by the Seller, until the principal amount of such portion is reduced to zero, and then to the portion not owned by the Seller; provided, however, if (i) a payment default occurs with respect to any of the related Loans, (ii) a Liquidity Factor Reduction Event occurs and continues, (iii) the Originator has determined in its sole discretion that an Obligor’s credit has deteriorated or the Originator has determined in its sole discretion to reduce its commitment to an Obligor, or (iv) an Allocation Adjustment Event occurs, then Principal Collections received on (x) the applicable Loan (in the case of clauses (i) or (iii) above or during the time that a Liquidity Factor Reduction Event exists and continues in the case of clause (ii) above) or (y) all the Revolving Loans (in the case of clause (iv) above) will be allocated between the portion owned by the Seller and the portion not owned by the Seller, pro rata based upon the outstanding principal amount of each such portion. (b) With respect to any Term Loans included in the Collateral subject to the Retained Interest provisions of this Agreement, Principal Collections and Interest Collections received by the Servicer will be allocated between the portion owned by the Seller and to the portion not owned by the Seller (if any) on a pro rata basis according to the outstanding principal amount of such portion.

Loans Subject to Retained Interest Provisions. (a) With respect to any Loan included in the Collateral Assets subject to the Retained Interest provisions of this Agreement, the Seller will own only the principal portion of such Loans outstanding as of the applicable Cut-Off Date. Principal Collections received by the Seller or the Servicer on any Revolving Loans will be allocated first to the portion of such Revolving Loan owned by the Seller, until the principal amount of such portion is reduced to zero, and then to the portion not owned by the Seller; provided, however, if (i) a payment default occurs with respect to any of the related Loans, (ii) a Liquidity Factor Reduction Event occurs and continues, (iii) the Originator has determined in its sole discretion that an Obligor’s credit has deteriorated or (iii) the Originator has determined in its sole discretion to reduce its commitment to an Obligor, or (iv) an Allocation Adjustment Event occurs, then Principal Collections received on (x) the applicable Loan (in the case of clauses (i) or (iii) above or during the time that a Liquidity Factor Reduction Event exists and continues in the case of clause (ii) above) or (y) all the Revolving Loans (in the case of clause (iv) above) will be allocated between the portion owned by the Seller and the portion not owned by the Seller, Seller pro rata based upon the outstanding principal amount of each such portion. (b) With respect to any Term Loans Loan included in the Collateral Asset Pool subject to the Retained Interest provisions of this Agreement, Principal Collections and Interest Collections received by the Servicer on those Loans will be allocated between the portion owned by the Seller and to the portion not owned by the Seller (if any) on a pro rata basis according to based upon the outstanding principal amount of each such portion.

Loans Subject to Retained Interest Provisions. (a) With respect to any Loan included in the Collateral Assets subject to the Retained Interest provisions of this Agreement, the Seller will own only the principal portion of such Loans outstanding as of the applicable Cut-Off Date. Principal Collections received by the Seller or the Servicer on any Revolving Loans will be allocated first to the portion of such Revolving Loan owned by the Seller, until the principal amount of such portion is reduced to zero, and then to the portion not owned by the Seller; provided, however, if (i) a payment default occurs with respect to any of the related Loans, Loans or (ii) a Liquidity Factor Reduction Event occurs and continues, (iii) the Originator has determined in its sole discretion that an Obligor’s 's credit has deteriorated or the Originator has determined in its sole discretion to reduce its commitment to an Obligor, or (iv) an Allocation Adjustment Event occurs, then Principal Collections received on (x) the applicable Loan (in the case of clauses (i) or (iii) above or during the time that a Liquidity Factor Reduction Event exists and continues in the case of clause (ii) above) or (y) all the Revolving Loans (in the case of clause (iv) above) will be allocated between the portion owned by the Seller and the portion not owned by the Seller, pro rata based upon the outstanding principal amount of each such portion. (b) With respect to any Term Loans included in the Collateral Assets subject to the Retained Interest provisions of this Agreement, Principal Collections and Interest Collections received by the Servicer will be allocated between the portion owned by the Seller and to the portion not 116 owned by the Seller (if any) on a pro rata basis according to the outstanding principal amount of such portion.

Loans Subject to Retained Interest Provisions. (a) With respect to any Loan included in the Collateral subject to the Retained Interest provisions of this Agreement, the Seller will own only the principal Agreement such that a portion of such Loans outstanding as of the applicable Cut-Off Date. Loan is owned by one or more third parties, Principal Collections received by the Seller Borrower or the Servicer on any Revolving Loans such Loan will be allocated first to the portion of such Revolving Loan owned by the SellerBorrower, until the principal amount of such portion is reduced to zero, and then to the portion not owned by the SellerBorrower; provided, however, provided that if (i) a payment default occurs with respect to any of the related Loans, (ii) a Liquidity Factor Reduction Event occurs and continues, (iii) the Originator has determined in its sole discretion that an Obligor’s credit has deteriorated or the Originator has determined in its sole discretion to reduce its commitment to an Obligor, or (iv) an Allocation Adjustment Event occurssuch Loan, then Principal Collections received on (x) the applicable such Loan (in the case of clauses (i) or (iii) above or during the time that a Liquidity Factor Reduction Event exists and continues in the case of clause (ii) above) or (y) all the Revolving Loans (in the case of clause (iv) above) will be allocated between the portion owned by the Seller Borrower and the portion not owned by the Seller, Borrower pro rata based upon the outstanding principal amount of each such portion. (b) With respect to any Term Loans Loan included in the Collateral subject to the Retained Interest provisions of this Agreement, Principal Collections and Interest Collections received by the Servicer on those Loans will be allocated between the portion owned by the Seller Borrower and to the portion not owned by the Seller (if any) on a Borrower pro rata basis according to based upon the outstanding principal amount of each such portion.

Loans Subject to Retained Interest Provisions. (a) With respect to any Loan included in the Collateral subject to the Retained Interest provisions of this Agreement, the Seller Borrower will own only the principal portion of such Loans outstanding as of the applicable Cut-Off Date. Principal Collections received by the Seller Borrower or the Servicer on any Revolving Loans will be allocated first to the portion of such Revolving Loan owned by the SellerBorrower, until the principal amount of such portion is reduced to zero, and then to the portion not owned by the SellerBorrower; provided, however, if (i) a payment default occurs with respect to any of the related Loans, (ii) a Liquidity Factor Reduction Event occurs and continues, (iii) the Originator has determined in its sole discretion that an Obligor’s credit has deteriorated or the Originator has determined in its sole discretion to reduce its commitment to an Obligor, or (iv) an Allocation Adjustment Event occurs, then Principal Collections received on (x) the applicable Loan (in the case of clauses (i) or (iii) above or during the time that a Liquidity Factor Reduction Event exists and continues in the case of clause (ii) above) or (y) all the Revolving Loans (in the case of clause (iv) above) will be allocated between the portion owned by the Seller Borrower and the portion not owned by the SellerBorrower, pro rata based upon the outstanding principal amount of each such portion. (b) With respect to any Term Loans Loan included in the Collateral subject to the Retained Interest provisions of this Agreement, Principal Collections and Interest Collections received by the Servicer on those Loans will be allocated between the portion owned by the Seller Borrower and to the portion not owned by the Seller (if any) on a Borrower pro rata basis according to based upon the outstanding principal amount of each such portion. (c) With respect to any Revolving Loan included in the Collateral, the Borrower may, from time to time, request Advances with respect thereto up to the principal amount of such Revolving Loan as of the applicable Cut-Off Date, subject to the terms and conditions of this Agreement.

Loans Subject to Retained Interest Provisions. (a) With respect to any Loan included in the Collateral subject to the Retained Interest provisions of this Agreement, the Seller will own only the principal portion of such Loans outstanding as of the applicable Cut-Off Date. Principal Collections received by the Seller or the Servicer on any Revolving Loans will be allocated first to the portion of such Revolving Loan owned by the Seller, until the principal amount of such portion is reduced to zero, and then to the portion not owned by the Seller; provided, however, provided that if (i) a payment default occurs with respect to any of the related Loans, (ii) a Liquidity Factor Reduction Event occurs and continues, (iii) the Originator has determined in its sole discretion that an Obligor’s credit has deteriorated or the Originator has determined in its sole discretion to reduce its commitment to an Obligor, or (iv) an Allocation Adjustment Event occurs, then Principal Collections received on (x) the applicable Loan (in the case of clauses (i) or (iii) above or during the time that a Liquidity Factor Reduction Event exists and continues in the case of clause (ii) above) or (y) all the Revolving Loans (in the case of clause (iv) above) will be allocated between the portion owned by the Seller and the portion not owned by the Seller, pro rata based upon the outstanding principal amount of each such portion. (b) With respect to any Term Loans included in the Collateral subject to the Retained Interest provisions of this Agreement, Principal Collections and Interest Collections received by the Servicer will be allocated between the portion owned by the Seller and to the portion not owned by the Seller (if any) on a pro rata basis according to the outstanding principal amount of such portion.

Loans Subject to Retained Interest Provisions. (a) With respect to any Loan included in the Collateral subject to the Retained Interest provisions of this Agreement, the Seller Borrower will own only the principal portion of such Loans outstanding as of the applicable Cut-Off Date. Principal Collections received by the Seller Borrower or the Servicer on any Revolving Loans will be allocated first to the portion of such Revolving Loan owned by the SellerBorrower, until the principal amount of such portion is reduced to zero, and then to the portion not owned by the SellerBorrower; provided, however, if (i) a payment default occurs with respect to any of the related Loans, (ii) a Liquidity Factor Reduction Event occurs and continues, (iii) the Originator has determined in its sole discretion that an Obligor’s credit has deteriorated or the Originator has determined in its sole discretion to reduce its commitment to an Obligor, or (iv) an Allocation Adjustment Event occurs, then Principal Collections received on (x) the applicable Loan (in the case of clauses (i) or (iii) above or during the time that a Liquidity Factor Reduction Event exists and continues in the case of clause (ii) above) or (y) all the Revolving Loans (in the case of clause (iv) above) will be allocated between the portion owned by the Seller Borrower and the portion not owned by the SellerBorrower, pro rata based upon the outstanding principal amount of each such portion. (b) With respect to any Term Loans Loan included in the Collateral subject to the Retained Interest provisions of this Agreement, Principal Collections and Interest Collections received by the Servicer on those Loans will be allocated between the portion owned by the Seller Borrower and to the portion not owned by the Seller (if any) on a Borrower pro rata basis according to based upon the outstanding principal amount of each such portion.