Common use of Negative Carry Account Clause in Contracts

Negative Carry Account. On the Closing Date, the Seller shall deposit the Negative Carry Account Initial Deposit into the Negative Carry Account. On each Payment Date, the Servicer shall instruct the Indenture Trustee to withdraw from the Negative Carry Account and deposit into the Collection Account an amount equal to the lesser of (x) the amount, if any, on deposit in the Negative Carry Account on such Payment Date and (y) the Negative Carry Amount, if any, for such Payment Date. If the amount on deposit in the Negative Carry Account on any Payment Date (after giving effect to the withdrawal therefrom of the Negative Carry Amount, if any, for such Payment Date) is greater than the Required Negative Carry Account Balance for such Payment Date, the excess shall be released to the Seller on such Payment Date. On the Payment Date on which the Pre-Funding Period ends (or, if the Pre-Funding Period does not end on a Payment Date, on the first Payment Date following the end of the Pre-Funding Period), the Servicer shall instruct the Indenture Trustee to release to the Seller on such Payment Date all amounts remaining on deposit in the Negative Carry Account after giving effect to any withdrawals of the Negative Carry Amount on such Payment Date.

Negative Carry Account. On the Closing Date, the Seller shall deposit the Negative Carry Account Initial Deposit into the Negative Carry Account. On each Payment Date, the Servicer shall instruct the Indenture Trustee to withdraw from the Negative Carry Account and deposit into the Collection Account an amount equal to the lesser of (x) the amount, if any, on deposit in the Negative Carry Account on such Payment Date and (y) the Negative Carry Amount, if any, for such Payment Date. If the amount on deposit in the Negative Carry Account on any Payment Date (after giving effect to the withdrawal therefrom of the Negative Carry Amount, if any, for such Payment Date) is greater than the Required Negative Carry Account Balance for such Payment Date, the excess shall be released to the Seller on such Payment Date. On the Payment Date on which the Pre-Funding and Reinvestment Period ends (or, if the Pre-Funding and Reinvestment Period does not end on a Payment Date, on the first Payment Date following the end of the Pre-Funding and Reinvestment Period), the Servicer shall instruct the Indenture Trustee to release to the Seller on such Payment Date all amounts remaining on deposit in the Negative Carry Account after giving effect to any withdrawals of the Negative Carry Amount on such Payment Date.

Negative Carry Account. On the Closing Date, the Seller shall deposit the Negative Carry Account Initial Deposit into the Negative Carry Account. On each Payment Date, the Servicer shall instruct the Indenture Trustee to withdraw from the Negative Carry Account and deposit into the Collection Account an amount equal to the lesser of (x) the amount, if any, on deposit in the Negative Carry Account on such Payment Date and (y) the Negative Carry Amount, if any, for such Payment Date. If the amount on deposit in the Negative Carry Account on any Payment Date (after giving effect to the withdrawal therefrom of the Negative Carry Amount, if any, for such Payment Date) is greater than the Required Negative Carry Account Balance for such Payment Date, the excess shall be released to the Seller on such Payment Date. On the Payment Date on which the Pre-Funding Period ends (or, if the Pre-Funding Period does not end on a Payment Date, on the first Payment Date following the end of the Pre-Funding Period), the Servicer shall instruct the Indenture Trustee to release to the Seller on such Payment Date all amounts remaining on deposit in the Negative Carry Account after giving effect to any withdrawals of the Negative Carry Amount on such Payment Date.. SECTION 4.10

Negative Carry Account. On the Closing Date, the Seller shall deposit the Negative Carry Account Initial Deposit into the Negative Carry Account. On each Payment Date, the Servicer shall instruct the Indenture Trustee to withdraw from the Negative Carry Account and deposit into the Collection Account an amount equal to the lesser of (x) the amount, if any, on deposit in the Negative Carry Account on such Payment Date and (y) the Negative Carry Amount, if any, for such Payment Datethe related Collection Period. If the amount on deposit in the Negative Carry Account on any Payment Date (after giving effect to the withdrawal therefrom of the Negative Carry Amount, if any, for such Payment Date) is greater than the Required Negative Carry Account Balance for such Payment Date, the excess shall be released to the Seller on such Payment Date. On the Payment Date on which the Pre-Funding Period ends (or, if the Pre-Funding Period does not end on a Payment Date, on the first Payment Date following the end of the Pre-Funding Period), the Servicer shall instruct the Indenture Trustee to release to the Seller on such Payment Date all amounts remaining on deposit in the Negative Carry Account after giving effect to any withdrawals of the Negative Carry Amount on such Payment Date.. SECTION 4.10