Common use of Order of Application of Collections on Settlement Dates Clause in Contracts

Order of Application of Collections on Settlement Dates. Upon receipt by the Administrative Agent, on behalf of the Lenders, on any Settlement Date of Collections, the Administrative Agent shall distribute them in the following order of priority: (i) to the Servicer, an amount equal to any accrued and unpaid Servicing Fees to the Servicer on such date; (ii) to the Lenders, pro rata, in payment of any accrued and unpaid Interest and Broken Funding Costs (if any) that are then due and owing on account of the Advances, including any previously accrued Interest on account of the Advances that was not paid on the applicable Settlement Date; (iii) to the Administrative Agent, all fees due and payable to the Administrative Agent on such date; (iv) to the Lenders, pro rata, in payment of all accrued and unpaid fees (if any) that are then due and owing to the Lenders; (v) to the Lenders, pro rata, in reduction of Aggregate Principal, (x) to the extent such reduction is required under Section 1.3 or Section 1.5 during the Revolving Period and (y) to the extent of remaining Collections during the Liquidation Period; (vi) to pay all other accrued and unpaid amounts owing to any of the Lenders or the Administrative Agent hereunder, pro rata among all such amounts; (vii) to pay all other accrued and unpaid amounts owing to the Servicer; and (viii) (x) during the Revolving Period, to the Borrower, free and clear of any interest of the Administrative Agent and the Lenders or (y) during or after the Liquidation Period, if the Aggregate Unpaids have been reduced to zero, to the Borrower, free and clear of any interest of the Administrative Agent and the Lenders.

Order of Application of Collections on Settlement Dates. (a) Upon receipt by the Administrative any Co-Agent, on behalf of the LendersPurchasers in its Group, on any Settlement Date of PURCHASER Collections, the Administrative such Co-Agent shall distribute apply them to the items specified in the following subclauses below, in the order of prioritypriority of such subclauses: (i) to the Servicer, an amount equal to any accrued and unpaid Servicing Fees to the Servicer on such date; (ii) to the LendersDiscount, pro rata, in payment of any accrued and unpaid Interest CP Costs and Broken Funding Fund Costs (if any) that are then due and owing on account of the Advancesowing, including any previously accrued Interest on account of the Advances that was Discount, CP Costs and Broken Funds Costs which were not paid on the applicable Settlement Date; (ii) to the accrued and unpaid Servicer Fee (if Servicer is not Seller or one of its Affiliates); (iii) to the Administrative AgentFacility Fee and the Program Fee accrued during such Settlement Period, all fees due plus any previously accrued Facility Fee and payable to the Administrative Agent Program Fee not paid on such datea prior Settlement Date; (iv) to the Lenders, pro rata, in payment of all accrued and unpaid fees (if any) that are then due and owing to the Lenders; (v) to the Lenders, pro rata, in reduction of Aggregate PrincipalCapital, (x) to the extent such reduction is required under Section 1.3 1.5 or Section 1.5 1.6 during the Revolving Period and (y) to the extent of remaining PURCHASER Collections during the Liquidation Period; (viv) to pay all other accrued and unpaid amounts owing to any of the Lenders Purchasers or the Administrative Agent Agents hereunder, pro rata among all such amounts; (viivi) to pay all other the accrued and unpaid amounts owing to the ServicerServicer Fee (if Servicer is Seller or its Affiliate); and (viii) (xvii) during the Revolving Period, to the Borroweruses and in the order specified in Section 1.4; and (b) Upon receipt by the LC Issuer on any Settlement Date of SELLER Collections, free the LC Issuer shall apply them to the items specified in the subclauses below, in the order of priority of such subclauses: (i) to any accrued and clear unpaid Interest that is then due and owing, including any previously accrued interest which were not paid on its applicable Settlement Date; (ii) to the LC Fees accrued during such Settlement Period, plus any previously accrued LC Fees not paid on a prior Settlement Date (it being understood that the LC Issuer may take up to two Business Days to distribute each Committed Purchaser’s share of any interest amounts applied to accrued LC Fees); (iii) to Cash-Collateralize LC Obligations in respect of Letters of Credit then outstanding, beginning with the Administrative Agent Letter of Credit with the earliest expiration date, to the extent required under Section 1.5 during the Revolving Period and to the Lenders or (y) extent of remaining SELLER Collections during or after the Liquidation Period, if ; and (iv) during the Aggregate Unpaids have been reduced to zeroRevolving Period, to the Borrower, free uses and clear of any interest of in the Administrative Agent and the Lendersorder specified in Section 1.4.

Order of Application of Collections on Settlement Dates. Upon receipt by the Administrative Agent, on behalf of the LendersPurchaser Parties, on any Settlement Date of Collections, the Administrative Agent shall distribute apply them in the following order of priority: (i) if any costs or expenses are due and owing to the ServicerAdministrative Agent or its representatives under Section 8.4 and have not been paid, an amount equal to any accrued and unpaid Servicing Fees to the Servicer on Administrative Agent or its designee in payment of such dateamounts; (ii) if such Settlement Date is also a Monthly Payment Date, to the LendersPurchasers, pro rata, in payment of any accrued and unpaid Interest and Broken Funding Costs (if any) Yield that are is then due and owing on account of the AdvancesOwnership Interest, including any previously accrued Interest Yield on account of the Advances Ownership Interest that was not paid on the applicable Settlement Monthly Payment Date; (iii) if such Settlement Date is also a Monthly Payment Date, (A) to the Administrative AgentPurchasers, pro rata, on account of the Unused Fee accrued during the Calculation Period (or portion thereof) then most recently ended, plus any previously accrued Unused Fee not paid on a prior Monthly Payment Date, and (B) to the L/C Issuer (or, if applicable, each Purchaser that has acquired a participation as provided in Section 1.6(e), apportioned based upon (1) the amount of such Purchaser’s payments to the L/C Issuer in respect its Percentage of any draw and (2) the time period from and including the day such payment was made to and excluding the day such amount was returned to such Purchaser by the L/C Issuer), all fees due and payable Interest accruing under Section 1.6(b) hereof, ratably in accordance with such amounts owed to the Administrative Agent on such dateparties; (iv) to the Lenders, pro rata, in payment of all accrued and unpaid fees (if any) that are then due and owing to the Lenders; (v) to the LendersPurchasers, pro rata, in reduction of Aggregate PrincipalCapital, (xA) to the extent such reduction is required under Section 1.3 or Section 1.5 1.7 during the Revolving Period and (yB) to the extent of remaining Collections during the Liquidation Period; (v) to the Purchasers, pro rata, to be applied to the payment of all outstanding Reimbursement Obligations, (vi) if the Facility Termination Date has occurred, to the L/C Issuer to Cash-Collateralize the Letter of Credit Obligations in an amount equal to 103% of the Aggregate Face Amount Outstanding, (vii) if such Settlement Date is also a Monthly Payment Date, to pay all other accrued and unpaid amounts owing to any of the Lenders or the Administrative Agent Purchaser Parties hereunder, pro rata and pari passu among all such amounts; (vii) to pay all other accrued and unpaid amounts owing to the Servicer; and (viii) (x) during the Revolving Period, to the BorrowerSeller, free and clear of any interest of the Administrative Agent and the Lenders Purchaser Parties, or (y) during or after the Liquidation Period, if the after reduction of any remaining Aggregate Unpaids have been reduced to zero, to the BorrowerSeller, free and clear of any interest of the Administrative Agent and the LendersPurchaser Parties.

Order of Application of Collections on Settlement Dates. Upon receipt by the Co-Agents (or, following the earlier to occur of the Dominion Date or the Liquidation Period, the Administrative Agent, on behalf of the Lenders), on any Settlement Date of Collections, the Co-Agent or the Administrative Agent Agent, as applicable, shall distribute them for application in the following order of priority: (i) : first, if such day is a Monthly Payment Date, to the Servicer, an amount equal to any accrued and unpaid Servicing Fees to the Servicer on such date; (ii) to the LendersPurchasers, pro rata, in payment of any accrued and unpaid Interest Yield, CP Costs and Broken Funding Costs (if any) that are Usage Fees then due and owing on account of their investments in the AdvancesReceivable Interests, including any previously accrued Interest on account of the Advances Yield, CP Costs or Usage Fees that was were not paid on the applicable Settlement prior Monthly Payment Date; (iii) ; second, if such day is a Monthly Payment Date, to the Administrative Agent, all fees due and payable to the Administrative Agent on such date; (iv) to the LendersPurchasers, pro rata, in payment of all any Unused Fees and Default Fees accrued during the Calculation Period (or portion thereof) then most recently ended, plus any previously accrued Unused Fees and unpaid fees (Default Fees not paid on a prior Monthly Payment Date; third, if any) that are then due and owing such day is a Capital Settlement Date, to the Lenders; (v) to the LendersPurchasers, pro rata, in reduction of Aggregate Principaltheir Capital, (xi) during the Revolving Period, solely to the extent such reduction is required under Section 1.3 or Section 1.5 during the Revolving Period 1.5, and (yii) to the extent of remaining Collections during the Liquidation Period; (vi) , until the Aggregate Capital is reduced to $0; fourth, if such day is a Monthly Payment Date, to pay all Broken Funding Costs and other accrued and unpaid amounts owing to any of the Lenders Purchasers, the Agents or the Administrative Agent Indemnified Parties hereunder, pro rata and pari passu among all such amounts; ; and fifth, (vii) to pay all other accrued and unpaid amounts owing to the Servicer; and (viii) (xi) during the Revolving Period, to the BorrowerSeller, free and clear of any interest of the Administrative Agent Agents and the Lenders Purchasers or (yii) during or after the Liquidation Period, if the Aggregate Unpaids have been reduced to zero, to the BorrowerSeller, free and clear of any interest of the Administrative Agent Agents and the LendersPurchasers.

Order of Application of Collections on Settlement Dates. Upon receipt by the Purchasers (or, following the Dominion Date, the Administrative Agent, on behalf of the Lenders), on any Settlement Date of Collections, the Purchasers or the Administrative Agent Agent, as applicable, shall distribute them for application in the following order of priority: (i) to : first, if such day is a Monthly Payment Date occurring after the ServicerDominion Date, an amount equal to any accrued and unpaid Servicing Fees to the Servicer on such date; (ii) in payment of its Servicing Fee to the Lendersextent not retained; second, if such day is a Monthly Payment Date occurring after the Amortization Date, to the Administrative Agent and the Purchasers, in payment of their out-of-pocket expenses in connection with the enforcement or protection of their rights in connection with this Agreement and the other Transaction Documents, to the extent reimbursable under Section 8.4 and not otherwise paid by Seller; third, if such day is a Monthly Payment Date, to the Purchasers, pro rata, in payment of any accrued and unpaid Interest and Broken Funding Costs (if any) that are Yield then due and owing on account of their investments in the AdvancesReceivable Interests, including any previously accrued Interest on account of the Advances Yield that was not paid on the applicable Settlement prior Monthly Payment Date; (iii) ; fourth, if such day is a Monthly Payment Date, to the Administrative Agent, all fees due and payable to the Administrative Agent on such date; (iv) to the LendersPurchasers, pro rata, in payment of all any Fees accrued and unpaid fees during the Calculation Period (or portion thereof) then most recently ended, plus any previously accrued Fees not paid on a prior Monthly Payment Date; fifth, if any) that are then due and owing such day is a Capital Settlement Date, to the Lenders; (v) to the LendersPurchasers, pro rata, in reduction of Aggregate Principaltheir Capital, (xi) during the Revolving Period, solely to the extent such reduction is required under Section 1.3 or Section 1.5 during the Revolving Period 1.5, and (yii) to the extent of remaining Collections during the Liquidation Period; , until Aggregate Capital is reduced to $0; and sixth, (vi) to pay all other accrued and unpaid amounts owing to any of the Lenders or the Administrative Agent hereunder, pro rata among all such amounts; (vii) to pay all other accrued and unpaid amounts owing to the Servicer; and (viii) (xi) during the Revolving Period, to the BorrowerSeller, free and clear of any interest of the Administrative Agent and the Lenders Purchasers or (yii) during or after the Liquidation Period, if the Aggregate Unpaids have been reduced to zero, to the BorrowerSeller, free and clear of any interest of the Administrative Agent and the LendersPurchasers.