Common use of Payment Date Transfers Upon the Occurrence of an Event of Default Clause in Contracts

Payment Date Transfers Upon the Occurrence of an Event of Default. On each Payment Date, if an Event of Default has occurred, or in any case on and after the Facility Maturity Date, the Servicer shall (as directed pursuant to the first paragraph of this Section 2.04) transfer collected funds held by the Bank in the Collection Account, in accordance with the Servicing Report, to the following Persons in the following amounts, calculated as of the Determination Date immediately preceding any Payment Date, and priority:

Payment Date Transfers Upon the Occurrence of an Event of Default. On each Payment Date, if an Event of Default has occurred, or in any case on and after the Facility Maturity Date, the Servicer shall (as directed pursuant to the first paragraph of this Section 2.04) transfer collected funds held by the Bank in the Collection Account, in accordance with the Servicing Report, to the following Persons in the following amounts, calculated as of the Determination Date immediately preceding any Payment Date, and priority:the

Payment Date Transfers Upon the Occurrence of an Event of Default. On each Payment Date, if an Event of Default has occurred, or in any case on and after the Facility Maturity Date, the Servicer shall (as directed pursuant to the first paragraph of this Section 2.04) transfer collected funds held by the Bank in the Collection Account, in accordance with the USActive 52762757.1552762757.22 56 Servicing Report, to the following Persons in the following amounts, calculated as of the Determination Date immediately preceding any Payment Date, and priority:

Payment Date Transfers Upon the Occurrence of an Event of Default. On each Payment Date, if If an Event of Default has occurredoccurred or, in any case, after the declaration, or in any case on and after automatic occurrence, of the Facility Maturity Date, the Servicer shall (as directed pursuant shall, and if the Servicer fails to do so the first paragraph of this Section 2.04) Agent may, on each Payment Date, direct the Trustee to transfer collected funds held by the Bank in the Collection AccountAccount which were received in the immediately prior Remittance Period, in accordance with the Servicing Report, to the following Persons in the following amounts, calculated as of the Determination Date immediately preceding any Payment Date, amounts and priority:

Payment Date Transfers Upon the Occurrence of an Event of Default. On each Payment Date, if If an Event of Default has occurredoccurred or, in any case, after the declaration, or in any case on and after automatic occurrence, of the Facility Maturity Date, the Servicer shall (as directed pursuant shall, and if the Servicer fails to do so the first paragraph of this Section 2.04) Agent may, on each Payment Date, direct the Trustee to transfer collected funds held by the Bank in the Collection Account, in accordance with the Servicing Report, to the following Persons in the following amounts, calculated as of the Determination Date immediately preceding any Payment Date, amounts and priority: