Common use of Payment of New Receivables Funding Amounts Clause in Contracts

Payment of New Receivables Funding Amounts. (i) Subject to its receipt of a duly executed Funding Certification from the Administrator pursuant to Section 4.3(a) stating that all Funding Conditions have been satisfied, the Indenture Trustee shall remit to the Issuer (or the Issuer’s designee), by the close of business Eastern Time on each Funding Date occurring at a time when not all Outstanding Notes are in Amortization Periods, the amount of the aggregate New Receivables Funding Amount for Additional Receivables to be funded on such Funding Date, using the following sources of funding the following order, (i) any funds on deposit in the Collection and Funding Account minus the Required Expense Reserve, (ii) Available Funds allocated for such purpose pursuant to Section 4.5(a)(xv), and (iii) any amounts paid by VFN Holders in respect of such New Receivables Funding Amount as described in Section 4.3(b); provided that VFN Holders shall have no obligation to fund if, after such funding and after giving effect to Receivables to be purchased, a Principal Payment Condition would be in existence.

Payment of New Receivables Funding Amounts. (i) Subject to its receipt of a duly executed Funding Certification from the Administrator pursuant to Section 4.3(a) stating that all Funding Conditions have been satisfied, the Indenture Trustee shall remit to the Issuer (or the Issuer’s designee), by the close of business Eastern Time on each Funding Date occurring at a time when not all Outstanding Notes are in Amortization Periods, the amount of the aggregate New Receivables Funding Amount for Additional Receivables to be funded on such Funding Date, using the following sources of funding the following order, (i) any funds on deposit in the Collection and Funding Account minus the Required Expense Reserve, (ii) Available Funds allocated for such purpose pursuant to Section 4.5(a)(xv4.5(a)(xvi), and (iii) any amounts paid by VFN Holders in respect of such New Receivables Funding Amount as described in Section 4.3(b); provided that VFN Holders shall have no obligation to fund if, after such funding and after giving effect to Receivables to be purchased, a Principal Payment Condition would be in existence.