Common use of Payments and Collections Clause in Contracts

Payments and Collections. 3 Section 2.1. Payments............................................................. 3 Section 2.2. Collections Prior to Amortization.................................... 3 Section 2.3. Collections Following Amortization................................... 5 Section 2.4. Application of Collections........................................... 5 Section 2.5. Payment Rescission................................................... 6 Section 2.6. Maximum Purchaser Interests.......................................... 6 Section 2.7. Clean Up Call........................................................ 6

Payments and Collections. 3 4 Section 2.1. 2.1 Payments............................................................. 3 .......................................................4 Section 2.2. 2.2 Collections Prior to Amortization.................................... 3 ..............................5 Section 2.3. 2.3 Collections Following Amortization................................... .............................5 Section 2.4. 2.4 Application of Collections........................................... .....................................5 Section 2.5. 2.5 Payment Rescission................................................... .............................................6 Section 2.6. 2.6 Maximum Purchaser Receivable Interests.......................................... ...................................6 Section 2.7. 2.7 Clean Up Call........................................................ ..................................................6

Payments and Collections. 3 4 Section 2.1. 2.1 Payments............................................................. 3 ........................................................4 Section 2.2. 2.2 Collections Prior to Amortization.................................... 3 ...............................5 Section 2.3. 2.3 Collections Following Amortization................................... 5 ..............................6 Section 2.4. 2.4 Application of Collections........................................... 5 ......................................6 Section 2.5. Payment Rescission................................................... 6 Section 2.6. Maximum Purchaser Interests.......................................... 6 Section 2.7. Clean Up Call........................................................ 6

Payments and Collections. 3 Section 2.1. 2.1 Payments............................................................. ............................................ 3 Section 2.2. 2.2 Collections Prior to Amortization.................................... ................... 3 Section 2.3. 2.3 Collections Following Amortization.................. 4 Section 2.4 Application of Collections.......................... 4 Section 2.5 Payment Recission................................... 5 Section 2.4. Application of Collections........................................... 5 Section 2.5. Payment Rescission................................................... 6 Section 2.6. 2.6 Maximum Purchaser Interests.......................................... 6 ......................... 5 Section 2.7. 2.7 Clean Up Call........................................................ 6....................................... 5

Payments and Collections. Section 2.1 Payments; Due Dates of Payments...................................3 Section 2.1. Payments............................................................. 3 Section 2.2. 2.2 Collections Prior to Amortization.................................... 3 .................................4 Section 2.3. 2.3 Collections Following Amortization................................... 5 ................................4 Section 2.4. 2.4 Application of Collections........................................... ........................................4 Section 2.5 Payment Rescission................................................5 Section 2.5. Payment Rescission................................................... 6 Section 2.6. 2.6 Maximum Purchaser Interests.......................................... 6 .......................................5 Section 2.7. 2.7 Clean Up Call........................................................ 6.....................................................5

Payments and Collections. 3 6 Section 2.1. 2.1 Payments............................................................. 3 .................................................. 6 Section 2.2. 2.2 Collections Prior to Amortization.................................... 3 ......................... 6 Section 2.3. 2.3 Collections Following Amortization................................... 5 ........................ 7 Section 2.4. 2.4 Application of Collections........................................... 5 ................................ 7 Section 2.5. 2.5 Payment Rescission................................................... 6 ........................................ 8 Section 2.6. 2.6 Maximum Purchaser Interests.......................................... 6 ............................... 8 Section 2.7. 2.7 Clean Up Call........................................................ 6............................................. 9 Section 2.8 Release of Excess Cash Collateral......................... 9

Payments and Collections. 3 Section 2.1. 2.1 Payments............................................................. .....................................................................3 Section 2.2. 2.2 Collections Prior to Amortization.................................... 3 ............................................4 Section 2.3. 2.3 Collections Following Amortization................................... ...........................................5 Section 2.4. 2.4 Application of Collections........................................... ...................................................5 Section 2.5. 2.5 Payment Rescission................................................... 6 Recission............................................................5 Section 2.6. 2.6 Maximum Purchaser Interests.......................................... ..................................................6 Section 2.7. 2.7 Clean Up Call........................................................ ................................................................6

Payments and Collections. 3 Section 2.1. 2.1 Payments............................................................. ....................................................3 Section 2.2. 2.2 Collections Prior to Amortization.................................... 3 ...........................4 Section 2.3. 2.3 Collections Following Amortization................................... 5 ..........................4 Section 2.4. 2.4 Application of Collections........................................... ..................................4 Section 2.5 Payment Rescission..........................................5 Section 2.5. Payment Rescission................................................... 6 Section 2.6. 2.6 Maximum Purchaser Interests.......................................... 6 Section 2.7. Clean Up Call........................................................ 6.................................5

Payments and Collections. 3 Page 2 Section 2.1. 2.1 Payments............................................................. 3 ...........................................Page 2 Section 2.2. 2.2 Collections Prior to Amortization.................................... ..................Page 3 Section 2.3. 2.3 Collections Following Amortization................................... 5 .................Page 3 Section 2.4. 2.4 Application of Collections........................................... 5 .........................Page 4 Section 2.5. 2.5 Payment Rescission................................................... 6 .................................Page 4 Section 2.6. 2.6 Maximum Purchaser Interests.......................................... 6 Section 2.7. Clean Up Call........................................................ 6........................Page 4 ARTICLE III

Payments and Collections. 3 5 Section 2.1. 2.1 Payments............................................................. 3 ................................................. 5 Section 2.2. 2.2 Collections Prior to Amortization.................................... 3 ........................ 6 Section 2.3. 2.3 Collections Following Amortization................................... 5 Section 2.4. Application of Collections........................................... 5 Section 2.5. Payment Rescission................................................... ....................... 6 Section 2.6. Maximum Purchaser Interests.......................................... 6 Section 2.7. Clean Up Call........................................................ 62.4 Payment Recission........................................ 7

Payments and Collections. 3 6 Section 2.1. Payments............................................................. 3 2.1 Payments .............................................................................................. 6 Section 2.2. 2.2 Collections Prior to Amortization.................................... 3 Amortization ........................................................ 7 Section 2.3. 2.3 Collections Following Amortization................................... 5 .................................................... 8 Section 2.4. Application of Collections........................................... 5 Section 2.5. Payment Rescission................................................... 6 Section 2.6. Maximum Purchaser Interests.......................................... 6 Section 2.7. Clean Up Call........................................................ 6

Payments and Collections. 3 5 Section 2.1. 2.1 Payments............................................................. 3 .....................................................................5 Section 2.2. 2.2 Collections Prior to Amortization.................................... 3 ............................................6 Section 2.3. 2.3 Collections Following Amortization................................... 5 ...........................................6 Section 2.4. 2.4 Application of Collections........................................... 5 ...................................................7 Section 2.5. 2.5 Payment Rescission................................................... 6 Recission............................................................7 Section 2.6. 2.6 Maximum Purchaser Interests.......................................... 6 ..................................................7 Section 2.7. 2.7 Clean Up Call........................................................ 6................................................................8

Payments and Collections. 3 4 Section 2.1. Payments............................................................. 3 2.1 Recourse Obligations............................................. 4 Section 2.2. 2.2 Collections Prior to Amortization.................................... 3 ................................ 5 Section 2.3. 2.3 Collections Following Amortization................................... 5 ............................... 6 Section 2.4. Application of Collections........................................... 5 Section 2.5. Payment Rescission................................................... 6 Section 2.6. Maximum Purchaser Interests.......................................... 6 Section 2.7. Clean Up Call........................................................ 6

Payments and Collections. 3 Section 2.1. 2.1 Payments............................................................. ....................................................................3 Section 2.2. 2.2 Collections Prior to Amortization.................................... 3 ...........................................4 Section 2.3. 2.3 Collections Following Amortization................................... ..........................................5 Section 2.4. 2.4 Application of Collections........................................... ..................................................5 Section 2.5. 2.5 Payment Rescission................................................... ..........................................................6 Section 2.6. 2.6 Maximum Purchaser Interests.......................................... .................................................6 Section 2.7. 2.7 Clean Up Call........................................................ ...............................................................6 Section 2.8 Additional Originators......................................................6

Payments and Collections. 3 13 Section 2.1. Payments............................................................. 3 2.1 Payments ............................................................................................ 13 Section 2.2. 2.2 Collections Prior to Amortization.................................... 3 Amortization ...................................................... 13 Section 2.3. 2.3 Collections Following Amortization................................... 5 .................................................. 15 Section 2.4. 2.4 Application of Collections........................................... 5 Collections ................................................................. 15 Section 2.5. 2.5 Payment Rescission................................................... 6 Rescission ........................................................................... 16 Section 2.6. 2.6 Maximum Purchaser Interests.......................................... 6 ............................................................ 16 Section 2.7. 2.7 Clean Up Call........................................................ 6..................................................................................... 16 Section 2.8 Demand for Payment of Demand Loans............................................ 16

Payments and Collections. Section 2.1 Payments.................................................... 3 Section 2.1. Payments............................................................. 3 Section 2.2. 2.2 Collections Prior to Amortization.................................... ........................... 3 Section 2.3. 2.3 Collections Following Amortization................................... 5 .......................... 3 Section 2.4. 2.4 Application of Collections........................................... 5 .................................. 4 Section 2.5. 2.5 Payment Rescission................................................... 6 .......................................... 4 Section 2.6. Maximum 2.6 Aggregate Purchaser Interests.......................................... 6 Section 2.7. Clean Up Call........................................................ 6Interest................................ 5

Payments and Collections. 3 Section 2.1. Payments............................................................. 2.1 Payments .................................................. 3 Section 2.2. 2.2 Collections Prior to Amortization.................................... .......................... 3 Section 2.3. 2.3 Collections Following Amortization................................... 5 ......................... 4 Section 2.4. 2.4 Application of Collections........................................... ................................. 4 Section 2.5 Payment Recission.......................................... 5 Section 2.5. Payment Rescission................................................... 6 Section 2.6. 2.6 Maximum Purchaser Interests.......................................... 6 ................................ 5 Section 2.7. 2.7 Clean Up Call........................................................ 6.............................................. 5

Payments and Collections. 3 13 Section 2.1. 2.1 Payments............................................................. 3 ........................................................................................................................................ 13 Section 2.2. 2.2 Collections Prior to Amortization.................................... 3 ..................................................................................................... 13 Section 2.3. 2.3 Collections Following Amortization................................... 5 ............................................................................................. 1514 Section 2.4. 2.4 Application of Collections........................................... 5 ................................................................................................................ 15 Section 2.5. 2.5 Payment Rescission................................................... 6 .................................................................................................................... 1615 Section 2.6. 2.6 Maximum Purchaser Interests.......................................... 6 ......................................................................................................... 16 Section 2.7. 2.7 Clean Up Call........................................................ 6................................................................................................................................... 16 Section 2.8 Demand for Payment of Demand Loans.......................................................................................... 16

Payments and Collections. 3 Section 2.1. 2.1 Payments............................................................. ..................................................3 Section 2.2. 2.2 Collections Prior to Amortization.................................... .........................3 Section 2.3. 2.3 Collections Following Amortization................................... 5 ........................4 Section 2.4. 2.4 Application of Collections........................................... ................................4 Section 2.5 Payment Rescission........................................5 Section 2.5. Payment Rescission................................................... 6 2.6 Maximum Receivable Interests..............................5 Section 2.6. Maximum Purchaser Interests.......................................... 6 Section 2.7. 2.7 Clean Up Call........................................................ 6.............................................5

Payments and Collections. Page 3 Section 2.1. Payments............................................................. 2.1 Payments .............................................. Page 3 Section 2.2. 2.2 Collections Prior to Amortization.................................... Amortization ..................... Page 3 Section 2.3. 2.3 Collections Following Amortization................................... Amortization .................... Page 4 Section 2.4 Application of Collections ............................ Page 4 Section 2.5 Payment Recission ..................................... Page 5 Section 2.4. Application of Collections........................................... 2.6 Purchaser Interests ................................... Page 5 Section 2.5. Payment Rescission................................................... 6 Section 2.6. Maximum Purchaser Interests.......................................... 6 Section 2.7. Clean Up Call........................................................ 62.7 Repurchases and Releases of Receivables ............... Page 5

Payments and Collections. Section 2.1 Payments............................................................................................................................... 3 Section 2.1. Payments............................................................. 3 Section 2.2. 2.2 Collections Prior to Amortization.................................... .......................................................................................... 3 Section 2.3. 2.3 Collections Following Amortization................................... 5 ..................................................................................... 4 Section 2.4. 2.4 Application of Collections........................................... ..................................................................................................... 4 Section 2.5 Payment Recission................................................................................................................. 5 Section 2.5. Payment Rescission................................................... 6 Section 2.6. 2.6 Maximum Purchaser Interests.......................................... 6 ............................................................................................... 5 Section 2.7. 2.7 Clean Up Call........................................................ 6Call ....................................................................................................................... 5

Payments and Collections. 3 4 Section 2.1. 2.1 Payments............................................................. 3 .....................................................................4 Section 2.2. 2.2 Collections Prior to Amortization.................................... 3 ............................................5 Section 2.3. 2.3 Collections Following Amortization................................... ...........................................5 Section 2.4. 2.4 Application of Collections........................................... 5 Section 2.5. Payment Rescission................................................... ...................................................6 Section 2.6. 2.5 Payment Recission............................................................6 Section 2.6 Maximum Purchaser Interests.......................................... ..................................................6 Section 2.7. 2.7 Clean Up Call........................................................ 6................................................................7

Payments and Collections. 3 Section 2.1. 2.1 Payments............................................................. .......................................... 3 Section 2.2. 2.2 Collections Prior to Amortization.................................... ................. 3 Section 2.3. 2.3 Collections Following Amortization................................... 5 ................ 4 Section 2.4. 2.4 Application of Collections........................................... ........................ 4 Section 2.5 Payment Rescission................................ 5 Section 2.5. Payment Rescission................................................... 6 Section 2.6. 2.6 Maximum Purchaser Interests.......................................... 6 ....................... 5 Section 2.7. 2.7 Clean Up Call........................................................ 6..................................... 5