Common use of Payments from the Collection Account Clause in Contracts

Payments from the Collection Account. (a) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall withdraw from the Collection Account the Total Remittance Amount (to the extent such amount is on deposit in the Collection Account) and shall pay such amount as specified in this Section. All allocations and payments made between and with respect to Group 1 and Group 2 in this Section shall be made concurrently. (b) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay the Interest Funds for Group 1 for such date in the following order of priority in accordance with the report of the Trust Administrator: (i) to the Swap Counterparty, to the extent not previously paid from the Collection Account, the Group 1 Percentage of any Net Swap Payment for such Payment Date and swap termination amounts payable to the Swap Counterparty in the event that the Trust is a defaulting party or an affected party under the terms of the Swap Agreement; (ii) pro rata, to the Class 1-A1 Notes, the Class 1-A2 Notes and the A-IO(1) Component, Current Interest thereon for such Payment Date; (iii) pro rata, to the Class 2-A1 Notes, the Class 2-A2 Notes, the Class 2-A3 Notes and the A-IO(2) Component, Current Interest thereon (after giving effect to the payment of the Interest Funds for Group 2) for such Payment Date; (iv) to the Class M1 Notes, Current Interest for such Class for such Payment Date; (v) to the Class M2 Notes, Current Interest for such Class for such Payment Date; (vi) to the Class M3 Notes, Current Interest for such Class for such Payment Date; (vii) to the Class M4 Notes, Current Interest for such Class for such Payment Date; (viii) to the Class M5 Notes, Current Interest for such Class for such Payment Date; (ix) to the Class M6 Notes, Current Interest for such Class for such Payment Date; (x) to the Class M7 Notes, Current Interest for such Class for such Payment Date; (xi) to the Class M8 Notes, Current Interest for such Class for such Payment Date; (xii) to the Class M9 Notes, Current Interest for such Class for such Payment Date; (xiii) to the Class M10 Notes, Current Interest for such Class for such Payment Date; (xiv) to the Indenture Trustee, the Owner Trustee, the Master Servicer, the Trust Administrator, the Servicer and the Subservicer, previously unreimbursed extraordinary costs, liabilities and expenses to the extent provided in this Agreement; and (xv) for application as part of Monthly Excess Cashflow for such Payment Date, as provided in subsection (e) of this Section, any Group 1 Monthly Excess Interest for such Payment Date. (c) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay the Interest Funds for Group 2 for such date in the following order of priority in accordance with the report of the Trust Administrator: (i) to the Swap Counterparty, to the extent not previously paid from the Collection Account, the Group 2 Percentage of any Net Swap Payment for such Payment Date and swap termination amounts payable to the Swap Counterparty in the event that the Trust is a defaulting party or an affected party under the terms of the Swap Agreement; (ii) pro rata, to Class 2-A1 Notes, Class 2-A2 Notes, Class 2-A3 Notes and the A-IO(2) Component, Current Interest thereon for such Payment Date; (iii) pro rata, to the Class 1-A1 Notes, Class 1-A2 Notes and the A-IO(1) Component, Current Interest thereon (after giving effect to the payment of the Interest Funds for Group 1) for such Payment Date; (iv) to the Class M1 Notes, Current Interest for such Class for such Payment Date; (v) to the Class M2 Notes, Current Interest for such Class for such Payment Date; (vi) to the Class M3 Notes, Current Interest for such Class for such Payment Date; (vii) to the Class M4 Notes, Current Interest for such Class for such Payment Date; (viii) to the Class M5 Notes, Current Interest for such Class for such Payment Date; (ix) to the Class M6 Notes, Current Interest for such Class for such Payment Date; (x) to the Class M7 Notes, Current Interest for such Class for such Payment Date; (xi) to the Class M8 Notes, Current Interest for such Class for such Payment Date; (xii) to the Class M9 Notes, Current Interest for such Class for such Payment Date; (xiii) to the Class M10 Notes, Current Interest for such Class for such Payment Date; (xiv) to the Indenture Trustee, the Owner Trustee, the Master Servicer, the Trust Administrator, the Servicer and the Subservicer, previously unreimbursed extraordinary costs, liabilities and expenses to the extent provided in this Agreement; and (xv) for application as part of Monthly Excess Cashflow for such Payment Date, as provided in subsection (e) of this Section, any Group 2 Monthly Excess Interest for such Payment Date. (d) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay the Principal Funds for such date in accordance with the report of the Trust Administrator as follows: (i) On each Payment Date (a) prior to the Stepdown Date or (b) with respect to which a Trigger Event is in effect, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall make the following payments to the extent of funds then in the Collection Account available therefor, concurrently: (1) For Group 1: The Principal Payment Amount for Group 1 will be paid in the following order of priority: (A) to the Swap Counterparty, to the extent not previously paid from the Collection Account, the Group 1 Percentage of swap termination amounts payable to the Swap Counterparty in the event that the Trust is a defaulting party or an affected party under the terms of the Swap Agreement; (B) if no Trigger Event or Class 1-A2 Trigger Event has occurred and is continuing, pro rata, to the Class 1-A1 Notes and Class 1 -A2 Notes, until the respective Class Principal Amount of such Classes has been reduced to zero, or if a Trigger Event or Class 1-A2 Trigger Event has occurred and is continuing, then sequentially, to the Class 1-A1 Notes, until the Class Principal Amount of such Class has been reduced to zero, and then to the Class 1-A2 Notes, until the Class Principal Amount of such Class has been reduced to zero; (C) sequentially, to the Class 2-A1, Class 2-A2 and Class 2-A3 Notes, in that order, after giving effect to payments pursuant to subsection 6.02(d)(i)(2)(B), until the Class Principal Amount of each such Class has been reduced to zero; (D) to the Class M1 Notes, until the Class Principal Amount of such Class has been reduced to zero; (E) to the Class M2 Notes, until the Class Principal Amount of such Class has been reduced to zero; (F) to the Class M3 Notes, until the Class Principal Amount of such Class has been reduced to zero; (G) to the Class M4 Notes, until the Class Principal Amount of such Class has been reduced to zero; (H) to the Class M5 Notes, until the Class Principal Amount of such Class has been reduced to zero; (I) to the Class M6 Notes, until the Class Principal Amount of such Class has been reduced to zero; (J) to the Class M7 Notes, until the Class Principal Amount of such Class has been reduced to zero; (K) to the Class M8 Notes, until the Class Principal Amount of such Class has been reduced to zero; (L) to the Class M9 Notes, until the Class Principal Amount of such Class has been reduced to zero; (M) to the Class M10 Notes, until the Class Principal Amount of such Class has been reduced to zero; (N) to the Swap Counterparty, to the extent not previously paid, the Group 1 Percentage of swap termination amounts payable to the Swap Counterparty in the event that the Swap Counterparty is a defaulting party or the sole affected party under the terms of the Swap Agreement; and (O) for application as part of Monthly Excess Cashflow for such Payment Date, as provided for in subsection (e) of this Section, any such Principal Payment Amount for Group 1 remaining after application pursuant to clauses (A) through (N) above.

Payments from the Collection Account. (a) On each Payment Date, the Indenture Trustee Trust Administrator (or the Paying Agent on behalf of the Indenture TrusteeTrust Administrator) shall withdraw from the Collection Account the Total Remittance Amount (to the extent such amount is on deposit in the Collection Account) and shall pay such amount as specified in this Section. All allocations and payments made between and with respect to Group Pool 1 and Group Pool 2 in this Section shall be made concurrently. (b) On each Payment Date, the Indenture Trustee Trust Administrator (or the Paying Agent on behalf of the Indenture TrusteeTrust Administrator) shall pay the Interest Funds Remittance Amount for Group Pool 1 for such date in the following order of priority in accordance with the report of the Trust Administrator: (i) to the Swap Counterpartypro rata, to the extent not previously paid from the Collection AccountClass 1A1 Notes, the Group 1 Percentage of any Net Swap Payment Class 1A2 and Class 1A3 Notes, Current Interest thereon for such Payment Date and swap termination amounts payable to the Swap Counterparty in the event that the Trust is a defaulting party or an affected party under the terms of the Swap AgreementDate; (ii) pro rata, to the Class 1-A1 Notes, the Class 1-A2 2A1 Notes and the A-IO(1) Component, Current Interest thereon for such Payment Date; (iii) pro rata, to the Class 2-A1 2A2 Notes, the Class 2-A2 Notes, the Class 2-A3 Notes and the A-IO(2) Component, Current Interest thereon (after giving effect to the payment of the Interest Funds Remittance Amount for Group Pool 2) for such Payment Date; (iv) to the Class M1 Notes, Current Interest for such Class for such Payment Date; (v) to the Class M2 Notes, Current Interest for such Class for such Payment Date; (vi) to the Class M3 Notes, Current Interest for such Class for such Payment Date; (vii) to the Class M4 Notes, Current Interest for such Class for such Payment Date; (viii) to the Class M5 Notes, Current Interest for such Class for such Payment Date; (ix) to the Class M6 Notes, Current Interest for such Class for such Payment Date; (x) to the Class M7 Notes, Current Interest for such Class for such Payment Date; (xi) to the Class M8 Notes, Current Interest for such Class for such Payment Date; (xii) to the Class M9 Notes, Current Interest for such Class for such Payment Date; (xiii) to the Class M10 Notes, Current Interest for such Class for such Payment Date; (xiv) to the Indenture Trustee, the Owner Trustee, the Master Servicer, the Trust Administrator, the Servicer and the Subservicer, previously unreimbursed extraordinary costs, liabilities and expenses to the extent provided in this Agreement; and (xviii) for application as part of Monthly Excess Cashflow for such Payment Datesequentially, as provided in subsection pursuant to clause (ed) of this Section, any Group 1 Monthly Excess Interest for such Payment Datebelow. (c) On each Payment Date, the Indenture Trustee Trust Administrator (or the Paying Agent on behalf of the Indenture TrusteeTrust Administrator) shall pay the Interest Funds Remittance Amount for Group Pool 2 for such date in the following order of priority in accordance with the report of the Trust Administrator: (i) to the Swap Counterparty, to the extent not previously paid from the Collection Account, the Group 2 Percentage of any Net Swap Payment for such Payment Date and swap termination amounts payable to the Swap Counterparty in the event that the Trust is a defaulting party or an affected party under the terms of the Swap Agreement; (ii) pro rata, to the Class 2-A1 Notes, Class 2-A2 Notes, Class 2-A3 2A1 Notes and the A-IO(2) ComponentClass 2A2 Notes, Current Interest thereon for such Payment Date; (iiiii) pro rata, to the Class 1-A1 1A1 Notes, Class 1-A2 Notes 1A2 and the A-IO(1) ComponentClass 1A3 Notes, Current Interest thereon (after giving effect to the payment of the Interest Funds Remittance Amount for Group Pool 1) for such Payment Date; and (iii) sequentially, pursuant to clause (d) below. (d) On each Payment Date, the Trust Administrator (or the Paying Agent on behalf of the Trust Administrator) shall pay the Interest Remittance Amount for both Pool 1 and Pool 2 for such date after payments under clause (b) and clause (c) above in the following order of priority in accordance with the report of the Trust Administrator: (i) to the Class M1, Class M2, Class M3, Class M4, Class M5, Class M6, Class M7, Class M8, Class M9, Class B1, Class B2 and Class B3 Notes, sequentially (the “Subordinate Priority”), in that order, Current Interest for such Payment Date; (iv) to the Class M1 Notes, Current Interest for such Class for such Payment Date; (v) to the Class M2 Notes, Current Interest for such Class for such Payment Date; (vi) to the Class M3 Notes, Current Interest for such Class for such Payment Date; (vii) to the Class M4 Notes, Current Interest for such Class for such Payment Date; (viii) to the Class M5 Notes, Current Interest for such Class for such Payment Date; (ix) to the Class M6 Notes, Current Interest for such Class for such Payment Date; (x) to the Class M7 Notes, Current Interest for such Class for such Payment Date; (xi) to the Class M8 Notes, Current Interest for such Class for such Payment Date; (xii) to the Class M9 Notes, Current Interest for such Class for such Payment Date; (xiii) to the Class M10 Notes, Current Interest for such Class for such Payment Date; (xivii) to the Indenture Trustee, the Custodian (to the extent not paid by the Seller pursuant to the Custodial Agreement), the Owner Trustee, the Master Servicer, the Trust Administrator, the Servicer Administrator and the SubservicerServicer, previously unreimbursed extraordinary costs, liabilities and expenses to the extent provided in this AgreementAgreement (including amounts set forth in Section 4.08(b)(ii)); and (xviii) for application as part of Monthly Excess Cashflow for such Payment Date, as provided in subsection (ef) of this Section, any Group 2 Monthly Excess Interest for such Payment DateRemittance Amount remaining after application pursuant to clauses (i) and (ii) above. (de) On each Payment Date, the Indenture Trustee Trust Administrator (or the Paying Agent on behalf of the Indenture TrusteeTrust Administrator) shall pay the Principal Funds Remittance Amount for such date in accordance with the report of the Trust Administrator as follows: (i) On each Payment Date (a) prior to the Stepdown Date or (b) with respect to which a Trigger Event is in effect, the Indenture Trustee Trust Administrator (or the Paying Agent on behalf of the Indenture TrusteeTrust Administrator) shall make the following payments to the extent of funds then in the Collection Account available therefor, concurrently: (1) For Group 1: The Principal Payment Amount for Group 1 will be paid in the following order of priority: (A) to the Swap Counterparty, to the extent not previously paid from the Collection Account, the Group 1 Percentage of swap termination amounts payable to the Swap Counterparty in the event that the Trust is a defaulting party or an affected party under the terms of the Swap Agreement; (B) if no Trigger Event or Class 1-A2 Trigger Event has occurred and is continuing, pro rata, to the Class 1-A1 Notes and Class 1 -A2 Notes, until the respective Class Principal Amount of such Classes has been reduced to zero, or if a Trigger Event or Class 1-A2 Trigger Event has occurred and is continuing, then sequentially, to the Class 1-A1 Notes, until the Class Principal Amount of such Class has been reduced to zero, and then to the Class 1-A2 Notes, until the Class Principal Amount of such Class has been reduced to zero; (C) sequentially, to the Class 2-A1, Class 2-A2 and Class 2-A3 Notes, in that order, after giving effect to payments pursuant to subsection 6.02(d)(i)(2)(B), until the Class Principal Amount of each such Class has been reduced to zero; (D) to the Class M1 Notes, until the Class Principal Amount of such Class has been reduced to zero; (E) to the Class M2 Notes, until the Class Principal Amount of such Class has been reduced to zero; (F) to the Class M3 Notes, until the Class Principal Amount of such Class has been reduced to zero; (G) to the Class M4 Notes, until the Class Principal Amount of such Class has been reduced to zero; (H) to the Class M5 Notes, until the Class Principal Amount of such Class has been reduced to zero; (I) to the Class M6 Notes, until the Class Principal Amount of such Class has been reduced to zero; (J) to the Class M7 Notes, until the Class Principal Amount of such Class has been reduced to zero; (K) to the Class M8 Notes, until the Class Principal Amount of such Class has been reduced to zero; (L) to the Class M9 Notes, until the Class Principal Amount of such Class has been reduced to zero; (M) to the Class M10 Notes, until the Class Principal Amount of such Class has been reduced to zero; (N) to the Swap Counterparty, to the extent not previously paid, the Group 1 Percentage of swap termination amounts payable to the Swap Counterparty in the event that the Swap Counterparty is a defaulting party or the sole affected party under the terms of the Swap Agreement; and (O) for application as part of Monthly Excess Cashflow for such Payment Date, as provided for in subsection (e) of this Section, any such Principal Payment Amount for Group 1 remaining after application pursuant to clauses (A) through (N) above.

Payments from the Collection Account. (a) On each Payment Date, the Indenture Trustee Trust Administrator (or the Paying Agent on behalf of the Indenture TrusteeTrust Administrator) shall withdraw from the Collection Account the Total Remittance Amount (to the extent such amount is on deposit in the Collection Account) and shall pay such amount as specified in this Section. All allocations and payments made between and with respect to Group Pool 1 and Group Pool 2 in this Section shall be made concurrently. (b) On each Payment Date, the Indenture Trustee Trust Administrator (or the Paying Agent on behalf of the Indenture TrusteeTrust Administrator) shall pay the Interest Funds Remittance Amount for Group Pool 1 for such date in the following order of priority in accordance with the report of the Trust Administrator: (i) to the Swap Counterparty, to the extent not previously paid from the Collection Account, the Group 1 Percentage of any Net Swap Payment for such Payment Date and swap termination amounts payable to the Swap Counterparty in the event that the Trust is a defaulting party or an affected party under the terms of the Swap Agreement; (ii) pro rata, to the Class 1-A1 1A1 Notes, the Class 1-A2 Notes 1A2 and the A-IO(1) ComponentClass 1A3 Notes, Current Interest thereon for such Payment Date; (iiiii) pro rata, to the Class 2-A1 2A1 Notes, the Class 2-A2 Notes, the Class 2-A3 Notes and the A-IO(2) Component, Current Interest thereon (after giving effect to the payment of the Interest Funds Remittance Amount for Group Pool 2) for such Payment Date; (iv) to the Class M1 Notes, Current Interest for such Class for such Payment Date; (v) to the Class M2 Notes, Current Interest for such Class for such Payment Date; (vi) to the Class M3 Notes, Current Interest for such Class for such Payment Date; (vii) to the Class M4 Notes, Current Interest for such Class for such Payment Date; (viii) to the Class M5 Notes, Current Interest for such Class for such Payment Date; (ix) to the Class M6 Notes, Current Interest for such Class for such Payment Date; (x) to the Class M7 Notes, Current Interest for such Class for such Payment Date; (xi) to the Class M8 Notes, Current Interest for such Class for such Payment Date; (xii) to the Class M9 Notes, Current Interest for such Class for such Payment Date; (xiii) to the Class M10 Notes, Current Interest for such Class for such Payment Date; (xiv) to the Indenture Trustee, the Owner Trustee, the Master Servicer, the Trust Administrator, the Servicer and the Subservicer, previously unreimbursed extraordinary costs, liabilities and expenses to the extent provided in this Agreement; and (xviii) for application as part of Monthly Excess Cashflow for such Payment Datesequentially, as provided in subsection pursuant to clause (ed) of this Section, any Group 1 Monthly Excess Interest for such Payment Datebelow. (c) On each Payment Date, the Indenture Trustee Trust Administrator (or the Paying Agent on behalf of the Indenture TrusteeTrust Administrator) shall pay the Interest Funds Remittance Amount for Group Pool 2 for such date in the following order of priority in accordance with the report of the Trust Administrator: (i) to the Swap Counterparty, to the extent not previously paid from the Collection Account, the Group 2 Percentage of any Net Swap Payment for such Payment Date and swap termination amounts payable to the Swap Counterparty in the event that the Trust is a defaulting party or an affected party under the terms of the Swap Agreement; (ii) pro rata, to Class 2-A1 2A1 Notes, Class 2-A2 Notes, Class 2-A3 Notes and the A-IO(2) Component, Current Interest thereon for such Payment Date; (iiiii) pro rata, to the Class 1-A1 1A1 Notes, Class 1-A2 Notes 1A2 and the A-IO(1) ComponentClass 1A3 Notes, Current Interest thereon (after giving effect to the payment of the Interest Funds Remittance Amount for Group Pool 1) for such Payment Date; and (iii) sequentially, pursuant to clause (d) below. (d) On each Payment Date, the Trust Administrator (or the Paying Agent on behalf of the Trust Administrator) shall pay the Interest Remittance Amount for both Pool 1 and Pool 2 for such date after payments under clause (b) and clause (c) above in the following order of priority in accordance with the report of the Trust Administrator: (i) to the Class M1, Class M2, Class M3, Class M4, Class M5, Class M6, Class M7, Class M8, Class M9, Class B1, Class B2, Class B3 and Class B4 Notes, sequentially, in that order (the "Subordinate Priority"), Current Interest for such Payment Date; (iv) to the Class M1 Notes, Current Interest for such Class for such Payment Date; (v) to the Class M2 Notes, Current Interest for such Class for such Payment Date; (vi) to the Class M3 Notes, Current Interest for such Class for such Payment Date; (vii) to the Class M4 Notes, Current Interest for such Class for such Payment Date; (viii) to the Class M5 Notes, Current Interest for such Class for such Payment Date; (ix) to the Class M6 Notes, Current Interest for such Class for such Payment Date; (x) to the Class M7 Notes, Current Interest for such Class for such Payment Date; (xi) to the Class M8 Notes, Current Interest for such Class for such Payment Date; (xii) to the Class M9 Notes, Current Interest for such Class for such Payment Date; (xiii) to the Class M10 Notes, Current Interest for such Class for such Payment Date; (xivii) to the Indenture Trustee, the Custodian (to the extent not paid by the Seller pursuant to the Custodial Agreement), the Owner Trustee, the Master Servicer, the Trust Administrator, the Servicer Administrator and the SubservicerServicer, previously unreimbursed extraordinary costs, liabilities and expenses to the extent provided in this AgreementAgreement (including amounts set forth in Section 4.08(b)(ii)); and (xviii) for application as part of Monthly Excess Cashflow for such Payment Date, as provided in subsection (ef) of this Section, any Group 2 Monthly Excess Interest for such Payment DateRemittance Amount remaining after application pursuant to clauses (i) and (ii) above. (de) On each Payment Date, the Indenture Trustee Trust Administrator (or the Paying Agent on behalf of the Indenture TrusteeTrust Administrator) shall pay the Principal Funds Remittance Amount for such date in accordance with the report of the Trust Administrator as follows: (i) On each Payment Date (a) prior to the Stepdown Date or (b) with respect to which a Trigger Event is in effect, the Indenture Trustee Trust Administrator (or the Paying Agent on behalf of the Indenture TrusteeTrust Administrator) shall make the following payments to the extent of funds then in the Collection Account available therefor, concurrently: (1) For Group 1: The Principal Payment Amount for Group 1 will be paid in the following order of priority: (A) to the Swap Counterparty, to the extent not previously paid from the Collection Account, the Group 1 Percentage of swap termination amounts payable to the Swap Counterparty in the event that the Trust is a defaulting party or an affected party under the terms of the Swap Agreement; (B) if no Trigger Event or Class 1-A2 Trigger Event has occurred and is continuing, pro rata, to the Class 1-A1 Notes and Class 1 -A2 Notes, until the respective Class Principal Amount of such Classes has been reduced to zero, or if a Trigger Event or Class 1-A2 Trigger Event has occurred and is continuing, then sequentially, to the Class 1-A1 Notes, until the Class Principal Amount of such Class has been reduced to zero, and then to the Class 1-A2 Notes, until the Class Principal Amount of such Class has been reduced to zero; (C) sequentially, to the Class 2-A1, Class 2-A2 and Class 2-A3 Notes, in that order, after giving effect to payments pursuant to subsection 6.02(d)(i)(2)(B), until the Class Principal Amount of each such Class has been reduced to zero; (D) to the Class M1 Notes, until the Class Principal Amount of such Class has been reduced to zero; (E) to the Class M2 Notes, until the Class Principal Amount of such Class has been reduced to zero; (F) to the Class M3 Notes, until the Class Principal Amount of such Class has been reduced to zero; (G) to the Class M4 Notes, until the Class Principal Amount of such Class has been reduced to zero; (H) to the Class M5 Notes, until the Class Principal Amount of such Class has been reduced to zero; (I) to the Class M6 Notes, until the Class Principal Amount of such Class has been reduced to zero; (J) to the Class M7 Notes, until the Class Principal Amount of such Class has been reduced to zero; (K) to the Class M8 Notes, until the Class Principal Amount of such Class has been reduced to zero; (L) to the Class M9 Notes, until the Class Principal Amount of such Class has been reduced to zero; (M) to the Class M10 Notes, until the Class Principal Amount of such Class has been reduced to zero; (N) to the Swap Counterparty, to the extent not previously paid, the Group 1 Percentage of swap termination amounts payable to the Swap Counterparty in the event that the Swap Counterparty is a defaulting party or the sole affected party under the terms of the Swap Agreement; and (O) for application as part of Monthly Excess Cashflow for such Payment Date, as provided for in subsection (e) of this Section, any such Principal Payment Amount for Group 1 remaining after application pursuant to clauses (A) through (N) above.

Payments from the Collection Account. (a) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall withdraw from the Collection Account the Total Remittance Amount (to the extent such amount is on deposit in the Collection Account) and shall pay such amount as specified in this Section. All allocations and payments made between and with respect to Group 1 and Group 2 in this Section shall be made concurrently. (b) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay the Interest Funds for Group 1 for such date in the following order of priority in accordance with the report of the Trust Administrator: (i) to the Swap Counterparty, to the extent not previously paid from the Collection Account, the Group 1 Percentage of any Net Swap Payment for such Payment Date and swap termination amounts payable to the Swap Counterparty in the event that the Trust Issuing Entity is a defaulting party or an affected party under the terms of the Swap AgreementAgreements; (ii) pro ratato the Swap Counterparty, to the extent not previously paid from the Collection Account, the unpaid Group 2 Percentage of any Net Swap Payment for such Payment Date and swap termination amounts payable to the Swap Counterparty in the event that the Issuing Entity is the defaulting party or an affected party under the terms of the Swap Agreements (after giving effect to payments of Interest Funds pursuant to Section 6.02(c)); (iii) to the Final Maturity Reserve Account, to the extent not previously paid from the Collection Account, the Group 1 Percentage of any Final Maturity Reserve Amount; (iv) to the Final Maturity Reserve Account, to the extent not previously paid from the Collection Account, the unpaid Group 2 Percentage of any Final Maturity Reserve Amount (after giving effect to payments of Interest Funds pursuant to Section 6.02(c)); (v) to the Class 1-A1 A Notes, the Class 1-A2 Notes and the A-IO(1) Component, Current Interest thereon for such Payment Date; (iiivi) pro rata, to the Class 2-A1 Notes, the Class 2-A2 Notes, the Class 2-A3 Notes and the AClass 2-IO(2) ComponentA4 Notes, Current Interest thereon (after giving effect to the payment payments of the Interest Funds for Group 2pursuant to Section 6.02(c)) for such Payment Date; (iv) to the Class M1 Notes, Current Interest for such Class for such Payment Date; (v) to the Class M2 Notes, Current Interest for such Class for such Payment Date; (vi) to the Class M3 Notes, Current Interest for such Class for such Payment Date;; and (vii) to the Class M4 Notes, Current Interest for such Class for such Payment Date; (viii) to the Class M5 Notes, Current Interest for such Class for such Payment Date; (ix) to the Class M6 Notes, Current Interest for such Class for such Payment Date; (x) to the Class M7 Notes, Current Interest for such Class for such Payment Date; (xi) to the Class M8 Notes, Current Interest for such Class for such Payment Date; (xii) to the Class M9 Notes, Current Interest for such Class for such Payment Date; (xiii) to the Class M10 Notes, Current Interest for such Class for such Payment Date; (xiv) to the Indenture Trustee, the Owner Trustee, the Master Servicer, the Trust Administrator, the Servicer and the Subservicer, previously unreimbursed extraordinary costs, liabilities and expenses to the extent provided in this Agreement; and (xv) for application as part of Monthly Excess Cashflow for such Payment Date, as provided in subsection pursuant to clause (ed) of this Sectionbelow, any Group 1 Monthly Excess Interest Funds remaining undistributed for such Payment Date. (c) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay the Interest Funds for Group 2 for such date in the following order of priority in accordance with the report of the Trust Administrator: (i) to the Swap Counterparty, to the extent not previously paid from the Collection Account, the Group 2 Percentage of any Net Swap Payment for such Payment Date and swap termination amounts payable to the Swap Counterparty in the event that the Trust Issuing Entity is a defaulting party or an affected party under the terms of the Swap AgreementAgreements; (ii) to the Swap Counterparty, to the extent not previously paid from the Collection Account, the unpaid Group 1 Percentage of any Net Swap Payment for such Payment Date and swap termination amounts payable to the Swap Counterparty in the event that the Issuing Entity is the defaulting party or an affected party under the terms of the Swap Agreements (after giving effect to payments of Interest Funds pursuant to Section 6.02(b)); (iii) to the Final Maturity Reserve Account, to the extent not previously paid from the Collection Account, the Group 2 Percentage of any Final Maturity Reserve Amount; (iv) to the Final Maturity Reserve Account, to the extent not previously paid from the Collection Account, the unpaid Group 1 Percentage of any Final Maturity Reserve Amount (after giving effect to payments of Interest Funds pursuant to Section 6.02(b)); (v) pro rata, to the Class 2-A1 Notes, the Class 2-A2 Notes, the Class 2-A3 Notes and the AClass 2-IO(2) ComponentA4 Notes, Current Interest thereon for such Payment Date; (iiivi) pro rata, to the Class 1-A1 A Notes, Class 1-A2 Notes and the A-IO(1) Component, Current Interest thereon (after giving effect to the payment payments of the Interest Funds for Group 1pursuant to Section 6.02(b)) for such Payment Date;; and (ivvii) for application pursuant to clause (d) below, any Interest Funds remaining undistributed for such Payment Date. (d) On each Payment Date, the Paying Agent shall pay the aggregate of any remaining Interest Funds from Group 1 and Group 2 from Section 6.02(b)(vii) and Section 6.02(c)(vii), respectively, for such Payment Date in the following order of priority in accordance with the report of the Trust Administrator: (i) to the Class M1 Notes, Current Interest for such Class for such Payment Date; (vii) to the Class M2 Notes, Current Interest for such Class for such Payment Date; (viiii) to the Class M3 Notes, Current Interest for such Class for such Payment Date; (viiiv) to the Class M4 Notes, Current Interest for such Class for such Payment Date; (viiiv) to the Class M5 Notes, Current Interest for such Class for such Payment Date; (ixvi) to the Class M6 Notes, Current Interest for such Class for such Payment Date; (xvii) to the Class M7 Notes, Current Interest for such Class for such Payment Date; (xiviii) to the Class M8 Notes, Current Interest for such Class for such Payment Date; (xiiix) to the Class M9 Notes, Current Interest for such Class for such Payment Date; (xiiix) to the Class M10 Notes, Current Interest for such Class for such Payment Date; (xivxi) to the Indenture Trustee, the Owner Trustee, the Master Servicer, the Trust Administrator, the Servicer and the Subservicer, previously unreimbursed extraordinary costs, liabilities and expenses to the extent provided in this Agreement; and (xvxii) for application as part of Monthly Excess Cashflow for such Payment Date, as provided in subsection (ef) of this Section, Section any Group 2 Monthly Excess Interest Funds remaining undistributed for such Payment Date. (de) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay the Principal Funds for such date in accordance with the report of the Trust Administrator as follows: (i) On each Payment Date (a) prior to the Stepdown Date or (b) with respect to which a Trigger Event is in effect, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall make the following payments to the extent of funds then in the Collection Account available therefor, concurrently: (1) For Group 1: The Principal Payment Amount for Group 1 will be paid in the following order of priority: (A) to the Swap Counterparty, to the extent not previously paid from the Collection Account, the Group 1 Percentage of swap termination amounts payable to the Swap Counterparty in the event that the Trust is a defaulting party or an affected party under the terms of the Swap Agreement; (B) if no Trigger Event or Class 1-A2 Trigger Event has occurred and is continuing, pro rata, to the Class 1-A1 Notes and Class 1 -A2 Notes, until the respective Class Principal Amount of such Classes has been reduced to zero, or if a Trigger Event or Class 1-A2 Trigger Event has occurred and is continuing, then sequentially, to the Class 1-A1 Notes, until the Class Principal Amount of such Class has been reduced to zero, and then to the Class 1-A2 Notes, until the Class Principal Amount of such Class has been reduced to zero; (C) sequentially, to the Class 2-A1, Class 2-A2 and Class 2-A3 Notes, in that order, after giving effect to payments pursuant to subsection 6.02(d)(i)(2)(B), until the Class Principal Amount of each such Class has been reduced to zero; (D) to the Class M1 Notes, until the Class Principal Amount of such Class has been reduced to zero; (E) to the Class M2 Notes, until the Class Principal Amount of such Class has been reduced to zero; (F) to the Class M3 Notes, until the Class Principal Amount of such Class has been reduced to zero; (G) to the Class M4 Notes, until the Class Principal Amount of such Class has been reduced to zero; (H) to the Class M5 Notes, until the Class Principal Amount of such Class has been reduced to zero; (I) to the Class M6 Notes, until the Class Principal Amount of such Class has been reduced to zero; (J) to the Class M7 Notes, until the Class Principal Amount of such Class has been reduced to zero; (K) to the Class M8 Notes, until the Class Principal Amount of such Class has been reduced to zero; (L) to the Class M9 Notes, until the Class Principal Amount of such Class has been reduced to zero; (M) to the Class M10 Notes, until the Class Principal Amount of such Class has been reduced to zero; (N) to the Swap Counterparty, to the extent not previously paid, the Group 1 Percentage of swap termination amounts payable to the Swap Counterparty in the event that the Swap Counterparty is a defaulting party or the sole affected party under the terms of the Swap Agreement; and (O) for application as part of Monthly Excess Cashflow for such Payment Date, as provided for in subsection (e) of this Section, any such Principal Payment Amount for Group 1 remaining after application pursuant to clauses (A) through (N) above.

Payments from the Collection Account. (a) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall withdraw from the Collection Account the Total Remittance Amount (to the extent such amount is on deposit in the Collection Account) and shall pay such amount as specified in this Section. All allocations and payments made between and with respect to Group 1 and Group 2 in this Section shall be made concurrently. (b) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay the Interest Funds for Group 1 for such date in the following order of priority in accordance with the report of the Trust Administrator: (i) to the Swap Counterparty, to the extent not previously paid from the Collection Account, the Group 1 Percentage of any Net Swap Payment for such Payment Date and swap termination amounts payable to the Swap Counterparty in the event that the Trust Issuing Entity is a defaulting party or an affected party under the terms of the Swap AgreementAgreements; (ii) pro ratato the Swap Counterparty, to the extent not previously paid from the Collection Account, the unpaid Group 2 Percentage of any Net Swap Payment for such Payment Date and swap termination amounts payable to the Swap Counterparty in the event that the Issuing Entity is the defaulting party or an affected party under the terms of the Swap Agreements (after giving effect to payments of Interest Funds pursuant to Section 6.02(c)); (iii) to the Final Maturity Reserve Account, to the extent not previously paid from the Collection Account, the Group 1 Percentage of any Final Maturity Reserve Amount; (iv) to the Final Maturity Reserve Account, to the extent not previously paid from the Collection Account, the unpaid Group 2 Percentage of any Final Maturity Reserve Amount (after giving effect to payments of Interest Funds pursuant to Section 6.02(c)); (v) to the Class 1-A1 A Notes, the Class 1-A2 Notes and the A-IO(1) Component, Current Interest thereon for such Payment Date; (iiivi) pro rata, to the Class 2-A1 Notes, the Class 2-A2 Notes, Notes and the Class 2-A3 Notes and the A-IO(2) ComponentNotes, Current Interest thereon (after giving effect to the payment payments of the Interest Funds for Group 2pursuant to Section 6.02(c)) for such Payment Date; (iv) to the Class M1 Notes, Current Interest for such Class for such Payment Date; (v) to the Class M2 Notes, Current Interest for such Class for such Payment Date; (vi) to the Class M3 Notes, Current Interest for such Class for such Payment Date;; and (vii) to the Class M4 Notes, Current Interest for such Class for such Payment Date; (viii) to the Class M5 Notes, Current Interest for such Class for such Payment Date; (ix) to the Class M6 Notes, Current Interest for such Class for such Payment Date; (x) to the Class M7 Notes, Current Interest for such Class for such Payment Date; (xi) to the Class M8 Notes, Current Interest for such Class for such Payment Date; (xii) to the Class M9 Notes, Current Interest for such Class for such Payment Date; (xiii) to the Class M10 Notes, Current Interest for such Class for such Payment Date; (xiv) to the Indenture Trustee, the Owner Trustee, the Master Servicer, the Trust Administrator, the Servicer and the Subservicer, previously unreimbursed extraordinary costs, liabilities and expenses to the extent provided in this Agreement; and (xv) for application as part of Monthly Excess Cashflow for such Payment Date, as provided in subsection pursuant to clause (ed) of this Sectionbelow, any Group 1 Monthly Excess Interest Funds remaining undistributed for such Payment Date. (c) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay the Interest Funds for Group 2 for such date in the following order of priority in accordance with the report of the Trust Administrator: (i) to the Swap Counterparty, to the extent not previously paid from the Collection Account, the Group 2 Percentage of any Net Swap Payment for such Payment Date and swap termination amounts payable to the Swap Counterparty in the event that the Trust Issuing Entity is a defaulting party or an affected party under the terms of the Swap AgreementAgreements; (ii) to the Swap Counterparty, to the extent not previously paid from the Collection Account, the unpaid Group 1 Percentage of any Net Swap Payment for such Payment Date and swap termination amounts payable to the Swap Counterparty in the event that the Issuing Entity is the defaulting party or an affected party under the terms of the Swap Agreements (after giving effect to payments of Interest Funds pursuant to Section 6.02(b)); (iii) to the Final Maturity Reserve Account, to the extent not previously paid from the Collection Account, the Group 2 Percentage of any Final Maturity Reserve Amount; (iv) to the Final Maturity Reserve Account, to the extent not previously paid from the Collection Account, the unpaid Group 1 Percentage of any Final Maturity Reserve Amount (after giving effect to payments of Interest Funds pursuant to Section 6.02(b)); (v) pro rata, to the Class 2-A1 Notes, the Class 2-A2 Notes, Notes and the Class 2-A3 Notes and the A-IO(2) ComponentNotes, Current Interest thereon for such Payment Date; (iiivi) pro rata, to the Class 1-A1 A Notes, Class 1-A2 Notes and the A-IO(1) Component, Current Interest thereon (after giving effect to the payment payments of the Interest Funds for Group 1pursuant to Section 6.02(b)) for such Payment Date;; and (ivvii) for application pursuant to clause (d) below, any Interest Funds remaining undistributed for such Payment Date. (d) On each Payment Date, the Paying Agent shall pay the aggregate of any remaining Interest Funds from Group 1 and Group 2 from Section 6.02(b)(vii) and Section 6.02(c)(vii), respectively, for such Payment Date in the following order of priority in accordance with the report of the Trust Administrator: (i) to the Class M1 Notes, Current Interest for such Class for such Payment Date; (vii) to the Class M2 Notes, Current Interest for such Class for such Payment Date; (viiii) to the Class M3 Notes, Current Interest for such Class for such Payment Date; (viiiv) to the Class M4 Notes, Current Interest for such Class for such Payment Date; (viiiv) to the Class M5 Notes, Current Interest for such Class for such Payment Date; (ixvi) to the Class M6 Notes, Current Interest for such Class for such Payment Date; (xvii) to the Class M7 Notes, Current Interest for such Class for such Payment Date; (xiviii) to the Class M8 Notes, Current Interest for such Class for such Payment Date; (xiiix) to the Class M9 Notes, Current Interest for such Class for such Payment Date; (xiiix) to the Class M10 Notes, Current Interest for such Class for such Payment Date; (xivxi) to the Class M11 Notes, Current Interest for such Class for such Payment Date; (xii) to the Indenture Trustee, the Owner Trustee, the Master Servicer, the Trust Administrator, the Servicer and the Subservicer, previously unreimbursed extraordinary costs, liabilities and expenses to the extent provided in this Agreement; and (xvxiii) for application as part of Monthly Excess Cashflow for such Payment Date, as provided in subsection (ef) of this Section, Section any Group 2 Monthly Excess Interest Funds remaining undistributed for such Payment Date. (de) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay the Principal Funds for such date in accordance with the report of the Trust Administrator as follows: (i) On each Payment Date (a) prior to the Stepdown Date or (b) with respect to which a Trigger Event is in effect, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall make the following payments to the extent of funds then in the Collection Account available therefor, concurrently: (1) For Group 1: The Principal Payment Amount for Group 1 will be paid in the following order of priority: (A) to the Swap Counterparty, to the extent not previously paid from the Collection Account, the Group 1 Percentage of swap termination amounts payable to the Swap Counterparty in the event that the Trust is a defaulting party or an affected party under the terms of the Swap Agreement; (B) if no Trigger Event or Class 1-A2 Trigger Event has occurred and is continuing, pro rata, to the Class 1-A1 Notes and Class 1 -A2 Notes, until the respective Class Principal Amount of such Classes has been reduced to zero, or if a Trigger Event or Class 1-A2 Trigger Event has occurred and is continuing, then sequentially, to the Class 1-A1 Notes, until the Class Principal Amount of such Class has been reduced to zero, and then to the Class 1-A2 Notes, until the Class Principal Amount of such Class has been reduced to zero; (C) sequentially, to the Class 2-A1, Class 2-A2 and Class 2-A3 Notes, in that order, after giving effect to payments pursuant to subsection 6.02(d)(i)(2)(B), until the Class Principal Amount of each such Class has been reduced to zero; (D) to the Class M1 Notes, until the Class Principal Amount of such Class has been reduced to zero; (E) to the Class M2 Notes, until the Class Principal Amount of such Class has been reduced to zero; (F) to the Class M3 Notes, until the Class Principal Amount of such Class has been reduced to zero; (G) to the Class M4 Notes, until the Class Principal Amount of such Class has been reduced to zero; (H) to the Class M5 Notes, until the Class Principal Amount of such Class has been reduced to zero; (I) to the Class M6 Notes, until the Class Principal Amount of such Class has been reduced to zero; (J) to the Class M7 Notes, until the Class Principal Amount of such Class has been reduced to zero; (K) to the Class M8 Notes, until the Class Principal Amount of such Class has been reduced to zero; (L) to the Class M9 Notes, until the Class Principal Amount of such Class has been reduced to zero; (M) to the Class M10 Notes, until the Class Principal Amount of such Class has been reduced to zero; (N) to the Swap Counterparty, to the extent not previously paid, the Group 1 Percentage of swap termination amounts payable to the Swap Counterparty in the event that the Swap Counterparty is a defaulting party or the sole affected party under the terms of the Swap Agreement; and (O) for application as part of Monthly Excess Cashflow for such Payment Date, as provided for in subsection (e) of this Section, any such Principal Payment Amount for Group 1 remaining after application pursuant to clauses (A) through (N) above.