Common use of Payments of Net Interest Collections and Principal Collections Clause in Contracts

Payments of Net Interest Collections and Principal Collections. Pursuant to Section 3.1 of the Indenture, on each Payment Date, the Paying Agent, with respect to the Notes and the Ownership Interest, shall distribute out of the Collection Account, to the extent of the Available Payment Amount, the following amounts and in the following order of priority to the following Persons (in accordance with the information set forth in the Servicing Certificate):

Payments of Net Interest Collections and Principal Collections. Pursuant to Section 3.1 of the Indenture, on each Payment Date, the Paying Agent, with respect to the Notes and the Ownership Interest, shall distribute out of will pay amounts on deposit in the Collection Account, to the extent of the Available Payment Amount, in the following amounts and in the following order of priority to the following Persons (in accordance with based on the information set forth in the Servicing CertificateCertificates):