Common use of Prefunding Period Clause in Contracts

Prefunding Period. At or before 9:00 A.M. New York City time, on each Transfer Date for a transfer of Subsequent Timeshare Loans, (x) the Depositor shall instruct Paying Agent in writing to withdraw the cash portion of the purchase price from the Prefunding Account which is an amount equal to 88% of the Cut-Off Date Loan Balance of the Subsequent Timeshare Loans transferred to the Issuer and to be pledged to the Indenture Trustee as part of the Trust Estate and (y) subject to 21

Prefunding Period. At or before 9:00 A.M. New York City time, on each Transfer Date for a transfer of Subsequent Timeshare Loans, the Issuer shall instruct the Indenture Trustee in writing (x) the Depositor shall instruct Paying Agent in writing to withdraw the cash portion of the purchase price from the Prefunding Account which is an amount equal to 8891% of the Cut-Off Date aggregate Timeshare Loan Balance Acquisition Price of the Subsequent Timeshare Loans transferred to the Issuer and to be pledged to the Indenture Trustee as part of the Trust Estate and (y) subject to 21satisfaction of the conditions specified in Section 4.2 hereof, shall distribute such amounts to the Issuer.

Prefunding Period. At or before 9:00 A.M. New York City time, on each Transfer Date for a transfer of Subsequent Timeshare Loans, the Issuer shall instruct the Indenture Trustee in writing (x) the Depositor shall instruct Paying Agent in writing to withdraw the cash portion of the purchase price from the Prefunding Account which is an amount equal to 8891% of the Cut-Off Date Loan Balance of the Subsequent Timeshare Loans transferred to the Issuer and to be pledged to the Indenture Trustee as part of the Trust Estate and (y) subject to 21satisfaction of the conditions specified in Section 4.2 hereof, shall distribute such amounts to the Issuer.