Common use of Retained Distribution Account Clause in Contracts

Retained Distribution Account. On each Payment Date, the Master Servicer or, if the Master Servicer shall fail to do so, the Series 2003-1 Insurer may, in its sole discretion, instruct the Trustee in writing to instruct the Paying Agent to transfer to the Retained Distribution Account (established pursuant to Section 4.1(b) of the Base Indenture) (i) all funds which are in the Collection Account that have been allocated to the Retained Distribution Account as of such Payment Date and (ii) all funds that were previously allocated to the Retained Distribution Account but not transferred to the Retained Distribution Account. If the Series 2003-1 Insurer elects in its sole discretion, to provide to the Trustee any direction under this Section 4.11, the Series 2003-1 Insurer shall provide to the Master Servicer one (1) Business Day prior written notice thereof; provided, that the failure of the Series 2003-1 Insurer to provide such notice to the Master Servicer shall not affect the Series 2003-1 Insurer's right to provide instruction to the Trustee.

Retained Distribution Account. On each Payment Date, the Master Servicer or, if the Master Servicer shall fail to do so, the Series 20032002-1 Insurer may, in its sole discretion, instruct the Trustee in writing to instruct the Paying Agent to transfer to the Retained Distribution Account (established pursuant to Section 4.1(b) of the Base Indenture) (i) all funds which are in the Collection Account that have been allocated to the Retained Distribution Account as of such Payment Date and (ii) all funds that were previously allocated to the Retained Distribution Account but not transferred to the Retained Distribution Account. If the Series 20032002-1 Insurer elects in its sole discretion, to provide to the Trustee any direction under this Section 4.11, the Series 20032002-1 Insurer shall provide to the Master Servicer one (1) Business Day prior written notice thereof; provided, that the failure of the Series 20032002-1 Insurer to provide such notice to the Master Servicer shall not affect effect the Series 20032002-1 Insurer's right to provide instruction to the Trustee.

Retained Distribution Account. On each Payment Date, the Master Servicer or, if the Master Servicer shall fail to do so, the Series 20032007-1 Insurer may, in its sole discretion, instruct the Trustee in writing to instruct the Paying Agent to transfer to the Retained Distribution Account (established pursuant to Section 4.1(b) of the Base Indenture) (i) all funds which are in the Collection Account that have been allocated to the Retained Distribution Account as of such Payment Date and (ii) all funds that were previously allocated to the Retained Distribution Account but not transferred to the Retained Distribution Account. If the Series 20032007-1 Insurer elects in its sole discretion, to provide to the Trustee any direction under this Section 4.11, the Series 20032007-1 Insurer shall provide to the Master Servicer one (1) Business Day prior written notice thereof; provided, that the failure of the Series 20032007-1 Insurer to provide such notice to the Master Servicer shall not affect effect the Series 20032007-1 Insurer's ’s right to provide instruction to the Trustee.

Retained Distribution Account. On each Payment Date, the Master Servicer or, if the Master Servicer shall fail to do so, the Series 20032004-1 Insurer may, in its sole discretion, instruct the Trustee in writing to instruct the Paying Agent to transfer to the Retained Distribution Account (established pursuant to Section 4.1(b) of the Base Indenture) (i) all funds which are in the Collection Account that have been allocated to the Retained Distribution Account as of such Payment Date and (ii) all funds that were previously allocated to the Retained Distribution Account but not transferred to the Retained Distribution Account. If the Series 20032004-1 Insurer elects in its sole discretion, to provide to the Trustee any direction under this Section 4.11, the Series 20032004-1 Insurer shall provide to the Master Servicer one (1) Business Day prior written notice thereof; provided, that the failure of the Series 20032004-1 Insurer to provide such notice to the Master Servicer shall not affect effect the Series 20032004-1 Insurer's right to provide instruction to the Trustee.

Retained Distribution Account. On each Payment Date, the Master Servicer or, if the Master Servicer shall fail to do so, the Series 20032006-1 Insurer may, in its sole discretion, instruct the Trustee in writing to instruct the Paying Agent to transfer to the Retained Distribution Account (established pursuant to Section 4.1(b) of the Base Indenture) (i) all funds which are in the Collection Account that have been allocated to the Retained Distribution Account as of such Payment Date and (ii) all funds that were previously allocated to the Retained Distribution Account but not transferred to the Retained Distribution Account. If the Series 20032006-1 Insurer elects in its sole discretion, to provide to the Trustee any direction under this Section 4.11, the Series 20032006-1 Insurer shall provide to the Master Servicer one (1) Business Day prior written notice thereof; provided, that the failure of the Series 20032006-1 Insurer to provide such notice to the Master Servicer shall not affect effect the Series 20032006-1 Insurer's ’s right to provide instruction to the Trustee.

Retained Distribution Account. On each Payment Date, the Master Servicer or, if the Master Servicer shall fail to do so, the Series 20032005-1 Insurer may, in its sole discretion, instruct the Trustee in writing to instruct the Paying Agent to transfer to the Retained Distribution Account (established pursuant to Section 4.1(b) of the Base Indenture) (i) all funds which are in the Collection Account that have been allocated to the Retained Distribution Account as of such Payment Date and (ii) all funds that were previously allocated to the Retained Distribution Account but not transferred to the Retained Distribution Account. If the Series 20032005-1 Insurer elects in its sole discretion, to provide to the Trustee any direction under this Section 4.11, the Series 20032005-1 Insurer shall provide to the Master Servicer one (1) Business Day prior written notice thereof; provided, that the failure of the Series 20032005-1 Insurer to provide such notice to the Master Servicer shall not affect effect the Series 20032005-1 Insurer's ’s right to provide instruction to the Trustee.