Common use of Revenue Priority of Payments Clause in Contracts

Revenue Priority of Payments. If there is a deficit, then Funding 1 shall pay or provide for that deficit by the application of Funding 1 Available Principal Receipts (plus any part of the balance of the Cash Accumulation Ledger which is not comprised in Funding 1 Principal Receipts), if any, and the Cash Manager shall make a corresponding entry in the relevant Funding 1 Principal Deficiency Sub-Ledger as well as making a debit in the Funding 1 Principal Ledger. Any such entry and debit shall be made and taken into account (including as to which Funding 1 Priority of Payments shall apply) prior to the application of Funding 1 Available Principal Receipts on the relevant Funding 1 Interest Payment Date. Funding 1 may only apply Funding 1 Principal Receipts towards covering a revenue shortfall on: