Common use of Settlement Date Procedure - Liquidation Period Clause in Contracts

Settlement Date Procedure - Liquidation Period. On each Settlement Date during the Liquidation Period, the Servicer shall distribute from Purchaser's Share of Collections of Pool Receivables received or deemed received pursuant to SECTION 3.02 during the immediately preceding Settlement Period (including, without limitation all Collections then on deposit in the Collection Account) the following amounts in the following order: (1) to the Servicer, if the Servicer is not KBK or any Affiliate thereof, an amount equal to the Servicer's Fee accrued during such preceding Settlement Period, plus any previously accrued Servicer's Fee not paid on a prior Settlement Date; (2) to the Administrator, an amount equal to the Earned Discount accrued during such Settlement Period, plus any previously accrued Earned Discount not paid on a prior Settlement Date, which amount shall be distributed by the Administrator to the Purchaser for application to such Earned Discount; (3) to the Administrator, an amount equal to the Program Fee and Unused Fee accrued during such Settlement Period, plus any previously accrued Program Fee and Unused Fee not paid on a prior Settlement Date; (4) to the Administrator, an amount equal to the remaining Collections until the Purchaser's Total Investment is reduced to zero, which amount shall be distributed by the Administrator to the Purchaser for application to the Purchaser's Total Investment; (5) to the Administrator, all other amounts then due under this Agreement to the Administrator, the Relationship Bank, the Purchaser, the Affected Parties or the Indemnified Parties; (6) to the Servicer, if the Servicer is KBK or any Affiliate thereof, an amount equal to the Servicer's Fee accrued during such Settlement Period, plus any previously accrued Servicer's Fee not paid on a prior Settlement Date; and (7) to the Seller, any remaining amounts.

Settlement Date Procedure - Liquidation Period. On each Settlement Date during the Liquidation Period, the Servicer shall distribute from Purchaser's Share of Collections of Pool Receivables received or deemed received pursuant to SECTION Section 3.02 during the immediately preceding Settlement Period (including, without limitation all Collections then on deposit in the Collection Account) the following amounts in the following order: (1) to the Servicer, if the Servicer is not KBK or any Affiliate thereof, an amount equal to the Servicer's Fee accrued during such preceding Settlement Period, plus any previously accrued Servicer's Fee not paid on a prior Settlement Date; (2) to the Administrator, an amount equal to the Earned Discount accrued during such Settlement Period, plus any previously accrued Earned Discount not paid on a prior Settlement Date, which amount shall be distributed by the Administrator to the Purchaser for application to such Earned Discount; (32) to the Administrator, an amount equal to the Program Fee and Unused Commitment Fee accrued during such Settlement Period, plus any previously accrued Program Fee and Unused Commitment Fee not paid on a prior Settlement Date; (3) to the Servicer, if the Servicer is not Parent, an amount equal to the Purchaser's Share of the Servicer's Fee accrued during such preceding Settlement Period, plus any previously accrued Purchaser's Share of the Servicer's Fee not paid on a prior Settlement Date; (4) to the Administrator, an amount equal to the remaining Purchaser's Share of Collections until the Purchaser's Total Investment Capital is reduced to zero, which amount shall be distributed by the Administrator to the Purchaser for application to the Purchaser's Total InvestmentCapital; (5) to the Administrator, all other amounts (other than Capital) then due under this Agreement to the Administrator, the Relationship Bank, the Purchaser, the Affected Parties or the Indemnified Parties; (6) to the Servicer, if the Servicer is KBK or any Affiliate thereofParent, an amount equal to the Purchaser's Share of the Servicer's Fee accrued during such Settlement Period, plus any previously accrued Purchaser's Share of the Servicer's Fee not paid on a prior Settlement Date; and (7) to the Seller, any remaining amounts.

Settlement Date Procedure - Liquidation Period. On each Settlement Date during occurring after the Liquidation PeriodTermination Date, the Servicer shall distribute from Purchaser's Purchasers' Share of Collections of Pool Receivables received received, or deemed received pursuant to SECTION 3.02 Section 3.02, during the immediately preceding Settlement Period (including, without limitation all Collections then on deposit in the Collection Account) the following amounts in the following order: (1) to the Servicer, if the Servicer is not KBK or any Affiliate thereof, an amount equal to the Servicer's Fee accrued during such preceding Settlement Period, plus any previously accrued Servicer's Fee not paid on a prior Settlement Date; (2) to the Administrator, an amount equal to the Earned Discount accrued during such Settlement Period, plus any previously accrued Earned Discount not paid on a prior Settlement Date, which amount shall be distributed by the Administrator to the each Purchaser for application to the accrued Earned Discount with respect to such Earned DiscountPurchaser's Capital; (32) to the Administrator, an amount equal to the Program Fee and Unused Commitment Fee accrued during such Settlement Period, plus any previously accrued Program Fee and Unused Commitment Fee not paid on a prior Settlement Date; (3) to Servicer, if Servicer is not Parent, an amount equal to the Purchasers' Share of Servicer's Fee accrued during such Settlement Period, plus any previously accrued Purchasers' Share of Servicer's Fee not paid on a prior Settlement Date (it being understood that so long as Servicer is Parent, no amount shall be distributed pursuant to this clause (3)); (4) to the Administrator, an amount equal to the remaining Purchasers' Share of Collections until the Purchaser's Total Investment Capital is reduced to zero, which amount shall be distributed by the Administrator to the Purchaser each Purchaser, based upon such Purchaser's Funded Percentage, for application to the such Purchaser's Total Investmentoutstanding Capital; (5) to the Administrator, all other amounts (other than Capital) then due under this Agreement to the Administrator, the Relationship Bank, the PurchaserPurchasers, the Affected Parties or the Indemnified Parties; (6) to the Servicer, if the Servicer is KBK or any Affiliate thereofParent, an amount equal to the Purchasers' Share of Servicer's Fee accrued during such Settlement Period, plus any previously accrued Purchasers' Share of Servicer's Fee not paid on a prior Settlement DateDate (it being understood that so long as Servicer is not the Parent, no amount shall be distributed pursuant to clause (6)); and (7) to the Seller, any remaining amounts.

Settlement Date Procedure - Liquidation Period. On each Settlement Date during occurring after the Liquidation PeriodTermination Date, the Servicer shall distribute from Purchaser's Purchasers' Share of Collections of Pool Receivables received received, or deemed received pursuant to SECTION 3.02 Section 3.02, during the immediately preceding Settlement Period (including, without limitation all Collections then on deposit in the Collection Account) the following amounts in the following order: (1) to the Servicer, if the Servicer is not KBK or any Affiliate thereof, an amount equal to the Servicer's Fee accrued during such preceding Settlement Period, plus any previously accrued Servicer's Fee not paid on a prior Settlement Date; (2) to the Administrator, an amount equal to the Earned Discount accrued during such Settlement Period, plus any previously accrued Earned Discount not paid on a prior Settlement Date, which amount shall be distributed by the Administrator to the each Purchaser for application to the accrued Earned Discount with respect to such Earned DiscountPurchaser's Capital; (32) to the Administrator, an amount equal to the Program Fee and Unused Commitment Fee accrued during such Settlement Period, plus any previously accrued Program Fee and Unused Commitment Fee not paid on a prior Settlement Date; (3) to Servicer, if Servicer is not Parent, an amount equal to the Purchasers' Share of Servicer's Fee accrued during such Settlement Period, plus any previously accrued Purchasers' Share of Servicer's Fee not paid on a prior Settlement Date (it being understood that so long as Servicer is Parent, no amount shall be distributed pursuant to this clause (3)); (4) to the Administrator, an amount equal to the remaining Purchasers' Share of Collections until the Purchaser's Total Investment Capital is reduced to zero, which amount shall be distributed by the Administrator to the Purchaser each Purchaser, based upon such Purchaser's Funded Percentage, for application to the such Purchaser's Total Investmentoutstanding Capital; (5) to the Administrator, all other amounts (other than Capital) then due under this Agreement to the Administrator, the Relationship Bank, the PurchaserPurchasers, the Affected Parties or the Indemnified Parties; (6) to the Servicer, if the Servicer is KBK or any Affiliate thereofParent, an amount equal to the Purchasers' Share of Servicer's Fee accrued during such Settlement Period, plus any previously accrued Servicer's Fee not paid on a prior Settlement Date; and (7) to the Seller, any remaining amounts.previously

Settlement Date Procedure - Liquidation Period. On each Settlement Date during the Liquidation Period, the Servicer shall distribute distribute, from Purchaser's Share of Collections of Pool Receivables received or deemed received pursuant to SECTION 3.02 during the immediately preceding Available Funds for such Settlement Period (includingDate, without limitation all Collections then on deposit in the Collection Account) the following amounts in the following order: (1) to the Servicer, if the Servicer is not KBK or any Affiliate thereof, an amount equal to the Servicer's Fee accrued during such preceding Settlement Period, plus any previously accrued Servicer's Fee not paid on a prior Settlement Date; (2) to the Administrator, an amount equal to the Earned Discount accrued during such Settlement Period, plus any previously accrued Earned Discount not paid on a prior Settlement Date, which amount shall be distributed by the Administrator to the Purchaser for application to such Earned Discount; (32) to the Administrator, an amount equal to the Program Fee and Unused Commitment Fee accrued during such Settlement Period, plus any previously accrued Program Fee and Unused Commitment Fee not paid on a prior Settlement Date; (3) to the Servicer, if the Servicer is not Seller or one of its Affiliates, an amount equal to the Servicer's Fee accrued during such preceding Settlement Period, to the extent that such Servicer's Fee does not exceed the Servicer's Fee that would have accrued if such Servicer's Fee had been calculated using a Servicer's Fee Rate of 2%; (4) to the Administrator, an amount equal to the any remaining Purchaser's Share of Collections until the Purchaser's Total Investment is reduced to zero, which amount shall be distributed by the Administrator to the Purchaser for application to the Purchaser's Total Investment; (5) to the Administrator, all other amounts then due under this Agreement to the Administrator, the Relationship Bank, the Purchaser, the Affected Parties or the Indemnified Parties; (6) to the Servicer, if the Servicer is KBK or any Affiliate thereof, an amount equal to the Servicer's Fee accrued during such Settlement Period, to the extent not paid pursuant to subparagraph (3) above, plus any previously accrued Servicer's Fee not paid on a prior Settlement Date; and (7) to the Seller, any remaining amounts.

Settlement Date Procedure - Liquidation Period. On each Settlement Date during the Liquidation Period, the Servicer shall distribute from Purchaser's Purchasers' Share of Collections of Pool Receivables received or deemed received pursuant to SECTION 3.02 Section 3.2 during the immediately preceding Settlement Period (including, without limitation all Collections then on deposit in the Collection Account) the following amounts in the following order: (1) to each Agent, an amount equal to the Earned Discount accrued with respect to its related Conduit Purchaser's and Committed Purchasers' Funded Percentage of the Capital during such Settlement Period, plus any previously accrued Earned Discount with respect to its related Conduit Purchaser's and Committed Purchasers' Funded Percentage of the Capital not paid on a prior Settlement Date, which amount shall be distributed by such Agent to its related Conduit Purchaser and Committed Purchasers for application to such Earned Discount (and if there are insufficient funds to pay all of the amounts described in this subparagraph (1), such funds shall be distributed to the Agents, pro rata, on the basis of the amounts due to the Agents pursuant to this subparagraph (1)); (2) to each Agent, an amount equal to the Program Fee and Commitment Fee accrued with respect to its related Conduit Purchaser during such Settlement Period, plus any previously accrued Program Fees and Commitment Fees due to such Agent (or its related Conduit Purchaser) not paid on a prior Settlement Date (and if there are insufficient funds to pay all of the amounts described in this subparagraph (2), such funds shall be distributed to the Agents, pro rata, on the basis of the amounts due to each Agent pursuant to this subparagraph(2)); (3) to the Administrator, an amount equal to the Administration Fee accrued during such Settlement Period, plus any previously accrued Administration Fee not paid on a prior Settlement Date; (4) to the Servicer, if the Servicer is not KBK or any Affiliate thereofParent, an amount equal to the Purchasers' Share of the Servicer's Fee accrued during such preceding Settlement Period, plus any previously accrued Purchasers' Share of the Servicer's Fee not paid on a prior Settlement Date; (2) to the Administrator, an amount equal to the Earned Discount accrued during such Settlement Period, plus any previously accrued Earned Discount not paid on a prior Settlement Date, which amount shall be distributed by the Administrator to the Purchaser for application to such Earned Discount; (3) to the Administrator, an amount equal to the Program Fee and Unused Fee accrued during such Settlement Period, plus any previously accrued Program Fee and Unused Fee not paid on a prior Settlement Date; (45) to the Administrator, an amount equal to the remaining Purchasers' Share of Collections until the Purchaser's Total Investment Capital is reduced to zero, which amount shall be distributed by the Administrator to each Purchaser (on the Purchaser basis of its Funded Percentage of such amount) for application to the such Purchaser's Total InvestmentCapital; (56) to the AdministratorPersons to whom such amounts are payable, all other amounts (other than Capital) then due under this Agreement to the Administrator, the Relationship Bank, the PurchaserPurchasers, the Affected Parties Parties, the Agents or the Indemnified Parties; (67) to the Servicer, if the Servicer is KBK or any Affiliate thereofParent, an amount equal to the Purchasers' Share of the Servicer's Fee accrued during such Settlement Period, plus any previously accrued Purchasers' Share of the Servicer's Fee not paid on a prior Settlement Date; and (7) 8) to the Seller, any remaining amounts.

Settlement Date Procedure - Liquidation Period. On each Weekly ---------------------------------------------- Settlement Date during the Liquidation Period, the Servicer shall distribute from Purchaser's Share of Collections of Pool Receivables received or deemed received pursuant to SECTION Section 3.02 during the immediately preceding Settlement Period in which ------------ such Weekly Settlement Date occurs (includingto the extent not previously distributed pursuant to this Section 3.01(d)), without limitation all Collections then on deposit in the Collection Account) the following amounts in ---------------- the following order: (1) to the Servicer, if the Servicer is not KBK or any Affiliate thereof, an amount equal to the Servicer's Fee accrued during such preceding Settlement Period, plus any previously accrued Servicer's Fee not paid on a prior Settlement Date; (2) to the Administrator, an amount equal to the Earned Discount accrued during the Earned Discount Period ending on such Weekly Settlement Date on the portion of the Capital allocated to such Earned Discount Period, plus any previously accrued Earned ---- Discount not paid on a any prior Weekly Settlement DateDate that remains unpaid, which amount shall be distributed by the Administrator to the Purchaser for application to such Earned Discount; (32) if such Weekly Settlement Date is also a Monthly Settlement Date, to the Administrator, an amount equal to the Program Fee and Unused Commitment Fee accrued during the Settlement Period ending on such Monthly Settlement PeriodDate, plus any previously accrued Program Fee and Unused ---- Commitment Fee not paid on a prior Monthly Settlement Date that remain unpaid; (3) if such Weekly Settlement Date is also a Monthly Settlement Date, to the Servicer, if the Servicer is not Parent, an amount equal to the Purchaser's Share of the Servicer's Fee accrued during the Settlement Period ending on such Monthly Settlement Date, plus any ---- previously accrued Purchaser's Share of the Servicer's Fee not paid on a prior Monthly Settlement Date that remains unpaid; (4) to the Administrator, an amount equal to the remaining Purchaser's Share of Collections until the Purchaser's Total Investment Capital is reduced to zero, which amount shall be distributed by the Administrator to the Purchaser for application to the Purchaser's Total InvestmentCapital; (5) to the Administrator, all other amounts (other than Capital) then due under this Agreement to the Administrator, the Relationship Bank, the Purchaser, the Affected Parties or the Indemnified Parties; (6) if such Weekly Settlement Date is also a Monthly Settlement Date, to the Servicer, if the Servicer is KBK or any Affiliate thereofParent, an amount equal to the Purchaser's Share of the Servicer's Fee accrued during the Settlement Period ending on such Monthly Settlement PeriodDate, plus any ---- previously accrued Purchaser's Share of the Servicer's Fee not paid on a prior Monthly Settlement DateDate that remains unpaid; and (7) if such Weekly Settlement Date is also a Monthly Settlement Date, to the Seller, any remaining amounts.

Settlement Date Procedure - Liquidation Period. On each Settlement Date during the Liquidation Period, the Servicer shall distribute transfer from Purchaser's Share of Collections of Pool Receivables received or deemed received pursuant to SECTION 3.02 during the immediately preceding Settlement Period (including, without limitation all Collections then on deposit in the Collection Account) the following amounts Account all Available Funds, and shall apply such amount in the following order: (1) to the Servicer, if Administrator on behalf of the Servicer is not KBK or any Affiliate thereofPurchaser, an amount equal to the Servicer's Fee accrued during such preceding Settlement Period, plus any previously accrued Servicer's Fee not paid on a prior Settlement Date; (2i) to the Administrator, an amount equal to the Earned Discount accrued during such Settlement Period, plus any previously accrued Earned Discount not paid on a prior Settlement Date, which amount shall be distributed by and (ii) Program Fees accrued during such Settlement Period, plus any previously accrued Program Fees and not paid on a prior Settlement Date; (2) to the Administrator on behalf of the Purchaser, an amount equal to the Purchaser for application to Unused Program Fees accrued during such Earned DiscountSettlement Period, plus any previously accrued Unused Program Fees not paid on a prior Settlement Date; (3) to the Administrator, an amount equal to the Program Fee and Unused Fee accrued during such Settlement Period, plus any previously accrued Program Fee and Unused Fee not paid on a prior Settlement Date; (4) to the Administrator, an amount equal to the remaining Purchaser’s Share of Collections until the Purchaser's Total Investment Senior Investor Balance is reduced to zero, which amount shall be distributed by the Administrator to the Purchaser for application to the Purchaser's Total InvestmentSenior Investor Balance; (4) to the Servicer, an amount equal to the Servicer’s Fee for such preceding Due Period, plus any previously accrued and unpaid Servicer’s Fee for the payment of the accrued and unpaid Servicer’s Fees; (5) to the Administrator, all other amounts then due under this Agreement to the Administrator, the Relationship Bank, the Purchaser, the Affected Parties or the Indemnified Parties;; and (6) to to, or at the Servicerdirection of, if the Servicer is KBK or any Affiliate thereof, an amount equal to the Servicer's Fee accrued during such Settlement Period, plus any previously accrued Servicer's Fee not paid on a prior Settlement Date; and (7) to the Seller, Seller any remaining amounts.

Settlement Date Procedure - Liquidation Period. On each Monthly Settlement Date during the Liquidation Period, the Servicer shall distribute from Purchaser's Purchasers' Share of Collections of Pool Receivables received or deemed received pursuant to SECTION Section 3.02 during the immediately preceding Settlement Period (including, without limitation all Collections then ending on deposit in the Collection Account) such Monthly Settlement Date the following amounts in the following order: (1) to the Servicer, if the Servicer is not KBK or any Affiliate thereof, an amount equal to the Servicer's Fee accrued during such preceding Settlement Period, plus any previously accrued Servicer's Fee not paid on a prior Settlement Date; (2) to the Administratoreach Agent, an amount equal to the Earned Discount accrued during the Earned Discount Period ending on such Monthly Settlement Date with respect to its related Purchaser's Funded Share of the Capital allocated to such Earned Discount Period, plus any previously accrued Earned Discount with respect to its related Purchaser's Funded Share of th Capital not paid on a any prior Monthly Settlement DateDate that remains unpaid, which amount shall be distributed by the Administrator such Agent to the its related Purchaser for application to such Earned DiscountDiscount (and if there are insufficient funds to pay all of the amounts described in this subparagraph (1), such funds shall be distributed to the Agents, pro rata, on the basis of the amounts due to the Agents pursuant to this subparagraph (1)); (32) to the Administratoreach Agent, an amount equal to the Program Fee and Unused Commitment Fee accrued with respect to its related Purchaser during the Settlement Period ending on such Monthly Settlement PeriodDate, plus any previously accrued Program Fee and Unused Commitment Fee not paid on a prior Monthly Settlement Date (and if there are insufficient funds to pay all of the amounts described in this subparagraph (2), such funds shall be distributed to the Agents, pro rata, on the basis of the amounts due to each Agent pursuant to this subparagraph (2)); (3) to the Servicer, if the Servicer is not Parent, an amount equal to the Purchasers' Share of the Servicer's Fee accrued during the Settlement Period ending on such Monthly Settlement Date, plus any previously accrued Purchasers' Share of the Servicer's Fee not paid on a prior Monthly Settlement Date that remains unpaid; (4) to the Administrator, an amount equal to the remaining Purchasers' Share of Collections until the Purchaser's Total Investment Capital is reduced to zero, which amount shall be distributed by the Administrator ratably to each Purchaser (on the Purchaser basis of its Funded Share of such amount) for application to the such Purchaser's Total InvestmentCapital; (5) to the Administrator, all other amounts (other than Capital) then due under this Agreement to the Administrator, the Relationship Bankany Agent, the any Purchaser, the Affected Parties or the Indemnified Parties; (6) to the Servicer, if the Servicer is KBK or any Affiliate thereofParent, an amount equal to the Purchasers' Share of the Servicer's Fee accrued during the Settlement Period ending on such Monthly Settlement PeriodDate, plus any previously accrued Purchasers' Share of the Servicer's Fee not paid on a prior Monthly Settlement DateDate that remains unpaid; and (7) to the Seller, any remaining amounts.

Settlement Date Procedure - Liquidation Period. On each Settlement ---------------------------------------------- Date during the Liquidation Period, the Servicer shall distribute distribute, from Purchaser's Share of Collections of Pool Receivables received or deemed received pursuant to SECTION 3.02 during the immediately preceding Available Funds for such Settlement Period (includingDate, without limitation all Collections then on deposit in the Collection Account) the following amounts in the following order: (1) to the Servicer, if the Servicer is not KBK or any Affiliate thereof, an amount equal to the Servicer's Fee accrued during such preceding Settlement Period, plus any previously accrued Servicer's Fee not paid on a prior Settlement Date; (2) to the Administrator, an amount equal to the Earned Discount accrued during such Settlement Period, plus any previously accrued Earned Discount not paid on a prior Settlement Date, which amount shall be distributed by the Administrator to the Purchaser for application to such Earned Discount; (32) to the Administrator, an amount equal to the Program Fee and Unused Commitment Fee accrued during such Settlement Period, plus any previously accrued Program Fee and Unused Commitment Fee not paid on a prior Settlement Date; (3) to the Servicer, if the Servicer is not Seller or one of its Affiliates, an amount equal to the Servicer's Fee accrued during such preceding Settlement Period, to the extent that such Servicer's Fee does not exceed the Servicer's Fee that would have accrued if such Servicer's Fee had been calculated using a Servicer's Fee Rate of 2%; (4) to the Administrator, an amount equal to the any remaining Purchaser's Share of Collections until the Purchaser's Total Investment is reduced to zero, which amount shall be distributed by the Administrator to the Purchaser for application to the Purchaser's Total Investment; (5) to the Administrator, all other amounts then due under this Agreement to the Administrator, the Relationship Bank, the Purchaser, the Affected Parties or the Indemnified Parties; (6) to the Servicer, if the Servicer is KBK or any Affiliate thereof, an amount equal to the Servicer's Fee accrued during such Settlement Period, to the extent not paid pursuant to subparagraph (3) above, plus any previously accrued Servicer's Fee ---------------- not paid on a prior Settlement Date; and (7) to the Seller, any remaining amounts.