Common use of Settlement Period Procedure - Termination Period Clause in Contracts

Settlement Period Procedure - Termination Period. On each Business Day during the Termination Period, Servicer shall, immediately upon receipt or deemed receipt thereof, deposit in a Lockbox Account, all Collections received or deemed received pursuant to Section 3.2 on such Business Day and all Collections so received or deemed received during each Settlement Period during the Termination Period shall be distributed by the Servicer or the Administrator (to the extent that such funds are in its possession) on each Settlement Date in the following amounts and in the following order: (1) to the Administrator, for the account of the Purchasers in accordance with their respective Pro Rata Shares, an amount equal to the Yield accrued during such Settlement Period, plus any previously accrued Yield not paid on a prior Settlement Date, which amount shall be distributed by the Administrator to the Purchasers for application to such Yield; (2) to the Administrator, an amount equal to the Fees accrued during such Settlement Period, plus any previously accrued Fees not paid on a prior Settlement Date which amount shall be distributed by Servicer to all Persons to whom payable; (3) to the Servicer, 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; (4) to the Administrator, for the account of the Purchasers in accordance with their respective Pro Rata Shares, an amount equal to the remaining Purchasers’ Share of Collections, until the Capital is reduced to zero, which amount shall be distributed by the Administrator to the Purchasers for application to their respective Pro Rata Shares of the Capital; (5) to the Administrator, all other amounts (other than Capital) then due under this Agreement and the other Transaction Documents to the Administrator, the Purchasers, the Affected Parties or the Indemnified Parties; and (6) to the Seller, any remaining amounts.

Settlement Period Procedure - Termination Period. On each Business Day during the Termination Period, Servicer shall, immediately upon receipt or deemed receipt thereof, deposit in a Lockbox Account, all Collections received or deemed received pursuant to Section 3.2 on such Business Day and all Collections so received or deemed received during each Settlement Period during the Termination Period shall be distributed by the Servicer or the Administrator (to the extent that such funds are in its possession) on each Settlement Date in the following amounts and in the following order: (1) to the Administrator, for the account of the Purchasers in accordance with their respective Pro Rata Shares, an amount equal to the Yield accrued during such Settlement Period, plus any previously accrued Yield not paid on a prior Settlement Date, which amount shall be distributed by the Administrator to the Purchasers for application to such Yield; (2) to the Administrator, an amount equal to the Fees accrued during such Settlement Period, plus any previously accrued Fees not paid on a prior Settlement Date which amount shall be distributed by Servicer to all Persons to whom payable; (3) to the Servicer, an amount equal to the Purchasers’ ' Share of the Servicer’s 's Fee accrued during such Settlement Period, plus any previously accrued Purchasers’ ' Share of the Servicer’s 's Fee not paid on a prior Settlement Date; (4) to the Administrator, for the account of the Purchasers in accordance with their respective Pro Rata Shares, an amount equal to the remaining Purchasers’ ' Share of Collections, until the Capital is reduced to zero, which amount shall be distributed by the Administrator to the Purchasers for application to their respective Pro Rata Shares of the Capital; (5) to the Administrator, all other amounts (other than Capital) then due under this Agreement and the other Transaction Documents to the Administrator, the Purchasers, the Affected Parties or the Indemnified Parties; and (6) to the Seller, any remaining amounts.