SOURCES OF APPLICATIONS AND PAYMENTS Sample Clauses

SOURCES OF APPLICATIONS AND PAYMENTS. Applications and/or payments of amounts allocated pursuant to the priorities set forth in Section 3.01(c) above will be made from the following sources in the following order of priority: (i) Available Interest, to the extent thereof; (ii) in the case of Section 3.01(c) clauses (i), (ii), (iii), (viii), (ix) or (ix), amounts withdrawn from the Reserve Fund to the extent of the lesser of (A) the amount on deposit in the Reserve Fund on the related Deposit Date and available therefor and (B) the amount, if any, by which the aggregate of amounts allocable and applicable or payable pursuant to such clauses (i), (ii), (iii), (viii) or (ix) exceeds the amount of Available Interest available to make such allocation and application or payment based on the foregoing priorities; PROVIDED, HOWEVER, that amounts allocated to the Class B Reserve Amount shall be utilized only if there are no other amounts then on deposit in the Reserve Fund and shall be available exclusively for payment of accrued and unpaid interest with respect to the Class B Certificates, and on the Class B Targeted Maturity Date, for reduction of the Adjusted Class B Certificate Balance until the Adjusted Class B Certificate Balance has been reduced to zero; and PROVIDED, FURTHER, that if such Monthly Allocation Date is a relevant Certificate Payment Date that is on or after the Class B Targeted Maturity Date, amounts then remaining amounts on deposit in the Reserve Fund shall be used to repay any unreimbursed Maturity Advances and to reduce the Adjusted Certificate Balance of each Class of Investor Certificates then outstanding to zero, to the extent available therefor; and (iii) in the case of Section 3.01(c) clauses (i) through (ix) and, to the extent set forth in Sections 3.01(i)(ii) and 3.01(i)(iii), Transferor Amounts.
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Related to SOURCES OF APPLICATIONS AND PAYMENTS

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