Common use of Spread Account Draws Clause in Contracts

Spread Account Draws. (i) At the written direction of the Servicer and to the extent that Series 2010-1 Available Interest Amounts (without giving effect to clause (vi) of the definition thereof) are insufficient to pay in full the amounts set forth in Sections 3.01(a)(ii), (iii) and (iv), the Indenture Trustee shall withdraw funds from the Series 2010-1 Spread Account in an amount equal to the lesser of (A) the amount of such shortfall and (B) the amount on deposit in the Series 2010-1 Spread Account (after giving effect to any withdrawals from the Series 2010-1 Spread Account on such Transfer Date other than a withdrawal pursuant to Sections 3.01(c)(i), (ii) and (iii) on such date), and treat such funds as “Series 2010-1 Available Interest Amounts.” (ii) At the written direction of the Servicer and to the extent that Series 2010-1 Available Interest Amounts (without giving effect to clause (vi) of the definition thereof) are insufficient to pay in full the amount described in Section 3.01(a)(vi) and Series 2010-1 is in the Early Redemption Period, the Indenture Trustee shall withdraw funds from the Series 2010-1 Spread Account in an amount equal to the lesser of (A) the amount of such shortfall and (B) the amount on deposit in the Series 2010-1 Spread Account (after giving effect to any withdrawals from the Series 2010-1 Spread Account on such Transfer Date) and treat such funds as “Series 2010-1 Available Interest Amounts.” (iii) In addition, after applying funds on deposit in the Spread Account pursuant to Sections 3.01(c)(i) and (ii), on the Legal Final Maturity Date, if the Outstanding Principal Amount of any Series 2010-1 Notes remains greater than zero, the Indenture Trustee shall, at the written direction of the Servicer, apply funds from the Spread Account to repay the Outstanding Principal Amount of such Series 2010-1 Notes in full, first, to the Class A Noteholders (up to a maximum of the Class A Outstanding Principal Amount on such Payment Date), second, to the Class B Noteholders (up to a maximum of the Class B Outstanding Principal Amount on such Payment Date), and third, to the Class C Noteholders (up to a maximum of the Class C Outstanding Principal Amount on such Payment Date).

Spread Account Draws. (i) At On any Transfer Date, at the written direction of the Servicer and to the extent that Series 2010-1 VFN Available Interest Amounts (without giving effect to clause (viv) of the definition thereof) are insufficient to pay in full the amounts set forth in Sections Section 3.01(a)(ii), (iii) and (iv), the Indenture Trustee shall withdraw funds from the Series 2010-1 VFN Spread Account in an amount equal to the lesser of (A) the amount of such shortfall and (B) the amount on deposit in the Series 2010-1 VFN Spread Account (after giving effect to any withdrawals from the Series 2010-1 VFN Spread Account on such Transfer Date other than a withdrawal pursuant to Sections 3.01(c)(i), (ii) and (iii) on such date), ) and treat such funds as “Series 2010-1 VFN Available Interest Amounts.” (ii) At If the Series 2010-VFN Notes are in an Early Redemption Period, at the written direction of the Servicer and to the extent that Series 2010-1 VFN Available Interest Amounts (without giving effect to clause (viv) of the definition thereof) are insufficient to pay in full the amount described in Section 3.01(a)(vi) and Series 2010-1 is in the Early Redemption Period3.01(a)(iv), the Indenture Trustee shall withdraw funds from the Series 2010-1 VFN Spread Account in an amount equal to the lesser of (A) the amount of such shortfall and (B) the amount on deposit in the Series 2010-1 VFN Spread Account (after giving effect to any withdrawals from the Series 2010-1 VFN Spread Account on such Transfer Date) and treat such funds as “Series 2010-1 VFN Available Interest Amounts.” (iii) In On the Legal Final Maturity Date, in addition, after applying funds on deposit in the Spread Account pursuant to Sections 3.01(c)(i) and (ii), on the Legal Final Maturity Date, if the Series 2010-VFN Outstanding Principal Amount of any Series 2010-1 Notes remains greater than zero, the Indenture Trustee shall, at the written direction of the Servicer, apply funds from the Spread Account to repay the Series 2010-VFN Outstanding Principal Amount of such Series 2010-1 Notes in full, first, to the Class A Noteholders (up to a maximum of the Class A Outstanding Principal Amount on such Payment Date), second, to the Class B Noteholders (up to a maximum of the Class B Outstanding Principal Amount on such Payment Date), together with any unpaid Non-Use Fees and third, to the Class C Noteholders (up to a maximum of the Class C Outstanding Principal Amount on such Payment Date)Additional Amounts.

Spread Account Draws. (i) At On any Transfer Date, at the written direction of the Servicer and to the extent that Series 20102012-1 VFN Available Interest Amounts (without giving effect to clause (vi) of the definition thereofthereofof Series 2012-VFN Noteholder Available Interest Amounts) are insufficient to pay in full the amounts set forth in Sections Section 3.01(a)(ii), (iii) and (iv), the Indenture Trustee shall withdraw funds from the Series 20102012-1 VFN Spread Account in an amount equal to the lesser of (A) the amount of such shortfall and (B) the amount on deposit in the Series 20102012-1 VFN Spread Account (after giving effect to any withdrawals from the Series 20102012-1 VFN Spread Account on such Transfer Date other than a withdrawal pursuant to Sections 3.01(c)(i), (ii) and (iii) on such date), ) and treat such funds as “Series 20102012-1 VFN Noteholder Available Interest Amounts.” (ii) At If the Series 2012-VFN Notes are in an Early Redemption Period, at the written direction of the Servicer and to the extent that Series 20102012-1 VFN Available Interest Amounts (without giving effect to clause (vi) of the definition thereofthereof)of Series 2012-VFN Noteholder Available Interest Amounts (except for the application of funds on deposit in the Spread Account pursuant to Section 3.01(c)(i))) are insufficient to pay in full the amount described in Section 3.01(a)(vi) and Series 2010-1 is in the Early Redemption Period3.01(a)(iv), the Indenture Trustee shall withdraw funds from the Series 20102012-1 VFN Spread Account in an amount equal to the lesser of (A) the amount of such shortfall and (B) the amount on deposit in the Series 20102012-1 VFN Spread Account (after giving effect to any withdrawals from the Series 20102012-1 VFN Spread Account on such Transfer Date) and treat such funds as “Series 20102012-1 VFN Noteholder Available Interest Amounts.” (iii) In On the Series 2012-VFN Termination Date, in addition, after applying funds on deposit in the Spread Account pursuant to Sections 3.01(c)(i) and (ii), on the Legal Final Maturity Date, if the Series 2012-VFN Outstanding Principal Amount of any Series 2010-1 Notes remains greater than zero, the Indenture Trustee shall, at the written direction of the Servicer, apply funds from the Spread Account to repay the Series 2012-VFN Outstanding Principal Amount of such Series 2010-1 Notes in full, first, to the Class A Noteholders (up to a maximum of the Class A Outstanding Principal Amount on such Payment Date), second, to the Class B Noteholders (up to a maximum of the Class B Outstanding Principal Amount on such Payment Date), together with any unpaid Non-Use Fees and third, to the Class C Noteholders (up to a maximum of the Class C Outstanding Principal Amount on such Payment Date)Additional Amounts.

Spread Account Draws. (i) At the written direction of the Servicer and to the extent that Series 20102009-1 Available Interest Amounts (without giving effect to clause (vi) of the definition thereof) are insufficient to pay in full the amounts set forth in Sections 3.01(a)(ii), (iii) and (iv), the Indenture Trustee shall withdraw funds from the Series 20102009-1 Spread Account in an amount equal to the lesser of (A) the amount of such shortfall and (B) the amount on deposit in the Series 20102009-1 Spread Account (after giving effect to any withdrawals from the Series 20102009-1 Spread Account on such Transfer Date other than a withdrawal pursuant to Sections 3.01(c)(i), (ii) and (iii) on such date), and treat such funds as “Series 20102009-1 Available Interest Amounts.” (ii) At the written direction of the Servicer and to the extent that Series 20102009-1 Available Interest Amounts (without giving effect to clause (vi) of the definition thereof) are insufficient to pay in full the amount described in Section 3.01(a)(vi) and Series 20102009-1 is in the Early Redemption Period, the Indenture Trustee shall withdraw funds from the Series 20102009-1 Spread Account in an amount equal to the lesser of (A) the amount of such shortfall and (B) the amount on deposit in the Series 20102009-1 Spread Account (after giving effect to any withdrawals from the Series 20102009-1 Spread Account on such Transfer Date) and treat treated such funds as “Series 20102009-1 Available Interest Amounts.” (iii) In addition, after applying funds on deposit in the Spread Account pursuant to Sections 3.01(c)(i) and (ii), on the Legal Final Maturity Date, if the Outstanding Principal Amount of any Series 20102009-1 Notes remains greater than zero, the Indenture Trustee shall, at the written direction of the Servicer, apply funds from the Spread Account to repay the Outstanding Principal Amount of such Series 20102009-1 Notes in full, first, to the Class A Noteholders (up to a maximum of the Class A Outstanding Principal Amount on such Payment Date), second, to the Class B Noteholders (up to a maximum of the Class B Outstanding Principal Amount on such Payment Date), and third, to the Class C Noteholders (up to a maximum of the Class C Outstanding Principal Amount on such Payment Date).