Common use of Spread Account Clause in Contracts

Spread Account. (a) On or prior to the Closing Date, the Depositor will deposit an amount equal to the Spread Account Initial Deposit into the Spread Account from the proceeds of the Notes. On each Distribution Date, to the extent of funds available therefor pursuant to the priority of payments, amounts will be deposited into the Spread Account in accordance with Section 5.7(a)(xii) until the amount on deposit therein is equal to the Spread Account Requirement. (b) In the event that the Servicer's Certificate with respect to any Determination Date states that there is a Spread Account Draw Amount, then on the related Distribution Date, the Indenture Trustee will withdraw such Spread Account Draw Amount from the Spread Account to the extent of funds on deposit therein and deposit such amount into the Collection Account for distribution in accordance with Section 5.7(a). (c) After considering all required distributions made on a Distribution Date, amounts on deposit in the Spread Account on that Distribution Date that are in excess of the Spread Account Requirement for that Distribution Date will be applied by the Indenture Trustee in accordance with Section 5.7(a)(x), then 5.7(a)(xiii) through (xv).

Spread Account. (a) On or prior to the Closing Date, the Depositor will deposit an amount equal to the Spread Account Initial Deposit into the Spread Account from the proceeds of the Notes. On each Distribution Date, to the extent of funds available therefor pursuant to the priority of payments, amounts will be deposited into the Spread Account in accordance with Section 5.7(a)(xii5.7(a)(ix) until the amount on deposit therein is equal to the Spread Account Requirement. (b) In the event that the Servicer's Certificate with respect to any Determination Date states that there is a Spread Account Draw Amount, then on the related Distribution Date, the Indenture Trustee will withdraw such Spread Account Draw Amount from the Spread Account to the extent of funds on deposit therein and deposit such amount into the Collection Account for distribution in accordance with Section 5.7(a). (c) After considering all required distributions made on a Distribution Date, amounts on deposit in the Spread Account on that Distribution Date that are in excess of the Spread Account Requirement for that Distribution Date will be applied by the Indenture Trustee in accordance with Section 5.7(a)(x5.7(a)(vii), then 5.7(a)(xiii5.7(a)(x) through (xvxii).

Spread Account. (a) On or prior to the Closing Date, the Depositor will deposit an amount equal to the Spread Account Initial Deposit into the Spread Account from the proceeds of the Notes. On each Distribution Date, to the extent of funds available therefor pursuant to the priority of payments, amounts will be deposited into the Spread Account in accordance with Section 5.7(a)(xii5.7(a)(x) until the amount on deposit therein is equal to the Spread Account Requirement. (b) In the event that the Servicer's ’s Certificate with respect to any Determination Date states that there is a Spread Account Draw Amount, then on the related Distribution Date, the Indenture Trustee will withdraw such Spread Account Draw Amount from the Spread Account to the extent of funds on deposit therein and deposit such amount into the Collection Account for distribution in accordance with Section 5.7(a). (c) After considering all required distributions made on a Distribution Date, amounts on deposit in the Spread Account on that Distribution Date that are in excess of the Spread Account Requirement for that Distribution Date will be applied by the Indenture Trustee in accordance with Section 5.7(a)(x5.7(a)(viii), then 5.7(a)(xiii5.7(a)(xi) through (xvxiv).

Spread Account. (a) On or prior to the Closing Date, the Depositor will deposit an amount equal to the Spread Account Initial Deposit into the Spread Account from the proceeds of the Notes. On each Distribution Date, to the extent of funds available therefor pursuant to the priority of payments, amounts will be deposited into the Spread Account in accordance with Section 5.7(a)(xii5.7(a)(ix) until the amount on deposit therein is equal to the Spread Account Requirement. (b) In the event that the Servicer's ’s Certificate with respect to any Determination Date states that there is a Spread Account Draw Amount, then on the related Distribution Date, the Indenture Trustee will withdraw such Spread Account Draw Amount from the Spread Account to the extent of funds on deposit therein and deposit such amount into the Collection Account for distribution in accordance with Section 5.7(a). (c) After considering all required distributions made on a Distribution Date, amounts on deposit in the Spread Account on that Distribution Date that are in excess of the Spread Account Requirement for that Distribution Date will be applied by the Indenture Trustee in accordance with Section 5.7(a)(x5.7(a)(vii), then 5.7(a)(xiii5.7(a)(x) through (xvxii).

Spread Account. (a) On or prior to the Closing Date, the Depositor Seller will deposit an amount equal to the Spread Account Initial Deposit into the Spread Account from the proceeds of the Notes. On each Distribution Date, to the extent of funds available therefor pursuant to the priority of payments, amounts will be deposited into the Spread Account in accordance with Section 5.7(a)(xii5.7(b)(xii) until the amount on deposit therein is equal to the Spread Account Requirement. (b) In the event that the Servicer's Certificate with respect to any Determination Date states that there is a Spread Account Draw Amount, Amount then on the related Distribution Date, the Indenture Trustee will withdraw such Spread Account Draw Amount from the Spread Account to the extent of funds on deposit therein and deposit such amount into the Collection Account for distribution in accordance with Section 5.7(a5.7(b). (c) After considering all required distributions made on a Distribution Date, amounts on deposit in the Spread Account on that Distribution Date that are in excess of the Spread Account Requirement for that Distribution Date will be applied by the Indenture Trustee in accordance with Section 5.7(a)(x5.7(b)(x), then 5.7(a)(xiii5.7(b)(xiii) through (xv).