Common use of The Revolving Facility Clause in Contracts

The Revolving Facility. With respect to the Revolving Facility Pool (based on the information contained in the related Monthly Revolving Facility Report), on each Payment Date following the occurrence of a Facility Default, the Administrative Agent will withdraw from the related Collection Account or, if there is no related Collection Account, cause the Servicer to credit, an amount equal to the Collections in respect of the related Collection Period for the Revolving Facility Pool and such Payment Date and apply such amounts, in accordance with the following priorities: (i) in the manner and in the priorities set forth in Section 10.02(a) through (c); (ii) to pay any amounts that remain owing and unpaid to any Person under any indemnity or other payment agreement made by the Holder of the Mercedes-Benz Retail Specified Interest Certificate (or by the Servicer acting on its behalf) in connection with the Basic Documents or the transactions contemplated by the Basic Documents; and (iii) to or at the direction of the Holder of the Mercedes-Benz Retail Specified Interest Certificate, all remaining funds.

The Revolving Facility. With respect to the Revolving Facility Pool (based on the information contained in the related Monthly Revolving Facility Report), on each Payment Date following the occurrence of a Facility Default, the Administrative Agent will withdraw from the related Collection Account or, if there is no related Collection Account, cause the Servicer to credit, an amount equal to the Collections in respect of the related Collection Period for the Revolving Facility Pool and such Payment Date and apply such amounts, in accordance with the following priorities: (i) in the manner and in the priorities set forth in Section 10.02(a) through (c); (ii) to pay any amounts that remain owing and unpaid to any Person under any indemnity or other payment agreement made by the Holder of the Mercedes-Benz Daimler Retail Specified Interest Certificate (or by the Servicer acting on its behalf) in connection with the Basic Documents or the transactions contemplated by the Basic Documents; and (iii) to or at the direction of the Holder of the Mercedes-Benz Daimler Retail Specified Interest Certificate, all remaining funds.