Unapplied Master Trust Level Principal Collections. On each Note Transfer Date, the Servicer shall calculate the Remaining Series Principal Shortfall for each Series of Notes for such Note Transfer Date. If the sum of the Remaining Series Principal Shortfalls for all Series secured by any Asset Pool for such Note Transfer Date is greater than zero, the Servicer shall calculate the Collateral Certificate Principal Shortfall Allocation for each Unapplied Master Trust Level Principal Sharing Collateral Certificate in such Asset Pool for such Note Transfer Date and shall notify the servicer for the issuing entity of each such Collateral Certificate of such amount. Unapplied Master Trust Level Principal Collections received on any Note Transfer Date with respect to each Unapplied Master Trust Level Principal Sharing Collateral Certificate in an Asset Pool shall be applied in the following manner:
(a) if the aggregate amount of Unapplied Master Trust Level Principal Collections received on such Note Transfer Date with respect to such Asset Pool is greater than or equal to the sum of the Remaining Series Principal Shortfalls for all Series secured by such Asset Pool for such Note Transfer Date, each such Series shall receive the amount of its Remaining Series Principal Shortfall for such Note Transfer Date; and
(b) if the aggregate amount of Unapplied Master Trust Level Principal Collections received on such Note Transfer Date with respect to such Asset Pool is less than the sum of the Remaining Series Principal Shortfalls for all Series secured by such Asset Pool for such Note Transfer Date, each such Series shall receive an amount equal to the product of (i) the aggregate amount of Unapplied Master Trust Level Principal Collections received on such Note Transfer Date with respect to such Asset Pool and (ii) a fraction, the numerator of which is the Remaining Series Principal Shortfall for such Series for such Note Transfer Date and the denominator of which is equal to the sum of the Remaining Series Principal Shortfalls for all Series secured by such Asset Pool for such Note Transfer Date.
Unapplied Master Trust Level Principal Collections. Following application of Shared Excess Available Principal Collections pursuant to Section 3.28, if the Remaining Series Principal Shortfall with respect to any Monthly Period is greater than zero, Unapplied Master Trust Level Principal Collections allocated to the CHASEseries pursuant to Section 3.15 of the Indenture shall be applied to cover any shortfalls in amounts payable pursuant to subsection 3.09(e) with respect to such Monthly Period.
