Common use of Unpaid CTO Monthly Interest Clause in Contracts

Unpaid CTO Monthly Interest. On each Business Day, the Trustee, acting in accordance with the instructions from the Servicer, shall deposit in the Interest Funding Account for distribution to the CTO Securityholders on the next Distribution Date, to the extent of any Available Series 1998-2 Finance Charge Collections remaining after giving effect to the applications pursuant to subsections 4.9(a)(i) through (viii) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 1998-2 Finance Charge Collections and (y) the sum of (1) the amount of interest which would accrue with respect to the Collateralized Trust Obligations on the CTO Outstanding Principal Amount at the CTO Interest Rate during the Interest Accrual Period beginning in the then current Monthly Period but which has not been deposited into the Interest Funding Account or paid to the CTO Securityholders and (2) any additional interest (to the extent permitted by applicable law) at the CTO Interest Rate on interest that was payable on any prior Distribution Date pursuant to this subsection but was not deposited in the Interest Funding Account or paid to the CTO Securityholders.

Unpaid CTO Monthly Interest. On each Business Day, the Trustee, acting in accordance with the instructions from the Servicer, shall deposit in the Interest Funding Account for distribution to the CTO Securityholders on the next Distribution Date, to the extent of any Available Series 1998-2 1 Finance Charge Collections remaining after giving effect to the applications pursuant to subsections 4.9(a)(i) through (viii) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 1998-2 1 Finance Charge Collections and (y) the sum of (1) the amount of interest which would accrue with respect to the Collateralized Trust Obligations on the CTO Outstanding Principal Amount at the CTO Interest Rate during the Interest Accrual Period beginning in the then current Current Monthly Period but which has not been deposited into the Interest Funding Account or paid to the CTO Securityholders and (2) any additional interest (to the extent permitted by applicable law) at the CTO Interest Rate on interest that was payable on any prior Distribution Date pursuant to this subsection but was not deposited in the Interest Funding Account or paid to the CTO Securityholders.

Unpaid CTO Monthly Interest. On each Business Day, the Trustee, acting in accordance with the instructions from the Servicer, shall deposit in the Interest Funding Account for distribution to the CTO Securityholders on the next Distribution Date, to the extent of any Available Series 1998-2 Finance Charge Collections remaining after giving effect to the applications pursuant to subsections 4.9(a)(i) through (viii) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 1998-2 Finance Charge Collections and (y) the sum of (1) the amount of interest which would accrue with respect to the Collateralized Trust Obligations on the CTO Outstanding Principal Amount at the CTO Interest Rate during the Interest Accrual Period beginning in the then current Current Monthly Period but which has not been deposited into the Interest Funding Account or paid to the CTO Securityholders and (2) any additional interest (to the extent permitted by applicable law) at the CTO Interest Rate on interest that was payable on any prior Distribution Date pursuant to this subsection but was not deposited in the Interest Funding Account or paid to the CTO Securityholders.

Unpaid CTO Monthly Interest. On each Business Day, the Trustee, acting in accordance with the instructions from the Servicer, shall deposit in the Interest Funding Account for distribution to the CTO Securityholders on the next Distribution Date, to the extent of any Available Series 1998-2 1 Finance Charge Collections remaining after giving effect to the applications pursuant to subsections 4.9(a)(i) through (viii) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 1998-2 1 Finance Charge Collections and (y) the sum of (1) the amount of interest which would accrue with respect to the Collateralized Trust Obligations on the CTO Outstanding Principal Amount at the CTO Interest Rate during the Interest Accrual Period beginning in the then current Monthly Period but which has not been deposited into the Interest Funding Account or paid to the CTO Securityholders and (2) any additional interest (to the extent permitted by applicable law) at the CTO Interest Rate on interest that was payable on any prior Distribution Date pursuant to this subsection but was not deposited in the Interest Funding Account or paid to the CTO Securityholders.