Common use of Voluntary Deposits to the Collection Account Administrative Accounts Clause in Contracts

Voluntary Deposits to the Collection Account Administrative Accounts. From time to time, the Master Issuer may direct that all or any portion of the Residual Amounts available to it pursuant to priority (xxxviii) of the Priority of Payments including any amounts previously deposited to the Residual Amounts Account pursuant to Section 5.1(e) be deposited in one or more of the Collection Account Administrative Accounts. Any such amounts deposited in a Collection Account Administrative Account shall be disbursed in accordance with the applicable provisions of Section 5.12. In addition, if on any Weekly Allocation Date, there is a Collection Account Administrative Account Surplus with respect to any Collection Account Administrative Account, the Master Issuer (or the Manager on its behalf), as indicated in the applicable Weekly Manager’s Certificate, may request that the Trustee release from such Collection Account Administrative Account an amount not to exceed the lesser of (I) the Collection Account Administrative Account Surplus with respect to such account and (II) the aggregate amount that was deposited into such account prior to such date pursuant to this Section 5.6(d); provided that, if the Master Issuer elects to include the Senior Principal and Interest Account Excess Amount in calculating the Senior ABS Leverage Ratio, pursuant to clause (i)(b)(y) of the definition thereof, the Master Issuer may not elect to release any funds from the Senior Notes Principal Payment Account until such time (if any) as the Master Issuer has a Senior ABS Leverage Ratio of less than 6.5x (or, on and after the Springing Amendments Implementation Date, 7.0x) without including the Senior Principal and Interest Account Excess Amount in the calculation thereof (which ratio will be calculated as if the date of such calculation is the date of issuance of an additional Series of Notes). Any amounts so released from the Collection Account Administrative Accounts shall be applied at the direction of the Master Issuer (or the Manager on its behalf), which may include (i) the making of a distribution, subject to Section 8.18, (ii) to deposit such amount in the Residual Amounts Account or (iii) for working capital purposes.

Voluntary Deposits to the Collection Account Administrative Accounts. From time to time, the Master Issuer may direct that all or any portion of the Residual Amounts available to it pursuant to priority (xxxviiixxix) of the Priority of Payments including any amounts previously deposited to the Residual Amounts Account pursuant to Section 5.1(e5.1(f)) be deposited in one or more of the Collection Account Administrative Accounts. Any such amounts deposited in a Collection Account Administrative Account shall be disbursed in accordance with the applicable provisions of Section 5.12. In addition, if on any Weekly Allocation Datedate, there is a Collection Account Administrative Account Surplus with respect to any Collection Account Administrative Account, the Master Issuer (or the Manager on its behalf), as indicated in the applicable Weekly Manager’s Certificate, may request that the Trustee release from such Collection Account Administrative Account an amount not to exceed the lesser of (I) the Collection Account Administrative Account Surplus with respect to such account and (II) the aggregate amount that was deposited into such account prior to such date pursuant to this Section 5.6(d); provided that, if the Master Issuer elects to include the Senior Principal and Interest Account Excess Amount in calculating the Senior ABS Leverage Ratio, pursuant to clause (i)(b)(ya)(ii)(y) of the definition thereof, the Master Issuer may not elect to release any funds from the Senior Notes Interest Payment Amount of the Senior Notes Principal Payment Account until such time (if any) as the Master Issuer has a Senior ABS Leverage Ratio of equals less than 6.5x (or, on and after the 2021 Springing Amendments Implementation Date, 7.0x) without including the Senior Principal and Interest Account Excess Amount in the calculation thereof (which ratio will shall be calculated as if the date of such calculation is the date of issuance of an additional Series of Notes). Any amounts so released from the Collection Account Administrative Accounts shall be applied at the direction of the Master Issuer (or the Manager on its behalf)Issuer, which may include (i) the making of a distribution, subject to Section 8.18, (ii) to their deposit such amount in the Residual Amounts Account or (iii) for working capital purposes.

Voluntary Deposits to the Collection Account Administrative Accounts. From time to time, the Master Issuer may direct that all or any portion of the Residual Amounts available to it pursuant to priority (xxxviiixxix) of the Priority of Payments including any amounts previously deposited to the Residual Amounts Account pursuant to Section 5.1(e5.1(f)) be deposited in one or more of the Collection Account Administrative Accounts. Any such amounts deposited in a Collection Account Administrative Account shall be disbursed in accordance with the applicable provisions of Section 5.12. In addition, if on any Weekly Allocation Datedate, there is a Collection Account Administrative Account Surplus with respect to any Collection Account Administrative Account, the Master Issuer (or the Manager on its behalf), as indicated in the applicable Weekly Manager’s Certificate, may request that the Trustee release from such Collection Account Administrative Account an amount not to exceed the lesser of (I) the Collection Account Administrative Account Surplus with respect to such account and (II) the aggregate amount that was deposited into such account prior to such date pursuant to this Section 5.6(d); provided that, if the Master Issuer elects to include the Senior Principal and Interest Account Excess Amount in calculating the Senior ABS Leverage Ratio, pursuant to clause (i)(b)(ya)(ii)(y) of the definition thereof, the Master Issuer may not elect to release any funds from the Senior Notes Interest Payment Amount of the Senior Notes Principal Payment Account until such time (if any) as the Master Issuer has a elects to calculate the Senior ABS Leverage Ratio of less than 6.5x (or, on and after the Springing Amendments Implementation Date, 7.0x) without including reference to the Senior Principal and Interest Account Excess Amount in the calculation thereof (which ratio will be calculated as if the date of such calculation is the date of issuance of an additional Series of Notes)Amount. Any amounts so released from the Collection Account Administrative Accounts shall be applied at the direction of the Master Issuer (or the Manager on its behalf)Issuer, which may include (i) the making of a distribution, subject to Section 8.18, (ii) to their deposit such amount in the Residual Amounts Account or (iii) for working capital purposes.

Voluntary Deposits to the Collection Account Administrative Accounts. From time to time, the Master Issuer may direct that all or any portion of the Residual Amounts available to it pursuant to priority (xxxviiixxix) of the Priority of Payments including any amounts previously deposited to the Residual Amounts Account pursuant to Section 5.1(e5.1(f)) be deposited in one or more of the Collection Account Administrative Accounts. Any such amounts deposited in a Collection Account Administrative Account shall be disbursed in accordance with the applicable provisions of Section 5.12. In addition, if on any Weekly Allocation Datedate, there is a Collection Account Administrative Account Surplus with respect to any Collection Account Administrative Account, the Master Issuer (or the Manager on its behalf), as indicated in the applicable Weekly Manager’s Certificate, may request that the Trustee release from such Collection Account Administrative Account an amount not to exceed the lesser of (I) the Collection Account Administrative Account Surplus with respect to such account and (II) the aggregate amount that was deposited into such account prior to such date pursuant to this Section 5.6(d); provided that, if the Master Issuer elects to include the Senior Principal and Interest Account Excess Amount in calculating the Senior ABS Leverage Ratio, pursuant to clause (i)(b)(ya)(ii)(y) of the definition thereof, the Master Issuer may not elect to release any funds from the Senior Notes Interest Payment Amount of the Senior Notes Principal Payment Account until such time (if any) as the Master Issuer has a elects to calculate the Senior ABS Leverage Ratio of without reference to the Senior Principal and Interest Account Excess Amount Senior ABS Leverage Ratio equals less than 6.5x (or, on and after the Springing Amendments Implementation Date, 7.0x) without including the Senior Principal and Interest Account Excess Amount in the calculation thereof (which ratio will be calculated as if the date of such calculation is the date of issuance of an additional Series of Notes). Any amounts so released from the Collection Account Administrative Accounts shall be applied at the direction of the Master Issuer (or the Manager on its behalf)Issuer, which may include (i) the making of a distribution, subject to Section 8.18, (ii) to their deposit such amount in the Residual Amounts Account or (iii) for working capital purposes.”