Common use of Withdrawal of Carrying Charges Clause in Contracts

Withdrawal of Carrying Charges. At or before 11:00 AM New York City time, on the second Business Day prior to each Payment Date prior to the Prefunding Termination Date, the Servicer shall determine the Carrying Charges in respect of the upcoming Payment Date and provide notice thereof, and the direction referenced in the immediately following sentence, to the Indenture Trustee. The Indenture Trustee shall transfer into the Collection Account on each Payment Date, in accordance with the written direction of the Servicer, an amount equal to such Carrying Charges from the Capitalized Interest Account (solely to the extent of the amount then on deposit therein).