Application of Available Funds. 24. Servicing Fee
Application of Available Funds. The Trustee shall make on each Payment Date from Available Funds in the Collection Account with respect to the quarter preceding such Payment Date, the following distributions in the following priorities:
Application of Available Funds. (a) Available Investor Finance Charge and Administrative Collections
Application of Available Funds. (a) The Indenture Trustee shall distribute on each Payment Date, based solely upon written instruction furnished to the Indenture Trustee by the Servicer (which instruction may be included in the Monthly Servicer Report), the Available Funds with respect to such Payment Date, in the following order of priority:
Application of Available Funds on Deposit in the Collection Account and the Principal Funding Account. With respect to Series 1997-1, on each Distribution Date the Servicer shall provide written directions to the Trustee to apply Series Allocable Finance Charge and Administrative Collections (other than the portion thereof reallocated to other Series in Group Two), Collections of Finance Charge and Administrative Receivables reallocated to Series 1997-1 from other Series and Available Investor Principal Collections on deposit in the Collection Account, the Collection Subaccount and the Principal Funding Account with respect to such Distribution Date in the following manner:
Application of Available Funds. 13.1 Payments of principal on the VRR Loan will at all times rank in accordance with the Pre-Enforcement Principal Priority of Payments or the Post-Enforcement Priority of Payments, as applicable.
Application of Available Funds. In accordance with the Monthly Report delivered to the Paying Agent by the Servicer on or before the third Business Day preceding the related Monthly Remittance Date (as set forth in Section 4.01 of the Servicing Agreement), all Available Funds shall be distributed on each Monthly Remittance Date by the Paying Agent from the Collection Account as follows: first, concurrently (A) to the Back-up Servicer, the Back-up Servicer Fee and (as applicable) the Transition Expenses, (B) to the Custodian, the Custodian Fee, (C) to the Paying Agent, the Paying Agent Fee, and (D) to the Back-up Servicer, the Custodian, and the Paying Agent, pro rata, all other out-of-pocket costs, expenses, indemnities and reimbursements (including without limitation, attorneys’ fees) then due and owing to such Person pursuant to this Agreement or any other Transaction Document (“Extraordinary Expenses”); provided, however, that such Extraordinary Expenses of this section first shall not exceed Fifty Thousand U.S. Dollars ($50,000) per annum. Any additional expenses shall be subject to subsection tenth below; second, to the Servicer, the related Servicing Fee with respect to any such Monthly Remittance and if the Servicer is the Back-up Servicer acting as Successor Servicer, all reasonable costs, expenses, indemnities and reimbursements due and owing to such person pursuant to this Agreement and the Transaction Documents; third, to the Hedge Counterparty (if any) amounts owed under any Interest Rate Hedge (excluding breakage fees); fourth, to the Agent for the account of the Lender, accrued and unpaid Interest on the Aggregate Loan Balance calculated in accordance with Section 1.2; fifth, to the Agent for the account of the Lender, any accrued and unpaid Non-Use Fee for the Collection Period; sixth, to the Agent for the account of the Lender, all fees then due and owing to the Lender pursuant to this Agreement or any other Transaction Document; seventh, to the Agent for the account of the Lender, in reduction of the Aggregate Loan Balance, the amount necessary to reduce the Borrowing Base Deficit to zero; eighth, to the Hedge Counterparty, unpaid breakage fees due under any Interest Rate Hedge; ninth, upon the occurrence of an Early Amortization Event, to the Agent for the account of the Lender, all remaining funds until such time as the Aggregate Loan Balance has been reduced to zero; tenth, concurrently and on a pari passu basis, to the Agent, the Lender, the Servicer, the Back-up Ser...
Application of Available Funds. Prior to the Maturity Date, and upon satisfactory receipt by the Administrative Agent of the applicable Settlement Report and other supporting documents from the Borrower which the Administrative Agent may reasonably request to appropriately identify pertinent information of all Collections on deposit in the Borrower Lockbox Account as of such date, the Administrative Agent (or, pursuant to an Account Administration Agreement, the Account Administrator on the Lender’s behalf) shall instruct the Account Bank, on each Settlement Date in accordance with the Settlement Report delivered by the Borrower to the Administrative Agent in connection with such Settlement Date (as such report may be adjusted by the Administrative Agent in its good faith discretion), to apply all Available Funds in the following priority (unless otherwise agreed by the Administrative Agent and the Borrower in writing):
Application of Available Funds. Prior to the Maturity Date, and upon satisfactory receipt by the Administrative Agent of the applicable Settlement Report and other supporting documents from the Borrower which the Administrative Agent may reasonably request to appropriately identify pertinent information of all Collections on deposit in the Borrower Lockbox Account as of such date, (i) the New Money Agent (or, pursuant to an Account Administration Agreement, the Account Administrator on the Lender’s behalf), and (ii) after payment in full of the obligations under the New Money Loan Documents (other than un-asserted reimbursement or contingent obligations), the Administrative Agent, shall instruct the Account Bank, on each Settlement Date in accordance with the Settlement Report #194770820_v13 delivered by the Borrower to Administrative Agent and the New Money Agent in connection with such Settlement Date (as such report may be adjusted by the New Money Agent in its good faith discretion), to apply all Available Funds in the priority detailed in Section 2.11 of the New Money Credit Agreement. Any amounts due to Administrative Agent pursuant to Section 2.11 of the New Money Credit Agreement and in accordance with Section 11 of the New Money Credit Agreement shall be applied as follows:
Application of Available Funds. (a) SPV (or the Subservicer on its behalf) shall direct or otherwise cause the Purchasers obligated on the Pledged Receivables (other than Purchasers paying by means of credit cards) to mail or deposit by electronic means all Collections due thereunder to a Lockbox Account, or as otherwise required by the Administrative Agent. If, notwithstanding such instructions, any such Collections are delivered to SPV or the Subservicer, and to the extent Collections paid by means of credit cards are delivered to SPV or the Subservicer, SPV shall (or shall cause the Subservicer to) deposit such Collections into the Collection Account within one Business Day following the receipt. No less frequently than once a week, all Available Funds held by an Account Agent will be paid to TFC, pursuant to the applicable Blocked Account Agreement, for deposit in the Collection Account.
