Common use of Claim Under the Demand Note Clause in Contracts

Claim Under the Demand Note. (a) On each Determination Date, the Master Servicer shall determine the aggregate amount, if any, of Losses that have occurred during the Related Month. In the event that the aggregate amount of such Losses occurring during such Related Month exceeds the aggregate amount of Recoveries received during such Related Month, the Master Servicer shall set forth the aggregate amount of such net Losses in the Monthly Noteholders’ Statement, and the Trustee shall make the allocations as set forth in Sections 4.7(a)(iii)(1), (b)(iii)(1) and (c)(iii)(1), as applicable, of this Supplement. If any amounts are allocated to a claim under the Demand Note pursuant to such Sections (any such amounts, “Demand Note Claim Amounts”), the Trustee shall transmit to the issuer of the Demand Note a demand for repayment (each, a “Demand Notice”) under the Demand Note in the amount of the lesser of (x) the outstanding amount of such Demand Note and (y) the Demand Note Claim Amounts, in each case such payment to be made on or prior to the next succeeding Payment Date by deposit of funds into the Series 2010-1 Collection Account in the specified amount.

Claim Under the Demand Note. (a) On each Determination Date, the Master Servicer shall determine the aggregate amount, if any, of Losses that have occurred during the Related Month. In the event that the aggregate amount of any such Losses occurring during such Related Month exceeds exceed the aggregate amount of Recoveries received during such Related Month, the Master Servicer shall set forth the aggregate amount of such net Losses in the Monthly Noteholders’ StatementReport, and the Trustee shall make the allocations as set forth in Sections 4.7(a)(iii)(1), (b)(iii)(1) and (c)(iii)(1b)(iii)(1), as applicable, of this Supplement. If any amounts are allocated to a claim under the Demand Note pursuant to such Sections (any such amounts, “Demand Note Claim Amounts”), the Trustee shall transmit to the issuer of the Demand Note a demand for repayment (each, a “Demand Notice”) under the Demand Note in the amount of the lesser of (x) the outstanding amount of such Demand Note and (y) the Demand Note Claim Amounts, in each case such payment to be made on or prior to the next succeeding Payment Date by deposit of funds into the Series 20102000-1 Collection Account in the specified amount.

Claim Under the Demand Note. (a) On each Determination Date, the Master Servicer shall or, if the Master Servicer shall fail to do so, the Series 2007-1 Insurer may, in its sole discretion, determine the aggregate amount, if any, of Losses that have occurred during the Related Month. In the event that the aggregate amount of any such Losses occurring during such Related Month exceeds exceed the aggregate amount of Recoveries received during such Related Month, the Master Servicer shall set forth the aggregate amount of such net Losses in the Monthly Noteholders’ StatementReport, and the Trustee shall make the allocations as set forth in Sections 4.7(a)(iii)(14.7(a)(ii)(A), (b)(iii)(14.7(b)(ii)(A) and (c)(iii)(14.7(c)(ii)(A), as applicable, of this Supplement. If any amounts are allocated to a claim under the Demand Note pursuant to such Sections (any such amounts, “Demand Note Claim Amounts”), the Trustee shall transmit to the issuer of the Demand Note a demand for repayment (each, a “Demand Notice”) under the Demand Note in the amount of the lesser of (x) the outstanding amount of such Demand Note and (y) the Demand Note Claim Amounts, in each case such payment to be made on or prior to the next succeeding Payment Date by deposit of funds into the Series 20102007-1 Collection Account in the specified amount.

Claim Under the Demand Note. (a) On each Determination Date, the Master Servicer shall or, if the Master Servicer shall fail to do so, the Series 2003-1 Insurer may, in its sole discretion, determine the aggregate amount, if any, of Losses that have occurred during the Related Month. In the event that the aggregate amount of any such Losses occurring during such Related Month exceeds exceed the aggregate amount of Recoveries received during such Related Month, the Master Servicer shall set forth the aggregate amount of such net Losses in the Monthly Noteholders’ StatementReport, and the Trustee shall make the allocations as set forth in Sections 4.7(a)(iii)(14.7(a)(ii)(A), (b)(iii)(14.7(b)(ii)(A) and (c)(iii)(14.7(c)(ii)(A), as applicable, of this Supplement. If any amounts are allocated to a claim under the Demand Note pursuant to such Sections (any such amounts, “"Demand Note Claim Amounts”"), the Trustee shall transmit to the issuer of the Demand Note a demand for repayment (each, a “"Demand Notice”") under the Demand Note in the amount of the lesser of (x) the outstanding amount of such Demand Note and (y) the Demand Note Claim Amounts, in each case such payment to be made on or prior to the next succeeding Payment Date by deposit of funds into the Series 20102003-1 Collection Account in the specified amount.

Claim Under the Demand Note. (a) On each Determination Date, the Master Servicer shall determine the aggregate amount, if any, of Vehicle Disposition Losses that have occurred during the Related Month. In the event that the aggregate amount of such Vehicle Disposition Losses occurring during such Related Month exceeds the aggregate amount of Vehicle Disposition Recoveries received during such Related Month, the Master Servicer shall set forth the aggregate amount of such net Vehicle Disposition Losses in the Monthly Noteholders’ Statement, and the Trustee shall make the allocations as set forth in Sections 4.7(a)(iii)(14.7(a)(ii)(A), (b)(iii)(14.7(b)(ii)(A) and (c)(iii)(14.7(c)(ii)(A), as applicable, of this Supplement. If any amounts are allocated to a claim under the Demand Note pursuant to such Sections (any such amounts, “Demand Note Claim Amounts”), the Trustee shall shall, prior to the next succeeding Payment Date, transmit to the issuer of the Demand Note a demand for repayment payment (each, a “Demand Notice”) under the Demand Note in the amount of the lesser of (x) the outstanding amount of such Demand Note and (y) the Demand Note Claim Amounts, in each case such payment to be made on or prior to the next succeeding Payment Date by deposit of funds into the Series 2010-1 3 Collection Account in the specified amount.

Claim Under the Demand Note. (a) On each Determination Date, the Master Servicer shall or, if the Master Servicer shall fail to do so, the Series 2006-1 Insurer may, in its sole discretion, determine the aggregate amount, if any, of Losses that have occurred during the Related Month. In the event that the aggregate amount of any such Losses occurring during such Related Month exceeds exceed the aggregate amount of Recoveries received during such Related Month, the Master Servicer shall set forth the aggregate amount of such net Losses in the Monthly Noteholders’ StatementReport, and the Trustee shall make the allocations as set forth in Sections 4.7(a)(iii)(14.7(a)(ii)(A), 4.7(b)(ii) (b)(iii)(1A) and (c)(iii)(14.7(c)(ii)(A), as applicable, of this Supplement. If any amounts are allocated to a claim under the Demand Note pursuant to such Sections (any such amounts, “Demand Note Claim Amounts”), the Trustee shall transmit to the issuer of the Demand Note a demand for repayment (each, a “Demand Notice”) under the Demand Note in the amount of the lesser of (x) the outstanding amount of such Demand Note and (y) the Demand Note Claim Amounts, in each case such payment to be made on or prior to the next succeeding Payment Date by deposit of funds into the Series 20102006-1 Collection Account in the specified amount.

Claim Under the Demand Note. (a) . (a) On each Determination Date, the Master Servicer shall determine the aggregate amount, if any, of Losses that have occurred during the Related Month. In the event that the aggregate amount of any such Losses occurring during such Related Month exceeds exceed the aggregate amount of Recoveries received during such Related Month, the Master Servicer shall set forth the aggregate amount of such net Losses in the Monthly Noteholders’ StatementReport, and the Trustee shall make the allocations as set forth in Sections 4.7(a)(iii)(1), 4.7(a)(ii)(A),4.7(b) (b)(iii)(1ii)(A) and (c)(iii)(14.7(c)(ii)(A), as applicable, of this Supplement. If any amounts are allocated to a claim under the Demand Note pursuant to such Sections (any such amounts, “"Demand Note Claim Amounts”"), the Trustee shall transmit to the issuer of the Demand Note a demand for repayment (each, a “"Demand Notice”") under the Demand Note in the amount of the lesser of (x) the outstanding amount of such Demand Note and (y) the Demand Note Claim Amounts, in each case such payment to be made on or prior to the next succeeding Payment Date by deposit of funds into the Series 20102001-1 Collection Account in the specified amount.

Claim Under the Demand Note. (a) On each Determination Date, the Master Servicer shall determine the aggregate amount, if any, of Losses that have occurred during the Related Month. In the event that the aggregate amount of any such Losses occurring during such Related Month exceeds exceed the aggregate amount of Recoveries received during such Related Month, the Master Servicer shall set forth the aggregate amount of such net Losses in the Monthly Noteholders’ StatementReport, and the Trustee shall make the allocations as set forth in Sections 4.7(a)(iii)(1), (b)(iii)(1) and (c)(iii)(1), as applicable, of this Supplement. If any amounts are allocated to a claim under the Demand Note pursuant to such Sections (any such amounts, “"Demand Note Claim Amounts”"), the Trustee shall transmit to the issuer of the Demand Note a demand for repayment (each, a “"Demand Notice”") under the Demand Note in the amount of the lesser of (x) the outstanding amount of such Demand Note and (y) the Demand Note Claim Amounts, in each case such payment to be made on or prior to the next succeeding Payment Date by deposit of funds into the Series 20101999-1 Collection Account Amount in the specified amount.

Claim Under the Demand Note. (a) On each Determination Date, the Master Servicer shall determine the aggregate amount, if any, of Vehicle Disposition Losses that have occurred during the Related Month. In the event that the aggregate amount of such Vehicle Disposition Losses occurring during such Related Month exceeds the aggregate amount of Vehicle Disposition Recoveries received during such Related Month, the Master Servicer shall set forth the aggregate amount of such net Vehicle Disposition Losses in the Monthly Noteholders’ Statement, and the Trustee shall make the allocations as set forth in Sections 4.7(a)(iii)(14.7(a)(ii)(A), (b)(iii)(14.7(b)(ii)(A) and (c)(iii)(14.7(c)(ii)(A), as applicable, of this Supplement. If any amounts are allocated to a claim under the Demand Note pursuant to such Sections (any such amounts, “Demand Note Claim Amounts”), the Trustee shall prior to the next succeeding Payment Date transmit to the issuer of the Demand Note a demand for repayment payment (each, a “Demand Notice”) under the Demand Note in the amount of the lesser of (x) the outstanding amount of such Demand Note and (y) the Demand Note Claim Amounts, in each case such payment to be made on or prior to the next succeeding Payment Date by deposit of funds into the Series 20102011-1 2 Collection Account in the specified amount.

Claim Under the Demand Note. (a) On each Determination Date, the Master Servicer shall determine the aggregate amount, if any, of Losses that have occurred during the Related Month. In the event that the aggregate amount of such Losses occurring during such Related Month exceeds exceed the aggregate amount of Recoveries received during such Related Month, the Master Servicer shall set forth the aggregate amount of such net Losses in the Monthly Noteholders’ Statement, and the Trustee shall make the allocations as set forth in Sections 4.7(a)(iii)(14.7(a)(ii)(A), (b)(iii)(14.7(b)(ii)(A) and (c)(iii)(14.7(c)(ii)(A), as applicable, of this Supplement. If any amounts are allocated to a claim under the Demand Note pursuant to such Sections (any such amounts, “Demand Note Claim Amounts”), the Trustee shall transmit to the issuer of the Demand Note a demand for repayment payment (each, a “Demand Notice”) under the Demand Note in the amount of the lesser of (x) the outstanding amount of such Demand Note and (y) the Demand Note Claim Amounts, in each case such payment to be made on or prior to the next succeeding Payment Date by deposit of funds into the Series 2010-1 2 Collection Account in the specified amount.

Claim Under the Demand Note. (a) On each Determination Date, the Master Servicer shall determine the aggregate amount, if any, of Vehicle Disposition Losses that have occurred during the Related Month. In the event that the aggregate amount of such Vehicle Disposition Losses occurring during such Related Month exceeds the aggregate amount of Vehicle Disposition Recoveries received during such Related Month, the Master Servicer shall set forth the aggregate amount of such net Vehicle Disposition Losses in the Monthly Noteholders’ Statement, and the Trustee shall make the allocations as set forth in Sections 4.7(a)(iii)(14.7(a)(ii)(A), (b)(iii)(14.7(b)(ii)(A) and (c)(iii)(14.7(c)(ii)(A), as applicable, of this Supplement. If any amounts are allocated to a claim under the Demand Note pursuant to such Sections (any such amounts, “Demand Note Claim Amounts”), the Trustee shall prior to the next succeeding Payment Date transmit to the issuer of the Demand Note a demand for repayment payment (each, a “Demand Notice”) under the Demand Note in the amount of the lesser of (x) the outstanding amount of such Demand Note and (y) the Demand Note Claim Amounts, in each case such payment to be made on or prior to the next succeeding Payment Date by deposit of funds into the Series 20102011-1 Collection Account in the specified amount.

Claim Under the Demand Note. (a) On each Determination Date, the Master Servicer shall determine the aggregate amount, if any, of Losses that have occurred during the Related Month. In the event that the aggregate amount of any such Losses occurring during such Related Month exceeds exceed the aggregate amount of Recoveries received during such Related Month, the Master Servicer shall set forth the aggregate amount of such net Losses in the Monthly Noteholders’ StatementReport, and the Trustee shall make the allocations as set forth in Sections 4.7(a)(iii)(1), (b)(iii)(1) and (c)(iii)(1b)(iii)(1), as applicable, of this Supplement. If any amounts are allocated to a claim under the Demand Note pursuant to such Sections (any such amounts, “"Demand Note Claim Amounts”"), the Trustee shall transmit to the issuer of the Demand Note a demand for repayment (each, a “"Demand Notice”") under the Demand Note in the amount of the lesser of (x) the outstanding amount of such Demand Note and (y) the Demand Note Claim Amounts, in each case such payment to be made on or prior to the next succeeding Payment Date by deposit of funds into the Series 20102000-1 Collection Account in the specified amount.

Claim Under the Demand Note. (a) On each Determination Date, the Master Servicer shall determine the aggregate amount, if any, of Losses that have occurred during the Related Month. In the event that the aggregate amount of any such Losses occurring during such Related Month exceeds exceed the aggregate amount of Recoveries received during such Related Month, the Master Servicer shall set forth the aggregate amount of such net Losses in the Monthly Noteholders’ StatementReport, and the Trustee shall make in accordance with the written instructions of the Master Servicer the allocations as set forth in Sections 4.7(a)(iii)(1), (b)(iii)(1) and (c)(iii)(1), as applicable, of this Supplement. If any amounts are allocated to a claim under the Demand Note pursuant to such Sections (any such amounts, “"Demand Note Claim Amounts”"), the Trustee shall transmit to the issuer of the Demand Note a demand for repayment (each, a “"Demand Notice”") under the Demand Note in the amount of the lesser of (x) the outstanding amount of such Demand Note and (y) the Demand Note Claim Amounts, in each case such payment to be made on or prior to the next succeeding Payment Date by deposit of funds into the Series 20101998-1 Collection Account in the specified amount.

Claim Under the Demand Note. (a) On each Determination Date, the Master Servicer shall determine the aggregate amount, if any, of Losses that have occurred during the Related Month. In the event that the aggregate amount of such Losses occurring during such Related Month exceeds the aggregate amount of Recoveries received during such Related Month, the Master Servicer shall set forth the aggregate amount of such net Losses in the Monthly Noteholders’ Statement, and the Trustee shall make the allocations as set forth in Sections 4.7(a)(iii)(14.7(a)(ii)(A), (b)(iii)(1b)(ii)(A) and (c)(iii)(1c)(ii)(A), as applicable, of this Supplement. If any amounts are allocated to a claim under the Demand Note pursuant to such Sections (any such amounts, “Demand Note Claim Amounts”), the Trustee shall transmit to the issuer of the Demand Note a demand for repayment payment (each, a “Demand Notice”) under the Demand Note in the amount of the lesser of (x) the outstanding amount of such Demand Note and (y) the Demand Note Claim Amounts, in each case such payment to be made on or prior to the next succeeding Payment Date by deposit of funds into the Series 2010-1 3 Collection Account in the specified amount.

Claim Under the Demand Note. (a) On each Determination Date, the Master Servicer shall or, if the Master Servicer shall fail to do so, the Series 2004-1 Insurer may, in its sole discretion, determine the aggregate amount, if any, of Losses that have occurred during the Related Month. In the event that the aggregate amount of any such Losses occurring during such Related Month exceeds exceed the aggregate amount of Recoveries received during such Related Month, the Master Servicer shall set forth the aggregate amount of such net Losses in the Monthly Noteholders’ StatementReport, and the Trustee shall make the allocations as set forth in Sections 4.7(a)(iii)(14.7(a)(ii)(A), (b)(iii)(14.7(b)(ii)(A) and (c)(iii)(14.7(c)(ii)(A), as applicable, of this Supplement. If any amounts are allocated to a claim under the Demand Note pursuant to such Sections (any such amounts, “"Demand Note Claim Amounts”"), the Trustee shall transmit to the issuer of the Demand Note a demand for repayment (each, a “"Demand Notice”") under the Demand Note in the amount of the lesser of (x) the outstanding amount of such Demand Note and (y) the Demand Note Claim Amounts, in each case such payment to be made on or prior to the next succeeding Payment Date by deposit of funds into the Series 20102004-1 Collection Account in the specified amount.

Claim Under the Demand Note. (a) On each Determination Date, the Master Servicer shall or, if the Master Servicer shall fail to do so, the Series 2002-1 Insurer may, in its sole discretion, determine the aggregate amount, if any, of Losses that have occurred during the Related Month. In the event that the aggregate amount of any such Losses occurring during such Related Month exceeds exceed the aggregate amount of Recoveries received during such Related Month, the Master Servicer shall set forth the aggregate amount of such net Losses in the Monthly Noteholders’ StatementReport, and the Trustee shall make the allocations as set forth in Sections 4.7(a)(iii)(14.7(a)(ii)(A), (b)(iii)(14.7(b)(ii)(A) and (c)(iii)(14.7(c)(ii)(A), as applicable, of this Supplement. If any amounts are allocated to a claim under the Demand Note pursuant to such Sections (any such amounts, “"Demand Note Claim Amounts”"), the Trustee shall transmit to the issuer of the Demand Note a demand for repayment (each, a “"Demand Notice”") under the Demand Note in the amount of the lesser of (x) the outstanding amount of such Demand Note and (y) the Demand Note Claim Amounts, in each case such payment to be made on or prior to the next succeeding Payment Date by deposit of funds into the Series 20102002-1 Collection Account in the specified amount.

Claim Under the Demand Note. (a) On each Determination Date, the Master Servicer shall determine the aggregate amount, if any, of Losses that have occurred during the Related Month. In the event that the aggregate amount of any such Losses occurring during such Related Month exceeds exceed the aggregate amount of Recoveries received during such Related Month, the Master Servicer shall set forth the aggregate amount of such net Losses in the Monthly Noteholders’ StatementReport, and the Trustee shall make in accordance with the written instructions of the Master Servicer the allocations as set forth in Sections 4.7(a)(iii)(1), (b)(iii)(1) and (c)(iii)(1), as applicable, of this Supplement. If any amounts are allocated to a claim under the Demand Note pursuant to such Sections (any such amounts, “Demand Note Claim Amounts”), the Trustee shall transmit to the issuer of the Demand Note a demand for repayment (each, a “Demand Notice”) under the Demand Note in the amount of the lesser of (x) the outstanding amount of such Demand Note and (y) the Demand Note Claim Amounts, in each case such payment to be made on or prior to the next succeeding Payment Date by deposit of funds into the Series 20101998-1 Collection Account in the specified amount.