Common use of Class C Interest Clause in Contracts

Class C Interest. On each Business Day during a Monthly Period, the Trustee, acting in accordance with instructions from the Servicer, shall withdraw from the Collection Account and deposit into the Interest Funding Account for dis- tribution on the next Distribution Date to the Class C Certificateholders, to the extent of any Available Series 1997-1 Finance Charge Collections remaining after giving effect to the withdrawal pursuant to subsections 4.9(a)(i) and (ii) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 1997-1 Finance Charge Collections and (y) the excess of (1) the sum of Class C Inter- est and Carryover Class C Interest over (2) any amounts with respect thereto previously deposited into the Interest Funding Account on any prior Business Day during such Monthly Period. Notwith- standing anything to the contrary herein, the por- tion of Carryover Class C Monthly Interest that constitutes Class C Additional Interest shall be payable or distributable to Class C Certificatehold- ers only to the extent permitted by applicable law.

Class C Interest. On each Business Day during a Monthly Period, the Trustee, acting in accordance with instructions from the Servicer, shall withdraw from the Collection Account and deposit into the Interest Funding Account for dis- tribution distribution on the next Distribution Date to the Class C Certificateholders, to the extent of any Available Series 1997-1 2 Finance Charge Collections remaining after giving effect to the withdrawal pursuant to subsections 4.9(a)(i) and (ii) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 1997-1 2 Finance Charge Collections and (y) the excess of (1) the sum of Class C Inter- est Interest and Carryover Class C Interest over OVER (2) any amounts with respect thereto previously deposited into the Interest Funding Account on any prior Business Day during such Monthly Period. Notwith- standing Notwithstanding anything to the contrary herein, the por- tion portion of Carryover Class C Monthly Interest that constitutes Class C Additional Interest shall be payable or distributable to Class C Certificatehold- ers Certificateholders only to the extent permitted by applicable law.