Common use of Deficiency Amount Clause in Contracts

Deficiency Amount. With respect to each Distribution Date, commencing with the Initial Distribution Date, on the related Determination Date, the Servicer shall determine the amount (the "Deficiency Amount"), if any, by which (a) the sum of (i) Monthly Interest for such Distribution Date, (ii) any Monthly Interest previously due but not distributed to the Series 2000-B Certificateholders on a prior Distribution Date, (iii) Additional Interest, if any, for such Distribution Date and any Additional Interest previously due but not distributed to the Series 2000-B Certificateholders on a prior Distribution Date; (iv) the Certificateholders Monthly Servicing Fee for such Distribution Date, (v) the Investor Default Amount, if any, for such Distribution Date; (vi) the Series 2000-B Allocation Percentage of the amount of any Adjustment Payment required to be deposited in the Collection Account pursuant to Section 3.09(a) of the Agreement with respect to the related Collection Period that has not been so deposited as of such Determination Date and (vii) if such Distribution Date constitutes the Final Payment Date, the sum of (A) the amount of any Carry-over Amount for such Distribution Date, (B) the amount of any Carry-over Amount previously due but not previously distributed to Series 2000-B Certificateholders on a prior Distribution Date, (C) the amount of any Additional Carry-over Amount for such Distribution Date and (D) the amount of any Additional Carry-over Amount previously due but not previously paid to Series 2000-B Certificateholders on a prior Distribution Date, in each case that will not be satisfied on such date by application, pursuant to Section 4.04(b)(iii), of amounts on deposit in the Yield Supplement Account, exceeds (b) the sum of (i) Investor Non-Principal Collections for such Distribution Date plus any Investment Proceeds with respect to such Distribution Date and (ii) the amount of funds in the Reserve Fund which are available pursuant to Section 4.08(a) and Section 4.08(d), as applicable, to cover any portion of the Deficiency Amount. The lesser of the Deficiency Amount and the Available Subordinated Amount shall be the "Required Subordination Draw Amount". SECTION 4.06. Application of Investor Non-Principal Collections, Investment Proceeds and Available Investor Principal Collections. The Servicer shall cause the Trustee to apply, on each Distribution Date, commencing with the Initial Distribution Date, Investor Non-Principal Collections, Investment Proceeds and Available Investor Principal Collections to make the following distributions:

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Carco Auto Loan Master Trust), Carco Auto Loan Master Trust

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Deficiency Amount. With respect to each Distribution Date, commencing with the Initial Distribution Date, on the related Determination Date, the Servicer shall determine the amount (the "Deficiency Amount"), if any, by which (a) the sum of (i) Monthly Interest for such Distribution Date, (ii) any Monthly Interest previously due but not distributed to the Series 20002001-B A Certificateholders on a prior Distribution Date, (iii) Additional Interest, if any, for such Distribution Date and any Additional Interest previously due but not distributed to the Series 20002001-B A Certificateholders on a prior Distribution Date; (iv) the Certificateholders Monthly Servicing Fee for such Distribution Date, (v) the Investor Default Amount, if any, for such Distribution Date; (vi) the Series 20002001-B A Allocation Percentage of the amount of any Adjustment Payment required to be deposited in the Collection Account pursuant to Section 3.09(a) of the Agreement with respect to the related Collection Period that has not been so deposited as of such Determination Date and (vii) if such Distribution Date constitutes the Final Payment Date, the sum of (A) the amount of any Carry-over Amount for such Distribution Date, (B) the amount of any Carry-over Amount previously due but not previously distributed to Series 20002001-B A Certificateholders on a prior Distribution Date, (C) the amount of any Additional Carry-over Amount for such Distribution Date and (D) the amount of any Additional Carry-over Amount previously due but not previously paid to Series 20002001-B A Certificateholders on a prior Distribution Date, in each case that will not be satisfied on such date by application, pursuant to Section 4.04(b)(iii), of amounts on deposit in the Yield Supplement Account, exceeds (b) the sum of (i) Investor Non-Principal Collections for such Distribution Date plus any Investment Proceeds with respect to such Distribution Date and (ii) the amount of funds in the Reserve Fund which are available pursuant to Section 4.08(a) and Section 4.08(d), as applicable, to cover any portion of the Deficiency Amount. The lesser of the Deficiency Amount and the Available Subordinated Amount shall be the "Required Subordination Draw Amount". SECTION 4.06. Application of Investor Non-Principal Collections, Investment Proceeds and Available Investor Principal Collections. The Servicer shall cause the Trustee to apply, on each Distribution Date, commencing with the Initial Distribution Date, Investor Non-Principal Collections, Investment Proceeds and Available Investor Principal Collections to make the following distributions:.

Appears in 1 contract

Samples: Daimlerchrysler Wholesale Receivables LLC

Deficiency Amount. With respect to each Distribution Date, commencing with Date [that occurs on or prior to the Initial Fully Reinvested Date or any Distribution DateDate thereafter during the Revolving Period], on the related Determination Date, the Servicer shall determine the amount (the "Deficiency Amount"), if any, by which (a) the sum of (i) Monthly Interest for such Distribution Date, (ii) any Monthly Interest previously due but not [deposited to the Interest Funding Account or] distributed to the Series 2000-B [199_-_] Certificateholders on a prior Distribution Date, (iii) Additional Interest, if any, for such Distribution Date and any Additional Interest previously due but not [deposited to the Interest Funding Account or] distributed to the Series 2000-B [199_-_] Certificateholders on a prior Distribution Date; , (iv) the Certificateholders Monthly Servicing Fee for such Distribution Date, (v) the Investor Default Amount, if any, for such Distribution Date; , (vi) the Series 2000-B [199_-_] Allocation Percentage of the amount of any Adjustment Payment required to be deposited in the Collection Account pursuant to Section 3.09(a) of the Agreement with respect to the related Collection Period that has not been so deposited as of such Determination Date Date, and (vii) if such Distribution Date constitutes the Final Payment Date, Date the sum of (A) the amount of any Carry-over Amount for such Distribution Date, (B) the amount of any Carry-over Amount previously due but not previously [deposited in the Interest Funding Account or] distributed to Series 2000-B [199_-_] Certificateholders on a prior Distribution Date, (C) the amount of any Additional Carry-over Carryover Amount for such Distribution Date and (D) the amount of any Additional Carry-over Amount previously due but not not] previously [deposited in the Interest Funding Account or] paid to Series 2000-B [199_-_] Certificateholders on a prior Distribution Date, in each case that will not be satisfied on such date by application, pursuant to Section 4.04(b)(iii), of amounts on deposit in the Yield Supplement Account, exceeds (b) the sum of [(i) )] Investor Non-Principal Collections for such Distribution Date plus any Investment Proceeds with respect to such Distribution Date [plus Series [199_-_] Excess Interest Collections for such Distribution Date] [and (ii) the amount of funds in the Reserve Fund which are available pursuant to Section 4.08(a) and Section 4.08(d), as applicable, ) to cover any portion of the Deficiency Amount. .] The lesser of the Deficiency Amount and the Available Subordinated Amount shall be the "Required Subordination Draw Amount". [Include other sources of funds and applications of the Required Subordination Draw Amount, as appropriate.] SECTION 4.06. Application of Investor Non-Non- Principal Collections, Investment Proceeds and Available Investor Principal Collections. The Servicer shall cause the Trustee to apply, on each Distribution Date, commencing with the Initial Distribution Date, Investor Non-Principal Collections, Investment Proceeds Proceeds[, Series [199_-_] Excess Interest Collections] and Available Investor Principal Collections [other amounts] to make the following distributions:

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Carco Auto Loan Master Trust)

Deficiency Amount. With respect to each Distribution Date, commencing with the Initial Distribution Distri bution Date, on the related Determination Date, the Servicer shall determine the amount (the "Deficiency Amount"), if any, by which (a) the sum of (i) Class A-1 Monthly Interest and Class A-2 Monthly Interest for such Distribution Date, (ii) any Class A-1 Monthly Interest and Class A-2 Monthly Interest previously due but not distributed to the Series 20001999-B 1 Certificateholders on a prior Distribution Date, (iii) Class A-1 Additional Interest and Class A-2 Additional Interest, if any, for such Distribution Date and any Class A-1 Additional Interest and Class A-2 Additional Interest previously due but not distributed to the Series 20001999-B 1 Certificateholders on a prior Distribution Date; (iv) the Certificateholders Monthly Servicing Fee for such Distribution Date, ; (v) the Investor Default Amount, if any, for such Distribution Date; and (vi) the Series 20001999-B 1 Allocation Percentage of the amount of any Adjustment Payment required to be deposited in the Collection Account pursuant to Section 3.09(a) of the Agreement with respect to the related Collection Period that has not been so deposited as of such Determination Date and (vii) if such Distribution Date constitutes the Final Payment Date, the sum of (A) the amount of any Carry-over Amount for such Distribution Date, (B) the amount of any Carry-over Amount previously due but not previously distributed to Series 2000-B Certificateholders on a prior Distribution Date, (C) the amount of any Additional Carry-over Amount for such Distribution Date and (D) the amount of any Additional Carry-over Amount previously due but not previously paid to Series 2000-B Certificateholders on a prior Distribution Date, in each case that will not be satisfied on such date by application, pursuant to Section 4.04(b)(iii), of amounts on deposit in the Yield Supplement Account, exceeds (b) the sum of (i) Investor Non-Principal Collections for such Distribution Date plus any Investment Proceeds with respect to such Distribution Date plus any Allocable Excess Spread with respect to such Distribution Date and (ii) the amount of funds in the Reserve Fund which are available pursuant to Section 4.08(a) and Section 4.08(d), as applicable, to cover any portion of the Deficiency Amount. The lesser of the Deficiency Amount and the Available Subordinated Amount shall be the "Required Subordination Draw Amount". SECTION 4.06. Application of Investor Non-Principal Collections, Investment Proceeds and Available Investor Principal Collections. The Servicer shall cause the Trustee to apply, on each Distribution Date, commencing with the Initial Distribution Date, Investor Non-Principal Collections, Investment Proceeds and Available Investor Principal Collections to make the following distributions:.

Appears in 1 contract

Samples: Series 1999 (Carco Auto Loan Master Trust)

Deficiency Amount. With respect to each Distribution Date, commencing with the Initial Distribution Payment Date, on ----------------- the related Determination Date, the Servicer shall determine the amount (the "Deficiency Amount"), if any, by which (a) the sum of (i) Monthly Interest for such Distribution Payment Date, (ii) any Monthly Interest previously due but not distributed to the Series 2000-B Certificateholders 1 Noteholders on a prior Distribution Payment Date, (iii) Additional Interest, if any, for such Distribution Date and any Additional Interest previously due but not distributed to the Series 2000-B Certificateholders on a prior Distribution Date; (iv) the Certificateholders Noteholders Monthly Servicing Fee for such Distribution Payment Date, (viv) the Investor Noteholder Default Amount, if any, for such Distribution Payment Date; , (vi) the Series 2000-B Allocation Percentage of the amount of any Adjustment Payment required to be deposited in the Collection Account pursuant to Section 3.09(a) of the Agreement with respect to the related Collection Period that has not been so deposited as of such Determination Date and (viiv) if such Distribution Payment Date constitutes the Final Payment Date, Date the sum of (A) the amount of any Carry-over Carryover Amount for such Distribution Payment Date, (B) the amount of any Carry-over Carryover Amount previously due but not previously distributed to Series 2000-B Certificateholders 1 Noteholders on a prior Distribution Payment Date, (C) the amount of any Additional Carry-over Carryover Amount for such Distribution Payment Date and (D) the amount of any Additional Carry-over Carryover Amount previously due but not previously paid distributed to Series 2000-B Certificateholders 1 Noteholders on a prior Distribution Payment Date, in each case that will not be satisfied on such date by application, pursuant to Section 4.04(b)(iii), of amounts on deposit in the Yield Supplement Account, exceeds (b) the sum of (i) Investor Noteholder Non-Principal Collections for such Distribution Payment Date plus any Investment Proceeds with respect to such Distribution Payment Date and (ii) the amount of funds in the Reserve Fund Account which are available pursuant to Section 4.08(a) and Section 4.08(d), as applicable, to cover any portion of the Deficiency Amount. The lesser of the Deficiency Amount and the Series 2000-1 Available Subordinated Amount shall be the "Required Subordination Draw Amount". SECTION 4.06. Application of Investor Non-Principal Collections, Investment Proceeds and Available Investor Principal Collections. The Servicer shall cause the Trustee to apply, on each Distribution Date, commencing with the Initial Distribution Date, Investor Non-Principal Collections, Investment Proceeds and Available Investor Principal Collections to make the following distributions:----------------------------------

Appears in 1 contract

Samples: Volkswagen Dealer Finance LLC

Deficiency Amount. With respect to each Distribution Date that occurs on or prior to the Fully Reinvested Date, commencing with the Initial Distribution Date, on the related Determination Date, the Servicer shall determine the amount (the "Deficiency Amount"), if any, by which (a) the sum of (i) Monthly Interest for such Distribution Date, (ii) any Monthly Interest previously due but not distributed to the Series 20001997-B 1 Certificateholders on a prior Distribution Date, (iii) Additional Interest, if any, for such Distribution Date and any Additional Interest previously due but not distributed to the Series 20001997-B 1 Certificateholders on a prior Distribution Date; (iv) Net Trust Swap Payments, if any, for such Distribution Date, (v) any unpaid Make-Whole Payment (together with interest thereon calculated pursuant to the Interest Rate Swap), (vi) the Certificateholders Monthly Servicing Fee for such Distribution Date, (vvii) the Investor Default Amount, if any, for such Distribution Date; (viviii) the Series 20001997-B 1 Allocation Percentage of the amount of any Adjustment Payment required to be deposited in the Collection Account pursuant to Section 3.09(a) of the Agreement with respect to the related Collection Period that has not been so deposited as of such Determination Date Date; and (viiix) if such Distribution Date constitutes the Final Payment Date, Date the sum of (A) the amount of any Carry-over Amount for such Distribution Date, (B) the amount of any Carry-over Amount previously due but not previously distributed to Series 2000-B Certificateholders the Swap Counterparty on a prior Distribution Date, (C) the amount of any Additional Carry-over Amount for such Distribution Date and (D) the amount of any Additional Carry-over Amount previously due but not previously paid to Series 2000-B Certificateholders the Swap Counterparty on a prior Distribution Date, in each case that will not be satisfied on such date by application, pursuant to Section 4.04(b)(iii), of amounts on deposit in the Yield Supplement AccountAccount or by application of Available Seller's Collections pursuant to Section 4.08(f), exceeds (b) the sum of (i) Investor Non-Principal Collections for such Distribution Date plus any Investment Proceeds with respect to such Distribution Date Date, (ii) Net Trust Swap Receipts, if any, for such Distribution Date, (iii) any unpaid Make-Whole Receipt (together with interest thereon calculated pursuant to the Interest Rate Swap) and (iiiv) the amount of funds in the Reserve Fund which are available pursuant to Section 4.08(a) and Section 4.08(d), as applicable, ) to cover any portion of the Deficiency Amount. The lesser of the Deficiency Amount and the Available Subordinated Amount shall be the "Required Subordination Draw Amount". SECTION 4.06. Application of Investor Non-Principal Collections, Investment Proceeds and Available Investor Principal Collections. The Servicer shall cause the Trustee to apply, on each Distribution Date, commencing with the Initial Distribution Date, Investor Non-Principal Collections, Investment Proceeds and Available Investor Principal Collections to make the following distributions:.

Appears in 1 contract

Samples: Series 1997 (Carco Auto Loan Master Trust)

Deficiency Amount. With respect to each Distribution Date, commencing with the Initial Distribution Date, on the related Determination Date, the Servicer shall determine the amount (the "Deficiency Amount"), if any, by which (a) the sum of (i) Monthly Interest for such Distribution Date, (ii) any Monthly Interest previously due but not distributed to the Series 20001996-B 1 Certificateholders on a prior Distribution Date, (iii) Additional Interest, if any, for such Distribution Date and any Additional Interest previously due but not distributed to the Series 20001996-B 1 Certificateholders on a prior Distribution Date; (iv) the Certificateholders Monthly Servicing Fee for such Distribution Distribu tion Date, (v) the Investor Default Amount, if any, for such Distribution Date; (vi) the Series 20001996-B 1 Allocation Percentage of the amount of any Adjustment Payment required to be deposited in the Collection Account pursuant to Section 3.09(a) of the Agreement with respect to the related Collection Period that has not been so deposited as of such Determination Date Date; and (vii) if such Distribution Date constitutes the Final Payment Date, Date the sum of (A) the amount of any Carry-over Amount for such Distribution Date, (B) the amount of any Carry-over Amount previously due but not previously distributed to Series 20001996-B 1 Certificateholders on a prior Distribution Date, (C) the amount of any Additional Carry-over Amount for such Distribution Date and (D) the amount of any Additional Carry-over Amount previously due but not previously paid to Series 20001996-B 1 Certificateholders on a prior Distribution Date, in each case that will not be satisfied on such date by application, pursuant to Section 4.04(b)(iii), of amounts on deposit in the Yield Supplement Account, exceeds (b) the sum of (i) Investor Non-Principal Collections for such Distribution Date plus any Investment Proceeds with respect to such Distribution Date and (ii) the amount of funds in the Reserve Fund which are available pursuant to Section 4.08(a) and Section 4.08(d), as applicable, ) to cover any portion of the Deficiency Amount. The lesser of the Deficiency Amount and the Available Subordinated Amount shall be the "Required Subordination Draw Amount". SECTION 4.06. Application of Investor Non-Principal Collections, Investment Proceeds and Available Investor Principal Collections. The Servicer shall cause the Trustee to apply, on each Distribution Date, commencing with the Initial Distribution Date, Investor Non-Principal Collections, Investment Proceeds and Available Investor Principal Collections to make the following distributions:.

Appears in 1 contract

Samples: Carco Auto Loan Master Trust

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Deficiency Amount. With respect to each Distribution Date, commencing with the Initial Distribution Date, on the related Determination Date, the Servicer shall determine the amount (the "Deficiency Amount"), if any, by which (a) the sum of (i) Monthly Interest for such Distribution Date, (ii) any Monthly Interest previously due but not distributed to the Series 20001995-B 1 Master Custodial Certificateholders on a prior Distribution Date, (iii) Additional InterestInterest Amount, if any, for such Distribution Date and any Additional Interest Amount previously due but not distributed to the Series 20001995-B 1 Master Custodial Certificateholders on a prior Distribution Date; , (iv) the Certificateholders Series 1995-1 Monthly Servicing Fee Fee, if any, for such Distribution Date, (v) the Investor Default Amount, if any, for such Distribution Date; , (vi) the Series 20001995-B 1 Allocation Percentage of the amount of any Adjustment Payment required to be deposited in the Collection Account pursuant to Section 3.09(a) of the Agreement with respect to the related Collection Period that has not been so deposited as of such Determination Date Date, and (vii) if such Distribution Date constitutes the earlier of the Final Payment Date and the Termination Date, the sum of (A) the amount of any Carry-over Amount for such Distribution Date, (B) the amount of any Carry-over Amount previously due but not previously distributed to relevant Series 20001995-B 1 Certificateholders on a prior Distribution Date, (C) the amount of any Additional Carry-over Amount for such Distribution Date and (D) the amount of any Additional Carry-over Amount previously due but not previously paid to relevant Series 20001995-B 1 Certificateholders on a prior Distribution Date, in each case that will not be satisfied on such date by application, pursuant to Section 4.04(b)(iii4.8(c), of amounts on deposit in the Yield Supplement Account, exceeds (b) the sum of (i) Investor Non-Principal Collections for such Distribution Date, Available Seller's Non-Principal Collections for such Distribution Date plus and any Investment Proceeds with respect to such Distribution Date and (ii) the amount of funds in the Reserve Fund which are available pursuant to Section 4.08(a4.8(a) and Section 4.08(d), as applicable, to cover any portion of the Deficiency Amount. The lesser of the Deficiency Amount and the Available Subordinated Amount shall be the "Required Subordination Draw Amount". SECTION 4.06. Application of Investor Non-Principal Collections, Investment Proceeds and Available Investor Principal Collections. The Servicer shall cause the Trustee to apply, on each Distribution Date, commencing with the Initial Distribution Date, Investor Non-Principal Collections, Investment Proceeds and Available Investor Principal Collections to make the following distributions:.

Appears in 1 contract

Samples: Master Custodial and Servicing Agreement (Chrysler Financial Corp)

Deficiency Amount. With respect to each Distribution Date, commencing with the Initial Distribution Date, on the related Determination Date, the Servicer shall determine the amount (the "Deficiency Amount"), if any, by which (a) the sum of (i) Monthly Interest for such Distribution Date, ; (ii) any Monthly Interest previously due but not distributed to the Series 20001995-B 5 Certificateholders on a prior Distribution Date, ; (iii) Additional Interest, if any, for such Distribution Date and any Additional Interest previously due but not distributed to the Series 20001995-B 5 Certificateholders on a prior Distribution Date; (iv) the Certificateholders Certificateholders' Monthly Servicing Fee for such Distribution Date, ; (v) the Investor Default Amount, if any, for such Distribution Date; (vi) the Series 20001995-B 5 Allocation Percentage of the amount of any Adjustment Payment required to be deposited in the Collection Account pursuant to Section 3.09(a) of the Agreement with respect to the related Collection Period that has not been so deposited as of such Determination Date Date; and (vii) if such Distribution Date constitutes the Final Payment Date, Date the sum of (A) the amount of any Carry-over Amount for such Distribution Date, (B) the amount of any Carry-over Amount previously due but not previously distributed to Series 20001995-B 5 Certificateholders on a prior Distribution Date, (C) the amount of any Additional Carry-over Amount for such Distribution Date and (D) the amount of any Additional Carry-over Amount previously due but not previously paid to Series 20001995-B Certificateholders 5 Certificate- holders on a prior Distribution Date, in each case that will not be satisfied on such date by application, pursuant to Section 4.04(b)(iii), of amounts on deposit in the Yield Supplement Account, exceeds (b) the sum of (i) Investor Non-Principal Collections for such Distribution Date plus any Investment Proceeds with respect to such Distribution Date and (ii) the amount of funds in the Reserve Fund which are available pursuant to Section 4.08(a) and Section 4.08(d), as applicable, ) to cover any portion of the Deficiency Amount. The lesser of the Deficiency Amount and the Available Subordinated Amount shall be the "Required Subordination Draw Amount". SECTION 4.06. Application of Investor Non-Principal Collections, Investment Proceeds and Available Investor Principal Collections. The Servicer shall cause the Trustee to apply, on each Distribution Date, commencing with the Initial Distribution Date, Investor Non-Principal Collections, Investment Proceeds and Available Investor Principal Collections to make the following distributions:

Appears in 1 contract

Samples: Carco Auto Loan Master Trust

Deficiency Amount. With respect to each Distribution Date, commencing with the Initial Distribution Date, on the related Determination Date, the Servicer shall determine the amount (the "Deficiency Amount"), if any, by which (a) the sum of (i) Monthly Interest for such Distribution Date, (ii) any Monthly Interest previously due but not distributed to the Series 2000-B C Certificateholders on a prior Distribution Date, (iii) Additional Interest, if any, for such Distribution Date and any Additional Interest previously due but not distributed to the Series 2000-B C Certificateholders on a prior Distribution Date; (iv) the Certificateholders Monthly Servicing Fee for such Distribution Date, (v) the Investor Default Amount, if any, for such Distribution Date; (vi) the Series 2000-B C Allocation Percentage of the amount of any Adjustment Payment required to be deposited in the Collection Account pursuant to Section 3.09(a) of the Agreement with respect to the related Collection Period that has not been so deposited as of such Determination Date and (vii) if such Distribution Date constitutes the Final Payment Date, the sum of (A) the amount of any Carry-over Amount for such Distribution Date, (B) the amount of any Carry-over Amount previously due but not previously distributed to Series 2000-B C Certificateholders on a prior Distribution Date, (C) the amount of any Additional Carry-over Amount for such Distribution Date and (D) the amount of any Additional Carry-over Amount previously due but not previously paid to Series 2000-B C Certificateholders on a prior Distribution Date, in each case that will not be satisfied on such date by application, pursuant to Section 4.04(b)(iii), of amounts on deposit in the Yield Supplement Account, exceeds (b) the sum of (i) Investor Non-Principal Collections for such Distribution Date plus any Investment Proceeds with respect to such Distribution Date and (ii) the amount of funds in the Reserve Fund which are available pursuant to Section 4.08(a) and Section 4.08(d), as applicable, to cover any portion of the Deficiency Amount. The lesser of the Deficiency Amount and the Available Subordinated Amount shall be the "Required Subordination Draw Amount". SECTION 4.06. Application of Investor Non-Principal Collections, Investment Proceeds and Available Investor Principal Collections. The Servicer shall cause the Trustee to apply, on each Distribution Date, commencing with the Initial Distribution Date, Investor Non-Principal Collections, Investment Proceeds and Available Investor Principal Collections to make the following distributions:

Appears in 1 contract

Samples: Carco Auto Loan Master Trust

Deficiency Amount. With respect to each Distribution Date, commencing with the Initial Distribution Date, on the related Determination Date, the Servicer shall determine the amount (the "Deficiency Amount"), if any, by which (a) the sum of (i) Monthly Interest for such Distribution Date, (ii) any Monthly Interest previously due but not distributed to the Series 20001996-B 2 Certificateholders on a prior Distribution Date, (iii) Additional Interest, if any, for such Distribution Date and any Additional Interest previously due but not distributed to the Series 20001996-B 2 Certificateholders on a prior Distribution Date; (iv) the Certificateholders Monthly Servicing Fee for such Distribution Date, (v) the Investor Default Amount, if any, for such Distribution Date; (vi) the Series 20001996-B 2 Allocation Percentage of the amount of any Adjustment Payment required to be deposited in the Collection Account pursuant to Section 3.09(a) of the Agreement with respect to the related Collection Period that has not been so deposited as of such Determination Date Date; and (vii) if such Distribution Date constitutes the Final Payment Date, Date the sum of (A) the amount of any Carry-over Amount for such Distribution Date, (B) the amount of any Carry-over Amount previously due but not previously distributed to Series 20001996-B 2 Certificateholders on a prior Distribution Date, (C) the amount of any Additional Carry-over Amount for such Distribution Date and (D) the amount of any Additional Carry-over Amount previously due but not previously paid to Series 20001996-B 2 Certificateholders on a prior Distribution Date, in each case that will not be satisfied on such date by application, pursuant to Section 4.04(b)(iii), of amounts on deposit in the Yield Supplement Account, exceeds (b) the sum of (i) Investor Non-Principal Collections for such Distribution Date plus any Investment Proceeds with respect to such Distribution Date and (ii) the amount of funds in the Reserve Fund which are available pursuant to Section 4.08(a) and Section 4.08(d), as applicable, ) to cover any portion of the Deficiency Amount. The lesser of the Deficiency Amount and the Available Subordinated Amount shall be the "Required Subordination Draw Amount". SECTION 4.06. Application of Investor Non-Principal Collections, Investment Proceeds and Available Investor Principal Collections. The Servicer shall cause the Trustee to apply, on each Distribution Date, commencing with the Initial Distribution Date, Investor Non-Principal Collections, Investment Proceeds and Available Investor Principal Collections to make the following distributions:.

Appears in 1 contract

Samples: Carco Auto Loan Master Trust

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