Common use of Disbursements of Monies from Payment Account Clause in Contracts

Disbursements of Monies from Payment Account. (a) Notwithstanding any other provision herein, but subject to the other sub-sections of this Section 11.1 and to Section 13.1, on each Payment Date and, if elected by the Collateral Manager, on each Redemption Distribution Date, the Trustee shall disburse amounts transferred from the Collection Account to the Payment Account pursuant to Section 10.2 in accordance with the following priorities (the “Priority of Payments”); provided that, unless an Enforcement Event has occurred and is continuing, (x) amounts transferred from the Interest Collection Subaccount shall be applied solely in accordance with Section 11.1(a)(i); and (y) amounts transferred from the Principal Collection Subaccount shall be applied solely in accordance with Section 11.1(a)(ii).

Disbursements of Monies from Payment Account. (a) Notwithstanding any other provision herein, but subject to the other sub-sections Sections of this Section 11.1 and to Section 13.1, on each Payment Date andDate, if elected by the Collateral Manager, and on each Redemption Distribution Date and each Re-Pricing Date, the Trustee shall disburse amounts transferred from the Collection Account to the Payment Account pursuant to Section 10.2 in accordance with the following priorities (the “Priority of Payments”); provided that, unless an Enforcement Event has occurred and is continuing, (x) amounts transferred from the Interest Collection Subaccount shall be applied solely in accordance with Section 11.1(a)(i); and (y) amounts transferred from the Principal Collection Subaccount shall be applied solely in accordance with Section 11.1(a)(ii).

Disbursements of Monies from Payment Account. (a) Notwithstanding any other provision hereinin this Indenture, but subject to the other sub-sections subsections of this Section 11.1 and to Section 13.1the Bankruptcy Subordination Agreement, on each Payment Date and, if elected by the Collateral Manager, on each Redemption Distribution Date, the Trustee shall disburse amounts transferred transferred, if any, from the Collection Account to the Payment Account pursuant to Section 10.2 in accordance with the following priorities (the “Priority of PaymentsDistributions”); provided that, unless an Enforcement Event has occurred and is continuing, except with respect to a Post-Acceleration Distribution Date or the Stated Maturity (x) amounts transferred transferred, if any, from the Interest Collection Subaccount Account shall be applied solely in accordance with Section 11.1(a)(i); and (y) amounts transferred transferred, if any, from the Principal Collection Subaccount Account shall be applied solely in accordance with Section 11.1(a)(ii).

Disbursements of Monies from Payment Account. (a) Notwithstanding any other provision herein, but subject to the other sub-sections of this Section 11.1 and to Section 13.1, on each Payment Date and, if elected by the Collateral Manager, on each Redemption Distribution Date, the Trustee shall disburse amounts transferred from the Collection Account to the Payment Account pursuant to Section 10.2 in accordance with the following priorities (the “"Priority of Payments”"); provided that, unless an Enforcement Event has occurred and is continuing, (x) amounts transferred from the Interest Collection Subaccount shall be applied solely in accordance with Section 11.1(a)(i); and (y) amounts transferred from the Principal Collection Subaccount shall be applied solely in accordance with Section 11.1(a)(ii).