Common use of Excess Interest Collections Clause in Contracts

Excess Interest Collections. Any amounts remaining in the Collection Account to the extent of any Series Available Interest Collections remaining after giving effect to the withdrawals pursuant to subsection 4.9(a)(i) through (xi), shall be treated as Excess Interest Collections, and the Servicer shall direct the Trustee in writing on each Business Day to withdraw such amounts from the Collection Account and to first make such amounts available to pay to Certificateholders of other Series to the extent of shortfalls, if any, in amounts payable to such certificateholders from Interest Collections allocated to such other Series, then to pay any unpaid commercially reasonable costs and expenses of a Successor Servicer, if any, and then pay any remaining Excess Interest Collections to the Transferor.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Green Tree Financial Corp), Pooling and Servicing Agreement (Greentree Floorplan Funding Corp), Pooling and Servicing Agreement (Greentree Floorplan Funding Corp)

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Excess Interest Collections. Any amounts remaining in the --------------------------- Collection Account to the extent of any Series Available Interest Collections remaining after giving effect to the withdrawals pursuant to subsection 4.9(a)(i) through (xi), shall be treated as Excess Interest Collections, and the Servicer shall direct the Trustee in writing on each Business Day to withdraw such amounts from the Collection Account and to first make such amounts available to pay to Certificateholders of other Series to the extent of shortfalls, if any, in amounts payable to such certificateholders from Interest Collections allocated to such other Series, then to pay any unpaid commercially reasonable costs and expenses of a Successor Servicer, if any, and then pay any remaining Excess Interest Collections to the Transferor.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Greentree Floorplan Funding Corp), Pooling and Servicing Agreement (Greentree Floorplan Funding Corp)

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