Excess Servicing. The Servicer shall direct the Trustee to apply (and the Trustee shall so apply), on each Distribution Date, Excess Servicing for such Distribution Date to make the following distributions in the following priority: (a) an amount equal to the aggregate outstanding amounts of the Monthly Servicing Fee which have been previously waived pursuant to Section 3.1 shall be distributed to the Servicer; and (b) the balance, if any, shall be distributed to the Seller.
Appears in 5 contracts
Sources: Pooling and Servicing Agreement (Deutsche Floorplan Receivables L P), Pooling and Servicing Agreement (Distribution Financial Services Floorplan Master Trust), Pooling and Servicing Agreement (Deutsche Floorplan Receivables L P)
Excess Servicing. The Servicer shall direct the Trustee to apply (and the Trustee shall so apply), on each Distribution Date, Excess Servicing for with respect to the Collection Period immediately preceding such Distribution Date Date, to make the following distributions in the following priority:
(a) an amount equal to the aggregate outstanding amounts of the Certificateholders' Monthly Servicing Fee which have been previously waived pursuant to Section 3.1 shall be distributed to the Servicer; and
(b) the balance, if any, shall be distributed to the Seller.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Deutsche Floorplan Receivables L P)
Excess Servicing. The Servicer shall direct cause the Trustee to apply (and the Trustee shall so apply), on each Distribution Date, Excess Servicing for with respect to the Collection Period immediately preceding such Distribution Date Date, to make the following distributions in the following priority:
(a) an amount equal to the aggregate outstanding amounts of the Certificateholders' Monthly Servicing Fee which have been previously waived pursuant to Section 3.1 shall be distributed to the Servicer; and
(b) the balance, if any, shall be distributed to the Seller.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Deutsche Floorplan Receivables L P)
Excess Servicing. The Servicer shall direct cause the Trustee to apply (and the Trustee shall so ---------------- apply), on each Distribution Date, Excess Servicing for with respect to the Collection Period immediately preceding such Distribution Date Date, to make the following distributions in the following priority:
(a) an amount equal to the aggregate outstanding amounts of the Certificateholders' Monthly Servicing Fee which have been previously waived pursuant to Section 3.1 shall be distributed to the Servicer; and
(b) the balance, if any, shall be distributed to the Seller.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Deutsche Floorplan Receivables L P)