Common use of Excess Servicing Clause in Contracts

Excess Servicing. The Servicer shall cause the Trustee to apply, on each Distribution Date, Excess Servicing with respect to the Collection Period immediately preceding such Distribution Date, to make the following distributions in the following priority: (a) an amount equal to the aggregate amount of Investor Charge-Offs which have not been previously reimbursed as provided in Section 4.09 (after giving effect to the allocation on such Distribution Date of any amount for that purpose pursuant to Section 4.09) shall be treated as a portion of Available Investor Principal Collections with respect to such Distribution Date; (b) an amount equal to the aggregate outstanding amounts of the Certificateholders Monthly Servicing Fee which have been previously waived pursuant to Section 3.01 shall be distributed to the Servicer; and (c) the balance, if any, shall be distributed to the Seller.

Excess Servicing. The Master Servicer shall cause ---------------- the Trustee to apply, on each Distribution Date, Excess Servicing with respect to the Collection Period immediately preceding such Distribution Date, to make the following distributions in the following priority: (a) an amount equal to the aggregate amount of Investor Charge-Offs which have not been previously reimbursed as provided in Section 4.09 (after giving effect to the allocation on such Distribution Date of any amount for that purpose pursuant to Section 4.09) shall be treated as a portion of Available Investor Principal Collections with respect to such Distribution Date; (b) an amount equal to the aggregate outstanding amounts of the Certificateholders Certificateholder's Monthly Servicing Fee which have been previously waived pursuant to Section 3.01 shall be distributed to the Master Servicer; and (c) the balance, if any, shall be distributed to the SellerTransferor.

Excess Servicing. The Servicer shall cause the Trustee to apply, on each Distribution Date, Excess Servicing commencing with respect to the Collection Period immediately preceding such Initial Distribution Date, to make the following distributions in the following priority:Excess Servicing with (a) an amount equal to the aggregate amount of Investor Charge-Offs which have not been previously reimbursed as provided in Section 4.09 (after giving effect to the allocation on such Distribution Date of any amount for that purpose pursuant to Section 4.09) shall be treated as a portion of Available Investor Principal Collections with respect to such Distribution Date; (b) an amount equal to the aggregate outstanding amounts of the Certificateholders Monthly Servicing Fee which have been previously waived pursuant to Section 3.01 shall be distributed to the Servicer; and (c) the balance, if any, shall be distributed to the Seller.