Common use of Funds Under Sale Agreement Clause in Contracts

Funds Under Sale Agreement. Upon the written request of the Administrator, on Transferee's behalf, given at any time when (i) based on the most recent Monthly Report or Interim Report, the Asset Interest would exceed 100% or the Transferee's Total Investment would exceed the Transfer Limit, or (ii) a Liquidation Event or Unmatured Liquidation Event shall have occurred and be continuing, Transferor shall set aside all funds that under the Sale Agreement would be applied either to repay principal of the Subordinated Notes owing to the Originators or to pay dividends to the Originators. Transferor may make withdrawals of such funds only for the purposes of (i) at any time, purchasing Receivables from the Originators in accordance with the Sale Agreement; (ii) making payments to reduce Transferee's Total Investment in accordance with the Section 3.01(c)(iii), and (iii) on the Settlement Date for any Settlement Period, if, on the basis of the most recent Monthly Report, and after giving effect to any payment made to Servicer to reduce Transferee's Total Investment on such date pursuant to Section 3.01(c)(iii), the Transferee's Total Investment does not exceed the Transfer Limit and the Asset Interest does not exceed 100%, and provided that no Liquidation Event or Unmatured Liquidation Event shall have occurred and be continuing, repaying principal of the Subordinated Notes or paying dividends in accordance with this Agreement and the Sale Agreement.

Funds Under Sale Agreement. Upon the written request of the AdministratorAgent, on Transfereethe Purchaser's behalf, given at any time when (i) based on the most recent Monthly Report or Interim Settlement Report, the Asset Interest would exceed 100% the Allocation Limit or the Transferee's Total Investment sum of (A) the Invested Amount and (B) the Aggregate Accruals would exceed the Transfer Purchase Limit, or (ii) a Liquidation Event or Unmatured Liquidation Event shall have occurred and be continuing, Transferor the Seller shall set aside hold all funds that under the Sale Agreement would be applied either to repay principal of the Subordinated Seller Notes owing to the Originators or to pay dividends to the Originators. Transferor The Seller may make withdrawals of such funds only for the purposes of (i) at any time, purchasing Receivables from the Originators any Originator in accordance with the Sale Agreement; (ii) on the Settlement Date for any Settlement Period, making payments to reduce Transferee's Total Investment in accordance with the last sentence of Section 3.01(c)(iii3.1(c)(ii), and (iii) on the Settlement Date for any Settlement Period, if, on the basis of the most recent Monthly Settlement Report, and after giving effect to any payment made to the Master Servicer to reduce Transferee's Total Investment on such date pursuant to the last sentence of Section 3.01(c)(iii3.1(c)(ii), the Transferee's Total Investment sum of (A) the Invested Amount and (B) the Aggregate Accruals does not exceed the Transfer Purchase Limit and the Asset Interest does not exceed 100%the Allocation Limit, and provided that no Liquidation Event or Unmatured Liquidation Event shall have occurred and be continuing, repaying principal of the Subordinated Seller Notes or paying dividends in accordance with this Agreement and the Sale Agreement.

Funds Under Sale Agreement. Upon the written request of the AdministratorAgent, on Transfereethe Purchaser's behalf, given at any time when (i) based on the most recent Monthly Report or Interim Settlement Report, the Asset Interest would exceed 100% or the Transferee's Total Investment Invested Amount would exceed the Transfer Purchase Limit, or (ii) a Liquidation Event or Unmatured Liquidation Event shall have occurred and be continuing, Transferor the Seller shall set aside hold all funds that under the Sale Agreement would be applied either to repay principal of the Subordinated Seller Notes owing to the Originators or to pay dividends to the Originators. Transferor The Seller may make withdrawals of such funds only for the purposes of (i) at any time, purchasing Receivables from the Originators any Originator in accordance with the Sale Agreement; (ii) on the Settlement Date for any Settlement Period, making payments to reduce Transferee's Total Investment in accordance with the last sentence of Section 3.01(c)(iii3.1(c)(ii), and (iii) on the Settlement Date for any Settlement Period, if, on the basis of the most recent Monthly Settlement Report, and after giving effect to any payment made to the Master Servicer to reduce Transferee's Total Investment on such date pursuant to the last sentence of Section 3.01(c)(iii3.1(c)(ii), the Transferee's Total Investment Invested Amount does not exceed the Transfer Purchase Limit and the Asset Interest does not exceed 100%, and provided that PROVIDED THAT no Liquidation Event or Unmatured Liquidation Event shall have occurred and be continuing, repaying principal of the Subordinated Seller Notes or paying dividends in accordance with this Agreement and the Sale Agreement.

Funds Under Sale Agreement. Upon the written request of the AdministratorAdministrative Agent, on Transfereethe Purchaser's behalf, given at any time when (i) based on the most recent Monthly Report or Interim ReportInformation Package, either (A) the Asset Interest would exceed 100% the Allocation Limit or the Transferee's Total Investment (B) Invested Amount would exceed the Transfer Purchase Limit, or (ii) a Liquidation Event or Unmatured Liquidation Event shall have occurred and be continuing, Transferor the Seller shall set aside and hold in trust for the Purchaser all funds that under the Sale Agreement would be applied either to repay principal of the Subordinated Notes owing to the Originators or to pay dividends to the OriginatorsNote. Transferor The Seller may make withdrawals of apply such funds only for the purposes of (i) at any time, purchasing Receivables from the Originators in accordance with the Sale Agreement; (ii) on the Settlement Date for any Settlement Period, making payments to reduce Transferee's Total Investment in accordance with the last sentence of Section 3.01(c)(iii3.1(c)(ii), and (iii) on the Settlement Date for any Settlement Period, if, on the basis of the most recent Monthly ReportInformation Package, and after giving effect to any payment made to Servicer to reduce Transferee's Total Investment the Servicers on such date pursuant to the last sentence of Section 3.01(c)(iii3.1(c)(ii), both (A) the Transferee's Total Investment Invested Amount does not exceed the Transfer Purchase Limit and (B) the Asset Interest does not exceed 100%the Allocation Limit, and provided that no Liquidation Event or Unmatured Liquidation Event shall have occurred and be continuing, repaying principal of the Subordinated Notes or paying dividends Note in accordance with this Agreement and the Sale Agreement.

Funds Under Sale Agreement. Upon the written request of the Administrator, on Transferee's behalf, given at any time when (i) based on the most recent Monthly Report or Interim Report, the Asset Interest would exceed 100% or the Transferee's Total Investment Aggregate Outstandings would exceed the Transfer Limit, or (ii) a Liquidation Event or Unmatured Liquidation Event shall have occurred and be continuing, Transferor shall set aside all funds that under the Sale Agreement would be applied either to repay principal of the Subordinated Notes owing to the Originators or to pay dividends to the Originators. Transferor may make withdrawals of such funds only for the purposes of (i) at any time, purchasing Receivables from the Originators in accordance with the Sale Agreement; (ii) on the Settlement Date for any Settlement Period, making payments to reduce Transferee's Total Investment in accordance with the last sentence of Section 3.01(c)(iii3.01(c)(ii), and (iii) on the Settlement Date for any Settlement Period, if, on the basis of the most recent Monthly Report, and after giving effect to any payment made to Servicer to reduce Transferee's Total Investment on such date pursuant to the last sentence of Section 3.01(c)(iii3.01(c)(ii), the Transferee's Total Investment Aggregate Outstandings does not exceed the Transfer Limit and the Asset Interest does not exceed 100%, and provided that no Liquidation Event or Unmatured Liquidation Event shall have occurred and be continuing, repaying principal of the Subordinated Notes or paying dividends in accordance with this Agreement and the Sale Agreement.