Common use of Interest Allocations Clause in Contracts

Interest Allocations. On each Distribution Date, (i) the Trustee shall deposit into the Note Distribution Account all funds on deposit in the Reserve Fund and (ii) the Trustee shall withdraw, in accordance with the Quarterly Report, from the Note Distribution Account (A) the Interest Collections and (B) amounts deposited therein from the Reserve Fund to the extent necessary to make the following payments. The payments listed below will be made only to the extent there are sufficient amounts available in the Note Distribution Account on the Distribution Date; provided that if on the initial Distribution Date, the amounts on deposit in the Note Distribution Account are not sufficient to make the following payments, the Servicer may make a Servicing Advance to the extent of the deficiency (subject to the Servicer’s reasonable expectation that the payments on the Loans with respect to which such Servicing Advance is made will be paid on the next payment date under the Loans) by making a deposit in 119 the Note Distribution Account no later than the Business Day preceding such Distribution Date. Payments will be made in the order of priority listed below. With respect to pro rata payments of principal on the Notes, such payments shall be made pro rata to the Classes of Notes then outstanding based on the respective Outstanding Principal Balance of each such Class of Notes as of the last day of the Due Period as set forth in the Quarterly Report. If on any Pro Rata Distribution Date the Outstanding Principal Balance of any Class of Notes shall be reduced to zero after application of any payments in respect of principal on such Distribution Date, the amount remaining for distribution in respect of principal on such date shall be distributed pro rata to the Classes of Notes which then have Outstanding Principal Balances based on the respective original principal amounts of such Classes of Notes. Payments shall be made in the following order of priority:

Interest Allocations. On each Distribution Date, (i) the Trustee shall deposit into the Note Distribution Account all funds on deposit in the Reserve Fund and (ii) the Servicer shall instruct the Trustee in writing to withdraw, and on the related Distribution Date the Trustee shall withdraw, in accordance with the Quarterly Report, withdraw from the Note Distribution Account (A) the Interest Collections and (B) amounts deposited therein from the Reserve Fund to the extent necessary to make the following payments. The payments listed below will be made only to the extent there are sufficient amounts available in the Note Distribution Account on the Distribution Date; provided that if on the initial Distribution Date, the amounts on deposit in the Note Distribution Account are not sufficient to make the following payments, the Servicer may make a Servicing Advance to the extent of the deficiency (subject to the Servicer’s reasonable expectation that the payments on the Loans with respect to which such Servicing Advance is made will be paid on the next payment date under the Loans) by making a deposit in 119 the Note Distribution Account no later than the Business Day preceding such Distribution Date. Payments will be made in the order of priority listed below. With On any Pro Rata Distribution Date and with respect to pro rata payments of principal on of the NotesNotes as described herein, such payments shall be made pro rata to the Classes of Notes then outstanding based on the respective Original Principal Amounts of such Classes of Notes with respect to which such payments are made, and any amount of principal to be paid pro rata solely between the Class A-1 Notes and the Class A-2 Notes will be paid based on the Outstanding Principal Balance of each such the Class of A-1 Notes as of and the last day of the Due Period as set forth in the Quarterly ReportClass A-2 Notes. If on any Pro Rata Distribution Date the Outstanding Principal Balance of any Class of Notes shall be reduced to zero after application of any payments in respect of principal on such Distribution Date, the amount remaining for distribution in respect of principal on such date shall be distributed pro rata to the Classes of Notes which then have Outstanding Principal Balances based on the respective original principal amounts Original Principal Amounts of such Classes of Notes. Payments shall will be made in the following order of priority:.

Interest Allocations. On each Distribution Date, (i) the Indenture Trustee shall deposit into the Note Distribution Account all funds on deposit in the Reserve Fund and (ii) the Servicer shall instruct the Indenture Trustee in writing to withdraw, and on the related Distribution Date the Indenture Trustee shall withdraw, in accordance with the Quarterly Report, withdraw from the Note Distribution Account (A) the Interest Collections and (B) amounts deposited therein from the Reserve Fund to the extent necessary to make the following payments. The payments listed below will be made only to the extent there are sufficient amounts available in the Note Distribution Account on the Distribution Date; provided that if on the initial Distribution Date, the amounts on deposit in the Note Distribution Account are not sufficient to make the following payments, the Servicer may make a Servicing Advance to the extent of the deficiency (subject to the Servicer’s reasonable expectation that the payments on the Loans with respect to which such Servicing Advance is made will be paid on the next payment date under the Loans) by making a deposit in 119 the Note Distribution Account no later than the Business Day preceding such Distribution Date. Payments will be made in the order of priority listed below. With respect to pro rata payments of principal on of the NotesNotes as described herein, such payments shall be made pro rata to the Classes of Notes then outstanding based on the respective original principal amounts of such Classes of Notes with respect to which such payments are made, and any amount of principal to be paid pro rata solely between the Class A-l Notes and the Class A-2 Notes will be paid based on the Outstanding Principal Balance of each such the Class of A-l Notes as of and the last day of the Due Period Class A-2 Notes as set forth in the Quarterly ReportReport for the related Determination Date. If on any Pro Rata Distribution Date the Outstanding Principal Balance of any Class of Notes shall be reduced to zero after application of any payments in respect of principal on such Distribution Date, the amount remaining for distribution in respect of principal on such date shall be distributed pro rata to the Classes of Notes which then have Outstanding Principal Balances based on the respective original principal amounts of such Classes of Notes. Payments shall will be made in the following order of priority:.

Interest Allocations. On each Distribution Date, (i) the Trustee shall deposit into the Note Distribution Account all funds on deposit in the Reserve Fund and (ii) the Servicer shall instruct the Trustee in writing to withdraw, and on the related Distribution Date the Trustee shall withdraw, in accordance with the Quarterly Report, withdraw from the Note Distribution Account (A) the Interest Collections and (B) amounts deposited therein from the Reserve Fund to the extent necessary to make the following payments. The payments listed below will be made only to the extent there are sufficient amounts available in the Note Distribution Account on the Distribution Date; provided that if on the initial Distribution Date, the amounts on deposit in the Note Distribution Account are not sufficient to make the following payments, the Servicer may make a Servicing Advance to the extent of the deficiency (subject to the Servicer’s reasonable expectation that the payments on the Loans with respect to which such Servicing Advance is made will be paid on the next payment date under the Loans) by making a deposit in 119 the Note Distribution Account no later than the Business Day preceding such Distribution Date. Payments will be made in the order of priority listed below. With On any Pro Rata Distribution Date and with respect to pro rata payments of principal on of the NotesNotes as described herein, such payments shall be made pro rata to the Classes of Notes then outstanding based on the respective original principal amounts of such Classes of Notes with respect to which such payments are made, and any amount of principal to be paid pro rata solely between the Class A-l Notes and the Class A-2 Notes will be paid based on the Outstanding Principal Balance of each such the Class of A-l Notes as of and the last day of the Due Period Class A-2 Notes as set forth in the Quarterly ReportReport for the related Due Period. If on any Pro Rata Distribution Date the Outstanding Principal Balance of any Class of Notes shall be reduced to zero after application of any payments in respect of principal on such Distribution Date, the amount remaining for distribution in respect of principal on such date shall be distributed pro rata to the Classes of Notes which then have Outstanding Principal Balances based on the respective original principal amounts of such Classes of Notes. Payments shall will be made in the following order of priority:.