Common use of Investor Charge-Offs Clause in Contracts

Investor Charge-Offs. (a) On each Distribution Date, -------------------- the Servicer shall calculate the Class A Investor Default Amount, if any, for such Distribution Date. If on any Distribution Date, the Class A Investor Default Amount exceeds the Available Cash Collateral Amount and the amount of Reallocated Principal Collections with respect to such Due Period available therefor, then the Collateral Invested Amount (after giving effect to any reductions pursuant to subsections (b) and (c) below) shall be reduced by the amount of such excess, but not by more than the Class A Investor Default Amount for such Distribution Date. In the event that such reduction would cause the Collateral Invested Amount to be a negative number, the Collateral Invested Amount shall be reduced to zero and the Class A Invested Amount shall be reduced by the amount by which the Collateral Invested Amount would have been reduced below zero, but not by more than the Class A Investor Default Amount for such Distribution Date (a "Class A Investor Charge-Off"). Class A Investor Charge- Offs shall thereafter be reimbursed and the Class A Invested Amount increased (but not by an amount in excess of the aggregate Class A Investor Charge-Offs) on any Distribution Date by the amount of Excess Spread available for such purpose pursuant to Section 4.09.

Investor Charge-Offs. (a) On each Distribution Date, -------------------- the Servicer shall calculate the Class A Investor Default Amount, if any, for such Distribution Date. If on any Distribution Date, the Class A Investor Default Amount for such Distribution Date exceeds the Available Cash Collateral Amount and sum of the amount allocated with respect thereto pursuant to subsection 4.09(a)(iii), subsection 4.13(a) and Section 4.14 of Reallocated Principal Collections the Agreement with respect to the Monthly Period immediately preceding such Due Period available thereforDistribution Date, then the Excess Collateral Invested Amount (after giving effect to any reductions pursuant to subsections (b) and (c) below) shall will be reduced by the amount of such excess, but not by more than the Class A Investor Default Excess Collateral Amount for such Distribution Date. In the event that, but for the limitation on the amount of such reduction in the preceding sentence, such reduction would cause the Excess Collateral Amount to be a negative number, the Excess Collateral Amount will be reduced to zero, and the Class B Invested Amount will be reduced by the amount by which the Excess Collateral Amount would have been reduced below zero. In the event that such reduction would cause the Collateral Class B Invested Amount to be a negative number, the Collateral Class B Invested Amount shall will be reduced to zero zero, and the Class A Invested Amount shall be reduced by the amount by which the Collateral Invested Amount would have been reduced below zero, but not by more than the Class A Investor Default Amount for such Distribution Date (a "Class A Investor Charge-Off"). Class A Investor Charge- Offs shall thereafter be reimbursed and the Class A Invested Amount increased (but not by an amount in excess of the aggregate Class A Investor Charge-Offs) on any Distribution Date by the amount of Excess Spread available for such purpose pursuant to Section 4.09.A

Investor Charge-Offs. (a) On or before each Distribution Transfer Date, -------------------- the Servicer shall calculate the Class A Investor Default Amount. If, if any, for such Distribution Date. If on any Distribution Transfer Date, the Class A Investor Default Amount for the prior Monthly Period exceeds the sum of Available Funds allocated with respect thereto pursuant to Section 4.11(a)(vii) the amount withdrawn from the Cash Collateral Amount and the amount of Reallocated Principal Collections Account for such allocation pursuant to Section 4.17 with respect to such Due Period available thereforMonthly Period, then the Collateral Class B Invested Amount (after giving effect to any reductions pursuant to subsections (b) and (c) below) shall will be reduced by the amount of such excess, but not by more than the lesser of the remaining Class A Investor Default Amount for such Distribution Transfer Date and the Class B Invested Amount (after giving effect to reductions for any Class B Charge-Offs and any Reallocated Principal Collections on such Transfer Date). In the event that If such reduction would cause the Collateral Class B Invested Amount to be a negative number, the Collateral Class B Invested Amount shall will be reduced to zero and the Class A M Invested Amount shall will be reduced by the amount by which the Collateral Class B Invested Amount (after giving effect to reductions for any Class B Charge-Offs and any Reallocated Principal Collections on such Transfer Date) would have been reduced below zero. If such reduction would cause the Class M Invested Amount to be a negative number, the Class A Invested Amount will be reduced by the amount by which the Class M Invested Amount (after giving effect to reductions for any Class M Charge-Offs and any Reallocated Principal Collections for such Transfer Date) would have been reduced below zero, but not by more than the Class A Investor Default Amount for such Distribution Date (a "Class A Investor Charge-Off"). Class A Investor Charge- Offs shall thereafter be reimbursed and the Class A Invested Amount increased (but not by an amount in excess of the aggregate Class A Investor Charge-Offs) on any Distribution Date by the amount of Excess Spread available for such purpose pursuant to Section 4.09.than

Investor Charge-Offs. (a) On each Distribution Date, -------------------- the Servicer shall calculate the Class A Investor Default Amount, if any, for such Distribution Date. If on any Distribution Date, the Class A Investor Default Amount exceeds the Available Cash Collateral Amount and the amount of Reallocated Principal Collections with respect to such Due Period available therefor, then the Collateral Invested Amount (after giving effect to any reductions pursuant to subsections (b) and (c) below) shall be reduced by the amount of such excess, but not by more than the Class A Investor Default Amount for such Distribution Date. In the event that such reduction would cause the Collateral Invested Amount to be a negative number, the Collateral Invested Amount shall be reduced to zero and the Class A Invested Amount shall be reduced by the amount by which the Collateral Invested Amount would have been reduced below zero, but not by more than the Class A Investor Default Amount for such Distribution Date (a "Class A Investor Charge-Off"). Class A Investor Charge- Offs shall thereafter be reimbursed and the Class A Invested Amount increased (but not by an amount in excess of the aggregate Class A Investor Charge-Offs) on any Distribution Date by the amount of Excess Ex cess Spread available for such purpose pursuant to Section 4.09.