Common use of Modified Priorities Following Liquidation Clause in Contracts

Modified Priorities Following Liquidation. Notwithstanding Section 5.1, on each Payment Date following the acceleration of the 2017-3 Exchange Note following an Exchange Note Default, the Indenture Trustee will, with respect to the 2017-3 Designated Pool (based on the information contained in the Servicer Report delivered with respect to such Payment Date), withdraw from the 2017-3 Exchange Note Collections Account an amount equal to the 2017-3 Designated Pool Collections for such Payment Date and apply such amounts, together with the proceeds of the sale or liquidation of any portion of the Collateral included in the 2017-3 Designated Pool pursuant to Section 6.4(a)(ii)(z) of the Credit and Security Agreement, in accordance with the following priorities:

Modified Priorities Following Liquidation. Notwithstanding Section 5.1, on each Payment Date following the acceleration of the 20172015-3 2 Exchange Note following an Exchange Note Default, the Indenture Trustee will, with respect to the 20172015-3 2 Designated Pool (based on the information contained in the Servicer Report Servicer’s Certificate delivered with respect to such Payment Date), withdraw from the 20172015-3 2 Exchange Note Collections Account Collection Accounts an amount equal to the 20172015-3 2 Designated Pool Collections for such Payment Date and apply such amounts, together with the proceeds of the sale or liquidation of any portion of the Collateral included in the 20172015-3 2 Designated Pool pursuant to Section 6.4(a)(ii)(z) of the Credit and Security Agreement, in accordance with the following priorities:

Modified Priorities Following Liquidation. Notwithstanding Section 5.1, on each Payment Date following the acceleration of the 2017-3 2 Exchange Note following an Exchange Note Default, the Indenture Trustee will, with respect to the 2017-3 2 Designated Pool (based on the information contained in the Servicer Report delivered with respect to such Payment Date), withdraw from the 2017-3 2 Exchange Note Collections Account an amount equal to the 2017-3 2 Designated Pool Collections for such Payment Date and apply such amounts, together with the proceeds of the sale or liquidation of any portion of the Collateral included in the 2017-3 2 Designated Pool pursuant to Section 6.4(a)(ii)(z) of the Credit and Security Agreement, in accordance with the following priorities:

Modified Priorities Following Liquidation. Notwithstanding Section 5.1, on each Payment Date following the acceleration of the 20172018-3 1 Exchange Note following an Exchange Note Default, the Indenture Trustee will, with respect to the 20172018-3 1 Designated Pool (based on the information contained in the Servicer Report delivered with respect to such Payment Date), withdraw from the 20172018-3 1 Exchange Note Collections Account an amount equal to the 20172018-3 1 Designated Pool Collections for such Payment Date and apply such amounts, together with the proceeds of the sale or liquidation of any portion of the Collateral included in the 20172018-3 1 Designated Pool pursuant to Section 6.4(a)(ii)(z) of the Credit and Security Agreement, in accordance with the following priorities:

Modified Priorities Following Liquidation. Notwithstanding Section 5.1, on each Payment Date following the acceleration of the 20172019-3 Exchange Note following an Exchange Note Default, the Indenture Trustee will, with respect to the 20172019-3 Designated Pool (based on the information contained in the Servicer Report delivered with respect to such Payment Date), withdraw from the 20172019-3 Exchange Note Collections Account an amount equal to the 20172019-3 Designated Pool Collections for such Payment Date and apply such amounts, together with the proceeds of the sale or liquidation of any portion of the Collateral included in the 20172019-3 Designated Pool pursuant to Section 6.4(a)(ii)(z) of the Credit and Security Agreement, in accordance with the following priorities:

Modified Priorities Following Liquidation. Notwithstanding Section 5.1, on each Payment Date following the acceleration of the 20172021-3 2 Exchange Note following an Exchange Note Default, the Indenture Trustee will, with respect to the 20172021-3 2 Designated Pool (based on the information contained in the Servicer Report delivered with respect to such Payment Date), withdraw from the 20172021-3 2 Exchange Note Collections Account an amount equal to the 20172021-3 2 Designated Pool Collections for such Payment Date and apply such amounts, together with the proceeds of the sale or liquidation of any portion of the Collateral included in the 20172021-3 2 Designated Pool pursuant to Section 6.4(a)(ii)(z) of the Credit and Security Agreement, in accordance with the following priorities:

Modified Priorities Following Liquidation. Notwithstanding Section 5.1, on each Payment Date following the acceleration of the 20172021-3 1 Exchange Note following an Exchange Note Default, the Indenture Trustee will, with respect to the 20172021-3 1 Designated Pool (based on the information contained in the Servicer Report delivered with respect to such Payment Date), withdraw from the 20172021-3 1 Exchange Note Collections Account an amount equal to the 20172021-3 1 Designated Pool Collections for such Payment Date and apply such amounts, together with the proceeds of the sale or liquidation of any portion of the Collateral included in the 20172021-3 1 Designated Pool pursuant to Section 6.4(a)(ii)(z) of the Credit and Security Agreement, in accordance with the following priorities:

Modified Priorities Following Liquidation. Notwithstanding Section 5.1, on each Payment Date following the acceleration of the 20172023-3 Exchange Note following an Exchange Note Default, the Indenture Trustee will, with respect to the 20172023-3 Designated Pool (based on the information contained in the Servicer Report delivered with respect to such Payment Date), withdraw from the 20172023-3 Exchange Note Collections Account an amount equal to the 20172023-3 Designated Pool Collections for such Payment Date and apply such amounts, together with the proceeds of the sale or liquidation of any portion of the Collateral included in the 20172023-3 Designated Pool pursuant to Section 6.4(a)(ii)(z) of the Credit and Security Agreement, in accordance with the following priorities:

Modified Priorities Following Liquidation. Notwithstanding Section 5.1, on each Payment Date following the acceleration of the 20172020-3 2 Exchange Note following an Exchange Note Default, the Indenture Trustee will, with respect to the 20172020-3 2 Designated Pool (based on the information contained in the Servicer Report delivered with respect to such Payment Date), withdraw from the 20172020-3 2 Exchange Note Collections Account an amount equal to the 20172020-3 2 Designated Pool Collections for such Payment Date and apply such amounts, together with the proceeds of the sale or liquidation of any portion of the Collateral included in the 20172020-3 2 Designated Pool pursuant to Section 6.4(a)(ii)(z) of the Credit and Security Agreement, in accordance with the following priorities:

Modified Priorities Following Liquidation. Notwithstanding Section 5.1, on each Payment Date following the acceleration of the 20172020-3 1 Exchange Note following an Exchange Note Default, the Indenture Trustee will, with respect to the 20172020-3 1 Designated Pool (based on the information contained in the Servicer Report delivered with respect to such Payment Date), withdraw from the 20172020-3 1 Exchange Note Collections Account an amount equal to the 20172020-3 1 Designated Pool Collections for such Payment Date and apply such amounts, together with the proceeds of the sale or liquidation of any portion of the Collateral included in the 20172020-3 1 Designated Pool pursuant to Section 6.4(a)(ii)(z) of the Credit and Security Agreement, in accordance with the following priorities:

Modified Priorities Following Liquidation. Notwithstanding Section 5.1, on each Payment Date following the acceleration of the 20172020-3 Exchange Note following an Exchange Note Default, the Indenture Trustee will, with respect to the 20172020-3 Designated Pool (based on the information contained in the Servicer Report delivered with respect to such Payment Date), withdraw from the 20172020-3 Exchange Note Collections Account an amount equal to the 20172020-3 Designated Pool Collections for such Payment Date and apply such amounts, together with the proceeds of the sale or liquidation of any portion of the Collateral included in the 20172020-3 Designated Pool pursuant to Section 6.4(a)(ii)(z) of the Credit and Security Agreement, in accordance with the following priorities:

Modified Priorities Following Liquidation. Notwithstanding Section 5.1, on each Payment Date following the acceleration of the 20172016-3 2 Exchange Note following an Exchange Note Default, the Indenture Trustee will, with respect to the 20172016-3 2 Designated Pool (based on the information contained in the Servicer Report delivered with respect to such Payment Date), withdraw from the 20172016-3 2 Exchange Note Collections Account Accounts an amount equal to the 20172016-3 2 Designated Pool Collections for such Payment Date and apply such amounts, together with the proceeds of the sale or liquidation of any portion of the Collateral included in the 20172016-3 2 Designated Pool pursuant to Section 6.4(a)(ii)(z) of the Credit and Security Agreement, in accordance with the following priorities:

Modified Priorities Following Liquidation. Notwithstanding Section 5.1, on each Payment Date following the acceleration of the 20172019-3 1 Exchange Note following an Exchange Note Default, the Indenture Trustee will, with respect to the 20172019-3 1 Designated Pool (based on the information contained in the Servicer Report delivered with respect to such Payment Date), withdraw from the 20172019-3 1 Exchange Note Collections Account an amount equal to the 20172019-3 1 Designated Pool Collections for such Payment Date and apply such amounts, together with the proceeds of the sale or liquidation of any portion of the Collateral included in the 20172019-3 1 Designated Pool pursuant to Section 6.4(a)(ii)(z) of the Credit and Security Agreement, in accordance with the following priorities:

Modified Priorities Following Liquidation. Notwithstanding Section 5.1, on each Payment Date following the acceleration of the 20172023-3 2 Exchange Note following an Exchange Note Default, the Indenture Trustee will, with respect to the 20172023-3 2 Designated Pool (based on the information contained in the Servicer Report delivered with respect to such Payment Date), withdraw from the 20172023-3 2 Exchange Note Collections Account an amount equal to the 20172023-3 2 Designated Pool Collections for such Payment Date and apply such amounts, together with the proceeds of the sale or liquidation of any portion of the Collateral included in the 20172023-3 2 Designated Pool pursuant to Section 6.4(a)(ii)(z) of the Credit and Security Agreement, in accordance with the following priorities:

Modified Priorities Following Liquidation. Notwithstanding Section 5.1, on each Payment Date following the acceleration of the 20172024-3 1 Exchange Note following an Exchange Note Default, the Indenture Trustee will, with respect to the 20172024-3 1 Designated Pool (based on the information contained in the Servicer Report delivered with respect to such Payment Date), withdraw from the 20172024-3 1 Exchange Note Collections Account an amount equal to the 20172024-3 1 Designated Pool Collections for such Payment Date and apply such amounts, together with the proceeds of the sale or liquidation of any portion of the Collateral included in the 20172024-3 1 Designated Pool pursuant to Section 6.4(a)(ii)(z) of the Credit and Security Agreement, in accordance with the following priorities:

Modified Priorities Following Liquidation. Notwithstanding Section 5.1, on each Payment Date following the acceleration of the 20172018-3 2 Exchange Note following an Exchange Note Default, the Indenture Trustee will, with respect to the 20172018-3 2 Designated Pool (based on the information contained in the Servicer Report delivered with respect to such Payment Date), withdraw from the 20172018-3 2 Exchange Note Collections Account an amount equal to the 20172018-3 2 Designated Pool Collections for such Payment Date and apply such amounts, together with the proceeds of the sale or liquidation of any portion of the Collateral included in the 20172018-3 2 Designated Pool pursuant to Section 6.4(a)(ii)(z) of the Credit and Security Agreement, in accordance with the following priorities:

Modified Priorities Following Liquidation. Notwithstanding Section 5.1, on each Payment Date following the acceleration of the 20172022-3 2 Exchange Note following an Exchange Note Default, the Indenture Trustee will, with respect to the 20172022-3 2 Designated Pool (based on the information contained in the Servicer Report delivered with respect to such Payment Date), withdraw from the 20172022-3 2 Exchange Note Collections Account an amount equal to the 20172022-3 2 Designated Pool Collections for such Payment Date and apply such amounts, together with the proceeds of the sale or liquidation of any portion of the Collateral included in the 20172022-3 2 Designated Pool pursuant to Section 6.4(a)(ii)(z) of the Credit and Security Agreement, in accordance with the following priorities:

Modified Priorities Following Liquidation. Notwithstanding Section 5.1, on each Payment Date following the acceleration of the 20172021-3 Exchange Note following an Exchange Note Default, the Indenture Trustee will, with respect to the 20172021-3 Designated Pool (based on the information contained in the Servicer Report delivered with respect to such Payment Date), withdraw from the 20172021-3 Exchange Note Collections Account an amount equal to the 20172021-3 Designated Pool Collections for such Payment Date and apply such amounts, together with the proceeds of the sale or liquidation of any portion of the Collateral included in the 20172021-3 Designated Pool pursuant to Section 6.4(a)(ii)(z) of the Credit and Security Agreement, in accordance with the following priorities:

Modified Priorities Following Liquidation. Notwithstanding Section 5.1, on each Payment Date following the acceleration of the 20172023-3 1 Exchange Note following an Exchange Note Default, the Indenture Trustee will, with respect to the 20172023-3 1 Designated Pool (based on the information contained in the Servicer Report delivered with respect to such Payment Date), withdraw from the 20172023-3 1 Exchange Note Collections Account an amount equal to the 20172023-3 1 Designated Pool Collections for such Payment Date and apply such amounts, together with the proceeds of the sale or liquidation of any portion of the Collateral included in the 20172023-3 1 Designated Pool pursuant to Section 6.4(a)(ii)(z) of the Credit and Security Agreement, in accordance with the following priorities:

Modified Priorities Following Liquidation. Notwithstanding Section 5.1, on each Payment Date following the acceleration of the 20172018-3 Exchange Note following an Exchange Note Default, the Indenture Trustee will, with respect to the 20172018-3 Designated Pool (based on the information contained in the Servicer Report delivered with respect to such Payment Date), withdraw from the 20172018-3 Exchange Note Collections Account an amount equal to the 20172018-3 Designated Pool Collections for such Payment Date and apply such amounts, together with the proceeds of the sale or liquidation of any portion of the Collateral included in the 20172018-3 Designated Pool pursuant to Section 6.4(a)(ii)(z) of the Credit and Security Agreement, in accordance with the following priorities:

Modified Priorities Following Liquidation. Notwithstanding Section 5.1, on each Payment Date following the acceleration of the 20172019-3 2 Exchange Note following an Exchange Note Default, the Indenture Trustee will, with respect to the 20172019-3 2 Designated Pool (based on the information contained in the Servicer Report delivered with respect to such Payment Date), withdraw from the 20172019-3 2 Exchange Note Collections Account an amount equal to the 20172019-3 2 Designated Pool Collections for such Payment Date and apply such amounts, together with the proceeds of the sale or liquidation of any portion of the Collateral included in the 20172019-3 2 Designated Pool pursuant to Section 6.4(a)(ii)(z) of the Credit and Security Agreement, in accordance with the following priorities:

Modified Priorities Following Liquidation. Notwithstanding Section 5.1, on each Payment Date following the acceleration of the 2017-3 1 Exchange Note following an Exchange Note Default, the Indenture Trustee will, with respect to the 2017-3 1 Designated Pool (based on the information contained in the Servicer Report delivered with respect to such Payment Date), withdraw from the 2017-3 1 Exchange Note Collections Account an amount equal to the 2017-3 1 Designated Pool Collections for such Payment Date and apply such amounts, together with the proceeds of the sale or liquidation of any portion of the Collateral included in the 2017-3 1 Designated Pool pursuant to Section 6.4(a)(ii)(z) of the Credit and Security Agreement, in accordance with the following priorities:

Modified Priorities Following Liquidation. Notwithstanding Section 5.1, on each Payment Date following the acceleration of the 20172015-3 1 Exchange Note following an Exchange Note Default, the Indenture Trustee will, with respect to the 20172015-3 1 Designated Pool (based on the information contained in the Servicer Report Servicer’s Certificate delivered with respect to such Payment Date), withdraw from the 20172015-3 1 Exchange Note Collections Account Collection Accounts an amount equal to the 20172015-3 1 Designated Pool Collections for such Payment Date and apply such amounts, together with the proceeds of the sale or liquidation of any portion of the Collateral included in the 20172015-3 1 Designated Pool pursuant to Section 6.4(a)(ii)(z) of the Credit and Security Agreement, in accordance with the following priorities:

Modified Priorities Following Liquidation. Notwithstanding Section 5.1, on each Payment Date following the acceleration of the 20172016-3 1 Exchange Note following an Exchange Note Default, the Indenture Trustee will, with respect to the 20172016-3 1 Designated Pool (based on the information contained in the Servicer Report delivered with respect to such Payment Date), withdraw from the 20172016-3 1 Exchange Note Collections Account Accounts an amount equal to the 20172016-3 1 Designated Pool Collections for such Payment Date and apply such amounts, together with the proceeds of the sale or liquidation of any portion of the Collateral included in the 20172016-3 1 Designated Pool pursuant to Section 6.4(a)(ii)(z) of the Credit and Security Agreement, in accordance with the following priorities:

Modified Priorities Following Liquidation. Notwithstanding Section 5.1, on each Payment Date following the acceleration of the 20172015-3 Exchange Note following an Exchange Note Default, the Indenture Trustee will, with respect to the 20172015-3 Designated Pool (based on the information contained in the Servicer Report delivered with respect to such Payment Date), withdraw from the 20172015-3 Exchange Note Collections Account Collection Accounts an amount equal to the 20172015-3 Designated Pool Collections for such Payment Date and apply such amounts, together with the proceeds of the sale or liquidation of any portion of the Collateral included in the 20172015-3 Designated Pool pursuant to Section 6.4(a)(ii)(z) of the Credit and Security Agreement, in accordance with the following priorities:

Modified Priorities Following Liquidation. Notwithstanding Section 5.1, on each Payment Date following the acceleration of the 20172016-3 Exchange Note following an Exchange Note Default, the Indenture Trustee will, with respect to the 20172016-3 Designated Pool (based on the information contained in the Servicer Report delivered with respect to such Payment Date), withdraw from the 20172016-3 Exchange Note Collections Account Accounts an amount equal to the 20172016-3 Designated Pool Collections for such Payment Date and apply such amounts, together with the proceeds of the sale or liquidation of any portion of the Collateral included in the 20172016-3 Designated Pool pursuant to Section 6.4(a)(ii)(z) of the Credit and Security Agreement, in accordance with the following priorities:

Modified Priorities Following Liquidation. Notwithstanding Section 5.1, on each Payment Date following the acceleration of the 20172022-3 Exchange Note following an Exchange Note Default, the Indenture Trustee will, with respect to the 20172022-3 Designated Pool (based on the information contained in the Servicer Report delivered with respect to such Payment Date), withdraw from the 20172022-3 Exchange Note Collections Account an amount equal to the 20172022-3 Designated Pool Collections for such Payment Date and apply such amounts, together with the proceeds of the sale or liquidation of any portion of the Collateral included in the 20172022-3 Designated Pool pursuant to Section 6.4(a)(ii)(z) of the Credit and Security Agreement, in accordance with the following priorities:

Modified Priorities Following Liquidation. Notwithstanding Section 5.1, on each Payment Date following the acceleration of the 20172022-3 1 Exchange Note following an Exchange Note Default, the Indenture Trustee will, with respect to the 20172022-3 1 Designated Pool (based on the information contained in the Servicer Report delivered with respect to such Payment Date), withdraw from the 20172022-3 1 Exchange Note Collections Account an amount equal to the 20172022-3 1 Designated Pool Collections for such Payment Date and apply such amounts, together with the proceeds of the sale or liquidation of any portion of the Collateral included in the 20172022-3 1 Designated Pool pursuant to Section 6.4(a)(ii)(z) of the Credit and Security Agreement, in accordance with the following priorities: