Common use of Prepaid Asset Clause in Contracts

Prepaid Asset. Prior to a Termination Event, upon any Asset becoming a Prepaid Asset, the Servicer shall either (x) provide a Substitute Asset in accordance with Section 2.18 or (y) deposit to the Collection Account (in addition to all amounts received from the related Obligor upon the prepayment of such Asset) an amount equal to the excess, if any, of the sum of (a) the Outstanding Asset Balance on the date of such payment, (b) any outstanding Servicer Advances thereon, (c) any accrued and unpaid interest, and (d) all Hedge Breakage Costs owing to the relevant Hedge Counterparty for any termination of one or more Hedge Transactions, in whole or in part, as required by the terms of any Hedging Agreement as the result of any such Asset becoming a Prepaid Asset, over the amount received from the related Obligor upon such prepayment (such excess, the “Prepayment Amount”), in each case, only to the extent necessary to cause the Availability as of such date (after giving effect to such substitution or deposit, as applicable) to be greater than or equal to zero. After a Termination Event has occurred, upon any Asset becoming a Prepaid Asset, the Servicer shall deposit to the Collection Account all amounts received from the related Obligor upon the prepayment of such Asset plus the Prepayment Amount, if any.

Prepaid Asset. Prior to a Termination Event, upon any Asset becoming a Prepaid Asset, the Servicer shall either (x) provide a Substitute Asset in accordance with Section 2.18 or (y) deposit to the Collection Account (in addition to all amounts received from the related Obligor upon the prepayment of such Asset) an amount equal to the excess, if any, of the sum of (a) the Outstanding Asset Balance on the date of such payment, (b) any outstanding Servicer Advances thereon, (c) any accrued and unpaid interest, and (d) all Hedge Breakage Costs owing to the relevant Hedge Counterparty for any termination of one or more Hedge Transactions, in whole or in part, as required by the terms of any Hedging Agreement as the result of any such Asset becoming a Prepaid Asset, over the amount received from the related Obligor upon such prepayment (such excess, the “Prepayment Amount”), in each case, only to the extent necessary to cause the Availability as of such date (after giving effect to such substitution or deposit, as applicable) to be greater than or equal to zero. After a Termination Event has occurred, upon any Asset becoming a Prepaid Asset, the Servicer shall deposit to the Collection Account all 109 amounts received from the related Obligor upon the prepayment of such Asset plus the Prepayment Amount, if any.

Prepaid Asset. Prior to a Termination Event, upon any Asset becoming a Prepaid Asset, the Servicer shall either (x) provide a Substitute Asset in accordance with Section 2.18 or (y) deposit to the Collection Account (in addition to all amounts received from the related Obligor upon the prepayment of such Asset) an amount equal to the excess, if any, of the sum of (a) the Outstanding Asset Balance on the date of such payment, (b) any outstanding Servicer Advances thereon, (c) any accrued and unpaid interest, and (d) all Hedge Breakage Costs owing to the relevant Hedge Counterparty for any termination of one or more Hedge Transactions, in whole or in part, as required by the terms of any Hedging Agreement as the result of any such Asset becoming a Prepaid Asset, over the amount received from the related Obligor upon such prepayment (such excess, the “Prepayment Amount”), in each case, only to the extent necessary to cause the Availability as of such date (after giving effect to such substitution or deposit, as applicable) to be greater than or equal to zero. After a Termination Event has occurred, upon any Asset becoming a Prepaid Asset, the Servicer shall deposit to the Collection Account all amounts received from the related Obligor upon the prepayment of such Asset plus the Prepayment Amount, if any.. 103

Prepaid Asset. Prior to a Termination Event, upon any Asset becoming a Prepaid Asset, the Servicer shall either (x) provide a Substitute Asset in accordance with Section 2.18 or (y) deposit to the Collection Account (in addition to all amounts received from the related Obligor upon the prepayment of such Asset) an amount equal to the excess, if any, of the sum of (a) the Outstanding Asset Balance on the date of such payment, (b) any outstanding Servicer Advances thereon, (c) any accrued and unpaid interest, and (d) all Hedge Breakage Costs owing to the relevant Hedge Counterparty for any termination of one or more Hedge Transactions, in whole or in part, as required by the terms of any Hedging Agreement as the result of any such Asset becoming a Prepaid Asset, over the amount received from the related Obligor upon such prepayment (such excess, the “Prepayment Amount”), in each case, only to the extent necessary to cause the Availability as of such date (after giving effect to such substitution or deposit, as applicable) to be greater than or equal to zero. After a Termination Event has occurred, upon any Asset becoming a Prepaid Asset, the Servicer shall deposit to the Collection Account all amounts received from the related Obligor upon the prepayment of such Asset plus the Prepayment Amount, if any.. 112