Common use of Rights of Certificateholders and Allocation and Application of Collections Clause in Contracts

Rights of Certificateholders and Allocation and Application of Collections. Rights of Certificateholders and the Collateral Interest Holder. The Investor Certificates shall represent undivided interests in the Trust, consisting of the right to receive, to the extent necessary to make the required payments with respect to such Investor Certificates at the times and in the amounts specified in this Agreement, (a) the Floating Investor Percentage and Fixed Investor Percentage (as applicable from time to time) of Collections received with respect to the Receivables and (b) funds on deposit in the Collection Account, the Finance Charge Account, the Principal Account, the Principal Funding Account, the Reserve Account and the Distribution Account. The Collateral Interest shall be subordinate to the Class A Certificates and the Class B Certificates. The Class B Certificates shall be subordinate to the Class A Certificates. The Seller Certificate shall not represent any interest in the Collection Account, the Finance Charge Account, the Principal Account, the Principal Funding Account, the Reserve Account or the Distribution Account, except as specifically provided in this Article IV.

Rights of Certificateholders and Allocation and Application of Collections. Rights of Certificateholders and the Collateral Interest HolderSECTION 4.4 RIGHTS OF CERTIFICATEHOLDERS. The Investor Certificates shall represent undivided interests in the Trust, consisting of the right to receive, to the extent necessary to make the required payments with respect to such Investor Certificates at the times and in the amounts specified in this Agreement, (a) the Floating Investor Allocation Percentage and Fixed Investor Allocation Percentage (as applicable from time to time) of Collections received with respect to the Receivables and (b) funds on deposit in the Collection Account, the Finance Charge Excess Funding Account, the Principal Interest Funding Account, the Principal Funding Account, the Reserve Account and the Distribution Overconcentration Account. The Collateral Investor Interest shall be subordinate to the Class A Certificates and the Class B Certificates. The Class B Certificates shall be subordinate subordi- nate to the Class A Certificates. The Seller Exchangeable Transferor Certificate shall not represent any interest in the Collection Account, the Finance Charge Excess Funding Account, the Principal Interest Funding Account, the Principal Funding Account, the Reserve Account or the Distribution Overconcentration Account, except as specifically provided in this Article IV.