Rights of Holders and Allocation and Application of Collections. THE FOLLOWING PORTION OF THIS ARTICLE III IS APPLICABLE TO ALL SERIES.
Rights of Holders and Allocation and Application of Collections. SECTION 4.6 Rights of Holders 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 applicable Investor Percentage 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 to the extent described herein. The Class B Certificates shall be subordinate to the Class A Certificates to the extent described herein. Transferor shall not have 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 Holders and Allocation and Application of Collections. SECTION 4.1 Rights of Holders. Each Series of Investor Certificates shall represent Undivided Interests in the Trust, including the benefits of any Credit Enhancement issued with respect to such Series and the right to receive the Collections and other amounts at the times and in the amounts specified in this Article IV to be deposited in the Investor Accounts and any other Series Account (if so specified in the related Supplement) or to be paid to the Investor Holders of such Series. The aggregate interest represented by such Certificates in the Principal Receivables at any time shall not exceed an amount equal to the Aggregate Investor Interest at such time. Transferor shall own the remaining undivided interest in the Trust, including the right to receive the Collections and other amounts at the times and in the amounts specified in this Article IV to be paid on account of the Transferor Interest. Transferor's aggregate interest in the Principal Receivables at any time shall not exceed the Transferor Interest at such time and Transferor shall not have any interest in the Investor Accounts, except as provided in this Agreement, or the benefits of any Credit Enhancement issued with respect to any Series. If this Agreement is deemed to constitute a grant to Trustee, for the benefit of the Investor Holders, of a security interest in the Receivables and other Trust Assets, then the Transferor Interest shall be deemed to represent Transferor's equity in the collateral granted.
Rights of Holders and Allocation and Application of Collections. 47 SECTION 4.1
Rights of Holders and Allocation and Application of Collections. SECTION 4.1 Rights of Holders. Each Series of Investor Certificates shall represent Undivided Interests in the Trust, including the benefits of any Credit Enhancement issued with respect to such Series and the right to receive the Collections and other amounts at the times and in the amounts specified in this Article IV to be deposited in the Investor Accounts and any other Series Account (if so specified in the related Supplement) or to be paid to the Investor Holders of such Series. The aggregate interest represented by such Certificates in the Principal Receivables at any time shall not exceed an amount equal to the Investor Interest at such time. The Transferor Certificate shall represent the remaining undivided interest in the Trust, including the right to receive the Collections and other amounts at the times and in the amounts specified in this Article IV to be paid to the Holder of the Transferor Certificate. The aggregate interest represented by the Transferor Certificate in the Principal Receivables at any time shall not exceed the Transferor Interest at such time and such Certificate shall not represent any interest in the Investor Accounts, except as provided in this Agreement, or the benefits of any Credit Enhancement issued with respect to any Series. If this Agreement is deemed to constitute a grant to Trustee, for the benefit of the Investor Holders, of a security interest in the Receivables and other Trust Assets, then the Transferor Certificate shall be deemed to represent Transferor's equity in the collateral granted. SECTION 4.2
Rights of Holders and Allocation and Application of Collections. SECTION 4.1. Rights of Holders. Each Series of Investor Certificates shall represent Undivided Interests in the Trust, including the benefits of any Credit Enhancement issued with respect to such Series and the right to receive the Collections and other amounts at the times and in the amounts specified in this Article IV to be deposited in the Investor Accounts and any other Series Account (if so specified in the related Supplement) or to be paid to the Investor Holders of such Series. The aggregate interest represented by such Certificates in the Principal Receivables at any time shall not exceed an amount equal to the Investor Interest at such time. Transferor shall own the remaining undivided interest in the Trust, including the right to receive the Collections and other amounts at the times and in the amounts specified in this Article IV to be paid on account of the Transferor Interest. Transferor' s aggregate interest in the Principal Receivables at any time shall not exceed the Transferor Interest at such time and Transferor shall not have any interest in the Investor Accounts, except as provided in this Agreement, or the benefits of any Credit Enhancement issued with respect to any Series.
Rights of Holders and Allocation and Application of Collections. SECTION 4.6 Rights of Holders 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 (and subject to reallocation as provided herein), (a) the applicable Investor Percentage of Collections received with respect to the Receivables and (b) funds on deposit in the Collection Account, the Finance Charge Account, the
Rights of Holders and Allocation and Application of Collections. Section 3.1 Establishment of Collection Account and Collection Concentration Account; Certain Allocations . . . . . . 35
Rights of Holders and Allocation and Application of Collections. THE FOLLOWING PORTION OF THIS ARTICLE III IS APPLICABLE TO ALL SERIES EXCEPT TO THE EXTENT EXPRESSLY PROVIDED OTHERWISE IN THE SUPPLEMENT RELATING TO SERIES 1998-1
Rights of Holders and Allocation and Application of Collections
