Shared Collections Sample Clauses

Shared Collections. Shared Collections and Other Series Shared Collections for any Payment Date shall be allocated, as directed by the Servicer in the Servicing Report, to the Notes in an amount equal to the product of (i) the aggregate amount of Shared Collections and Other Series Shared Collections for such Payment Date and (ii) a fraction the numerator of which is the Shortfall Amount for such Payment Date and the denominator of which is the aggregate amount of the Shortfall Amount for the Notes and the Other Series Shortfall Amounts for such Payment Date. Shared Collections and Other Series Shared Collections for any Payment Date shall be allocated, as directed by the Servicer in the Servicing Report, to each Other Series in an amount equal to the product of (i) the aggregate amount of Shared Collections and Other Series Shared Collections for such Payment Date and (ii) a fraction the numerator of which is the Other Series Shortfall Amount for such Other Series for such Payment Date and the denominator of which is the aggregate amount of the Shortfall Amount for the Notes and the Other Series Shortfall Amounts for such Payment Date. Any Other Series Shared Collections allocated to the Notes and received by the Trustee shall be deposited in the Collection Account. Section 6.01 is hereby amended by adding the text “or, if and so long as IOS Capital is the Servicer, the long-term debt rating assigned by M▇▇▇▇’▇ or S&P to IOS Capital is Ba2 or below or BB or below, respectively” immediately after the text “If a Servicer Event of Default has occurred and is continuing” and prior to the comma.

Shared Collections. (a) On each Distribution Date, (i) the Servicer shall allocate Shared Principal Collections to each Principal Sharing Series, pro rata, in proportion to the Principal Shortfalls, if any, with respect to each such Series and (ii) the Servicer shall withdraw from the Collection Account and pay to the Holders of the Transferor Certificates an amount equal to the excess, if any, of (x) the aggregate amount for all outstanding Series of Collections of Principal Receivables which the related Supplements or this Agreement specify are to be treated as "Shared Principal Collections" for such Distribution Date over (y) the aggregate amount for all outstanding Principal Sharing Series which the related Supplements specify are "Principal Shortfalls" for such Distribution Date; PROVIDED, HOWEVER, that if, on any Distribution Date the Transferor Amount is less than or equal to the Required Transferor Amount or if an amount equal to the product of (i) the aggregate amount of Principal Receivables and (ii) one minus the Discount Percentage is less than the Required Principal Balance, the Servicer will not distribute to the Holders of the Transferor Certificates any Shared Principal Collections that otherwise would be distributed to the Holders of the Transferor Certificates but shall deposit such funds in the Excess Funding Account. (b) On each Distribution Date, (i) the Servicer shall allocate Excess Finance Charge Collections (as described below) to each Excess Allocation Series pro rata, in proportion to the Finance Charge Shortfalls (as described below), if any, with respect to each such Series and (ii) the Servicer shall withdraw from the Collection Account and pay to the Holders of the Transferor Certificates an amount equal to the excess, if any, of (x) the aggregate amount for all outstanding Series of Collections of Finance Charge Receivables which the related Supplements specify are to be treated as "Excess Finance Charge Collections" for such Distribution Date over (y) the aggregate amount for all outstanding Series which the related Supplements specify are "Finance Charge Shortfalls" for such Series and such Distribution Date; PROVIDED, HOWEVER, that the sharing of Excess Finance Charge Collections among Series will continue only until such time, if any, at which the Transferror shall deliver to the Trustee an Officer's Certificate to the effect that, in the reasonable belief the Transferor the continued sharing of Excess Finance Charge Collections among Serie...

Shared Collections. Shared Collections and Other Series Shared Collections for any Payment Date shall be allocated as directed by the Servicer in the Servicer Report to the Notes in an amount equal to the product of (i) the aggregate amount of Shared Collections and Other Series Shared Collections for such Payment Date and (ii) a fraction, the numerator of which is the Shortfall Amount for such Payment Date, and the denominator of which is the aggregate amount of the Shortfall Amount for the Notes and the Other Series Shortfall Amounts for such Payment Date. Shared Collections and Other Series Shared Collections for any Payment Date shall be allocated as directed by the Servicer in the Servicer Report or, if the Servicer fails to so direct (and so long as no Insurer Default has occurred and is continuing), by the Insurer to each Other Series in an amount equal to the product of (i) the aggregate amount of Shared Collections and Other Series Shared Collections for such Payment Date and (ii) a fraction, the numerator of which is the Other Series Shortfall Amount for such Other Series for such Payment Date, and the denominator of which is the aggregate amount of the Shortfall Amount for the Notes and the Other Series Shortfall Amounts for such Payment Date. Any Other Series Shared Collections allocated to the Notes and received by the Trustee ("Allocated Other Series Shared Collections") shall be deposited in the Collection Account as Available Funds.

Shared Collections. If, at any time, and in the manner described in the related Series Supplement, Collections allocated to Principal Loan Receivables that are allocated to such Series are not needed to make payments to the Secured Parties of such Series or required to be deposited in a Payment Account for such Series but are available to be paid to the Issuer, such Collections may be applied to cover payments due to or for the benefit of the Secured Parties of another Series (“Shared Collections”), unless at such time an OC Loan Facility is outstanding that has not been paid in full. The Master Trust Administrator shall inform the Trustee, the Servicer and the Noteholders that Shared Collections are no longer available if payment obligations become due and payable under an OC Loan Facility that has been entered into by BCC with an OC Lender (“Shared Collection Suspension Event”). Following such notification of the occurrence of a Shared Collection Suspension Event Shared Collections shall no longer be available for allocation to any Series effective for the next Settlement Period following the receipt of such written notice of the Master Trust Administrator and for each Settlement Period thereafter; provided, that the Servicer shall have received such notice at least five (5) Business Days prior to the first day of such Settlement Period, and otherwise for the next following Settlement Period. The suspension of Shared Collections shall be reflected in the Servicer’s Certificate. The Master Trust Administrator shall inform the Trustee, the Servicer and the Noteholders in writing within two (2) Business Days after all payment obligations under an OC Loan Facility have been fully paid and the date paid in full. In such notice the Master Trust Administrator shall specify if other OC Loan Facilities are still outstanding or if all OC Loan Facilities have been paid in full. Upon receipt of a written notice from the Master Trust Administrator pursuant to which all outstanding OC Facilities have been paid in full as of the final pay-off date in such notice (“Shared Collection Reinstatement Event”), Shared Collections shall be available again for allocation effective for the Settlement Period in which the Master Trust Administrator notifies the Trustee and the Servicer of such Shared Collection Reinstatement Event. The Shared Collection Reinstatement Event shall be reflected in the Servicer’s Certificate. Any such reallocation of Shared Collections will not result in a reduction in t...

Shared Collections. Commencing on the date hereof, General Electric Capital Corporation, a Delaware corporation (“GE Capital”), shall have no further obligations to the Seller pursuant to Section 5.30 of the Asset Purchase Agreement, dated as of December 10, 2003 (as amended) by and among GE Capital, Seller and IOS Capital, LLC, a Delaware limited liability company. ARTICLE VI [INTENTIONALLY OMITTED] ARTICLE VII [INTENTIONALLY OMITTED]

Shared Collections. The Purchaser shall reimburse the Seller for amounts that the Seller did not receive pursuant to the Non-Purchased Securitization Documents because they were applied to obligations under the Securitization Documents, and the Seller shall reimburse the Purchaser for amounts that the Purchaser or an ABS Entity did not receive pursuant to the Securitization Documents because they were applied to obligations under the Non-Purchased Securitization Documents, in each case as the result of the shared collections provisions of the related documents.

Shared Collections. Series 2017-VFN shall be a Sharing Series. Shared Collections with respect to all the Sharing Series in Group I for any Payment Date will be allocated to Series 2017-VFN (the “Series 2017-VFN Shared Collections”) in an amount equal to the product of (x) the aggregate amount of Shared Collections with respect to all the Sharing Series in Group I for such Payment Date and (y) a fraction, the numerator of which is the Collections Shortfall for Series 2017-VFN for such Payment Date and the denominator of which is the aggregate amount of Collections Shortfalls for all the Sharing Series in Group I for such Payment Date. On each Payment Date, the Servicer shall determine the amount of the Collections Shortfall for Series 2017-VFN for the related Payment Date, and shall direct the paying agent to withdraw an amount equal to the Series 2017-VFN Shared Collections from the Collection Account and/or the Series Accounts for the other Sharing Series in Group I, and deposit such amount into the Series 2017-VFN Series Account for distribution pursuant to Section 4.2 on the related Payment Date.