Common use of Shared Collections Clause in Contracts

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. 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.