Common use of Monthly Distributions Clause in Contracts

Monthly Distributions. Subject to subsection (b) and (c) of this Section, on each Settlement Date, based on the Servicer’s Monthly Settlement Certificate, the Paying Agent shall make the following distributions (without duplication) in the following order of priority (such order of priority, as may be modified by subsection (c) of this Section following an Event of Default, the “Priority of Payments”) to the extent of Available Funds on deposit in the Collection Account (and, if there are insufficient Available Funds to make any distribution under any particular clause in full, pro rata to each Person entitled to a distribution pursuant to such clause, as determined based on the maximum amount that could be distributable to each such Person under such clause):

Monthly Distributions. Subject to subsection (b) and (c) of this Section, on each Settlement Date, based on the Servicer’s Monthly Settlement Certificate, the Paying Agent shall make the following distributions (without duplication) in the following order of priority (such order of priority, as 39 may be modified by subsection (c) of this Section following an Event of Default, the “Priority of Payments”) to the extent of Available Funds on deposit in the Collection Account (and, if there are insufficient Available Funds to make any distribution under any particular clause in full, pro rata to each Person entitled to a distribution pursuant to such clause, as determined based on the maximum amount that could be distributable to each such Person under such clause):