Allocation and Application of Collections Clause Samples
The "Allocation and Application of Collections" clause defines how payments or funds received are distributed among various obligations or accounts under an agreement. Typically, this clause specifies the order in which collected amounts are applied, such as first to outstanding fees, then to interest, and finally to principal balances. By establishing a clear hierarchy for the use of incoming funds, the clause ensures transparency and prevents disputes over how payments are credited, thereby reducing the risk of misunderstandings between parties.
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Allocation and Application of Collections. [Reserved].
Allocation and Application of Collections. Any provisions of Article 4 of the Base Indenture which allocate and apply Collections shall continue to apply irrespective of the issuance of the Series 2010-1 Notes. Sections 4.1 through 4.5 of the Base Indenture shall be read in their entirety as provided in the Base Indenture, provided that for purposes of the Series 2010-1 Notes, clauses (c), (d) and (e) of Section 4.2 of the Base Indenture shall be modified as permitted by Section 11.1(f) of the Base Indenture and shall read as follows:
Allocation and Application of Collections. 50 Section 8.1. Collection of Money ................................................ 50 Section 8.2. Rights of Noteholders .............................................. 50 Section 8.3. Establishment of Collection Account and Excess Funding Account .................................................... 50 Section 8.4. Collections and Allocations ........................................ 53 Section 8.5. Shared Principal Collections ....................................... 56 Section 8.6. Excess Finance Charge Collections .................................. 56 Section 8.7. Allocation of Collateral to Series or Groups ....................... 57 Section 8.8. Release of Collateral; Eligible Loan Documents ..................... 57 Section 8.9.
Allocation and Application of Collections. Section 5.1
Allocation and Application of Collections. Establishment of Group III Collection Account, Series 2001-1 Collection Account, Series 2001-1 Excess Funding Account and Series 2001-1 Accrued Interest Account....................
Allocation and Application of Collections. Series 2014-A [Insert columns for other Series]
Allocation and Application of Collections. 53 Section 5.1. Collection Account.......................... 53 Section 5.2. Collections and Allocations................. 55 Section 5.3. Determination of Monthly Interest........... 58 Section 5.4. Determination of Monthly Principal.......... 58 Section 5.5. Paired Series............................... 58
Allocation and Application of Collections. Series 2004-C Series 2006-A Series 2008-A Series 2009-A Series 2009-B Series 2009-C Series 2009-D Series 2010-A
Allocation and Application of Collections. Establishment of Group III Collection Account, Series 2004-1 Collection Account, Series 2004-1 Excess Funding Account and Series 2004-1 Accrued Interest Account..........................37 Section 4.7 Allocations with Respect to the Series 2004-1 Notes.........38 Section 4.8 Monthly Payments............................................45 Section 4.9 Deposits, Draws and Claims in Respect of Payment of Note Interest.................................46 Section 4.10 Deposits, Draws and Claims in Respect of Payment of Note Principal................................48 Section 4.11 Retained Distribution Account...............................51 Section 4.12 Series 2004-1 Distribution Account..........................52
Allocation and Application of Collections. Section 5.1. Issuer Accounts Section 5.2. Collections and Allocations Section 5.3. Determination of Monthly Interest Section 5.4. Determination of Monthly Principal Section 5.5. Misdirected Collections ARTICLE 6. DISTRIBUTIONS Section 6.1. Distributions in General