Common use of Allocation of Seller’s Share of Collections Prior to Termination Date Clause in Contracts

Allocation of Seller’s Share of Collections Prior to Termination Date. If such day is not a Termination Day, out of the Seller’s Share of Collections, the Servicer shall first, remit to the Servicer any accrued and unpaid Servicing Fees, second, deposit into the Cash Reserve Account an amount up to the excess of the Cash Reserve over the amount on deposit in the Cash Reserve Account and third, remit to the Seller the remainder of such Collections; provided, however, that during the continuation of an ADESA Financial Covenant Event, all remaining Collections which would otherwise be distributed to the Seller under clause third shall be transferred to the Liquidation Account and withdrawn therefrom solely to reinvest in Pool Receivables or for distribution in accordance with Section 1.4(c)(iii) if the Termination Date has occurred.