Common use of Allocation Percentage Clause in Contracts

Allocation Percentage. The proceeds (the "Class A-1 Termination Proceeds") from such sale shall be immediately deposited into the Collection Account for the benefit of the Class A-1 Certificateholders. In the event that the Class A-2 Invested Amount is greater than zero on the Class A-2 Termination Date (after giving effect to deposits and distributions otherwise to be made on the Class A-2 Termination Date), the Trustee will sell or cause to be sold on the Class A-2 Termination Date Receivables (or interests therein) in an amount equal to the sum of (i) 110% of the Class A-2 Invested Amount on the Class A-2 Termination Date (after giving effect to such deposits and distributions) and (ii) the Available Subordinated Amount on the preceding Determination Date (after giving effect to the allocations, distributions, withdrawals and deposits to be made on the Distribution Date following such Determination Date); provided, however, that in no event shall such amount exceed the Series 1999-1 Allocation Percentage (for the Collection Period in which the Class A-2 Termination Date occurs) of Receivables on the Class A-2 Termination Date. The proceeds (the "Class A-2 Termination Proceeds") from such sale shall be immediately deposited into the Collection Account for the benefit of the Class A-2 Certificateholders.

Appears in 1 contract

Sources: Series Supplement (Carco Auto Loan Master Trust)

Allocation Percentage. The proceeds (the "Class A-1 Termination Proceeds") from such sale shall be immediately deposited into the Collection Account for the benefit of the Class A-1 Certificateholders. In the event that the Class A-2 Invested Amount is greater than zero on the Class A-2 Termination Date (after giving effect to deposits and distributions otherwise to be made on the Class A-2 Termination Date), the Trustee will sell or cause to be sold on the Class A-2 Termination Date Receivables (or interests therein) in an amount equal to the sum of (i) 110% of the Class A-2 Invested Amount on the Class A-2 Termination Date (after giving effect to such deposits and distributions) and (ii) the Available Subordinated Amount on the preceding Determination Date (after giving effect to the allocations, distributions, withdrawals and deposits to be made on the Distribution Date following such Determination Date); provided, however, that in no event shall such amount exceed the Series 19991998-1 Allocation Percentage (for the Collection Period in which the Class A-2 Termination Date occurs) of Receivables on the Class A-2 Termination Date. The proceeds (the "Class A-2 Termination Proceeds") from such sale shall be immediately deposited into the Collection Account for the benefit of the Class A-2 Certificateholders.

Appears in 1 contract

Sources: Pooling and Servicing Agreement (Carco Auto Loan Master Trust)