Common use of Allocations of Principal Collections Clause in Contracts

Allocations of Principal Collections. (a) On each date on which Collections are deposited into the Collection Account, the Indenture Trustee shall allocate the Principal Collections deposited on such date among each Series of Notes and the Transferor Interest in accordance with directions provided by the Servicer in the Daily Servicer’s Certificate. The Principal Collections shall be allocated as follows: (i) Principal Collections shall be allocated to the holders of the Transferor Interest in an amount equal to the product of (A) the Transferor Percentage for the date of determination and (B) the Principal Collections deposited into the Collection Account on such date. (ii) Principal Collections shall be allocated to each Series of Notes in an amount equal to the product of (A) the Principal Allocation Percentage for such Series (for such date of determination) and (B) the Principal Collections deposited into the Collection Account on such date. (b) The amount of Principal Collections allocated to the Transferor Interest on any date pursuant to Section 5.05(a)(i) shall be paid by the Indenture Trustee to the holders of the Transferor Interest not later than the following Business Day as directed by the Servicer; provided, however, that amounts allocated to the holders of the Transferor Interest pursuant to Section 5.05(a)(i) and payable to the holders of the Transferor Interest shall instead be deposited into the Excess Funding Account on the following Business Day to the extent that (x) the Transferor Amount is, or as a result of such payment would become, less than the Required Transferor Amount or (y) the Pool Balance is, or as a result of such payment would become, less than the Required Pool Balance.

Allocations of Principal Collections. (a) On each date on which Collections are deposited into the Collection Account, the Indenture Trustee The Servicer shall allocate the Principal Collections deposited on such date among each Series of Notes and the Transferor Interest in accordance with directions provided by the Servicer in the Daily Servicer’s Certificate. The Principal Collections shall be allocated as follows: (i) Principal Collections shall be allocated to the holders of Series 1998-2 Securityholders the Transferor Interest in following amounts as set forth below: (x) Allocations During the Revolving Period. During the Revolving Period (A) an amount equal to the product of (AI) the Transferor sum of the Class B Principal Percentage, the Collateral Principal Percentage for and the date of determination Class D Principal Percentage and (BII) the Principal Allocation Percentage and (III) the Series 1998-2 Allocation Percentage and (IV) the aggregate amount of Collections of Principal Receivables deposited into in the Collection Account on such date. (ii) Principal Collections Deposit Date, shall be allocated to each the Series of Notes 1998-2 Securityholders and retained in the Collection Account until applied as provided herein and (B) an amount equal to the product of (AI) the Class A Principal Percentage and (II) the Principal Allocation Percentage for such Series (for such date of determination) and (BIII) the Series 1998-2 Allocation Percentage and (IV) the aggregate amount of Collections of Principal Collections Receivables deposited into in the Collection Account on such date. (b) The amount of Principal Collections Deposit Date shall be allocated to the Transferor Interest on Series 1998-2 Securityholders and, to the extent needed to make any date distribution pursuant to Section 5.05(a)(i) subsection 4.5(e)(i), deposited in the Collection Account, and otherwise shall be paid by first, if any other Principal Sharing Series is outstanding and in its amortization period or accumulation period, retained in the Indenture Trustee Collection Account for application, to the holders extent necessary, as Shared Principal Collections on the related Distribution Date, and second paid to the Holder of the Transferor Interest not later than the following Business Day as directed by the ServicerSecurity; provided, however, that amounts allocated such amount to be paid to the holders Holder of the Transferor Interest pursuant Security on any Deposit Date shall be paid to Section 5.05(a)(i) and payable to the holders of the Transferor Interest shall instead be deposited into the Excess Funding Account on the following Business Day to the extent that (x) such Holders only if the Transferor Amount is, or as a result of on such payment would become, less Deposit Date is greater than the Required Transferor Amount or (yafter giving effect to all Principal Receivables transferred to the Trust on such day) and otherwise shall be deposited in the Pool Balance is, or as a result of such payment would become, less than the Required Pool BalanceSpecial Funding Account.

Allocations of Principal Collections. The Servicer shall allocate to the Series 2000-2 Certificateholders the following amounts as set forth below: (a) On each date on which Collections are deposited into Allocations During the Collection Account, Revolving Period. During the Indenture Trustee shall allocate the Principal Collections deposited on such date among each Series of Notes and the Transferor Interest in accordance with directions provided by the Servicer in the Daily Servicer’s Certificate. The Principal Collections shall be allocated as follows: Revolving Period (iA) Principal Collections shall be allocated to the holders of the Transferor Interest in an amount equal to the product of (AI) the Transferor sum of the Class B Principal Percentage for and the date of determination Collateral Principal Percentage and (BII) the Principal Allocation Percentage and (III) the Series 2000-2 Allocation Percentage and (IV) the aggregate amount of Collections of Principal Receivables deposited into in the Collection Account on such date. (ii) Principal Collections Deposit Date, shall be allocated to each the Series of Notes 2000-2 Certificateholders and retained in the Collection Account until applied as provided herein and (B) an amount equal to the product of (AI) the Class A Principal Percentage and (II) the Principal Allocation Percentage for such Series (for such date of determination) and (BIII) the Series 2000-2 Allocation Percentage and (IV) the aggregate amount of Collections of Principal Collections Receivables deposited into in the Collection Account on such date. (b) The amount of Principal Collections Deposit Date shall be allocated to the Transferor Interest on Series 2000-2 Certificateholders and, to the extent needed to make any date distribution pursuant to Section 5.05(a)(i) shall be paid by subsection 4.05(d)(i), deposited in the Indenture Trustee Collection Account, and otherwise first, if any other Principal Sharing Series is outstanding and in its amortization period or accumulation period, retained in the Collection Account for application, to the holders extent necessary, as Shared Principal Collections on the related Distribution Date, and second paid to the Holders of the Transferor Interest not later than the following Business Day as directed by the ServicerCertificates; provided, however, that amounts allocated such amount to be paid to the holders Holders of the Transferor Interest pursuant Certificates on any Deposit Date shall be paid to Section 5.05(a)(i) and payable to the holders of the Transferor Interest shall instead be deposited into the Excess Funding Account on the following Business Day to the extent that (x) such Holders only if the Transferor Amount is, or as a result of on such payment would become, less Deposit Date is greater than the Required Transferor Amount or (yafter giving effect to all Principal Receivables transferred to the Trust on such day) and otherwise shall be deposited in the Pool Balance is, or as a result of such payment would become, less than the Required Pool BalanceSpecial Funding Account.