Application of Available Funds in Collection Account and Other Sources Sample Clauses

Application of Available Funds in Collection Account and Other Sources. (a) As long as the Indenture Trustee has received the Monthly Investor Report by the related Determination Date, the Indenture Trustee (based on the information in the Monthly Investor Report) will, on each Payment Date and to the extent of Available Investor Interest Collections in the Collection Account, make the following applications, payments or deposits in the following order of priority: (i) to the Note Paying Agent for payment to the Noteholders of the Class A Notes, pro rata, the Accrued Note Interest for the Class A Notes for such Payment Date; (ii) to the Note Paying Agent for payment to the Noteholders of the Class B Notes, the Accrued Note Interest for the Class B Notes for such Payment Date; (iii) to the Note Paying Agent for payment to the Noteholders of the Class C Notes, the Accrued Note Interest for the Class C Notes for such Payment Date; (iv) to the Note Paying Agent for payment to the Noteholders of the Class D Notes, the Accrued Note Interest for the Class D Notes for such Payment Date; (v) pro rata, to the payment of all amounts, including indemnities, then due to the Owner Trustee and the Indenture Trustee for the Series 2011-2 Notes, and any expenses incurred by the Issuer for the Series 2011-2 Notes in accordance with the Transaction Documents, in each case, to the extent not paid by the Servicer or the Administrator, up to a maximum of $150,000 per year; (vi) pro rata (A) to the Back-up Servicer, the Monthly Back-up Servicing Fee for such Payment Date, if any, together with any Monthly Back-up Servicing Fees previously due but not paid on prior Payment Dates, and (B) if Ford Credit or one of its Affiliates is no longer the Servicer, to the Servicer, the Monthly Servicing Fee for such Payment Date, together with any Monthly Servicing Fees previously due but not paid on prior Payment Dates (unless such amount has been netted against deposits into the Collection Account in accordance with Section 8.4(c) of the Indenture); (vii) to treat as Available Investor Principal Collections for such Payment Date, the Investor Default Amount for such Payment Date; (viii) to the Series 2011-2 Reserve Account, the Series 2011-2 Reserve Account Deposit Amount for such Payment Date; (ix) to treat as Available Investor Principal Collections for such Payment Date, the sum of Investor Charge-Offs that have not been previously reimbursed; (x) to treat as Available Investor Principal Collections for such Payment Date, the sum of Reallocated Principal Co...