Common use of Application of Funds on Deposit Clause in Contracts

Application of Funds on Deposit. in the Collection Account for the Certificates. (a) On each Distribution Date, the Servicer shall instruct the Trustee to withdraw, and the Trustee, acting in accordance with such instructions set forth in the Monthly Report, substantially in the form of Exhibit B, shall withdraw from the Collection Account, or retain therein, as applicable, to the extent of the sum of (w) the Floating Allocation Percentage of Collections of Finance Charge Receivables collected during the preceding Monthly Period plus (x) any Principal Funding Investment Proceeds deposited in the Collection Account pursuant to subsection 4.11(c) and any investment earnings on amounts on deposit in the Reserve Account deposited in the Collection Account pursuant to subsection 4.13(b) plus (y) the Reserve Draw Amount, if any, deposited into the Collection Account pursuant to subsection 4.13(d) plus (z) the amount of Excess Transferor Finance Charge Collections applied to cover Principal Funding Investment Shortfalls, if any (such sum, the "Available Series 2003-__Finance Charge Collections"[; provided that, with respect to the first Distribution Date, the amount deposited by the Transferor into the Collection Account pursuant to subsection 4.2(a) shall also constitute Available Series 2003-__ Finance Charge Collections]), the following amounts, and apply such amounts as follows and in the following priority: (i) Class A Monthly Interest. An amount equal to the lesser of (x) the Available Series 2003-__ Finance Charge Collections for such date and (y) the sum of Class A Monthly Interest and Class A Carryover Interest shall be paid to the Class A Certificateholders in accordance with Section 5.1.

Application of Funds on Deposit. in the Collection Account for the Certificates. (a) On each Distribution Date, the Servicer shall instruct the Trustee to withdraw, and the Trustee, acting in accordance with such instructions set forth in the Monthly Servicer Report, substantially in the form of Exhibit B, shall withdraw from the Collection Account, or retain therein, as applicable, to the extent of the sum of (wx) the Floating Allocation Percentage of Collections of Finance Charge Receivables collected during the preceding Monthly Period plus (xy) any investment earnings on amounts on deposit in the Principal Funding Investment Proceeds Account deposited in the Collection Account pursuant to subsection 4.11(cSection 4.11(b) and any investment earnings on amounts on deposit in the Reserve Account deposited in the Collection Account pursuant to subsection Section 4.13(b) plus (yz) the Reserve Draw Amount, if any, Amount deposited into the Collection Account pursuant to subsection 4.13(d) plus (z) the amount of Excess Transferor Finance Charge Collections applied to cover Principal Funding Investment Shortfalls, if any (such sum, the "Available Series 2003-__Finance 2000-__ Finance Charge Collections"[; provided that, with respect to the first Distribution Date, the amount deposited by the Transferor into the Collection Account pursuant to subsection Section 4.2(a) shall also constitute Available Series 2003-2000-__ Finance Charge Collections]), the following amounts, and apply such amounts as follows and in the following priority: (i) Class A Monthly Interest. An amount equal to the lesser of (x) the Available Series 2003-2000-__ Finance Charge Collections for such date and (y) the sum of Class A Monthly Interest and Carryover Class A Carryover Interest shall be paid to the Class A Certificateholders in accordance with Section 5.1. Notwithstanding anything to the contrary herein, the portion of Carryover Class A Interest that constitutes Class A Additional Interest shall be payable or distributable to Class A Certificateholders only to the extent permitted by applicable law.