Common use of Application of Series Allocable Finance Charge Collections Clause in Contracts

Application of Series Allocable Finance Charge Collections. (i) On each Transfer Date, the Master Trust Trustee, acting in accordance with instructions from the Servicer, shall withdraw from the Collections Account and allocate to the Deposit Account Noteholder Available Interest Amounts for the related Due Period. Such Noteholder Available Interest Amounts shall be further allocated and distributed to each series of Notes in accordance with the Indenture and each Indenture Supplement related to a series of Notes. (ii) On each Transfer Date, the Master Trust Trustee, acting in accordance with instructions from the Servicer, shall withdraw from the Collections Account and pay to the Seller or the holders of the Seller’s Certificates the Seller Interest Amounts for such Transfer Date; provided, however, that if an Excess Cash Collateral Event occurs with respect to a series and is continuing, then such amounts (or if there are multiple series of notes for which an Excess Cash Collateral Event or a similar event requiring an increase in such series’ collateral amount has occurred and is continuing, to each such series pro rata based on such series’ collateral amount shortfall) will be treated as Series Available Principal Amounts to the extent necessary to maintain the Seller’s Invested Amount at an amount not less than the Minimum Seller’s Invested Amount.

Application of Series Allocable Finance Charge Collections. (i) On each Transfer Date, the Master Trust Trustee, acting in accordance with written instructions from the Servicer, shall withdraw from the Collections Account and allocate to the Deposit Account Noteholder Available Interest Amounts for the related Due Period. Such Noteholder Available Interest Amounts shall be further allocated and distributed to each series of Notes in accordance with the Indenture and each Indenture Supplement related to a series of Notes. (ii) On each Transfer Date, the Master Trust Trustee, acting in accordance with written instructions from the Servicer, shall withdraw from the Collections Account and pay to the Seller or the holders of the Seller’s Certificates the Seller Interest Amounts for such Transfer Date; provided, however, that if an Excess Cash Collateral Event occurs with respect to a series and is continuing, then such amounts (or if there are multiple series of notes for which an Excess Cash Collateral Event or a similar event requiring an increase in such series’ collateral amount has occurred and is continuing, to each such series pro rata based on such series’ collateral amount shortfall) will be treated as Series Available Principal Amounts series available principal amounts as provided in the related indenture supplement to the extent necessary to maintain increase the Seller’s Invested Amount at overcollateralization amount for any series to an amount not less than the Minimum Seller’s Invested Amounttargeted overcollateralization amount.