Common use of Class B Monthly Interest Clause in Contracts

Class B Monthly Interest. On each Business Day during a Monthly Period, the Trustee, acting in accordance with instructions from the Servicer, shall deposit into the Interest Funding Account for distribution on the next Distribution Date to the Class B Securityholders, to the extent of any Available Series 1998-2 Finance Charge Collections remaining after giving effect to the application pursuant to subsection 4.9(a)(i) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 1998-2 Finance Charge Collections and (y) the excess of (1) the sum of Class B Monthly Interest for the Interest Accrual Period beginning in such Monthly Period and Carryover Class B Monthly Interest over (2) any amounts with respect thereto previously deposited into the Interest Funding Account during such Monthly Period. Notwithstanding anything to the contrary herein, the portion of Carryover Class B Monthly Interest that constitutes Class B Additional Interest shall be payable or distributable to Class B Securityholders only to the extent permitted by applicable law.

Class B Monthly Interest. On each Business Day during a Monthly Period, the Trustee, acting in accordance with instructions from the Servicer, shall deposit into the Interest Funding Account for distribution on the next Distribution Date to the Class B Securityholders, to the extent of any Available Series 1998-2 1 Finance Charge Collections remaining after giving effect to the application pursuant to subsection 4.9(a)(i) of the Agreement, an amount equal to the lesser of (x) any such remaining Available Series 1998-2 1 Finance Charge Collections and (y) the excess of (1) the sum of Class B Monthly Interest for the Interest Accrual Period beginning in such Monthly Period and Carryover Class B Monthly Interest over OVER (2) any amounts with respect thereto previously deposited into the Interest Funding Account during such Monthly Period. Notwithstanding anything to the contrary herein, the portion of Carryover Class B Monthly Interest that constitutes Class B Additional Interest shall be payable or distributable to Class B Securityholders only to the extent permitted by applicable law.