Common use of Collection Data Clause in Contracts

Collection Data. For the second Billing Month, the daily amounts of Securitization Charges collected must be adjusted to reflect the collections billed under the prior Securitization Charge Rate applicable to each rate class. To accomplish this, the collection amounts from the billing systems are multiplied by 1 minus the cumulative First and Second Billing Months’ Collection Curve Percentage. Standard processing on these amounts is then performed using the recalculated prior month’s Securitization Ratio. (Daily Servicer’s Report) Collection Applicable to New Securitization Charge Rate