DEPOSITS AND PAYMENTS TO HOLDERS Clause Samples

DEPOSITS AND PAYMENTS TO HOLDERS. Section 4.1 Deposits and Payments from the Trust Accounts. (a) On each Payment Date the Administrator, as Paying Agent and on behalf of the Indenture Trustee, shall retain in the Note Payment Account, or deposit into the Certificate Distribution Account, as applicable, and to the extent of funds on deposit in the Note Payment Account, the Total Remittance Amount and shall distribute such amount as specified in this Section. All allocations and payments made between and with respect to Pool 1 and Pool 2 in this Section shall be made concurrently. (b) On each Payment Date, the Administrator shall pay the Interest Remittance Amount for such date in the following order of priority: (i) to the Swap Counterparty, the amount of any Net Swap Payment or Swap Termination Payment owed to the Swap Counterparty for such Payment Date (including amounts remaining unpaid for previous Payment Dates) pursuant to the Swap Agreement (to the extent that any such Swap Termination Payment is not due to a Swap Counterparty Trigger Event); (ii) concurrently, in proportion to the amount of Accrued Note Interest applicable to each such Class, to the Senior Notes, Accrued Note Interest for each such Class and such Payment Date; (iii) to the Class M1 Notes, Accrued Note Interest for such Class and such Payment Date; (iv) to the Class M2 Notes, Accrued Note Interest for such Class and such Payment Date; (v) to the Class M3 Notes, Accrued Note Interest for such Class and such Payment Date; (vi) to the Class M4 Notes, Accrued Note Interest for such Class and such Payment Date; (vii) to the Class M5 Notes, Accrued Note Interest for such Class and such Payment Date; (viii) to the Class M6 Notes, Accrued Note Interest for such Class and such Payment Date; (ix) to the Class B1 Notes, Accrued Note Interest for such Class and such Payment Date; (x) to the Class B2 Notes, Accrued Note Interest for such Class and such Payment Date; (xi) to the Class B3 Notes, Accrued Note Interest for such Class and such Payment Date; (xii) to the Credit Risk Manager, the Credit Risk Manager’s Fee for such Payment Date; (xiii) to the Indenture Trustee, any amounts reimbursable pursuant to this Agreement and not previously reimbursed to the Indenture Trustee due to application of the limitations on amounts reimbursable in any Anniversary Year; and (xiv) for application as part of Monthly Excess Cashflow for such Payment Date, as provided in subsection (d) of this Section, any Interest Remittance Amount remaining ...