Common use of Distribution of Excess Clause in Contracts

Distribution of Excess. If (i) the amount on deposit in the Reserve Account on any Payment Date (after giving effect to all deposits therein or withdrawals therefrom on such Payment Date) exceeds the Reserve Account Required Amount and (ii) (a) no Trigger Event has occurred or (b) all Trigger Events which have occurred have been Deemed Cured, the Indenture Trustee shall distribute an amount equal to any such excess pursuant to the Servicer's Certificate and Section 4.5(a)(viii).

Distribution of Excess. If (i) the amount on deposit in the Reserve Account on any Payment Date (after giving effect to all deposits therein or withdrawals therefrom on such Payment Date) exceeds the Reserve Account Required Amount and (ii) (a) no Trigger Event or Reserve Event has occurred or (b) all Trigger Events and Reserve Events which have occurred have been Deemed Cured, the Indenture Trustee shall distribute an amount equal to any such excess pursuant to the Servicer's Certificate and after giving effect to any distribution thereof pursuant to Section 4.5(a)(viii).

Distribution of Excess. If (i) the amount on deposit in the Reserve Account on any Payment Date (after giving effect to all deposits therein or withdrawals therefrom on such Payment Date) exceeds the Reserve Account Required Amount and (ii) (a) no Trigger Event has occurred or (b) all Trigger Events which have occurred have been Deemed Cured, the Indenture Trustee shall distribute an amount equal to any such excess pursuant to the Servicer's Certificate and Section 4.5(a)(viii).