Common use of Excess Principal Collections Clause in Contracts

Excess Principal Collections. On each day, the Servicer shall allocate Excess Principal Collections to each Series to cover Principal Shortfalls as set forth in the related Series Supplement. To the extent that Excess Principal Collections exceed Principal Shortfalls, the Servicer shall instruct the Indenture Trustee in writing to withdraw such amount from the Collection Account and, first, shall deposit an amount therefrom into the Excess Funding Account such that the Pool Balance is not less than the Required Pool Balance, and second, shall pay any remaining amounts to the Certificateholders as provided in the Trust Agreement or, to the extent requested by the Certificateholders, deposit such amounts into the Excess Funding Account.

Excess Principal Collections. On each day, the Servicer shall allocate Excess Principal Collections to each Series to cover Principal Shortfalls as set forth in the related Series Supplement. To the extent that Excess Principal Collections exceed Principal Shortfalls, the Servicer shall instruct the Indenture Trustee in writing to withdraw such amount from the Collection Account and, first, shall deposit an amount therefrom into the Excess Funding Account such that the Pool Balance is not less than the Required Pool Balance, and second, shall pay any remaining amounts to the Certificateholders as provided in the Trust Agreement or, to the extent requested by the Certificateholders, deposit any amounts payable to such amounts Certificateholders into the Excess Funding Account.