Common use of Receipt Distribution and Application of Income Clause in Contracts

Receipt Distribution and Application of Income. Section 12.01 -- Payment by Agent Generally. Subject to sections 12.02, 12.03, 12.04, and 12.05 hereof, all payments (including prepayments under section 4.02 and the first sentence of 4.03 of this Agreement) of principal of and interest on any Note, and of Interest Supplements, received by Agent shall be paid to the holders of the Certificates related to such Note pro rata in accordance with the principal and interest then due on such Certificates; the payment of the Facility Fee received by Agent shall be paid one-half to each Lender; and all payments of the Commitment Fee received by Agent shall be paid to the Lenders pro rata in accordance with the outstanding Commitment of each.

Receipt Distribution and Application of Income. Section 12.01 -- Payment by Agent Generally. Subject to sections 12.02, 12.03, 12.04, and 12.05 hereof, all payments (including prepayments under section 4.02 and the first sentence of 4.03 of this Agreement) of principal of and interest on any Note, and of Interest Supplements, Note received by Agent shall be paid to the holders of the Certificates related to such Note pro rata in accordance with the principal and interest then due on such Certificates; the payment of the Facility Fee received by Agent shall be paid one-half to each Lender; and all payments of the Commitment Fee received by Agent shall be paid to the Lenders pro rata in accordance with the outstanding Commitment of each.