Common use of Unpaid Class B Interest Clause in Contracts

Unpaid Class B Interest. On each Business Day, the Trustee, acting in accordance with the instructions from the Servicer, shall allocate to the Class B Securities and withdraw first from the Cap Proceeds Account, to the extent of the remaining Cap Receipt Amount for such Business Day and then from the Collection Account and then from the Payment Reserve Account and deposit in the Interest Funding Account, to the extent of the Available Series 1998-1 Finance Charge Collections remaining after giving effect to the withdrawals pursuant to subsections 4.9(a)(i) through (vii), an amount equal to the lesser of (x) any such remaining Available Series 1998-1 Finance Charge Collections and (y) the sum of (1) the excess of the Daily Portion of the product of (i) the Class B Interest Rate and (ii) a fraction the numerator of which is the actual number of days in the then current Interest Accrual Period and the denominator of which is 360 and (iii) the Class B Outstanding Principal Amount as of the close of business on the first day of such Interest Accrual Period, over the amount on deposit in the Interest Funding Account or previously paid to the Class B Securityholders with respect thereto and (2) any additional interest (to the extent permitted by applicable law) at the Class B Interest Rate plus 2% for interest that has accrued on interest that was due during a prior Monthly Period pursuant to this subsection but was not deposited in the Interest Funding Account or paid to the Class B Securityholders.

Unpaid Class B Interest. On each Business Day, the Trustee, acting in accordance with the instructions from the Servicer, shall allocate to the Class B Securities Certificates and withdraw first from the Cap Proceeds Account, to the extent of the remaining Cap Receipt Amount for such Business Day and then from the Collection Account and then from the Payment Reserve Account and then, on each Re- serve Application Date, from the Investor Reserve Account and deposit in the Interest Funding Account, to the extent of the Available Series 19981995-1 Finance Charge Collections remaining after giving effect to the withdrawals pursuant to subsections 4.9(a)(i) through (viiviii), an amount equal to the lesser of (x) any such remaining Available Series 19981995-1 Finance Charge Collections and (y) the sum of (1) the excess of the Daily Portion of the product of (i) the Class B Interest Certificate Rate and (ii) a fraction the numerator of which is the actual number of days in the then current Interest Accrual Period and the denominator of which is 360 and (iii) the Class B Outstanding Principal Amount as of the close of business on the first day of such Interest Accrual Period, over the amount on deposit in the Interest Funding Account or previously paid to the Class B Securityholders Certificateholders with respect thereto and (2) any additional interest (to the extent permitted by applicable law) at the Class B Interest Certificate Rate plus 2% for interest that has accrued on interest that was due during a prior Monthly Period pursuant to this subsection but was not deposited in the Interest Funding Account or paid to the Class B SecurityholdersCertificateholders.