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A series may include two or more classes
of Certificates which differ as to timing
of distributions, sequential order,
priority of payment, seniority, allocation
of loss, Pass Through Rate or amount of
distributions in respect of Certificate
Balance or interest, or as to which
distributions in respect of Certificate
Balance or interest on any class may or
may not be made upon the occurrence of
specified events or on the basis of
collections from designated portions of
the Receivables Pool. In addition, a
series may include one or more classes of
Certificates ("Strip Certificates")
entitled to (i) distributions in respect
of Certificate Balance with
disproportionate, nominal or no interest
distributions, or (ii) interest
distributions, with disproportionate,
nominal or no distributions in respect of
Certificate Balance.
To the extent specified in the related
Prospectus Supplement, distributions in
respect of the Certificates will be
subordinated in priority of payment to
payments on the Notes.
If the Servicer exercises its option to
purchase the Receivables of a Trust on the
terms and conditions described below under
"The Transfer and Servicing Agreement-
Termination," Certificateholders will
receive an amount in respect of the
Certificates as specified in the related
Prospectus Supplement.
The Trust Property . . The property of each Trust will include a
pool of retail instalment sale contracts
for automobiles and light trucks, certain
monies due or received thereunder on and
after the Cutoff Date specified in the
related Prospectus Supplement (a "Cutoff
Date"), security interests in the vehicles
financed thereby, certain accounts and the
proceeds thereof, any proceeds from claims
on certain insurance policies and certain
rights of the Seller under the related
Pooling and Servicing Agreement. The
aggregate Amount Financed under the
Receivables held by a Trust (the
"Aggregate Amount Financed") will be
specified in the related Prospectus
Supplement.
Credit Enhancement . . If and to the extent specified in the
related Prospectus Supplement, credit
enhancement with respect to a Trust or any
class of Securities may include any one or
more of the following: subordination of
one or more other classes of Securities,
a Reserve Account, overcollateralization,
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