Common use of Additional Issuance; Reopening Clause in Contracts

Additional Issuance; Reopening. The Issuer may from time to time, without notice to, or the consent of, Noteholders of any Series, create and issue additional Series 20__-_ Notes of the same Class as any Class issued on the Closing Date. Any such additional Series 20__-_ Notes will form part of and have the same Principal Terms as such previously issued Class, except for (i) the initial principal amount of such Class, the Initial Invested Amount and the initial Note Balance of such Class on the Closing Date, (ii) the accrual and payment of interest prior to the issuance date of such additional Series 20__-_ Notes, and (iii) the first payment of interest following the issuance of such additional Series 20__-_ Notes. When issued, such additional Series 20__-_ Notes will be equally and ratably entitled to the benefits of the Indenture and this Indenture Supplement applicable to those Series 20__-_ Notes of the same Class issued on the Closing Date without preference, priority or distinction. The obligation of the Indenture Trustee to authenticate and deliver additional Series 20__-_ Notes after the Closing Date and to execute and deliver any amendments to this Indenture Supplement to facilitate such additional issuance will be subject to the satisfaction of the following conditions:

Appears in 3 contracts

Samples: Ford Credit Floorplan Corp, Ford Credit Floorplan Corp, Ford Credit Floorplan Corp

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Additional Issuance; Reopening. The Issuer may from time to time, without notice to, or the consent of, Noteholders of any Outstanding Series, create and issue additional Series 20__-_ 2010-5 Notes of the same Class as any Class issued on the Closing Date. Any such additional Series 20__-_ 2010-5 Notes will form part of and have the same Principal Terms as such previously issued Class, except for (i) the initial principal amount of such Class, the Initial Invested Amount and the initial Series 2010-5 Note Initial Principal Balance of such Class on the Closing Date, (ii) the accrual and payment of interest prior to the issuance date of such additional Series 20__-_ 2010-5 Notes, and (iii) the first payment of interest following the issuance of such additional Series 20__-_ 2010-5 Notes. When issued, such additional Series 20__-_ 2010-5 Notes will be equally and ratably entitled to the benefits of the Indenture and this Indenture Supplement applicable to those Series 20__-_ 2010-5 Notes of the same Class issued on the Closing Date without preference, priority or distinction. The obligation of the Indenture Trustee to authenticate and deliver additional Series 20__-_ 2010-5 Notes after the Closing Date and to execute and deliver any amendments to this Indenture Supplement to facilitate such additional issuance will be subject to the satisfaction of the following conditions:

Appears in 1 contract

Samples: Ford Credit Floorplan Master Owner Trust a Series 2010-5

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