Common use of Alternative to Interest Amount Clause in Contracts

Alternative to Interest Amount. The provisions of Paragraph 6(d)(ii) will apply; provided, however, notwithstanding any other provision in this Agreement to the contrary, any Interest Amount shall be transferred regardless of whether a Delivery Amount would be created or increased by that Transfer, and thus such Interest Amount shall not constitute Posted Collateral and will not be subject to the security interest granted under Paragraph 2, nor shall it be subject to the rounding provisions of Paragraph 13(b)(iv)(D).

Appears in 7 contracts

Samples: 2002 Master Agreement, 2002 Master Agreement (Verizon Owner Trust 2019-C), 2002 Master Agreement (Verizon Owner Trust 2019-B)

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Alternative to Interest Amount. The provisions of Paragraph 6(d)(ii) of this Annex will apply; provided, however, notwithstanding any other provision in this Agreement to the contrary, any Interest Amount shall be transferred regardless of whether a Delivery Amount would be created or increased by that Transfer, and thus such Interest Amount shall not constitute Posted Collateral and will not be subject to the security interest granted under Paragraph 22 of this Annex, nor shall it be subject to the rounding provisions of clause 13(b)(iv)(D) of this Paragraph 13(b)(iv)(D)13.

Appears in 2 contracts

Samples: 2002 Master Agreement (Verizon Master Trust), 2002 Master Agreement (Verizon Master Trust)

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