Common use of Application of Interest Drawings Clause in Contracts

Application of Interest Drawings. Notwithstanding anything to the contrary contained in this Agreement, (i) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class G Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class G Cash Collateral Account, and payable in each case to the Class G Trustee on behalf of the Class G Certificateholders, shall be promptly distributed to the Class G Trustee and (ii) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class C Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class C Cash Collateral Account, and payable in each case to the Class C Trustee on behalf of the Class C Certificateholders, shall be promptly distributed to the Class C Trustee, except that if after any Distribution Date the Subordination Agent shall receive any amount in respect of an Interest Drawing under the Class G Liquidity Facility or a withdrawal from the Class G Cash Collateral Account to pay Accrued Class G Interest, after such Accrued Class G Interest has been fully paid by a Policy Drawing under the Policy, such amounts shall be paid directly to the Policy Provider as reimbursement of such Policy Drawing rather than to the Class G Trustee on behalf of the Class G Certificateholders and shall constitute an Interest Drawing under the Class G Liquidity Facility hereunder.

Application of Interest Drawings. Notwithstanding anything to the contrary contained in this Agreement, (i) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class G Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class G Cash Collateral Account, and payable in each case to the Class G Trustee on behalf of the Class G Certificateholders, shall be promptly distributed to the Class G Trustee Trustee, and (ii) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class C Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class C Cash Collateral Account, and payable in each case to the Class C Trustee on behalf of the Class C Certificateholders, shall be promptly distributed to the Class C Trustee, except that if after any Distribution Date the Subordination Agent shall receive any amount in respect of an Interest Drawing under the Class G Liquidity Facility or a withdrawal from the Class G Cash Collateral Account to pay Accrued Class G Interest, Interest after such Accrued Class G Interest has been fully paid by a Policy Drawing under the Policy, such amounts shall be paid directly to the Policy Provider as reimbursement of such Policy Drawing rather than to the Class G Trustee on behalf of the Class G Certificateholders and shall constitute an Interest Drawing under the Class G Liquidity Facility or a withdrawal from the Class G Cash Collateral Account, as the case may be, hereunder.

Application of Interest Drawings. Notwithstanding anything to the contrary contained in this Agreement, (i) all payments received by the Subordination Agent in 37 41 respect of an Interest Drawing under the Class G Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class G Cash Collateral Account, and payable in each case to the Class G Trustee on behalf of the Class G Certificateholders, shall be promptly distributed to the Class G Trustee Trustee, and (ii) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class C Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class C Cash Collateral Account, and payable in each case to the Class C Trustee on behalf of the Class C Certificateholders, shall be promptly distributed to the Class C Trustee, except that if after any Distribution Date the Subordination Agent shall receive any amount in respect of an Interest Drawing under the Class G Liquidity Facility or a withdrawal from the Class G Cash Collateral Account to pay Accrued Class G Interest, Interest after such Accrued Class G Interest has been fully paid by a Policy Drawing under the Policy, such amounts shall be paid directly to the Policy Provider as reimbursement of such Policy Drawing rather than to the Class G Trustee on behalf of the Class G Certificateholders and shall constitute an Interest Drawing under the Class G Liquidity Facility or a withdrawal from the Class G Cash Collateral Account, as the case may be, hereunder.

Application of Interest Drawings. Notwithstanding anything to the contrary contained in this Agreement, (i) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class G A-1 Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class G A-1 Cash Collateral Account, and payable in each case to the Class G Trustee on behalf of the Class G A-1 Certificateholders, shall be promptly distributed to the Class G A-1 Trustee and (ii) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class A-2 Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class A-2 Cash Collateral Account, and payable in each case to the Class A-2 Certificateholders, shall be promptly distributed to the Class A-2 Trustee and (iii) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class B Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class B Cash Collateral Account, and payable in each case to the Class B Certificateholders, shall be promptly distributed to the Class B Trustee and (iv) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class C Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class C Cash Collateral Account, and payable in each case to the Class C Trustee on behalf of the Class C Certificateholders, shall be promptly distributed to the Class C Trustee, except that if after any Distribution Date the Subordination Agent shall receive any amount in respect of an Interest Drawing under the Class G Liquidity Facility or a withdrawal from the Class G Cash Collateral Account to pay Accrued Class G Interest, after such Accrued Class G Interest has been fully paid by a Policy Drawing under the Policy, such amounts shall be paid directly to the Policy Provider as reimbursement of such Policy Drawing rather than to the Class G Trustee on behalf of the Class G Certificateholders and shall constitute an Interest Drawing under the Class G Liquidity Facility hereunder.

Application of Interest Drawings. Notwithstanding anything to the contrary contained in this Agreement, (i) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class G Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class G Cash Collateral Account, and payable in each case to the Class G Trustee on behalf of the Class G Certificateholders, shall be promptly distributed to the Class G Trustee and (ii) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class C Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class C Cash Collateral Account, and payable in each case to the Class C Trustee on behalf of the Class C Certificateholders, shall be promptly distributed to the Class C Trustee, except that if after any Distribution Date the Subordination Agent shall receive any amount in respect of an Interest Drawing under the Class G Liquidity Facility or a withdrawal from the Class G Cash Collateral Account to pay Accrued Class G Interest, Interest after such Accrued Class G Interest has been fully paid by a Policy Drawing under the Policy, such amounts shall be paid directly to the Policy Provider as reimbursement of such Policy Drawing rather than to the Class G Trustee on behalf of the Class G Certificateholders and shall constitute an Interest Drawing under the Class G Liquidity Facility or a withdrawal from the Class G Cash Collateral Account hereunder.

Application of Interest Drawings. Notwithstanding anything to the contrary contained in this Agreement, (i) all payments received by the Subordination Agent in respect of an Interest Drawing under the Class G a Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class G any Cash Collateral Account, and payable in each case to the related Class G Trustee on behalf of the Class G Certificateholders, shall be promptly distributed to the Trustee for such Class G Trustee and (ii) all payments received and, upon receipt thereof by such Trustee, applied to the Subordination Agent payment of interest in respect of an Interest Drawing under the Class C Liquidity Facility and all amounts withdrawn by the Subordination Agent from the Class C Cash Collateral Account, and payable in each case to the Class C Trustee on behalf of the Class C Certificateholders, shall be promptly distributed to the Class C Trusteewhich it was drawn, except that if after any Distribution Date (i) the Subordination Agent shall receive any amount in respect of an Interest Drawing under the Class G Liquidity Facility or a withdrawal from the Class G Cash Collateral Account to pay Accrued Class G Interest, Interest after such Accrued Class G Interest has been fully paid by a Policy Drawing under the PolicyPolicy pursuant to Section 3.07(a), or (ii) the Subordination Agent shall receive any amount in respect of a Policy Drawing under the Policy pursuant to Section 3.07(a), to pay Accrued Class G Interest after such amounts Accrued Class G Interest has been paid (in full or in part) to the Class G Trustee by an Interest Drawing under the Class G Liquidity Facility or a withdrawal from the Class G Cash Collateral Account, the Subordination Agent, in the case of either clause (i) or clause (ii), shall be paid pay an amount equal to the amount of such Interest Drawing or withdrawal directly to the Policy Provider as reimbursement of such Policy Drawing rather than to the Class G Trustee on behalf of Certificateholders or the Class G Certificateholders and shall constitute an Interest Drawing Trustee (provided that any such amount paid under both the Class G Liquidity Facility hereunder(or from the Class G Cash Collateral Account) and the Policy and constituting an Election Interest Payment with respect to one or more Series G Equipment Notes shall be repaid directly to the Class G Liquidity Provider as reimbursement for such Interest Drawing or to the Class G Cash Collateral Account as replenishment for such withdrawal, as applicable).