Common use of Calculation of Principal Payments and Distributions to the Issuer Clause in Contracts

Calculation of Principal Payments and Distributions to the Issuer. Not later than 12:00 noon (New York City time) on the third Business Day prior to each Payment Date, the Issuer shall cause the Administrator or the Servicer to calculate or determine the following with respect to principal payments on the Notes due on such Payment Date and the amounts distributable to the Issuer on such Payment Date: (i) the Outstanding Principal Balance of each Series of Notes (and Classes within such Series) on such Payment Date immediately prior to any principal payment on such date; (ii) the amounts of the principal payments, if any, to be made in respect of each Series of Securities (and Classes within such Series) on such Payment Date, including the Scheduled Principal Payment Amounts for each Series of Notes (and Classes within such Series) and any unpaid Scheduled Principal Payment Amounts for each Series of Notes (and Classes within such Series) for prior Payment Dates; and (iii) the amounts, if any, distributable to the Issuer on such Payment Date.

Calculation of Principal Payments and Distributions to the Issuer. Not later than 12:00 noon (New York City time) on the third Business Day prior to each Payment Date, the Issuer shall cause the Administrator or the Servicer to calculate or determine the following with respect to principal payments on the Notes due on such Payment Date and the amounts distributable to the Issuer on such Payment Date: (i) the Outstanding Principal Balance of each Series of Notes (and Classes within such Series) on such Payment Date immediately prior to any principal payment on such date; (ii) the amounts of the principal payments, if any, to be made in respect of each Series of Securities Notes (and Classes within such Series) on such Payment Date, including the Scheduled Principal Payment Amounts for each Series of Notes (and Classes within such Series) and any unpaid Scheduled Principal Payment Amounts for each Series of Notes (and Classes within such Series) for prior Payment Dates; and (iii) the amounts, if any, distributable to the Issuer on such Payment Date.

Calculation of Principal Payments and Distributions to the Issuer. Not later than 12:00 noon (New York City time) on the third Business Day prior to each Payment Date, the Issuer shall cause the Administrator or the Servicer to calculate or determine the following with respect to principal payments on the Equipment Notes due on such Payment Date and the amounts distributable to the Issuer on such Payment Date: (i) the Outstanding Principal Balance of each Series of Equipment Notes (and Classes within such Series) on such Payment Date immediately prior to any principal payment on such date; (ii) the amounts of the principal payments, if any, to be made in respect of each Series of Securities Equipment Notes (and Classes within such Series) on such Payment Date, including the Scheduled Principal Payment Amounts for each Series of Notes (and Classes within such Series) and any unpaid Scheduled Principal Payment Amounts for each Series of Notes (and Classes within such Series) for prior Payment Dates; and (iii) the amounts, if any, distributable to the Issuer on such Payment Date.