Conditions to Satisfaction and Discharge. Except as stated in Section 4.1(c), this Indenture will cease to be of further effect for the Notes if: (i) either (A) the Notes that have been authenticated and delivered (other than (1) Notes that have been destroyed, lost or stolen and that have been replaced or paid under Section 2.7 and (2) Notes for which payment money has been deposited in trust or segregated and held in trust by the Issuer and later paid to the Issuer or discharged from the trust under Section 3.3) have been delivered to the Indenture Trustee for cancellation or (B) the Notes not delivered to the Indenture Trustee for cancellation have become due and payable and the Issuer has deposited or caused to be deposited with the Indenture Trustee money in trust in an amount sufficient to pay and discharge the outstanding principal amount of the Notes and interest accrued on the Notes on the Redemption Date; (ii) the Issuer has paid or caused to be paid all money payable by it under the Transaction Documents; and (iii) the Issuer has delivered to the Indenture Trustee an Officer’s Certificate and an Opinion of Counsel meeting the requirements of Section 11.3.
Appears in 41 contracts
Samples: Indenture (Ford Credit Auto Owner Trust 2023-B), Indenture (Ford Credit Auto Owner Trust 2023-B), Indenture (Ford Credit Auto Owner Trust 2022-A)
Conditions to Satisfaction and Discharge. Except as stated in Section 4.1(c), this Indenture will cease to be of further effect for the Notes if:
(i) either (A) the Notes that have been authenticated and delivered (other than (1) Notes that have been destroyed, lost or stolen and that have been replaced or paid under Section 2.7 and (2) Notes for which payment money has been deposited in trust or segregated and held in trust by the Issuer Trust and later paid to the Issuer Trust or discharged from the trust under Section 3.3) have been delivered to the Indenture Trustee for cancellation or (B) the Notes not delivered to the Indenture Trustee for cancellation have become due and payable and the Issuer Trust has deposited or caused to be deposited with the Indenture Trustee money in trust in an amount sufficient to pay and discharge the outstanding principal amount Note Balance of the Notes and interest accrued on the Notes on the Redemption Date;; and
(ii) the Issuer has paid or caused to be paid all money payable by it under the Transaction Documents; and
(iii) the Issuer Trust has delivered to the Indenture Trustee an Officer’s Certificate and an Opinion of Counsel meeting the requirements of Section 11.3.
Appears in 39 contracts
Samples: Indenture (Verizon Master Trust), Indenture (Verizon Master Trust), Indenture Agreement (Verizon Master Trust)
Conditions to Satisfaction and Discharge. Except as stated in Section 4.1(c), this Indenture will cease to be of further effect for the Notes if:
(i) either (A) the Notes that have been authenticated and delivered (other than (1) Notes that have been destroyed, lost or stolen and that have been replaced or paid under Section 2.7 and (2) Notes for which payment money has been deposited in trust or segregated and held in trust by the Issuer and later paid to the Issuer or discharged from the trust under Section 3.3) have been delivered to the Indenture Trustee for cancellation or (B) the Notes not delivered to the Indenture Trustee for cancellation have become due and payable and the Issuer has deposited or caused to be deposited with the Indenture Trustee money in trust in an amount sufficient to pay and discharge the outstanding principal amount of the Notes and interest accrued on the Notes on the Redemption Date;
(ii) the Issuer has paid or caused to be paid all money payable by it under the Transaction Documents; and
(iii) the Issuer has delivered to the Indenture Trustee an Officer’s Certificate and an Opinion of Counsel meeting the requirements of Section 11.311.4.
Appears in 26 contracts
Samples: Indenture (Ford Credit Auto Lease Trust 2021-B), Indenture (Ford Credit Auto Lease Trust 2021-B), Indenture (Ford Credit Auto Lease Trust 2021-A)
Conditions to Satisfaction and Discharge. Except as stated in Section 4.1(c), this Indenture will cease to be of further effect for the Notes if:
(i) either (A) the Notes that have been authenticated and delivered (other than (1) Notes that have been destroyed, lost or stolen and that have been replaced or paid under Section 2.7 and (2) Notes for which payment money has been deposited in trust or segregated and held in trust by the Issuer and later paid to the Issuer or discharged from the trust under Section 3.3) have been delivered to the Indenture Trustee for cancellation or (B) the Notes not delivered to the Indenture Trustee for cancellation have become due and payable and the Issuer has deposited or caused to be deposited with the Indenture Trustee money in trust in an amount sufficient to pay and discharge the outstanding principal amount Note Balance of the Notes and interest accrued on the Notes on the Redemption Date;
(ii) the Issuer has paid or caused to be paid all money payable by it under the Transaction Documents; and
(iii) the Issuer has delivered to the Indenture Trustee an Officer’s Certificate and an Opinion of Counsel meeting the requirements of Section 11.3.
Appears in 23 contracts
Samples: Omnibus Amendment (Verizon Owner Trust 2020-A), Transfer and Servicing Agreement (Verizon Owner Trust 2020-B), Omnibus Amendment (Verizon Owner Trust 2020-C)
Conditions to Satisfaction and Discharge. Except as stated in Section 4.1(c), this Indenture will cease to be of further effect for the Notes if:
(i) either (A) the Notes that have been authenticated and delivered (other than (1) Notes that have been destroyed, lost or stolen and that have been replaced or paid under Section 2.7 and (2) Notes for which payment money has been deposited in trust or segregated and held in trust by the Issuer and later paid to the Issuer or discharged from the trust under Section 3.3) have been delivered to the Indenture Trustee for cancellation or (B) the Notes not delivered to the Indenture Trustee for cancellation have become due and payable and the Issuer has deposited or caused to be deposited with the Indenture Trustee money in trust in an amount sufficient to pay and discharge the outstanding principal amount of the Notes and interest accrued on the Notes on the Redemption Date;
(ii) the Issuer has paid or caused to be paid all money payable by it under the Transaction Documents; and
(iii) the Issuer has delivered to the Indenture Trustee an Officer’s 's Certificate and an Opinion of Counsel meeting the requirements of Section 11.3.
Appears in 18 contracts
Samples: Indenture (Ford Credit Auto Owner Trust 2024-D), Indenture (Ford Credit Auto Owner Trust 2024-D), Indenture (Ford Credit Auto Receivables Two LLC)
Conditions to Satisfaction and Discharge. Except as stated in Section 4.1(c), this Indenture will cease to be of further effect for the Notes if:
(i) either (A) the Notes that have been authenticated and delivered (other than (1) Notes that have been destroyed, lost or stolen and that have been replaced or paid under Section 2.7 and (2) Notes for which payment money has been deposited in trust or segregated and held in trust by the Issuer and later paid to the Issuer or discharged from the trust under Section 3.3) have been delivered to the Indenture Trustee for cancellation or (B) the Notes not delivered to the Indenture Trustee for cancellation have become due and payable and the Issuer has deposited or caused to be deposited with the Indenture Trustee money in trust in an amount sufficient to pay and discharge the outstanding principal amount of the Notes and interest accrued on the Notes on the Redemption Date;
(ii) the Issuer has paid or caused to be paid all money payable by it under the Transaction Documents; and
(iii) the Issuer has delivered to the Indenture Trustee an Officer’s 's Certificate and an Opinion of Counsel meeting the requirements of Section 11.311.4.
Appears in 13 contracts
Samples: Indenture (Ford Credit Auto Lease Trust 2025-A), Indenture (Ford Credit Auto Lease Trust 2025-A), Indenture (Ford Credit Auto Lease Trust 2024-B)
Conditions to Satisfaction and Discharge. Except as stated in Section 4.1(c), this Indenture will cease to be of further effect for the Notes if:
(i) either (A) the Notes that have been authenticated and delivered (other than (1) Notes that have been destroyed, lost or stolen and that have been replaced or paid under Section 2.7 and (2) Notes for which payment money has been deposited in trust or segregated and held in trust by the Issuer and later paid to the Issuer or discharged from the trust under Section 3.3) have been delivered to the Indenture Trustee for cancellation or (B) the Notes not delivered to the Indenture Trustee for cancellation have become due and payable and the Issuer has deposited or caused to be deposited with the Indenture Trustee money in trust in an amount sufficient to pay and discharge the outstanding principal amount of the Notes and interest accrued on the Notes on the Redemption Date;
(ii) the Issuer has paid or caused to be paid all money payable by it under the Transaction Documents; and
(iii) the Issuer has delivered to the Indenture Trustee an Officer’s Certificate and an Opinion of Counsel meeting the requirements of Section 11.311.1.
Appears in 1 contract