Common use of Distributions Following Acceleration Clause in Contracts

Distributions Following Acceleration. If the Notes are accelerated after an Event of Default, on each Payment Date starting with the Payment Date relating to the Collection Period in which the Notes are accelerated, the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) withdraw from the Bank Accounts and make deposits and payments, to the extent of funds in the Bank Accounts for the related Collection Period, in the following order of priority (pro rata to the Persons within each priority level based on the amounts due except as stated):

Appears in 57 contracts

Samples: Indenture (Ford Credit Auto Owner Trust 2024-C), Indenture (Ford Credit Auto Owner Trust 2024-C), Indenture (Ford Credit Auto Receivables Two LLC)

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Distributions Following Acceleration. If the Notes are accelerated after an Event of Default, on each Payment Date starting with the Payment Date relating to the Collection Period in which the Notes are accelerated, the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) withdraw from the Bank Accounts and make deposits and payments, to the extent of funds in the Bank Accounts for the related Collection Period, in the following order of priority (pro rata to the Persons within each priority level based on the amounts due except as stated):

Appears in 32 contracts

Samples: Indenture (Ford Credit Auto Lease Trust 2024-B), Indenture (Ford Credit Auto Lease Trust 2024-B), Indenture (Ford Credit Auto Lease Trust 2024-A)

Distributions Following Acceleration. If the Notes are accelerated after an Event of Default, on each Payment Date starting with the Payment Date relating to the Collection Period in which the Notes are accelerated, the Indenture Trustee Note Paying Agent will (based on the information in the most recent Monthly Investor Report) withdraw from the Bank Accounts and make deposits and payments, to the extent of funds in the Bank Accounts for the related Collection Period, in the following order of priority (pro rata to the Persons within each priority level based on the amounts due except as stated):

Appears in 16 contracts

Samples: Transfer and Servicing Agreement (Verizon Owner Trust 2020-C), Transfer and Servicing Agreement (Verizon Owner Trust 2020-B), Transfer and Servicing Agreement (Verizon Owner Trust 2020-A)

Distributions Following Acceleration. If the Notes are accelerated after following an Event of Default, then on each Payment Date starting with the Payment Date relating to the Collection Period in which the Notes are acceleratedacceleration occurs, the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) withdraw will make the following withdrawals from the Bank Accounts and make deposits payments and paymentsdistributions on each Payment Date, to the extent of funds in the Bank Accounts for the related Collection Period, Period prior to the Payment Date in the following order of priority (pro rata to the Persons within each priority level based on the amounts due except as stated):

Appears in 5 contracts

Samples: Indenture (Ford Credit Auto Receivables Two LLC), Indenture (Ford Credit Auto Receivables Two LLC), Indenture (Ford Credit Auto Receivables Two LLC)

Distributions Following Acceleration. If the Notes are accelerated after an Event of Default, on each Payment Date starting with the Payment Date relating to the Collection Period in which the Notes are accelerated, the Indenture Trustee Note Paying Agent will (based on the information in the most recent Monthly Investor Report) withdraw from the Bank Accounts and make deposits and payments, to the extent of funds in the Bank Accounts for the related Collection 42 Period, in the following order of priority (pro rata to the Persons within each priority level based on the amounts due except as stated):

Appears in 2 contracts

Samples: Verizon Owner Trust 2020-B, Verizon Owner Trust 2020-B

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Distributions Following Acceleration. If the Notes are accelerated after an Event of Default, on each Payment Date starting with the Payment Date relating to the Collection Period in which the Notes are accelerated, the Indenture Trustee Note Paying Agent will (based on the information in the most recent Monthly Investor Report) withdraw from the Bank Accounts and make deposits and payments, to the extent of funds in the Bank Accounts for the related Collection 44 Period, in the following order of priority (pro rata to the Persons within each priority level based on the amounts due except as stated):

Appears in 2 contracts

Samples: Verizon Owner Trust 2020-A, Verizon Owner Trust 2020-A

Distributions Following Acceleration. If the Notes are accelerated after following an Event of Default, on each Payment Date starting with the Payment Date relating to the Collection Period in which the Notes are acceleratedacceleration occurs, the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) withdraw from the Bank Accounts and make deposits and payments, to the extent of funds in the Bank Accounts for the related Collection Period, in the following order of priority (pro rata to the Persons within each priority level based on the amounts due except as stated):

Appears in 1 contract

Samples: Indenture (CAB East LLC)

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