Common use of DISTRIBUTIONS OF INTEREST AND PRINCIPAL Clause in Contracts

DISTRIBUTIONS OF INTEREST AND PRINCIPAL. The Indenture Trustee shall make distributions from and to the several Trust Accounts in the manner provided for in Section 5.5 of the Transfer and Servicing Agreement, as such Section may be amended from time to time. All principal payments of Notes of any Class shall be made pro rata to the Holders of Notes of such Class. No later than each Determination Date, the Master Servicer shall compute the Principal Factor of each Class of Series 1997-2 Notes for the upcoming Distribution Date and shall

Appears in 1 contract

Samples: Indenture (PNC Student Loan Trust I)

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DISTRIBUTIONS OF INTEREST AND PRINCIPAL. The Indenture Trustee shall make distributions from and to the several Trust Accounts in the manner provided for in Section 5.5 of the Transfer and Servicing Agreement, as such Section may be amended from time to time. All principal payments of Notes of any Class shall be made pro rata to the Holders of Notes Noteholders of such Class. No later than each Distribution Determination Date, the Master Servicer shall compute the Principal Factor of each Class of Series 1997-2 Notes for the upcoming Distribution Date and shallshall notify the Indenture Trustee in writing of such Principal Factors.

Appears in 1 contract

Samples: Indenture (Crestar Bank /Va)

DISTRIBUTIONS OF INTEREST AND PRINCIPAL. The Indenture Trustee shall make distributions from and to the several Trust Accounts in the manner provided for in Section 5.5 of the Transfer and Servicing Agreement, as such Section may be amended from time to time. All principal payments of Notes of any Class shall be made pro rata to the Holders of Notes of such Class. No later than each Determination Date, the Master Servicer shall compute the Principal Factor of each Class of Series 1997-2 Notes for the upcoming Distribution Date and shallshall notify the Indenture Trustee in writing of such Principal Factors.

Appears in 1 contract

Samples: Indenture (Crestar Bank /Va)

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DISTRIBUTIONS OF INTEREST AND PRINCIPAL. The Indenture Trustee shall make distributions from and to the several Trust Accounts in the manner provided for in Section 5.5 of the Transfer and Servicing Agreement, as such Section may be amended from time to time. All principal payments of Notes of any Class shall be made pro rata to the Holders of Notes of such Class. No later than each Determination Date, the Master Servicer shall compute the Principal Factor of each Class of Series 1997-2 Notes for the upcoming Distribution Date and shallshall notify the Indenture Trustee of such Principal Factors.

Appears in 1 contract

Samples: Indenture (PNC Bank National Association/)

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