Common use of Distributions Under Indenture; Method of Payment Clause in Contracts

Distributions Under Indenture; Method of Payment. Before the satisfaction and discharge of the Indenture, all distributions of Trust Property, including any distributions to the Certificateholders, will be deposited into the Certificate Distribution Account according to Article VIII of the Indenture and will be distributed on each Payment Date to the Certificateholders pursuant to the priorities listed below. In addition, on each Payment Date, (i) investment earnings (net of losses and investment expenses) on the Collection Account, the Acquisition Account, the Reserve Account and the Negative Carry Account, as set forth in Section 4.2(e) of the Transfer and Servicing Agreement, (ii) Collections relating to Temporarily Excluded Receivables, (iii) amounts released from the Negative Carry Account pursuant to Section 4.4(c)(iii) of the Transfer and Servicing Agreement and (iv) amounts released from the Acquisition Account pursuant to Section 4.4(d)(iii) of the Transfer and Servicing Agreement will be deposited into the Certificate Distribution Account and subsequently will be distributed to the Certificateholders in the following order of priority:

Appears in 14 contracts

Samples: Trust Agreement (Verizon Owner Trust 2020-C), Trust Agreement (Verizon Owner Trust 2020-C), Trust Agreement (Verizon Owner Trust 2020-B)

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Distributions Under Indenture; Method of Payment. Before the satisfaction and discharge of the Indenture, all distributions of Trust Property, including any distributions to the Certificateholders, will be deposited into the Certificate Distribution Account according to Article VIII of the Indenture and will be distributed on each Payment Date to the Certificateholders pursuant to the priorities listed below. In addition, on each Payment Date, (i) investment earnings (net of losses and investment expenses) on the Collection Account, the Acquisition Account, the Reserve Account and the Negative Carry Acquisition Account, as set forth in Section 4.2(e) of the Transfer and Servicing Agreement, (ii) Collections relating to Temporarily Excluded Receivables, (iii) amounts released from the Negative Carry Account pursuant to Section 4.4(c)(iii) of the Transfer and Servicing Agreement and (iv) amounts released from the Acquisition Account pursuant to Section 4.4(d)(iii) of the Transfer and Servicing Agreement will be deposited into the Certificate Distribution Account and subsequently will be distributed to the Certificateholders in the following order of priority:

Appears in 1 contract

Samples: Trust Agreement (Verizon ABS LLC)

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Distributions Under Indenture; Method of Payment. Before the satisfaction and discharge of the Indenture, all distributions of Trust Property, including any distributions to the Certificateholders, will be deposited into the Certificate Distribution Account according to Article VIII of the Indenture and will be distributed on each Payment Date to the Certificateholders pursuant to the priorities listed below. In addition, on each Payment Date, (i) investment earnings (net of losses and investment expenses) on the Collection AccountAccount , the Acquisition Account, Account and the Reserve Account and the Negative Carry Account, as set forth in Section 4.2(e) of the Transfer and Servicing Agreement, (ii) Collections relating to Temporarily Excluded Receivables, (iii) amounts released from the Negative Carry Account pursuant to Section 4.4(c)(iii) of the Transfer and Servicing Agreement and (iv) amounts released from the Acquisition Account pursuant to Section 4.4(d)(iii) of the Transfer and Servicing Agreement will be deposited into the Certificate Distribution Account and subsequently will be distributed to the Certificateholders in the following order of priority:

Appears in 1 contract

Samples: Trust Agreement (Verizon ABS LLC)

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