Common use of During Rapid Amortization Period Clause in Contracts

During Rapid Amortization Period. Immediately upon the commencement of a Rapid Amortization Period for the 2005-A Certificates, the Indenture Trustee shall withdraw any amounts held in the 2005-A Certificate Cash Accumulation Account (other than Investment Proceeds thereon) and transfer such amounts to the Trust for deposit into the Certificate Distribution Account; and on each day during the Rapid Amortization Period for the 2005-A Certificates, after the Fully Funded Date for all outstanding series of Term Notes and Revolving Notes has occurred, all Available Trust Principal allocated to the Certificates on such day pursuant to the applicable clause of Section 4.5(d) of the Trust Sale and Servicing Agreement will be deposited in the Certificate Distribution Account with respect to the 2005-A Certificates. All amounts so allocated during a Rapid Amortization Period will be distributed to the Holders of the 2005-A Certificates on the related Monthly Distribution Date.

Appears in 2 contracts

Samples: Superior Wholesale Inventory Financing Trust Xi, Superior Wholesale Inventory Financing Trust Xii

AutoNDA by SimpleDocs

During Rapid Amortization Period. Immediately upon the commencement of a Rapid Amortization Period for the 20052004-A Certificates, the Indenture Trustee shall withdraw any amounts held in the 20052004-A Certificate Cash Accumulation Account (other than Investment Proceeds thereon) and transfer such amounts to the Trust for deposit into the Certificate Distribution Account; and on each day during the Rapid Amortization Period for the 20052004-A Certificates, after the Fully Funded Date for all outstanding series of Term Notes and Revolving Notes has occurred, all Available Trust Principal allocated to the Certificates on such day pursuant to the applicable clause of Section 4.5(d) of the Trust Sale and Servicing Agreement will be deposited in the Certificate Distribution Account with respect to the 20052004-A Certificates. All amounts so allocated during a Rapid Amortization Period will be distributed to the Holders of the 20052004-A Certificates on the related Monthly Distribution Date.

Appears in 1 contract

Samples: Superior Wholesale Inventory Financing Trust X

AutoNDA by SimpleDocs

During Rapid Amortization Period. Immediately upon the commencement of a Rapid Amortization Period for the 2005-A [•] Certificates, the Indenture Trustee shall withdraw any amounts held in the 2005-A [•] Certificate Cash Accumulation Account (other than Investment Proceeds thereon) and transfer such amounts to the Trust for deposit into the Certificate Distribution Account; and on each day during the Rapid Amortization Period for the 2005-A [•] Certificates, after the Fully Funded Date for all outstanding series of Term Notes and Revolving Notes has occurred, all Available Trust Principal allocated to the Certificates on such day pursuant to the applicable clause of Section 4.5(d) of the Trust Sale and Servicing Agreement will be deposited in the Certificate Distribution Account with respect to the 2005-A [•] Certificates. All amounts so allocated during a Rapid Amortization Period will be distributed to the Holders of the 2005-A [•] Certificates on the related Monthly Distribution Date.

Appears in 1 contract

Samples: Trust Agreement (Wholesale Auto Receivables Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.