Common use of Excess Amounts Clause in Contracts

Excess Amounts. On any Payment Date, to the extent the sum of the amount on deposit in the Reserve Account plus the amount available under any Letter of Credit exceeds the Required Reserve Amount on any Payment Date, the amount of such excess may be released from the Reserve Account and paid to the Class R Interest on such Payment Date.

Appears in 39 contracts

Samples: Indenture (Verizon Master Trust), Indenture (Verizon Master Trust), Indenture (Verizon Master Trust)

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Excess Amounts. On any Payment Date, to the extent [the sum of of] the amount on deposit in the Reserve Account [plus the amount available under any [the][any] Letter of Credit Credit] exceeds the Required Reserve Amount on any Payment Date, the amount of such excess may be released from the Reserve Account and paid to [the Class R Interest Interest] on such Payment Date.

Appears in 2 contracts

Samples: Indenture Agreement (Verizon Master Trust), Indenture Agreement (Verizon Master Trust)

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