Common use of Form of Prepayment Notice Clause in Contracts

Form of Prepayment Notice. Notice of prepayment under Section 10.1 shall be given by the Indenture Trustee by first-class mail, postage prepaid, or by facsimile mailed or transmitted promptly following receipt of notice from the Issuer or Servicer pursuant to Section 10.1, but not later than thirty (30) days prior to the applicable Prepayment Date, to each Noteholder as of the close of business on the Record Date preceding the applicable Prepayment Date, at such Noteholder's address or facsimile number appearing in the Note Register. All notices of prepayment shall state: (i) the Prepayment Date; (ii) the Prepayment Price; (iii) the place where such Notes are to be surrendered for payment of the Prepayment Price (which shall be the office or agency of the Issuer to be maintained as provided in Section 3.2); and (iv) that on the Prepayment Date, the Prepayment Price will become due and payable upon each such Note and that interest thereon shall cease to accrue for and after said date. Notice of prepayment of the Notes shall be given by the Indenture Trustee in the name and at the expense of the Issuer. Failure to give notice of prepayment, or any defect therein, to any Noteholder shall not impair or affect the validity of the prepayment of any other Note.

Appears in 19 contracts

Samples: Indenture (Usaa Acceptance LLC), Indenture (Usaa Auto Owner Trust 2005-1), Indenture (Usaa Auto Owner Trust 2003-1)

AutoNDA by SimpleDocs

Form of Prepayment Notice. Notice of prepayment under Section 10.1 shall be given by the Indenture Trustee by first-class mail, postage prepaid, or by facsimile mailed or transmitted promptly following receipt of notice from the Issuer or Servicer pursuant to Section 10.1, but not later than thirty (30) days prior to the applicable Prepayment Date, to each Noteholder as of the close of business on the Record Date preceding the applicable Prepayment Date, at such Noteholder's address or facsimile number appearing in the Note Register. All notices of prepayment shall state: (i) the Prepayment Date; (ii) the Prepayment Price; (iii) the place where such Notes are to be surrendered for payment of the Prepayment Price (which shall be the office or agency of the Issuer to be maintained as provided in Section 3.2); and (iv) that on the Prepayment Date, the Prepayment Price will become due and payable upon each such Note and that interest thereon shall cease to accrue for and after said date. Notice of prepayment of the Notes shall be given by the Indenture Trustee in the name and at the expense of the Issuer. Failure to give notice of prepayment, or any defect therein, to any Noteholder shall not impair or affect the validity of the prepayment of any other Note.

Appears in 3 contracts

Samples: Indenture (Usaa Auto Owner Trust 2004-3), Indenture (Usaa Federal Savings Bank), Indenture (Usaa Acceptance LLC)

Form of Prepayment Notice. Notice of prepayment under Section 10.1 shall be given by the Indenture Trustee by first-class mail, postage prepaid, or by facsimile mailed or transmitted promptly following receipt of notice from the Issuer or Servicer pursuant to Section 10.1, but not later than thirty (30) days prior to the applicable Prepayment Date, to each Noteholder as of the close of business on the Record Date preceding the applicable Prepayment Date, at such Noteholder's ’s address or facsimile number appearing in the Note Register. All notices of prepayment shall state: (i) the Prepayment Date; (ii) the Prepayment Price; (iii) the place where such Notes are to be surrendered for payment of the Prepayment Price (which shall be the office or agency of the Issuer to be maintained as provided in Section 3.2); and (iv) that on the Prepayment Date, the Prepayment Price will become due and payable upon each such Note and that interest thereon shall cease to accrue for and after said date. Notice of prepayment of the Notes shall be given by the Indenture Trustee in the name and at the expense of the Issuer. Failure to give notice of prepayment, or any defect therein, to any Noteholder shall not impair or affect the validity of the prepayment of any other Note.

Appears in 3 contracts

Samples: Indenture (USAA Auto Owner Trust 2007-2), Indenture (USAA Auto Owner Trust 2008-1), Indenture (USAA Auto Owner Trust 2007-1)

Form of Prepayment Notice. Notice of prepayment under Section 10.1 shall be given by the Indenture Trustee by first-class mail, postage prepaid, or by facsimile mailed or transmitted promptly following receipt of notice from the Issuer or the Servicer pursuant to Section 10.1, but not later than thirty (30) days prior to the applicable Prepayment Datethree Business Days after it has received such notice, to each Noteholder as of the close of business on the Record Date preceding the applicable Prepayment Date, at such Noteholder's address or facsimile number appearing in the Note Register. All notices of prepayment shall state: (i) the Prepayment Date; (ii) the Prepayment Price; (iii) the place where such Notes are to be surrendered for payment of the Prepayment Price (which shall be the office or agency of the Issuer to be maintained as provided in Section 3.2); and (iv) that on the Prepayment Date, the Prepayment Price will become due and payable upon each such Note and that interest thereon shall cease to accrue for and after said date. Notice of prepayment of the Notes shall be given by the Indenture Trustee in the name and at the expense of the Issuer. Failure to give notice of prepayment, or any defect therein, to any Noteholder shall not impair or affect the validity of the prepayment of any other Note.

Appears in 1 contract

Samples: Indenture (Bear Stearns Asset Backed Whole Auto Loan Trust 2003-1)

AutoNDA by SimpleDocs

Form of Prepayment Notice. Notice of prepayment under Section 10.1 shall be given by the Indenture Trustee Securities Administrator by first-class mail, postage prepaid, or by facsimile mailed or transmitted promptly following receipt of notice from the Issuer or the Master Servicer pursuant to Section 10.1, but not later than thirty (30) days prior to the applicable Prepayment Datethree Business Days after it has received such notice, to each Noteholder as of the close of business on the Record Date preceding the applicable Prepayment Date, at such Noteholder's address or facsimile number appearing in the Note Register. All notices of prepayment shall state: (i) the Prepayment Date; (ii) the Prepayment Price; (iii) the place where such Notes are to be surrendered for payment of the Prepayment Price (which shall be the office or agency of the Issuer to be maintained as provided in Section 3.2); and (iv) that on the Prepayment Date, the Prepayment Price will become due and payable upon each such Note and that interest thereon shall cease to accrue for and after said date. Notice of prepayment of the Notes shall be given by the Indenture Trustee Securities Administrator in the name and at the expense of the Issuer. Failure to give notice of prepayment, or any defect therein, to any Noteholder shall not impair or affect the validity of the prepayment of any other Note.

Appears in 1 contract

Samples: Indenture (Merrill Auto Trust Securitization 2005-1)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!