Common use of Issuance Fund Clause in Contracts

Issuance Fund. On the Closing Date there shall be deposited into the Issuance Fund an amount equal to (a) the gross proceeds from the sale of the Class A Notes and Class B Notes plus (b) the Costs of Issuance of the offering of the Notes and the Initial Reserve Fund Deposit to be supplied by the Seller. The amounts on deposit in the Issuance Fund shall be paid or transferred on the Closing Date (i) to the Reserve Fund, an amount equal to the Initial Reserve Fund Deposit, (ii) to the Pre-Funding Account, the amount of $0, (iii) to the Persons and in the amounts set forth in an Officers' Certificate of the Owner Trustee stating the Costs of Issuance of the Notes, and (iv) at the direction of the Owner Trustee, to the lienholders, the amounts required to pay off existing lienholders with respect to the Receivables Granted to the Indenture Trustee on the Closing Date pursuant to the terms hereof. Subsequent to the disbursement of all funds initially deposited into the Issuance Fund, the Issuance Fund shall be terminated and closed. Any amounts estimated for disbursement as Costs of Issuance hereunder and not so disbursed shall, at the written direction of the Seller, be disbursed by the Indenture Trustee to the Seller.

Issuance Fund. On the Closing Date there shall be deposited into the Issuance Fund an amount equal to (a) the gross proceeds from the sale of the Class A Notes and Class B Notes plus (b) the Costs of Issuance of the offering of the Notes and the Initial Reserve Fund Deposit to be supplied by the Seller. The amounts on deposit in the Issuance Fund shall be paid or transferred on the Closing Date (i) to the Reserve Fund, an amount equal to the Initial Reserve Fund Deposit, (ii) to the Pre-Funding Account, the amount of $0111,590,087.39, (iii) to the Persons and in the amounts set forth in an Officers' Certificate of the Owner Trustee stating the Costs of Issuance of the Notes, and (iv) at the direction of the Owner Trustee, to the lienholders, the amounts required to pay off existing lienholders with respect to the Receivables Granted to the Indenture Trustee on the Closing Date pursuant to the terms hereof. Subsequent to the disbursement of all funds initially deposited into the Issuance Fund, the Issuance Fund shall be terminated and closed. Any amounts estimated for disbursement as Costs of Issuance hereunder and not so disbursed shall, at the written direction of the Seller, be disbursed by the Indenture Trustee to the Seller.

Issuance Fund. On the Closing Date there shall be deposited into the Issuance Fund an amount equal to (a) the gross proceeds from the sale of the Class A Notes and Class B Notes plus (b) the Costs of Issuance of the offering of the Notes and the Initial Reserve Fund Deposit to be supplied by the Seller. The amounts on deposit in the Issuance Fund shall be paid or transferred on the Closing Date (i) to the Reserve Fund, an amount equal to the Initial Reserve Fund Deposit, (ii) to the Pre-Funding Account, the amount of $0328,919,116.16, (iii) to the Persons and in the amounts set forth in an Officers' Certificate of the Owner Trustee stating the Costs of Issuance of the Notes, and (iv) at the direction of the Owner Trustee, to the lienholders, the amounts required to pay off existing lienholders with respect to the Receivables Granted to the Indenture Trustee on the Closing Date pursuant to the terms hereof. Subsequent to the disbursement of all funds initially deposited into the Issuance Fund, the Issuance Fund shall be terminated and closed. Any amounts estimated for disbursement as Costs of Issuance hereunder and not so disbursed shall, at the written direction of the Seller, be disbursed by the Indenture Trustee to the Seller.

Issuance Fund. On the Closing Date there shall be deposited into the Issuance Fund an amount equal to (a) the gross proceeds from the sale of the Class A Notes and Class B Notes plus (b) the Costs of Issuance of the offering of the Notes and the Initial Reserve Fund Deposit to be supplied by the Seller. The amounts on deposit in the Issuance Fund shall be paid or transferred on the Closing Date (i) to the Reserve Fund, an amount equal to the Initial Reserve Fund Deposit, (ii) to the Pre-Funding Account, the amount of $0208,157,359.86, (iii) to the Persons and in the amounts set forth in an Officers' Certificate of the Owner Trustee stating the Costs of Issuance of the Notes, and (iv) at the direction of the Owner Trustee, to the lienholders, the amounts required to pay off existing lienholders with respect to the Receivables Granted to the Indenture Trustee on the Closing Date pursuant to the terms hereof. Subsequent to the disbursement of all funds initially deposited into the Issuance Fund, the Issuance Fund shall be terminated and closed. Any amounts estimated for disbursement as Costs of Issuance hereunder and not so disbursed shall, at the written direction of the Seller, be disbursed by the Indenture Trustee to the Seller.

Issuance Fund. On the Closing Date there shall be deposited into the Issuance Fund an amount equal to (a) the gross proceeds from the sale of the Class A Notes and Class B Notes plus (b) the Costs of Issuance of the offering of the Notes and the Initial Reserve Fund Deposit to be supplied by the Seller. The amounts on deposit in the Issuance Fund shall be paid or transferred on the Closing Date (i) to the Reserve Fund, an amount equal to the Initial Reserve Fund Deposit, (ii) to the Pre-Funding Account, the amount of $0241,898,324.88, (iii) to the Persons and in the amounts set forth in an Officers' Certificate of the Owner Trustee Issuer stating the Costs of Issuance of the Notes, and (iv) at the direction of the Owner TrusteeIssuer, to the lienholders, the amounts required to pay off existing lienholders with respect to the Receivables Granted to the Indenture Trustee on the Closing Date pursuant to the terms hereof. Subsequent to the disbursement of all funds initially deposited into the Issuance Fund, the Issuance Fund shall be terminated and closed. Any amounts estimated for disbursement as Costs of Issuance hereunder and not so disbursed shall, at the written direction of the Seller, be disbursed by the Indenture Trustee to the Seller.