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Common use of Money for Note Payments to Be Held in Trust Clause in Contracts

Money for Note Payments to Be Held in Trust. (a) As specified in Section 8.03 hereof and in the related Indenture Supplement, all payments of amounts due and payable with respect to the Notes that are to be made from amounts withdrawn from the Collection Account, the Excess Funding Account or any Series Account will be made on behalf of the Issuer by the Indenture Trustee or by the Paying Agent, and no amounts so withdrawn from the Collection Account, the Excess Funding Account or any Series Account may be paid over to or at the direction of the Issuer except as provided in this Section and in the related Indenture Supplement. (b) On or before each Distribution Date, the Issuer will deposit or cause to be deposited into the Collection Account or such applicable Series Account of each outstanding Series an aggregate sum sufficient to pay the amounts then becoming due under the Notes of such outstanding Series, such sum to be held in trust for the benefit of the Persons entitled thereto, and (unless the Paying Agent is the Indenture Trustee) will promptly notify the Indenture Trustee in writing of its action or failure so to act.

Appears in 2 contracts

Samples: Indenture (Ford Credit Floorplan Corp), Indenture (Ford Credit Floorplan LLC)

Money for Note Payments to Be Held in Trust. (a) As specified in Section 8.03 hereof 8.3 herein and in the related Indenture Supplement, all payments of amounts due and payable with respect to the Notes that which are to be made from amounts withdrawn from the Collection Account, the Excess Funding Account or any Series Account will shall be made on behalf of the Issuer by the Indenture Trustee or by the Paying Agent, and no amounts so withdrawn from the Collection Account, the Excess Funding Account or any Series Account may shall be paid over to or at the direction of the Issuer except as provided in this Section and Indenture or in the related Indenture Supplement. (b) On or before the Business Day prior to each Distribution Payment Date, in accordance with Section 8.4, the Issuer will shall deposit or cause to be deposited into in the Collection Account or such applicable Series Account Account, specified in the related Indenture Supplement, of each outstanding Series an aggregate sum sufficient to pay the amounts then becoming due under the Notes of such outstanding Series, such sum to be held in trust the Series Account for the benefit of the Persons entitled thereto, and (unless the Paying Agent is the Indenture Trustee) will shall promptly notify the Indenture Trustee in writing of its action or failure so to act.

Appears in 1 contract

Samples: Master Indenture (United States Cellular Corp)

Money for Note Payments to Be Held in Trust. (a) As specified in Section 8.03 hereof 8.03(a) and (b) herein and in the related Indenture Supplement, all payments of amounts due and payable with respect to the Notes that which are to be made from amounts withdrawn from the Collection Account, Account and the Excess Special Funding Account or any Series Account will shall be made on behalf of the Issuer by the Indenture Trustee or by the Paying Agent, and no amounts so withdrawn from the Collection Account, Account or the Excess Special Funding Account or any Series Account may shall be paid over to or at the direction of the Issuer except as provided in this Section and in the related Indenture Supplement. (b) . On or before each Distribution Date, in accordance with Section 8.04 the Issuer will shall deposit or cause to be deposited into in the Collection Account or such applicable Series Account Account, specified in the related Indenture Supplement, of each outstanding Series an aggregate sum sufficient to pay the amounts then becoming due under the Notes of such outstanding Series, such sum to be held in trust for the benefit of the Persons entitled thereto, and (unless the Paying Agent is the Indenture Trustee) will promptly notify the Indenture Trustee in writing of its action or failure so to act.Agent

Appears in 1 contract

Samples: Master Indenture (Hrsi Funding Inc Ii)

Money for Note Payments to Be Held in Trust. (a) As specified in Section 8.03 hereof herein and in the related Indenture Supplement, all payments of amounts due and payable with respect to the Notes that are to be made from amounts withdrawn from the Collection Account, Account and the Excess Funding Account or any Series Account will be made on behalf of the Issuer by the Indenture Trustee or by the Paying Agent, and no amounts so withdrawn from the Collection Account, Account or the Excess Funding Account or any Series Account may be paid over to or at the direction of the Issuer except as provided in this Section and in the related Indenture Supplement. (b) On or before each Distribution Date, the Issuer will deposit or cause to be deposited into in the Collection Account or such applicable Series Distribution Account of each outstanding Series an aggregate sum sufficient to pay the amounts then becoming due under the Notes of such outstanding Series, such sum to be held in trust for the benefit of the Persons entitled thereto, and (unless the Paying Agent is the Indenture Trustee) will promptly notify the Indenture Trustee in writing of its action or failure so to act.

Appears in 1 contract

Samples: Indenture (Ford Credit Auto Receivables LLC)