Common use of New Loan Clause in Contracts

New Loan. (a) The Credit Enhancement Provider hereby makes the New Loan to the Trust, for the benefit of the Investor Certificateholders of the Series, on the date of this Agreement in an amount equal to $47,426,758, receipt of which is hereby acknowledged by the Trustee. (b) On the date hereof, an amount equal to the proceeds of the New Loan made by the Credit Enhancement Provider pursuant to Section 2(a) hereof shall be withdrawn from the Credit Enhancement Account and paid by the Trustee to Greenwood on behalf of the Holder of the Seller Certificate.

Appears in 1 contract

Samples: Credit Enhancement Agreement (Discover Card Master Trust I)

AutoNDA by SimpleDocs

New Loan. (a) The Credit Enhancement Provider hereby makes the New Loan to the Trust, for the benefit of the Investor Certificateholders of the Series, on the date of this Agreement in an amount equal to $47,426,75851,946,537.04, receipt of which is hereby acknowledged by the Trustee. (b) On the date hereof, an amount equal to the proceeds of the New Loan made by the Credit Enhancement Provider pursuant to Section 2(a) hereof shall be withdrawn from the Credit Enhancement Account and paid by the Trustee to Greenwood on behalf of the Holder of the Seller Certificate.

Appears in 1 contract

Samples: Credit Enhancement Agreement (Discover Card Master Trust I)

New Loan. (a) The Credit Enhancement Provider hereby makes the New Loan to the Trust, for the benefit of the Investor Certificateholders of the Series, on the date of this Agreement in an amount equal to $47,426,75844,736,850, receipt of which is hereby acknowledged by the Trustee. (b) On the date hereof, an amount equal to the proceeds of the New Loan made by the Credit Enhancement Provider pursuant to Section 2(a) hereof shall be withdrawn from the Credit Enhancement Account and paid by the Trustee to Greenwood on behalf of the Holder of the Seller Certificate.

Appears in 1 contract

Samples: Credit Enhancement Agreement (Discover Card Master Trust I)

New Loan. (a) The Credit Enhancement Provider hereby makes the New Loan to the Trust, for the benefit of the Investor Certificateholders of the Series, on the date of this Agreement in an amount equal to $47,426,75825,751,232.01, receipt of which is hereby acknowledged by the Trustee. (b) On the date hereof, an amount equal to the proceeds of the New Loan made by the Credit Enhancement Provider pursuant to Section 2(a) hereof shall be withdrawn from the Credit Enhancement Account and paid by the Trustee to Greenwood on behalf of the Holder of the Seller Certificate.

Appears in 1 contract

Samples: Credit Enhancement Agreement (Discover Card Master Trust I)

New Loan. (a) The Credit Enhancement Provider hereby makes the New Loan to the Trust, for the benefit of the Investor Certificateholders of the Series, on the date of this Agreement in an amount equal to $47,426,758, 39,473,700 receipt of which is hereby acknowledged by the Trustee. (b) On the date hereof, an amount equal to the proceeds of the New Loan made by the Credit Enhancement Provider pursuant to Section 2(a) hereof shall be withdrawn from the Credit Enhancement Account and paid by the Trustee to Greenwood on behalf of the Holder of the Seller Certificate.

Appears in 1 contract

Samples: Credit Enhancement Agreement (Discover Card Master Trust I)

AutoNDA by SimpleDocs

New Loan. (a) The Credit Enhancement Provider hereby makes the New Loan to the Trust, for the benefit of the Investor Certificateholders of the Series, on the date of this Agreement Agreement, in an amount equal to $47,426,75821,052,640, receipt of which is hereby acknowledged by the Trustee. (b) On the date hereof, an amount equal to the proceeds of the New Loan made by the Credit Enhancement Provider pursuant to Section 2(a) hereof shall be withdrawn from the Credit Enhancement Account and paid by the Trustee to Greenwood on behalf of the Holder of the Seller Certificate.

Appears in 1 contract

Samples: Credit Enhancement Agreement (Discover Card Master Trust I)

New Loan. (a) The Credit Enhancement Provider hereby makes the New Loan to the Trust, for the benefit of the Investor Certificateholders of the Series, on the date of this Agreement in an amount equal to $47,426,75836,656,107.00, receipt of which is hereby acknowledged by the Trustee. (b) On the date hereof, an amount equal to the proceeds of the New Loan made by the Credit Enhancement Provider pursuant to Section 2(a) hereof shall be withdrawn from the Credit Enhancement Account and paid by the Trustee to Greenwood on behalf of the Holder of the Seller Certificate.

Appears in 1 contract

Samples: Credit Enhancement Agreement (Discover Card Master Trust I)

New Loan. (a) The Credit Enhancement Provider hereby makes the New Loan to the Trust, for the benefit of the Investor Certificateholders of the Series, on the date of this Agreement in an amount equal to $47,426,7584,705,506.22, receipt of which is hereby acknowledged by the Trustee. (b) On the date hereof, an amount equal to the proceeds of the New Loan made by the Credit Enhancement Provider pursuant to Section 2(a) hereof shall be withdrawn from the Credit Enhancement Account and paid by the Trustee to Greenwood on behalf of the Holder of the Seller Certificate.

Appears in 1 contract

Samples: Credit Enhancement Agreement (Discover Card Master Trust I)

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