Note Interest with respect to the Series 2007-1 Notes Sample Clauses

Note Interest with respect to the Series 2007-1 Notes. On each Reporting Date, the Master Servicer or the Series 2007-1 Insurer, as applicable, shall instruct the Trustee to withdraw on the next succeeding Payment Date from amounts on deposit in the Series 2007-1 Accrued Interest Account as a result of the allocations, drawings and withdrawals under Section 4.7 hereof, and deposit in the Series 2007-1 Distribution Account the lesser of (i) the amount on deposit in the Series 2007-1 Accrued Interest Account and (ii) the Series 2007-1 Interest Amount. The amount on deposit in the Series 2007-1 Accrued Interest Account, after taking into account any funds available therein from the Series 2007-1 Cash Liquidity Account, if any (following the establishment thereof pursuant to Section 4.18 of this Supplement), the Series 2007-1 Excess Funding Account in excess of the Cash Liquidity Amount, if any, and the Substitute Group IV Exchanged Vehicle Proceeds Amount, if any, claims made under the Demand Note, proceeds of draws on the Series 2007-1 Letter of Credit or withdrawals from the Series 2007-1 Cash Collateral Account, as the case may be, in each case, applied as described in Section 4.9 of this Supplement, shall be withdrawn by the Trustee on the following Payment Date and deposited in the Series 2007-1 Distribution Account and, in accordance with Section 5.1 of the Base Indenture, used to pay, first to the Series 2007-1 Insurer, an amount equal to the Series 2007-1 Insurer Payment; second to the Series 2007-1 Noteholders, pro rata, an amount equal to the Series 2007-1 Accrued Interest Amount; and third to the Series 2007-1 Insurer, an amount equal to the Series 2007-1 Insurer Reimbursement Amount, in each case, for such Payment Date.
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Related to Note Interest with respect to the Series 2007-1 Notes

  • Obligation of the Master Servicer in Respect of Prepayment Interest Shortfalls In the event of any Prepayment Interest Shortfalls, the Master Servicer shall deposit into the Distribution Account not later than the related Distribution Date an amount equal to the lesser of (i) the aggregate amounts required to be paid by the Servicer with respect to Prepayment Interest Shortfalls attributable to Principal Prepayments in full on the Mortgage Loans for the related Distribution Date, and not so paid by the Servicer and (ii) the aggregate amount of the compensation payable to the Master Servicer for such Distribution Date in accordance with Section 4.13, without reimbursement therefor.

  • Obligations of the Master Servicer in Respect of Prepayment Interest Shortfalls The Master Servicer shall deliver to the Trustee for deposit into the Distribution Account on or before 3:00 p.m. New York time on the Master Servicer Remittance Date from its own funds an amount equal to the lesser of (i) the aggregate of the Prepayment Interest Shortfalls for the related Distribution Date resulting solely from Principal Prepayments during the related Prepayment Period and (ii) the amount of its aggregate Servicing Fee for the most recently ended calendar month.

  • Designation of Additional Amounts to Be Included in the Excess Spread Amount for the DiscoverSeries Notes At any time that any outstanding Series of certificates issued by the Master Trust provides that the Series Principal Collections allocated to such Series will be deposited into the Group Finance Charge Collections Reallocation Account for the Master Trust to the extent necessary for application to cover shortfalls for other Series issued by the Master Trust, an amount equal to (x) all Series Principal Collections allocated to such Series, multiplied by (y) a fraction, the numerator of which is the sum of the Nominal Liquidation Amounts for each outstanding Tranche of the DiscoverSeries Notes (including these notes) and the denominator of which is (i) the Aggregate Investor Interest for the Master Trust minus (ii) the sum of the Series Investor Interests for all such Series that provide that the Series Principal Collections allocated to such Series will be so deposited, is hereby designated to be included in the Excess Spread Amount and shall be treated as Series Finance Charge Amounts for the DiscoverSeries.

  • COLLECTION OF PAYMENTS WITH RESPECT TO THE MORTGAGE LOANS The Indenture Trustee shall establish and maintain with itself the Note Payment Account in which the Indenture Trustee shall, subject to the terms of this paragraph, deposit, on the same day as it is received from the Servicer, each remittance received by the Indenture Trustee with respect to the Mortgage Loans. The Indenture Trustee shall make all payments of principal of and interest on the Notes, subject to Section 3.03 as provided in Section 3.05 herein from monies on deposit in the Note Payment Account.

  • of the Series Supplement The REMIC Administrator and the Trustee shall not permit the creation of any "interests" (within the meaning of Section 860G of the Code) in any REMIC elected in respect of the Trust Fund other than the "regular interests" and "residual interests" so designated.

  • REMIC Certificate Maturity Date Solely for purposes of satisfying Section 1.860G-1(a)(4)(iii) of the Treasury Regulations, the "latest possible maturity date" of the regular interests in the Upper-Tier REMIC, Middle-Tier REMIC and Lower-Tier REMIC is October 25, 2035.

  • First USA Series Supplement The Amended and Restated Series 2002-CC Supplement, dated as of October 15, 2004, between the Bank, as Transferor and Servicer, and the FUSA Master Trust Trustee.

  • Designation Amount and Issue of Notes The Notes shall be designated as “Tranche B Zero Coupon Guaranteed Senior Unsecured Notes”. Notes not to exceed the aggregate principal amount of $84,000,000 (except pursuant to Sections 2.05 and 2.06 hereof) upon the execution of this Indenture, or from time to time thereafter, may be executed by the Company and delivered to the Trustee for authentication, and the Trustee shall thereupon authenticate and deliver said Notes to or upon the written order of the Company, signed by its Chairman of the Board, Chief Executive Officer, President or any Vice President (whether or not designated by a number or numbers or word or words added before or after the title “Vice President”), the Treasurer or any Assistant Treasurer or the Secretary or Assistant Secretary, without any further action by the Company hereunder.

  • Additional Obligations With Respect to Certain Mortgage Loans (a) With respect to each Mortgage Loan (other than an Outside Serviced Mortgage Loan) with a Stated Principal Balance in excess of $35,000,000, in connection with any replacement of the Manager for the related Mortgaged Property, the Master Servicer or Special Servicer, as applicable, to the extent permitted by the related Loan Documents, shall require a Rating Agency Confirmation and shall condition its consent to such replacement on the Mortgagor paying for such Rating Agency Confirmation.

  • Simple Interest Mortgage Loans None of the Mortgage Loans are simple interest Mortgage Loans.

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