Common use of Note Payment Account Clause in Contracts

Note Payment Account. (a) Pursuant to Section 4.01, the Trustee shall establish and maintain the Note Payment Account which shall be an Eligible Account, for the benefit of the Noteholders and the Note Insurer. The Note Payment Account shall be funded to the extent that (x) the Issuer shall remit the Redemption Amount pursuant to Section 11.02, (y) the Note Insurer shall remit any required payment pursuant to the Policy, or (z) the Trustee shall remit the Available Funds from the Collection Account pursuant to Section 4.03.

Note Payment Account. (a) Pursuant to Section 4.01, the Trustee shall establish and maintain the Note Payment Account which shall be an Eligible Account, for the benefit of the Noteholders and the Note Insurer. The Note Payment Account shall be funded to the extent that (xw) the Issuer shall remit the Redemption Amount pursuant to Section 11.0210.02, (x) the Issuer shall remit all or a portion of the Prepayment Amount pursuant to Section 10.07, (y) the Note Insurer shall remit any required payment pursuant to the Policy, or (z) the Trustee shall remit the Available Funds from the Collection Account pursuant to Section 4.03.remit

Note Payment Account. (a) Pursuant to Section 4.01, the Trustee shall establish and maintain the Note Payment Account Account, which shall be an Eligible Account, for the benefit of the Noteholders and the Note InsurerNoteholders. The Note Payment Account shall be funded to the extent that (x1) the Issuer shall remit to the Trustee the Redemption Amount pursuant to Section 11.02, (y) the Note Insurer shall remit any required payment pursuant to the Policy, or (z2) the Trustee shall remit the any Available Funds from the Collection Account pursuant to Section 4.034.02(b) and (3) the Trustee shall transfer amounts from the Reserve Account pursuant to, and to the extent required by Section 4.05.