Common use of Payahead Account Clause in Contracts

Payahead Account. The Servicer shall establish the Payahead Account in the name of the Trustee on behalf of the Obligors and the Certificateholders as their interests may appear. The Payahead Account shall be a segregated interest bearing trust account established with the Trustee or an Eligible Bank. Amounts in the Payahead Account shall be invested in Eligible Investments that mature not later than the Business Day prior to the next succeeding Distribution Date. The Payahead Account is not property of the Trust. Investment income or interest earned on the Payahead Account shall be remitted to the Servicer at least monthly, or as frequently as the Servicer may reasonably request. On or prior to each Distribution Date, the Servicer shall transfer or the Trustee (as instructed in the Servicer's Certificate) shall transfer (a) from the Certificate Account to the Payahead Account, in immediately available funds, all Payaheads received by the Servicer and previously deposited to the Certificate Account during the Collection Period as described in Section 8.02(b); and (b) from the Payahead Account to the Certificate Account, in immediately available funds, the aggregate amount of previously deposited Payaheads to be applied to Scheduled Payments on Precomputed Receivables for the related Collection Period or prepayments for the related Collection Period, pursuant to Section 8.02(b), each in the amounts set forth in the Servicer's Certificate delivered on the related Determination Date. A single, net transfer between the Payahead Account and the Certificate Account may be made. Any amount deposited in the Payahead Account shall not constitute Available Funds under Section 9.02. Any amount deposited to the Certificate Account from the Payahead Account pursuant to Section 9.09(b) shall be included in Available Funds under Section 9.02.

Payahead Account. The Servicer shall establish the Payahead Account with the Indenture Trustee or another Eligible Bank in the name of the Indenture Trustee on behalf of the Obligors and the Certificateholders Noteholders as their interests may appear. The Payahead Account shall be a segregated interest bearing trust account established with the Trustee or an Eligible Bank. Amounts in the Payahead Account shall be invested in Eligible Investments that mature not later than the Business Day prior appear pursuant to the next succeeding Distribution Date. The Payahead Account is not property Section 9.09 of the TrustTrust Agreement. Investment income or interest earned on the Payahead Account shall be remitted to the Servicer at least monthly, or as frequently as the Servicer may reasonably request. On or prior to each Distribution Payment Date, the Servicer shall transfer or the Indenture Trustee (as instructed in the Servicer's Certificate) shall transfer (a) from the Certificate Collection Account to the Payahead Account, in immediately available funds, all Payaheads received by the Servicer and previously deposited to the Certificate Collection Account during the Collection Period as described in Section 8.02(b)) of the Trust Agreement; and (b) from the Payahead Account to the Certificate Collection Account, in immediately available funds, the aggregate amount of previously deposited Payaheads to be applied to the related Scheduled Payments on Precomputed Receivables for the related Collection Period or prepayments for the related Collection Period, pursuant to Section 8.02(b)) of the Trust Agreement, each in the amounts set forth in the Servicer's Certificate delivered on the related Determination Date. A single, net transfer between the Payahead Account and the Certificate Collection Account may be made. Any amount deposited in the any Payahead Account shall not constitute Available Funds under Section 9.02. Any amount deposited to the Certificate Collection Account from the a Payahead Account pursuant to Section 9.09(b) shall be included in Available Funds under Section 9.02.

Payahead Account. The Servicer shall establish the Payahead Account with the Indenture Trustee or another Eligible Bank in the name of the Indenture Trustee on behalf of the Obligors and the Certificateholders Noteholders as their interests may appear. The Payahead Account shall be a segregated interest bearing trust account established with the Trustee or an Eligible Bank. Amounts in the Payahead Account shall be invested in Eligible Investments that mature not later than the Business Day prior appear pursuant to the next succeeding Distribution Date. The Payahead Account is not property Section 9.09 of the TrustTrust Agreement. Investment income or interest earned on the Payahead Account shall be remitted to the Servicer at least monthly, or included as frequently as the Servicer may reasonably requestAvailable Funds. On or prior to each Distribution Payment Date, the Servicer shall transfer or the Indenture Trustee (as instructed in the Servicer's Certificate) shall transfer (a) from the Certificate Collection Account to the Payahead Account, in immediately available funds, all Payaheads received by the Servicer and previously deposited to the Certificate Collection Account during the Collection Period as described in Section 8.02(b)9.02 of the Trust Agreement; and (b) from the Payahead Account to the Certificate Collection Account, in immediately available funds, the aggregate amount of previously deposited Payaheads to be applied to the related Scheduled Payments on Precomputed Receivables for the related Collection Period or prepayments for the related Collection Period, pursuant to Section 8.02(b)8.05(b) of the Trust Agreement, each in the amounts set forth in the Servicer's Certificate delivered on the related Determination Date. A single, net transfer between the Payahead Account and the Certificate Collection Account may be made. Any amount deposited in the any Payahead Account shall not constitute Available Funds under Section 9.028.02. Any amount deposited to the Certificate Collection Account from the a Payahead Account pursuant to this Section 9.09(b8.07(b) shall be included in Available Funds under Section 9.028.02.

Payahead Account. The Servicer shall establish the Payahead Account in the name of the Trustee on behalf of the Obligors and the Certificateholders as their interests may appear. The Payahead Account shall be a segregated interest bearing trust account established with the Trustee or an Eligible BankBank (which may be the Trustee). Amounts in the Payahead Account shall be invested in Eligible Investments that mature not later than the Business Day prior to the next succeeding Distribution Date. The Payahead Account is not property of the Trust. Investment income or interest earned on the Payahead Account shall be remitted to the Servicer at least monthly, or as frequently as the Servicer may reasonably request. On or prior to each Distribution Date, the Servicer shall transfer or the Trustee (as instructed in the Servicer's Certificate) shall transfer (a) from the Certificate Account to the Payahead Account, in immediately available funds, all Payaheads received by the Servicer and previously deposited to the Certificate Account during the Collection Period as described in Section 8.02(b)9.02; and (b) from the Payahead Account to the Certificate Account, in immediately available funds, the aggregate amount of previously deposited Payaheads to be applied to Scheduled Payments on Precomputed Receivables for the related Collection Period or prepayments for the related Collection Period, pursuant to Section 8.02(b), each in the amounts set forth in the Servicer's Certificate delivered on the related Determination Date. A single, net transfer between the Payahead Account and the Certificate Account may be made. Any amount deposited in the Payahead Account shall not constitute Available Funds under Section 9.02. Any amount deposited to the Certificate Account from the Payahead Account pursuant to Section 9.09(b) shall be included in Available Funds under Section 9.02.

Payahead Account. The Servicer shall establish the Payahead Account with the Indenture Trustee or another Eligible Bank in the name of the Indenture Trustee on behalf of the Obligors and the Certificateholders Noteholders as their interests may appear. The Payahead Account shall be a segregated interest bearing trust account established with the Trustee or an Eligible Bank. Amounts in the Payahead Account shall be invested in Eligible Investments that mature not later than the Business Day prior appear pursuant to the next succeeding Distribution Date. The Payahead Account is not property Section 9.09 of the TrustTrust Agreement. Investment income or interest earned on the Payahead Account shall be remitted to the Servicer at least monthly, or as frequently as the Servicer may reasonably request. On or prior to each Distribution Payment Date, the Servicer shall transfer or the Indenture Trustee (as instructed in the Servicer's Certificate) shall transfer (a) from the Certificate Collection Account to the Payahead Account, in immediately available funds, all Payaheads received by the Servicer and previously deposited to the Certificate Collection Account during the Collection Period as described in Section 8.02(b)) of the Trust Agreement; and (b) from the Payahead Account to the Certificate Collection Account, in immediately available funds, the aggregate amount of previously deposited Payaheads to be applied to the related Scheduled Payments on Precomputed Receivables for the related Collection Period or prepayments for the related Collection Period, pursuant to Section 8.02(b)) of the Trust Agreement, each in the amounts set forth in the Servicer's Certificate delivered on the related Determination Date. A single, net transfer between the Payahead Account and the Certificate Collection Account may be made. Any amount 60 deposited in the any Payahead Account shall not constitute Available Funds under Section 9.02. Any amount deposited to the Certificate Collection Account from the a Payahead Account pursuant to Section 9.09(b) shall be included in Available Funds under Section 9.02.

Payahead Account. The Servicer shall establish the Payahead Account in the name of the Trustee on behalf of the Obligors and the Certificateholders as their interests may appearObligors. The Payahead Account shall be a segregated interest bearing trust account established with the Trustee or an Eligible Bank. Amounts in the Payahead Account shall be invested in Eligible Investments that mature not later than the Business Day prior to the Distribution Date next succeeding Distribution Datesuch investment. The Payahead Account is not property of the Trust. Investment income or interest earned on the Payahead Account shall be remitted to the Servicer at least monthly, or as frequently as the Servicer may reasonably request. On or prior to each Distribution Date, the Servicer shall transfer or the Trustee (as instructed in the Servicer's Certificate) shall transfer (a) from the Certificate Collection Account to the Payahead Account, in immediately available funds, all Payaheads received by the Servicer and previously deposited to into the Certificate Account during the Collection Period as described in Section 8.02(b)9.02; and (b) from the Payahead Account to the Certificate Collection Account, in immediately available funds, the aggregate amount of previously deposited Payaheads to be applied to Scheduled Payments on Precomputed Receivables for the related Collection Period or prepayments for the related Collection Period, pursuant to Section 8.02(b), each in the amounts set forth in the Servicer's Certificate delivered on the related Determination Date. A single, net transfer between the Payahead Account and the Certificate Collection Account may be made. Any amount deposited in the Payahead Account shall not constitute Available Funds under Section 9.02. Any amount deposited to the Certificate Account from the Payahead Account pursuant to Section 9.09(b) shall be included in Available Funds under Section 9.02.

Payahead Account. The Servicer shall establish the Payahead Account with the Indenture Trustee or another Eligible Bank in the name of the Indenture Trustee on behalf of the Obligors and the Certificateholders Noteholders as their interests may appear. The Payahead Account shall be a segregated interest bearing trust account established with the Trustee or an Eligible Bank. Amounts in the Payahead Account shall be invested in Eligible Investments that mature not later than the Business Day prior appear pursuant to the next succeeding Distribution Date. The Payahead Account is not property Section 9.10 of the TrustTrust Agreement. Investment income or interest earned on the Payahead Account during each Collection Period shall be remitted to the Servicer at least monthly, or included as frequently as the Servicer may reasonably requestAvailable Funds. On or prior to each Distribution Payment Date, the Servicer shall transfer or the Indenture Trustee (as instructed in the Servicer's ’s Certificate) shall transfer (a) from the Certificate Collection Account to the Payahead Account, in immediately available funds, all Payaheads received by the Servicer and previously deposited to the Certificate Collection Account during the Collection Period as described in Section 8.02(b)8.05 of the Trust Agreement; and (b) from the Payahead Account to the Certificate Collection Account, in immediately available funds, the aggregate amount of previously deposited Payaheads to be applied to the related Scheduled Receivable Payments on Precomputed Receivables for the related Collection Period or prepayments for the related Collection Period, pursuant to Section 8.02(b)8.05(b) of the Trust Agreement, each in the amounts set forth in the Servicer's ’s Certificate delivered on the related Determination Date. A single, net transfer between the Payahead Account and the Certificate Collection Account may be made. Any amount deposited in the any Payahead Account other than interest income shall not constitute Available Funds under Section 9.028.03 hereof. Any amount deposited to the Certificate Collection Account from the a Payahead Account pursuant to this Section 9.09(b) 8.07 shall be included in Available Funds under Section 9.028.03 hereof. On the last scheduled payment date, for any non-delinquent Precomputed Receivable, any remaining balance on the loan based on the actuarial method shall be transferred (as instructed by the Servicer) from the Payahead Account to Available Funds to be distributed as principal. On the Final Distribution Date, any remaining money in the Payahead Account shall be released from the Lien of this Indenture and transferred to the Servicer.

Payahead Account. The Servicer shall establish the Payahead Account with the Indenture Trustee or another Eligible Bank in the name of the Indenture Trustee on behalf of the Obligors and the Certificateholders Noteholders as their interests may appear. The Payahead Account shall be a segregated interest bearing trust account established with the Trustee or an Eligible Bank. Amounts in the Payahead Account shall be invested in Eligible Investments that mature not later than the Business Day prior appear pursuant to the next succeeding Distribution Date. The Payahead Account is not property Section 9.10 of the TrustTrust Agreement. Investment income or interest earned on the Payahead Account during each Collection Period shall be remitted to the Servicer at least monthly, or included as frequently as the Servicer may reasonably requestAvailable Funds. On or prior to each Distribution Payment Date, the Servicer shall transfer or the Indenture Trustee (as instructed in the Servicer's Certificate) shall transfer (a) from the Certificate Collection Account to the Payahead Account, in immediately available funds, all 63 Indenture Payaheads received by the Servicer and previously deposited to the Certificate Collection Account during the Collection Period as described in Section 8.02(b)8.05 of the Trust Agreement; and (b) from the Payahead Account to the Certificate Collection Account, in immediately available funds, the aggregate amount of previously deposited Payaheads to be applied to the related Scheduled Receivable Payments on Precomputed Receivables for the related Collection Period or prepayments for the related Collection Period, pursuant to Section 8.02(b)8.05(b) of the Trust Agreement, each in the amounts set forth in the Servicer's Certificate delivered on the related Determination Date. A single, net transfer between the Payahead Account and the Certificate Collection Account may be made. Any amount deposited in the any Payahead Account other than interest income shall not constitute Available Funds under Section 9.028.03. Any amount deposited to the Certificate Collection Account from the a Payahead Account pursuant to this Section 9.09(b) 8.07 shall be included in Available Funds under Section 9.028.03. On the last scheduled payment date, for any non-delinquent Precomputed Receivable, any remaining balance on the loan based on the actuarial method shall be transferred (as instructed by the Servicer) from the Payahead Account to Available Funds to be distributed as principal. On the Final Distribution Date, any remaining money in the Payahead Account shall be released from the Lien of this Indenture and transferred to the Servicer.

Payahead Account. The Servicer shall establish the Payahead Account in the name of the Trustee Trust on behalf of the Obligors and the Certificateholders Secured Parties as their interests may appear. The Payahead Account shall be a segregated interest bearing trust account established with the Indenture Trustee or an another Eligible Bank. Amounts in the Payahead Account shall be invested in Eligible Investments that mature not later than the Business Day prior to the next succeeding Distribution Payment Date. The Payahead Account is not property of the Trust. Investment income or interest earned on the Payahead Account shall be remitted to the Servicer at least monthly, or as frequently as the Servicer may reasonably request. On or prior to each Distribution Payment Date, the Servicer shall transfer or the Indenture Trustee (as instructed in the Servicer's Certificate) shall transfer (a) from the Certificate Collection Account to the Payahead Account, in immediately available funds, all Payaheads received by the Servicer and previously deposited to the Certificate Collection Account during the Collection Period as described in Section 8.02(b); and (b) from the Payahead Account to the Certificate Collection Account, in immediately available funds, the aggregate amount of previously deposited Payaheads to be applied to Scheduled Payments on Precomputed Receivables for the related Collection Period or prepayments for the related Collection Period, pursuant to Section 8.02(b), each in the amounts set forth in the Servicer's Certificate delivered on the related Determination Date. A single, net transfer between the Payahead Account and the Certificate Collection Account may be made. Any amount deposited in the Payahead Account shall not constitute Available Funds under Section 9.02. Any amount deposited to the Certificate Collection Account from the Payahead Account pursuant to Section 9.09(b) shall be included in Available Funds under Section 9.02.

Payahead Account. The Servicer shall establish the Payahead Account in the name of the Trustee on behalf of the Obligors and the Certificateholders as their interests may appear. The Payahead Account shall be a segregated non-interest bearing trust account established with the Trustee or an Eligible BankBank (which may be the Trustee). Amounts in the Payahead Account shall be invested in Eligible Investments that mature not later than the Business Day prior to the next succeeding Distribution Date. The Payahead Account is not property of the Trust. Investment income or interest earned on the Payahead Account shall be remitted to the Servicer at least monthly, or as frequently as the Servicer may reasonably request. On or prior to each Distribution Date, the Servicer shall transfer or the Trustee (as instructed in the Servicer's Certificate) shall transfer (a) from the Certificate Account to the Payahead Account, in immediately available funds, all Payaheads received by the Servicer and previously deposited to the Certificate Account during the Collection Period as described in Section 8.02(b)9.02; and (b) from the Payahead Account to the Certificate Account, in immediately available funds, the aggregate amount of previously deposited Payaheads to be applied to Scheduled Payments on Precomputed Receivables for the related Collection Period or prepayments for the related Collection Period, pursuant to Section 8.02(b), each in the amounts set forth in the Servicer's Certificate delivered on the related Determination Date. A single, net transfer between the Payahead Account and the Certificate Account may be made. Any amount deposited in the Payahead Account shall not constitute Available Funds under Section 9.02. Any amount deposited to the Certificate Account from the Payahead Account pursuant to Section 9.09(b) shall be included in Available Funds under Section 9.02.

Payahead Account. The Servicer shall establish the Payahead Account with the Indenture Trustee or another Eligible Bank in the name of the Indenture Trustee on behalf of the Obligors and the Certificateholders Noteholders as their interests may appear. The Payahead Account shall be a segregated interest bearing trust account established with the Trustee or an Eligible Bank. Amounts in the Payahead Account shall be invested in Eligible Investments that mature not later than the Business Day prior appear pursuant to the next succeeding Distribution Date. The Payahead Account is not property Section 9.09 of the TrustTrust Agreement. Investment income or interest earned on the Payahead Account shall be remitted to the Servicer at least monthly, or as frequently as the Servicer may reasonably request. On or prior to each Distribution Payment Date, the Servicer shall transfer or the Indenture Trustee (as instructed in the Servicer's Certificate) shall transfer (a) from the Certificate Collection Account to the Payahead Account, in immediately available funds, all Payaheads received by the Servicer and previously deposited to the Certificate Collection Account during the Collection Period as described in Section 8.02(b)) of the Trust Agreement; and (b) from the Payahead Account to the Certificate Collection Account, in immediately available funds, the aggregate amount of previously deposited Payaheads to be applied to the related Scheduled Payments on Precomputed Receivables for the related Collection Period or prepayments for the related Collection Period, pursuant to Section 8.02(b)) of the Trust Agreement, each in the amounts set forth in the Servicer's Certificate delivered on the related Determination Date. A single, net transfer between the Payahead Account and the Certificate Collection Account may be made. Any amount deposited in the any Payahead Account shall not constitute Available Funds under Section 9.02. Any amount 57 deposited to the Certificate Collection Account from the a Payahead Account pursuant to Section 9.09(b) shall be included in Available Funds under Section 9.02.

Payahead Account. The Servicer shall establish the Payahead Account in the name of the Trustee on behalf of the Obligors and the Certificateholders as their interests may appear. The Payahead Account shall be a segregated interest bearing trust account established with the Trustee Trustee, the Bank or an Eligible Bank. Amounts in the Payahead Account shall be invested in Eligible Investments that mature not later than the Business Day prior to the next succeeding Distribution Date. The Payahead Account is not property of the Trust. Investment income or interest earned on the Payahead Account shall be remitted to the Servicer at least monthly, or as frequently as the Servicer may reasonably request. On or prior to each Distribution Date, the Servicer shall transfer or the Trustee (as instructed in the Servicer's Certificate) shall transfer (a) from the Certificate Account to the Payahead Account, in immediately available funds, all Payaheads received by the Servicer and previously deposited to the Certificate Account during the Collection Period as described in Section 8.02(b); and (b) from the Payahead Account to the Certificate Account, in immediately available funds, the aggregate amount of previously deposited Payaheads to be applied to Scheduled Payments on Precomputed Receivables for the related Collection Period or prepayments for the related Collection Period, pursuant to Section 8.02(b), each in the amounts set forth in the Servicer's Certificate delivered on the related Determination Date. A single, net transfer between the Payahead Account and the Certificate Account may be made. Any amount deposited in the Payahead Account shall not constitute Available Funds under Section 9.02. Any amount deposited to the Certificate Account from the Payahead Account pursuant to Section 9.09(b) shall be included in Available Funds under Section 9.02.

Payahead Account. The Servicer shall establish the Payahead Account in the name of the Trustee Trust on behalf of the Obligors and the Certificateholders Secured Parties as their interests may appear. The Payahead Account shall be a segregated interest bearing trust account established with the Indenture Trustee or an another Eligible Bank. Amounts in the Payahead Account shall be invested in Eligible Investments that mature not later than the Business Day prior to the next succeeding Distribution Payment Date. The Payahead Account is not property of the Trust. Investment income or interest earned on the Payahead Account shall be remitted to the Servicer at least monthly, or as frequently as the Servicer may reasonably request. On or prior to each Distribution Payment Date, the Servicer shall transfer or the Indenture Trustee (as instructed in the Servicer's Certificate) shall transfer (a) from the Certificate Collection Account to the Payahead Account, in immediately available funds, all Payaheads received by the Servicer and previously deposited to the Certificate Collection Account during the Collection Period as described in Section 8.02(b); and (b) from the Payahead Account to the Certificate Collection Account, in immediately available funds, the aggregate amount of previously deposited Payaheads to be applied to Scheduled Payments on Precomputed Receivables for the related Collection Period or prepayments for the related Collection Period, pursuant to Section 8.02(b), each in the amounts set forth in the Servicer's Certificate delivered on the related Determination Date. A single, net transfer between the Payahead Account and the Certificate Collection Account may be made. Any amount deposited in the Payahead Account shall not constitute Available Funds under Section 9.02. Any amount deposited to the Certificate Collection Account from the Payahead Account pursuant to Section 9.09(b) shall be included in Available Funds under Section 9.02.

Payahead Account. The Servicer shall establish the Payahead Account with the Indenture Trustee or another Eligible Bank in the name of the Indenture Trustee on behalf of the Obligors and the Certificateholders Noteholders as their interests may appear. The Payahead Account shall be a segregated interest bearing trust account established with the Trustee or an Eligible Bank. Amounts in the Payahead Account shall be invested in Eligible Investments that mature not later than the Business Day prior appear pursuant to the next succeeding Distribution Date. The Payahead Account is not property Section 9.11 of the TrustTrust Agreement. Investment income or interest earned on the Payahead Account during each Collection Period shall be remitted to the Servicer at least monthly, or included as frequently as the Servicer may reasonably requestAvailable Funds. On or prior to each Distribution Payment Date, the Servicer shall transfer or the Indenture Trustee (as instructed in the Servicer's Certificate) shall transfer (a) from the Certificate Collection Account to the Payahead Account, in immediately available funds, all Payaheads received by the Servicer and previously deposited to the Certificate Collection Account during the Collection Period as described in Section 8.02(b)8.05(b) of the Trust Agreement; and (b) from the Payahead Account to the Certificate Collection Account, in immediately available funds, the aggregate amount of previously deposited Payaheads to be applied to the related Scheduled Receivable Payments on Precomputed Receivables for the related Collection Period or prepayments for the related Collection Period, pursuant to Section 8.02(b)8.05(b) of the Trust Agreement, each in the amounts set forth in the Servicer's Certificate delivered on the related Determination Date. A single, net transfer between the Payahead Account and the Certificate Collection Account may be made. Any amount deposited in the any Payahead Account (other than interest income) shall not constitute Available Funds under Section 9.029.03. Any amount deposited to the Certificate Collection Account from the a Payahead Account pursuant to this Section 9.09(b) 9.10 shall be included in Available Funds under Section 9.029.05.