Payment Covenant. The Issuer shall duly and punctually pay the principal of and interest on, if any, the Notes in accordance with the terms of the Notes and this Indenture. Amounts properly withheld under the Code by any Person from a payment to any Noteholder of interest and/or principal shall be considered as having been paid by the Issuer to such Noteholder for all purposes of this Indenture.
Appears in 28 contracts
Samples: Indenture (Mmca Auto Owner Trust 2002-4), Indenture (Mmca Auto Owner Trust 2001 2), Indenture (Mmca Auto Owner Trust 2002-5)
Payment Covenant. The Issuer shall duly and punctually pay the principal of and interest oninterest, if any, on the Notes in accordance with the terms of the Notes and this Indenture. Amounts properly withheld under the Code by any Person from a payment to any Noteholder of interest and/or principal shall be considered as having been paid by the Issuer to such Noteholder for all purposes of this Indenture.
Appears in 8 contracts
Samples: Indenture (Mmca Auto Receivables Inc), Indenture (Daimler Benz Vehicle Receivables Corp), Indenture (Mmca Auto Receivables Inc)
Payment Covenant. The Issuer shall duly and punctually pay the principal of and interest oninterest, if any, on the Notes in accordance with the terms of the Notes and this Indenture. Amounts properly withheld under the Code by any Person from a payment to any Noteholder of interest (with respect to the Class A Notes) and/or principal shall be considered as having been paid by the Issuer to such Noteholder for all purposes of this Indenture.
Appears in 1 contract
Samples: Indenture (First Investors Financial Services Group Inc)
