Payment Date Withdrawals Sample Clauses

Payment Date Withdrawals. (a) Subject to Sections 3.5(b) and 3.5(c), on each Payment Date, the Trustee shall distribute (or instruct the Paying Agent to distribute) from the Collection Account the Available Collections Amount in the order of priority set forth below but, in each case, only to the extent that all amounts then required to be paid ranking prior thereto have been paid in full: (i) first, to the Trustee for distribution to the Noteholders, the ratable payment of the Required Interest Amount on such Payment Date; (ii) second, from and after March 15, 2019, to the Trustee for distribution to the Noteholders, the Required Principal Amount, allocated pro rata in proportion to the Outstanding Principal Balance of the Notes held by such Noteholders, until the Outstanding Principal Balance of such Notes has been paid in full; (iii) third, to the ratable payment of all other obligations then due and payable (including the Outstanding Principal Balance of the Notes then due and payable, whether due to acceleration or otherwise) under this Indenture until all such amounts are paid in full; and (iv) fourth, to the Issuer, all remaining amounts. (b) Notwithstanding anything herein to the contrary, the priority of payments set forth in Section 3.5(a) shall be adjusted to give effect to any inaccuracy set forth in any report of the Accounting Firm pursuant to Section 5.2(o) or in any report of a certified public accountant or other Person pursuant to Section 6.14, in each case, such that each Person shall be restored on the succeeding Payment Date (or, if necessary, the succeeding Payment Dates) to the cash flow position that such Person would have been in had the accurate amounts set forth in such report been paid in accordance with Section 3.5(a) on the relevant prior Payment Dates. (c) Notwithstanding anything herein to the contrary, upon the deposit of any Termination Payment into the Collection Account the Trustee shall distribute (or instruct the Paying Agent to distribute) such Termination Payment in accordance with Section 4.14.