Common use of Payment in Full Clause in Contracts

Payment in Full. Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent under Section 7.1(a) for payment to the Series 20 - Noteholders will be considered paid in full to the Series 20 - Noteholders on the date the funds are distributed to the Note Paying Agent under this Section 7.1(b) and will be considered to be a final payment of the Series 20 - Notes and (ii) if the amounts available for final payment to the Series 20 - Noteholders and to the Noteholders of any other Series on any Payment Date are less than the amount required to be so paid, the available amounts will be allocated to each Series based on the respective amounts required to be paid to each Series on that Payment Date.

Appears in 4 contracts

Samples: Series (Ford Credit Floorplan LLC), Series (Ford Credit Floorplan LLC), Ford Credit Floorplan LLC

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Payment in Full. Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent under Section 7.1(a) for payment to the Series 20 - 2017-2 Noteholders will be considered paid in full to the Series 20 - 2017-2 Noteholders on the date the funds are distributed to the Note Paying Agent under this Section 7.1(b) and will be considered to be a final payment of the Series 20 - 2017-2 Notes and (ii) if the amounts available for final payment to the Series 20 - 2017-2 Noteholders and to the Noteholders of any other Series on any Payment Date are less than the amount required to be so paid, the available amounts will be allocated to each Series based on the respective amounts required to be paid to each Series on that Payment Date.

Appears in 2 contracts

Samples: Ford Credit Floorplan LLC, Ford Credit Floorplan LLC

Payment in Full. Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent under Section 7.1(a) for payment to the Series 20 - 2019-4 Noteholders will be considered paid in full to the Series 20 - 2019-4 Noteholders on the date the funds are distributed to the Note Paying Agent under this Section 7.1(b) and will be considered to be a final payment of the Series 20 - 2019-4 Notes and (ii) if the amounts available for final payment to the Series 20 - 2019-4 Noteholders and to the Noteholders of any other Series on any Payment Date are less than the amount required to be so paid, the available amounts will be allocated to each Series based on the respective amounts required to be paid to each Series on that Payment Date.

Appears in 2 contracts

Samples: Ford Credit Floorplan LLC, Ford Credit Floorplan LLC

Payment in Full. Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent under Section 7.1(a) for payment to the Series 20 - 2016-4 Noteholders will be considered paid in full to the Series 20 - 2016-4 Noteholders on the date the funds are distributed to the Note Paying Agent under this Section 7.1(b) and will be considered to be a final payment of the Series 20 - 2016-4 Notes and (ii) if the amounts available for final payment to the Series 20 - 2016-4 Noteholders and to the Noteholders of any other Series on any Payment Date are less than the amount required to be so paid, the available amounts will be allocated to each Series based on the respective amounts required to be paid to each Series on that Payment Date.

Appears in 2 contracts

Samples: Ford Credit Floorplan Corp, Ford Credit Floorplan Corp

Payment in Full. Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent under Section 7.1(a) for payment to the Series 20 - 2016-1 Noteholders will be considered paid in full to the Series 20 - 2016-1 Noteholders on the date the funds are distributed to the Note Paying Agent under this Section 7.1(b) and will be considered to be a final payment of the Series 20 - 2016-1 Notes and (ii) if the amounts available for final payment to the Series 20 - 2016-1 Noteholders and to the Noteholders of any other Series on any Payment Date are less than the amount required to be so paid, the available amounts will be allocated to each Series based on the respective amounts required to be paid to each Series on that Payment Date.

Appears in 2 contracts

Samples: Series 2016 (Ford Credit Floorplan Corp), Series 2016 (Ford Credit Floorplan Corp)

Payment in Full. Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent under Section 7.1(a) for payment to the Series 20 - 2017-1 Noteholders will be considered paid in full to the Series 20 - 2017-1 Noteholders on the date the funds are distributed to the Note Paying Agent under this Section 7.1(b) and will be considered to be a final payment of the Series 20 - 2017-1 Notes and (ii) if the amounts available for final payment to the Series 20 - 2017-1 Noteholders and to the Noteholders of any other Series on any Payment Date are less than the amount required to be so paid, the available amounts will be allocated to each Series based on the respective amounts required to be paid to each Series on that Payment Date.

Appears in 2 contracts

Samples: Ford Credit Floorplan Corp, Ford Credit Floorplan LLC

Payment in Full. Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent under Section 7.1(a) for payment to the Series 20 - 2016-5 Noteholders will be considered paid in full to the Series 20 - 2016-5 Noteholders on the date the funds are distributed to the Note Paying Agent under this Section 7.1(b) and will be considered to be a final payment of the Series 20 - 2016-5 Notes and (ii) if the amounts available for final payment to the Series 20 - 2016-5 Noteholders and to the Noteholders of any other Series on any Payment Date are less than the amount required to be so paid, the available amounts will be allocated to each Series based on the respective amounts required to be paid to each Series on that Payment Date.

Appears in 2 contracts

Samples: Series 2016 (Ford Credit Floorplan Corp), Ford Credit Floorplan Corp

Payment in Full. Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent under Section 7.1(a) for payment to the Series 20 - 2018-2 Noteholders will be considered paid in full to the Series 20 - 2018-2 Noteholders on the date the funds are distributed to the Note Paying Agent under this Section 7.1(b) and will be considered to be a final payment of the Series 20 - 2018-2 Notes and (ii) if the amounts available for final payment to the Series 20 - 2018-2 Noteholders and to the Noteholders of any other Series on any Payment Date are less than the amount required to be so paid, the available amounts will be allocated to each Series based on the respective amounts required to be paid to each Series on that Payment Date.

Appears in 2 contracts

Samples: Ford Credit Floorplan LLC, Ford Credit Floorplan LLC

Payment in Full. Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent under Section 7.1(a) for payment to the Series 20 - 2017-3 Noteholders will be considered paid in full to the Series 20 - 2017-3 Noteholders on the date the funds are distributed to the Note Paying Agent under this Section 7.1(b) and will be considered to be a final payment of the Series 20 - 2017-3 Notes and (ii) if the amounts available for final payment to the Series 20 - 2017-3 Noteholders and to the Noteholders of any other Series on any Payment Date are less than the amount required to be so paid, the available amounts will be allocated to each Series based on the respective amounts required to be paid to each Series on that Payment Date.

Appears in 2 contracts

Samples: Ford Credit Floorplan LLC, Ford Credit Floorplan LLC

Payment in Full. Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent under Section 7.1(a) for payment to the Series 20 - 2018-1 Noteholders will be considered paid in full to the Series 20 - 2018-1 Noteholders on the date the funds are distributed to the Note Paying Agent under this Section 7.1(b) and will be considered to be a final payment of the Series 20 - 2018-1 Notes and (ii) if the amounts available for final payment to the Series 20 - 2018-1 Noteholders and to the Noteholders of any other Series on any Payment Date are less than the amount required to be so paid, the available amounts will be allocated to each Series based on the respective amounts required to be paid to each Series on that Payment Date.

Appears in 2 contracts

Samples: Ford Credit Floorplan LLC, Ford Credit Floorplan LLC

Payment in Full. Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent under Section 7.1(a) for payment to the Series 20 - 2019-2 Noteholders will be considered paid in full to the Series 20 - 2019-2 Noteholders on the date the funds are distributed to the Note Paying Agent under this Section 7.1(b) and will be considered to be a final payment of the Series 20 - 2019-2 Notes and (ii) if the amounts available for final payment to the Series 20 - 2019-2 Noteholders and to the Noteholders of any other Series on any Payment Date are less than the amount required to be so paid, the available amounts will be allocated to each Series based on the respective amounts required to be paid to each Series on that Payment Date.

Appears in 2 contracts

Samples: Ford Credit Floorplan LLC, Ford Credit Floorplan LLC

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Payment in Full. Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent under Section 7.1(a) for payment to the Series 20 - 2016-3 Noteholders will be considered paid in full to the Series 20 - 2016-3 Noteholders on the date the funds are distributed to the Note Paying Agent under this Section 7.1(b) and will be considered to be a final payment of the Series 20 - 2016-3 Notes and (ii) if the amounts available for final payment to the Series 20 - 2016-3 Noteholders and to the Noteholders of any other Series on any Payment Date are less than the amount required to be so paid, the available amounts will be allocated to each Series based on the respective amounts required to be paid to each Series on that Payment Date.

Appears in 2 contracts

Samples: Ford Credit Floorplan Corp, Ford Credit Floorplan Corp

Payment in Full. Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent under Section 7.1(a) for payment to the Series 20 - 2018-4 Noteholders will be considered paid in full to the Series 20 - 2018-4 Noteholders on the date the funds are distributed to the Note Paying Agent under this Section 7.1(b) and will be considered to be a final payment of the Series 20 - 2018-4 Notes and (ii) if the amounts available for final payment to the Series 20 - 2018-4 Noteholders and to the Noteholders of any other Series on any Payment Date are less than the amount required to be so paid, the available amounts will be allocated to each Series based on the respective amounts required to be paid to each Series on that Payment Date.

Appears in 2 contracts

Samples: Ford Credit Floorplan LLC, Ford Credit Floorplan LLC

Payment in Full. Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent under Section 7.1(a) for payment to the Series 20 - 2020-1 Noteholders will be considered paid in full to the Series 20 - 2020-1 Noteholders on the date the funds are distributed to the Note Paying Agent under this Section 7.1(b) and will be considered to be a final payment of the Series 20 - 2020-1 Notes and (ii) if the amounts available for final payment to the Series 20 - 2020-1 Noteholders and to the Noteholders of any other Series on any Payment Date are less than the amount required to be so paid, the available amounts will be allocated to each Series based on the respective amounts required to be paid to each Series on that Payment Date.

Appears in 2 contracts

Samples: Series 2020 (Ford Credit Floorplan LLC), Series 2020 (Ford Credit Floorplan LLC)

Payment in Full. Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent under Section 7.1(a) for payment to the Series 20 - 2020-2 Noteholders will be considered paid in full to the Series 20 - 2020-2 Noteholders on the date the funds are distributed to the Note Paying Agent under this Section 7.1(b) and will be considered to be a final payment of the Series 20 - 2020-2 Notes and (ii) if the amounts available for final payment to the Series 20 - 2020-2 Noteholders and to the Noteholders of any other Series on any Payment Date are less than the amount required to be so paid, the available amounts will be allocated to each Series based on the respective amounts required to be paid to each Series on that Payment Date.

Appears in 2 contracts

Samples: Series 2020 (Ford Credit Floorplan LLC), Ford Credit Floorplan LLC

Payment in Full. Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent under Section 7.1(a) for payment to the Series 20 - 2019-1 Noteholders will be considered paid in full to the Series 20 - 2019-1 Noteholders on the date the funds are distributed to the Note Paying Agent under this Section 7.1(b) and will be considered to be a final payment of the Series 20 - 2019-1 Notes and (ii) if the amounts available for final payment to the Series 20 - 2019-1 Noteholders and to the Noteholders of any other Series on any Payment Date are less than the amount required to be so paid, the available amounts will be allocated to each Series based on the respective amounts required to be paid to each Series on that Payment Date.

Appears in 2 contracts

Samples: Ford Credit Floorplan LLC, Ford Credit Floorplan LLC

Payment in Full. Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent under Section 7.1(a) for payment to the Series 20 - 2019-3 Noteholders will be considered paid in full to the Series 20 - 2019-3 Noteholders on the date the funds are distributed to the Note Paying Agent under this Section 7.1(b) and will be considered to be a final payment of the Series 20 - 2019-3 Notes and (ii) if the amounts available for final payment to the Series 20 - 2019-3 Noteholders and to the Noteholders of any other Series on any Payment Date are less than the amount required to be so paid, the available amounts will be allocated to each Series based on the respective amounts required to be paid to each Series on that Payment Date.

Appears in 2 contracts

Samples: Ford Credit Floorplan LLC, Ford Credit Floorplan LLC

Payment in Full. Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent under Section 7.1(a) for payment to the Series 20 - 2018-3 Noteholders will be considered paid in full to the Series 20 - 2018-3 Noteholders on the date the funds are distributed to the Note Paying Agent under this Section 7.1(b) and will be considered to be a final payment of the Series 20 - 2018-3 Notes and (ii) if the amounts available for final payment to the Series 20 - 2018-3 Noteholders and to the Noteholders of any other Series on any Payment Date are less than the amount required to be so paid, the available amounts will be allocated to each Series based on the respective amounts required to be paid to each Series on that Payment Date.

Appears in 2 contracts

Samples: Ford Credit Floorplan LLC, Ford Credit Floorplan LLC

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