Payment of Certificate Principal. (a) On the Transfer Date preceding the Class A Scheduled Payment Date with respect to the Controlled Accumulation Period or each Distribution Date with respect to the Early Amortization Period, the Trustee, acting in accordance with instructions from the Servicer set forth in the Daily Report for such day, shall withdraw from the Principal Account and deposit in the Distribution Account, to the extent of funds available, an amount equal to the Class A Principal for such Distribution Date. On the Class A Scheduled Payment Date (or, if applicable, such Distribution Date in respect of the Early Amortization Period), the Paying Agent shall pay in accordance with Section 5.1 to the Class A Certificateholders from the Distribution Account such amount deposited into the Distribution Account on the related Transfer Date.
Appears in 8 contracts
Samples: Pooling and Servicing Agreement (Greentree Floorplan Funding Corp), Pooling and Servicing Agreement (Greentree Floorplan Funding Corp), Pooling and Servicing Agreement (Greentree Floorplan Funding Corp)
