Payment of Moneys Held by Paying Agent. In connection with the satisfaction and discharge of this Indenture with respect to the Notes, all moneys then held by any Paying Agent other than the Indenture Trustee under this Indenture with respect to such Notes shall, upon demand of the Issuer, be paid to the Indenture Trustee to be held and applied according to Section 3.3 hereof and Sections 4.6 and 4.7 of the Sale and Servicing Agreement, and thereupon such Paying Agent shall be released from all further liability with respect to such moneys.
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Samples: Indenture (Asset Backed Securities Corp), Indenture (Asset Backed Securities Corp)
Payment of Moneys Held by Paying Agent. In connection with the satisfaction and discharge of this Indenture with respect to the Notes, all moneys then held by any Paying Agent other than the Indenture Trustee under this Indenture with respect to such Notes shall, upon demand of the Issuer, be paid to the Indenture Trustee to be held and applied according to Section 3.3 hereof and Sections 4.6 and 4.7 Section 4.5 of the Sale and Servicing Agreement, and thereupon such Paying Agent shall be released from all further liability with respect to such moneys.
Appears in 2 contracts
Samples: Indenture (Paragon Auto Receivables Corp), Indenture (Paragon Auto Receivables Corp)
Payment of Moneys Held by Paying Agent. In connection with the satisfaction and discharge of this Indenture with respect to the Notes, all moneys then held by any Paying Agent other than the Indenture Trustee under this Indenture with respect to such Notes shall, upon demand of the Issuer, be paid to the Indenture Trustee to be held and applied according to Section 3.3 hereof and Sections 4.6 and 4.7 Section 4.5 of the Sale Pooling and Servicing Agreement, and thereupon such Paying Agent shall be released from all further liability with respect to such moneys.
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