Common use of Payment of Principal and/or Interest Clause in Contracts

Payment of Principal and/or Interest. The Issuer will duly and punctually pay (or will cause to be paid duly and punctually) the principal of and interest on the Notes in accordance with the terms of the Notes and this Indenture. Without limiting the foregoing, subject to and in accordance with Section 8.02(C) hereof, the Issuer will cause to be paid to the Noteholders all amounts on deposit in the Note Payment Account on each Payment Date deposited therein pursuant to the Sale and Servicing Agreement (less any amounts representing income from Permitted Investments) for the benefit of the Notes. 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 [or the Securities Insurer, as applicable,] to such Noteholder for all purposes of this Indenture. The Notes shall be non-recourse obligations of the Issuer and shall be limited in right of payment to amounts available from the Collateral [and any amounts received by the Indenture Trustee under the Guaranty Policy in respect of the Notes,] as provided in this Indenture. The Issuer shall not otherwise be liable for payments on the Notes. If any other provision of this Indenture shall be deemed to conflict with the provisions of this Section 3.01, the provisions of this Section 3.01 shall control.

Payment of Principal and/or Interest. The Issuer will duly and punctually pay (or will cause to be paid duly and punctually) the principal of and interest on the Notes in accordance with the terms of the Notes and this Indenture. Without limiting the foregoing, subject to and in accordance with Section 8.02(C8.02(c) hereof, the Issuer will cause to be paid to the Noteholders all amounts on deposit in the Note Payment Account on each Payment Date deposited therein pursuant to the Sale and Servicing Agreement (less any amounts representing income from Permitted Investments) for the benefit of the Notes. 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 [or the Securities Insurer, as applicable,] , to such Noteholder for all purposes of this Indenture. The Notes shall be non-recourse obligations of the Issuer and shall be limited in right of payment to amounts available from the Collateral [and any amounts received by the Indenture Trustee under the Guaranty Policy in respect of the Notes,] , as provided in this Indenture. The Issuer shall not otherwise be liable for payments on the Notes. If any other provision of this Indenture shall be deemed to conflict with the provisions of this Section 3.01, the provisions of this Section 3.01 shall control.

Payment of Principal and/or Interest. The Issuer will duly and punctually pay (or will cause to be paid duly and punctually) the principal of and interest on the Notes in accordance with the terms of the Notes Notes, this Indenture and this Indenture. Without limiting the foregoing, subject to and in accordance with Section 8.02(C) hereof, the Issuer will cause to be paid to the Noteholders all amounts on deposit in the Note Payment Account on each Payment Date deposited therein pursuant to the Sale and Servicing Agreement (less any amounts representing income from Permitted Investments) for Agreement. The Paying Agent shall notify the benefit Person in the name of which a Note is registered and the NotesIndenture Trustee at the close of business on the Record Date preceding the Payment date on which the Issuer expects that the final installment of principal of and interest on such Note will be paid. Amounts properly withheld under the Code by any Person from a payment to any Noteholder of the Noteholders of interest and/or principal shall be considered as having been paid by the Issuer [or the Securities Insurer, as applicable,] to such Noteholder for all purposes of this Indenture. The Notes shall be non-recourse obligations of the Issuer and shall be limited in right of payment to amounts available from the Collateral [and any amounts received by the Indenture Trustee under the Guaranty Policy in respect of the Notes,] Collateral, as provided in this Indenture. The Issuer shall not otherwise be liable for payments on the Notes. If any other provision of this Indenture shall be deemed to conflict with the provisions of this Section 3.01, the provisions of this Section 3.01 shall control.

Payment of Principal and/or Interest. The Issuer Issuing Entity will duly and punctually pay (or will cause to be paid duly and punctually) the principal of and interest on the Notes in accordance with the terms of the Notes and this Indenture. Without limiting the foregoing, subject to and in accordance with Section 8.02(C) hereof, the Issuer Issuing Entity will cause to be paid to the Noteholders all amounts on deposit in the Note Payment Account on each Payment Date deposited therein pursuant to the Sale and Servicing Agreement (less any amounts representing income from Permitted Investments) for the benefit of the Notes. 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 Issuing Entity [or the Securities Insurer, as applicable,] to such Noteholder for all purposes of this Indenture. The Notes shall be non-recourse obligations of the Issuer Issuing Entity and shall be limited in right of payment to amounts available from the Collateral [and any amounts received by the Indenture Trustee under the Guaranty Policy in respect of the Notes,] as provided in this Indenture. The Issuer Issuing Entity shall not otherwise be liable for payments on the Notes. If any other provision of this Indenture shall be deemed to conflict with the provisions of this Section 3.01, the provisions of this Section 3.01 shall control.

Payment of Principal and/or Interest. The Issuer will duly and punctually pay (or will cause to be paid duly and punctually) the principal of and interest on the Notes in accordance with the terms of the Notes and this Indenture. Without limiting the foregoing, subject to and in accordance with Section 8.02(CSECTION 8.02(b) and (c) hereof, the Issuer will cause to be paid to the Noteholders distributed all amounts on deposit in the Note Payment Collection Account and the Distribution Account on each applicable Payment Date deposited therein pursuant to the Sale and Servicing Agreement (less any amounts representing income from Permitted Investments) for the benefit of the NotesAgreement. 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 [or the Securities Insurer, as applicable,] to such Noteholder for all purposes of this Indenture. The Notes shall be non-recourse obligations of the Issuer and shall be limited in right of payment to amounts available from the Collateral [and any amounts received by the Indenture Trustee under the Guaranty Policy in respect of the Notes,] Collateral, as provided in this Indenture. The Issuer shall not otherwise be liable for payments on the Notes. If any other provision of this Indenture shall be deemed to conflict with the provisions of this Section SECTION 3.01, the provisions of this Section SECTION 3.01 shall control.

Payment of Principal and/or Interest. The Issuer will duly and punctually pay (or will cause to be paid duly and punctually) the principal of and interest on the Notes in accordance with the terms of the Notes and this Indenture. Without limiting the foregoing, subject to and in accordance with Section 8.02(C8.02(c) hereof, the Issuer will cause -------------- to be paid to the Noteholders all amounts on deposit in the Note Payment Account on each Payment Date deposited therein pursuant to the Sale and Servicing Agreement (less any amounts representing income from Permitted Investments) for the benefit of the Notes. 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 [or the Securities Insurer, as applicable,] , to such Noteholder for all purposes of this Indenture. The Notes shall be non-recourse obligations of the Issuer and shall be limited in right of payment to amounts available from the Collateral [and any amounts received by the Indenture Trustee under the Guaranty Policy in respect of the Notes,] , as provided in this Indenture. The Issuer shall not otherwise be liable for payments on the Notes. If any other provision of this Indenture shall be deemed to conflict with the provisions of this Section 3.01, the provisions of this Section 3.01 shall ------------ ------------ control.

Payment of Principal and/or Interest. The Issuer will duly and punctually pay (or will cause to be paid duly and punctually) the principal of and interest on the Notes in accordance with the terms of the Notes and this Indenture. Without limiting the foregoing, subject to and in accordance with Section SECTION 8.02(C) hereof, the Issuer will cause to be paid to the Noteholders all amounts on deposit in the Note Payment Account on each Payment Date deposited therein pursuant to the Sale and Servicing Agreement (less any amounts representing income from Permitted Investments) for the benefit of the Notes. 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 [or the Securities Insurer, as applicable,] to such Noteholder for all purposes of this Indenture. The Notes shall be non-recourse obligations of the Issuer and shall be limited in right of payment to amounts available from the Collateral [and any amounts received by the Indenture Trustee under the Guaranty Policy in respect of the Notes,] as provided in this Indenture. The Issuer shall not otherwise be liable for payments on the Notes. If any other provision of this Indenture shall be deemed to conflict with the provisions of this Section SECTION 3.01, the provisions of this Section SECTION 3.01 shall control.