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 distributed all amounts on deposit in the Note Payment Account on each Payment Date deposited therein pursuant to the Sale and Servicing Agreement (i) for the benefit of the Class A-1 Notes, to the Class A-1 Noteholders, (ii) for the benefit of the Class A-2 Notes, to the Class A-2 Noteholders, (iii) for the benefit of the Class A-3 Notes, to the Class A-3 Noteholders, (iv) for the benefit of the Class A-4 Notes, to the Class A-4 Noteholders, (v) for the benefit of the Class A-4 IO Notes, to the Class A-4 IO Noteholders, (vi) for the benefit of the Class M-1 Notes, to the Class M-1 Noteholders, (vii) for the benefit of the Class M-2 Notes, to the Class M-2 Noteholders, (viii) for the benefit of the Class B-1 Notes, to the Class B-1 Noteholders and (ix) for the benefit of the Class B-2 Notes, to the Class B-2 Noteholders. 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 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, 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(c) hereof, the Issuer will cause to be distributed all amounts on deposit in the Note Payment Account on each Payment Date deposited therein pursuant to the Sale and Servicing Agreement (i) for the benefit of the Class A-1 Notes, to the Class A-1 Noteholders, (ii) for the benefit of the Class A-2 Notes, to the Class A-2 Noteholders, (iii) for the benefit of the Class A-3 Notes, to the Class A-3 Noteholders, (iv) for the benefit of the Class A-4 Notes, to the Class A-4 Noteholders, (v) for the benefit of the Class A-4 IO A-5 Notes, to the Class A-4 IO A-5 Noteholders, (vi) for the benefit of the Class M-1 Notes, to the Class M-1 Noteholders, (vii) for the benefit of the Class M-2 Notes, to the Class M-2 Noteholders, (viii) for the benefit of the Class B-1 Notes, to the Class B-1 Noteholders and (ix) for the benefit of the Class B-2 Notes, to the Class B-2 Noteholders. 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 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, 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(cSECTION 8.02(C) hereof, the Issuer will cause to be distributed all paid to the Noteholders the Available Payment Amount from amounts on deposit in the Note Payment Account on each Payment Date deposited therein pursuant to the Sale and Servicing Agreement (i) for the benefit of the Class A-1 Notes, to the Class A-1 Noteholders, (ii) for the benefit of the Class A-2 Notes, to the Class A-2 Noteholders, (iii) for the benefit of the Class A-3 Notes, to the Class A-3 Noteholders, (iv) for the benefit of the Class A-4 Notes, to the Class A-4 Noteholders, (v) for the benefit of the Class A-4 IO A-5 Notes, to the Class A-4 IO A-5 Noteholders, (vi) for the benefit of the Class M-1 Notes, to the Class M-1 Noteholders, (vii) for the benefit of the Class M-2 Notes, to the Class M-2 Noteholders, (viii) for the benefit of the Class B-1 Notes, to the Class B-1 Noteholders and (ix) for the benefit of the Class B-2 Notes, to the Class B-2 Noteholders. 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 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, 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(c) hereof, the Issuer will cause to be distributed all amounts on deposit in the Note Payment Account on each Payment Date deposited therein pursuant to the Sale and Servicing Agreement (i) for the benefit of the Class A-1 Notes, to the Class A-1 Noteholders, (ii) for the benefit of the Class A-2 Notes, to the Class A-2 Noteholders, (iii) for the benefit of the Class A-3 Notes, to the Class A-3 Noteholders, (iv) for the benefit of the Class A-4 Notes, to the Class A-4 Noteholders, (v) for the benefit of the Class A-4 IO Notes, to the Class A-4 IO Noteholders, (vi) for the benefit of the Class M-1 Notes, to the Class M-1 Noteholders, (viivi) for the benefit of the Class M-2 Notes, to the Class M-2 Noteholders, Noteholders and (viiivii) for the benefit of the Class B-1 B Notes, to the Class B-1 Noteholders and (ix) for the benefit of the Class B-2 Notes, to the Class B-2 B Noteholders. 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 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, 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(c) hereof, the Issuer will cause to be distributed all amounts on deposit in the Note Payment Distribution Account on each Payment Distribution Date deposited therein pursuant to the Sale and Servicing Agreement (i) for the benefit of the Class A-1 Notes, to the Class A-1 Noteholders, (ii) for the benefit of the Class A-2 Notes, to the Class A-2 Noteholders, (iii) for the benefit of the Class A-3 Notes, to the Class A-3 Noteholders, (iv) for the benefit of the Class A-4 Notes, to the Class A-4 Noteholders, (v) for the benefit of the Class A-4 IO A-5 Notes, to the Class A-4 IO A-5 Noteholders, (vi) for the benefit of the Class X-1A Notes, to the Class X-1A Noteholders, (vii) for the benefit of the Class X-1B Notes, to the Class X-1B Noteholders, (viii) for the benefit of the Class X-1C Notes, to the Class X-1C Noteholders, (ix) for the benefit of the Class M-1 Notes, to the Class M-1 Noteholders, (viix) for the benefit of the Class M-2 Notes, to the Class M-2 Noteholders, (viiixi) for the benefit of the Class B-1 Notes, to the Class B-1 Noteholders and (ixxii) for the benefit of the Class B-2 Notes, to the Class B-2 Noteholders. 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 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, 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(c) hereof, the Issuer will cause to be distributed all amounts on deposit in the Note Payment Account on each Payment Date deposited therein pursuant to the Sale and Servicing Agreement (i) for the benefit of the Class A-1 Notes, to the Class A-1 Noteholders, (ii) for the benefit of the Class A-2 Notes, to the Class A-2 Noteholders, (iii) for the benefit of the Class A-3 Notes, to the Class A-3 Noteholders, (iv) for the benefit of the Class A-4 Notes, to the Class A-4 Noteholders, (v) for the benefit of the Class A-4 A-5 Notes, to the Class A-5 Noteholders, (vi) for the benefit of the Class A-6 Notes, to the Class A-6 Noteholders, (vii) for the benefit of the Class A-IO Notes, to the Class A-4 A-IO Noteholders, (viviii) for the benefit of the Class M-1 Notes, to the Class M-1 Noteholders, (viiix) for the benefit of the Class M-2 Notes, to the Class M-2 Noteholders, (viiix) for the benefit of the Class B-1 Notes, to the Class B-1 Noteholders and (ixxi) for the benefit of the Class B-2 Notes, to the Class B-2 Noteholders. 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 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, 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.