Payments at Stated Maturity. Notwithstanding Section 7.05(a) or Section 7.05(b), to the extent that following the payments set forth above, any amounts would remain outstanding on any Class of Notes on the Maturity Date of such Class of Notes, the Indenture Trustee shall apply all remaining Available Funds to payment of principal on such Class of Notes prior to making any payment or allocation set forth above to any Class of Notes which is lower in priority than payment of interest on such Class of Notes.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (CIT Equipment Collateral 2006-Vt1), Pooling and Servicing Agreement (Cit Funding Co, LLC), Pooling and Servicing Agreement (Cit Equipment Collateral 2006-Vt2)
Payments at Stated Maturity. Notwithstanding Section 7.05(a) or Section 7.05(b), to the extent that following the payments set forth above, any amounts would remain outstanding on any Class of Notes on the Maturity Date of such Class of Notes, the Indenture Trustee shall apply all remaining Available Funds to payment of principal on such Class of Notes prior to making any payment or allocation set forth above to any Class of Notes which is lower in priority than payment of interest on such Class of Notes.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Cit Funding Co, LLC), Pooling and Servicing Agreement (Cit Funding Co, LLC), Pooling and Servicing Agreement (CIT Equipment Collateral 2005-Ef1)
