Common use of Payments of Outstanding Interest Clause in Contracts

Payments of Outstanding Interest. Following the payment of Available Funds on any Payment Date in accordance with the priority of payment set forth above, if any Class A-1 Interest Payment Amount, Class A-2 Interest Payment Amount, Class A-3 Interest Payment Amount, Class A-4 Interest Payment Amount, Class B Interest Payment Amount, Class C Interest Payment Amount, or Class D Interest Payment Amount remains outstanding, the Indenture Trustee shall apply any other amounts of cash available on deposit in the Collection Account to satisfy any such interest payment obligations in accordance with the priority set forth above in Section 7.05(a) or 7.05(b)

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Cit Funding Co, LLC), Pooling and Servicing Agreement (CIT Equipment Collateral 2006-Vt1)

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Payments of Outstanding Interest. Following the payment of Available Funds on any Payment Date in accordance with the priority of payment set forth above, if any Class A-1 Interest Payment Amount, Class A-2 A-2A Interest Payment Amount, Class A-2B Interest Payment Amount, Class A-3 Interest Payment Amount, Class A-4 Interest Payment Amount, Class B Interest Payment Amount, Class C Interest Payment Amount, or Class D Interest Payment Amount remains outstanding, the Indenture Trustee shall apply any other amounts of cash available on deposit in the Collection Account to satisfy any such interest payment obligations in accordance with the priority set forth above in Section 7.05(a) or 7.05(b).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CIT Equipment Collateral 2008-Vt1)

Payments of Outstanding Interest. Following the payment of Available Funds on any Payment Date in accordance with the priority of payment set forth above, if any Class A-1 [__] Interest Payment Amount, Class A-2 [__] Interest Payment Amount, Class A-3 [__] Interest Payment Amount, Class A-4 [__] Interest Payment Amount, Class B [__] Interest Payment Amount, Class C Interest Payment Amount, or Class D Interest Payment Amount remains outstanding, the Indenture Trustee shall apply any other amounts of cash available on deposit in the Collection Account to satisfy any such interest payment obligations in accordance with the priority set forth above in Section 7.05(a) or 7.05(b)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Ace Securities Corp)

Payments of Outstanding Interest. Following the payment of Available Funds on any Payment Date in accordance with the priority of payment set forth above, if any Class A-1 Interest Payment Amount, Class A-2 Interest Payment Amount, Class A-3 Interest Payment Amount, Class A-4 Interest Payment Amount, Class B Interest Payment Amount, Class C Interest Payment Amount, or Class D Interest Payment Amount remains outstanding, the Indenture Trustee shall apply any other amounts of cash available on deposit in the Collection Account to satisfy any such interest payment obligations in accordance with the priority set forth above in Section 7.05(a) or 7.05(b).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Cit Equipment Collateral 2006-Vt2)

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Payments of Outstanding Interest. Following the payment of Available Funds on any Payment Date in accordance with the priority of payment set forth above, if any Class A-1 Interest Payment Amount, Class A-2 Interest Payment Amount, Class A-3 X- 0 Interest Payment Amount, Class A-4 Interest Payment Amount, Class B Interest Payment Amount, Class C Interest Payment Amount, or Class D Interest Payment Amount remains outstanding, the Indenture Trustee shall apply any other amounts of cash available on deposit in the Collection Account to satisfy any such interest payment obligations in accordance with the priority set forth above in Section 7.05(a) or 7.05(b).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Cit Funding Co, LLC)

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