Payments on the Notes Clause Samples

Payments on the Notes. Payments on the Notes that are to be made from amounts withdrawn from the Series 2025-7 Accounts will be made on behalf of the Trust by the Note Paying Agent. No amounts withdrawn for payments on the Notes may be paid over to the Trust, except as stated in this Section 3.3.

Payments on the Notes. (a) With respect to each Payment Date, any interest, payable on the Notes shall be paid to the Person that is the registered Holder thereof at the close of business on the related Record Date (subject to the special record date provisions of the Notes). Principal, premium, if any, and interest on the Notes shall be payable at the office or agency of the Issuer maintained for such purpose. Payments of interest, principal and other amounts on the Notes shall be made by wire transfer to such account as such Holder shall designate by written instruction received by the Indenture Trustee not later than five Business Days prior to the applicable Payment Date. Such payments shall be in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. (b) If a Note is issued in exchange for any other Note during the period commencing after close of business at the office of the Note Registrar where such exchange occurs on any Record Date and ending before the opening of business at such office of the Note Registrar on the related Payment Date, no interest, principal or other amounts will be payable on such Payment Date in respect of such new Note, but will be payable on such Payment Date only in respect of the prior Note to the Person that is the registered Holder thereof at the close of business on the related Record Date. (c) The Issuer shall pay to the Indenture Trustee funds in an amount sufficient to pay in full all amounts of interest, principal, and if any, premium due on any Payment Date, redemption date, the Maturity Date, or otherwise prior to 1:00 p.m. Eastern time on such date. (d) The Indenture Trustee shall pay each Note in full as provided herein on the Maturity Date, in immediately available funds, no later than 3:00 p.m., New York City time, on the Maturity Date (to the extent such amounts are received from the Issuer in accordance with Section 2.08(c)). Such payment to the Holder of each Note shall be made on the Maturity Date of such Note and such Holder shall present the Note promptly thereafter. The Indenture Trustee is hereby directed to establish and maintain pursuant to the terms of this Section 2.08, a non-interest bearing trust account in the name of the Issuer (such account and any successor account, even if renumbered, the “Payment Account”). All payments to be made on the Notes to or by the Indenture Trustee pursuant to this Indenture shall, as applicable, be made i...

Payments on the Notes. (a) Subject to Section 2.11(b), the applicable Issuers agree to pay: (i) on each Payment Date prior to the Rated Final Payment Date for the Classes of each Series of Notes (but only to the extent of the Available Amount pursuant to Section 2.11(b), in the case of payments of principal), interest on and principal of such Notes in the amounts and in accordance with the priorities set forth in Section 2.11(b); and (ii) on the Rated Final Payment Date for the Classes of each Series of Notes, the entire applicable Series Principal Balance, together with all accrued and unpaid interest thereon. Amounts properly withheld under the Code by any Person from a payment to any Holder of a Note of interest, principal or other amounts, or any such payment set aside on the Final Payment Date for such Note as provided in Section 2.11(b), shall be considered as having been paid by the applicable Issuers to such Noteholder for all purposes of this Indenture. (b) With respect to each Payment Date, any interest, principal and other amounts payable on the Notes shall be paid to each Person that is a registered holder thereof at the close of business on the related Record Date; provided, however, that interest, principal and other amounts payable at the Final Payment Date of any Note shall be payable only against surrender thereof at the Indenture Trustee’s Office or such other address as may be specified in the notice of final payment. Payments of interest, principal and other amounts on the Notes shall be made on each Payment Date other than the Final Payment Date, subject to Applicable Law, by wire transfer to such accounts as each such Noteholder shall designate by written instruction received by the Indenture Trustee not later than the Record Date related to such Payment Date or otherwise by check mailed on or before such Payment Date to the Person entitled thereto at such Person’s address appearing on the Note Register as of the related Record Date. The Indenture Trustee shall pay each Note in whole or in part as provided herein on its Final Payment Date in immediately available funds from funds in the Payment Account as promptly as possible after presentation to the Indenture Trustee of such Note at the Indenture Trustee’s Office, but in no event later than the next Business Day after the day of such presentation. If presentation is made after 3:30 p.m., New York City time, on any day, such presentation shall be deemed to have been made on the immediately succeeding Busin...

Payments on the Notes. (a) (I) On each Payment Date, the Indenture Trustee shall withdraw from the Note Payment Account an amount equal to the Amount Available for such Payment Date and pay the following amounts, in the following order of priority: (i) (A) to the Indenture Trustee, the Indenture Trustee Fee for such Payment Date and any indemnities and reimbursements ( collectively, "amounts") (such amounts subject 41 to a cap of $100,000 per annum) due to the Indenture Trustee and (B) commencing on the 13th Payment Date, to the Owner Trustee, the Owner Trustee Fee for such Payment Date; (ii) the Monthly Backup Servicing Fee for such Payment Date to the Backup Servicer; (iii) concurrently, to each Class of Class A Notes, the related Interest Payment Amount for such Payment Date, pro rata based on the Interest Payment Amount each Class is entitled to receive, with any shortfall in the Amount Available being allocated pro rata on that basis; (iv) to the Holders of the Class M-1 Notes, an amount equal to the Interest Payment Amount due to the Class M-1 Notes on such Payment Date; (v) to the Holders of the Class M-2 Notes, an amount equal to the Interest Payment Amount due to the Class M-2 Notes on such Payment Date; (vi) to the Class A Notes, the Class A Principal Payment Amount for such Payment Date sequentially in the following order of priority: (A) to the Class A-1 Notes, until the Note Principal Balance of the Class A-1 Notes has been reduced to zero; (B) to the Class A-2 Notes, until the Note Principal Balance of the Class A-2 Notes has been reduced to zero; (C) to the Class A-3 Notes, until the Note Principal Balance of the Class A-3 Notes has been reduced to zero; and (D) to the Class A-4 Notes, until the Note Principal Balance of the Class A-4 Notes has been reduced to zero; (vii) to the Class M-1Notes, as follows: (A) the Class M-1 Liquidation Loss Interest Amount for such Payment Date; (B) the Class M-1 Principal Payment Amount for such Payment Date; (viii) to the Class M-2Notes, as follows: (A) the Class M-2 Liquidation Loss Interest Amount for such Payment Date; (B) the Class M-2 Principal Payment Amount for such Payment Date; (ix) to the Class A-4 Notes, the Class M-1 Notes and the Class M-2 Notes, in that order, the related Available Funds Cap Carry-Forward Amount for such Payment Date; (x) to the Indenture Trustee, any amounts incurred in excess of the amount set forth in clause (i) above, without regard to the annual cap on such amounts; (xi) to the Servicer and th...

Payments on the Notes. Payments on the Notes will not depend primarily on cash flow from self-liquidating financial assets within the meaning of Section 3(a)(79) of the Exchange Act.

Payments on the Notes. The Issuer shall make payments of principal of and interest on the Notes when due; provided that prior to the Maturity Date, interest shall accrue on the principal amount of the Notes until such time as the principal amount is paid off in accordance with the terms of this Agreement. Interest shall be compounded annually on each anniversary of the applicable issuance date for such Note and shall be added at such time to, and thereafter be a part of and treated as principal of the applicable Notes (regardless of whether evidenced by a Note) (“PIK Interest”) and shall be payable on the Maturity Date.

Payments on the Notes. (a) Subject to the availability of funds and to the Priority of Payments, the Notes will provide for (i) the payment of Accrued Interest on each Payment Date through the Rated Final Maturity Date and (ii) (A) absent the occurrence and continuation of a Rapid Amortization Event, the payment of the Principal Distribution Amount on each Payment Date until the earlier of the date on which all Notes are paid in full or the Rated Final Maturity Date or (B) if a Rapid Amortization Event has occurred and is continuing, the payment of all Available Funds remaining after the application of clause “EIGHTH” in subsection 3.1(a) in respect of principal until the earlier of the date on which all Notes are paid in full or the Rated Final Maturity Date. All outstanding principal of the Notes will be due and payable (unless paid on an earlier date) on the Rated Final Maturity Date. (b) Interest and principal payable in respect of the Notes of any Class on any Payment Date shall be paid to the Holders of the Notes of such Class as of the related Record Date; provided, however, that the Insurer will be subrogated to the rights of each Noteholder to receive payments of principal and interest, as applicable, with respect to distributions on the Notes to the extent of any payment by the Insurer under the Insurance Policy and the Insurer will be reimbursed therefor, together with interest thereon as provided in the Insurance Agreement in accordance with Sections 3.1 and 11.7. (c) All reductions in the principal amount of a Note (or one or more predecessor Notes) effected by payments of installments of principal made on any Payment Date shall be binding upon all future Holders of such Note and of any Note issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof, whether or not such payment is noted on such Note; provided, however, that any installment of principal that (i) is subsequently rescinded or recaptured or (ii) is paid by the Insurer as a result of a draw under the Insurance Policy shall not be considered paid by the Issuer. (d) Notwithstanding any other provision of this Indenture, principal of, interest on and all other amounts payable on or in respect of the Notes will constitute limited recourse obligations of the Issuer secured by, and payable from and to the extent of available proceeds of, the Collateral and any amounts paid by the Insurer pursuant to claims made under the Insurance Policy. The Holders of the Notes shall have rec...

Payments on the Notes. Payments on the Notes that are to be made from amounts withdrawn from the Series [_]-[_] Accounts will be made on behalf of the Trust by the Note Paying Agent. No amounts withdrawn for payments on the Notes may be paid over to the Trust, except as stated in this Section 3.3.

Payments on the Notes. The Company shall pay the principal of and interest and Liquidated Damages, if any, on the Notes on the dates and in the manner provided in the Notes. Principal, interest, Liquidated Damages, if any, Redemption Price, Purchase Price and Designated Event Repurchase Price, as applicable, shall be considered paid on the date due if the Trustee or Paying Agent (other than the Company or a subsidiary of the Company) holds as of 10:00 a.m., New York City time, on that date immediately available funds designated for and sufficient to pay all principal, interest, Liquidated Damages, if any, Redemption Price, Purchase Price or the Designated Event Repurchase Price then due. To the extent lawful, the Company shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on (i) overdue principal, at the rate borne by the Notes, compounded semiannually; and (ii) overdue installments of interest and Liquidated Damages, if any (without regard to any applicable grace period) at the same rate, compounded semiannually.