Payments to the Holder of the Exchangeable Transferor Certificate Sample Clauses

Payments to the Holder of the Exchangeable Transferor Certificate. On each Business Day, the Servicer shall determine whether a Pay Out Event is deemed to have occurred with respect to the Series 1995-1 Certificates, and the Servicer shall allocate and pay Collections in accordance with the Daily Report with respect to such Business Day to the Holder of the Exchangeable Transferor Certificate as follows:
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Payments to the Holder of the Exchangeable Transferor Certificate. On each Business Day, the Servicer shall determine whether a Pay Out Event is deemed to have occurred with respect to the Series 1998-A Certificates, and the Servicer shall allocate and pay Collections in accordance with the Daily Report with respect to such Business Day to the Holder of the Exchangeable Transferor Certificate as follows:
Sample 1See All (6)
Payments to the Holder of the Exchangeable Transferor Certificate. The Servicer may apply amounts allocated to the Holder of the Exchangeable Transferor Certificate in accordance with Section 4.3(c) unless as a result thereof the Transferor Interest would be less than the Aggregate Minimum Transferor Interest, in which case such amounts shall be deposited in the Excess Funding Account to the extent necessary to cause the Transferor Interest to at least equal the Aggregate Minimum Transferor Interest (such deposits into the Excess Funding Account to be made first, from such amounts constituting Collections of Principal Receivables, and second, from such amounts constituting Collections of Finance Charge Receivables); provided, however, that to the extent that on any day on which any Collections are deposited in the Collection Account, an event described in clause (i) of the definition of Cap Replacement Event shall have occurred and a Replacement Interest Rate Cap shall not have been entered into, the Servicer shall retain in the Collection Account an amount equal to the product of (x) the Series Percentage, (y) the Transferor Percentage and (z) the aggregate amount of Collections allocated to Principal Receivables and to Finance Charge Receivables on such date for application (i) to the payment of any amount required to be paid to the provider of such Replacement Interest Rate Cap in connection with the implementation thereof (such retained collections of Finance Charge Receivables to be so applied first followed by such retained Collections of Principal Receivables) until paid in full and (ii) on each Distribution Date with respect to the Amortization Period as Available Funds (in the case of any such retained Collections of Finance Charge Receivables) and as Available Principal Collections (in the case of any such retained Collections of Principal Receivables). Upon the implementation of a Replacement Interest Rate Cap any such retained funds shall be released to the Holder of the Exchangeable Transferor Certificate.
Sample 1
Payments to the Holder of the Exchangeable Transferor Certificate. On each Date of Processing, the Master Servicer shall determine whether a Pay Out Event is deemed to have occurred with respect to the Investor Certificates. If no Pay Out Event has occurred, the Master Servicer shall allocate Collections with respect to such Date of Processing to the Holder of the Exchangeable Transferor Certificate as follows:
Sample 1
Payments to the Holder of the Exchangeable Transferor Certificate. On each Business Day, the Servicer shall allocate and pay Collections in accordance with the Daily Report with respect to such Business Day to the Holder of the Exchangeable Transferor Certificate in accordance with subsection 4.3(b) of the Agreement. Notwithstanding the foregoing, amounts payable to the Transferor pursuant to this subsection 4.5(b) shall instead be deposited in the Excess Funding Account to the extent necessary to prevent the Transferor Interest from being less than the Minimum Transferor Interest.
Sample 1

Related to Payments to the Holder of the Exchangeable Transferor Certificate

  • Trust Certificates and Transfer of Interests Section 3.01 [Reserved].

  • Transfer of Interest Amount The Transfer of the Interest Amount will be made on the second Local Business Day following the end of each calendar month and on any other Local Business Day on which Posted Collateral in the form of Cash is Transferred to the Pledgor pursuant to Paragraph 3(b); provided, however, that the obligation of Party B to Transfer any Interest Amount to Party A shall be limited to the extent that Party B has earned and received such funds and such funds are available to Party B.

  • Transfer Restricted Definitive Notes to Beneficial Interests in Transfer Restricted Global Notes If any holder of a Transfer Restricted Definitive Note proposes to exchange such Transfer Restricted Definitive Note for a beneficial interest in a Transfer Restricted Global Note or to transfer such Transfer Restricted Definitive Note to a Person who takes delivery thereof in the form of a beneficial interest in a Restricted Global Note, then, upon receipt by the Registrar of the following documentation:

  • Supplemental Agreements Without Consent of Applicable Certificateholders Without limitation of Section 9.01 of the Basic Agreement, under the terms of, and subject to the limitations contained in, Section 9.01 of the Basic Agreement, the Company may (but will not be required to), and the Trustee (subject to Section 9.03 of the Basic Agreement) shall, at the Company's request, at any time and from time to time, (i) enter into one or more agreements supplemental to the Escrow Agreement, the NPA or the Deposit Agreement, for any of the purposes set forth in clauses (1) through (9) of such Section 9.01, and (without limitation of the foregoing or Section 9.01 of the Basic Agreement) (a) clauses (2) and (3) of such Section 9.01 shall also be deemed to include the Company's obligations under (in the case of clause (2)), and the Company's rights and powers conferred by (in the case of clause (3)), the NPA, and (b) references in clauses (4), (6) and (7) of such Section 9.01 to "any Intercreditor Agreement or any Liquidity Facility" shall also be deemed to refer to "the Intercreditor Agreement, the Liquidity Facility, the Escrow Agreement, the NPA or the Deposit Agreement" and (ii) enter into one or more agreements supplemental to this Agreement to provide for the formation of a Class D Trust, the issuance of Class D Certificates, the purchase by the Class D Trust of Equipment Notes and other matters incidental thereto or otherwise contemplated by Section 2.01(b) of the Basic Agreement.

  • Residual Interest and Transfer of Interests 6 Section 3.1. The Residual Interest. 6

  • Transfer Restricted Definitive Notes to Beneficial Interests in Unrestricted Global Notes A holder of a Transfer Restricted Definitive Note may exchange such Transfer Restricted Definitive Note for a beneficial interest in an Unrestricted Global Note or transfer such Transfer Restricted Definitive Note to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note only if the Registrar receives the following:

  • Certificates Issuable in Classes; Distributions of Principal and Interest; Authorized Denominations The aggregate principal amount of the Certificates that may be authenticated and delivered under this Agreement is limited to the aggregate Principal Balance of the Mortgage Loans as of the Cut-Off Date, as specified in the Preliminary Statement to this Agreement, except for Certificates authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Certificates pursuant to Section 5.03. Such aggregate principal amount shall be allocated among one or more Classes having designations, types of interests, initial per annum Certificate Interest Rates, initial Class Principal Balances and Final Maturity Dates as specified in the Preliminary Statement to this Agreement. The aggregate Percentage Interest of each Class of Certificates of which the Class Principal Balance equals zero as of the Cut-Off Date that may be authenticated and delivered under this Agreement is limited to 100%. Certificates shall be issued in Authorized Denominations.

  • Restrictions on Transfer of a Definitive Note for a Beneficial Interest in a Global Note A Definitive Note may not be exchanged for a beneficial interest in a Global Note except upon satisfaction of the requirements set forth below. Upon receipt by the Trustee of a Definitive Note, duly endorsed or accompanied by a written instrument of transfer in form reasonably satisfactory to the Company and the Registrar, together with:

  • Unrestricted Definitive Notes to Beneficial Interests in Transfer Restricted Global Notes An Unrestricted Definitive Note cannot be exchanged for, or transferred to a Person who takes delivery thereof in the form of, a beneficial interest in a Transfer Restricted Global Note.

  • Continuing Security Interest; Transfer of Notes This Security Agreement shall create a continuing security interest in the Collateral and shall

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