Common use of Principal Account Clause in Contracts

Principal Account. In making the payments, deposits and credits required by subsections (A), (B) and (C) of this Section 4.7.2, an amount deposited and credited or required to be deposited and credited to the Principal Account representing premium on Term Notes paid as part of the purchase price thereof and any other deposits and credits otherwise made or required to be made to the Principal Account shall, to the extent available for such purpose, be taken into consideration and allowed for. The Trustee shall also deposit to the credit of Principal Account: (i) that portion of the proceeds from the sale of Financed Student Loans as is specified in Section 4.2 hereof, (ii) that portion of the proceeds from the sale of the Corporation's bonds, notes or other evidences of indebtedness, if any, to be used to pay principal of the Class A Notes and the Class B Notes on a Principal Payment Date, (iii) all payments under any Credit Enhancement Facility or Demand Purchase Agreement to be used to pay principal of Class A Notes or Class B Notes or the purchase price of Class A Notes or Class B Notes to be purchased on a Purchase Date or Mandatory Tender Date, and (iv) all amounts required to be transferred thereto from the Funds and Accounts specified in subsection (D) of this Section 4.7.

Principal Account. In making the payments, deposits and credits required by subsections (A), (B) and (C) of this Section 4.7.2, an amount deposited and credited or required to be deposited and credited to the Principal Account representing premium on Term Notes paid as part of the purchase price thereof and any other deposits and credits otherwise made or required to be made to the Principal Account shall, to the extent available for such purpose, be taken into consideration and allowed for. The Trustee shall also deposit to the credit of Principal Account: (i) that portion of the proceeds from the sale of Financed Student Loans as is specified in Section 4.2 hereof, (ii) that portion of the proceeds from the sale of the Corporation's bonds, notes or other evidences of indebtedness, if any, to be used to pay principal of the Class A Notes and the Class B Notes on a Principal Payment Date, (iii) all payments under any Credit Enhancement Facility or Demand Purchase Agreement to be used to pay principal of Class A Notes or Class B Notes or the purchase price of Class A Notes or Class B Notes to be purchased on a Purchase Date or Mandatory Tender Date, and (iv) all amounts required to be transferred thereto from the Funds and Accounts specified in subsection (D) of this Section 4.74.7.2.

Principal Account. In making the payments, deposits and credits required by subsections (A), (B) and (C) of this Section 4.7.2, an amount deposited and credited or required to be deposited and credited to the Principal Account representing premium on Term Notes paid as part of the purchase price thereof and any other deposits and credits otherwise made or required to be made to the Principal Account shall, to the extent available for such purpose, be taken into consideration and allowed for. The Trustee shall also deposit to the credit of Principal Account: (i) that portion of the proceeds from the sale of Financed Student Loans as is specified in Section 4.2 hereof, (ii) that portion of the proceeds from the sale of the Corporation's bonds, notes or other evidences of indebtedness, if any, to be used to pay principal of the Class A Notes and the Class B Notes on a Principal Payment Date, (iii) all payments under any Credit Enhancement Facility or Demand Purchase Agreement to be used to pay principal of Class A Notes or Class B Notes or the purchase price of Class A Notes or Class B Notes to be purchased on a Purchase Date or Mandatory Tender Date, and (iv) all amounts required to be transferred thereto from the Funds and Accounts specified in subsection (D) of this Section 4.7.Purchase