Principal Deficiency Ledger. 9.1 The Issuer Cash Manager shall ensure that any amount debited to the Issuer Principal Ledger under 9.2 The Issuer Cash Manager shall make the records on the Principal Deficiency Ledger in accordance with Clause 4.5(a)(iv) and ensure that the entries on the Principal Deficiency Ledger shall be made in the following order: (a) firstly, on the Class Z Notes Principal Deficiency Sub-Ledger until the balance of such sub- ledger is equal to the aggregate principal amount outstanding of all the Class Z Notes; and (b) secondly, on the Class A Notes Principal Deficiency Sub-Ledger in respect of the Class A Notes, at which point there will be an Asset Trigger Event (unless it is cured on that Interest Payment Date through the application of available Issuer Revenue Receipts).
Appears in 3 contracts
Samples: Issuer Cash Management Agreement, Issuer Cash Management Agreement, Issuer Cash Management Agreement
