Principal Supplement Account Sample Clauses

Principal Supplement Account. On each Subsequent Transfer Date the Servicer shall calculate the amount, if any, of the Principal Supplement Account Deposit applicable to such Subsequent Transfer Date, and, if such amount is positive, the Seller shall deposit such amount into the Principal Supplement Account (subject to the proviso set forth in Section 5.1(a)(vi)). In the event that the sum of (x) the Noteholders’ Distributable Amount for a Payment Date, (y) the Net Swap Payments (including interest on any overdue Net Swap Payments) for a Payment Date, if any, and (z) the Swap Termination Payments payable by the Issuer, if any, exceeds the amount deposited into the Note Distribution Account pursuant to Sections 5.6(b)(iii), (iv), (v), (vi) and (vii) on such Payment Date and Section 5.7(d) on such Payment Date, the Servicer shall instruct the Indenture Trustee on such Payment Date to withdraw from the Principal Supplement Account on such Payment Date an amount equal to such excess, to the extent of funds available therein, and deposit such amount into the Note Distribution Account. In the event that the Class Principal Distributable Amount for any Class of Notes for the applicable final scheduled maturity date for such Class of Notes exceeds the remainder of the Total Distribution Amount and the amounts available in the Spread Account pursuant to Section 5.7(e) for that Payment Date after subtracting the Class Principal Distributable Amount for each Class of Notes having priority over such Class of Notes, the Servicer shall instruct the Indenture Trustee on such Payment Date to withdraw from the Principal Supplement Account on such Payment Date an amount equal to such excess, to the extent of funds available therein, and deposit such amount into the Note Distribution Account. Funds on deposit in the Principal Supplement Account may be withdrawn and paid to the Seller on any day if each Rating Agency has confirmed that such action will not result in a withdrawal or downgrade of its rating of any Class of Notes.

Principal Supplement Account. On each Subsequent Transfer Date the Servicer shall calculate the amount, if any, of the Principal Supplement Account Deposit applicable to such Subsequent Transfer Date, and, if such amount is positive, the Seller shall deposit such amount into the Principal Supplement Account. In the event that the Noteholders' Distributable Amount for a Payment Date exceeds the amount deposited into the Note Distribution Account pursuant to Sections 5.5(b)(ii), (iii), (iv) and (v) and Section 5.6(d) on such Payment Date, the Servicer shall instruct the Indenture Trustee on such Payment Date to withdraw from the Principal Supplement Account on such Payment Date an amount equal to such excess, to the extent of funds available therein, and deposit such amount into the Note Distribution Account. In the event that the Class Principal Distributable Amount for any Class of Notes for the applicable final scheduled maturity date for such Class of Notes exceeds the remainder of the Total Distribution Amount and the amounts available in the Spread Account pursuant to Section 5.6(e) for that Payment Date after subtracting the Class Principal Distributable Amount for each Class of Notes having priority over such Class of Notes, the Servicer shall instruct the Indenture Trustee on such Payment Date to withdraw from the Principal Supplement Account on such Payment Date an amount equal to such excess, to the extent of funds available therein, and deposit such amount into the Note Distribution Account. Funds on deposit in the Principal Supplement Account may be withdrawn and paid to the Seller on any day if each Rating Agency has confirmed that such action will not result in a withdrawal or downgrade of its rating of any Class of Notes.

Principal Supplement Account. On each Subsequent Transfer Date the Servicer shall calculate the amount, if any, of the Principal Supplement Account Deposit applicable to such Subsequent Transfer Date, and, if such amount is positive, the Seller shall deposit such amount into the Principal Supplement Account (subject to the proviso set forth in Section 5.1(a)(vi)). In the event that the First Principal Payment Amount and the Noteholders’ Distributable Amount for a Payment Date exceeds the amount deposited into the Note Distribution Account pursuant to Sections 5.6(b)(iv), (v), (vi), (vii) and (viii) on such Payment Date and Section 5.7(d) on such Payment Date, the Servicer shall instruct the Indenture Trustee on such Payment Date to withdraw from the Principal Supplement Account on such Payment Date an amount equal to such excess, to the extent of funds available therein, and deposit such amount into the Note Distribution Account. Funds on deposit in the Principal Supplement Account may be withdrawn and paid to the Seller on any day if each Rating Agency has confirmed that such action will not result in a withdrawal or downgrade of its rating of any Class of Notes.

Principal Supplement Account. On each Subsequent Transfer Date the Servicer shall calculate the amount, if any, of the Principal Supplement Account Deposit applicable to such Subsequent Transfer Date, and, if such amount is positive, the Seller shall deposit such amount into the Principal Supplement Account (subject to the proviso set forth in Section 5.1(a)(vi)). In the event that the sum of (x) the Noteholders’ Distributable Amount for a Payment Date, (y) the Net Swap Payment (including interest on any overdue Net Swap Payment) for a Payment Date, if any, and (z) the Swap Termination Payment payable by the Issuer, if any, exceeds the amount deposited into the Note Distribution Account pursuant to Sections 5.6(b)(iv),

Principal Supplement Account. On each Subsequent Transfer Date the Servicer shall calculate the amount, if any, of the Principal Supplement Account Deposit applicable to such Subsequent Transfer Date, and, if such amount is positive, the Seller shall deposit such amount into the Principal Supplement

Principal Supplement Account. Required Principal Supplement Account Balance Beginning Principal Supplement Account Balance Additional Deposit to Principal Supplement Account from Pre-funding Principal Supplement Account Withdrawals to Distribution Account Principal Supplement Account Released to Seller Ending Principal Supplement Account Balance Beginning Pre-funding Account Balance New Contract Value Purchased Deposits to Spread Account Deposits to Principal Supplement Account Release to Seller for Purchased Amount Excess Release to Noteholders for Unpurchased Amount Ending Pre-funding Account Balance Initial Purchase Subsequent Purchase #1 Subsequent Purchase #2 Backup Servicer Account Initial Deposit Backup Servicer Account Beginning Balance Backup Servicer Account Expenses Backup Servicer Account Investment Earnings Backup Servicer Account Investment Earnings - Released to Seller Total Release to Seller “The Administrator hereby directs the Indenture Trustee to pay on the Payment Date set forth above from the Certificate Distribution Account to the Certificateholders, on a pro rata basis, zero payment.” [ ]-[ ] [ ]-[ ] [ ]-[ ] Second Prior Month Delinquency Ratio Prior Month Delinquency Ratio Current Month Delinquency Ratio Current Distribution Date