Common use of Release of Funds Clause in Contracts

Release of Funds. On the Redemption Date, the outstanding Note Balance of the Notes plus accrued and unpaid interest, any unpaid Additional Interest Amounts and any unpaid Make-Whole Payments on the Notes will become due and payable and interest on the Notes will cease to accrue from and after the Redemption Date, unless the Trust fails to pay the Notes on the Redemption Date. On redemption, the Indenture Trustee will release the Series 2022-2 Collateral from the Lien of this Indenture and release to the Trust or any other Person entitled to funds then in the Series 2022-2 Accounts under this Indenture according to Section 8.4(c).

Appears in 2 contracts

Samples: Indenture (Verizon Master Trust), Indenture Agreement (Verizon Master Trust)

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Release of Funds. On the Redemption Date, the outstanding Note Balance of the Notes plus accrued and unpaid interest, any unpaid Additional Interest Amounts and any unpaid Make-Whole Payments on the Notes will become due and payable and interest on the Notes will cease to accrue from and after the Redemption Date, unless the Trust fails to pay the Notes on the Redemption Date. On redemption, the Indenture Trustee will release the Series 20222021-2 1 Collateral from the Lien of this Indenture and release to the Trust or any other Person entitled to funds then in the Series 20222021-2 1 Accounts under this Indenture according to Section 8.4(c).

Appears in 2 contracts

Samples: Indenture (Verizon Master Trust), Indenture (Verizon Master Trust)

Release of Funds. On the Redemption Date, the outstanding Note Balance of the Notes plus accrued and unpaid interest, any unpaid Additional Interest Amounts and any unpaid Make-Whole Payments on the Notes will become due and payable and interest on the Notes will cease to accrue from and after the Redemption Date, unless the Trust fails to pay the Notes on the Redemption Date. On redemption, the Indenture Trustee will release the Series 2022-2 3 Collateral from the Lien of this Indenture and release to the Trust or any other Person entitled to funds then in the Series 2022-2 3 Accounts under this Indenture according to Section 8.4(c).

Appears in 2 contracts

Samples: Indenture (Verizon Master Trust), Indenture (Verizon Master Trust)

Release of Funds. On the Redemption Date, the outstanding Note Balance of the Notes plus accrued and unpaid interest, any unpaid Additional Interest Amounts and any unpaid Make-Whole Payments on the Notes will become due and payable and interest on the Notes will cease to accrue from and after the Redemption Date, unless the Trust fails to pay the Notes on the Redemption Date. On redemption, the Indenture Trustee will release the Series 20222023-2 1 Collateral from the Lien of this Indenture and release to the Trust or any other Person entitled to funds then in the Series 20222023-2 1 Accounts under this Indenture according to Section 8.4(c).

Appears in 2 contracts

Samples: Indenture (Verizon Master Trust), Indenture Agreement (Verizon Master Trust)

Release of Funds. On the Redemption Date, the outstanding Note Balance of the Notes plus accrued and unpaid interest, any unpaid Additional Interest Amounts and any unpaid Make-Whole Payments on the Notes will become due and payable and interest on the Notes will cease to accrue from and after the Redemption Date, unless the Trust fails to pay the Notes on the Redemption Date. On redemption, the Indenture Trustee will release the Series 20222024-2 4 Collateral from the Lien of this Indenture and release to the Trust or any other Person entitled to funds then in the Series 20222024-2 4 Accounts under this Indenture according to Section 8.4(c).

Appears in 2 contracts

Samples: Indenture (Verizon Master Trust), Indenture Agreement (Verizon Master Trust)

Release of Funds. On the Redemption Date, the outstanding Note Balance of the Notes plus accrued and unpaid interest, any unpaid Additional Interest Amounts and any unpaid Make-Whole Payments on the Notes will become due and payable and interest on the Notes will cease to accrue from and after the Redemption Date, unless the Trust fails to pay the Notes on the Redemption Date. On redemption, the Indenture Trustee will release the Series 20222024-2 3 Collateral from the Lien of this Indenture and release to the Trust or any other Person entitled to funds then in the Series 20222024-2 3 Accounts under this Indenture according to Section 8.4(c).

Appears in 2 contracts

Samples: Indenture (Verizon Master Trust), Indenture (Verizon Master Trust)

Release of Funds. On the Redemption Date, the outstanding Note Balance of the Notes plus accrued and unpaid interest, any unpaid Additional Interest Amounts and any unpaid Make-Whole Payments on the Notes will become due and payable and interest on the Notes will cease to accrue from and after the Redemption Date, unless the Trust fails to pay the Notes on the Redemption Date. On redemption, the Indenture Trustee will release the Series 20222021-2 Collateral from the Lien of this Indenture and release to the Trust or any other Person entitled to funds then in the Series 20222021-2 Accounts under this Indenture according to Section 8.4(c).

Appears in 2 contracts

Samples: Indenture (Verizon Master Trust), Indenture (Verizon Master Trust)

Release of Funds. On the Redemption Date, the outstanding Note Balance of the Notes plus accrued and unpaid interest, any unpaid Additional Interest Amounts and any unpaid Make-Whole Payments on the Notes will become due and payable and interest on the Notes will cease to accrue from and after the Redemption Date, unless the Trust fails to pay the Notes on the Redemption Date. On redemption, the Indenture Trustee will release the Series 20222023-2 5 Collateral from the Lien of this Indenture and release to the Trust or any other Person entitled to funds then in the Series 20222023-2 5 Accounts under this Indenture according to Section 8.4(c).

Appears in 2 contracts

Samples: Indenture (Verizon Master Trust), Indenture Agreement (Verizon Master Trust)

Release of Funds. On the Redemption Date, the outstanding Note Balance of the Notes plus accrued and unpaid interest, any unpaid Additional Interest Amounts and any unpaid Make-Whole Payments on the Notes will become due and payable and interest on the Notes will cease to accrue from and after the Redemption Date, unless the Trust fails to pay the Notes on the Redemption Date. On redemption, the Indenture Trustee will release the Series 2022-2 7 Collateral from the Lien of this Indenture and release to the Trust or any other Person entitled to funds then in the Series 2022-2 7 Accounts under this Indenture according to Section 8.4(c).

Appears in 2 contracts

Samples: Indenture (Verizon Master Trust), Indenture Agreement (Verizon Master Trust)

Release of Funds. On the Redemption Date, the outstanding Note Balance of the Notes plus accrued and unpaid interest, any unpaid Additional Interest Amounts and any unpaid Make-Whole Payments on the Notes will become due and payable and interest on the Notes will cease to accrue from and after the Redemption Date, unless the Trust fails to pay the Notes on the Redemption Date. On redemption, the Indenture Trustee will release the Series 20222023-2 7 Collateral from the Lien of this Indenture and release to the Trust or any other Person entitled to funds then in the Series 20222023-2 7 Accounts under this Indenture according to Section 8.4(c).

Appears in 2 contracts

Samples: Indenture (Verizon Master Trust), Indenture Agreement (Verizon Master Trust)

Release of Funds. On the Redemption Date, the outstanding Note Balance of the Notes plus accrued and unpaid interest, any unpaid Additional Interest Amounts and any unpaid Make-Whole Payments on the Notes will become due and payable and interest on the Notes will cease to accrue from and after the Redemption Date, unless the Trust fails to pay the Notes on the Redemption Date. On redemption, the Indenture Trustee will release the Series 20222023-2 4 Collateral from the Lien of this Indenture and release to the Trust or any other Person entitled to funds then in the Series 20222023-2 4 Accounts under this Indenture according to Section 8.4(c).

Appears in 2 contracts

Samples: Indenture (Verizon Master Trust), Indenture (Verizon Master Trust)

Release of Funds. On the Redemption Date, the outstanding Note Balance of the Notes plus accrued and unpaid interest, any unpaid Additional Interest Amounts and any unpaid Make-Whole Payments on the Notes will become due and payable and interest on the Notes will cease to accrue from and after the Redemption Date, unless the Trust fails to pay the Notes on the Redemption Date. On redemption, the Indenture Trustee will release the Series 20222023-2 Collateral from the Lien of this Indenture and release to the Trust or any other Person entitled to funds then in the Series 20222023-2 Accounts under this Indenture according to Section 8.4(c).

Appears in 2 contracts

Samples: Indenture (Verizon Master Trust), Indenture Agreement (Verizon Master Trust)

Release of Funds. On the Redemption Date, the outstanding Note Balance of the Notes plus accrued and unpaid interest, any unpaid Additional Interest Amounts and any unpaid Make-Whole Payments on the Notes will become due and payable and interest on the Notes will cease to accrue from and after the Redemption Date, unless the Trust fails to pay the Notes on the Redemption Date. On redemption, the Indenture Trustee will release the Series 2022-2 1 Collateral from the Lien of this Indenture and release to the Trust or any other Person entitled to funds then in the Series 2022-2 1 Accounts under this Indenture according to Section 8.4(c).

Appears in 2 contracts

Samples: Indenture (Verizon Master Trust), Indenture Agreement (Verizon Master Trust)

Release of Funds. On the Redemption Date, the outstanding Note Balance of the Notes plus accrued and unpaid interest, any unpaid Additional Interest Amounts and any unpaid Make-Whole Payments on the Notes will become due and payable and interest on the Notes will cease to accrue from and after the Redemption Date, unless the Trust fails to pay the Notes on the Redemption Date. On redemption, the Indenture Trustee will release the Series 20222024-2 1 Collateral from the Lien of this Indenture and release to the Trust or any other Person entitled to funds then in the Series 20222024-2 1 Accounts under this Indenture according to Section 8.4(c).

Appears in 2 contracts

Samples: Indenture (Verizon Master Trust), Indenture (Verizon Master Trust)

Release of Funds. On the Redemption Date, the outstanding Note Balance of the Notes plus accrued and unpaid interest, any unpaid Additional Interest Amounts and any unpaid Make-Whole Payments on the Notes will become due and payable and interest on the Notes will cease to accrue from and after the Redemption Date, unless the Trust fails to pay the Notes on the Redemption Date. On redemption, the Indenture Trustee will release the Series 2022-2 4 Collateral from the Lien of this Indenture and release to the Trust or any other Person entitled to funds then in the Series 2022-2 4 Accounts under this Indenture according to Section 8.4(c).

Appears in 2 contracts

Samples: Indenture (Verizon Master Trust), Indenture Agreement (Verizon Master Trust)

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Release of Funds. On the Redemption Date, the outstanding Note Balance of the Notes plus accrued and unpaid interest, any unpaid Additional Interest Amounts and any unpaid Make-Whole Payments on the Notes will become due and payable and interest on the Notes will cease to accrue from and after the Redemption Date, unless the Trust fails to pay the Notes on the Redemption Date. On redemption, the Indenture Trustee will release the Series 20222023-2 6 Collateral from the Lien of this Indenture and release to the Trust or any other Person entitled to funds then in the Series 20222023-2 6 Accounts under this Indenture according to Section 8.4(c).

Appears in 1 contract

Samples: Indenture (Verizon Master Trust)

Release of Funds. On the Redemption Date, the outstanding Note Balance of the Notes plus accrued and unpaid interest, any unpaid Additional Interest Amounts and any unpaid Make-Whole Payments on the Notes will become due and payable and interest on the Notes will cease to accrue from and after the Redemption Date, unless the Trust fails to pay the Notes on the Redemption Date. On redemption, the Indenture Trustee will release the Series 20222023-2 3 Collateral from the Lien of this Indenture and release to the Trust or any other Person entitled to funds then in the Series 20222023-2 3 Accounts under this Indenture according to Section 8.4(c).

Appears in 1 contract

Samples: Indenture (Verizon Master Trust)

Release of Funds. On the Redemption Date, the outstanding Note Balance of the Notes plus accrued and unpaid interest, any unpaid Additional Interest Amounts and any unpaid Make-Whole Payments on the Notes will become due and payable and interest on the Notes will cease to accrue from and after the Redemption Date, unless the Trust fails to pay the Notes on the Redemption Date. On redemption, the Indenture Trustee will release the Series 2022-2 6 Collateral from the Lien of this Indenture and release to the Trust or any other Person entitled to funds then in the Series 2022-2 6 Accounts under this Indenture according to Section 8.4(c).

Appears in 1 contract

Samples: Indenture (Verizon Master Trust)

Release of Funds. On the Redemption Date, the outstanding Note Balance of the Notes plus accrued and unpaid interest, any unpaid Additional Interest Amounts and any unpaid Make-Whole Payments on the Notes will become due and payable and interest on the Notes will cease to accrue from and after the Redemption Date, unless the Trust fails to pay the Notes on the Redemption Date. On redemption, the Indenture Trustee will release the Series 20222024-2 6 Collateral from the Lien of this Indenture and release to the Trust or any other Person entitled to funds then in the Series 20222024-2 6 Accounts under this Indenture according to Section 8.4(c).

Appears in 1 contract

Samples: Indenture (Verizon Master Trust)

Release of Funds. On the Redemption Date, the outstanding Note Balance of the Notes plus accrued and unpaid interest, any unpaid Additional Interest Amounts and any unpaid Make-Whole Payments on the Notes will become due and payable and interest on the Notes will cease to accrue from and after the Redemption Date, unless the Trust fails to pay the Notes on the Redemption Date. On redemption, the Indenture Trustee will release the Series 20222024-2 8 Collateral from the Lien of this Indenture and release to the Trust or any other Person entitled to funds then in the Series 20222024-2 8 Accounts under this Indenture according to Section 8.4(c).

Appears in 1 contract

Samples: Indenture (Verizon Master Trust)

Release of Funds. On the Redemption Date, the outstanding Note Balance of the Notes plus accrued and unpaid interest, any unpaid Additional Interest Amounts and any unpaid Make-Whole Payments on the Notes will become due and payable and interest on the Notes will cease to accrue from and after the Redemption Date, unless the Trust fails to pay the Notes on the Redemption Date. On redemption, the Indenture Trustee will release the Series 20222024-2 Collateral from the Lien of this Indenture and release to the Trust or any other Person entitled to funds then in the Series 20222024-2 Accounts under this Indenture according to Section 8.4(c).

Appears in 1 contract

Samples: Indenture (Verizon Master Trust)

Release of Funds. On the Redemption Date, the outstanding Note Balance of the Notes plus accrued and unpaid interest, any unpaid Additional Interest Amounts and any unpaid Make-Whole Payments on the Notes will become due and payable and interest on the Notes will cease to accrue from and after the Redemption Date, unless the Trust fails to pay the Notes on the Redemption Date. On redemption, the Indenture Trustee will release the Series 20222024-2 5 Collateral from the Lien of this Indenture and release to the Trust or any other Person entitled to funds then in the Series 20222024-2 5 Accounts under this Indenture according to Section 8.4(c).

Appears in 1 contract

Samples: Indenture (Verizon Master Trust)

Release of Funds. On the Redemption Date, the outstanding Note Balance of the Notes plus accrued and unpaid interest, any unpaid Additional Interest Amounts and any unpaid Make-Whole Payments on the Notes will become due and payable and interest on the Notes will cease to accrue from and after the Redemption Date, unless the Trust fails to pay the Notes on the Redemption Date. On redemption, the Indenture Trustee will release the Series 2022-2 5 Collateral from the Lien of this Indenture and release to the Trust or any other Person entitled to funds then in the Series 2022-2 5 Accounts under this Indenture according to Section 8.4(c).

Appears in 1 contract

Samples: Indenture (Verizon Master Trust)

Release of Funds. On the Redemption Date, the outstanding Note Balance of the Notes plus accrued and unpaid interest, any unpaid Additional Interest Amounts and any unpaid Make-Whole Payments on the Notes will become due and payable and interest on the Notes will cease to accrue from and after the Redemption Date, unless the Trust fails to pay the Notes on the Redemption Date. On redemption, the Indenture Trustee will release the Series 20222024-2 7 Collateral from the Lien of this Indenture and release to the Trust or any other Person entitled to funds then in the Series 20222024-2 7 Accounts under this Indenture according to Section 8.4(c).

Appears in 1 contract

Samples: Indenture (Verizon Master Trust)

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