Common use of Securityholder Distributions Clause in Contracts

Securityholder Distributions. (a) Each Securityholder as of the related Record Date shall be paid on the next succeeding Remittance Date by check mailed to such Securityholder at the address for such Securityholder appearing on the Note Register or Certificate Register or by wire transfer if such Securityholder provides written instructions to the Indenture Trustee, or Owner Trustee, respectively, at least (10) ten days prior to such Remittance Date, which instructions may be in the form of a standing order. (b) The Indenture Trustee shall serve as the Paying Agent hereunder and shall make the payments to the Securityholder required hereunder. The Indenture Trustee hereby agrees that all amounts held by it for payment hereunder will be held in trust for the benefit of the Securityholder.