Series Final Maturity. (a) The amount to be paid with respect to Series 20__-_ in connection with a reassignment of the Sold Receivables pursuant to Section 2.3(c) or 6.1(a) of the Sale and Servicing Agreements will be the Reassignment Amount for the first Payment Date following the Collection Period in which the reassignment obligation arises under the Sale and Servicing Agreements. With respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 2.3(c) or 6.1(a) of the Sale and Servicing Agreements or the proceeds from any liquidation of Collateral allocable to Series 20__-_ pursuant to Section 5.6(c) of the Indenture, the Indenture Trustee will, in accordance with the direction of the Servicer, no later than 11:00 a.m. (New York City time) on the related Payment Date, make payments or distributions of the following amounts (in the priority set forth below and, in each case after giving effect to any payments and distributions otherwise to be made on such date) (i) the Note Balance of the Series 20__-_ Notes on such Payment Date will be distributed to the Note Paying Agent for payment to the Noteholders of the Series 20__-_ Notes and (ii) an amount equal to the Accrued Note Interest for such Payment Date, will be distributed to the Note Paying Agent for payment to the Noteholders of the related Class of Series 20__-_ Notes on such Payment Date. (b) Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent pursuant to Section 7.1(a) for payment to the Noteholders of the Series 20__-_ Notes will be deemed paid in full to the Noteholders the Series 20__-_ Notes on the date on which such funds are distributed to the Note Paying Agent pursuant to this Section 7.1(b) and will be deemed to be a final payment of the Series 20__-_Notes and (ii) if the amounts available for final payment to the Noteholders of the Series 20__-_ Notes and to the Noteholders of any other Series on any Payment Date are less than the amount required to be so paid, the available amounts will be allocated to each Series based on the respective amounts required to be paid to each such Series on such Payment Date.
Appears in 3 contracts
Samples: Indenture Supplement (Ford Credit Floorplan Corp), Indenture Supplement (Ford Credit Floorplan Corp), Indenture Supplement (Ford Credit Floorplan Corp)
Series Final Maturity. (a) The amount to be paid with respect to Series 20__-_ 2014-2 in connection with a reassignment of the Sold Receivables pursuant to Section 2.3(c) or 6.1(a6.1(b) of the Sale and Servicing Agreements will be the Reassignment Amount for the first Payment Date following the Collection Period in which the reassignment obligation arises under the Sale and Servicing Agreements. With respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 2.3(c) or 6.1(a6.1(b) of the Sale and Servicing Agreements or the proceeds from any liquidation of Collateral allocable to Series 20__-_ 2014-2 pursuant to Section 5.6(c) of the Indenture, the Indenture Trustee will, (based on the information in accordance with the direction of the Servicer, no later than 11:00 a.m. (New York City timemost recent Monthly Investor Report) on the related Payment Date, make payments or distributions of the following such amounts (in the priority set forth below and, in each case after giving effect to any payments and distributions otherwise to be made on such date) (i) the Note Balance of the Series 20__-_ Notes on such Payment Date will be distributed to the Note Paying Agent for payment to the Noteholders of the Series 20__-_ Notes and (ii) an amount equal to the Accrued Note Interest for such Payment Date, will be distributed to the Note Paying Agent for payment to the Noteholders of the related Class of Series 20__-_ Notes on such Payment Dateaccordance with Section 4.2.
(b) Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent pursuant to Section 7.1(a) for payment to the Noteholders of the Series 20__-_ 2014-2 Notes will be deemed paid in full to the Noteholders the Series 20__-_ 2014-2 Notes on the date on which such funds are distributed to the Note Paying Agent pursuant to this Section 7.1(b) and will be deemed to be a final payment of the Series 20__-_Notes 2014-2 Notes and (ii) if the amounts available for final payment to the Noteholders of the Series 20__-_ 2014-2 Notes and to the Noteholders of any other Series on any Payment Date are less than the amount required to be so paid, the available amounts will be allocated to each Series based on the respective amounts required to be paid to each such Series on such Payment Date.
Appears in 2 contracts
Samples: Indenture Supplement (Ford Credit Floorplan Master Owner Trust A), Indenture Supplement (Ford Credit Floorplan Master Owner Trust A)
Series Final Maturity. (a) The amount to be paid with respect to Series 20__-_ 2013-3 in connection with a reassignment of the Sold Receivables pursuant to Section 2.3(c) or 6.1(a6.1(b) of the Sale and Servicing Agreements will be the Reassignment Amount for the first Payment Date following the Collection Period in which the reassignment obligation arises under the Sale and Servicing Agreements. With respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 2.3(c) or 6.1(a6.1(b) of the Sale and Servicing Agreements or the proceeds from any liquidation of Collateral allocable to Series 20__-_ 2013-3 pursuant to Section 5.6(c) of the Indenture, the Indenture Trustee will, (based on the information in accordance with the direction of the Servicer, no later than 11:00 a.m. (New York City timemost recent Monthly Investor Report) on the related Payment Date, make payments or distributions of the following such amounts (in the priority set forth below and, in each case after giving effect to any payments and distributions otherwise to be made on such date) (i) the Note Balance of the Series 20__-_ Notes on such Payment Date will be distributed to the Note Paying Agent for payment to the Noteholders of the Series 20__-_ Notes and (ii) an amount equal to the Accrued Note Interest for such Payment Date, will be distributed to the Note Paying Agent for payment to the Noteholders of the related Class of Series 20__-_ Notes on such Payment Dateaccordance with Section 4.2.
(b) Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent pursuant to Section 7.1(a) for payment to the Noteholders of the Series 20__-_ 2013-3 Notes will be deemed paid in full to the Noteholders the Series 20__-_ 2013-3 Notes on the date on which such funds are distributed to the Note Paying Agent pursuant to this Section 7.1(b) and will be deemed to be a final payment of the Series 20__-_Notes 2013-3 Notes and (ii) if the amounts available for final payment to the Noteholders of the Series 20__-_ 2013-3 Notes and to the Noteholders of any other Series on any Payment Date are less than the amount required to be so paid, the available amounts will be allocated to each Series based on the respective amounts required to be paid to each such Series on such Payment Date.
Appears in 2 contracts
Samples: Indenture Supplement (Ford Credit Floorplan Master Owner Trust A), Indenture Supplement (Ford Credit Floorplan Master Owner Trust A)
Series Final Maturity. (a) The amount to be paid with respect to Series 20__-_ 2013-5 in connection with a reassignment of the Sold Receivables pursuant to Section 2.3(c) or 6.1(a6.1(b) of the Sale and Servicing Agreements will be the Reassignment Amount for the first Payment Date following the Collection Period in which the reassignment obligation arises under the Sale and Servicing Agreements. With respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 2.3(c) or 6.1(a6.1(b) of the Sale and Servicing Agreements or the proceeds from any liquidation of Collateral allocable to Series 20__-_ 2013-5 pursuant to Section 5.6(c) of the Indenture, the Indenture Trustee will, (based on the information in accordance with the direction of the Servicer, no later than 11:00 a.m. (New York City timemost recent Monthly Investor Report) on the related Payment Date, make payments or distributions of the following such amounts (in the priority set forth below and, in each case after giving effect to any payments and distributions otherwise to be made on such date) (i) the Note Balance of the Series 20__-_ Notes on such Payment Date will be distributed to the Note Paying Agent for payment to the Noteholders of the Series 20__-_ Notes and (ii) an amount equal to the Accrued Note Interest for such Payment Date, will be distributed to the Note Paying Agent for payment to the Noteholders of the related Class of Series 20__-_ Notes on such Payment Dateaccordance with Section 4.2.
(b) Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent pursuant to Section 7.1(a) for payment to the Noteholders of the Series 20__-_ 2013-5 Notes will be deemed paid in full to the Noteholders the Series 20__-_ 2013-5 Notes on the date on which such funds are distributed to the Note Paying Agent pursuant to this Section 7.1(b) and will be deemed to be a final payment of the Series 20__-_Notes 2013-5 Notes and (ii) if the amounts available for final payment to the Noteholders of the Series 20__-_ 2013-5 Notes and to the Noteholders of any other Series on any Payment Date are less than the amount required to be so paid, the available amounts will be allocated to each Series based on the respective amounts required to be paid to each such Series on such Payment Date.
Appears in 2 contracts
Samples: Indenture Supplement (Ford Credit Floorplan Master Owner Trust A), Indenture Supplement (Ford Credit Floorplan Master Owner Trust A)
Series Final Maturity. (a) The amount to be paid with respect to Series 20__-_ 2013-1 in connection with a reassignment of the Sold Receivables pursuant to Section 2.3(c) or 6.1(a6.1(b) of the Sale and Servicing Agreements will be the Reassignment Amount for the first Payment Date following the Collection Period in which the reassignment obligation arises under the Sale and Servicing Agreements. With respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 2.3(c) or 6.1(a6.1(b) of the Sale and Servicing Agreements or the proceeds from any liquidation of Collateral allocable to Series 20__-_ 2013-1 pursuant to Section 5.6(c) of the Indenture, the Indenture Trustee will, (based on the information in accordance with the direction of the Servicer, no later than 11:00 a.m. (New York City timemost recent Monthly Investor Report) on the related Payment Date, make payments or distributions of the following such amounts (in the priority set forth below and, in each case after giving effect to any payments and distributions otherwise to be made on such date) (i) the Note Balance of the Series 20__-_ Notes on such Payment Date will be distributed to the Note Paying Agent for payment to the Noteholders of the Series 20__-_ Notes and (ii) an amount equal to the Accrued Note Interest for such Payment Date, will be distributed to the Note Paying Agent for payment to the Noteholders of the related Class of Series 20__-_ Notes on such Payment Dateaccordance with Section 4.2.
(b) Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent pursuant to Section 7.1(a) for payment to the Noteholders of the Series 20__-_ 2013-1 Notes will be deemed paid in full to the Noteholders the Series 20__-_ 2013-1 Notes on the date on which such funds are distributed to the Note Paying Agent pursuant to this Section 7.1(b) and will be deemed to be a final payment of the Series 20__-_Notes 2013-1 Notes and (ii) if the amounts available for final payment to the Noteholders of the Series 20__-_ 2013-1 Notes and to the Noteholders of any other Series on any Payment Date are less than the amount required to be so paid, the available amounts will be allocated to each Series based on the respective amounts required to be paid to each such Series on such Payment Date.
Appears in 2 contracts
Samples: Indenture Supplement (Ford Credit Floorplan Master Owner Trust A), Indenture Supplement (Ford Credit Floorplan Master Owner Trust A)
Series Final Maturity. (a) The amount to be paid with respect to Series 20__-_ 2012-2 in connection with a reassignment of the Sold Receivables pursuant to Section 2.3(c) or 6.1(a) of the Sale and Servicing Agreements will be the Reassignment Amount for the first Payment Date following the Collection Period in which the reassignment obligation arises under the Sale and Servicing Agreements. With respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 2.3(c) or 6.1(a) of the Sale and Servicing Agreements or the proceeds from any liquidation of Collateral allocable to Series 20__-_ 2012-2 pursuant to Section 5.6(c) of the Indenture, the Indenture Trustee will, in accordance with the direction of the Servicer, no later than 11:00 a.m. (New York City time) on the related Payment Date, make payments or distributions of the following amounts (in the priority set forth below and, in each case after giving effect to any payments and distributions otherwise to be made on such date) (i) the Note Balance of the Series 20__-_ 2012-2 Notes on such Payment Date will be distributed to the Note Paying Agent for payment to the Noteholders of the Series 20__-_ 2012-2 Notes and (ii) an amount equal to the Accrued Note Interest for such Payment Date, will be distributed to the Note Paying Agent for payment to the Noteholders of the related Class of Series 20__-_ 2012-2 Notes on such Payment Date.
(b) Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent pursuant to Section 7.1(a) for payment to the Noteholders of the Series 20__-_ 2012-2 Notes will be deemed paid in full to the Noteholders the Series 20__-_ 2012-2 Notes on the date on which such funds are distributed to the Note Paying Agent pursuant to this Section 7.1(b) and will be deemed to be a final payment of the Series 20__-_Notes 2012-2 Notes and (ii) if the amounts available for final payment to the Noteholders of the Series 20__-_ 2012-2 Notes and to the Noteholders of any other Series on any Payment Date are less than the amount required to be so paid, the available amounts will be allocated to each Series based on the respective amounts required to be paid to each such Series on such Payment Date.
Appears in 2 contracts
Samples: Indenture Supplement (Ford Credit Floorplan Master Owner Trust a Series 2012-2), Indenture Supplement (Ford Credit Floorplan Master Owner Trust a Series 2012-2)
Series Final Maturity. (a) The amount to be paid with respect to Series 20__-_ 2014-1 in connection with a reassignment of the Sold Receivables pursuant to Section 2.3(c) or 6.1(a6.1(b) of the Sale and Servicing Agreements will be the Reassignment Amount for the first Payment Date following the Collection Period in which the reassignment obligation arises under the Sale and Servicing Agreements. With respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 2.3(c) or 6.1(a6.1(b) of the Sale and Servicing Agreements or the proceeds from any liquidation of Collateral allocable to Series 20__-_ 2014-1 pursuant to Section 5.6(c) of the Indenture, the Indenture Trustee will, (based on the information in accordance with the direction of the Servicer, no later than 11:00 a.m. (New York City timemost recent Monthly Investor Report) on the related Payment Date, make payments or distributions of the following such amounts (in the priority set forth below and, in each case after giving effect to any payments and distributions otherwise to be made on such date) (i) the Note Balance of the Series 20__-_ Notes on such Payment Date will be distributed to the Note Paying Agent for payment to the Noteholders of the Series 20__-_ Notes and (ii) an amount equal to the Accrued Note Interest for such Payment Date, will be distributed to the Note Paying Agent for payment to the Noteholders of the related Class of Series 20__-_ Notes on such Payment Dateaccordance with Section 4.2.
(b) Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent pursuant to Section 7.1(a) for payment to the Noteholders of the Series 20__-_ 2014-1 Notes will be deemed paid in full to the Noteholders the Series 20__-_ 2014-1 Notes on the date on which such funds are distributed to the Note Paying Agent pursuant to this Section 7.1(b) and will be deemed to be a final payment of the Series 20__-_Notes 2014-1 Notes and (ii) if the amounts available for final payment to the Noteholders of the Series 20__-_ 2014-1 Notes and to the Noteholders of any other Series on any Payment Date are less than the amount required to be so paid, the available amounts will be allocated to each Series based on the respective amounts required to be paid to each such Series on such Payment Date.
Appears in 2 contracts
Samples: Indenture Supplement (Ford Credit Floorplan Master Owner Trust A), Indenture Supplement (Ford Credit Floorplan Master Owner Trust A)
Series Final Maturity. (a) The amount to be paid with respect to Series 20__-_ 2013-4 in connection with a reassignment of the Sold Receivables pursuant to Section 2.3(c) or 6.1(a6.1(b) of the Sale and Servicing Agreements will be the Reassignment Amount for the first Payment Date following the Collection Period in which the reassignment obligation arises under the Sale and Servicing Agreements. With respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 2.3(c) or 6.1(a6.1(b) of the Sale and Servicing Agreements or the proceeds from any liquidation of Collateral allocable to Series 20__-_ 2013-4 pursuant to Section 5.6(c) of the Indenture, the Indenture Trustee will, (based on the information in accordance with the direction of the Servicer, no later than 11:00 a.m. (New York City timemost recent Monthly Investor Report) on the related Payment Date, make payments or distributions of the following such amounts (in the priority set forth below and, in each case after giving effect to any payments and distributions otherwise to be made on such date) (i) the Note Balance of the Series 20__-_ Notes on such Payment Date will be distributed to the Note Paying Agent for payment to the Noteholders of the Series 20__-_ Notes and (ii) an amount equal to the Accrued Note Interest for such Payment Date, will be distributed to the Note Paying Agent for payment to the Noteholders of the related Class of Series 20__-_ Notes on such Payment Dateaccordance with Section 4.2.
(b) Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent pursuant to Section 7.1(a) for payment to the Noteholders of the Series 20__-_ 2013-4 Notes will be deemed paid in full to the Noteholders the Series 20__-_ 2013-4 Notes on the date on which such funds are distributed to the Note Paying Agent pursuant to this Section 7.1(b) and will be deemed to be a final payment of the Series 20__-_Notes 2013-4 Notes and (ii) if the amounts available for final payment to the Noteholders of the Series 20__-_ 2013-4 Notes and to the Noteholders of any other Series on any Payment Date are less than the amount required to be so paid, the available amounts will be allocated to each Series based on the respective amounts required to be paid to each such Series on such Payment Date.
Appears in 2 contracts
Samples: Indenture Supplement (Ford Credit Floorplan Master Owner Trust A), Indenture Supplement (Ford Credit Floorplan Master Owner Trust A)
Series Final Maturity. (a) The amount to be paid with respect to Series 20__-_ 2012-4 in connection with a reassignment of the Sold Receivables pursuant to Section 2.3(c) or 6.1(a6.1(b) of the Sale and Servicing Agreements will be the Reassignment Amount for the first Payment Date following the Collection Period in which the reassignment obligation arises under the Sale and Servicing Agreements. With respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 2.3(c) or 6.1(a6.1(b) of the Sale and Servicing Agreements or the proceeds from any liquidation of Collateral allocable to Series 20__-_ 2012-4 pursuant to Section 5.6(c) of the Indenture, the Indenture Trustee will, (based on the information in accordance with the direction of the Servicer, no later than 11:00 a.m. (New York City timemost recent Monthly Investor Report) on the related Payment Date, make payments or distributions of the following such amounts (in the priority set forth below and, in each case after giving effect to any payments and distributions otherwise to be made on such date) (i) the Note Balance of the Series 20__-_ Notes on such Payment Date will be distributed to the Note Paying Agent for payment to the Noteholders of the Series 20__-_ Notes and (ii) an amount equal to the Accrued Note Interest for such Payment Date, will be distributed to the Note Paying Agent for payment to the Noteholders of the related Class of Series 20__-_ Notes on such Payment Dateaccordance with Section 4.2.
(b) Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent pursuant to Section 7.1(a) for payment to the Noteholders of the Series 20__-_ 2012-4 Notes will be deemed paid in full to the Noteholders the Series 20__-_ 2012-4 Notes on the date on which such funds are distributed to the Note Paying Agent pursuant to this Section 7.1(b) and will be deemed to be a final payment of the Series 20__-_Notes 2012-4 Notes and (ii) if the amounts available for final payment to the Noteholders of the Series 20__-_ 2012-4 Notes and to the Noteholders of any other Series on any Payment Date are less than the amount required to be so paid, the available amounts will be allocated to each Series based on the respective amounts required to be paid to each such Series on such Payment Date.
Appears in 2 contracts
Samples: Indenture Supplement (Ford Credit Floorplan Master Owner Trust a Series 2012-4), Indenture Supplement (Ford Credit Floorplan Master Owner Trust a Series 2012-4)
Series Final Maturity. (a) The amount to be paid with respect to Series 20__-_ 2011-2 in connection with a reassignment of the Sold Receivables pursuant to Section 2.3(c) or 6.1(a) of the Sale and Servicing Agreements will be the Reassignment Amount for the first Payment Date following the Collection Period in which the reassignment obligation arises under the Sale and Servicing Agreements. With respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 2.3(c) or 6.1(a) of the Sale and Servicing Agreements or the proceeds from any liquidation of Collateral allocable to Series 20__-_ 2011-2 pursuant to Section 5.6(c) of the Indenture, the Indenture Trustee will, in accordance with the direction of the Servicer, no later than 11:00 a.m. (New York City time) on the related Payment Date, make payments or distributions of the following amounts (in the priority set forth below and, in each case after giving effect to any payments and distributions otherwise to be made on such date) (i) the Note Balance of the Series 20__-_ 2011-2 Notes on such Payment Date will be distributed to the Note Paying Agent for payment to the Noteholders of the Series 20__-_ 2011-2 Notes and (ii) an amount equal to the Accrued Note Interest for such Payment Date, will be distributed to the Note Paying Agent for payment to the Noteholders of the related Class of Series 20__-_ 2011-2 Notes on such Payment Date.
(b) Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent pursuant to Section 7.1(a) for payment to the Noteholders of the Series 20__-_ 2011-2 Notes will be deemed paid in full to the Noteholders the Series 20__-_ 2011-2 Notes on the date on which such funds are distributed to the Note Paying Agent pursuant to this Section 7.1(b) and will be deemed to be a final payment of the Series 20__-_Notes 2011-2 Notes and (ii) if the amounts available for final payment to the Noteholders of the Series 20__-_ 2011-2 Notes and to the Noteholders of any other Series on any Payment Date are less than the amount required to be so paid, the available amounts will be allocated to each Series based on the respective amounts required to be paid to each such Series on such Payment Date.
Appears in 2 contracts
Samples: Indenture Supplement (Ford Credit Floorplan Master Owner Trust a Series 2011-2), Indenture Supplement (Ford Credit Floorplan Master Owner Trust a Series 2011-2)
Series Final Maturity. (a) The amount to be paid with respect to Series 20__-_ 2012-1 in connection with a reassignment of the Sold Receivables pursuant to Section 2.3(c) or 6.1(a) of the Sale and Servicing Agreements will be the Reassignment Amount for the first Payment Date following the Collection Period in which the reassignment obligation arises under the Sale and Servicing Agreements. With respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 2.3(c) or 6.1(a) of the Sale and Servicing Agreements or the proceeds from any liquidation of Collateral allocable to Series 20__-_ 2012-1 pursuant to Section 5.6(c) of the Indenture, the Indenture Trustee will, in accordance with the direction of the Servicer, no later than 11:00 a.m. (New York City time) on the related Payment Date, make payments or distributions of the following amounts (in the priority set forth below and, in each case after giving effect to any payments and distributions otherwise to be made on such date) (i) the Note Balance of the Series 20__-_ 2012-1 Notes on such Payment Date will be distributed to the Note Paying Agent for payment to the Noteholders of the Series 20__-_ 2012-1 Notes and (ii) an amount equal to the Accrued Note Interest for such Payment Date, will be distributed to the Note Paying Agent for payment to the Noteholders of the related Class of Series 20__-_ 2012-1 Notes on such Payment Date.
(b) Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent pursuant to Section 7.1(a) for payment to the Noteholders of the Series 20__-_ 2012-1 Notes will be deemed paid in full to the Noteholders the Series 20__-_ 2012-1 Notes on the date on which such funds are distributed to the Note Paying Agent pursuant to this Section 7.1(b) and will be deemed to be a final payment of the Series 20__-_Notes 2012-1 Notes and (ii) if the amounts available for final payment to the Noteholders of the Series 20__-_ 2012-1 Notes and to the Noteholders of any other Series on any Payment Date are less than the amount required to be so paid, the available amounts will be allocated to each Series based on the respective amounts required to be paid to each such Series on such Payment Date.
Appears in 2 contracts
Samples: Indenture Supplement (Ford Credit Floorplan Master Owner Trust a Series 2012-1), Indenture Supplement (Ford Credit Floorplan Master Owner Trust a Series 2012-1)
Series Final Maturity. (a) The amount to be paid with respect to Series 20__-_ 20 - in connection with a reassignment of the Sold Receivables pursuant to Section 2.3(c) or 6.1(a6.1(b) of the Sale and Servicing Agreements will be the Reassignment Amount for the first Payment Date following the Collection Period in which the reassignment obligation arises under the Sale and Servicing Agreements. With respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 2.3(c) or 6.1(a6.1(b) of the Sale and Servicing Agreements or the proceeds from any liquidation of Collateral allocable to Series 20__-_ 20 - pursuant to Section 5.6(c) of the Indenture, the Indenture Trustee will, (based on the information in accordance with the direction of the Servicer, no later than 11:00 a.m. (New York City timemost recent Monthly Investor Report) on the related Payment Date, make payments or distributions of the following such amounts (in the priority set forth below and, in each case after giving effect to any payments and distributions otherwise to be made on such date) (i) the Note Balance of the Series 20__-_ Notes on such Payment Date will be distributed to the Note Paying Agent for payment to the Noteholders of the Series 20__-_ Notes and (ii) an amount equal to the Accrued Note Interest for such Payment Date, will be distributed to the Note Paying Agent for payment to the Noteholders of the related Class of Series 20__-_ Notes on such Payment Dateaccordance with Section 4.2.
(b) Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent pursuant to Section 7.1(a) for payment to the Noteholders of the Series 20__-_ 20 - Notes will be deemed paid in full to the Noteholders the Series 20__-_ 20 - Notes on the date on which such funds are distributed to the Note Paying Agent pursuant to this Section 7.1(b) and will be deemed to be a final payment of the Series 20__-_Notes 20 - Notes and (ii) if the amounts available for final payment to the Noteholders of the Series 20__-_ 20 - Notes and to the Noteholders of any other Series on any Payment Date are less than the amount required to be so paid, the available amounts will be allocated to each Series based on the respective amounts required to be paid to each such Series on such Payment Date.
Appears in 1 contract
Samples: Indenture Supplement (Ford Credit Floorplan Master Owner Trust A)
Series Final Maturity. (a) The amount to be paid by the Transferors with respect to Series 20__-_ 2009-2 in connection with a reassignment of the Sold Receivables Noteholders' Collateral pursuant to Section 2.3(c2.03(c) or 6.1(a) 6.01 of the Sale Transfer and Servicing Agreements will be the Reassignment Amount for the first Payment Distribution Date following the Collection Period in which the reassignment obligation arises under the Sale Transfer and Servicing Agreements. With respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 2.3(c2.03(c) or 6.1(a) 6.01 of the Sale Transfer and Servicing Agreements or the proceeds from any liquidation of Collateral allocable to Series 20__-_ Foreclosure Remedy pursuant to Section 5.6(c) 5.05 of the Indenture, the Indenture Trustee will, in accordance with the written direction of the Servicer, no later than 11:00 a.m. (New York City time) on the related Payment Distribution Date, make payments deposits or distributions of the following amounts (in the priority set forth below and, in each case after giving effect to any payments deposits and distributions otherwise to be made on such date) in immediately available funds (iA) the Class A Note Principal Balance of the Series 20__-_ Notes on such Payment Distribution Date will be distributed to the Note Paying Agent for payment to the Class A Noteholders of the Series 20__-_ Notes and (iiB) an amount equal to the Accrued Note sum of (1) the Class A Monthly Interest for such Payment Distribution Date, (2) any Class A Monthly Interest previously due but not paid to the Class A Noteholders on prior Distribution Dates and (3) any Class A Additional Interest for such Distribution Date, will be distributed to the Note Paying Agent for payment to the Class A Noteholders of the related Class of Series 20__-_ Notes on such Payment Distribution Date.
(b) Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale Transfer and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent pursuant to Section 7.1(a7.01(a) for payment to the Series 2009-2 Noteholders of the Series 20__-_ Notes will be deemed paid distributed in full to the Series 2009-2 Noteholders the Series 20__-_ Notes on the date on which such funds are distributed to the Note Paying Agent pursuant to this Section 7.1(b) and will be deemed to be a final payment distribution pursuant to Section 11.02 of the Series 20__-_Notes Indenture and (ii) if the amounts available for final payment distribution to the Series 2009-2 Noteholders of the Series 20__-_ Notes and to the Noteholders of any other Series on any Payment Distribution Date are less than the full amount required to be so paiddistributed, the available amounts will be allocated to each Series based on the respective amounts required to be paid distributed to each such Series (including Series 2009-2) on such Payment Distribution Date.
Appears in 1 contract
Samples: Indenture Supplement (Ford Credit Floorplan Master Owner Trust a Series 2009-2)
Series Final Maturity. (a) The amount to be paid by the Transferor with respect to Series 20__-_ 2001-1 in connection with (i) a reassignment of Receivables to the Sold Receivables Transferor pursuant to Section 2.3(c) or 6.1(a) 2.06 of the Sale Transfer and Servicing Agreements will Agreement or (ii) an Optional Redemption of the Notes pursuant to Section 7.01, shall be the Reassignment Amount for the first Payment Distribution Date following the Collection Due Period in which the reassignment obligation arises under the Sale Transfer and Servicing AgreementsAgreement. With respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 2.3(c) 7.01 herein or 6.1(a) Section 2.06 of the Sale Transfer and Servicing Agreements Agreement or the proceeds from any liquidation of Collateral allocable to Series 20__-_ Foreclosure Remedy pursuant to Section 5.6(c) 5.05 of the Indenture, the Indenture Trustee willshall, in accordance with the written direction of the Servicer, no not later than 11:00 a.m. (1:00 p.m. New York City time) , on the related Payment Distribution Date, make payments deposits or distributions of the following amounts (in the priority set forth below and, in each case after giving effect to any payments deposits and distributions otherwise to be made on such date) in immediately available funds:
(i) (x) the Class A Note Principal Balance of the Series 20__-_ Notes on such Payment Distribution Date will be distributed to the Note Paying Agent for payment to the Class A Noteholders of the Series 20__-_ Notes and (iiy) an amount equal to the Accrued Note sum of (A) Class A Monthly Interest for such Payment Distribution Date, (B) any Class A Monthly Interest previously due but not distributed to the Class A Noteholders on a prior Distribution Date and (C) the amount of Class A Additional Interest, if any, for such Distribution Date and any Class A Additional Interest previously due but not distributed to the Class A Noteholders on any prior Distribution Date, will be distributed to the Note Paying Agent for payment to the Noteholders of Class A Noteholders;
(ii) (x) the related Class of Series 20__-_ Notes B Note Principal Balance on such Payment Distribution Date will be distributed to the Paying Agent for payment to the Class B Noteholders and (y) an amount equal to the sum of (A) Class B Monthly Interest for such Distribution Date, (B) any Class B Monthly Interest previously due but not distributed to the Class B Noteholders on a prior Distribution Date and (C) the amount of Class B Additional Interest, if any, for such Distribution Date and any Class B Additional Interest previously due but not distributed to the Class B Noteholders on any prior Distribution Date, will be distributed to the Paying Agent for payment to the Class B Noteholders; and
(iii) the O/C Amount on such Distribution Date will be distributed to the Paying Agent for payment to the O/C Holder.
(b) Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale Transfer and Servicing AgreementsAgreement, (i) all amounts distributed to the Note Paying Agent pursuant to Section 7.1(asubsection 7.02
(a) for payment to the Series 2001-1 Noteholders of the Series 20__-_ Notes will shall be deemed paid distributed in full to the Series 2001-1 Noteholders the Series 20__-_ Notes on the date on which such funds are distributed to the Note Paying Agent pursuant to this Section 7.1(b) and will shall be deemed to be a final payment distribution pursuant to Section 11.02 of the Series 20__-_Notes and (ii) if the amounts available for final payment to the Noteholders of the Series 20__-_ Notes and to the Noteholders of any other Series on any Payment Date are less than the amount required to be so paid, the available amounts will be allocated to each Series based on the respective amounts required to be paid to each such Series on such Payment Date.Indenture. 31 35
Appears in 1 contract
Series Final Maturity. (a) The amount to be paid by the Transferors with respect to Series 20__-_ 2004-1 in connection with a reassignment of the Sold Receivables Noteholders' Collateral pursuant to Section 2.3(c2.03(c) or 6.1(a) 6.01 of the Sale Transfer and Servicing Agreements will be the Reassignment Amount for the first Payment Distribution Date following the Collection Period in which the reassignment obligation arises under the Sale Transfer and Servicing Agreements. With respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 2.3(c2.03(c) or 6.1(a) 6.01 of the Sale Transfer and Servicing Agreements or pursuant to Section 7.01 of this Indenture Supplement or the proceeds from any liquidation of Collateral allocable to Series 20__-_ Foreclosure Remedy pursuant to Section 5.6(c) 5.05 of the Indenture, the Indenture Trustee will, in accordance with the written direction of the Servicer, no later than 11:00 a.m. 12:00 noon (New York City time) on the related Payment Distribution Date, make payments deposits or distributions of the following amounts (in the priority set forth below and, in each case after giving effect to any payments deposits and distributions otherwise to be made on such date) in immediately available funds:
(iA) the Class A Note Principal Balance of the Series 20__-_ Notes on such Payment Distribution Date will be distributed to the Note Paying Agent for payment to the Class A Noteholders of the Series 20__-_ Notes and (iiB) an amount equal to the Accrued Note sum of (1) the Class A Monthly Interest for such Payment Distribution Date, (2) any Class A Monthly Interest previously due but not paid to the Class A Noteholders on prior Distribution Dates and (3) any Class A Additional Interest for such Distribution Date, will be distributed to the Note Paying Agent for payment to the Class A Noteholders of the related Class of Series 20__-_ Notes on such Payment Distribution Date; and
(ii) (A) the Class B Note Principal Balance on such Distribution Date will be distributed to the Paying Agent for payment to the Class B Noteholders and (B) an amount equal to the sum of (1) the Class B Monthly Interest for such Distribution Date, (2) any Class B Monthly Interest previously due but not paid to the Class B Noteholders on prior Distribution Dates and (3) any Class B Additional Interest for such Distribution Date, will be distributed to the Paying Agent for payment to the Class B Noteholders on such Distribution Date.
(b) Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale Transfer and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent pursuant to Section 7.1(a7.02
(a) for payment to the Series 2004-1 Noteholders of the Series 20__-_ Notes will be deemed paid distributed in full to the Series 2004-1 Noteholders the Series 20__-_ Notes on the date on which such funds are distributed to the Note Paying Agent pursuant to this Section 7.1(b) and will be deemed to be a final payment distribution pursuant to Section 11.02 of the Series 20__-_Notes Indenture and (ii) if in the event that the amounts available for final payment distribution to the Series 2004-1 Noteholders of the Series 20__-_ Notes and to the Noteholders of any other Series on any Payment Distribution Date are less than the full amount required to be so paiddistributed, the available amounts will be allocated to each Series based on the respective amounts required to be paid distributed to each such Series (including Series 2004-1) on such Payment Distribution Date.
Appears in 1 contract
Samples: Indenture Supplement (Ford Credit Floorplan Master Owner Trust a Series 2004-1)
Series Final Maturity. (a) The amount to be paid with respect to Series 20__-_ 2011-1 in connection with a reassignment of the Sold Receivables pursuant to Section 2.3(c) or 6.1(a) of the Sale and Servicing Agreements will be the Reassignment Amount for the first Payment Date following the Collection Period in which the reassignment obligation arises under the Sale and Servicing Agreements. With respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 2.3(c) or 6.1(a) of the Sale and Servicing Agreements or the proceeds from any liquidation of Collateral allocable to Series 20__-_ 2011-1 pursuant to Section 5.6(c) of the Indenture, the Indenture Trustee will, in accordance with the direction of the Servicer, no later than 11:00 a.m. (New York City time) on the related Payment Date, make payments or distributions of the following amounts (in the priority set forth below and, in each case after giving effect to any payments and distributions otherwise to be made on such date) (i) the Note Balance of the Series 20__-_ 2011-1 Notes on such Payment Date will be distributed to the Note Paying Agent for payment to the Noteholders of the Series 20__-_ 2011-1 Notes and (ii) an amount equal to the Accrued Note Interest for such Payment Date, will be distributed to the Note Paying Agent for payment to the Noteholders of the related Class of Series 20__-_ 2011-1 Notes on such Payment Date.
(b) Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent pursuant to Section 7.1(a) for payment to the Noteholders of the Series 20__-_ 2011-1 Notes will be deemed paid in full to the Noteholders the Series 20__-_ 2011-1 Notes on the date on which such funds are distributed to the Note Paying Agent pursuant to this Section 7.1(b) and will be deemed to be a final payment of the Series 20__-_Notes 2011-1 Notes and (ii) if the amounts available for Table of Contents final payment to the Noteholders of the Series 20__-_ 2011-1 Notes and to the Noteholders of any other Series on any Payment Date are less than the amount required to be so paid, the available amounts will be allocated to each Series based on the respective amounts required to be paid to each such Series on such Payment Date.
Appears in 1 contract
Samples: Indenture Supplement (Ford Credit Floorplan Master Owner Trust a Series 2011-1)
Series Final Maturity. (a) The amount to be paid by the Transferor with respect to Series 20__-_ 2003-2 in connection with (i) a reassignment of Receivables to the Sold Receivables Transferor pursuant to Section 2.3(c) or 6.1(a) 2.06 of the Sale Transfer and Servicing Agreements will Agreement or (ii) an Optional Redemption of the Notes pursuant to Section 7.01, shall be the Reassignment Amount for the first Payment Distribution Date following the Collection Due Period in which the reassignment obligation arises under the Sale Transfer and Servicing AgreementsAgreement. With respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 2.3(c) 7.01 herein or 6.1(a) Section 2.06 of the Sale Transfer and Servicing Agreements Agreement or the proceeds from any liquidation of Collateral allocable to Series 20__-_ Foreclosure Remedy pursuant to Section 5.6(c) 5.05 of the Indenture, the Indenture Trustee willshall, in accordance with the written direction of the Servicer, no not later than 11:00 a.m. (1:00 p.m. New York City time) , on the related Payment Distribution Date, make payments deposits or distributions of the following amounts (in the priority set forth below and, in each case after giving effect to any payments deposits and distributions otherwise to be made on such date, including, without limitation, payments to be made to the Indenture Trustee pursuant to Section 5.05 of the Indenture) in immediately available funds:
(i) (x) the Class A Note Principal Balance of the Series 20__-_ Notes on such Payment Distribution Date will be distributed to the Note Paying Agent for payment to the Class A Noteholders of the Series 20__-_ Notes and (iiy) an amount equal to the Accrued Note sum of (A) Class A Monthly Interest for such Payment Distribution Date, (B) any Class A Monthly Interest previously due but not distributed to the Class A Noteholders on a prior Distribution Date and (C) the amount of Class A Additional Interest, if any, for such Distribution Date and any Class A Additional Interest previously due but not distributed to the Class A Noteholders on any prior Distribution Date, will be distributed to the Note Paying Agent for payment to the Noteholders of Class A Noteholders;
(ii) (x) the related Class of Series 20__-_ Notes B Note Principal Balance on such Payment Distribution Date will be distributed to the Paying Agent for payment to the Class B Noteholders and (y) an amount equal to the sum of (A) Class B Monthly Interest for such Distribution Date, (B) any Class B Monthly Interest previously due but not distributed to the Class B Noteholders on a prior Distribution Date and (C) the amount of Class B Additional Interest, if any, for such Distribution Date and any Class B Additional Interest previously due but not distributed to the Class B Noteholders on any prior Distribution Date, will be distributed to the Paying Agent for payment to the Class B Noteholders;
(iii) (x) the Class C Note Principal Balance on such Distribution Date will be distributed to the Paying Agent for payment to the Class C Noteholders and (y) an amount equal to the sum of (A) Class C Monthly Interest for such Distribution Date, (B) any Class C Monthly Interest previously due but not distributed to the Class C Noteholders on a prior Distribution Date and (C) the amount of Class C Additional Interest, if any, for such Distribution Date and any Class C Additional Interest previously due but not distributed to the Class C Noteholders on any prior Distribution Date, will be distributed to the Paying Agent for payment to the Class C Noteholders; and
(iv) the O/C Amount on such Distribution Date will be distributed to the Paying Agent for payment to the O/C Holder.
(b) Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale Transfer and Servicing AgreementsAgreement, (i) all amounts distributed to the Note Paying Agent pursuant to Section 7.1(asubsection 7.02
(a) for payment to the Series 2003-2 Noteholders of the Series 20__-_ Notes will shall be deemed paid distributed in full to the Series 2003-2 Noteholders the Series 20__-_ Notes on the date on which such funds are distributed to the Note Paying Agent pursuant to this Section 7.1(b) and will shall be deemed to be a final payment distribution pursuant to Section 11.02 of the Series 20__-_Notes and (ii) if the amounts available for final payment to the Noteholders of the Series 20__-_ Notes and to the Noteholders of any other Series on any Payment Date are less than the amount required to be so paid, the available amounts will be allocated to each Series based on the respective amounts required to be paid to each such Series on such Payment DateIndenture.
Appears in 1 contract
Samples: Indenture Supplement (Household Affinity Funding Corp Iii)
Series Final Maturity. (a) The amount to be paid by the Transferor with respect to Series 20__-_ 2003-1 in connection with (i) a reassignment of Receivables to the Sold Receivables Transferor pursuant to Section 2.3(c) or 6.1(a) 2.06 of the Sale Transfer and Servicing Agreements will Agreement or (ii) an Optional Redemption of the Notes pursuant to Section 7.01, shall be the Reassignment Amount for the first Payment Distribution Date following the Collection Due Period in which the reassignment obligation arises under the Sale Transfer and Servicing AgreementsAgreement. With respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 2.3(c) 7.01 herein or 6.1(a) Section 2.06 of the Sale Transfer and Servicing Agreements Agreement or the proceeds from any liquidation of Collateral allocable to Series 20__-_ Foreclosure Remedy pursuant to Section 5.6(c) 5.05 of the Indenture, the Indenture Trustee willshall, in accordance with the written direction of the Servicer, no not later than 11:00 a.m. (1:00 p.m. New York City time) , on the related Payment Distribution Date, make payments deposits or distributions of the following amounts (in the priority set forth below and, in each case after giving effect to any payments deposits and distributions otherwise to be made on such date, including, without limitation, payments to be made to the Indenture Trustee pursuant to Section 5.05 of the Indenture) in immediately available funds:
(i) (x) the Class A Note Principal Balance of the Series 20__-_ Notes on such Payment Distribution Date will be distributed to the Note Paying Agent for payment to the Class A Noteholders of the Series 20__-_ Notes and (iiy) an amount equal to the Accrued Note sum of (A) Class A Monthly Interest for such Payment Distribution Date, (B) any Class A Monthly Interest previously due but not distributed to the Class A Noteholders on a prior Distribution Date and (C) the amount of Class A Additional Interest, if any, for such Distribution Date and any Class A Additional Interest previously due but not distributed to the Class A Noteholders on any prior Distribution Date, will be distributed to the Note Paying Agent for payment to the Noteholders of Class A Noteholders;
(ii) (x) the related Class of Series 20__-_ Notes B Note Principal Balance on such Payment Distribution Date will be distributed to the Paying Agent for payment to the Class B Noteholders and (y) an amount equal to the sum of (A) Class B Monthly Interest for such Distribution Date, (B) any Class B Monthly Interest previously due but not distributed to the Class B Noteholders on a prior Distribution Date and (C) the amount of Class B Additional Interest, if any, for such Distribution Date and any Class B Additional Interest previously due but not distributed to the Class B Noteholders on any prior Distribution Date, will be distributed to the Paying Agent for payment to the Class B Noteholders;
(iii) (x) the Class C Note Principal Balance on such Distribution Date will be distributed to the Paying Agent for payment to the Class C Noteholders and (y) an amount equal to the sum of (A) Class C Monthly Interest for such Distribution Date, (B) any Class C Monthly Interest previously due but not distributed to the Class C Noteholders on a prior Distribution Date and (C) the amount of Class C Additional Interest, if any, for such Distribution Date and any Class C Additional Interest previously due but not distributed to the Class C Noteholders on any prior Distribution Date, will be distributed to the Paying Agent for payment to the Class C Noteholders; and
(iv) the O/C Amount on such Distribution Date will be distributed to the Paying Agent for payment to the O/C Holder.
(b) Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale Transfer and Servicing AgreementsAgreement, (i) all amounts distributed to the Note Paying Agent pursuant to Section 7.1(asubsection 7.02
(a) for payment to the Series 2003-1 Noteholders of the Series 20__-_ Notes will shall be deemed paid distributed in full to the Series 2003-1 Noteholders the Series 20__-_ Notes on the date on which such funds are distributed to the Note Paying Agent pursuant to this Section 7.1(b) and will shall be deemed to be a final payment distribution pursuant to Section 11.02 of the Series 20__-_Notes and (ii) if the amounts available for final payment to the Noteholders of the Series 20__-_ Notes and to the Noteholders of any other Series on any Payment Date are less than the amount required to be so paid, the available amounts will be allocated to each Series based on the respective amounts required to be paid to each such Series on such Payment DateIndenture.
Appears in 1 contract
Samples: Indenture Supplement (Household Affinity Funding Corp Iii)
Series Final Maturity. (a) The amount to be paid by the Transferors with respect to Series 20__-_ 2006-3 in connection with a reassignment of the Sold Receivables Noteholders' Collateral pursuant to Section 2.3(c2.03(c) or 6.1(a) 6.01 of the Sale Transfer and Servicing Agreements will be the Reassignment Amount for the first Payment Distribution Date following the Collection Period in which the reassignment obligation arises under the Sale Transfer and Servicing Agreements. With respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 2.3(c2.03(c) or 6.1(a) 6.01 of the Sale Transfer and Servicing Agreements or pursuant to Section 7.01 of this Indenture Supplement or the proceeds from any liquidation of Collateral allocable to Series 20__-_ Foreclosure Remedy pursuant to Section 5.6(c) 5.05 of the Indenture, the Indenture Trustee will, in accordance with the written direction of the Servicer, no later than 11:00 a.m. (New York City time) on the related Payment Distribution Date, make payments deposits or distributions of the following amounts (in the priority set forth below and, in each case after giving effect to any payments deposits and distributions otherwise to be made on such date) in immediately available funds:
(iA) the Class A Note Principal Balance of the Series 20__-_ Notes on such Payment Distribution Date will be distributed to the Note Paying Agent for payment to the Class A Noteholders of the Series 20__-_ Notes and (iiB) an amount equal to the Accrued Note sum of (1) the Class A Monthly Interest for such Payment Distribution Date, (2) any Class A Monthly Interest previously due but not paid to the Class A Noteholders on prior Distribution Dates and (3) any Class A Additional Interest for such Distribution Date, will be distributed to the Note Paying Agent for payment to the Class A Noteholders of the related Class of Series 20__-_ Notes on such Payment Distribution Date; and
(ii) (A) the Class B Note Principal Balance on such Distribution Date will be distributed to the Paying Agent for payment to the Class B Noteholders and (B) an amount equal to the sum of (1) the Class B Monthly Interest for such Distribution Date, (2) any Class B Monthly Interest previously due but not paid to the Class B Noteholders on prior Distribution Dates and (3) any Class B Additional Interest for such Distribution Date, will be distributed to the Paying Agent for payment to the Class B Noteholders on such Distribution Date.
(b) Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale Transfer and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent pursuant to Section 7.1(a7.02
(a) for payment to the Series 2006-3 Noteholders of the Series 20__-_ Notes will be deemed paid distributed in full to the Series 2006-3 Noteholders the Series 20__-_ Notes on the date on which such funds are distributed to the Note Paying Agent pursuant to this Section 7.1(b) and will be deemed to be a final payment distribution pursuant to Section 11.02 of the Series 20__-_Notes Indenture and (ii) if in the event that the amounts available for final payment distribution to the Series 2006-3 Noteholders of the Series 20__-_ Notes and to the Noteholders of any other Series on any Payment Distribution Date are less than the full amount required to be so paiddistributed, the available amounts will be allocated to each Series based on the respective amounts required to be paid distributed to each such Series (including Series 2006-3) on such Payment Distribution Date.
Appears in 1 contract
Samples: Indenture Supplement (Ford Credit Floorplan Master Owner Trust a Series 2006-3)
Series Final Maturity. (a) The amount to be paid by the Transferors with respect to Series 20__-_ 2006-4 in connection with a reassignment of the Sold Receivables Noteholders' Collateral pursuant to Section 2.3(c2.03(c) or 6.1(a) 6.01 of the Sale Transfer and Servicing Agreements will be the Reassignment Amount for the first Payment Distribution Date following the Collection Period in which the reassignment obligation arises under the Sale Transfer and Servicing Agreements. With respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 2.3(c2.03(c) or 6.1(a) 6.01 of the Sale Transfer and Servicing Agreements or pursuant to Section 7.01 of this Indenture Supplement or the proceeds from any liquidation of Collateral allocable to Series 20__-_ Foreclosure Remedy pursuant to Section 5.6(c) 5.05 of the Indenture, the Indenture Trustee will, in accordance with the written direction of the Servicer, no later than 11:00 a.m. (New York City time) on the related Payment Distribution Date, make payments deposits or distributions of the following amounts (in the priority set forth below and, in each case after giving effect to any payments deposits and distributions otherwise to be made on such date) in immediately available funds:
(iA) the Class A Note Principal Balance of the Series 20__-_ Notes on such Payment Distribution Date will be distributed to the Note Paying Agent for payment to the Class A Noteholders of the Series 20__-_ Notes and (iiB) an amount equal to the Accrued Note sum of (1) the Class A Monthly Interest for such Payment Distribution Date, (2) any Class A Monthly Interest previously due but not paid to the Class A Noteholders on prior Distribution Dates and (3) any Class A Additional Interest for such Distribution Date, will be distributed to the Note Paying Agent for payment to the Class A Noteholders of the related Class of Series 20__-_ Notes on such Payment Distribution Date; and
(ii) (A) the Class B Note Principal Balance on such Distribution Date will be distributed to the Paying Agent for payment to the Class B Noteholders and (B) an amount equal to the sum of (1) the Class B Monthly Interest for such Distribution Date, (2) any Class B Monthly Interest previously due but not paid to the Class B Noteholders on prior Distribution Dates and (3) any Class B Additional Interest for such Distribution Date, will be distributed to the Paying Agent for payment to the Class B Noteholders on such Distribution Date.
(b) Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale Transfer and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent pursuant to Section 7.1(a7.02
(a) for payment to the Series 2006-4 Noteholders of the Series 20__-_ Notes will be deemed paid distributed in full to the Series 2006-4 Noteholders the Series 20__-_ Notes on the date on which such funds are distributed to the Note Paying Agent pursuant to this Section 7.1(b) and will be deemed to be a final payment distribution pursuant to Section 11.02 of the Series 20__-_Notes Indenture and (ii) if in the event that the amounts available for final payment distribution to the Series 2006-4 Noteholders of the Series 20__-_ Notes and to the Noteholders of any other Series on any Payment Distribution Date are less than the full amount required to be so paiddistributed, the available amounts will be allocated to each Series based on the respective amounts required to be paid distributed to each such Series (including Series 2006-4) on such Payment Distribution Date.
Appears in 1 contract
Samples: Indenture Supplement (Ford Credit Floorplan Master Owner Trust a Series 2006-4)
Series Final Maturity. (a) The amount to be paid by the Transferors with respect to Series 20__-_ 2010-5 in connection with a reassignment of the Sold Receivables Noteholders' Collateral pursuant to Section 2.3(c2.03(c) or 6.1(a) 6.01 of the Sale Transfer and Servicing Agreements will be the Reassignment Amount for the first Payment Distribution Date following the Collection Period in which the reassignment obligation arises under the Sale Transfer and Servicing Agreements. With respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 2.3(c2.03(c) or 6.1(a) 6.01 of the Sale Transfer and Servicing Agreements or the proceeds from any liquidation of Collateral allocable to Series 20__-_ Foreclosure Remedy pursuant to Section 5.6(c) 5.05 of the Indenture, the Indenture Trustee will, in accordance with the written direction of the Servicer, no later than 11:00 a.m. (New York City time) on the related Payment Distribution Date, make payments deposits or distributions of the following amounts (in the priority set forth below and, in each case after giving effect to any payments deposits and distributions otherwise to be made on such date) in immediately available funds (iA) the Series 2010-5 Note Principal Balance of the Series 20__-_ Notes on such Payment Distribution Date will be distributed to the Note Paying Agent for payment to the Class A-1, Class A-2, Class B, Class C and Class D Noteholders and (B) an amount equal to the sum of (1) the Monthly Interest for such Distribution Date, (2) any Monthly Interest previously due but not paid to the Class A-1, Class A-2, Class B, Class C or Class D Noteholders on prior Distribution Dates and (3) any Additional Interest for such Distribution Date, will be distributed to the Paying Agent for payment to the Noteholders of the Series 20__-_ Notes and (ii) an amount equal to the Accrued Note Interest for such Payment Date, will be distributed to the Note Paying Agent for payment to the Noteholders of or the related Class of Series 20__-_ Notes on such Payment Distribution Date.
(b) Notwithstanding anything to the contrary in this Indenture Supplement, the Indenture or the Sale Transfer and Servicing Agreements, (i) all amounts distributed to the Note Paying Agent pursuant to Section 7.1(a7.01(a) for payment to the Series 2010-5 Noteholders of the Series 20__-_ Notes will be deemed paid distributed in full to the Series 2010-5 Noteholders the Series 20__-_ Notes on the date on which such funds are distributed to the Note Paying Agent pursuant to this Section 7.1(b) and will be deemed to be a final payment distribution pursuant to Section 11.02 of the Series 20__-_Notes Indenture and (ii) if the amounts available for final payment distribution to the Series 2010-5 Noteholders of the Series 20__-_ Notes and to the Noteholders of any other Series on any Payment Distribution Date are less than the full amount required to be so paiddistributed, the available amounts will be allocated to each Series based on the respective amounts required to be paid distributed to each such Series (including Series 2010-5) on such Payment Distribution Date.
Appears in 1 contract
Samples: Indenture Supplement (Ford Credit Floorplan Master Owner Trust a Series 2010-5)