Common use of Series Final Maturity Clause in Contracts

Series Final Maturity. (a) The amount to be paid with respect to Series 2012-5 in connection with a reassignment of the Sold Receivables pursuant to Section 2.3(c) or 6.1(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(b) of the Sale and Servicing Agreements or the proceeds from any liquidation of Collateral allocable to Series 2012-5 pursuant to Section 5.6(c) of the Indenture, the Indenture Trustee will (based on information in the most recent Monthly Investor Report) on the related Payment Date, make payments or distributions of such amounts in accordance 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 2012-5 Notes will be deemed paid in full to the Noteholders the Series 2012-5 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 2012-5 Notes and (ii) if the amounts available for final payment to the Noteholders of the Series 2012-5 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 Series 2012-5), Indenture Supplement (Ford Credit Floorplan Master Owner Trust a Series 2012-5)

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Series Final Maturity. (a) The amount to be paid with respect to for Series 20122014-5 4 in connection with a reassignment of the Sold Receivables pursuant to under Section 2.3(c) or 6.1(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 For the Reassignment Amount deposited into in the Collection Account pursuant to under Section 2.3(c) or 6.1(b) of the Sale and Servicing Agreements or the proceeds from any liquidation of Collateral allocable to Series 20122014-5 pursuant to 4 under Section 5.6(c) of the Indenture, the Indenture Trustee will will, (based on the information in the most recent Monthly Investor Report) on the related Payment Date, make payments or distributions of such those amounts in accordance with under 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 under Section 7.1(a) for payment to the Noteholders of the Series 20122014-5 4 Notes will be deemed paid in full to the Noteholders the Series 20122014-5 4 Notes on the date on which such those funds are distributed to the Note Paying Agent pursuant to under this Section 7.1(b) and will be deemed to be a final payment of the Series 20122014-5 4 Notes and (ii) if the amounts available for final payment to the Noteholders of the Series 20122014-5 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 that 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 for Series 20122015-5 1 in connection with a reassignment of the Sold Receivables pursuant to under Section 2.3(c) or 6.1(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 For the Reassignment Amount deposited into in the Collection Account pursuant to under Section 2.3(c) or 6.1(b) of the Sale and Servicing Agreements or the proceeds from any liquidation of Collateral allocable to Series 20122015-5 pursuant to 1 under Section 5.6(c) of the Indenture, the Indenture Trustee will will, (based on the information in the most recent Monthly Investor Report) on the related Payment Date, make payments or distributions of such those amounts in accordance with under 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 under Section 7.1(a) for payment to the Noteholders of the Series 20122015-5 1 Notes will be deemed paid in full to the Noteholders the Series 20122015-5 1 Notes on the date on which such those funds are distributed to the Note Paying Agent pursuant to under this Section 7.1(b) and will be deemed to be a final payment of the Series 20122015-5 1 Notes and (ii) if the amounts available for final payment to the Noteholders of the Series 20122015-5 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 that 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 for Series 20122015-5 4 in connection with a reassignment of the Sold Receivables pursuant to under Section 2.3(c) or 6.1(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 For the Reassignment Amount deposited into in the Collection Account pursuant to under Section 2.3(c) or 6.1(b) of the Sale and Servicing Agreements or the proceeds from any liquidation of Collateral allocable to Series 20122015-5 pursuant to 4 under Section 5.6(c) of the Indenture, the Indenture Trustee will will, (based on the information in the most recent Monthly Investor Report) on the related Payment Date, make payments or distributions of such those amounts in accordance with under 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 under Section 7.1(a) for payment to the Noteholders of the Series 20122015-5 4 Notes will be deemed paid in full to the Noteholders the Series 20122015-5 4 Notes on the date on which such those funds are distributed to the Note Paying Agent pursuant to under this Section 7.1(b) and will be deemed to be a final payment of the Series 20122015-5 4 Notes and (ii) if the amounts available for final payment to the Noteholders of the Series 20122015-5 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 that 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)

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Series Final Maturity. (a) The amount to be paid with respect to for Series 20122015-5 in connection with a reassignment of the Sold Receivables pursuant to under Section 2.3(c) or 6.1(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 For the Reassignment Amount deposited into in the Collection Account pursuant to under Section 2.3(c) or 6.1(b) of the Sale and Servicing Agreements or the proceeds from any liquidation of Collateral allocable to Series 20122015-5 pursuant to under Section 5.6(c) of the Indenture, the Indenture Trustee will will, (based on the information in the most recent Monthly Investor Report) on the related Payment Date, make payments or distributions of such those amounts in accordance with under 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 under Section 7.1(a) for payment to the Noteholders of the Series 20122015-5 Notes will be deemed paid in full to the Noteholders the Series 20122015-5 Notes on the date on which such those funds are distributed to the Note Paying Agent pursuant to under this Section 7.1(b) and will be deemed to be a final payment of the Series 20122015-5 Notes and (ii) if the amounts available for final payment to the Noteholders of the Series 20122015-5 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 that 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 for Series 20122015-5 2 in connection with a reassignment of the Sold Receivables pursuant to under Section 2.3(c) or 6.1(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 For the Reassignment Amount deposited into in the Collection Account pursuant to under Section 2.3(c) or 6.1(b) of the Sale and Servicing Agreements or the proceeds from any liquidation of Collateral allocable to Series 20122015-5 pursuant to 2 under Section 5.6(c) of the Indenture, the Indenture Trustee will will, (based on the information in the most recent Monthly Investor Report) on the related Payment Date, make payments or distributions of such those amounts in accordance with under 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 under Section 7.1(a) for payment to the Noteholders of the Series 20122015-5 2 Notes will be deemed paid in full to the Noteholders the Series 20122015-5 2 Notes on the date on which such those funds are distributed to the Note Paying Agent pursuant to under this Section 7.1(b) and will be deemed to be a final payment of the Series 20122015-5 2 Notes and (ii) if the amounts available for final payment to the Noteholders of the Series 20122015-5 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 that 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)

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