Common use of Time and Place of Payments by Trust Clause in Contracts

Time and Place of Payments by Trust. Except as otherwise specified herein or pursuant hereto, the Securitization Agent or its delegate on behalf of the Trust shall make each payment hereunder or under the Notes not later than 4:00 p.m.(Toronto time) on the day when due in Canadian Dollars or United States Dollars, as the case may be, in immediately available funds by deposit of such funds to such account of the Liquidity Agent maintained at its main office in Toronto, Ontario, or at such other office of the Liquidity Agent in Canada, as the Liquidity Agent may from time to time designate by notice to the Securitization Agent.