Examples of AART Collection Account in a sentence
For so long as the AART Indenture Trustee is the Person in whose name a Secured Note is registered, such account shall be the AART Collection Account.
The Administrator and the Depositor shall deposit in the AART Collection Account the aggregate Administrative Purchase Payments and Warranty Payments with respect to Administrative Secured Notes and Warranty Secured Notes, respectively.
The Issuing Entity shall not, directly or indirectly, make payments to or distributions from the AART Collection Account except in accordance with the AART Transaction Documents.
On or before each Distribution Date, (i) amounts shall be deposited in the AART Collection Account as provided in Section 4.05 of the Administration Agreement and (ii) the Aggregate Noteholders’ Interest Distributable Amount and the Aggregate Noteholders’ Principal Distributable Amount shall be transferred from the AART Collection Account to the Note Distribution Account, in each case, as and to the extent provided in Section 4.05 of the Administration Agreement.
As compensation therefor, the AART Indenture Trustee shall be entitled to such compensation (whether payable out of the AART Collection Account or otherwise) as the Administrator would have been entitled to under this Agreement if no such notice of termination had been given including the Administration Fee and Investment Earnings.
All payments of principal and interest on the Secured Notes and the AART Collection Account Shortfall Amounts shall be made by the ACOLT Indenture Trustee from the ACOLT Collection Account solely pursuant to the calculations and written direction of the Servicer in accordance with Section 3.03(a) of the Servicing Agreement.
The AART Indenture Trustee and the ACOLT Indenture Trustee are authorized and instructed to retain possession and control of the Reserve Account, the AART Collection Account and the ACOLT Collection Account, as applicable, and all amounts on deposit therein.
ACOLT shall duly and punctually pay the principal of and interest on the Secured Notes and the AART Collection Account Shortfall Amount in accordance with the terms of the Transaction Documents.
On or before each Distribution Date, ACOLT shall deposit or cause to be deposited in the ACOLT Collection Account, pursuant to Section 3.03(b) of the Servicing Agreement, an aggregate sum sufficient to pay the amounts then becoming due with respect to the Secured Notes and the AART Collection Account Shortfall Amount, such sum to be held in trust for the benefit of the Persons entitled thereto.
The AART Indenture Trustee and the ABLT Indenture Trustee are authorized and instructed to retain possession and control of the Reserve Account, the AART Collection Account and the ABLT Collection Account, as applicable, and all amounts on deposit therein.