Class A Note Payment Account definition

Class A Note Payment Account means the Eligible Deposit Account designated as such and established pursuant to subsection 4.08(a).
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Class A Note Payment Account. The account established and maintained as such pursuant to Section 3.1(b)(i).
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Class A Note Payment Account. The Class A Note Payment Account shall be held in trust for the benefit of the Class A Noteholders and the Insurer. The Class A Note Payment Account shall be under the sole dominion and control of the Indenture Trustee; provided, however, that the Servicer may make deposits to and direct the Indenture Trustee in writing to make withdrawals from the Class A Note Payment Account in accordance with this Agreement and the Indenture. All monies deposited from time to time in the Class A Note Payment Account pursuant to this Agreement and the Indenture shall be held by the Indenture Trustee as part of the Trust Property and shall be applied as provided in this Agreement and the Indenture. The amounts on deposit in the Class A Note Payment Account shall not be invested. If the Class A Note Payment Account is no longer to be maintained at the Indenture Trustee, the Servicer shall, with the Indenture Trustee’s assistance as necessary, cause the Class A Note Payment Account to be moved to an Eligible Institution within ten (10) Business Days (or such longer period not to exceed thirty (30) calendar days as to which each Rating Agency and the Insurer (provided that no Insurer Default shall have occurred and is continuing) may consent). The Servicer shall promptly notify the Indenture Trustee, the Rating Agencies, the Insurer and the Owner Trustee of any change in the account number or location of the Class A Note Payment Account; and
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Examples of Class A Note Payment Account in a sentence

  • The amounts on deposit in the Class A Note Payment Account shall not be invested.

  • All monies deposited from time to time in the Class A Note Payment Account pursuant to this Agreement and the Indenture shall be held by the Indenture Trustee as part of the Trust Property and shall be applied as provided in this Agreement and the Indenture.

  • The Class A Note Payment Account shall be held in trust for the benefit of the Class A Noteholders and the Insurer.

  • Such payment amount, plus, to the extent necessary, all amounts in the Collection Account, the Class A Note Payment Account, the Class B Note Payment Account, the Prefunding Account and the Reserve Account, shall be used to make payments in full to the Noteholders and the Insurer in the manner set forth in Article III of this Agreement.

  • The Class A Note Payment Account shall be under the sole dominion and control of the Indenture Trustee; provided, however, that the Servicer may make deposits to and direct the Indenture Trustee in writing to make withdrawals from the Class A Note Payment Account in accordance with this Agreement and the Indenture.

  • If the Class A Note Payment Account is no longer to be maintained at the Indenture Trustee, the Servicer shall, with the Indenture Trustee’s assistance as necessary, cause the Class A Note Payment Account to be moved to an Eligible Institution within ten (10) Business Days (or such longer period not to exceed thirty (30) calendar days as to which each Rating Agency and the Insurer (provided that no Insurer Default shall have occurred and is continuing) may consent).

  • Upon such payment, the Depositor shall succeed to and own all interests in and to the Owner Trust Estate other than the Collection Account, the Class A Note Payment Account, the Class B Note Payment, the Prefunding Account and the Reserve Account.

  • The Servicer shall instruct the Indenture Trustee to deposit, and the Indenture Trustee upon receipt of such instructions shall deposit, the proceeds of any drawing under the Policy in respect of CLAUSES (i), (ii) and (iii) above to the Class A Note Payment Account.

  • Such payment amount, PLUS, to the extent necessary, all amounts in the Collection Account, the Class A Note Payment Account, the Class B Note Payment Account, the Prefunding Account and the Reserve Account, shall be used to make payments in full to the Noteholders and the Insurer in the manner set forth in Article III of the Sale and Allocation Agreement.

  • The Class A Note Payment Account shall be under the sole dominion and control of the Indenture Trustee; PROVIDED, HOWEVER, that the Servicer may make deposits to and direct the Indenture Trustee in writing to make withdrawals from the Class A Note Payment Account in accordance with this Agreement and the Indenture.