Disbursements of Monies from Payment Account. (a) Notwithstanding any other provision in this Agreement, but subject to the other subsections of this Section 9.01, on each Payment Date, the Collateral Agent shall disburse amounts transferred from the Collection Account to the Payment Account pursuant to Section 8.02 in accordance with the Payment Date Report and the following priorities (the “Priority of Payments”):
Disbursements of Monies from Payment Account. (a) Notwithstanding any other provision herein, but subject to the other sub-Sections of this Section 11.1 and to Section 13.1, on each Payment Date, the Trustee shall disburse amounts transferred from the Collection Account to the Payment Account pursuant to Section 10.2 in accordance with the following priorities (the “Priority of Payments”); provided that, unless an Enforcement Event has occurred and is continuing, (x) amounts transferred from the Interest Collection Subaccount shall be applied solely in accordance with Section 11.1(a)(i); and (y) amounts transferred from the Principal Collection Subaccount shall be applied solely in accordance with Section 11.1(a)(ii).
Disbursements of Monies from Payment Account. (a) Notwithstanding any other provision in this Indenture, but subject to the other subsections of this Section 11.1 and Section 13.1 hereof, on each Payment Date, or Redemption Date the Trustee shall disburse amounts transferred to the Payment Account from the Interest Collection Account and the Principal Collection Account pursuant to Section 10.2 hereof in accordance with the following priorities (the “Priority of Payments”):
Disbursements of Monies from Payment Account. (a) Notwithstanding any other provision herein, but subject to the other sub-sections of this Section 11.1 and to Section 13.1, on each Payment Date and, if elected by the Collateral Manager, on each Redemption Distribution Date, the Trustee shall disburse amounts transferred from the Collection Account to the Payment Account pursuant to Section 10.2 in accordance with the following priorities (the “Priority of Payments”); provided that, unless an Enforcement Event has occurred and is continuing, (x) amounts transferred from the Interest Collection Subaccount shall be applied solely in accordance with Section 11.1(a)(i); and (y) amounts transferred from the Principal Collection Subaccount shall be applied solely in accordance with Section 11.1(a)(ii).
Disbursements of Monies from Payment Account. (a) Notwithstanding any other provision in this Indenture, but subject to the other subsections of this Section and Section 13.1, on or, with respect to amounts referred to in Section 11.1(d), before each Payment Date or the Stated Maturity, the Trustee shall disburse amounts transferred to the Payment Account from the Interest Collection Account and, to the extent permitted hereunder, from the Principal Collection Account pursuant to Section 10.2, Section 10.3, Section 2.7 or Section 3.4 as follows and for application by the Trustee in accordance with the following priorities (collectively, the “Priority of Payments”):
Disbursements of Monies from Payment Account. (a) Notwithstanding any other provision herein, but subject to the other sub-sections of this Section 11.1 and to Section 13.1, on each Payment Date, the Trustee shall disburse amounts transferred from the Collection Account to the Payment Account pursuant to Section 10.2 in accordance with the following priorities (the “Priority of Payments”); provided that, unless such Payment Date is the Stated Maturity or an Enforcement Event has occurred and is continuing and other than as provided in Section 11.1(a)(iv) on any Redemption Date (other than a Redemption Date that is also a Payment Date), (x) amounts transferred from the Interest Collection Subaccount shall be applied solely in accordance with Section 11.1(a)(i); and (y) amounts transferred from the Principal Collection Subaccount shall be applied solely in accordance with Section 11.1(a)(ii).
Disbursements of Monies from Payment Account. (a) Unless the Notes have been declared due and payable pursuant to Section 6.02 and monies collected by the Trustee are being applied in accordance with Section 6.08, Available Funds on deposit in the Payment Account on any Payment Date shall be withdrawn by the Trustee from the Payment Account, in the amounts required, for application as follows: FIRST, to the extent of Available Funds, in the following priority, (A) to the Indenture Trustee, the Indenture Trustee's Fee and all unpaid expenses and indemnification payments payable to the Indenture Trustee pursuant to the provisions hereunder for the current Payment Date, (B) to the Owner Trustee, the Owner Trustee's Fee for the current Payment Date and all unpaid expenses and indemnification payments payable to the Owner Trustee pursuant to Section 7.2 of the Trust Agreement with respect to the current Payment Date, (C) to the Tax Administrator, the Tax Administrator's Fee for the current Payment Date; (D) to the Indenture Trustee, any Indenture Trustee's Fee previously earned and not received on prior Payment Dates; (E) to the Owner Trustee, any Owner Trustee's Fee previously earned and not received on prior Payment Dates; and (E) to the Tax Administrator, any Tax Administrator's Fee previously earned and not received on prior Payment Dates. SECOND, to the Class A Holders, an amount equal to the lesser of (a) Available Funds after making all payments under clause FIRST of this Section 12.01(a) and (b) the Optimal Payment Amount allocable to the Class A Notes. THIRD, to the Class B Holders, an amount equal to the lesser of (a) Available Funds after making all payments under clauses FIRST and SECOND of this Section 12.01(a) and (b) the Optimal Payment Amount allocable to the Class B Notes. FOURTH, to the Class C Holders, an amount equal to the lesser of (a) Available Funds after making all payments under clauses FIRST, SECOND and THIRD of this Section 12.01(a) and (b) the Optimal Payment Amount allocable to the Class C Notes. FIFTH, to the Class D Holders, an amount equal to the lesser of (a) Available Funds after making all payments under clauses FIRST, SECOND, THIRD and FOURTH of this Section 12.01(a) and (b) the Optimal Payment Amount allocable to the Class D Notes. SIXTH, to the Owner Trustee in respect of the Equity Interest, an amount equal to the lesser of (a) Available Funds after making all payments under clauses FIRST, SECOND, THIRD, FOURTH and FIFTH of this Section 12.01(a) and (b) the Optimal P...
Disbursements of Monies from Payment Account. (a) Notwithstanding any other provision herein, but subject to the other subsections of this Section 11.1 and to Section 13.1, on each Payment Date, the Collateral Trustee shall disburse amounts transferred from the Collection Account to the Payment Account pursuant to Section 10.2 in accordance with the following priorities (the “Priority of Payments”); provided that, unless an Enforcement Event has occurred and is continuing and other than as provided in Section 11.1(a)(iv) on any Redemption Date in part but not in whole that is not also a Payment Date, (x) amounts transferred from the Interest Collection Subaccount shall be applied solely in accordance with Section 11.1(a)(i); and (y) amounts transferred from the Principal Collection Subaccount shall be applied solely in accordance with Section 11.1(a)(ii); provided, further, that all payments on the Class A-1 Loans shall be made to the Loan Agent for distribution to the Class A-1 Lenders; provided, further, however, for so long as the Bank is the Collateral Trustee and the Loan Agent, such payments may (but shall not be required to) be made under this Indenture from the Payment Account to the Class A-1 Lenders and in such event shall be deemed to have been made first to the Loan Agent and then distributed to the Class A-1 Lenders.
Disbursements of Monies from Payment Account. (a) Notwithstanding any other provision herein, but subject to the other sub-sections of this Section 11.1 and to Section 13.1, on each Payment Date and, if elected by the Collateral Manager, on each Redemption Distribution Date, the Collateral Trustee shall disburse amounts transferred from the Collection Account to the Payment Account pursuant to Section 10.2 in accordance with the following priorities (the "Priority of Payments"); provided that, unless an Enforcement Event has occurred and is continuing, (x) amounts transferred from the Interest Collection Subaccount shall be applied solely in accordance with Section 11.1(a)(i); and (y) amounts transferred from the Principal Collection Subaccount shall be applied solely in accordance with Section 11.1(a)(ii); provided further however, for so long as the Bank is the Collateral Trustee and the Loan Agent, such payments may (but shall not be required to) be made under this Indenture from the Payment Account to the Class A Lenders and in such event shall be deemed to have been made first to the Loan Agent and then distributed to the Class A Lenders.
Disbursements of Monies from Payment Account. (a) Notwithstanding any other provision in this Indenture, but subject to the other subsections of this Section 11.1 and to Section 13.1, on each Payment Date, the Trustee shall disburse amounts transferred from the Collection Account to the Payment Account pursuant to Section 10.2 (and in respect of the first Payment Date, amounts transferred from the Interest Reserve Account to the Payment Account pursuant to Section 10.3(f)) in accordance with the following priorities (the “Priority of Payments”); provided that, unless an Enforcement Event has occurred and is continuing, (x) amounts transferred from the Interest Collection Account shall be applied solely in accordance with Section 11.1(a)(i); and (y) amounts transferred from the Principal Collection Account shall be applied solely in accordance with Section 11.1(a)(ii).
