Principal Payment Account definition

Principal Payment Account means the account established and maintained pursuant to Section 4.1(b) of the Sale and Servicing Agreement.

Principal Payment Account. The Bank of New York Mellon as Indenture Trustee, as secured party for Ford Credit Auto Owner Trust 2015-B” with account number 4804408400.

Principal Payment Account means each of the Senior Notes Principal Payment Account, the Senior Subordinated Notes Principal Payment Account, and the Subordinated Notes Principal Payment Account.

Examples of Principal Payment Account in a sentence

• The Principal Payment Account is established and maintained solely for administrative purposes.

• All deposits to and withdrawals from the Collection Account, the Principal Payment Account and the Reserve Account will be made in accordance with the Transaction Documents.

• If an institution maintaining one of the Bank Accounts ceases to be a Qualified Institution, the Servicer, with respect to the Collection Account and the Principal Payment Account, or the Depositor, with respect to the Reserve Account, will, with the Indenture Trustee’s or Owner Trustee’s assistance as necessary, within 30 days, move such Bank Account to a Qualified Institution.

• Payment of Class A-1 Principal Distribution Amount from Priority Note Principal Payment Account $ -- 6.

• If an institution maintaining one of the Bank Accounts ceases to be a Qualified Institution, the Servicer, with respect to the Collection Account and the Principal Payment Account, or the Depositor, with respect to the Reserve Account, will, with the Indenture Trustee's or Owner Trustee's assistance as necessary, within 30 calendar days, move such Bank Account to a Qualified Institution.

More Definitions of Principal Payment Account

Principal Payment Account means the account established and maintained under Section 4.1(a)(iii) of the Servicing Supplement.

Principal Payment Account. The Bank of New York as Indenture Trustee, as secured party for Ford Credit Auto Owner Trust 2006-X" with account number [_____].

Principal Payment Account has the meaning assigned to such term in Section 2.02(a)(vi).

Principal Payment Account has the meaning assigned to such term in the Collateral Agency Agreement.

Principal Payment Account. The Bank of New York Mellon as Indenture Trustee, as secured party for Ford Credit Auto Lease Trust 20_-_” with account number [______]; [and “Hedge Counterparty Collateral Account — The Bank of New York Mellon as Indenture Trustee, as secured party for Ford Credit Auto Lease Trust 2011-WH1” with account number [_____]].

Principal Payment Account has the meaning ascribed thereto in the Cash Collateral and Disbursement Agreement.

Principal Payment Account means the Principal Payment Account in the Bond Fund, created by the Trust Agreement.