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 2012-D” with account number 879715.

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 aggregate of the amounts to be deposited in the Principal Payment Account of the CFC Debt Service Fund pursuant to Section 5.03 hereof shall include amounts sufficient to redeem any Bonds subject to mandatory redemption pursuant to Mandatory Sinking Fund Requirements.

• On the Business Day prior to the date when the principal portion of debt service (including any mandatory sinking fund redemption payments) on the Second Lien Obligations shall be due and payable, monies on deposit in the Second Lien Obligations Principal Payment Account shall be transferred pro rata to the trustee for such principal portion of the Second Lien Obligations in accordance with this Indenture.

• On the Business Day prior to the date when the principal portion of debt service (including any mandatory sinking fund redemption payments) on any Second Lien Obligations shall be due and payable, monies on deposit in the Second Lien Obligations Principal Payment Account shall be transferred pro rata to the trustee for the principal portion of such Second Lien Obligations in accordance with this Indenture.

• There is established in the custody of the Trustee a subaccount within the Principal Payment Account of the CFC Debt Service Fund to be designated “Series 2019 Principal Payment Subaccount”.

• Principal Payment Account Refers to the payment account opened in the Institution, on behalf of the Client, to provide Payment Services.

More Definitions of Principal Payment Account

Principal Payment Account means the account designated as such pursuant to 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 2008-C" with account number 879557; and "Swap Counterparty Collateral Account – The Bank of New York as Indenture Trustee, as secured party for Ford Credit Auto Owner Trust 2008-C" with account number 879558.

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

Principal Payment Account shall have the meaning assigned to such term in Section 2.2(f).

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

Principal Payment Account. The Bank of New York Mellon as Indenture Trustee, as secured party for Ford Credit Auto Owner Trust 20 - ” with account number . [“Hedge Counterparty Collateral Account — The Bank of New York Mellon as Indenture Trustee, as secured party for Ford Credit Auto Owner Trust 20 - ” with account number .]

Principal Payment Account means the account by such name in the Bond Fund from which principal is paid on Common Fund Bonds.