Series Distribution Account definition

Series Distribution Account shall have the meaning specified in Section 8.

Series Distribution Account means, with respect to any Series of Notes or any Class of any Series of Notes, an account established to receive distributions to be paid to the Noteholders of such Class or such Series of Notes pursuant to the applicable Series Supplement.

Series Distribution Account with respect to any Series shall have the meaning specified in the applicable Series Supplement.

Examples of Series Distribution Account in a sentence

• The Paying Agent also shall have the revocable authority to make withdrawals from the Series Distribution Account.

• The Trust shall possess all right, title and interest in all funds on deposit in the Series Distribution Account, the Series Collections Account and the Series Principal Collections Account; provided, however, that all interest and earnings (less investment expenses) on funds on deposit in any such account shall be paid to the Holder of the Seller Certificate in accordance with Section 4.02(c) of the Pooling and Servicing Agreement.

• Pursuant to authority granted to it pursuant to Section 3.01(b) of the Pooling and Servicing Agreement, the Master Servicer shall have the revocable power to instruct the Trustee to withdraw funds from the Series Distribution Account, the Series Collections Account and the Series Principal Collections Account for the purpose of carrying out the duties of the Master Servicer hereunder.

• The Master Servicer at all times shall maintain accurate records reflecting each transaction in the Series Distribution Account, the Series Collections Account and the Series Principal Collections Account.

• The Master Servicer shall direct the Trustee in writing to withdraw the amount allocable to such Class from the Series Distribution Account and pay such amount to the Investor Certificateholders of such Class pursuant to Section 12.02 of the Pooling and Servicing Agreement.

• If applicable, on or before the first Distribution Date following a Series Pre-Funding Deadline, all amounts on deposit in the Series Pre-Funding Account shall be deposited into the Series Distribution Account.

• The Trust shall possess all right, title and interest in all funds on deposit in the Series Distribution Account, the Series Collections Account and the Series Principal Collections Account.

• Pursuant to authority granted to it under Section 3.01(b) of the Pooling and Servicing Agreement, the Servicer shall have the revocable power to instruct the Trustee to withdraw funds from the Series Distribution Account, the Series Collections Account and the Series Principal Collections Account for the purpose of carrying out the duties of the Servicer hereunder.

• If applicable, an amount equal to the lesser of (A) the Class B Modified Required Amount Shortfall and (B) funds, if any, available to pay such Class B Modified Required Amount Shortfall from funds initially allocated to any Subordinate Series shall be deposited into the Series Distribution Account.

• The Servicer at all times shall maintain accurate records reflecting each transaction in the Series Distribution Account, the Series Collections Account and the Series Principal Collections Account.

More Definitions of Series Distribution Account

Series Distribution Account means, with respect to any Series of Notes or any Class of any Series of Notes, an account established to receive distributions to be paid to the Noteholders of such Series of Notes or such Class pursuant to the applicable Series Supplement. “Series Legal Final Maturity Date” means, with respect to any Series, the “Series Legal Final Maturity Date” set forth in the related Series Supplement. “Series Non-Amortization Test” for any Series of Notes, has the meaning specified in the applicable Series Supplement or, if not specified therein, means a test that will be satisfied on any Quarterly Payment Date if the level of both the Driven Brands Leverage Ratio and the Senior Leverage Ratio are each less than or equal to 5.00:1.00 as calculated on the Quarterly Calculation Date immediately preceding such Quarterly Payment Date. “Series Obligations” means, with respect to a Series of Notes, (a) all principal, interest, premiums and make-whole payments, if any, at any time and from time to time, owing by the Co-Issuers on such Series of Notes or owing by the Guarantors pursuant to the Guarantee and Collateral Agreement on such Series of Notes and (b) the payment and performance of all other obligations, covenants and liabilities of the Issuer or the Guarantors arising under the Indenture, the Notes or any other Indenture Document, in each case, solely with respect to such Series of Notes. “Series Pre-Funded Acquisition Conditions” are set forth in the related Series Supplement. “Series Refinancing Event” means the issuance of Additional Notes in conjunction with the payment in full, satisfaction and discharge or termination or defeasance of all other Series of Notes outstanding at such time. “Series Supplement” means a supplement to the Base Indenture complying (to the extent applicable) with the terms of Section 2.3 of the Base Indenture. “Service Recipients” means, (x) with respect to the U.S. Manager, the U.S. Securitization Entities, Take 5 and Take 5 Oil and (y) with respect to the Canadian Manager, the Canadian Securitization Entities.

Series Distribution Account means a bank account in the name of the Series [*] Investor Beneficiary to be used for the purpose of receiving amounts distributable to the Series [*] Investor Beneficiary for the purposes of calculation treated as referable to Class A, Class B, Class C and Class D from the Receivables Trust;

Series Distribution Account means an account created and maintained with respect to a separate Series of the Trust pursuant to Section 9.03.

Series Distribution Account means the account in the name of the MTN Issuer at Barclays Bank PLC, 1 Churchill Place, London E14 5HP (account number [*] sort code [*]);

Series Distribution Account means the accounts, at the Account Bank or with another bank which meets Rating Agency approval, opened pursuant to the Series Distribution Account Bank Agreement in relation to all notes of a Series;