Principal Funding Account definition

Principal Funding Account shall have the meaning specified in subsection 4.03(a)(i).

Principal Funding Account shall have the meaning set forth in ------------------------- subsection 4.16(a) of the Agreement.

Principal Funding Account means the trust account designated as such and established pursuant to Section 5.01(a).

Examples of Principal Funding Account in a sentence

• The Indenture Trustee shall, at such time as there are no Notes outstanding, release any remaining portion of the Distribution Account and the Principal Funding Account from the Lien of the Indenture and release to or to the order of the Trust or, in the case of the Reserve Account, to the Depositor.

• If Priority Principal Payments are required to be made on any Payment Date prior to the beginning of the Amortization Period in accordance with the provisions of Article VIII, such amounts will be deposited into the Principal Funding Account on such Payment Date in accordance with the provisions of Article VIII, to the extent of Series [_]-[_] Available Funds, in lieu of such amounts being applied to pay principal on the Notes on such Payment Date.

• On the Redemption Date, the Indenture Trustee shall transfer any amounts on deposit in the Reserve Account and the Principal Funding Account into the Distribution Account.

• Amounts on deposit in the Principal Funding Account will be applied in accordance with the provisions of Article VIII.

• Investment earnings (net of losses and investment expenses) on the Distribution Account, the Reserve Account and the Principal Funding Account will be deposited into the Series [_]-[_] Series Certificate Distribution Account per the written direction of the Servicer for distribution to the Certificateholders in the priority set forth in Section 4.1(b) of the Trust Agreement.

More Definitions of Principal Funding Account

Principal Funding Account means the Eligible Deposit Account designated as such and established pursuant to Section 4.06(a).

Principal Funding Account means the account established with the Note Paying Agent for the benefit of the Noteholders under Section 8.2(a).

Principal Funding Account has, with respect to any Series, the meaning specified in the related Indenture Supplement.

Principal Funding Account means the Eligible Deposit Account designated as such and established pursuant to subsection 4.07(a).

Principal Funding Account with account number ;

Principal Funding Account means the trust account designated as such and established pursuant to Section 5.01.

Principal Funding Account with account number 254421002. The Distribution Account set forth in clause (i) above shall constitute the Distribution Account for Series 2023-2. The Reserve Account set forth in clause (ii) above shall constitute the Reserve Account for Series 2023-2. The Principal Funding Account set forth in clause (iii) above shall constitute the Principal Funding Account for Series 2023-2. Each of the Series 2023-2 Accounts (x) shall constitute a Trust Financing Account for Series 2023-2 and (y) has been (or will be) pledged by the Trust to the Indenture Trustee for the sole benefit of the Series 2023-2 Secured Parties of Series 2023-2. No Credit Extensions of any Trust Financing (other than Series 2023-2) shall be secured by any interest in any Series 2023-2 Account. On and after the Closing Date, the Note Paying Agent will maintain the Series 2023-2 Accounts established by the Servicer under this Section 8.2. If an institution maintaining the Series 2023-2 Accounts ceases to be a Qualified Institution, the Indenture Trustee will, with the Servicer’s assistance as necessary, move the Series 2023-2 Accounts to a Qualified Institution within thirty (30) days. Deposits to, and distributions from, the Distribution Account, the Reserve Account and the Principal Funding Account shall be made solely as set forth in this Agreement and, to the extent not inconsistent with this Agreement, in the other Series 2023-2 Series Related Documents.