Deposits to Note Payment Account Sample Clauses
The 'Deposits to Note Payment Account' clause establishes the requirement for depositing funds into a designated account specifically for making payments on a note or debt instrument. Typically, this clause outlines who is responsible for making the deposits, the timing and frequency of such deposits, and the types of funds that must be deposited, such as principal and interest payments. By clearly defining the process for funding the payment account, this clause ensures that sufficient funds are available to meet payment obligations, thereby reducing the risk of missed or late payments and providing assurance to the noteholder.
Deposits to Note Payment Account. By the close of business on the fourth Business Day prior to each Payment Date, the Master Servicer shall cause the Servicer to withdraw from the Collection Account the Available Collection Amount and deposit such into the Note Payment Account for such Payment Date.
Deposits to Note Payment Account. On the second Business Day prior to each Payment Date, the Indenture Trustee (based on information provided by the Servicer for such Payment Date) shall withdraw from the Collection Account the Available Collection Amount as a distribution in respect of the Grantor Trust Certificate pursuant to Section 5.02 of the Grantor Trust Agreement and deposit such into the Note Payment Account for such Payment Date.
Deposits to Note Payment Account. On the Withdrawal Date with -------------------------------- respect to each Payment Date, the Indenture Trustee (based on information contained in the Servicer's Monthly Remittance Report for such Payment Date) shall (i) withdraw the Available Collection Amount with respect to such Payment Date from the Collection Account, (x) pay the portion thereof representing one-third of amounts attributable to interest collected during the initial Due Period to the Transferor, (y) pay the portion thereof representing income or gain from investments credited to the Collection Account during the preceding Due Period to the Servicer as Servicing Compensation with respect to such Payment Date, and (z) deposit the remainder in the Note Payment Account and (ii) make withdrawals from the Pre-Funding Account of amounts required to be deposited in the Note Payment Account from such accounts on such Withdrawal Date and deposit into the Note Payment Account the amounts so withdrawn.
Deposits to Note Payment Account. On the Withdrawal Date with -------------------------------- respect to each Payment Date, the Indenture Trustee (based on information contained in the Servicer's Monthly Remittance Report for such Payment Date) shall (i) withdraw the Available Collection Amount with respect to such Payment Date from the Collection Account, pay the portion thereof representing income or gain from investments credited to the Collection Account during the preceding Due Period to the Servicer as Servicing Compensation with respect to such Payment Date, and deposit the remainder in the Note Payment Account and (ii) make withdrawals from the Pre-Funding Account of amounts required to be deposited in the Note Payment Account from such accounts on such Withdrawal Date and deposit into the Note Payment Account the amounts so withdrawn.
Deposits to Note Payment Account. On the third Business Day prior to each Payment Date (for purposes of this Section 5.01(b)(2) the "Withdrawal Date"), the Indenture Trustee (based on information contained in the Servicer's Monthly Remittance Report for such Payment Date) shall (i) withdraw the Available Collection Amount with respect to such Payment Date from the Collection Account, pay the portion thereof representing income or gain from investments credited to the Collection Account during the preceding Due Period to the Servicer as Servicing Compensation with respect to such Payment Date, and deposit the remainder in the Note Payment Account, (ii) withdraw all funds on deposit in the Capitalized Interest Account (excluding any portion thereof that was deposited in the Capitalized Interest Account with respect to an Additional Note Principal Balance for which the related Advance Date occurred on or after the immediately preceding Determination Date) and deposit such funds in the Note Payment Account, and (iii) withdraw all funds on deposit in the Reserve Fund on such Withdrawal Date, pay the portion thereof representing income or gain from investments credited to the Reserve Fund during the preceding Due Period to the Issuer Special Purpose Account, and deposit the remainder in the Note Payment Account.
Deposits to Note Payment Account. On the seventh (7th) Business Day prior to each Payment Date, the Indenture Trustee (based on information provided by the Servicer for such Payment Date) shall withdraw from the Collection Account the Available Collection Amount as a distribution in respect of the Grantor Trust Certificate pursuant to Section 5.01 of the Grantor Trust Agreement and deposit such into the Note Payment Account for such Payment Date.
Deposits to Note Payment Account. On the Remittance Date of each month the Servicer shall instruct the Indenture Trustee to withdraw from the Collection Account the Available Collection Amount and deposit such into the Note Payment Account for such Payment Date.