Designation of Series; Series 2026-1 Notes Sample Clauses

Designation of Series; Series 2026-1 Notes. (a) There is hereby created a Series of Notes under the Series 2026-1 Indenture to be known as the “Series 2026-1 Notes” or, with respect to any Equipment Notes, the “Secured Railcar Equipment Notes, Series 2026-1”. (b) There is hereby created within the Series 2026-1 Notes two separate Classes, designated as the “Class A Notes” and the “Class B Notes”. The Series 2026-1 Notes will be issued in the initial principal balance as set forth below: (i) the Class A Notes will be issued in the initial principal balance of two hundred eighty million four hundred twenty five thousand dollars ($280,425,000); and (ii) the Class B Notes will be issued in the initial principal balance of nineteen million five hundred seventy five thousand dollars ($19,575,000). (c) The Class A Notes are classified as “Additional Notes”, “Series 2026-1 Notes”, “Class A Equipment Notes” and “Fixed Rate Notes”, as each such term is used in the Master Indenture. The Class B Notes are classified as “Additional Notes”, “Series 2026-1 Notes”, “Class B Equipment Notes” and “Fixed Rate Notes”, as each such term is used in the Master Indenture. The Series 2026-1 Notes will be rated on the Closing Date by S&P, and the Series 2026-1 Notes will be paid in accordance with the Flow of Funds. (d) The first Payment Date with respect to the Series 2026-1 Notes shall be the Payment Date in February 2026. (e) Payments of principal on the Series 2026-1 Notes shall be payable from funds on deposit in the 2026-1 Series Account or otherwise at the times and in the amounts set forth in Article III of the Master Indenture and Sections 2.05, 2.06 and 3.02 of this Series 2026-1 Supplement. (f) The Issuer shall pay Series 2026-1 Issuance Expenses out of the proceeds of the Series 2026-1 Notes on the Closing Date and/or from Capital Contributions made to the Issuer on or prior to the Closing Date.