Common use of Distributions on Payment Dates Clause in Contracts

Distributions on Payment Dates. Subject to Section 5.1(c), on each Payment Date the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) withdraw from the Exchange Note Collection Account and make deposits and payments, to the extent of (a) Exchange Note Available Funds for the Payment Date and (b) if the 2018-B Exchange Note is accelerated due to an Exchange Note Event of Default, any proceeds from any sale or liquidation of the 2018-B Exchange Note during the related Collection Period, and together with any Shared Amounts allocated to the 2018-B Exchange Note for the Payment Date, in the following order of priority:

Appears in 3 contracts

Samples: Credit and Security Agreement, Credit and Security Agreement (Ford Credit Auto Lease Trust 2018-B), Credit and Security Agreement (Ford Credit Auto Lease Trust 2018-B)

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Distributions on Payment Dates. Subject to Section 5.1(c), on each Payment Date the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) withdraw from the Exchange Note Collection Account and make deposits and payments, to the extent of (a) Exchange Note Available Funds for the Payment Date and (b) if the 20182022-B A Exchange Note is accelerated due to an Exchange Note Event of Default, any proceeds from any sale or liquidation of the 20182022-B A Exchange Note during the related Collection Period, and together with any Shared Amounts allocated to the 20182022-B A Exchange Note for the Payment Date, in the following order of priority:

Appears in 2 contracts

Samples: Exchange Note Supplement (Ford Credit Auto Lease Trust 2022-A), Exchange Note Supplement (Ford Credit Auto Lease Trust 2022-A)

Distributions on Payment Dates. Subject to Section 5.1(c), on each Payment Date the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) withdraw from the Exchange Note Collection Account and make deposits and payments, to the extent of (a) Exchange Note Available Funds for the Payment Date and (b) if the 20182023-B Exchange Note is accelerated due to an Exchange Note Event of Default, any proceeds from any sale or liquidation of the 20182023-B Exchange Note during the related Collection Period, and together with any Shared Amounts allocated to the 20182023-B Exchange Note for the Payment Date, in the following order of priority:

Appears in 2 contracts

Samples: Credit and Security Agreement (Ford Credit Auto Lease Trust 2023-B), Credit and Security Agreement (Ford Credit Auto Lease Trust 2023-B)

Distributions on Payment Dates. Subject to Section 5.1(c), on each Payment Date the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) withdraw from the Exchange Note Collection Account and make deposits and payments, to the extent of (a) Exchange Note Available Funds for the Payment Date and (b) if the 20182017-B Exchange Note is accelerated due to an Exchange Note Event of Default, any proceeds from any sale or liquidation of the 20182017-B Exchange Note during the related Collection Period, and together with any Shared Amounts allocated to the 20182017-B Exchange Note for the Payment Date, in the following order of priority:

Appears in 2 contracts

Samples: Credit and Security Agreement (Ford Credit Auto Lease Trust 2017-B), Credit and Security Agreement (Ford Credit Auto Lease Trust 2017-B)

Distributions on Payment Dates. Subject to Section 5.1(c), on each Payment Date the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) withdraw from the Exchange Note Collection Account and make deposits and payments, to the extent of (a) Exchange Note Available Funds for the Payment Date and (b) if the 20182024-B A Exchange Note is accelerated due to an Exchange Note Event of Default, any proceeds from any sale or liquidation of the 20182024-B A Exchange Note during the related Collection Period, and together with any Shared Amounts allocated to the 20182024-B A Exchange Note for the Payment Date, in the following order of priority:

Appears in 2 contracts

Samples: Exchange Note Supplement (Ford Credit Auto Lease Trust 2024-A), Credit and Security Agreement (Ford Credit Auto Lease Trust 2024-A)

Distributions on Payment Dates. Subject to Section 5.1(c), on each Payment Date the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) withdraw from the Exchange Note Collection Account and make deposits and payments, to the extent of (a) Exchange Note Available Funds for the Payment Date and (b) if the 20182019-B Exchange Note is accelerated due to an Exchange Note Event of Default, any proceeds from any sale or liquidation of the 20182019-B Exchange Note during the related Collection Period, and together with any Shared Amounts allocated to the 20182019-B Exchange Note for the Payment Date, in the following order of priority:

Appears in 2 contracts

Samples: Credit and Security Agreement (Ford Credit Auto Lease Trust 2019-B), Credit and Security Agreement (Ford Credit Auto Lease Trust 2019-B)

Distributions on Payment Dates. Subject to Section 5.1(c), on each Payment Date the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) withdraw from the Exchange Note Collection Account and make deposits and payments, to the extent of (a) Exchange Note Available Funds for the Payment Date and (b) if the 2018-B A Exchange Note is accelerated due to an Exchange Note Event of Default, any proceeds from any sale or liquidation of the 2018-B A Exchange Note during the related Collection Period, and together with any Shared Amounts allocated to the 2018-B A Exchange Note for the Payment Date, in the following order of priority:

Appears in 2 contracts

Samples: Exchange Note Supplement (Ford Credit Auto Lease Trust 2018-A), Credit and Security Agreement (Ford Credit Auto Lease Trust 2018-A)

Distributions on Payment Dates. Subject to Section 5.1(c), on each Payment Date the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) withdraw from the Exchange Note Collection Account and make deposits and payments, to the extent of (a) Exchange Note Available Funds for the Payment Date and (b) if the 20182017-B A Exchange Note is accelerated due to an Exchange Note Event of Default, any proceeds from any sale or liquidation of the 20182017-B A Exchange Note during the related Collection Period, and together with any Shared Amounts allocated to the 20182017-B A Exchange Note for the Payment Date, in the following order of priority:

Appears in 2 contracts

Samples: Exchange Note Supplement (Ford Credit Auto Lease Trust 2017-A), Credit and Security Agreement (Ford Credit Auto Lease Two LLC)

Distributions on Payment Dates. Subject to Section 5.1(c), on each Payment Date the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) withdraw from the Exchange Note Collection Account and make deposits and payments, to the extent of (a) Exchange Note Available Funds for the Payment Date and (b) if the 2018-B 20 - Exchange Note is accelerated due to an Exchange Note Event of Default, any proceeds from any sale or liquidation of the 2018-B 20 - Exchange Note during the related Collection Period, and together with any Shared Amounts allocated to the 2018-B 20 - Exchange Note for the Payment Date, in the following order of priority:

Appears in 2 contracts

Samples: Credit and Security Agreement (CAB West LLC), Credit and Security Agreement (CAB East LLC)

Distributions on Payment Dates. Subject to Section 5.1(c), on each Payment Date the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) withdraw from the Exchange Note Collection Account and make deposits and payments, to the extent of (a) Exchange Note Available Funds for the Payment Date and (b) if the 20182020-B Exchange Note is accelerated due to an Exchange Note Event of Default, any proceeds from any sale or liquidation of the 20182020-B Exchange Note during the related Collection Period, and together with any Shared Amounts allocated to the 20182020-B Exchange Note for the Payment Date, in the following order of priority:

Appears in 2 contracts

Samples: Credit and Security Agreement (Ford Credit Auto Lease Trust 2020-B), Credit and Security Agreement (Ford Credit Auto Lease Trust 2020-B)

Distributions on Payment Dates. Subject to Section 5.1(c), on each Payment Date the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) withdraw from the Exchange Note Collection Account and make deposits and payments, to the extent of (a) Exchange Note Available Funds for the Payment Date and (b) if the 20182021-B A Exchange Note is accelerated due to an Exchange Note Event of Default, any proceeds from any sale or liquidation of the 20182021-B A Exchange Note during the related Collection Period, and together with any Shared Amounts allocated to the 20182021-B A Exchange Note for the Payment Date, in the following order of priority:

Appears in 2 contracts

Samples: Exchange Note Supplement (Ford Credit Auto Lease Trust 2021-A), Credit and Security Agreement (Ford Credit Auto Lease Trust 2021-A)

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Distributions on Payment Dates. Subject to Section 5.1(c), on each Payment Date the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) withdraw from the Exchange Note Collection Account and make deposits and payments, to the extent of (a) Exchange Note Available Funds for the Payment Date and (b) if the 20182020-B A Exchange Note is accelerated due to an Exchange Note Event of Default, any proceeds from any sale or liquidation of the 20182020-B A Exchange Note during the related Collection Period, and together with any Shared Amounts allocated to the 20182020-B A Exchange Note for the Payment Date, in the following order of priority:

Appears in 2 contracts

Samples: Credit and Security Agreement (Ford Credit Auto Lease Trust 2020-A), Credit and Security Agreement (Ford Credit Auto Lease Trust 2020-A)

Distributions on Payment Dates. Subject to Section 5.1(c), on each Payment Date the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) withdraw from the Exchange Note Collection Account and make deposits and payments, to the extent of (a) Exchange Note Available Funds for the Payment Date and (b) if the 20182016-B A Exchange Note is accelerated due to an Exchange Note Event of Default, any proceeds from any sale or liquidation of the 20182016-B A Exchange Note during the related Collection Period, and together with any Shared Amounts allocated to the 20182016-B A Exchange Note for the Payment Date, in the following order of priority:

Appears in 2 contracts

Samples: Exchange Note Supplement (Ford Credit Auto Lease Two LLC), Credit and Security Agreement (Ford Credit Auto Lease Two LLC)

Distributions on Payment Dates. Subject to Section 5.1(c), on each Payment Date the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) withdraw from the Exchange Note Collection Account and make deposits and payments, to the extent of (a) Exchange Note Available Funds for the Payment Date and (b) if the 20182023-B A Exchange Note is accelerated due to an Exchange Note Event of Default, any proceeds from any sale or liquidation of the 20182023-B A Exchange Note during the related Collection Period, and together with any Shared Amounts allocated to the 20182023-B A Exchange Note for the Payment Date, in the following order of priority:

Appears in 2 contracts

Samples: Exchange Note Supplement (Ford Credit Auto Lease Trust 2023-A), Credit and Security Agreement (Ford Credit Auto Lease Trust 2023-A)

Distributions on Payment Dates. Subject to Section 5.1(c), on each Payment Date the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) withdraw from the Exchange Note Collection Account and make deposits and payments, to the extent of (a) Exchange Note Available Funds for the Payment Date and (b) if the 20182021-B Exchange Note is accelerated due to an Exchange Note Event of Default, any proceeds from any sale or liquidation of the 20182021-B Exchange Note during the related Collection Period, and together with any Shared Amounts allocated to the 20182021-B Exchange Note for the Payment Date, in the following order of priority:

Appears in 2 contracts

Samples: Credit and Security Agreement (Ford Credit Auto Lease Trust 2021-B), Credit and Security Agreement (Ford Credit Auto Lease Trust 2021-B)

Distributions on Payment Dates. Subject to Section 5.1(c), on each Payment Date the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) withdraw from the Exchange Note Collection Account and make deposits and payments, to the extent of (a) Exchange Note Available Funds for the Payment Date and (b) if the 20182019-B A Exchange Note is accelerated due to an Exchange Note Event of Default, any proceeds from any sale or liquidation of the 20182019-B A Exchange Note during the related Collection Period, and together with any Shared Amounts allocated to the 20182019-B A Exchange Note for the Payment Date, in the following order of priority:

Appears in 2 contracts

Samples: Exchange Note Supplement (Ford Credit Auto Lease Trust 2019-A), Exchange Note Supplement (Ford Credit Auto Lease Trust 2019-A)

Distributions on Payment Dates. Subject to Section 5.1(c), on each Payment Date the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) withdraw from the Exchange Note Collection Account and make deposits and payments, to the extent of (a) Exchange Note Available Funds for the Payment Date and (b) if the 2018-B 20__-__ Exchange Note is accelerated due to an Exchange Note Event of Default, any proceeds from any sale or liquidation of the 2018-B 20__-__ Exchange Note during the related Collection Period, and together with any Shared Amounts allocated to the 2018-B 20__-__ Exchange Note for the Payment Date, in the following order of priority:

Appears in 1 contract

Samples: Credit and Security Agreement (CAB East LLC)

Distributions on Payment Dates. Subject to Section 5.1(c), on each Payment Date the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) withdraw from the Exchange Note Collection Account and make deposits and payments, to the extent of (a) Exchange Note Available Funds for the Payment Date and (b) if the 2018-B 20 - Exchange Note is accelerated due to following an Exchange Note Event of Default, any proceeds from any sale or liquidation of the 2018-B 20 - Exchange Note during the related Collection Period, and together with any Shared Amounts allocated to the 2018-B 20 - Exchange Note for the Payment Date, in the following order of priority:

Appears in 1 contract

Samples: Credit and Security Agreement (CAB East LLC)

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