Common use of Final Balance Clause in Contracts

Final Balance. Upon payment of all principal and interest with regard to the Notes, payment of all Premiums, reimbursement of all Swap Termination Payments paid under the Swap Policy and Reimbursement Obligations to the Note Insurer, termination of the Interest Rate Swap Agreement and payment of all amounts payable to the Swap Counterparty and payment of all reasonable fees, charges and other expenses, such as fees and expenses of the Indenture Trustee, all moneys remaining in all Accounts, except moneys necessary to make payments equal to such amounts and payments of principal and interest with respect to the Notes and payments with respect to the Interest Rate Swap Agreement, which moneys shall be held and disbursed by the Indenture Trustee pursuant to this Article V, shall be remitted to the Seller.

Appears in 3 contracts

Sources: Indenture (Capital One Auto Receivables LLC), Indenture (Capital One Auto Receivables LLC), Indenture (Capital One Auto Finance Trust 2002-C)