Interest Rate Swap Agreements. (a) [The Issuing Entity shall on or prior to the Closing Date enter into the Interest Rate Swap Agreements with the Counterparties for the benefit of the Noteholders and Certificateholders, in form and substance reasonably acceptable by the Issuing Entity, the Counterparties and the Indenture Trustee, such that the aggregate notional amount under the Form of Sale and Servicing Agreement Interest Rate Swap Agreements shall, at any time, be equal to the Outstanding Amount of the Class Notes at such time. Net Swap Receipts shall be deposited by the Indenture Trustee into the Collection Account on the day received and shall constitute part of the Total Distribution Amount. On any Payment Date when there shall be a Net Swap Payment, the Indenture Trustee shall pay such Net Swap Payment from the Total Distribution Amount.]
Appears in 4 contracts
Samples: Sale and Servicing Agreement (John Deere Receivables, Inc.), Sale and Servicing Agreement (John Deere Receivables, Inc.), Sale and Servicing Agreement (John Deere Receivables, Inc.)
Interest Rate Swap Agreements. (a) [The Issuing Entity shall on or prior to the Closing Date enter into the Interest Rate Swap Agreements with the Counterparties for the benefit of the Noteholders and Certificateholders, in form and substance reasonably acceptable by the Issuing Entity, the Counterparties and the Indenture Trustee, such that the aggregate notional amount under the Form of Sale and Servicing Agreement Interest Rate Swap Agreements shall, at any time, be equal to the Outstanding Amount of the Class [ ] Notes at such time. Net Swap Receipts shall be deposited by the Indenture Trustee into the Collection Account on the day received and shall constitute part of the Total Distribution Amount. On any Payment Date when there shall be a Net Swap Payment, the Indenture Trustee shall pay such Net Swap Payment from the Total Distribution Amount.]
Appears in 2 contracts
Samples: Sale and Servicing Agreement (John Deere Receivables LLC), Sale and Servicing Agreement (John Deere Receivables, Inc.)
Interest Rate Swap Agreements. (a) [The Issuing Entity shall on or prior to the Closing Date enter into the Interest Rate Swap Agreements with the Counterparties for the benefit of the Noteholders and Certificateholders, in form and substance reasonably acceptable by the Issuing Entity, the Counterparties and the Indenture Trustee, such that the aggregate notional amount under the Form of Sale and Servicing Agreement Interest Rate Swap Agreements shall, at any time, be equal to the Outstanding Amount of the Class ____ Notes at such time. Net Swap Receipts shall be deposited by the Indenture Trustee into the Collection Account on the day received and shall constitute part of the Total Distribution Amount. On any Payment Date when there shall be a Net Swap Payment, the Indenture Trustee shall pay such Net Swap Payment from the Total Distribution Amount.]
Appears in 1 contract
Samples: Sale and Servicing Agreement (John Deere Receivables, Inc.)
Interest Rate Swap Agreements. (a) [The Issuing Entity shall on or prior to the Closing Date enter into the Interest Rate Swap Agreements with the Counterparties for the benefit of the Noteholders and Certificateholders, in form and substance reasonably acceptable by the Issuing Entity, the Counterparties and the Indenture Trustee, such that the aggregate notional amount under the Form of Sale and Servicing Agreement Interest Rate Swap Agreements shall, at any time, be equal to the Outstanding Amount of the Class [o] Notes at such time. Net Swap Receipts shall be deposited by the Indenture Trustee into the Collection Account on the day received and shall constitute part of the Total Distribution Amount. On any Payment Date when there shall be a Net Swap Payment, the Indenture Trustee shall pay such Net Swap Payment from the Total Distribution Amount.]
Appears in 1 contract
Samples: Sale and Servicing Agreement (Deere John Receivables Inc)
Interest Rate Swap Agreements. (a) [The Issuing Entity shall on or prior to the Closing Date enter into the Interest Rate Swap Agreements with the Counterparties for the benefit of the Noteholders and Certificateholders, in form and substance reasonably acceptable by the Issuing Entity, the Counterparties and the Indenture Trustee, such that the aggregate notional amount under the Form of Sale and Servicing Agreement Interest Rate Swap Agreements shall, at any time, be equal to the Outstanding Amount of the Class [__] Notes at such time. Net Swap Receipts shall be deposited by the Indenture Trustee into the Collection Account on the day received and shall constitute part of the Total Distribution Amount. On any Payment Date when there shall be a Net Swap Payment, the Indenture Trustee shall pay such Net Swap Payment from the Total Distribution Amount.]
Appears in 1 contract
Samples: Sale and Servicing Agreement (John Deere Receivables LLC)