Payment Direction. The Issuer may by Issuer Order, direct a Note Paying Agent to pay to the Indenture Trustee money held in trust by the Note Paying Agent, which money will be held by the Indenture Trustee on the same terms as the Note Paying Agent. On a Note Paying Agent’s payment of money held in trust to the Indenture Trustee, the Note Paying Agent will be released from liability for such amounts.
Appears in 91 contracts
Samples: Indenture (Ford Credit Auto Owner Trust 2016-B), Indenture (Ford Credit Auto Lease Trust 2017-A), Transfer and Servicing Agreement (Verizon Owner Trust 2020-A)
Payment Direction. The Issuer may by Issuer Order, direct a Note Paying Agent to pay to the Indenture Trustee money held in trust by the Note Paying Agent, which money will be held by the Indenture Trustee on the same terms as the Note Paying Agent. On a Note Paying Agent’s 's payment of money held in trust to the Indenture Trustee, the Note Paying Agent will be released from liability for such amounts.
Appears in 18 contracts
Samples: Indenture (Ford Credit Auto Owner Trust 2022-B), Indenture (Ford Credit Auto Owner Trust 2023-A), Indenture (CAB East LLC)