Common use of Payment to Noteholders Clause in Contracts

Payment to Noteholders. The Issuer will duly and punctually pay the principal of interest, if any, on the Notes in accordance with the terms of the Notes and this Indenture. Without limiting the foregoing, subject to Section 8.02(d), the Issuer will cause to be distributed to the Senior Noteholders and the Subordinate Noteholders in accordance with the Administration Agreement and Section 8.02 hereof that portion of the amounts on deposit in the Trust Accounts on a Quarterly Payment Date which the Noteholders are entitled to receive pursuant to the Administration Agreement. Amounts properly withheld under the Code by any Person from a payment to any Noteholder of interest and/or principal shall be considered as having been paid by the Issuer to such Noteholder for all purposes of this Indenture.