Common use of Payments Following Acceleration and any Sale of Collateral Clause in Contracts

Payments Following Acceleration and any Sale of Collateral. Any money or property deposited with the Indenture Trustee as Series 2022-2 Available Funds after the occurrence of an Event of Default with respect to Group 1 that has not been waived or cured and an acceleration of the Notes, including after the sale of Group 1 Assets and, to the extent required, a portion of the Group Assets of any other Group, as set forth in Section 6.1 of the Master Collateral Agreement, will be deposited in the Distribution Account for distribution according to Section 8.2(e) on the Payment Date after the Collection Period during which those amounts are collected. In all other circumstances, Section 8.2(c) will continue to apply after an Event of Default with respect to Group 1.

Appears in 2 contracts

Samples: Verizon Master Trust, Verizon Master Trust

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Payments Following Acceleration and any Sale of Collateral. Any money or property deposited with the Indenture Trustee as Series 2022-2 4 Available Funds after the occurrence of an Event of Default with respect to Group 1 that has not been waived or cured and an acceleration of the Notes, including after the sale of Group 1 Assets and, to the extent required, a portion of the Group Assets of any other Group, as set forth in Section 6.1 of the Master Collateral Agreement, will be deposited in the Distribution Account for distribution according to Section 8.2(e) on the Payment Date after the Collection Period during which those amounts are collected. In all other circumstances, Section 8.2(c) will continue to apply after an Event of Default with respect to Group 1.

Appears in 2 contracts

Samples: Verizon Master Trust, Verizon Master Trust

Payments Following Acceleration and any Sale of Collateral. Any money or property deposited with the Indenture Trustee as Series 2022-2 7 Available Funds after the occurrence of an Event of Default with respect to Group 1 that has not been waived or cured and an acceleration of the Notes, including after the sale of Group 1 Assets and, to the extent required, a portion of the Group Assets of any other Group, as set forth in Section 6.1 of the Master Collateral Agreement, will be deposited in the Distribution Account for distribution according to Section 8.2(e) on the Payment Date after the Collection Period during which those amounts are collected. In all other circumstances, Section 8.2(c) will continue to apply after an Event of Default with respect to Group 1.

Appears in 2 contracts

Samples: Verizon Master Trust, Verizon Master Trust

Payments Following Acceleration and any Sale of Collateral. Any money or property deposited with the Indenture Trustee as Series 20222021-2 Available Funds after the occurrence of an Event of Default with respect to Group 1 that has not been waived or cured and an acceleration of the Notes, including after the sale of Group 1 Assets and, to the extent required, a portion of the Group Assets of any other Group, as set forth in Section 6.1 of the Master Collateral Agreement, will be deposited in the Distribution Account for distribution according to Section 8.2(e) on the Payment Date after the Collection Period during which those amounts are collected. In all other circumstances, Section 8.2(c) will continue to apply after an Event of Default with respect to Group 1.

Appears in 2 contracts

Samples: Verizon Master Trust, Verizon Master Trust

Payments Following Acceleration and any Sale of Collateral. Any money or property deposited with the Indenture Trustee as Series 20222023-2 5 Available Funds after the occurrence of an Event of Default with respect to Group 1 that has not been waived or cured and an acceleration of the Notes, including after the sale of Group 1 Assets and, to the extent required, a portion of the Group Assets of any other Group, as set forth in Section 6.1 of the Master Collateral Agreement, will be deposited in the Distribution Account for distribution according to Section 8.2(e) on the Payment Date after the Collection Period during which those amounts are collected. In all other circumstances, Section 8.2(c) will continue to apply after an Event of Default with respect to Group 1.

Appears in 2 contracts

Samples: Verizon Master Trust, Verizon Master Trust

Payments Following Acceleration and any Sale of Collateral. Any money or property deposited with the Indenture Trustee as Series 20222024-2 1 Available Funds after the occurrence of an Event of Default with respect to Group 1 that has not been waived or cured and an acceleration of the Notes, including after the sale of Group 1 Assets and, to the extent required, a portion of the Group Assets of any other Group, as set forth in Section 6.1 of the Master Collateral Agreement, will be deposited in the Distribution Account for distribution according to Section 8.2(e) on the Payment Date after the Collection Period during which those amounts are collected. In all other circumstances, Section 8.2(c) will continue to apply after an Event of Default with respect to Group 1.

Appears in 2 contracts

Samples: Verizon Master Trust, Verizon Master Trust

Payments Following Acceleration and any Sale of Collateral. Any money or property deposited with the Indenture Trustee as Series 20222024-2 3 Available Funds after the occurrence of an Event of Default with respect to Group 1 that has not been waived or cured and an acceleration of the Notes, including after the sale of Group 1 Assets and, to the extent required, a portion of the Group Assets of any other Group, as set forth in Section 6.1 of the Master Collateral Agreement, will be deposited in the Distribution Account for distribution according to Section 8.2(e) on the Payment Date after the Collection Period during which those amounts are collected. In all other circumstances, Section 8.2(c) will continue to apply after an Event of Default with respect to Group 1.

Appears in 2 contracts

Samples: Verizon Master Trust, Verizon Master Trust

Payments Following Acceleration and any Sale of Collateral. Any money or property deposited with the Indenture Trustee as Series 20222023-2 1 Available Funds after the occurrence of an Event of Default with respect to Group 1 that has not been waived or cured and an acceleration of the Notes, including after the sale of Group 1 Assets and, to the extent required, a portion of the Group Assets of any other Group, as set forth in Section 6.1 of the Master Collateral Agreement, will be deposited in the Distribution Account for distribution according to Section 8.2(e) on the Payment Date after the Collection Period during which those amounts are collected. In all other circumstances, Section 8.2(c) will continue to apply after an Event of Default with respect to Group 1.

Appears in 2 contracts

Samples: Verizon Master Trust, Verizon Master Trust

Payments Following Acceleration and any Sale of Collateral. Any money or property deposited with the Indenture Trustee as Series 2022-2 3 Available Funds after the occurrence of an Event of Default with respect to Group 1 that has not been waived or cured and an acceleration of the Notes, including after the sale of Group 1 Assets and, to the extent required, a portion of the Group Assets of any other Group, as set forth in Section 6.1 of the Master Collateral Agreement, will be deposited in the Distribution Account for distribution according to Section 8.2(e) on the Payment Date after the Collection Period during which those amounts are collected. In all other circumstances, Section 8.2(c) will continue to apply after an Event of Default with respect to Group 1.

Appears in 2 contracts

Samples: Verizon Master Trust, Verizon Master Trust

Payments Following Acceleration and any Sale of Collateral. Any money or property deposited with the Indenture Trustee as Series 20222023-2 7 Available Funds after the occurrence of an Event of Default with respect to Group 1 that has not been waived or cured and an acceleration of the Notes, including after the sale of Group 1 Assets and, to the extent required, a portion of the Group Assets of any other Group, as set forth in Section 6.1 of the Master Collateral Agreement, will be deposited in the Distribution Account for distribution according to Section 8.2(e) on the Payment Date after the Collection Period during which those amounts are collected. In all other circumstances, Section 8.2(c) will continue to apply after an Event of Default with respect to Group 1.

Appears in 2 contracts

Samples: Verizon Master Trust, Verizon Master Trust

Payments Following Acceleration and any Sale of Collateral. Any money or property deposited with the Indenture Trustee as Series 2022-2 1 Available Funds after the occurrence of an Event of Default with respect to Group 1 that has not been waived or cured and an acceleration of the Notes, including after the sale of Group 1 Assets and, to the extent required, a portion of the Group Assets of any other Group, as set forth in Section 6.1 of the Master Collateral Agreement, will be deposited in the Distribution Account for distribution according to Section 8.2(e) on the Payment Date after the Collection Period during which those amounts are collected. In all other circumstances, Section 8.2(c) will continue to apply after an Event of Default with respect to Group 1.

Appears in 2 contracts

Samples: Verizon Master Trust, Verizon Master Trust

Payments Following Acceleration and any Sale of Collateral. Any money or property deposited with the Indenture Trustee as Series 20222023-2 Available Funds after the occurrence of an Event of Default with respect to Group 1 that has not been waived or cured and an acceleration of the Notes, including after the sale of Group 1 Assets and, to the extent required, a portion of the Group Assets of any other Group, as set forth in Section 6.1 of the Master Collateral Agreement, will be deposited in the Distribution Account for distribution according to Section 8.2(e) on the Payment Date after the Collection Period during which those amounts are collected. In all other circumstances, Section 8.2(c) will continue to apply after an Event of Default with respect to Group 1.

Appears in 2 contracts

Samples: Indenture (Verizon Master Trust), Verizon Master Trust

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Payments Following Acceleration and any Sale of Collateral. Any money or property deposited with the Indenture Trustee as Series 20222023-2 4 Available Funds after the occurrence of an Event of Default with respect to Group 1 that has not been waived or cured and an acceleration of the Notes, including after the sale of Group 1 Assets and, to the extent required, a portion of the Group Assets of any other Group, as set forth in Section 6.1 of the Master Collateral Agreement, will be deposited in the Distribution Account for distribution according to Section 8.2(e) on the Payment Date after the Collection Period during which those amounts are collected. In all other circumstances, Section 8.2(c) will continue to apply after an Event of Default with respect to Group 1.

Appears in 2 contracts

Samples: Verizon Master Trust, Verizon Master Trust

Payments Following Acceleration and any Sale of Collateral. Any money or property deposited with the Indenture Trustee as Series 20222021-2 1 Available Funds after the occurrence of an Event of Default with respect to Group 1 that has not been waived or cured and an acceleration of the Notes, including after the sale of Group 1 Assets and, to the extent required, a portion of the Group Assets of any other Group, as set forth in Section 6.1 of the Master Collateral Agreement, will be deposited in the Distribution Account for distribution according to Section 8.2(e) on the Payment Date after the Collection Period during which those amounts are collected. In all other circumstances, Section 8.2(c) will continue to apply after an Event of Default with respect to Group 1.

Appears in 2 contracts

Samples: Verizon Master Trust, Verizon Master Trust

Payments Following Acceleration and any Sale of Collateral. Any money or property deposited with the Indenture Trustee as Series 20222023-2 3 Available Funds after the occurrence of an Event of Default with respect to Group 1 that has not been waived or cured and an acceleration of the Notes, including after the sale of Group 1 Assets and, to the extent required, a portion of the Group Assets of any other Group, as set forth in Section 6.1 of the Master Collateral Agreement, will be deposited in the Distribution Account for distribution according to Section 8.2(e) on the Payment Date after the Collection Period during which those amounts are collected. In all other circumstances, Section 8.2(c) will continue to apply after an Event of Default with respect to Group 1.

Appears in 1 contract

Samples: Verizon Master Trust

Payments Following Acceleration and any Sale of Collateral. Any money or property deposited with the Indenture Trustee as Series 20222023-2 6 Available Funds after the occurrence of an Event of Default with respect to Group 1 that has not been waived or cured and an acceleration of the Notes, including after the sale of Group 1 Assets and, to the extent required, a portion of the Group Assets of any other Group, as set forth in Section 6.1 of the Master Collateral Agreement, will be deposited in the Distribution Account for distribution according to Section 8.2(e) on the Payment Date after the Collection Period during which those amounts are collected. In all other circumstances, Section 8.2(c) will continue to apply after an Event of Default with respect to Group 1.

Appears in 1 contract

Samples: Verizon Master Trust

Payments Following Acceleration and any Sale of Collateral. Any money or property deposited with the Indenture Trustee as Series 2022-2 6 Available Funds after the occurrence of an Event of Default with respect to Group 1 that has not been waived or cured and an acceleration of the Notes, including after the sale of Group 1 Assets and, to the extent required, a portion of the Group Assets of any other Group, as set forth in Section 6.1 of the Master Collateral Agreement, will be deposited in the Distribution Account for distribution according to Section 8.2(e) on the Payment Date after the Collection Period during which those amounts are collected. In all other circumstances, Section 8.2(c) will continue to apply after an Event of Default with respect to Group 1.

Appears in 1 contract

Samples: Verizon Master Trust

Payments Following Acceleration and any Sale of Collateral. Any money or property deposited with the Indenture Trustee as Series 20222024-2 Available Funds after the occurrence of an Event of Default with respect to Group 1 that has not been waived or cured and an acceleration of the Notes, including after the sale of Group 1 Assets and, to the extent required, a portion of the Group Assets of any other Group, as set forth in Section 6.1 of the Master Collateral Agreement, will be deposited in the Distribution Account for distribution according to Section 8.2(e) on the Payment Date after the Collection Period during which those amounts are collected. In all other circumstances, Section 8.2(c) will continue to apply after an Event of Default with respect to Group 1.

Appears in 1 contract

Samples: Verizon Master Trust

Payments Following Acceleration and any Sale of Collateral. Any money or property deposited with the Indenture Trustee as Series 2022-2 5 Available Funds after the occurrence of an Event of Default with respect to Group 1 that has not been waived or cured and an acceleration of the Notes, including after the sale of Group 1 Assets and, to the extent required, a portion of the Group Assets of any other Group, as set forth in Section 6.1 of the Master Collateral Agreement, will be deposited in the Distribution Account for distribution according to Section 8.2(e) on the Payment Date after the Collection Period during which those amounts are collected. In all other circumstances, Section 8.2(c) will continue to apply after an Event of Default with respect to Group 1.

Appears in 1 contract

Samples: Verizon Master Trust

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