Common use of Payments of Principal Clause in Contracts

Payments of Principal. If, on and after the earliest to occur of (i) the date on which the Series 2008-2 Notes are accelerated pursuant to Section 702 of the Indenture following an Event of Default with respect to Series 2008-2, (ii) any date on or after the Scheduled Principal Payment Date on which the Class A Notes and the Class B Notes have been paid in full and the amount on deposit in the Principal Funding Account available to pay principal of the Class C Notes plus the aggregate amount on deposit in the Spread Account equals or exceeds the Outstanding Dollar Principal Amount of the Class C Notes and (iii) the Legal Maturity Date, the amount on deposit in the Principal Funding Account is insufficient to pay in full the amounts for which withdrawals are required under Section 3.10, an amount equal to that deficiency in the Principal Funding Account for the payment of principal of the Class C Notes will be withdrawn from the Spread Account and deposited into that Principal Funding Account for the Class C Notes on the Distribution Date before the date of the applicable withdrawal required pursuant to Section 3.10.

Payments of Principal. If, on and after the earliest to occur of (i) --------------------- the date on which the Series 2008-2 Class C Notes are accelerated pursuant to Section 702 of ----------- the Indenture following an Event of Default with respect to Series 2008-2such tranche, (ii) any date on or after the Scheduled Transfer Date immediately preceding the Expected Principal Payment Date on which the Class A Notes and the Class B Notes have been paid in full and the amount on deposit in the Principal Funding sub-Account available to pay principal of for the Class C Notes plus the aggregate amount on deposit in the Spread Class C Reserve Account equals or exceeds the Outstanding Dollar Principal Amount of the Class C Notes and (iii) the Legal Maturity DateDate for the Class C Notes, the amount on deposit in the Principal Funding sub-Account for the Class C Notes is insufficient to pay in full the amounts for which withdrawals are required under Section 3.103.14, an amount equal ------------ to that deficiency in the Principal Funding Account for the payment of principal of the Class C Notes will be withdrawn from the Spread Class C Reserve Account and deposited into that Principal Funding sub-Account for the Class C Notes on the Distribution Transfer Date before the date of the applicable withdrawal required pursuant to Section 3.10.3.14. ------------

Payments of Principal. If, on and after the earliest to occur of (i) the date on which the Series 20082007-2 1 Notes are accelerated pursuant to Section 702 of the Indenture following an Event of Default with respect to Series 20082007-21, (ii) any date on or after the Scheduled Principal Payment Date on which the Class A Notes and the Class B Notes have been paid in full and the amount on deposit in the Principal Funding Account available to pay principal of the Class C Notes plus the aggregate amount on deposit in the Spread Account equals or exceeds the Outstanding Dollar Principal Amount of the Class C Notes and (iii) the Legal Maturity Date, the amount on deposit in the Principal Funding Account is insufficient to pay in full the amounts for which withdrawals are required under Section 3.10, an amount equal to that deficiency in the Principal Funding Account for the payment of principal of the Class C Notes will be withdrawn from the Spread Account and deposited into that Principal Funding Account for the Class C Notes on the Distribution Date before the date of the applicable withdrawal required pursuant to Section 3.10.

Payments of Principal. If, on and after the earliest to occur of (i) the date on which the Series 2008-2 1 Notes are accelerated pursuant to Section 702 of the Indenture following an Event of Default with respect to Series 2008-21, (ii) any date on or after the Scheduled Principal Payment Date on which the Class A Notes and the Class B Notes have been paid in full and the amount on deposit in the Principal Funding Account available to pay principal of the Class C Notes plus the aggregate amount on deposit in the Spread Account equals or exceeds the Outstanding Dollar Principal Amount of the Class C Notes and (iii) the Legal Maturity Date, the amount on deposit in the Principal Funding Account is insufficient to pay in full the amounts for which withdrawals are required under Section 3.10, an amount equal to that deficiency in the Principal Funding Account for the payment of principal of the Class C Notes will be withdrawn from the Spread Account and deposited into that Principal Funding Account for the Class C Notes on the Distribution Date before the date of the applicable withdrawal required pursuant to Section 3.10.

Payments of Principal. If, on and after the earliest to occur of (i) the date on which the Series 20082006-2 1 Notes are accelerated pursuant to Section 702 of the Indenture following an Event of Default with respect to Series 20082006-21, (ii) any date on or after the Scheduled Principal Payment Date on which the Class A Notes and the Class B Notes have been paid in full and the amount on deposit in the Principal Funding Account available to pay principal of the Class C Notes plus the aggregate amount on deposit in the Spread Account equals or exceeds the Outstanding Dollar Principal Amount of the Class C Notes and (iii) the Legal Maturity Date, the amount on deposit in the Principal Funding Account is insufficient to pay in full the amounts for which withdrawals are required under Section 3.10, an amount equal to that deficiency in the Principal Funding Account for the payment of principal of the Class C Notes will be withdrawn from the Spread Account and deposited into that Principal Funding Account for the Class C Notes on the Distribution Date before the date of the applicable withdrawal required pursuant to Section 3.10.

Payments of Principal. If, on and after the earliest to occur of (i) the date on which the Series 20082005-2 1 Notes are accelerated pursuant to Section 702 of the Indenture following an Event of Default with respect to Series 20082005-21, (ii) any date on or after the Scheduled Principal Payment Date on which the Class A Notes and the Class B Notes have been paid in full and the amount on deposit in the Principal Funding Account available to pay principal of the Class C Notes plus the aggregate amount on deposit in the Spread Account equals or exceeds the Outstanding Dollar Principal Amount of the Class C Notes and (iii) the Legal Maturity Date, the amount on deposit in the Principal Funding Account is insufficient to pay in full the amounts for which withdrawals are required under Section 3.10, an amount equal to that deficiency in the Principal Funding Account for the payment of principal of the Class C Notes will be withdrawn from the Spread Account and deposited into that Principal Funding Account for the Class C Notes on the Distribution Date before the date of the applicable withdrawal required pursuant to Section 3.10.

Payments of Principal. If, on and after the earliest to occur of (i) the date on which the Series 2008-2 3 Notes are accelerated pursuant to Section 702 of the Indenture following an Event of Default with respect to Series 2008-23, (ii) any date on or after the Scheduled Principal Payment Date on which the Class A Notes and the Class B Notes have been paid in full and the amount on deposit in the Principal Funding Account available to pay principal of the Class C Notes plus the aggregate amount on deposit in the Spread Account equals or exceeds the Outstanding Dollar Principal Amount of the Class C Notes and (iii) the Legal Maturity Date, the amount on deposit in the Principal Funding Account is insufficient to pay in full the amounts for which withdrawals are required under Section 3.10, an amount equal to that deficiency in the Principal Funding Account for the payment of principal of the Class C Notes will be withdrawn from the Spread Account and deposited into that Principal Funding Account for the Class C Notes on the Distribution Date before the date of the applicable withdrawal required pursuant to Section 3.10.