Common use of Principal Collection Subaccount Clause in Contracts

Principal Collection Subaccount. (f) If, on any Business Day during the Series 2011-1 Revolving Period, other than during any Paydown Period, the sum of (i) the Series 2011-1 Daily Principal Allocation and (ii) the amount on deposit in the Series 2011-1 Principal Collection Subaccount on such Business Day is less than the Daily Principal Utilization Amount for such Business Day, the Administrator will direct the Indenture Trustee in writing, prior to 1:00 P.M., New York City time, to withdraw

Appears in 1 contract

Samples: Master Agreement (PHH Corp)

AutoNDA by SimpleDocs

Principal Collection Subaccount. (f) If, on any Business Day during the Series 20112010-1 Revolving Period, other than during any Paydown Period, the sum of (i) the Series 20112010-1 Daily Principal Allocation and (ii) the amount on deposit in the Series 20112010-1 Principal Collection Subaccount on such Business Day is less than the Daily Principal Utilization Amount for such Business Day, the Administrator will direct the Indenture Trustee in writing, prior to 1:00 P.M., New York City time, to withdrawwithdraw an amount equal to such deficit from the Series 2010-1 General Collection Subaccount and deposit it into the Series 2010-1

Appears in 1 contract

Samples: Purchase and Sale (PHH Corp)

Principal Collection Subaccount. (f) If, on any Business Day during the Series 20112010-1 Revolving Period, other than during any Paydown Period, the sum of (i) the Series 20112010-1 Daily Principal Allocation and (ii) the amount on deposit in the Series 20112010-1 Principal Collection Subaccount on such Business Day is less than the Daily Principal Utilization Amount for such Business Day, the Administrator will direct the Indenture Trustee in writing, prior to 1:00 P.M., New York City time, to withdraw

Appears in 1 contract

Samples: Master Agreement (PHH Corp)

AutoNDA by SimpleDocs

Principal Collection Subaccount. (fe) If, on any Business Day during the Series 2011-1 Revolving Period, other than during any Paydown Period, If the sum of (i) the Series 20111999-1 Daily Principal Allocation and (ii) the amount on deposit in the Series 20111999-1 Principal Collection Subaccount on such any Business Day is less than the Daily Principal Utilization Amount for such Business Day, the Administrator will direct the Indenture Trustee in writing, prior to 1:00 P.M., New York City time, to withdrawwithdraw an amount equal to such deficit from the Series 1999-1 General Collection Subaccount and deposit it into the Series 1999-1

Appears in 1 contract

Samples: Fah Co Inc

Time is Money Join Law Insider Premium to draft better contracts faster.