Common use of Withdrawal on Prefunding Termination Date Clause in Contracts

Withdrawal on Prefunding Termination Date. On the Prefunding Termination Date, the Indenture Trustee shall withdraw all amounts remaining in the Prefunding Account (other than investment earnings related thereto) and deposit such amounts into the Collection Account for distribution on the immediately following Payment Date as a distribution of principal in accordance with Section 3.4 hereof. Upon distribution of the amounts specified in this clause (iii), the Indenture Trustee shall cause the Prefunding Account to be closed.

Appears in 3 contracts

Samples: Silverleaf Resorts Inc, Silverleaf Resorts Inc, Silverleaf Resorts Inc

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Withdrawal on Prefunding Termination Date. On the Prefunding Termination Date, the Indenture Trustee shall withdraw all amounts remaining in the Prefunding Account (other than investment earnings related thereto) and deposit such amounts into the Collection Account for distribution on the immediately following Payment Date as a distribution of principal in accordance with Section 3.4 hereof. Upon distribution of the amounts specified in this clause (iii), the Indenture Trustee shall cause the Prefunding Account to be closed.

Appears in 1 contract

Samples: Indenture (Silverleaf Resorts Inc)

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