Class A Note Payment Account definition

Class A Note Payment Account means the Eligible Deposit Account designated as such and established pursuant to subsection 4.08(a).
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Class A Note Payment Account. The account established and maintained as such pursuant to Section 3.1(b)(i).
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Class A Note Payment Account. The Class A Note Payment Account shall be held in trust for the benefit of the Class A Noteholders and the Insurer. The Class A Note Payment Account shall be under the sole dominion and control of the Indenture Trustee; provided, however, that the Servicer may make deposits to and direct the Indenture Trustee in writing to make withdrawals from the Class A Note Payment Account in accordance with this Agreement and the Indenture. All monies deposited from time to time in the Class A Note Payment Account pursuant to this Agreement and the Indenture shall be held by the Indenture Trustee as part of the Trust Property and shall be applied as provided in this Agreement and the Indenture. The amounts on deposit in the Class A Note Payment Account shall not be invested. If the Class A Note Payment Account is no longer to be maintained at the Indenture Trustee, the Servicer shall, with the Indenture Trustee’s assistance as necessary, cause the Class A Note Payment Account to be moved to an Eligible Institution within ten (10) Business Days (or such longer period not to exceed thirty (30) calendar days as to which each Rating Agency and the Insurer (provided that no Insurer Default shall have occurred and is continuing) may consent). The Servicer shall promptly notify the Indenture Trustee, the Rating Agencies, the Insurer and the Owner Trustee of any change in the account number or location of the Class A Note Payment Account; and
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Examples of Class A Note Payment Account in a sentence

  • The Class A Note Payment Account shall be under the exclusive control of the Indenture Trustee for the benefit of the Class A Noteholders.

  • The Indenture Trustee shall possess all right, title and interest in all funds and property from time to time credited to the Class A Note Payment Account and in all proceeds thereof.

  • If at any time the Class A Note Payment Account ceases to be an Eligible Deposit Account, the Indenture Trustee (or the Servicer on its behalf) shall within ten Business Days (or such longer period, so long as the Note Rating Agency Condition is satisfied) establish a new Class A Note Payment Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any funds or other property to such new Class A Note Payment Account.

  • Any withdrawals from the Class A Note Payment Account for payment of principal to the Holders of the Class A Notes shall not be subtracted under clause (a) of Outstanding Dollar Principal Amount in the Indenture.

  • The Class A Note Payment Account shall be considered a Supplemental Issuer Account and held by the Indenture Trustee in accordance with subsection 5.02(c) of the Indenture.

  • The Issuer shall deposit or arrange for the deposit of (a) all amounts received from the Swap Counterparty under the Swap Agreement, other than any Counterparty Termination Payment, any Collateral Deposit Amounts and any amounts received in respect of the Party A Initial Exchange Amount (as defined in the Swap Agreement) and (b) all amounts received by the Administrator pursuant toSection 4.20, to the Class A Note Payment Account or as otherwise directed by the Indenture Trustee.

  • The Issuer shall deposit or arrange for the deposit of (a) all amounts received from the Swap Counterparty under the Swap Agreement, other than any Counterparty Termination Payment, any Collateral Deposit Amounts and any amounts received in respect of the Party A Initial Exchange Amount (as defined in the Swap Agreement) and (b) all amounts received by the Administrator pursuant to Section 4.20, to the Class A Note Payment Account or as otherwise directed by the Indenture Trustee.

Related to Class A Note Payment Account

  • Note Payment Account means the account established and maintained as such pursuant to Section 4.1(b).

  • Certificate Payment Account means the account established and maintained as such pursuant to Section 4.1(c).

  • Class A Noteholders’ Monthly Accrued Interest means, with respect to any Payment Date, the aggregate interest accrued for the related Interest Period on the Class A-1 Notes, the Class A-2 Notes and the Class A-3 Notes at the respective Interest Rate for such Class on the Note Balance of the Notes of each such Class on the immediately preceding Payment Date or the Closing Date, as the case may be, after giving effect to all payments of principal to the Noteholders of the Notes of such Class on or prior to such preceding Payment Date.

  • Class A Note means any Class A-1 Note, Class A-2 Note, Class A-3 Note or Class A-4 Note.

  • Class A Noteholders’ Principal Distribution Amount means, for any distribution date, the Principal Distribution Amount times the Class A Percentage for that distribution date, plus any Class A Note Principal Shortfall as of the close of business on the preceding distribution date; provided that the Class A Noteholders’ Principal Distribution Amount will not exceed the outstanding principal balance of the class A notes, less all amounts, other than investment earnings, on deposit in the accumulation account.In addition, on the maturity date for any class of class A notes, the principal required to be distributed to the related noteholders will include the amount required to reduce the outstanding principal balance of that class to zero.

  • Note Class Interest Distributable Amount With respect to any class of Notes and any Distribution Date, the product of (i) the outstanding principal balance of such class of Notes as of the close of the preceding Distribution Date (or, in the case of the first Distribution Date, the outstanding principal balance of such class of Notes on the Closing Date) and (ii) (a) in the case of the Notes, other than the Class A-1 Notes, one-twelfth of the Interest Rate for such class (or, in the case of the first Distribution Date, the Interest Rate for such class multiplied by a fraction, the numerator of which is 15 and the denominator of which is 360) and (b) in the case of the Class A-1 Notes, the product of the Interest Rate for such class of Notes for such Distribution Date and a fraction, the numerator of which is the number of days elapsed from and including the prior Distribution Date (or, in the case of the first Distribution Date, from and including the Closing Date), to but excluding that Distribution Date and the denominator of which is 360. Note Depository: The depository from time to time selected by the Indenture Trustee on behalf of the Issuing Entity in whose name the Notes are registered prior to the issue of Definitive Notes. The first Note Depository shall be Cede & Co., the nominee of the initial Clearing Agency.

  • Noteholders’ Monthly Interest Distributable Amount means, with respect to any Distribution Date and any Class of Notes, interest accrued at the respective Interest Rate during the applicable Interest Period on the principal amount of the Notes of such Class outstanding as of the end of the prior Distribution Date (or, in the case of the first Distribution Date, as of the Closing Date), calculated (x) for the Class A-1 Notes and the Class A-2-B Notes on the basis of a 360-day year and the actual number of days elapsed in the applicable Interest Period and (y) for all other Classes of Notes on the basis of a 360-day year consisting of twelve 30-day months (without adjustment for the actual number of business days elapsed in the applicable Interest Period), except with respect to the first Interest Period.

  • Class A Noteholders’ Interest Distribution Amount means, for any distribution date, the sum of: • the amount of interest accrued at the class A note interest rates for the related accrual period on the aggregate outstanding principal balances of all classes of class A notes on the immediately preceding distribution date, after giving effect to all principal distributions to class A noteholders on that preceding distribution date; and • the Class A Note Interest Shortfall for that distribution date.

  • Note Distribution Account means the account designated as such, established and maintained pursuant to Section 5.1(a)(ii).

  • Class A Notes means the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes and the Class A-4 Notes.

  • Class B Noteholders’ Monthly Accrued Interest means, with respect to any Payment Date, the aggregate interest accrued for the related Interest Period on the Class B Notes at the Class B Interest Rate on the Class B Note Balance on the immediately preceding Payment Date or the Closing Date, as the case may be, after giving effect to all payments of principal to the Class B Noteholders on or prior to such preceding Payment Date.

  • Class A Principal Distributable Amount means, for any Distribution Date: (A) during the Revolving Period, zero; and (B) during the Amortization Period, an amount equal to the lesser of: (i) Available Funds remaining after payment of the amounts set forth in clauses (i) through (iv) of Section 5.08(a) hereto and (ii) the Class A Note Balance; provided, however, on the Class A Stated Final Maturity Date, the Class A Principal Distributable Amount will equal the Class A Note Balance.

  • Class C Noteholders’ Monthly Accrued Interest means, with respect to any Payment Date, the aggregate interest accrued for the related Interest Period on the Class C Notes at the Class C Interest Rate on the Class C Note Balance on the immediately preceding Payment Date or the Closing Date, as the case may be, after giving effect to all payments of principal to the Class C Noteholders on or prior to such preceding Payment Date.

  • Class A Note Interest Rate means a per annum rate of [ ]% [in excess of LIBOR as determined on the LIBOR Determination Date for the applicable Interest Period].

  • Class A Note Balance means, at any time, the sum of the Class A-1 Note Balance, the Class A-2 Note Balance and the Class A-3 Note Balance at such time.

  • Note Payment Date means any date on which principal of or interest on any Note is payable.

  • Accrued Class A Note Interest means, with respect to any Payment Date, the sum of the Class A Noteholders’ Monthly Accrued Interest for such Payment Date and the Class A Noteholders’ Interest Carryover Shortfall for such Payment Date.

  • Class A Noteholders’ Distribution Amount means, for any distribution date, the sum of the Class A Noteholders’ Interest Distribution Amount and the Class A Noteholders’ Principal Distribution Amount for that distribution date.

  • Class A Note Rate means, with respect to each Interest Period, a fixed rate equal to 4.15% per annum with respect to the Class A Notes.