Principal Distribution Account means the account by that name established and maintained pursuant to Section 4.1 of the Sale and Servicing Agreement.

Principal Distribution Account means the account designated as such, established and maintained pursuant to Section 5.01(b).

Principal Distribution Account means the account designated as such, established and maintained pursuant to Section 8.2(c) of the Indenture.

Examples of Principal Distribution Account in a sentence

On or before each Payment Date and Redemption Date, the Issuer shall deposit or cause to be deposited in the Principal Distribution Account from the Collection Account an aggregate sum sufficient to pay principal then becoming due under the Notes, such sum to be held in trust for the benefit of the Persons entitled thereto and (unless the Note Paying Agent is the Trustee) shall promptly notify the Trustee of its action or failure so to act.
The Principal Distribution Account shall initially be established with the Trustee.
Funds on deposit in the Principal Distribution Account shall not be invested.
On each Payment Date, after the application of Available Funds to priorities “first” through “eleventh” in accordance with the Priority of Payments, as described in “Description of the Notes—Priority of Payments,” the remaining Available Funds will be applied at the option of the Issuer (A) to be deposited into the Principal Distribution Account or(B) for application in accordance with the Trust Agreement.
No checks shall be issued, printed or honored with respect to the Principal Distribution Account.

More Definitions of Principal Distribution Account

Principal Distribution Account means the administrative subaccount of the Collection Account established and maintained as such pursuant to Section 4.1(b) of the Sale and Servicing Agreement.

Principal Distribution Account means the account by that name established and maintained pursuant to Section 8.2(a)(ii) of the Indenture.

Principal Distribution Account means the administrative subaccount within the Collection Account established by the Indenture Trustee pursuant to Section 5.01(a)(i).

Principal Distribution Account shall have the meaning specified in Section 8.02(a)(ii) of the Indenture.

Principal Distribution Account means the account designated as such, established and maintained pursuant to Section 2.03(a)(iv) of the Administration Agreement.

Principal Distribution Account means the account designated as such, established and maintained pursuant toU Section 5.1(b)U.

Principal Distribution Account means the administrative subaccount of the Note Distribution Account established and maintained as such pursuant to Section 5.1 of the Sale and Servicing Agreement.