Principal Funding Account definition

Principal Funding Account shall have the meaning specified in subsection 4.03(a)(i).

Principal Funding Account shall have the meaning set forth in ------------------------- subsection 4.16(a) of the Agreement.

Principal Funding Account means the trust account designated as such and established pursuant to Section 5.01(a).

Examples of Principal Funding Account in a sentence

• On each Distribution Date, the Paying Agent shall distribute to each Class B Certificateholder of record on the last day of the preceding calendar month (each a “Record Date”) such Class B Certificateholder’s pro rata share of such amounts (including amounts on deposit in the Collection Account and Principal Funding Account) as are payable to the Class B Certificateholder pursuant to the Agreement and the Supplement.

• The Principal Funding Account shall initially be established with The Bank of New York Mellon.

• On each Distribution Date, the Paying Agent shall distribute to each Class A Certificateholder of record on the last day of the preceding calendar month (each a “Record Date”) such Class A Certificateholder’s pro rata share of such amounts (including amounts on deposit in the Collection Account and Principal Funding Account) as are payable to the Class A Certificateholder pursuant to the Agreement and the Supplement.

• If Priority Principal Payments are required to be made on any Payment Date prior to the beginning of the Amortization Period in accordance with the provisions of Article VIII, such amounts will be deposited into the Principal Funding Account on such Payment Date in accordance with the provisions of Article VIII, to the extent of Series 2024-3 Available Funds, in lieu of such amounts being applied to pay principal on the Notes on such Payment Date.

• Investment earnings (net of losses and investment expenses) on the Distribution Account, the Reserve Account and the Principal Funding Account will be deposited into the Series 2024-3 Series Certificate Distribution Account per the written direction of the Servicer for distribution to the Certificateholders in the priority set forth in Section 4.1(b) of the Trust Agreement.

More Definitions of Principal Funding Account

Principal Funding Account means the Eligible Deposit Account designated as such and established pursuant to Section 4.06(a).

Principal Funding Account means the account established with the Note Paying Agent for the benefit of the Noteholders under Section 8.2(a).

Principal Funding Account with account number 4282878400;

Principal Funding Account has, with respect to any Series, the meaning specified in the related Indenture Supplement.

Principal Funding Account means the Eligible Deposit Account designated as such and established pursuant to subsection 4.07(a).

Principal Funding Account with account number 274451002. The Distribution Account set forth in clause (i) above shall constitute the Distribution Account for Series 2022-2. The Reserve Account set forth in clause (ii) above shall constitute the Reserve Account for Series 2022-2. The Principal Funding Account set forth in clause (iii) above shall constitute the Principal Funding Account for Series 2022-2. Each of the Series 2022-2 Accounts (x) shall constitute a Trust Financing Account for Series 2022-2 and (y) has been (or will be) pledged by the Trust to the Indenture Trustee for the sole benefit of the Series 2022-2 Secured Parties of Series 2022-2. No Credit Extensions of any Trust Financing (other than Series 2022-2) shall be secured by any interest in any Series 2022-2 Account. On and after the Closing Date, the Note Paying Agent will maintain the Series 2022-2 Accounts established by the Servicer under this Section 8.2. If an institution maintaining the Series 2022-2 Accounts ceases to be a Qualified Institution, the Indenture Trustee will, with the Servicer’s assistance as necessary, move the Series 2022-2 Accounts to a Qualified Institution within thirty (30) days. Deposits to, and distributions from, the Distribution Account, the Reserve Account and the Principal Funding Account shall be made solely as set forth in this Agreement and, to the extent not inconsistent with this Agreement, in the other Series 2022-2 Series Related Documents.

Principal Funding Account is defined in subsection 4.16(a).