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.

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 with account number 1036068400;

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 has, for 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 241135002. The Distribution Account set forth in clause (i) above shall constitute the Distribution Account for Series 2023-5. The Reserve Account set forth in clause (ii) above shall constitute the Reserve Account for Series 2023-5. The Principal Funding Account set forth in clause (iii) above shall constitute the Principal Funding Account for Series 2023-5. Each of the Series 2023-5 Accounts (x) shall constitute a Trust Financing Account for Series 2023-5 and (y) has been (or will be) pledged by the Trust to the Indenture Trustee for the sole benefit of the Series 2023-5 Secured Parties of Series 2023-5. No Credit Extensions of any Trust Financing (other than Series 2023-5) shall be secured by any interest in any Series 2023-5 Account. On and after the Closing Date, the Note Paying Agent will maintain the Series 2023-5 Accounts established by the Servicer under this Section 8.2. If an institution maintaining the Series 2023-5 Accounts ceases to be a Qualified Institution, the Indenture Trustee will, with the Servicer’s assistance as necessary, move the Series 2023-5 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 2023-5 Series Related Documents.

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