Common use of Deposit of Redemption Amount Clause in Contracts

Deposit of Redemption Amount. On or before 10:00 a.m. (New York City time) on the fifth day preceding any Redemption Date in respect of a Redemption under Section 3.10(a) hereof, the Issuer shall, to the extent an amount equal to the Redemption Price of Securities to be redeemed and all accrued and unpaid interest thereon (after giving effect to any payment thereof on such Redemption Date under Section 3.08 hereof) and all unpaid Policy Provider Obligations as of the Redemption Date is not then held on deposit therein, deposit or cause to be deposited in the Defeasance/Redemption Account or, in the case of a Refinancing, the Refinancing Account, other than, in either case, any funds constituting part of the Available Collections, an amount in immediately available funds equal to such amount. On or before 10:00 a.m. (New York City time) on the fifth day preceding any Redemption Date in respect of a Redemption under Section 3.10(b) hereof, the Issuer shall, to the extent an amount equal to the Outstanding Principal Balance of Securities to be redeemed and all accrued and unpaid interest (after giving effect to any payment thereof on such Redemption Date under Section 3.08 hereof) and all unpaid Policy Provider Obligations (including any Policy Premium and any Policy Redemption Premium, if any) as of the Redemption Date is not then held on deposit therein, deposit or cause to be deposited in the Defeasance/Redemption Account or, in case of a Refinancing, the Refinancing Account, other than, in either case, any funds constituting part of Available Collections, an amount in immediately available funds equal to such amount. In the event the ACS Group Subclass A-1 Securities or any other Covered Class A Securities are redeemed in full, the Policy shall be surrendered to the Policy Provider for cancellation.

Deposit of Redemption Amount. On or before 10:00 a.m. (New York City time) on the fifth day preceding any Redemption Date in respect of a Redemption under Section 3.10(a3.11(a) hereofunless such Redemption has been revoked or cancelled as provided in clause (e) below, the Issuer shall, to the extent an amount equal to the Redemption Price of Securities Class G Notes to be redeemed and all accrued and unpaid interest thereon (after giving effect to any payment thereof on such Redemption Date under Section 3.08 hereof3.09) thereon, the Required Expense Amount and all unpaid Policy Provider Obligations as of the Redemption Date is not then held on deposit therein, deposit or cause to be deposited in the Defeasance/Redemption Account or, in the case of a Refinancing, the Refinancing Account, other than, in either case, any funds constituting part of the Available Collections, an amount in immediately available funds equal to such amount. On or before 10:00 a.m. (New York City time) on the fifth day preceding any Redemption Date in respect of a Redemption under Section 3.10(b3.11(b) hereofunless such Redemption has been revoked or cancelled as provided in clause (e) below, the Issuer shall, to the extent an amount equal to the Outstanding Principal Balance of Securities Class G Notes to be redeemed and all accrued and unpaid interest (after giving effect to any payment thereof on such Redemption Date under Section 3.08 hereof3.09) thereon, the Required Expense Amount and all unpaid Policy Provider Obligations (including any Policy Premium and any Policy Redemption Premium, if any) as of the Redemption Date is not then held on deposit therein, deposit or cause to be deposited in the Defeasance/Redemption Account or, in case of a Refinancing, the Refinancing Account, other than, in either case, any funds constituting part of Available Collections, an amount in immediately available funds equal to such amount. In the event the ACS Group Subclass A-1 Securities or any other Covered Class A Securities are redeemed in full, the Policy shall be surrendered to the Policy Provider for cancellation.

Deposit of Redemption Amount. On or before 10:00 a.m. (New York City time) on the fifth day preceding any Redemption Date in respect of a Redemption under Section 3.10(a) hereof3.11(a), the Issuer shall, to the extent an amount equal to the Redemption Price of Securities Initial Notes to be redeemed and all accrued and unpaid interest thereon (after giving effect to any payment thereof on such Redemption Date under Section 3.08 hereof3.09) and thereon, all unpaid Policy Provider Obligations and Credit Facility Obligations (only in respect of any amounts drawn from the Liquidity Facility Reserve Account or Facility Drawings, as the case may be, in respect of Liquidity Facility Interest Class G Shortfalls) as of the Redemption Date is not then held on deposit therein, deposit or cause to be deposited in the Defeasance/Redemption Account or, in the case of a Refinancing, the Refinancing Account, other 77 than, in either case, any funds constituting part of the Available Collections, an amount in immediately available funds equal to such amount. On or before 10:00 a.m. (New York City time) on the fifth day preceding any Redemption Date in respect of a Redemption under Section 3.10(b) hereof3.11(b), the Issuer shall, to the extent an amount equal to the Outstanding Principal Balance of Securities Initial Notes to be redeemed and all accrued and unpaid interest (after giving effect to any payment thereof on such Redemption Date under Section 3.08 hereof3.09) and thereon, all unpaid Policy Provider Obligations (including any Policy Premium and any Policy Redemption Premium, if any) and Credit Facility Obligations (only in respect of any amounts drawn from the Liquidity Facility Reserve Account or Facility Drawings, as the case may be, in respect of Liquidity Facility Interest Class G Shortfalls) as of the Redemption Date is not then held on deposit therein, deposit or cause to be deposited in the Defeasance/Redemption Account or, in case of a Refinancing, the Refinancing Account, other than, in either case, any funds constituting part of Available Collections, an amount in immediately available funds equal to such amount. In the event the ACS Group Subclass A-1 Securities or any other Covered Class A Securities Initial Notes are redeemed in full, the Policy shall be surrendered to the Policy Provider for cancellation.

Deposit of Redemption Amount. On or before 10:00 a.m. (New York City time) on the fifth day preceding any Redemption Date in respect of a Redemption under Section 3.10(a) hereof3.11(a), the Issuer shall, to the extent an amount equal to the Redemption Price of Securities Initial Notes to be redeemed and all accrued and unpaid interest thereon (after giving effect to any payment thereof on such Redemption Date under Section 3.08 hereof3.09) and thereon, all unpaid Policy Provider Obligations as of the Redemption Date is not then held on deposit therein, deposit or cause to be deposited in the Defeasance/Redemption Account or, in the case of a Refinancing, the Refinancing Account, other than, in either case, any funds constituting part of the Available Collections, an amount in immediately available funds equal to such amount. On or before 10:00 a.m. (New York City time) on the fifth day preceding any Redemption Date in respect of a Redemption under Section 3.10(b) hereof3.11(b), the Issuer shall, to the extent an amount equal to the Outstanding Principal Balance of Securities Initial Notes to be redeemed and all accrued and unpaid interest (after giving effect to any payment thereof on such Redemption Date under Section 3.08 hereof3.09) and thereon, all unpaid Policy Provider Obligations (including any Policy Premium and any Policy Redemption Premium, if any) as of the Redemption Date is not then held on deposit therein, deposit or cause to be deposited in the Defeasance/Redemption Account or, in case of a Refinancing, the Refinancing Account, other than, in either case, any funds constituting part of Available Collections, an amount in immediately available funds equal to such amount. In the event the ACS Group Subclass A-1 Securities or any other Covered Class A Securities Initial Notes are redeemed in full, the Policy shall be surrendered to the Policy Provider for cancellation.