No Set-Off. The Issuer will not, directly or indirectly, (i) make payments (by reduction of capital or otherwise) to the Owner Trustee or the holder of the Residual Interest, (ii) redeem, purchase, retire or acquire for value an ownership interest in the Issuer or (iii) set aside or segregate amounts for those purposes, except as permitted under this Indenture and the other Transaction Documents.
Appears in 58 contracts
Samples: Indenture (Ford Credit Auto Owner Trust 2024-A), Indenture (Ford Credit Auto Owner Trust 2024-A), Indenture (Ford Credit Auto Owner Trust 2023-C)
No Set-Off. The Issuer will not, directly or indirectly, (i) make payments (by reduction of capital or otherwise) to the Owner Trustee, the Delaware Trustee or the holder of the Residual Interest, (ii) redeem, purchase, retire or acquire for value an ownership interest in the Issuer or (iii) set aside or segregate amounts for those purposes, except as permitted under this Indenture and the other Transaction Documents.
Appears in 30 contracts
Samples: Indenture (Ford Credit Auto Lease Trust 2024-A), Indenture (Ford Credit Auto Lease Trust 2024-A), Indenture (Ford Credit Auto Lease Trust 2023-B)
No Set-Off. The Issuer will not, directly or indirectly, (i) make payments (by reduction of capital or otherwise) to the Owner Trustee or the holder of the Residual InterestCertificateholders, (ii) redeem, purchase, retire or acquire for value an ownership interest in the Issuer or (iii) set aside or segregate amounts for those purposes, except in any of such cases as permitted under this Indenture and the other Transaction Documents.
Appears in 23 contracts
Samples: Transfer and Servicing Agreement (Verizon Owner Trust 2020-B), Transfer and Servicing Agreement (Verizon Owner Trust 2020-C), Transfer and Servicing Agreement (Verizon Owner Trust 2020-A)