Common use of Payment of Principal and Interest; Defaulted Interest Clause in Contracts

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest Rate, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicable, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates, payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 19 contracts

Samples: Indenture (World Omni Auto Receivables Trust 2024-B), Indenture (World Omni Auto Receivables Trust 2024-B), Indenture (World Omni Auto Receivables Trust 2024-A)

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Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b A-2 Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest Rate, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicable, subject to Section 3.01. Interest on the Class A-2a A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates, payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 13 contracts

Samples: Indenture (World Omni Auto Receivables Trust 2022-C), General Servicing Considerations (World Omni Auto Receivables Trust 2022-A), General Servicing Considerations (World Omni Auto Receivables Trust 2022-A)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest A-2 Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest Rate, respectively, as set forth in Exhibit A-0, Xxxxxxx X-0, Exhibit A-0, Xxxxxxx X-0, Exhibit B and Exhibit C, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.12, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for nominee, if an account is so designated; provided, however, that the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled Payment related Stated Maturity Date for such Class (and except for including the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided in paragraph (b) below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 12 contracts

Samples: Indenture (Hyundai Auto Receivables Trust 2020-C), Indenture (Hyundai Auto Receivables Trust 2020-C), Indenture (Hyundai Auto Receivables Trust 2020-B)

Payment of Principal and Interest; Defaulted Interest. (a) The Each Class A-1 Notes, the Class A-2a Notes, the Class A-2b Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C of Notes shall accrue interest during the related each Interest Accrual Period at the Class A-1 related Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest Rate, respectively, and such interest shall be payable on each Payment Distribution Date as specified in accordance with such Notes, subject to Section 3.01 and the priorities priority of payments set forth in Section 8.02(d) and (e8.02(c). Interest accrued on any Note but not paid on any Distribution Date will be due on the immediately succeeding Distribution Date, as applicabletogether with, subject to Section 3.01the extent permitted by applicable law, interest on such shortfall at the related Interest Rate. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will shall be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on , except for the Class A-1 Notes and the Class A-2b Notes will Notes, which shall be calculated on the basis of a 360-day year and the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01Period. Any installment of interest or principal principal, if any, payable on a any Note that which is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Distribution Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date Date, by check or wire transfer mailed first-class, postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.11, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Distribution Date, a Redemption Date or on the applicable related Final Scheduled Payment Date for such Class Distribution Date, as the case may be (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) ), which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 10 contracts

Samples: Indenture (Onyx Acceptance Financial Corp), Indenture (Onyx Acceptance Financial Corp), Indenture (Onyx Acceptance Financial Corp)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C B Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C B Interest Rate, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d8.02(c), (d) and (e), as applicable, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C B Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates, payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 10 contracts

Samples: Indenture (World Omni Auto Receivables LLC), Indenture (World Omni Auto Receivables Trust 2017-B), Indenture (World Omni Auto Receivables Trust 2015-B)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C B Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b A-2 Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C B Interest Rate, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d8.02(c), (d) and (e), as applicable, subject to Section 3.01. Interest on the Class A-2a A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C B Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates, payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 10 contracts

Samples: Indenture (World Omni Auto Receivables LLC), Indenture (World Omni Auto Receivables LLC), Indenture (World Omni Auto Receivables Trust 2018-B)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C B Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b A-2 Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C B Interest Rate, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d8.02(c), (d) and (e), as applicable, subject to Section 3.01. Interest on the Class A-2a A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C B Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliatesaffiliates, payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable class Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 9 contracts

Samples: Indenture (World Omni Auto Receivables Trust 2013-A), Indenture (World Omni Auto Receivables Trust 2013-A), Indenture (World Omni Auto Receivables Trust 2012-B)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a A-2-A Notes, the Class A-2b A-2-B Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest A-2-A Rate, the Class A-2b Interest A-2-B Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest Rate, respectively, as set forth in Exhibit A-0, Xxxxxxx X-0-X, Exhibit A-2-B, Exhibit A-0, Xxxxxxx X-0, Exhibit B and Exhibit C, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.12, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for nominee, if an account is so designated; provided, however, that the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled Payment related Stated Maturity Date for such Class (and except for including the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided in paragraph (b) below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 9 contracts

Samples: Indenture (Hyundai Auto Receivables Trust 2021-C), Indenture (Hyundai Auto Receivables Trust 2021-C), Indenture (Hyundai Abs Funding LLC)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a A-2-A Notes, the Class A-2b A-2-B Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest A-2-A Rate, the Class A-2b Interest A-2-B Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest Rate, respectively, as set forth in Exhibit A-1, Exhibit A-2-A, Exhibit A-2-B, Exhibit A-3, Exhibit A-4, Exhibit B and Exhibit C, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer to such Person’s address or designated account Person as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.12, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for nominee, if an account is so designated; provided, however, that the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled Payment related Stated Maturity Date for such Class (and except for including the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided in paragraph (b) below. The funds represented by any such checks payments returned undelivered shall be held in accordance with Section 3.03.

Appears in 8 contracts

Samples: Indenture (Hyundai Auto Receivables Trust 2024-A), Indenture (Hyundai Auto Receivables Trust 2024-A), Indenture (Hyundai Auto Receivables Trust 2023-C)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes, the Class C Notes and the Class C D Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest A-2 Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate, the Class C Rate and the Class D Rate, respectively, as set forth in Exhibit A-0, Xxxxxxx X-0, Exhibit A-0, Xxxxxxx X-0, Exhibit B, Exhibit C Interest Rateand Exhibit D, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.12, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for nominee, if an account is so designated; provided, however, that the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled Payment related Stated Maturity Date for such Class (and except for including the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided in paragraph (b) below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 7 contracts

Samples: Indenture (Hyundai Auto Receivables Trust 2016-B), Indenture (Hyundai Abs Funding LLC), Indenture (Hyundai Auto Receivables Trust 2014-B)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest A-2 Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest Rate, respectively, as set forth in Exhibit X-0, Xxxxxxx X-0, Exhibit X-0, Xxxxxxx X-0, Exhibit B and Exhibit C, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.12, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for nominee, if an account is so designated; provided, however, that the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled Payment related Stated Maturity Date for such Class (and except for including the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided in paragraph (b) below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 5 contracts

Samples: Indenture (Hyundai Auto Receivables Trust 2021-B), Indenture (Hyundai Auto Receivables Trust 2021-B), Indenture (Hyundai Auto Receivables Trust 2021-A)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest A-2 Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest B Rate, respectively, as set forth in Exhibit X-0, Xxxxxxx X-0, Exhibit X-0, Xxxxxxx X-0 and Exhibit B, respectively, and such interest shall be due and payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.013.1. Any installment of interest or principal principal, if any, payable on a any Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date either by wire transfer in immediately available funds, to the account of such Noteholder at a bank or other entity having appropriate facilities therefor, if such Noteholder shall have provided to the Note Registrar appropriate written instructions at least five (5) Business Days prior to such Payment Date and such Noteholder’s Notes in the aggregate evidence a denomination of not less than $1,000,000, or, if not, by check or wire transfer mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except ; provided that, unless Definitive Notes have been issued to Note Owners pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee nominee, and except for the final installment of principal payable with respect to such Note on a Payment Date, Prepayment Date or on the applicable Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) Date, which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.033.3.

Appears in 4 contracts

Samples: Indenture (USAA Auto Owner Trust 2008-1), Indenture (USAA Auto Owner Trust 2007-1), Indenture (USAA Auto Owner Trust 2007-2)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a A-2-A Notes, the Class A-2b A-2-B Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest A-2-A Rate, the Class A-2b Interest A-2-B Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest Rate, respectively, as set forth in Exhibit A-0, Xxxxxxx X-0-X, Exhibit A-2-B, Exhibit A-0, Xxxxxxx X-0, Exhibit B and Exhibit C, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer to such Person’s address or designated account Person as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.12, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for nominee, if an account is so designated; provided, however, that the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled Payment related Stated Maturity Date for such Class (and except for including the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided in paragraph (b) below. The funds represented by any such checks payments returned undelivered shall be held in accordance with Section 3.03.

Appears in 4 contracts

Samples: Indenture (Hyundai Auto Receivables Trust 2022-C), Indenture (Hyundai Auto Receivables Trust 2022-B), Indenture (Hyundai Auto Receivables Trust 2022-B)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest B Rate, respectively, as set forth in Exhibit X-0, Xxxxxxx X-0, Exhibit A-3, Exhibit X-0, Xxxxxxx X-0 and Exhibit A-6, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer as directed by such Holder provided such Holder has provided written wiring instructions to the Indenture Trustee and otherwise by check mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.12, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for nominee; provided, however, that the final installment of principal payable with respect to such Note on a Payment Date or on the applicable related Final Scheduled Payment Date for such Class (and except for including the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided in paragraph (b) below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 4 contracts

Samples: BMW Fs Securities LLC, Indenture (BMW Fs Securities LLC), BMW Fs Securities LLC

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B A-5 Notes and the Class C B Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest A-2 Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest A-5 Rate and the Class C Interest B Rate, respectively, as set forth in Exhibit X-0, Xxxxxxx X-0, Exhibit X-0, Xxxxxxx X-0, Exhibit A-5 and Exhibit B, respectively, and such interest shall be due and payable on each Payment Distribution Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.013.1. Any installment of interest or principal principal, if any, payable on a any Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Distribution Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date either by wire transfer in immediately available funds, to the account of such Noteholder at a bank or other entity having appropriate facilities therefor, if such Noteholder shall have provided to the Note Registrar appropriate written instructions at least five (5) Business Days prior to such Distribution Date and such Noteholder's Notes in the aggregate evidence a denomination of not less than $1,000,000, or, if not, by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except ; provided that, unless Definitive Notes have been issued to Note Owners pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee nominee, and except for the final installment of principal payable with respect to such Note on a Payment Distribution Date, Redemption Date or on the applicable Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) Distribution Date, which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.033.3.

Appears in 3 contracts

Samples: Indenture (Ford Credit Auto Receivables Two L P), Indenture (Ford Credit Auto Receivables Two LLC), Indenture (Ford Credit Auto Receivables Two L P)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B A-5 Notes, the Class A-6 Notes, the Class A-7 Notes and the Class C A-8 Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b A-2 Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B A-5 Interest Rate, the Class A-6 Interest Rate, the Class A-7 Interest Rate and the Class C A-8 Interest Rate, respectively, as set forth in Exhibits A-1, X-0, X-0, X-0, X-0, X-0, X-7 and A-8, respectively, and such interest shall be payable on each Payment Distribution Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.013.1. Any installment of interest or principal principal, if any, payable on a any Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Distribution Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.12, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Distribution Date or on the applicable Final Scheduled Payment Distribution Date for such Class of Notes (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) 10.1), which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.033.3.

Appears in 3 contracts

Samples: Indenture (Firstplus Investment Corp), Firstplus Investment Corp, Firstplus Investment Corp

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a A-2[-A] Notes, [the Class A-2b A-2-B Notes, ,] the Class A-3 Notes, the Class A-4 Notes, the Class B Notes, the Class C Notes and the Class C D Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest A-2[-A] Rate, [the Class A-2b Interest A-2-B Rate, ,] the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate, the Class C Rate and the Class D Rate, respectively, as set forth in Exhibit A-1, Exhibit A-2[-A], [Exhibit A-2-B,] Exhibit A-0, Xxxxxxx X-0, Exhibit B, Exhibit C Interest Rateand Exhibit D, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.12, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for nominee, if an account is so designated; provided, however, that the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled Payment related Stated Maturity Date for such Class (and except for including the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided in paragraph (b) below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 3 contracts

Samples: Indenture (Hyundai Abs Funding LLC), Indenture (Hyundai Abs Funding LLC), Indenture (Hyundai Abs Funding Corp)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes, the Class C Notes and the Class C D Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest A-2 Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate, the Class C Rate and the Class D Rate, respectively, as set forth in Exhibit X-0, Xxxxxxx X-0, Exhibit X-0, Xxxxxxx X-0, Exhibit B, Exhibit C Interest Rateand Exhibit D, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.12, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for nominee, if an account is so designated; provided, however, that the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled Payment related Stated Maturity Date for such Class (and except for including the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided in paragraph (b) below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 3 contracts

Samples: Indenture (Hyundai Auto Receivables Trust 2015-A), Indenture (Hyundai Auto Receivables Trust 2012-A), Indenture (Hyundai Auto Receivables Trust 2011-B)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest A-2 Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest B Rate, respectively, as set forth in Exhibit A-1, Exhibit A-2, Exhibit A-3, Exhibit A-4 and such interest shall be payable Exhibit B, respectivxxx, xxx xxxx xxterest shaxx xx xxx xxx xxyable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.013.1. Any installment of interest or principal principal, if any, payable on a any Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date either by wire transfer in immediately available funds, to the account of such Noteholder at a bank or other entity having appropriate facilities therefor, if such Noteholder shall have provided to the Note Registrar appropriate written instructions at least five (5) Business Days prior to such Payment Date and such Noteholder's Notes in the aggregate evidence a denomination of not less than $1,000,000, or, if not, by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except ; provided that, unless Definitive Notes have been issued to Note Owners pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee nominee, and except for the final installment of principal payable with respect to such Note on a Payment Date, Prepayment Date or on the applicable Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) Date, which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.033.3.

Appears in 3 contracts

Samples: Indenture (USAA Auto Owner Trust 2006-4), Indenture (USAA Auto Owner Trust 2006-1), USAA Auto Owner Trust 2006-3

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C A-4 Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest A-2 Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest A-4 Rate, respectively, as set forth in Exhibit A-1, Exhibit A-2, Exhibit A-3 and such interest shall Exhibit A-4, respectively, and sucx xxxxxxxx xxxxx be due and payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.013.1. Any installment of interest or principal principal, if any, payable on a any Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date either by wire transfer in immediately available funds, to the account of such Noteholder at a bank or other entity having appropriate facilities therefor, if such Noteholder shall have provided to the Note Registrar appropriate written instructions at least five (5) Business Days prior to such Payment Date and such Noteholder's Notes in the aggregate evidence a denomination of not less than $1,000,000, or, if not, by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except ; provided that, unless Definitive Notes have been issued to Note Owners pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee nominee, and except for the final installment of principal payable with respect to such Note on a Payment Date, Prepayment Date or on the applicable Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) Date, which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.033.3.

Appears in 3 contracts

Samples: Indenture (Usaa Federal Savings Bank), Indenture (Usaa Federal Savings Bank Usaa Auto Owner Trust 2001-1), USAA Auto Owner Trust 2005-4

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class A-5 Notes, the Class A-6 Notes, the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b A-2 Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class A-5 Interest Rate, the Class A-6 Interest Rate, the Class B Interest Rate and the Class C Interest Rate, respectively, and such interest shall be due and payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicable, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Monthly Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Monthly Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered at the close of business on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.12, with respect to Notes registered at the close of business on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to shall be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee and nominee, except for the final installment of principal payable with respect to such Note on a Monthly Payment Date or on the applicable Final Scheduled Payment class Stated Maturity Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 2 contracts

Samples: Indenture (Deutsche Recreational Asset Funding Corp), Deutsche Recreational Asset Funding Corp

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b A-2 Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C B Interest Rate, respectively, as set forth in Exhibit A-1, Exhibit A-2, Exhibit A-3, Exhibit A-4 and such interest shall be payable on Exhibit B, respectivxxx, xxx xxxx xxterest shaxx xx xxxxxxx xx each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on each Class of Notes, other than the Class A-2a A-1 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated computed on the basis of the actual number of days in the related Class A-1 Interest Accrual Period and a divided by 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee nominee, and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled class final scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 2 contracts

Samples: DaimlerChrysler Auto Trust 2006-B, Daimlerchrysler Auto Trust 2005-B

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C A-4 Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest A-4 Rate, respectively, as set forth in Exhibit A-1, Exhibit A-2, Exhibit A-3, Exhibit A-4, and Exhibit A-5, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer as directed by such Holder provided such Xxxxxx has provided written wiring instructions to the Indenture Trustee and otherwise by check mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.12, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for nominee; provided, however, that the final installment of principal payable with respect to such Note on a Payment Date or on the applicable related Final Scheduled Payment Date for such Class (and except for including the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided in paragraph (b) below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 2 contracts

Samples: Indenture (BMW Vehicle Owner Trust 2023-A), Trust Agreement (BMW Vehicle Owner Trust 2023-A)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C A-4 Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b A-2 Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C A-4 Interest Rate, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicableDate, subject to Section 3.01. Interest on each Class of Notes, other than the Class A-2a A-1 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-30 day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Class A-1 Interest Accrual Period and a divided by 360-day year. The Issuing Entity Issuer will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled class final scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 2 contracts

Samples: Indenture (Chrysler Financial Co LLC Premier Auto Trust 1999-3), Premier Auto Trust 1999-1

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a A-2-A Notes, the Class A-2b A-2-B Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes, the Class C Notes and the Class C D Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest A-2-A Rate, the Class A-2b Interest A-2-B Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate, the Class C Rate and the Class D Rate, respectively, as set forth in Exhibit A-1, Exhibit A-0-X, Xxxxxxx X-0-X, Xxxxxxx X-0, Exhibit A-4, Exhibit B, Exhibit C Interest Rateand Exhibit D, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.12, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for nominee, if an account is so designated; provided, however, that the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled Payment related Stated Maturity Date for such Class (and except for including the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided in paragraph (b) below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 2 contracts

Samples: Indenture (Hyundai Abs Funding LLC), Indenture (Hyundai Auto Receivables Trust 2016-A)

Payment of Principal and Interest; Defaulted Interest. (a) The Each Class A-1 Notes, the Class A-2a Notes, the Class A-2b Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C of Notes shall accrue interest during the related each Interest Accrual Period at the Class A-1 Interest related Note Rate, the Class A-2a Interest Rate, the Class A-2b Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest Rate, respectively, and such interest shall be payable monthly on each Payment Distribution Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest accrued on any Note but not paid on any Distribution Date will be due on the Class A-2a Notesimmediately succeeding Distribution Date, together with, to the Class A-3 Notesextent permitted by applicable law, interest on such shortfall at the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day monthsrelated Note Rate. Interest on the Class A-1 Notes and the Class A-2b Notes will shall be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of Class A-2 Notes, Class A-3 Notes and the related Class of A-4 Notes outstanding will be calculated on the preceding Payment Date (after giving effect to all payments basis of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence a 360-day year consisting of Section 3.01twelve 30-day months. Any installment of interest or principal principal, if any, payable on a any Note that which is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Distribution Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date Date, by check or wire transfer mailed first-class, postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.11, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Distribution Date, a Redemption Date or on the applicable related Final Scheduled Payment Date for such Class Distribution Date, as the case may be (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) ), which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 2 contracts

Samples: Indenture (Auto Nations Receivables Corp), Auto Nations Receivables Corp

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C A-4 Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b A-2 Interest Rate, the Class A-3 Interest Rate, Rate and the Class A-4 Interest Rate, the Class B Interest Rate respectively, as set forth in Exhibit A-1, Exhibit A-2, Exhibit A-3 and the Class C Interest RateExhibit A-4, respectively, and such interest shall suxx xxxxxxxx xxxxl be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on each Class of Notes, other than the Class A-2a A-1 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated computed on the basis of the actual number of days in the related Class A-1 Interest Accrual Period and a divided by 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee nominee, and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled class final scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 2 contracts

Samples: Indenture (Daimlerchrysler Services North America LLC), Daimlerchrysler Auto Trust 2003-B

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 B Notes, the Class B C Notes and the Class C D Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b A-2 Interest Rate, the Class A-3 Interest Rate, the Class A-4 B Interest Rate, the Class B C Interest Rate and the Class C D Interest Rate, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d8.02(c) and (ed), as applicable, subject to Section 3.01. The Class E Notes will not bear an Interest Rate, and will not accrue interest during any Interest Accrual Period, and therefore, no interest will be payable with respect to such Notes. Interest on the Class A-2a A-2 Notes, the Class A-3 Notes, the Class A-4 B Notes, the Class B C Notes and the Class C D Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each applicable Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. However, if any Class A-1 Notes remain outstanding after the September 2022 Payment Date, (a)(i) any accrued and unpaid interest on the Class A-1 Notes for the Interest Accrual Period with respect to the Special Payment Date (including, without limitation, the amount of any Class A Noteholders’ Interest Distributable Amount due and payable to the Holders of the Class A-1 Notes on the Special Payment Date), and (ii) any outstanding principal of the Class A-1 Notes, will in each case be due and payable to the Holders of the Class A-1 Notes on the Special Payment Date, and (b) a special Record Date of October 13, 2022 will apply for the Class A-1 Notes and the Special Payment Date. Any such amounts described in clause (a) in the immediately preceding sentence will be payable from Available Funds for the regularly scheduled October 2022 Payment Date. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates, payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 2 contracts

Samples: Indenture (World Omni Select Auto Trust 2021-A), Indenture (World Omni Select Auto Trust 2021-A)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 B Notes, the Class B C Notes and the Class C D Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b A-2 Interest Rate, the Class A-3 Interest Rate, the Class A-4 B Interest Rate, the Class B C Interest Rate and the Class C D Interest Rate, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d8.02(c) and (ed), as applicable, subject to Section 3.01. The Class E Notes will not bear an Interest Rate, and will not accrue interest during any Interest Accrual Period, and therefore, no interest will be payable with respect to such Notes. Interest on the Class A-2a A-2 Notes, the Class A-3 Notes, the Class A-4 B Notes, the Class B C Notes and the Class C D Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each applicable Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates, payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 2 contracts

Samples: Indenture (World Omni Select Auto Trust 2020-A), Indenture (World Omni Select Auto Trust 2020-A)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 [ ] Notes, the Class A-2a [ ] Notes, the Class A-2b Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B [ ] Notes and the Class C [ ] Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest [ ] Rate, the Class A-2a Interest [ ] Rate, the Class A-2b Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest [ ] Rate and the Class C Interest [ ] Rate, respectively, as set forth in Exhibit A-1, Exhibit A-2, Exhibit A-3 and Exhibit A-4, respectively, and such interest shall xxxxxxxx xxxxx be due and payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.013.1. Any installment of interest or principal principal, if any, payable on a any Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date either by wire transfer in immediately available funds, to the account of such Noteholder at a bank or other entity having appropriate facilities therefor, if such Noteholder shall have provided to the Note Registrar appropriate written instructions at least five (5) Business Days prior to such Payment Date and such Noteholder's Notes in the aggregate evidence a denomination of not less than $1,000,000, or, if not, by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except ; provided that, unless Definitive Notes have been issued to Note Owners pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee nominee, and except for the final installment of principal payable with respect to such Note on a Payment Date, Prepayment Date or on the applicable Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) Date, which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.033.3.

Appears in 2 contracts

Samples: Usaa Acceptance LLC, Usaa Acceptance LLC

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest A-2 Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest Rate, respectively, as set forth in Exhibit A-1, Exhibit A-2, Exhibit A-3, Exhibit A-4, Exhibit B and Exhibit C, xxxxxxxxxxxx, and such interest shall be ixxxxxxx xxxxx xx payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.12, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for nominee; provided, however, that the final installment of principal payable with respect to such Note on a Payment Date or on the applicable related Final Scheduled Payment Date for such Class (and except for including the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided in paragraph (b) below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 2 contracts

Samples: Indenture (National City Auto Receivables Trust 2002-A), Indenture (Regions Auto Receivables Trust 2002-1)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b A-2 Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest Rate, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d8.02(c), (d) and (e), as applicable, subject to Section 3.01. Interest on the Class A-2a A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliatesaffiliates, payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable class Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 2 contracts

Samples: Indenture (World Omni Auto Receivables Trust 2011-A), Indenture (World Omni Auto Receivables Trust 2011-A)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest A-2 Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest Rate, respectively, as set forth in Exhibit A-0, Xxxxxxx X-0, Exhibit A-0, Xxxxxxx X-0, Exhibit B and Exhibit C, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.12, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for nominee, if an account is so designated; provided, however, that the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled Payment related Stated Maturity Date for such Class (and except for including the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided in paragraph (b) below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.. (2019-B Indenture)

Appears in 2 contracts

Samples: Indenture (Hyundai Abs Funding LLC), Indenture (Hyundai Abs Funding LLC)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b Notes, the Class A-3 Notes, the Class A-4 B Notes, the Class B C Notes and the Class C D Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest Rate, the Class A-3 Interest Rate, the Class A-4 B Interest Rate, the Class B C Interest Rate and the Class C D Interest Rate, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d8.02(c) and (ed), as applicable, subject to Section 3.01. The Class E Notes will not bear an Interest Rate, and will not accrue interest during any Interest Accrual Period, and therefore, no interest will be payable with respect to such Notes. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 B Notes, the Class B C Notes and the Class C D Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each applicable Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates, payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 2 contracts

Samples: Indenture (World Omni Auto Receivables LLC), Indenture (World Omni Auto Receivables LLC)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b A-2 Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest Rate, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d8.02(c) and (ed), as applicable, subject to Section 3.01. Interest on the Class A-2a A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates, payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 2 contracts

Samples: Indenture (World Omni Auto Receivables Trust 2019-A), Indenture (World Omni Auto Receivables Trust 2019-A)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C B Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b A-2 Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C B Interest Rate, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d8.02(c), (d) and (e), as applicable, applicable subject to Section 3.01. Interest on each Class of Notes (other than the Class A-2a A-1 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes ) will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity Issuer will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled class final scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 2 contracts

Samples: Indenture (World Omni Auto Receivables LLC), World Omni Auto Receivables LLC

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C B Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b A-2 Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C B Interest Rate, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d8.02(c), (d) and (e), as applicable, subject to Section 3.01. Interest on each Class of Notes (other than the Class A-2a A-1 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes ) will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliatesaffiliates, payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable class Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 2 contracts

Samples: Indenture (World Omni Auto Receivables Trust 2006-A), Indenture (World Omni Auto Receivables Trust 2006-B)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b Notes, the Class A-3 A-3a Notes, the Class A-3b Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest Rate, the Class A-3 Interest A-3a Rate, the Class A-3b Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest Rate, respectively, as set forth in Exhibit A-1, Exhibit A-2a, Exhibit A-2b, Exhibit A-3a, Exhibit A-3b, Exhibit X-0, Xxxxxxx X xxd Exhibit X, xxxxxxxxxxxx, xxx xxxx xxxxxxxx xxxxx be due and such interest shall be payable on each Payment Distribution Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.013.1. Any installment of interest or principal principal, if any, payable on a any Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Distribution Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date either by wire transfer in immediately available funds, to the account of such Noteholder at a bank or other entity having appropriate facilities therefor, if such Noteholder shall have provided to the Note Registrar appropriate written instructions at least five (5) Business Days prior to such Distribution Date and such Noteholder's Notes in the aggregate evidence a denomination of not less than $1,000,000, or, if not, by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except ; provided that, unless Definitive Notes have been issued to Note Owners pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee nominee, and except for the final installment of principal payable with respect to such Note on a Payment Distribution Date, Redemption Date or on the applicable Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) Distribution Date, which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.033.3.

Appears in 2 contracts

Samples: Indenture (Ford Credit Auto Receivables Two LLC), Indenture (Ford Credit Auto Receivables Two LLC)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest A-2 Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest B Rate, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities as set forth in Section 8.02(d) Exhibit A-1, Exhibit A-2, Exhibit A-3, Exhibit A-4 and (e)Exhibit B, respectivelx, xxx xxxx xxxxrest shall xx xxx xxx xxxxble on each Distribution Date as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.013.1. Any installment of interest or principal principal, if any, payable on a any Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Distribution Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date either by wire transfer in immediately available funds, to the account of such Noteholder at a bank or other entity having appropriate facilities therefor, if such Noteholder shall have provided to the Note Registrar appropriate written instructions at least five (5) Business Days prior to such Distribution Date and such Noteholder's Notes in the aggregate evidence a denomination of not less than $1,000,000, or, if not, by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except ; provided that, unless Definitive Notes have been issued to Note Owners pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee nominee, and except for the final installment of principal payable with respect to such Note on a Payment Distribution Date, Redemption Date or on the applicable Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) Distribution Date, which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.033.3.

Appears in 2 contracts

Samples: Indenture (Ford Credit Auto Receivables Two LLC), Indenture (Ford Credit Auto Receivables Two LLC)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b A-2 Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest Rate, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d8.02(c) and (ed), as applicable, subject to Section 3.01. Interest on the Class A-2a A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates, payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 2 contracts

Samples: Indenture (World Omni Auto Receivables LLC), Indenture (World Omni Auto Receivables Trust 2019-B)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest Rate, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d8.02(c), (d) and (e), as applicable, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates, payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 2 contracts

Samples: Indenture (World Omni Auto Receivables LLC), Indenture (World Omni Auto Receivables LLC)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest Rate, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d8.02(c) and (ed), as applicable, subject to Section 3.01. The Class D Notes and the Class E Notes will not bear an Interest Rate, and will not accrue interest during any Interest Accrual Period, and therefore, no interest will be payable with respect to such Notes. Interest on the Class A-2a A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each applicable Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates, payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 2 contracts

Samples: Indenture (World Omni Select Auto Trust 2023-A), Indenture (World Omni Select Auto Trust 2023-A)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a A-2 Notes, the Class A-2b A-3a Notes, the Class A-3 A-3b Notes, the Class A-4 Notes, the Class B Notes and the Class C B Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a A-2 Interest Rate, the Class A-2b A-3a Interest Rate, the Class A-3 A-3b Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C B Interest Rate, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d8.02(c), (d) and (e), as applicable, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 A-3a Notes, the Class A-4 Notes, the Class B Notes and the Class C B Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes, the Class A-2 Notes and the Class A-2b A-3b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliatesaffiliates, payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable class Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 2 contracts

Samples: Indenture (World Omni Auto Receivables Trust 2008-B), Indenture (World Omni Auto Receivables Trust 2008-A)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B A-5 Notes, the Class A-6 Notes, the Class A-7 Notes, the Class A-8 Notes, the Class A-9 Notes and the Class C A-10 Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b A-2 Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B A-5 Interest Rate, the Class A-6 Interest Rate, the Class A-7 Interest Rate, the Class A-8 Interest Rate, the Class A-9 Interest Rate and the Class C A-10 Interest Rate, respectively, and such interest shall be due and payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicable, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Monthly Payment Date (after giving effect to all payments or in the case of principal made the Class A-9 Notes on the preceding each Quarterly Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Monthly Payment Date (or, in the case of the Class A-9 Notes, on each Quarterly Payment Date) shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.12, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to shall be Cede & Co.) or WOAR or any of its Affiliates), payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and nominee, except for the final installment of principal payable with respect to such Note on a Monthly Payment Date (or, in the case of the Class A-9 Notes, on each Quarterly Payment Date) or on the applicable Final Scheduled Payment class Stated Maturity Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 2 contracts

Samples: Indenture (Deutsche Recreational Asset Funding Corp), Deutsche Recreational Asset Funding Corp

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C A-4 Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest A-2 Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest A-4 Rate, respectively, as set forth in Exhibit A-1, Exhibit A-2, Exhibit A-3 and such interest shall Exhibit A-4, respectively, and suxx xxxxxxxx xxxxl be due and payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.013.1. Any installment of interest or principal principal, if any, payable on a any Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date either by wire transfer in immediately available funds, to the account of such Noteholder at a bank or other entity having appropriate facilities therefor, if such Noteholder shall have provided to the Note Registrar appropriate written instructions at least five (5) Business Days prior to such Payment Date and such Noteholder's Notes in the aggregate evidence a denomination of not less than $1,000,000, or, if not, by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except ; provided that, unless Definitive Notes have been issued to Note Owners pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee nominee, and except for the final installment of principal payable with respect to such Note on a Payment Date, Prepayment Date or on the applicable Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) Date, which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.033.3.

Appears in 2 contracts

Samples: Indenture (Usaa Auto Owner Trust 2005-3), Indenture (Usaa Auto Owner Trust 2005-2)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C B Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b A-2 Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C B Interest Rate, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d8.02(c), (d) and (e), as applicable, subject to Section 3.01. Interest on the Class A-2a A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C B Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates, payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable class Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 2 contracts

Samples: Indenture (World Omni Auto Receivables Trust 2014-A), Indenture (World Omni Auto Receivables Trust 2014-A)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest Rate, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicable, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates, payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 2 contracts

Samples: Indenture (World Omni Auto Receivables Trust 2019-C), Indenture (World Omni Auto Receivables Trust 2019-C)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes, the Class C Notes and the Class C D Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest A-2 Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate, the Class C Rate and the Class D Rate, respectively, as set forth in Exhibit A-1, Exhibit A-2, Exhibit A-3, Exhibit A-4, Exhibit B, Exhibit C Interest Rateand Exhibit D, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.12, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for nominee, if an account is so designated; provided, however, that the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled Payment related Stated Maturity Date for such Class (and except for including the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided in paragraph (b) below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 2 contracts

Samples: Indenture (Hyundai Auto Receivables Trust 2013-C), Indenture (Hyundai Abs Funding Corp)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C B Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b A-2 Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C B Interest Rate, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d8.02(c), (d) and (e), as applicable, subject to Section 3.01. Interest on the [Class A-2a A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes B Notes] will be calculated on the basis of [a 360-day year consisting of twelve 30-day months]. Interest on the [Class A-1 Notes and the Class A-2b Notes Notes] will be calculated on the basis of [the actual number of days in the related Interest Accrual Period and a 360-day year]. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliatesaffiliates, payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable class Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 1 contract

Samples: Indenture (World Omni Auto Receivables LLC)

Payment of Principal and Interest; Defaulted Interest. (aiv) The Class A-1 principal of and the interest on the Notes, as well as any premium thereon in case of redemption thereof pursuant to Section 3.1 hereof prior to maturity, shall be payable in Dollars, at the Class A-2a Notesoffice or agency of the Company maintained for that purpose in the Borough of Manhattan, The City and State of New York (which, unless changed, shall be the Class A-2b Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Corporate Trust Office). The Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Note Rate, the Class A-2a Interest Rate, the Class A-2b Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest Rate, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicableDate, subject to Section 3.0114.7. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will shall be calculated computed on the basis of a 360-day year consisting composed of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated months and, for any period shorter than a full calendar month, on the basis of the actual number of days elapsed in such period. Interest payments will be made in an amount equal to the related Interest Accrual Period interest accrued from and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at including the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the immediately preceding Payment Date in respect of which interest has been paid or duly made available for payment (after giving effect or from and including the date of issue, if no interest has been paid or duly made available for payment) to all payments of principal made on but excluding the preceding applicable Payment Date)Date or the Stated Maturity, subject to certain limitations contained in as the last sentence of Section 3.01case may be. Any installment of interest or principal principal, if any, payable on a any Note that which is punctually paid or duly provided for by the Issuing Entity Company on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class, postage prepaid, to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that. However, unless Definitive certificated Notes have been issued pursuant to Section 2.13issued, with respect to Notes registered on the Record Date in the name of the Depositary or the nominee of the Clearing Agency Depositary (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will be made by wire transfer in immediately available funds to the account designated by the Depositary or such person nominee. At the Company’s option, payments on Notes, if such Notes are issued in certificated form, may also be made (i) by checks mailed by the Trustee to the holders entitled thereto at their registered addresses or nominee and except for (ii) to a holder of $1,000,000 or more in aggregate principal amount of the Notes who has delivered a written request to the Trustee at least 14 days prior to the relevant Payment Date electing to have payments made by wire transfer to a designated account in the United States of America, by wire transfer of immediately available funds to such designated account. Notwithstanding the above, the final installment of principal payable with respect to such any certificated Note on a Payment Date or on the applicable Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided in clause (b)(ii) below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.0311.6.

Appears in 1 contract

Samples: Indenture (Southwestern Energy Co)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b A-2 Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C B Interest Rate, respectively, as set forth in Exhibit A-1, Exhibit A-2, Exhibit A-3, Exhibit A-4 and such interest shall be payable on Exhibit A-5, respectixxxx, xxx xxxx xnterest shxxx xx xxxxxxx xn each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except thatthat (i), unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliatesand (ii) with respect to Class A-1 Notes, payment will be made by wire transfer in immediately available funds to the account designated by such person nominee or nominee the respective Holder of the Class A-1 Notes, as applicable, and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled class final scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 1 contract

Samples: Chrysler Financial Co LLC

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b Notes, the Class A-3 A-3a Notes, the Class A-3b Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest Rate, the Class A-3 A-3a Interest Rate, the Class A-3b Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest Rate, respectively, as set forth in Exhibit A-0, Xxxxxxx X-0x, Exhibit A-0x, Xxxxxxx X-0x, Xxxxxxx X-0x, Xxxxxxx A-4, Exhibit B and Exhibit C, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on each Class of Notes, other than the Class A-2a A-1 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B A-2b Notes and the Class C Notes A-3b Notes, will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated computed on the basis of the actual number of days in the related Class A-1 Interest Accrual Period and a divided by 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount Class A-2b Notes and the Class A-3b Notes will be computed on the basis of the related Class actual number of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained days in the last sentence of Section 3.01Floating Rate Interest Accrual Period divided by 360. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee nominee, and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled class final scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 1 contract

Samples: Indenture (DaimlerChrysler Auto Trust 2007-A)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C A-4 Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b A-2 Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C A-4 Interest Rate, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicableDate, subject to Section 3.01; provided that interest on the Class A-1 Notes shall also be payable on the Class A-1 Special Payment Date if the Class A-1 Notes have not been paid in full prior to such date. Interest on each Class of Notes, other than the Class A-2a A-1 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-30 day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Class A-1 Interest Accrual Period and a divided by 360-day year. The Issuing Entity Issuer will pay interest on each Class of Notes at the related Interest Rate on each Payment Date (and, in the case of the Class A-1 Notes, on the Class A-1 Special Payment Date if the Class A-1 Notes have not been paid in full prior to such date) on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date (or, if applicable, the Class A-1 Special Payment Date in the case of the Class A-1 Notes) shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled class final scheduled Payment Date for such or Class A-1 Special Payment Date (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 1 contract

Samples: Indenture (Premier Auto Trust 1999-2)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest A-2 Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest B Rate, respectively, as set forth in Exhibit X-0, Xxxxxxx X-0, Exhibit X-0, Xxxxxxx X-0, and Exhibit B, respectively, and such interest shall be payable on each Payment Distribution Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Distribution Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.12, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for nominee; provided, however, that the final installment of principal payable with respect to such Note on a Payment Distribution Date or on the applicable related Final Scheduled Payment Distribution Date for such Class (and except for including the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided in paragraph (b) below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 1 contract

Samples: SSB Vehicle Sec Huntington Auto Trust 2000-A

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b Notes, the Class A-3 A-3a Notes, the Class A-4 Notes, the Class B A-3b Notes and the Class C A-4 Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest Rate, the Class A-3 Interest A-3a Rate, the Class A-4 Interest Rate, the Class B Interest A-3b Rate and the Class C Interest A-4 Rate, respectively, as set forth in Exhibit X-0, Xxxxxxx X-0x, Exhibit X-0x, Xxxxxxx X-0x, Xxxxxxx X-0x and Exhibit A-4, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.12, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for nominee, if an account is so designated; provided, however, that the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled Payment related Stated Maturity Date for such Class (and except for including the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided in paragraph (b) below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 1 contract

Samples: Indenture (Hyundai Abs Funding Corp)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a A-2 Notes, the Class A-2b Notes, the Class A-3 3 Notes, the Class A-4 Notes, the Class A-5 Notes, the Class B Notes, the Class C Notes, the Class D Notes and the Class C E Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b A-2 Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class A-5 Interest Rate, the Class B Interest Rate, the Class C Interest Rate, the Class D Interest Rate and the Class C E Interest Rate, respectively, and such interest shall shall, if any, be due and payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicable, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal principal, if any, due and payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor predecessor Notes) is registered at the close of business on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.12, with respect to Notes registered at the close of business on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to shall be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee and nominee, except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled Payment class Stated Maturity Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.0110.1) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.033.3.

Appears in 1 contract

Samples: Indenture (Deutsche Recreational Asset Funding Corp)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C B Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b A-2 Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C B Interest Rate, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d8.02(c), (d) and (e), as applicable, subject to Section 3.01. Interest on each Class of Notes (other than the Class A-2a A-1 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes ) will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity Issuer will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliatesaffiliates, payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled class final scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 1 contract

Samples: World Omni Auto Receivables Trust 2005-A

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes, the Class C Notes and the Class C D Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest A-2 Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate, the Class C Rate and the Class D Rate, respectively, as set forth in Exhibit A-0, Xxxxxxx X-0, Exhibit A-0, Xxxxxxx X-0, Exhibit B, Exhibit C Interest Rateand Exhibit D, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.12, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for nominee; provided, however, that the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled Payment related Stated Maturity Date for such Class (and except for including the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided in paragraph (b) below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 1 contract

Samples: Hyundai Abs Funding Corp

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest A-2 Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest Rate, respectively, as set forth in Exhibit X-0, Xxxxxxx X-0, Exhibit X-0, Xxxxxxx X-0, Exhibit B and Exhibit C, respectively, and such interest shall be due and payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.013.1. Any installment of interest or principal principal, if any, payable on a any Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date either by wire transfer in immediately available funds, to the account of such Noteholder at a bank or other entity having appropriate facilities therefor, if such Noteholder shall have provided to the Note Registrar appropriate written instructions at least five (5) Business Days prior to such Payment Date and such Noteholder's Notes in the aggregate evidence a denomination of not less than $1,000,000, or, if not, by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date; provided, except that, unless Definitive Notes have been issued to Note Owners pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee nominee, and except for the final installment of principal payable with respect to such Note on a Payment Date, the Redemption Date or on the applicable Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) Date, which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.033.3.

Appears in 1 contract

Samples: Indenture (Ford Credit Auto Owner Trust 2005-A)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C B Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b A-2 Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C B Interest Rate, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d8.02(c), (d) and (e), as applicable, subject to Section 3.01. Interest on each Class of Notes (other than the Class A-2a A-1 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes ) will be calculated on the basis of [a 360-day year consisting of twelve 30-day months]. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of [the actual number of days in the related Interest Accrual Period and a 360-day year]. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliatesaffiliates, payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable class Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 1 contract

Samples: World Omni Auto Receivables LLC

Payment of Principal and Interest; Defaulted Interest. (a) The Notes of each Class A-1 Notes, the Class A-2a Notes, the Class A-2b Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest Rateapplicable thereto, respectivelyas set forth in Exhibit A, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest With respect to each outstanding Class of LIBOR Securities, if any, the Indenture Trustee shall determine LIBOR for each applicable Accrual Period (other than the initial Accrual Period) on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day monthssecond London Business Day prior thereto. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay All interest payments on each Class of Notes at shall be made pro rata to the related Interest Rate on each Payment Date on the principal amount Noteholders of the related such Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01entitled thereto. Any installment of interest or principal payable on a any Note that is punctually shall be paid or duly provided for by the Issuing Entity on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date (or, in the case of payment of Deferred Amounts, to the Person in whose name such Note was most recently registered, if such Note has previously been surrendered to the Indenture Trustee for final payment) by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.12, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and nominee, except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled Payment Maturity Date for such Class (and except for the Redemption Termination Price for any Note called for redemption pursuant to Section 10.01) ), which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03. (b) The principal of each Note shall be payable in installments on each Payment Date as provided in the forms of the Notes set forth in Exhibit A. Notwithstanding the foregoing, the entire unpaid principal amount of the Notes together with the amount of any Deferred Amounts in respect thereof of a Class of Notes shall be due and payable, if not previously paid, on the earlier of (i) the Maturity Date, (ii) the Termination Date or (iii) the date on which an Event of Default shall have occurred and be continuing, if the Indenture Trustee or the Majority Highest Priority Class Noteholders have declared the Notes to be immediately due and payable in the manner provided in Section 5.02. All principal payments on each Class of Notes shall be made pro rata to the Noteholders of such Class entitled thereto. The Indenture Trustee shall notify the Person in whose name a Note is registered at the close of business on the Record Date preceding the Payment Date on which the Issuer expects that the final installment of principal of and interest on such Note will be paid. Such notice shall be mailed or transmitted by facsimile prior to such final Payment Date and shall specify that such final installment will be payable only upon presentation and surrender of such Note and shall specify the place where such Note may be presented and surrendered for payment of such installment. Notices in connection with an early termination of the Notes as provided in Section 10.01 shall be mailed to Noteholders as provided in Section 10.02.

Appears in 1 contract

Samples: Execution (Firstplus Investment Corp)

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Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C A-4 Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest A-2 Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest A-4 Rate, respectively, as set forth in Exhibit A-1, Exhibit A-2, Exhibit A-3 and such interest Exhibit A-4, respectively, xxx xxxx xxxxxxxt shall be due and payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.013.1. Any installment of interest or principal principal, if any, payable on a any Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date either by wire transfer in immediately available funds, to the account of such Noteholder at a bank or other entity having appropriate facilities therefor, if such Noteholder shall have provided to the Note Registrar appropriate written instructions at least five (5) Business Days prior to such Payment Date and such Noteholder's Notes in the aggregate evidence a denomination of not less than $1,000,000, or, if not, by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except ; provided that, unless Definitive Notes have been issued to Note Owners pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee nominee, and except for the final installment of principal payable with respect to such Note on a Payment Date, Prepayment Date or on the applicable Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) Date, which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.033.3.

Appears in 1 contract

Samples: Usaa Auto Owner Trust 2005-1

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes, the Class C Notes and the Class C D Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest A-2 Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate, the Class C Rate, the Class D Rate and the Class C Interest E Rate, respectively, and as set forth in Exhibit A-1, Exhibit A-2, Exhibit A-3, Exhibit A-4, Exhibit B, Exhibit C, Exxxxxx X xxx Xxxibit E, rexxxxxxxxxx, xxx such interest shall be payable on each Payment Distribution Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Distribution Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.12, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for at least ten Business Days prior to such Distribution Date; provided, however, that the final installment of principal payable with respect to such Note on a Payment Distribution Date or on the applicable related Final Scheduled Payment Distribution Date for such Class (and except for including the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided in paragraph (b) below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 1 contract

Samples: Indenture (Morgan Stanley Auto Loan Trust 2004-Hb2)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C A-4 Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest A-2 Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest A-4 Rate, respectively, as set forth in Exhibit A-1, Exhibit A-2, Exhibit A-3 and such interest shall Exhibit A-4, respectively, and sucx xxxxxxxx xxxxx be due and payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.013.1. Any installment of interest or principal principal, if any, payable on a any Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date either by wire transfer in immediately available funds, to the account of such Noteholder at a bank or other entity having appropriate facilities therefor, if such Noteholder shall have provided to the Note Registrar appropriate written instructions at least five (5) Business Days prior to such Payment Date and such Noteholder's Notes in the aggregate evidence a denomination of not less than $1,000,000, or, if not, by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except ; provided that, unless Definitive Notes have been issued to Note Owners pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee nominee, and except for the final installment of principal payable with respect to such Note on a Payment Date, Prepayment Date or on the applicable Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) Date, which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.as

Appears in 1 contract

Samples: Usaa Auto Owner Trust 2003-1

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest A-2 Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest Rate, respectively, as set forth in Exhibit A-1, Exhibit A-2, Exhibit A-3, Exhibit A-4, Exhibit B and Exhibit C, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.12, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for nominee, if an account is so designated; provided, however, that the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled Payment related Stated Maturity Date for such Class (and except for including the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided in paragraph (b) below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 1 contract

Samples: Indenture (Hyundai Auto Receivables Trust 2013-A)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B A-5 Notes, the Class A-6 Notes, the Class A-7 Notes and the Class C A-8 Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b A-2 Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B A-5 Interest Rate, the Class A-6 Interest Rate, the Class A-7 Interest Rate and the Class C A-8 Interest Rate, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities as set forth in Section 8.02(d) Exhibits A-1, A-2, A-3, A-4, A-5, A-6, A-7 and (e)A-8, respectively, anx xxxx xxxxxxxx xxxxx xx xxxable on each Distribution Date as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.013.1. Any installment of interest or principal principal, if any, payable on a any Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Distribution Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.12, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Distribution Date or on the applicable Final Scheduled Payment Distribution Date for such Class of Notes (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) 10.1), which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.033.3.

Appears in 1 contract

Samples: Preferred Securitization Corp

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest A-2 Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest B Rate, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities as set forth in Section 8.02(d) Exhibit A-1, Exhibit A-2, Exhibit A-3, Exhibit A-4 and (e)Exhibit B, respectivxxx, xxx xxxx xxterest shaxx xx xxxxxxx xx each Distribution Date as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Distribution Date shall be paid to the Person in whose name appears as the Registered Holder of such Note (or one or more Predecessor Notes) is registered in the Note Register as of the close of business on the related Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record DateDate without requiring that the Note be submitted for notation of payment, except that, unless Definitive Notes have been issued pursuant to Section 2.132.12, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for nominee; provided, however, that the final installment of principal payable with respect to such Note on a Payment Distribution Date or on the applicable related Final Scheduled Payment Distribution Date for such Class (and except for including the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided in paragraph (b) below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 1 contract

Samples: Indenture (Fifth Third Auto Trust 2004-A)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C A-4 Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest A-2 Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest A-4 Rate, respectively, as set forth in Exhibit A-1, Exhibit A-2, Exhibit A-3 and such interest shall Exhibit A-4, respectively, and xxxx xxxxxxxx xhall be due and payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.013.1. Any installment of interest or principal principal, if any, payable on a any Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date either by wire transfer in immediately available funds, to the account of such Noteholder at a bank or other entity having appropriate facilities therefor, if such Noteholder shall have provided to the Note Registrar appropriate written instructions at least five (5) Business Days prior to such Payment Date and such Noteholder's Notes in the aggregate evidence a denomination of not less than $1,000,000, or, if not, by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except ; provided that, unless Definitive Notes have been issued to Note Owners pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee nominee, and except for the final installment of principal payable with respect to such Note on a Payment Date, Prepayment Date or on the applicable Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) Date, which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.033.3.

Appears in 1 contract

Samples: Indenture (Usaa Acceptance LLC Auto Owner Trust 2002-1)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C B Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b A-2 Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C B Interest Rate, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d8.02(c), (d) and (e), as applicable, subject to Section 3.01. [Interest on the Class A-2a A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C B Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months]. [Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year]. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliatesaffiliates, payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable class Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 1 contract

Samples: Indenture (World Omni Auto Receivables LLC)

Payment of Principal and Interest; Defaulted Interest. (a) The unpaid principal of the Notes of each Class A-1 Notes, the Class A-2a Notes, the Class A-2b Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes shall accrue interest during as provided herein, which (except to the related extent of any Relief Act Interest Accrual Period at the Class A-1 Shortfalls and/or Prepayment Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest Rate, respectively, and such interest Shortfalls which shall be due and payable only to the extent funds are available therefor as provided herein) shall be due and payable on each Payment Distribution Date in accordance with prior to the priorities set forth Final Maturity Date thereof and (without regard to the availability of funds for the payment of Relief Act Interest Shortfalls and/or Prepayment Interest Shortfalls) on such Final Maturity Date. The unpaid principal of the Notes of each Class shall be due and payable (to the extent of funds available therefor as provided herein) on each Distribution Date as provided in Section 8.02(d) 8.3 and (e), as applicable, subject to Section 3.01. Interest regardless of the availability of sufficient funds therefor) on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Final Maturity Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01for such Class. Any installment of interest or principal principal, if any, payable on a any Note that which is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Distribution Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date Date, by check or wire transfer mailed first-class, postage prepaid, to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.11, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency Depository (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Distribution Date or on the applicable Final Scheduled Payment Distribution Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.0110.1(a)) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.033.3.

Appears in 1 contract

Samples: Indenture (Prudential Securities Secured Financing Corp)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C A-4 Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest A-2 Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest A-4 Rate, respectively, as set forth in Exhibit X-0, Xxxxxxx X-0, Exhibit A-3 and Exhibit A-4, respectively, and such interest shall be due and payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.013.1. Any installment of interest or principal principal, if any, payable on a any Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date either by wire transfer in immediately available funds, to the account of such Noteholder at a bank or other entity having appropriate facilities therefor, if such Noteholder shall have provided to the Note Registrar appropriate written instructions at least five (5) Business Days prior to such Payment Date and such Noteholder's Notes in the aggregate evidence a denomination of not less than $1,000,000, or, if not, by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except ; provided that, unless Definitive Notes have been issued to Note Owners pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee nominee, and except for the final installment of principal payable with respect to such Note on a Payment Date, Prepayment Date or on the applicable Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) Date, which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.033.3.

Appears in 1 contract

Samples: Indenture (Usaa Federal Savings Bank)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest Rate, the Class A-3 Interest A- 3 Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest Rate, respectively, as set forth in Exhibit A-1, Exhibit A-2a, Exhibit A-2b, Exhibit A-3, Exhibit A-4, Exhibit B and such interest Exhibit C, xxxxxxxxxxxx, xxx xxxx xxxxxxst shall be due and payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.013.1. Any installment of interest or principal principal, if any, payable on a any Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date either by wire transfer in immediately available funds, to the account of such Noteholder at a bank or other entity having appropriate facilities therefor, if such Noteholder shall have provided to the Note Registrar appropriate written instructions at least five (5) Business Days prior to such Payment Date and such Noteholder's Notes in the aggregate evidence a denomination of not less than $1,000,000, or, if not, by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except ; provided that, unless Definitive Notes have been issued to Note Owners pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee nominee, and except for the final installment of principal payable with respect to such Note on a Payment Date, the Redemption Date or on the applicable Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) Date, which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.033.3.

Appears in 1 contract

Samples: Note Depository Agreement (Ford Credit Auto Receivables Two LLC)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes, the Class C Notes and the Class C D Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest A-2 Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate, the Class C Rate and the Class C Interest D Rate, respectively, as set forth in Exhibit A-1, Exhibit A-2, Exhibit A-3, Exxxxxx X-0, Xxxxxit B, Exhixxx X xxx Xxxxxxt D, respectively, and such interest shall be payable on each Payment Distribution Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Distribution Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.12, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for at least ten Business Days prior to such Distribution Date; provided, however, that the final installment of principal payable with respect to such Note on a Payment Distribution Date or on the applicable related Final Scheduled Payment Distribution Date for such Class (and except for including the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided in paragraph (b) below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 1 contract

Samples: Purchase and Servicing Agreement (Morgan Stanley Auto Loan Trust 2004-Hb1)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C B Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b A-2 Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C B Interest Rate, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d8.02(c), (d) and (e), as applicable, subject to Section 3.01. Interest on each Class of Notes (other than the Class A-2a Notes, the Class A-3 Notes, A-1 Notes and the Class A-4 Notes, the Class B Notes and the Class C Notes ) will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b A-4 Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity Issuer will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliatesaffiliates, payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable class Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 1 contract

Samples: World Omni Auto Receivables Trust 2005-B

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a A-2-A Notes, the Class A-2b A-2-B Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes, the Class C Notes and the Class C D Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest A-2-A Rate, the Class A-2b Interest A-2-B Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate, the Class C Rate and the Class D Rate, respectively, as set forth in Exhibit A-1, Exhibit A-2-A, Xxxxxxx X-0-X, Xxxxxxx X-0, Xxxibit A-4, Exhibit B, Exhibit C Interest Rateand Exhibit D, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.12, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for nominee, if an account is so designated; provided, however, that the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled Payment related Stated Maturity Date for such Class (and except for including the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided in paragraph (b) below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 1 contract

Samples: Indenture (Hyundai Auto Receivables Trust 2015-C)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 B Notes, the Class B C Notes and the Class C D Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b A-2 Interest Rate, the Class A-3 Interest Rate, the Class A-4 B Interest Rate, the Class B C Interest Rate and the Class C D Interest Rate, respectively, as set forth in Exhibit X-0, Xxxxxxx X-0, Exhibit A-3, Exhibit B, Exhibit C and Exhibit D respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on each Class of Senior Notes, other than the Class A-2a A-1 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated computed on the basis of the actual number of days in the related Class A-1 Interest Accrual Period and a divided by 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note Senior Note, or any Class E Payment Amount payable on the Class E Notes, that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee nominee, and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled class final scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 1 contract

Samples: Indenture (Chrysler Financial Auto Securitization Trust 2010-A)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes, the Class C Notes and the Class C D Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest A-2 Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate, the Class C Rate and the Class C Interest D Rate, respectively, and such interest as set forth in Exhibit A-1, Exhibit A-2, Exhibit A-3, Exhibit A-4, Exhibit B, Exhibit C axx Xxxxxxx X, xxspectively, xxx xxxx xxxxxest shall be payable on each Payment Distribution Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Distribution Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.12, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for at least ten (10) Business Days prior to such Distribution Date; provided, however, that the final installment of principal payable with respect to such Note on a Payment Distribution Date or on the applicable related Final Scheduled Payment Distribution Date for such Class (and except for including the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided in paragraph (b) below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 1 contract

Samples: Goldman Sachs Asset Backed Securities Corp

Payment of Principal and Interest; Defaulted Interest. (a) The Each Class A-1 Notes, the Class A-2a Notes, the Class A-2b Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C of Notes shall accrue interest during the related each Interest Accrual Period at the Class A-1 related Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest Rate, respectively, and such interest shall be due and payable on each Payment Distribution Date as specified in accordance with such Notes, subject to Section 3.01 and the priorities priority of payments set forth in Section 8.02(d) and (e8.02(c). Interest accrued on any Note but not paid on any Distribution Date will be due on the immediately succeeding Distribution Date, as applicabletogether with, subject to Section 3.01the extent permitted by applicable law, interest on such shortfall at the related Interest Rate. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will shall be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on , except for the Class A-1 Notes and the Class A-2b Notes will Notes, which shall be calculated on the basis of a 360-day year and the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01Period. Any installment of interest or principal principal, if any, payable on a any Note that which is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Distribution Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date Date, by check or wire transfer mailed first-class, postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.11, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Distribution Date, a Redemption Date or on the applicable related Final Scheduled Payment Date for such Class Distribution Date, as the case may be (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) ), which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 1 contract

Samples: Onyx Acceptance Owner Trust 2005-A

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C A-4 Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest A-2 Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest A-4 Rate, respectively, as set forth in Exhibit A-1, Exhibit A-2, Exhibit A-3 and such interest shall Exhibit A-4, respectively, and suxx xxxxxxxx xxxxl be due and payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.013.1. Any installment of interest or principal principal, if any, payable on a any Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date either by wire transfer in immediately available funds, to the account of such Noteholder at a bank or other entity having appropriate facilities therefor, if such Noteholder shall have provided to the Note Registrar appropriate written instructions at least five (5) Business Days prior to such Payment Date and such Noteholder's Notes in the aggregate evidence a denomination of not less than $1,000,000, or, if not, by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except ; provided that, unless Definitive Notes have been issued to Note Owners pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee nominee, and except for the final installment of principal payable with respect to such Note on a Payment Date, Prepayment Date or on the applicable Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) Date, which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.as

Appears in 1 contract

Samples: Indenture (Usaa Auto Owner Trust 2004-2)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b A-2 Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C B Interest Rate, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities as set forth in Section 8.02(d) Exhibit A-1, Exhibit A-2, Exhibit A-3, Exhibit A-4 and (e)Exhibit B, respectivelx, xxx xxxx xxxxrest shall xx xxxxxxx xx xach Payment Date as applicablespecified therein, subject to Section 3.01. Interest on each Class of Notes, other than the Class A-2a A-1 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated computed on the basis of the actual number of days in the related Class A-1 Interest Accrual Period and a divided by 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee nominee, and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled class final scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 1 contract

Samples: Indenture (DaimlerChrysler Auto Trust 2006-C)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C A-4 Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b A-2 Interest Rate, the Class A-3 Interest Rate, Rate and the Class A-4 Interest Rate, the Class B Interest Rate respectively, as set forth in Exhibit A-1, Exhibit A-2, Exhibit A-3 and the Class C Interest RateExhibit A-4, respectively, and such interest shall xxxxxxxx xxxxx be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on each Class of Notes, other than the Class A-2a A-1 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated computed on the basis of the actual number of days in the related Class A-1 Interest Accrual Period and a divided by 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee nominee, and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled class final scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 1 contract

Samples: Daimlerchrysler Services North America LLC

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes, the Class C Notes and the Class C D Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest A-2 Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate, the Class C Rate and the Class C Interest D Rate, respectively, as set forth in Exhibit A-1, Exhibit A-2, Exhibit A-3, Exhibit A-4, Exhibit B, Exhibit C and such interest Xxxxxxx X, xxxxxctively, axx xxxx xxxxxxxx shall be due and payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.013.1. Any installment of interest or principal principal, if any, payable on a any Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date either by wire transfer in immediately available funds, to the account of such Noteholder at a bank or other entity having appropriate facilities therefor, if such Noteholder shall have provided to the Note Registrar appropriate written instructions at least five (5) Business Days prior to such Payment Date and such Noteholder's Notes in the aggregate evidence a denomination of not less than $1,000,000, or, if not, by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date; provided, except that, unless Definitive Notes have been issued to Note Owners pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee nominee, and except for the final installment of principal payable with respect to such Note on a Payment Date, the Redemption Date or on the applicable Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) Date, which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.033.3.

Appears in 1 contract

Samples: Indenture (Ford Credit Auto Owner Trust 2005-C)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C A-4 Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b A-2 Interest Rate, the Class A-3 Interest Rate, Rate and the Class A-4 Interest Rate, the Class B Interest Rate respectively, as set forth in Exhibits X-0, X-0, X-0 and the Class C Interest RateA-4, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on each Class of Notes, other than the Class A-2a A-1 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled class final scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below, provided that Class A-1 Notes registered in the name of Chrysler Financial Company L.L.C. shall be payable in the manner designated by it. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 1 contract

Samples: Chrysler Financial Co LLC

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 [ ] Notes, the Class A-2a [ ] Notes, the Class A-2b Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B [ ] Notes and the Class C [ ] Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest [ ] Rate, the Class A-2a Interest [ ] Rate, the Class A-2b Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest [ ] Rate and the Class C Interest [ ] Rate, respectively, as set forth in Exhibit A-1, Exhibit A-2, Exhibit A-3 and such interest shall Exhibit A-4, respectively, and suxx xxxxxxxx xxxxl be due and payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.013.1. Any installment of interest or principal principal, if any, payable on a any Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date either by wire transfer in immediately available funds, to the account of such Noteholder at a bank or other entity having appropriate facilities therefor, if such Noteholder shall have provided to the Note Registrar appropriate written instructions at least five (5) Business Days prior to such Payment Date and such Noteholder's Notes in the aggregate evidence a denomination of not less than $1,000,000, or, if not, by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except ; provided that, unless Definitive Notes have been issued to Note Owners pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee nominee, and except for the final installment of principal payable with respect to such Note on a Payment Date, Prepayment Date or on the applicable Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) Date, which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.033.3.

Appears in 1 contract

Samples: Usaa Acceptance LLC

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b A-2 Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest Rate, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes 3.1 and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day yearSection 8.2. The Issuing Entity will pay interest on each Class of D Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01shall not bear interest. Any installment of interest or principal principal, if any, payable on a any Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except ; provided that, unless Definitive Notes have been issued to Note Owners pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee at least ten Business Days prior to such Payment Date, and except for the final installment of principal payable with respect to such Note on a Payment Date, Prepayment Date or on the applicable Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) Date, which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.033.3.

Appears in 1 contract

Samples: Indenture (GS Auto Loan Trust 2005-1)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C A-4 Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest A-2 Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest A-4 Rate, respectively, as set forth in Exhibit A-1, Exhibit A-2, Exhibit A-3 and such interest shall Exhibit A-4, respectively, and sxxx xxxxxxxx xxxll be due and payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.013.1. Any installment of interest or principal principal, if any, payable on a any Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date either by wire transfer in immediately available funds, to the account of such Noteholder at a bank or other entity having appropriate facilities therefor, if such Noteholder shall have provided to the Note Registrar appropriate written instructions at least five (5) Business Days prior to such Payment Date and such Noteholder's Notes in the aggregate evidence a denomination of not less than $1,000,000, or, if not, by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except ; provided that, unless Definitive Notes have been issued to Note Owners pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee nominee, and except for the final installment of principal payable with respect to such Note on a Payment Date, Prepayment Date or on the applicable Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) Date, which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.as

Appears in 1 contract

Samples: Indenture (Usaa Auto Owner Trust 2004-3)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B A-5 Notes, the Class A-6 Notes and the Class C B Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest A-2 Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest A-5 Rate, the Class A-6 Rate and the Class C Interest B Rate, respectively, as set forth in Exhibit A-1, Xxxxxxx X-0, Xxhibit A-3, Xxxxxxx X-0, Xxhibit A-5, Xxxxxxx X-0 xxx Exhibit A-7, respectively, and such interest shall be due and payable on each Payment Distribution Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.013.1. Any installment of interest or principal principal, if any, payable on a any Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Distribution Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date either by wire transfer in immediately available funds, to the account of such Noteholder at a bank or other entity having appropriate facilities therefor, if such Noteholder shall have provided to the Note Registrar appropriate written instructions at least five (5) Business Days prior to such Distribution Date and such Noteholder's Notes in the aggregate evidence a denomination of not less than $1,000,000, or, if not, by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except ; provided that, unless Definitive Notes have been issued to Note Owners pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee nominee, and except for the final installment of principal payable with respect to such Note on a Payment Distribution Date, Redemption Date or on the applicable Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) Distribution Date, which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.033.3.

Appears in 1 contract

Samples: Indenture (Ford Credit Auto Receivables Two L P)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C A-4 Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b A-2 Interest Rate, the Class A-3 Interest Rate, Rate and the Class A-4 Interest Rate, the Class B Interest Rate respectively, as set forth in Exhibits X-0, X-0, X-0 and the Class C Interest RateA-4, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on each Class of Notes, other than the Class A-2a A-1 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled class final scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 1 contract

Samples: Indenture (Daimlerchrysler Auto Trust 2000 A)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b Notes, the Class A-3 A-3a Notes, the Class A-4 A-3b Notes, the Class A-4a Notes, the Class A-4b Notes, the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest Rate, the Class A-3 A-3a Interest Rate, the Class A-4 A-3b Interest Rate, the Class A-4a Interest Rate, the Class A-4b Interest Rate, the Class B Interest Rate and the Class C Interest Rate, respectively, as set forth in Exhibit X-0, Xxxxxxx X-0x, Exhibit X-0x, Xxxxxxx X-0x, Xxxxxxx X-0x, Xxxxxxx X-0x, Xxxxxxx X-0x, Xxxxxxx B and Exhibit C, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on each Class of Senior Notes, other than the Class A-2a A-1 Notes, the Class A-3 A-2b Notes, the Class A-4 Notes, the Class B A-3b Notes and the Class C Notes A-4b Notes, will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated computed on the basis of the actual number of days in the related Class A-1 Interest Accrual Period and a divided by 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount Class A-2b Notes, the Class A-3b Notes and the Class A-4b Notes will be computed on the basis of the related Class actual number of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained days in the last sentence of Section 3.01Floating Rate Interest Accrual Period divided by 360. Any installment of interest or principal payable on a Note Senior Note, or any Class D Payment Amount payable on the Class D Notes, that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee nominee, and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled class final scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 1 contract

Samples: Indenture (Daimlerchrysler Auto Trust 2008-B)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes, the Class C Notes and the Class C D Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest A-2 Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate, the Class C Rate and the Class D Rate, respectively, as set forth in Exhibit X-0, Xxxxxxx X-0, Exhibit X-0, Xxxxxxx X-0, Exhibit B, Exhibit C Interest Rateand Exhibit D, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.12, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for nominee, if an account is so designated; provided, however, that the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled Payment related Stated Maturity Date for such Class (and except for including the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided in paragraph (b) below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 1 contract

Samples: Indenture (Hyundai Abs Funding Corp)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes shall accrue interest during as provided in the related Interest Accrual Period at the forms of Class A-1 Interest RateNote, the Class A-2a Interest RateA-2 Note and Subordinate Note set forth in Exhibits A-1, the Class A-2b Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate A-2 and the Class C Interest RateA-3, respectively, and such interest shall be payable on each payabxx xx xxxx Xxxxxerly Payment Date as specified therein, subject, in accordance with the priorities set forth in Section 8.02(d) and (e)each case, as applicable, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal principal, if any, payable on a any Note that which is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Quarterly Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer if such Person holds Notes in an aggregate original principal amount in excess of $1,000,000 and provides appropriate written instructions to the Indenture Trustee no later than such Record Date, and otherwise by check mailed first-class, postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.12, with respect to Senior Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Quarterly Payment Date or on the applicable Class A-1 Note Final Scheduled Payment Maturity Date, the Class A-2 Note Final Maturity Date for such Class (and except for or the Redemption Price for any Subordinate Note called for redemption pursuant to Section 10.01) Final Maturity Date, as the case may be, which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 1 contract

Samples: Indenture (Wells Fargo Student Loans Receivables I LLC)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest A-2 Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest Rate, respectively, as set forth in Exhibit A-1, Exhibit A-2, Exhibit A-3, Exhibit A-4, Exhibit B and Exhibit C, xxxxxxxxxxxx, xxd such interest shall be intxxxxx xxxxx xx xue and payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.013.1. Any installment of interest or principal principal, if any, payable on a any Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date either by wire transfer in immediately available funds, to the account of such Noteholder at a bank or other entity having appropriate facilities therefor, if such Noteholder shall have provided to the Note Registrar appropriate written instructions at least five (5) Business Days prior to such Payment Date and such Noteholder's Notes in the aggregate evidence a denomination of not less than $1,000,000, or, if not, by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date; provided, except that, unless Definitive Notes have been issued to Note Owners pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee nominee, and except for the final installment of principal payable with respect to such Note on a Payment Date, the Redemption Date or on the applicable Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) Date, which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.033.3.

Appears in 1 contract

Samples: Indenture (Ford Credit Auto Owner Trust 2005-B)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B A-5 Notes and the Class C B Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest A-2 Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest A-5 Rate and the Class C Interest B Rate, respectively, as set forth in Exhibit A-1, Xxxxxxx X-0, Xxhibit A- 3, Exhibit A-4, Xxxxxxx X-0 xxx Exhibit A-6, respectively, and such interest shall be due and payable on each Payment Distribution Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.013.1. Any installment of interest or principal principal, if any, payable on a any Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Distribution Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date either by wire transfer in immediately available funds, to the account of such Noteholder at a bank or other entity having appropriate facilities therefor, if such Noteholder shall have provided to the Note Registrar appropriate written instructions at least five (5) Business Days prior to such Distribution Date and such Noteholder's Notes in the aggregate evidence a denomination of not less than $1,000,000, or, if not, by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except ; provided that, unless Definitive Notes have been issued to Note Owners pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee nominee, and except for the final installment of principal payable with respect to such Note on a Payment Distribution Date, Redemption Date or on the applicable Final Scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) Distribution Date, which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.033.3.

Appears in 1 contract

Samples: Ford Credit Auto Receivables Two L P

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C B Indenture Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b A-2 Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C B Interest Rate, respectively, as set forth in Exhibit A-1, Exhibit A-2, Exhibit A-3, Exhibit A-4 and such interest shall be payable on Exhibit B, respectivxxx, xxx xxxx xxterest shaxx xx xxxxxxx xx each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on each Class of Notes, other than the Class A-2a A-1 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated computed on the basis of the actual number of days in the related Class A-1 Interest Accrual Period and a divided by 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee nominee, and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled class final scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 1 contract

Samples: Indenture (Daimlerchrysler Auto Trust 2005-A)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest A-2 Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest Rate, respectively, as set forth in Exhibit A-1, Exhibit A-2, Exhibit A-3, Exhibit A-4, Exhibit B and Exhibit X, xxxxxxxxxxxx, and such interest shall xxxxxxxx xxxxx be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, or in the case of a Registered Holder holding of record in excess of $10,000,000 aggregate principal amount of any Class of Notes, by wire transfer in immediately available funds to an account designated by such Registered Holder, except that, unless Definitive Notes have been issued pursuant to Section 2.132.12, with respect to Book-Entry Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for nominee; provided, however, that the final installment of principal payable with respect to such Note on a Payment Date or on the applicable related Final Scheduled Payment Date for such Class (and except for including the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided in paragraph (b) below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 1 contract

Samples: Indenture (Regions Acceptance LLC Regions Auto Receivables Tr 2003-2)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b Notes, the Class A-3 A-3a Notes, the Class A-3b Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest Rate, the Class A-3 A-3a Interest Rate, the Class A-3b Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest Rate, respectively, as set forth in Exhibit A-0, Xxxxxxx X-0x, Exhibit A-0x, Xxxxxxx X-0x, Xxxxxxx X-0x, Xxxxxxx A-4, Exhibit B and Exhibit C, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on each Class of Senior Notes, other than the Class A-2a A-1 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B A-2b Notes and the Class C Notes A-3b Notes, will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated computed on the basis of the actual number of days in the related Class A-1 Interest Accrual Period and a divided by 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount Class A-2b Notes and the Class A-3b Notes will be computed on the basis of the related Class actual number of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained days in the last sentence of Section 3.01Floating Rate Interest Accrual Period divided by 360. Any installment of interest or principal payable on a Note Senior Note, or any Class D Payment Amount payable on the Class D Notes, that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee nominee, and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled class final scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 1 contract

Samples: Daimlerchrysler Auto Trust 2008-A

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest A-2 Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest B Rate, respectively, as set forth in Exhibit X-0, Xxxxxxx X-0, Exhibit X-0, Xxxxxxx X-0 and Exhibit A-5, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.12, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for nominee; provided, however, that the final installment of principal payable with respect to such Note on a Payment Date or on the applicable related Final Scheduled Payment Date for such Class (and except for including the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided in paragraph (b) below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 1 contract

Samples: Indenture (BMW Vehicle Owner Trust 2004-A)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, Notes and the Class B Notes and the Class C Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest A-2 Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest B Rate, respectively, as set forth in Exhibit A-1, Exhibit A-2, Exhibit A-3, Exhibit A-4 and such interest shall be payable on Exhibit A-5, respectivxxx, xxx xxxx xxterest shaxx xx xxxxxxx xx each Payment Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.12, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will shall be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for nominee; provided, however, that the final installment of principal payable with respect to such Note on a Payment Date or on the applicable related Final Scheduled Payment Date for such Class (and except for including the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided in paragraph (b) below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 1 contract

Samples: Indenture (BMW Vehicle Owner Trust 2002-A)

Payment of Principal and Interest; Defaulted Interest. NOTEHOLDERS' INTEREST INDEX CARRYOVER. (a) The Class I-A-1 Notes, the Class A-2a I-A-2 Notes, the Class A-2b I-B Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B II-A-1 Notes and the Class C II-A-2 Notes shall accrue interest during as provided in the related Interest Accrual Period at forms of the Class I-A-1 Interest RateNote, the Class A-2a Interest RateI-A-2 Note, the Class A-2b Interest RateI-B Note, the Class A-3 Interest Rate, the II-A-1 Note and Class A-4 Interest Rate, the Class B Interest Rate and the Class C Interest RateII-A-2 Note set forth in Exhibits A-1 through A-5, respectively, and such interest shall be payable on each Payment Distribution Date in accordance with the priorities set forth in Section 8.02(d) and (e), as applicablespecified therein, subject to Section 3.01. Interest on the Class A-2a Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. Any installment of interest (and any related Noteholders' Interest Index Carryover with respect to each Class of Notes) or principal principal, if any, payable on a any Note that which is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Distribution Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class, postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.132.12, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Distribution Date or on the applicable Note Final Scheduled Payment Maturity Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

Appears in 1 contract

Samples: Indenture (Keycorp Student Loan Trust 2001-A)

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C B Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b A-2 Interest Rate, the Class A-3 Interest Rate, the Class A-4 Interest Rate, the Class B Interest Rate and the Class C B Interest Rate, respectively, and such interest shall be payable on each Payment Date in accordance with the priorities set forth in Section 8.02(d8.02(c), (d) -------------------- and (e), as applicable, applicable subject to Section 3.01. Interest on each Class of Notes ------- ------------ (other than the Class A-2a A-1 Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes ) will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes and the Class A-2b Notes will be calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year. The Issuing Entity Issuer will pay interest on each Class of Notes at the related Interest Rate on each Payment Date on the principal amount of the related Class of Notes outstanding on the preceding Payment Date (after giving effect to all payments of principal made on the preceding Payment Date), subject to certain limitations contained in the last sentence of Section 3.01. ------------ Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuing Entity Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check or wire transfer mailed first-class postage prepaid to such Person’s 's address or designated account as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of ------------ the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.) or WOAR or any of its Affiliates), payment will be made by wire transfer in immediately available funds to the account designated by such person or nominee and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable Final Scheduled class final scheduled Payment Date for such Class (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall ------------- be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.. ------------

Appears in 1 contract

Samples: Indenture (World Omni Auto Receivables LLC)

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