Common use of Proceeds of Collateral Clause in Contracts

Proceeds of Collateral. Any money or property collected by the Indenture Trustee after an acceleration of the Notes will be deposited in the Collection Account for distribution according to Section 8.2(e) on the Payment Date after the Collection Period during which those amounts are collected. In all other circumstances, Section 8.2(c) will continue to apply after an Event of Default.

Appears in 44 contracts

Samples: Indenture (Ford Credit Auto Owner Trust 2024-A), Indenture (Ford Credit Auto Owner Trust 2024-A), Indenture (Ford Credit Auto Owner Trust 2023-C)

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Proceeds of Collateral. Any money or property collected by the Indenture Trustee after an acceleration of the Notes will be deposited in the Collection Account for distribution according to Section 8.2(e8.2(d) on the Payment Date after the Collection Period during which those amounts are collected. In all other circumstances, Section 8.2(c) will continue to apply after an Event of Default.

Appears in 30 contracts

Samples: Indenture (Ford Credit Auto Lease Trust 2024-A), Indenture (Ford Credit Auto Lease Trust 2024-A), Indenture (Ford Credit Auto Lease Trust 2023-B)

Proceeds of Collateral. Any money or property collected by the Indenture Trustee after the occurrence of an Event of Default that has not been waived or cured and an acceleration of the Notes will be deposited in the Collection Account for distribution according to Section 8.2(e) on the Payment Date after the Collection Period during which those amounts are collected. In all other circumstances, Section 8.2(c) will continue to apply after an Event of Default.

Appears in 23 contracts

Samples: Transfer and Servicing Agreement (Verizon Owner Trust 2020-C), Transfer and Servicing Agreement (Verizon Owner Trust 2020-B), Transfer and Servicing Agreement (Verizon Owner Trust 2020-A)

Proceeds of Collateral. Any money or property collected by the Indenture Trustee after following the occurrence of an Event of Default and an acceleration of the Notes will be deposited in the Collection Account for distribution according to Section 8.2(e) on the Payment Date after following the Collection Period during which those amounts are collected. In all other circumstances, Section 8.2(c) will continue to apply after an Event of Default.

Appears in 5 contracts

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

Proceeds of Collateral. Any money or property collected by the Indenture Trustee after an acceleration following the sale or other liquidation of the Notes Collateral under Section 5.6(a)(iii) will be deposited in the Collection Account for distribution according to Section 8.2(e8.2(d) on the Payment Date after the Collection Period during which those amounts are collected. In all other circumstances, Section 8.2(c) will continue to apply after an Event of Default.

Appears in 4 contracts

Samples: Indenture (Ford Credit Auto Lease Two LLC), Indenture (Ford Credit Auto Lease Two LLC), Indenture (CAB East LLC)

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Proceeds of Collateral. Any money or property collected by the Indenture Trustee after the occurrence of an Event of Default and an acceleration of the Notes will be deposited in the Collection Account for distribution according to Section 8.2(e) on the Payment Date after the Collection Period during which those amounts are collected. In all other circumstances, Section 8.2(c) will continue to apply after an Event of Default.

Appears in 4 contracts

Samples: Indenture (Ford Credit Auto Owner Trust 2016-B), Indenture (Ford Credit Auto Owner Trust 2016-B), Indenture (Ford Credit Auto Owner Trust 2016-A)

Proceeds of Collateral. Any money or property collected by the Indenture Trustee after an acceleration following the sale or other liquidation of the Notes Collateral under Section 5.6(a)(iii) will be deposited in the Collection Account for distribution according to Section 8.2(e8.2(d) on the Payment Date after following the Collection Period during which those amounts are collected. In all other circumstances, Section 8.2(c) will continue to apply after an Event of Default.

Appears in 1 contract

Samples: Indenture (CAB East LLC)

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