Common use of Reserve Account Draw Amount Clause in Contracts

Reserve Account Draw Amount. On or before two Business Days before a Payment Date, the Servicer will calculate the Reserve Account Draw Amount for the Payment Date and will direct the Indenture Trustee to withdraw from the Reserve Account and deposit the Reserve Account Draw Amount into the Collection Account on or before the Payment Date.

Appears in 58 contracts

Samples: Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2024-C), Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2024-C), Sale and Servicing Agreement (Ford Credit Auto Receivables Two LLC)

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Reserve Account Draw Amount. On or before two (2) Business Days before a Payment Date, the Servicer will calculate the Reserve Account Draw Amount for the Payment Date and will direct the Indenture Trustee Note Paying Agent to withdraw from the Reserve Account and deposit the Reserve Account Draw Amount into the Collection Distribution Account on or before the Payment Date (x) the Reserve Account Draw Amount and (y) any amount in excess of the Required Reserve Amount for such Payment Date, after giving effect to the withdrawal of the Reserve Account Draw Amount with respect to such Payment Date.

Appears in 41 contracts

Samples: Indenture (Verizon Master Trust), Verizon Master Trust, Verizon Master Trust

Reserve Account Draw Amount. On or before At least two Business Days before a each Payment Date, the Servicer will calculate the Reserve Account Draw Amount for the Payment Date and will direct the Indenture Trustee to withdraw the amount, if any, from the Reserve Account and deposit it in the Reserve Account Draw Amount into the Exchange Note Collection Account on or before the Payment DateAccount.

Appears in 36 contracts

Samples: Servicing Agreement (Ford Credit Auto Lease Trust 2024-B), Servicing Agreement (Ford Credit Auto Lease Trust 2024-B), Servicing Agreement (CAB East LLC)

Reserve Account Draw Amount. On or before two (2) Business Days before a Payment Date, the Servicer will calculate the Reserve Account Draw Amount for the Payment Date and will direct the Indenture Trustee Note Paying Agent to withdraw from the Reserve Account and deposit the Reserve Account Draw Amount into the Collection Account on or before the Payment Date (x) the Reserve Account Draw Amount and (y) any amount in excess of the Required Reserve Amount for such Payment Date, after giving effect to the withdrawal of the Reserve Account Draw Amount with respect to such Payment Date.

Appears in 21 contracts

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

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Reserve Account Draw Amount. On or before [two (2)] Business Days before a Payment Date, the Servicer will calculate the Reserve Account Draw Amount for the Payment Date and will direct the Indenture Trustee Note Paying Agent to withdraw from the Reserve Account and deposit the Reserve Account Draw Amount into the Collection Account on or before the Payment Date (x) the Reserve Account Draw Amount and (y) any amount in excess of the Required Reserve Amount for such Payment Date, after giving effect to the withdrawal of the Reserve Account Draw Amount with respect to such Payment Date.

Appears in 3 contracts

Samples: Transfer and Servicing Agreement (Verizon ABS LLC), Transfer and Servicing Agreement (Verizon ABS LLC), Transfer and Servicing Agreement (Verizon ABS LLC)

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