Common use of Termination of the Trusts Created by Indenture Clause in Contracts

Termination of the Trusts Created by Indenture. (a) The trusts created hereby and the respective obligations and responsibilities of the Issuer and the Indenture Trustee shall terminate upon (i) the purchase as of any Payment Date by the Servicer, or any successor to the Servicer, at its option of the Receivables primarily comprising the corpus of the Trust Estate as described in Section 10.02, (ii) the payment to the Noteholders of all amounts required to be paid to them pursuant to this Agreement and the release to the Owner Trustee of all remaining amounts or investments on deposit in the Collection Account and the release to the Seller of the amounts held in the Reserve Account or (iii) the maturity or liquidation of the last Receivable and the disposition of all property held as part of the Trust Estate; provided, however, that in no event shall the trust created by this Indenture continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Xxxxxx X. Xxxxxxx, the late ambassador of the United States to the Court of St. Xxxxx, living on the date of this Indenture. The Indenture Trustee shall promptly notify the Issuer and the Administrator of any prospective termination pursuant to this Section. The Issuer shall provide the Rating Agencies notice of any such termination upon receipt by it of the notice from the Indenture Trustee referred to in the immediately preceding sentence.

Termination of the Trusts Created by Indenture. (a) The trusts created hereby and the respective obligations and responsibilities of the Issuer and the Indenture Trustee shall terminate upon (i) the purchase as of any Payment Date by the Servicer, or any successor to the Servicer, at its option of the Receivables primarily comprising the corpus of the Trust Estate as described in Section 10.02, (ii) the payment to the Noteholders of all amounts required to be paid to them pursuant to this Agreement and the release to the Owner Trustee of all remaining amounts or investments on deposit in the Collection Account and the release to the Seller of the amounts held in the Reserve Account or (iii) the maturity or liquidation of the last Receivable and the disposition of all property held as part of the Trust Estate; provided, however, that in no event shall the trust created by this Indenture continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Xxxxxx X. Xxxxxxx, the late ambassador of the United States to the Court of St. Xxxxx, living on the date of this Indenture. The Indenture Trustee shall promptly notify the Issuer and the Administrator each Rating Agency of any prospective termination pursuant to this Section. The Issuer shall provide the Rating Agencies notice of any such termination upon receipt by it of the notice from the Indenture Trustee referred to in the immediately preceding sentence.

Termination of the Trusts Created by Indenture. (a) The trusts created hereby and the respective obligations and responsibilities of the Issuer Issuer, the Administrator and the Indenture Trustee shall terminate upon (i) the purchase as of any Payment Date by the Servicer, or any successor to the Servicer, at its option of the Receivables primarily comprising the corpus of the Owner Trust Estate as described in Section 10.02, (ii) the payment to the Noteholders of all amounts required to be paid to them pursuant to this Agreement and the release to the Owner Trustee of all remaining amounts or investments on deposit in the Collection Account or Payahead Account and the release to the Seller of the amounts held in the Reserve Account or (iii) the maturity or liquidation of the last Receivable and the disposition of all property held as part of the Owner Trust Estate; provided, however, that in no event shall the trust created by this Indenture continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Xxxxxx X. Xxxxxxx, the late ambassador of the United States to the Court of St. Xxxxx, living on the date of this Indenture. The Indenture Owner Trustee shall promptly notify the Issuer Indenture Trustee and the Administrator each Rating Agency of any prospective termination pursuant to this Section. The Issuer shall provide the Rating Agencies notice of any such termination upon receipt by it of the notice from the Indenture Trustee referred to in the immediately preceding sentence.

Termination of the Trusts Created by Indenture. (a) The trusts created hereby and the respective obligations and responsibilities of the Issuer Issuer, the Administrator and the Indenture Trustee shall terminate upon (i) the purchase as of any Payment Date by the Servicer, or any successor to the Servicer, at its option of the Receivables primarily comprising the corpus of the Owner Trust Estate as described in Section 10.02, (ii) the payment to the Noteholders of all amounts required to be paid to them pursuant to this Agreement and the release to the Owner Trustee of all remaining amounts or investments on deposit in the Collection Account or Payahead Account, the payment to the Swap Counterparty all amounts required to be paid to it pursuant to the Interest Rate Swap Agreement, the payment to the Holder of the Revolving Liquidity Note of all amounts required to be paid to it pursuant to the Revolving Liquidity Note Agreement and the release to the Seller of the amounts held in the Reserve Account or (iii) the maturity or liquidation of the last Receivable and the disposition of all property held as part of the Owner Trust Estate; provided, however, that in no event shall the trust created by this Indenture continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Xxxxxx X. Xxxxxxx, the late ambassador of the United States to the Court of St. Xxxxx, living on the date of this Indenture. The Indenture Owner Trustee shall promptly notify the Issuer Indenture Trustee and the Administrator each Rating Agency of any prospective termination pursuant to this Section. The Issuer shall provide the Rating Agencies notice of any such termination upon receipt by it of the notice from the Indenture Trustee referred to in the immediately preceding sentence.

Termination of the Trusts Created by Indenture. (a) The trusts created hereby and the respective obligations and responsibilities of the Issuer Issuer, the Administrator and the Indenture Trustee shall terminate upon (i) the purchase as of any Payment Date by the Servicer, or any successor to the Servicer, at its option of the Receivables primarily comprising the corpus of the Owner Trust Estate as described in Section 10.02, (ii) the payment to the Noteholders of all amounts required to be paid to them pursuant to this Agreement and the release to the Owner Trustee of all remaining amounts or investments on deposit in the Collection Account Account, the payment to the Swap Counterparty all amounts required to be paid to it pursuant to the Interest Rate Swap Agreement and the release to the Seller of the amounts held in the Reserve Account or (iii) the maturity or liquidation of the last Receivable and the disposition of all property held as part of the Owner Trust Estate; provided, however, that in no event shall the trust created by this Indenture continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Xxxxxx X. Xxxxxxx, the late ambassador of the United States to the Court of St. Xxxxx, living on the date of this Indenture. The Indenture Owner Trustee shall promptly notify the Issuer Indenture Trustee and the Administrator each Rating Agency of any prospective termination pursuant to this Section. The Issuer shall provide the Rating Agencies notice of any such termination upon receipt by it of the notice from the Indenture Trustee referred to in the immediately preceding sentence.

Termination of the Trusts Created by Indenture. (a) The trusts created hereby and the respective obligations and responsibilities of the Issuer Issuer, the Administrator and the Indenture Trustee shall terminate upon (i) the purchase as of any Payment Date by the Servicer, or any successor to the Servicer, at its option of the Receivables primarily comprising the corpus of the Owner Trust Estate as described in Section 10.02, (ii) the payment to the Noteholders of all amounts required to be paid to them pursuant to this Agreement and the release to the Owner Trustee of all remaining amounts or investments on deposit in the Collection Account or Payahead Account, the payment to the Swap Counterparty all amounts required to be paid to them pursuant to the Interest Rate Swap Agreement, and the release to the Seller of the amounts held in the Reserve Account or (iii) the maturity or liquidation of the last Receivable and the disposition of all property held as part of the Owner Trust Estate; provided, however, that in no event shall the trust created by this Indenture continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Xxxxxx X. Xxxxxxx, the late ambassador of the United States to the Court of St. Xxxxx, living on the date of this Indenture. The Indenture Owner Trustee shall promptly notify the Issuer Indenture Trustee and the Administrator each Rating Agency of any prospective termination pursuant to this Section. The Issuer shall provide the Rating Agencies notice of any such termination upon receipt by it of the notice from the Indenture Trustee referred to in the immediately preceding sentence.

Termination of the Trusts Created by Indenture. (a) The trusts created hereby and the respective obligations and responsibilities of the Issuer Issuer, the Administrator and the Indenture Trustee shall terminate upon (i) the purchase as of any Payment Distribution Date by the Seller or Servicer, or any successor to the Servicer, at its option of the Receivables primarily comprising the corpus of the Owner Trust Estate as described in Section 10.0210.03, (ii) the payment to the Noteholders of all amounts required to be paid to them pursuant to this Agreement and the release to the Owner Trustee of all remaining amounts or investments on deposit in the Collection Account and the release to the Seller of the amounts held in the Reserve Account or Trust Accounts, (iii) the maturity or liquidation of the last Receivable and the disposition of all property held as part of the Owner Trust Estate, [or (iv) a Swap Termination Event as provided in Section 10.02]; provided, however, that in no event shall the trust created by this Indenture continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Xxxxxx X. Xxxxxxx, the late ambassador Xxxxxxx Xxxxxxxxx Xxxxxxx of the United States to the Court State of St. XxxxxArkansas, living on the date of this Indenture. The Indenture Owner Trustee shall promptly notify the Issuer Indenture Trustee and the Administrator each Rating Agency of any prospective termination pursuant to this Section. The Issuer shall provide the Rating Agencies notice of any such termination upon receipt by it of the notice from the Indenture Trustee referred to in the immediately preceding sentence.

Termination of the Trusts Created by Indenture. (a) The trusts created hereby and the respective obligations and responsibilities of the Issuer Issuer, the Administrator and the Indenture Trustee shall terminate upon (i) the purchase as of any Payment Date by the Servicer, or any successor to the Servicer, at its option of the Receivables primarily comprising the corpus of the Owner Trust Estate as described in Section 10.02, (ii) the payment to the Noteholders of all amounts required to be paid to them pursuant to this Agreement and the release to the Owner Trustee of all remaining amounts or investments on deposit in the Collection Account or Payahead Account, the payment to the Holder of the Revolving Liquidity Note of all amounts required to be paid to it pursuant to the Revolving Liquidity Note Agreement and the release to the Seller of the amounts held in the Reserve Account or (iii) the maturity or liquidation of the last Receivable and the disposition of all property held as part of the Owner Trust Estate; provided, however, that in no event shall the trust created by this Indenture continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Xxxxxx X. XxxxxxxJoseph P. Kennedy, the late ambassador of the United States to the Court of St. Couxx xx Xx. Xxxxx, living on the date of this Indenture. The Owner Trustee shall pxxxxxly notify the Indenture Trustee shall promptly notify the Issuer and the Administrator each Rating Agency of any prospective termination pursuant to this Section. The Issuer shall provide the Rating Agencies notice of any such termination upon receipt by it of the notice from the Indenture Trustee referred to in the immediately preceding sentence.

Termination of the Trusts Created by Indenture. (a) The trusts created hereby and the respective obligations and responsibilities of the Issuer Issuer, the Administrator and the Indenture Trustee shall terminate upon (i) the purchase as of any Payment Date by the Servicer, or any successor to the Servicer, at its option of the Receivables primarily comprising the corpus of the Owner Trust Estate as described in Section 10.02, (ii) the payment to the Noteholders of all amounts required to be paid to them pursuant to this Agreement and the release to the Owner Trustee of all remaining amounts or investments on deposit in the Collection Account or Payahead Account, [the payment to the Swap Counterparty all amounts required to be paid to it pursuant to the Interest Rate Swap Agreement,] [the payment to the Holder of the Revolving Liquidity Note of all amounts required to be paid to it pursuant to the Revolving Liquidity Note Agreement] and the release to the Seller of the amounts held in the Reserve Account or (iii) the maturity or liquidation of the last Receivable and the disposition of all property held as part of the Owner Trust Estate; provided, however, that in no event shall the trust created by this Indenture continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Xxxxxx X. Xxxxxxx, the late ambassador of the United States to the Court of St. Xxxxx, living on the date of this Indenture. The Indenture Owner Trustee shall promptly notify the Issuer Indenture Trustee and the Administrator each Rating Agency of any prospective termination pursuant to this Section. The Issuer shall provide the Rating Agencies notice of any such termination upon receipt by it of the notice from the Indenture Trustee referred to in the immediately preceding sentence.

Termination of the Trusts Created by Indenture. (a) The trusts created hereby and the respective obligations and responsibilities of the Issuer and the Indenture Trustee shall terminate upon (i) the purchase as of any Payment Date by the Servicer, or any successor to the Servicer, at its option of the Receivables primarily comprising the corpus of the Trust Estate as described in Section 10.02, (ii) the payment to the Noteholders of all amounts required to be paid to them pursuant to this Agreement and the release to the Owner Trustee of all remaining amounts or investments on deposit in the Collection Account and the release to the Seller of the amounts held in the Reserve Account or (iii) the maturity or liquidation of the last Receivable and the disposition of all property held as part of the Trust Estate; provided, however, that in no event shall the trust created by this Indenture continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Xxxxxx Jxxxxx X. Xxxxxxx, the late ambassador of the United States to the Court of St. XxxxxJxxxx, living on the date of this Indenture. The Indenture Trustee shall promptly notify the Issuer and the Administrator of any prospective termination pursuant to this Section. The Issuer shall provide the Rating Agencies notice of any such termination upon receipt by it of the notice from the Indenture Trustee referred to in the immediately preceding sentence.

Termination of the Trusts Created by Indenture. (a) The trusts created hereby and the respective obligations and responsibilities of the Issuer Issuer, the Administrator and the Indenture Trustee shall terminate upon (i) the purchase as of any Payment Date by the Servicer, or any successor to the Servicer, at its option of the Receivables primarily comprising the corpus of the Owner Trust Estate as described in Section 10.02, (ii) the payment to the Noteholders of all amounts required to be paid to them pursuant to this Agreement and the release to the Owner Trustee of all remaining amounts or investments on deposit in the Collection Account or Payahead Account, [the payment to the Swap Counterparty all amounts required to be paid to it pursuant to the Interest Rate Swap Agreement], [the payment to the Holder of the Revolving Liquidity Note of all amounts required to be paid to it pursuant to the Revolving Liquidity Note Agreement] and the release to the Seller of the amounts held in the Reserve Account or (iii) the maturity or liquidation of the last Receivable and the disposition of all property held as part of the Owner Trust Estate; provided, however, that in no event shall the trust created by this Indenture continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Xxxxxx X. Xxxxxxx, the late ambassador of the United States to the Court of St. Xxxxx, living on the date of this Indenture. The Indenture Owner Trustee shall promptly notify the Issuer Indenture Trustee and the Administrator each Rating Agency of any prospective termination pursuant to this Section. The Issuer shall provide the Rating Agencies notice of any such termination upon receipt by it of the notice from the Indenture Trustee referred to in the immediately preceding sentence.