Common use of Payment Instruction to Master Trust Clause in Contracts

Payment Instruction to Master Trust. (a) Promptly after the receipt by the Issuer of each Monthly Servicer’s Certificate under the Series 2004-MC Supplement, the Issuer shall, in cooperation with the Servicer of the Master Trust, complete the Payment Instruction and deliver a copy thereof to the Indenture Trustee and the Master Trust Trustee. (b) From time to time, the Issuer shall notify the Servicer under the Series 2004-MC Supplement of the information necessary to be provided by the Issuer under Section 5.2 of the Pooling and Servicing Agreement as supplemented by the Series 2004-MC Supplement to calculate the Investor Interest and the Principal Allocation Investor Interest of the Collateral Certificate.

Appears in 2 contracts

Sources: Indenture (Mellon Bank Premium Finance Loan Master Trust), Indenture (Mellon Premium Finance Loan Owner Trust)