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

Payment of Principal and Interest; Defaulted Interest. a) The A-1 Notes, A-2 Notes, A-3 Notes, A-4 Notes and Class B Notes shall accrue interest at the A-1 Note Rate, the A-2 Note Rate, the A-3 Note Rate, the A-4 Note Rate and the Class B Note Rate, respectively, and such interest shall be payable on each Payment Date, subject to Section 3.1. Any installment of interest or principal, if any, payable on any 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 mailed first-class, postage prepaid, to such Person’s address as it appears on the Note Register on such Record Date. However, unless Definitive Notes have been issued, 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.), payment will be made by wire transfer in immediately available funds to the account designated by such nominee. Notwithstanding the above, the final installment of principal payable with respect to such Note (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.1(a)) shall be payable as provided in clause (b)(ii). The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.3.

Payment of Principal and Interest; Defaulted Interest. a) The A-1 Notes, A-2 A-2a Notes, A-2b Notes, A-3 Notes, A-4 Notes and Class B Notes shall accrue interest at the A-1 Note Rate, the A-2 A-2a Note Rate, the A-2b Note Rate, the A-3 Note Rate, the A-4 Note Rate and the Class B Note Rate, respectively, and such interest shall be payable on each Payment Date, subject to Section Section 3.1. Any installment of interest or principal, if any, payable on any 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 mailed first-class, postage prepaid, to such Person’s address as it appears on the Note Register on such Record Date. However, unless Definitive Notes have been issued, 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.), payment will be made by wire transfer in immediately available funds to the account designated by such nominee. Notwithstanding the above, the final installment of principal payable with respect to such Note (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.1(a)) shall be payable as provided in clause (b)(ii). The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.3.

Payment of Principal and Interest; Defaulted Interest. a) The A-1 01. Interest on each Class of Notes, A-2 other than the Class [A-1] Notes, A-3 Notes, A-4 Notes and Class B Notes shall accrue interest at will be calculated on the A-1 Note Rate, the A-2 Note Rate, the A-3 Note Rate, the A-4 Note Rate and basis of a 360-day year consisting of twelve 30-day months. Interest on the Class B Note Rate, respectively, and such interest shall [A-1] Notes will be payable computed on each Payment Date, subject to Section 3.1the basis of the actual number of days in the Class [A-1] Interest Accrual Period divided by 360. Any installment of interest or principal, if any, principal payable on any 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 mailed first-class, class postage prepaid, prepaid to such Person’s 's address as it appears on the Note Register on such Record Date. However, except that, unless Definitive Notes have been issuedissued 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.), payment will be made by wire transfer in immediately available funds to the account designated by such nominee. Notwithstanding the above, 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 (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.1(a)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 3.33.03.

Payment of Principal and Interest; Defaulted Interest. (a) The A-1 Notes, A-2 Notes, A-3 Notes, A-4 Class A Notes and Class B Notes shall accrue interest at the A-1 Note Rate, the A-2 Note Rate, the A-3 Note Rate, the A-4 Note Class A Interest Rate and the Class B Note Interest Rate, respectively, and such interest shall be payable on each Payment Date, subject as and to Section 3.1the extent provided in Section 4.5 of the Sale and Servicing Agreement and Section 3.1 of this Indenture. Any installment of interest or principal, if any, payable on 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 related Record Date Date, by wire transfer of immediately available funds, or (if such Person has not delivered to the Trustee in writing instructions with respect to effecting a wire transfer to such Person) by check mailed first-class, postage prepaid, prepaid to such Person’s 's address as it appears on the Note Register on such Record Date. However, unless Definitive Notes have been issued, 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.), payment will be made by wire transfer in immediately available funds to the account designated by such nominee. Notwithstanding the above, the final installment of principal payable with respect to such Note the Notes (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.1(a)10.1) shall be payable as provided in clause (b)(iiSection 2.7(b)(ii). The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.3. (i) The principal of each Note shall be payable in installments on each Payment Date (including the Final Scheduled Payment Date) as and to the extent provided in this Indenture and in Section 4.5

Payment of Principal and Interest; Defaulted Interest. (a) The A-1 Notes, A-2 Notes, A-3 Notes, A-4 Notes and Class B Notes shall accrue interest at the A-1 Note Rate, the A-2 Note Rate, the A-3 Note Rate, the A-4 Note Rate and the Class B Note Rate, respectivelyas provided herein, and such interest amount shall be due and payable on each Payment Date, subject to Section 3.1Date as specified herein. Any installment of interest or principal, if any, principal payable on any Note that which is punctually paid or duly provided for by the Issuing Entity Trust 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 Date, by check mailed first-class, postage prepaid, to such Person’s 's address as it appears on the Note Register on such Record Date. However; provided, that, unless Definitive Notes have been issuedissued pursuant to Section 2.11, 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.), payment will be made by wire transfer in immediately available funds to the account designated by such nominee. Notwithstanding the above; and provided, further, that the final installment of principal payable with respect to such Note on a Payment Date or on the Final Scheduled Payment Date (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.1(a10.01(a)) shall be payable as provided in clause (b)(ii). The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.3.which