Common use of Payment to Noteholders Clause in Contracts

Payment to Noteholders. The Issuer will duly and punctually pay the principal of (subject to the parenthetical in the following sentence), interest, if any, on and any on Noteholders' Interest Basis Carryover (but only to the extent provided in Sections 2.07(d) and 8.02(d)) with respect to the Notes in accordance with the terms of the Notes and this Indenture. Without limiting the foregoing, subject to Section 8.02(d), the Issuer will cause to be distributed to the Senior Noteholders and the Subordinate Noteholders in accordance with the Administration Agreement and Section 8.02 hereof that portion of the amounts on deposit in the Trust Accounts on a Quarterly Payment Date which the Noteholders are entitled to receive pursuant to the Administration Agreement. Amounts properly withheld under the Code by any Person from a payment to any Noteholder of interest (including any Noteholders' Interest Basis Carryover) and/or principal shall be considered as having been paid by the Issuer to such Noteholder for all purposes of this Indenture.

Payment to Noteholders. The Issuer will duly and punctually pay the principal of (subject to the parenthetical in the following sentence)of, interest, if any, on and any interest on Noteholders' Interest Basis Carryover (but only to the extent provided in Sections 2.07(d1.13(a)(iv) and 8.02(d8.03(b)) with respect to the Notes in accordance with the terms of the Notes and this Indenture. Without limiting the foregoing, subject to Section 8.02(d8.03(b), the Issuer will cause to be distributed paid to the Senior Class A Noteholders and on the Subordinate Noteholders in accordance with the Administration Agreement and Section 8.02 hereof Payment Date that portion of the amounts on deposit in the Trust Accounts on a Quarterly Payment Date which the Class A Noteholders are entitled to receive pursuant receive, and will cause to be paid to the Administration AgreementClass B Noteholders on the Payment Date that portion of the amounts on deposit in the Trust Accounts which the Class B Noteholders are entitled to receive. Amounts properly withheld under the Code by any Person from a payment to any Noteholder of interest (including any Noteholders' Interest Basis Carryover) and/or principal shall be considered as having been paid by the Issuer to such Noteholder for all purposes of this Indenture.