PAYMENTS TO SECURED CREDITORS Sample Clauses

PAYMENTS TO SECURED CREDITORS. Subject to paragraph 6 (Limited Recourse; Non-Petition) of the Common Terms, the Loan Note Issuer hereby covenants to pay to the Security Trustee all amounts due to the Secured Creditors of a Series of Loan Notes in accordance with the associated Loan Note Conditions and the relevant Series Documents and any other amounts payable by the Loan Note Issuer hereunder or under any other Transaction Documents which the Security Trustee determines in its sole discretion are referable or allocable to such Series of Loan Notes (the "Secured Obligations"), provided, however, that payment of any sum due to a Secured Creditor of such Series of Loan Notes made to such Secured Creditor shall, to that extent, satisfy such obligation. This covenant shall only have effect each time obligations are owed to Secured Creditors when the Security Trustee shall hold the benefit of this covenant in relation to each Series on trust for itself and each Secured Creditor of such Series according to their respective interests. For the avoidance of doubt, nothing in this Deed shall prevent the Loan Note Issuer from creating security pursuant to a Loan Note Supplement over specific assets (for the avoidance of doubt, not including the property charged or (as the case may be) assigned under Clause 6.1.1 (Assignment and Floating Charge)) in relation to a Series of Loan Notes in favour of a specific sub-group of secured creditors or secured obligations in relation to such Series of Loan Notes. Subject as provided in the relevant Loan Note Supplement, the provisions of this Deed shall, where the context permits, apply to any such security mutatis mutandis as if it were created over Secured Property in respect of Secured Obligations owed to Secured Creditors hereunder.

PAYMENTS TO SECURED CREDITORS. Notwithstanding clause 3.1, every payment by the Trustee, or the Security Trustee in accordance with this Deed, to the Secured Creditors on account of the Secured Moneys will operate as payment by the Trustee to the Security Trustee in satisfaction of the Trustee's obligations in respect of the Secured Moneys.

PAYMENTS TO SECURED CREDITORS. All payments required to be made to (i) the Lenders hereunder shall be made to the Administrative Agent for the account of the respective Lenders, (ii) the Senior Note Creditors hereunder shall be made directly to the Senior Note Trustee for the account of the Senior Note Creditors, and (iii) the Designated Hedge Creditors hereunder shall be made directly to the Designated Hedge Creditors (or any paying agents therefor).

PAYMENTS TO SECURED CREDITORS. All payments to be made by the Collateral Agent to the Noteholders pursuant to the terms and provisions of this Agreement shall be made in the manner set forth in Schedule 4 hereto (such Schedule to correspond with the current version of Annex 1 of each of the respective Note Purchase Agreements), or at such other place within the United States and in such other manner as each Noteholder may designate for the purpose by notice to the Collateral Agent in writing. All payments to be made by the Collateral Agent to the Lenders pursuant to the terms and provisions of this Agreement shall be made by electronic funds transfer of immediately available funds to the bank account for the Administrative Agent for the benefit of the Lenders as described in Schedule 5 hereto or to such other bank account as the Administrative Agent shall instruct the Collateral Agent in writing.

PAYMENTS TO SECURED CREDITORS. Please note that all of your creditors are required to receive notice of your bankruptcy. Upon notification of the bankruptcy all of your creditors will stop contacting you and they will stop sending you monthly statements on your accounts. If you have any secured loans or leases on property you wish to retain such as a home or car, you will need to continue making payments on those accounts and contact those lenders directly for their procedures during and after bankruptcy.

PAYMENTS TO SECURED CREDITORS. The Issuer hereby covenants to pay to the Note Trustee all amounts due to the Secured Creditors of a Series in accordance with the order of priority of payments prior to and post enforcement of the Security in respect of that Series as set out in the relevant Note Trust Deed Supplement, in the paragraph headed Application of Proceeds Upon Enforcement in Condition 5 of the Conditions and Clause 12 (Application of Moneys) and any other amounts payable by the Issuer hereunder which the Note Trustee determines in its sole discretion are referable or allocable to a Series (the "SECURED OBLIGATIONS") PROVIDED, HOWEVER, that payment of any sum due to a Secured Creditor of such Series made to such Secured Creditor shall, to that extent, satisfy such obligation. This covenant shall only have effect each time obligations are owed to Secured Creditors when the Note Trustee shall hold the benefit of this covenant in relation to each Series on trust for itself and each other Secured Creditor of such Series according to its and their respective interests. For the avoidance of doubt, nothing in this Note Trust Deed shall prevent the Issuer from creating security pursuant to a Note Trust Deed Supplement over specific assets in relation to a Series in favour of a specific sub-group of Secured Creditors or in respect of Secured Obligations in relation to such Series. Subject as provided in the relevant Note Trust Deed Supplement, the provisions of this Note Trust Deed shall, where the context permits, apply to any such Security mutatis mutandis as if it were Secured Property created in respect of Secured Obligations owed to Secured Creditors hereunder.