Reassignment Amount; Liquidation Proceeds. If the Sold Receivables are reassigned under Section 2.3(c) or 6.1(b) of the Sale and Servicing Agreements, the Reassignment Amount will be paid to the Series 2019-1 Noteholders on the first Payment Date after the Collection Period in which the reassignment occurs. If the Collateral allocable to Series 2019-1 is liquidated under Section 5.6(c) of the Indenture, the proceeds from the liquidation will be paid to the Series 2019-1 Noteholders on the first Payment Date after the Collection Period in which the liquidation occurs. If the Indenture Trustee has received the Monthly Investor Report by the related Determination Date, the Indenture Trustee will (based on the information in the Monthly Investor Report) make payments or distributions of the Reassignment Amount or the proceeds from any liquidation of Collateral allocable to Series 2019-1 under Section 5.6(c) of the Indenture according to Section 4.2 on the related Payment Date.
Appears in 2 contracts
Sources: Indenture Supplement (Ford Credit Floorplan LLC), Indenture Supplement (Ford Credit Floorplan LLC)
Reassignment Amount; Liquidation Proceeds. If the Sold Receivables are reassigned under Section 2.3(c) or 6.1(b) of the Sale and Servicing Agreements, the Reassignment Amount will be paid to the Series 20192017-1 Noteholders on the first Payment Date after the Collection Period in which the reassignment occurs. If the Collateral allocable to Series 20192017-1 is liquidated under Section 5.6(c) of the Indenture, the proceeds from the liquidation will be paid to the Series 20192017-1 Noteholders on the first Payment Date after the Collection Period in which the liquidation occurs. If the Indenture Trustee has received the Monthly Investor Report by the related Determination Date, the The Indenture Trustee will (based on the information in the most recent Monthly Investor Report) make payments or distributions of the Reassignment Amount or the proceeds from any liquidation of Collateral allocable to Series 20192017-1 under Section 5.6(c) of the Indenture according to Section 4.2 on the related Payment Date.
Appears in 2 contracts
Sources: Indenture Supplement (Ford Credit Floorplan Corp), Indenture Supplement (Ford Credit Floorplan LLC)
Reassignment Amount; Liquidation Proceeds. If the Sold Receivables are reassigned under Section 2.3(c) or 6.1(b) of the Sale and Servicing Agreements, the Reassignment Amount will be paid to the Series 20192016-1 4 Noteholders on the first Payment Date after the Collection Period in which the reassignment occurs. If the Collateral allocable to Series 20192016-1 4 is liquidated under Section 5.6(c) of the Indenture, the proceeds from the liquidation will be paid to the Series 20192016-1 4 Noteholders on the first Payment Date after the Collection Period in which the liquidation occurs. If the Indenture Trustee has received the Monthly Investor Report by the related Determination Date, the The Indenture Trustee will (based on the information in the most recent Monthly Investor Report) make payments or distributions of the Reassignment Amount or the proceeds from any liquidation of Collateral allocable to Series 20192016-1 4 under Section 5.6(c) of the Indenture according to Section 4.2 on the related Payment Date.
Appears in 2 contracts
Sources: Indenture Supplement (Ford Credit Floorplan Corp), Indenture Supplement (Ford Credit Floorplan Corp)
Reassignment Amount; Liquidation Proceeds. If the Sold Receivables are reassigned under Section 2.3(c) or 6.1(b) of the Sale and Servicing Agreements, the Reassignment Amount will be paid to the Series 20192025-1 Noteholders on the first Payment Date after the Collection Period in which the reassignment occurs. If the Collateral allocable to Series 20192025-1 is liquidated under Section 5.6(c) of the Indenture, the proceeds from the liquidation will be paid to the Series 20192025-1 Noteholders on the first Payment Date after the Collection Period in which the liquidation occurs. If the Indenture Trustee has received the Monthly Investor Report by the related Determination Date, the Indenture Trustee will (based on the information in the Monthly Investor Report) make payments or distributions of the Reassignment Amount or the proceeds from any liquidation of Collateral allocable to Series 20192025-1 under Section 5.6(c) of the Indenture according to Section 4.2 on the related Payment Date.
Appears in 2 contracts
Sources: Indenture Supplement (Ford Credit Floorplan LLC), Indenture Supplement (Ford Credit Floorplan LLC)
Reassignment Amount; Liquidation Proceeds. If the Sold Receivables are reassigned under Section 2.3(c) or 6.1(b) of the Sale and Servicing Agreements, the Reassignment Amount will be paid to the Series 20192016-1 3 Noteholders on the first Payment Date after the Collection Period in which the reassignment occurs. If the Collateral allocable to Series 20192016-1 3 is liquidated under Section 5.6(c) of the Indenture, the proceeds from the liquidation will be paid to the Series 20192016-1 3 Noteholders on the first Payment Date after the Collection Period in which the liquidation occurs. If the Indenture Trustee has received the Monthly Investor Report by the related Determination Date, the The Indenture Trustee will (based on the information in the most recent Monthly Investor Report) make payments or distributions of the Reassignment Amount or the proceeds from any liquidation of Collateral allocable to Series 20192016-1 3 under Section 5.6(c) of the Indenture according to Section 4.2 on the related Payment Date.
Appears in 2 contracts
Sources: Indenture Supplement (Ford Credit Floorplan Corp), Indenture Supplement (Ford Credit Floorplan Corp)
Reassignment Amount; Liquidation Proceeds. If the Sold Receivables are reassigned under Section 2.3(c) or 6.1(b) of the Sale and Servicing Agreements, the Reassignment Amount will be paid to the Series 20192016-1 Noteholders on the first Payment Date after the Collection Period in which the reassignment occurs. If the Collateral allocable to Series 20192016-1 is liquidated under Section 5.6(c) of the Indenture, the proceeds from the liquidation will be paid to the Series 20192016-1 Noteholders on the first Payment Date after the Collection Period in which the liquidation occurs. If the Indenture Trustee has received the Monthly Investor Report by the related Determination Date, the The Indenture Trustee will (based on the information in the most recent Monthly Investor Report) make payments or distributions of the Reassignment Amount or the proceeds from any liquidation of Collateral allocable to Series 20192016-1 under Section 5.6(c) of the Indenture according to Section 4.2 on the related Payment Date.
Appears in 2 contracts
Sources: Indenture Supplement (Ford Credit Floorplan Corp), Indenture Supplement (Ford Credit Floorplan Corp)
Reassignment Amount; Liquidation Proceeds. If the Sold Receivables are reassigned under Section 2.3(c) or 6.1(b) of the Sale and Servicing Agreements, the Reassignment Amount will be paid to the Series 20192020-1 Noteholders on the first Payment Date after the Collection Period in which the reassignment occurs. If the Collateral allocable to Series 20192020-1 is liquidated under Section 5.6(c) of the Indenture, the proceeds from the liquidation will be paid to the Series 20192020-1 Noteholders on the first Payment Date after the Collection Period in which the liquidation occurs. If the Indenture Trustee has received the Monthly Investor Report by the related Determination Date, the Indenture Trustee will (based on the information in the Monthly Investor Report) make payments or distributions of the Reassignment Amount or the proceeds from any liquidation of Collateral allocable to Series 20192020-1 under Section 5.6(c) of the Indenture according to Section 4.2 on the related Payment Date.
Appears in 2 contracts
Sources: Indenture Supplement (Ford Credit Floorplan LLC), Indenture Supplement (Ford Credit Floorplan LLC)
Reassignment Amount; Liquidation Proceeds. If the Sold Receivables are reassigned under Section 2.3(c) or 6.1(b) of the Sale and Servicing Agreements, the Reassignment Amount will be paid to the Series 2019-1 20 - Noteholders on the first Payment Date after following the Collection Period in which the reassignment occurs. If the Collateral allocable to Series 2019-1 20 - is liquidated under Section 5.6(c) of the Indenture, the proceeds from the liquidation will be paid to the Series 2019-1 20 - Noteholders on the first Payment Date after following the Collection Period in which the liquidation occurs. If the Indenture Trustee has received the Monthly Investor Report by the related Determination Date, the The Indenture Trustee will (based on the information in the most recent Monthly Investor Report) make payments or distributions of the Reassignment Amount or the proceeds from any liquidation of Collateral allocable to Series 2019-1 20 - under Section 5.6(c) of the Indenture according to Section 4.2 on the related Payment Date.
Appears in 2 contracts
Sources: Indenture Supplement (Ford Credit Floorplan LLC), Indenture Supplement (Ford Credit Floorplan LLC)
Reassignment Amount; Liquidation Proceeds. If the Sold Receivables are reassigned under Section 2.3(c) or 6.1(b) of the Sale and Servicing Agreements, the Reassignment Amount will be paid to the Series 20192016-1 5 Noteholders on the first Payment Date after the Collection Period in which the reassignment occurs. If the Collateral allocable to Series 20192016-1 5 is liquidated under Section 5.6(c) of the Indenture, the proceeds from the liquidation will be paid to the Series 20192016-1 5 Noteholders on the first Payment Date after the Collection Period in which the liquidation occurs. If the Indenture Trustee has received the Monthly Investor Report by the related Determination Date, the The Indenture Trustee will (based on the information in the most recent Monthly Investor Report) make payments or distributions of the Reassignment Amount or the proceeds from any liquidation of Collateral allocable to Series 20192016-1 5 under Section 5.6(c) of the Indenture according to Section 4.2 on the related Payment Date.
Appears in 2 contracts
Sources: Indenture Supplement (Ford Credit Floorplan Corp), Indenture Supplement (Ford Credit Floorplan Corp)