Reserve Account Draw Amount. On or before two Business Days before a Payment Date, the Servicer will calculate the Reserve Account Draw Amount for the Payment Date and will direct the Indenture Trustee to withdraw from the Reserve Account and deposit the Reserve Account Draw Amount into the Collection Account on or before the Payment Date.
Appears in 65 contracts
Sources: Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2025-B), Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2025-B), Sale and Servicing Agreement (Ford Credit Auto Owner Trust 2025-A)
Reserve Account Draw Amount. On or before two (2) Business Days before a Payment Date, the Servicer will calculate the Reserve Account Draw Amount for the Payment Date and will direct the Indenture Trustee Note Paying Agent to withdraw from the Reserve Account and deposit the Reserve Account Draw Amount into the Collection Distribution Account on or before the Payment Date (x) the Reserve Account Draw Amount and (y) any amount in excess of the Required Reserve Amount for such Payment Date, after giving effect to the withdrawal of the Reserve Account Draw Amount with respect to such Payment Date.
Appears in 56 contracts
Sources: Indenture (Verizon Master Trust), Indenture (Verizon Master Trust), Indenture Agreement (Verizon Master Trust)
Reserve Account Draw Amount. On or before At least two Business Days before a each Payment Date, the Servicer will calculate the Reserve Account Draw Amount for the Payment Date and will direct the Indenture Trustee to withdraw the amount, if any, from the Reserve Account and deposit it in the Reserve Account Draw Amount into the Exchange Note Collection Account on or before the Payment DateAccount.
Appears in 42 contracts
Sources: Servicing Supplement (CAB East LLC), Servicing Supplement (CAB East LLC), Servicing Supplement (Ford Credit Auto Lease Trust 2025-B)
Reserve Account Draw Amount. On or before two (2) Business Days before a Payment Date, the Servicer will calculate the Reserve Account Draw Amount for the Payment Date and will direct the Indenture Trustee Note Paying Agent to withdraw from the Reserve Account and deposit the Reserve Account Draw Amount into the Collection Account on or before the Payment Date (x) the Reserve Account Draw Amount and (y) any amount in excess of the Required Reserve Amount for such Payment Date, after giving effect to the withdrawal of the Reserve Account Draw Amount with respect to such Payment Date.
Appears in 21 contracts
Sources: Omnibus Amendment (Verizon Owner Trust 2020-A), Transfer and Servicing Agreement (Verizon Owner Trust 2020-B), Omnibus Amendment (Verizon Owner Trust 2020-C)
Reserve Account Draw Amount. On or before [two (2)] Business Days before a Payment Date, the Servicer will calculate the Reserve Account Draw Amount for the Payment Date and will direct the Indenture Trustee Note Paying Agent to withdraw from the Reserve Account and deposit the Reserve Account Draw Amount into the Collection Account on or before the Payment Date (x) the Reserve Account Draw Amount and (y) any amount in excess of the Required Reserve Amount for such Payment Date, after giving effect to the withdrawal of the Reserve Account Draw Amount with respect to such Payment Date.
Appears in 3 contracts
Sources: Transfer and Servicing Agreement (Verizon ABS LLC), Transfer and Servicing Agreement (Verizon ABS LLC), Transfer and Servicing Agreement (Verizon ABS LLC)