Sale of Certificateholders. Interest Pursuant to Section 2.3 of the Agreement; Payments Pursuant to Section 7.1 of this Series Supplement or Section 2.3 or 12.2(c) of the Agreement. (a) The amount to be paid by the Transferor to the Collection Account with respect to Series 2003-2 in connection with a purchase of the Certificateholders' Interest pursuant to Section 2.3 of the Agreement shall equal the Reassignment Amount for the Payment Date on which such repurchase occurs. (b) With respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 7.1 or 8.1 of this Series Supplement or Section 2.3 of the Agreement or any Termination Proceeds deposited into the Collection Account pursuant to Section 12.2(c) of the Agreement, the Trustee shall, not later than 12:00 noon, New York time, on the Payment Date on which such amounts are deposited (or, if such date is not a Payment Date, on the immediately following Payment Date) (in the priority set forth below): (i) first, deposit an amount equal to the Invested Amount on such Payment Date into the Principal Funding Account, (ii) second, deposit an amount equal to the amount payable on such Payment Date pursuant to Section 4.7(a)(i) into the Interest Funding Account and (iii) third, pay the remainder of any Termination Proceeds to the Transferor; provided, however, that the sum of the amounts allocated pursuant to clauses (i) through (iii) shall not exceed the Reassignment Amount for Series 2003-2. (c) Notwithstanding anything to the contrary in this Series Supplement or the Agreement, any Termination Proceeds deposited in the Principal Funding Account and the Interest Funding Account pursuant to Section 8.1 of this Series Supplement and all other amounts on deposit therein on the applicable Payment Date shall be paid in full to the Series 2003-2 Certificateholders on such date in the following order of priority: (i) first to Class A Certificateholders, in an amount equal to the sum of (x) the Class A Monthly Interest for the current Payment Date and, without duplication, any unpaid Class A Monthly Interest for any previous Payment Date, (y) to the extent permitted by applicable law, any Class A Additional Interest for the current Payment Date and, without duplication, any unpaid Class A Additional Interest for any previous Payment Date, and (z) the Class A Invested Amount; (ii) second to Class B Certificateholders, in an amount equal to the sum of (x) the Class B Monthly Interest for the current Payment Date and, without duplication, any unpaid Class B Monthly Interest for any previous Payment Date, (y) to the extent permitted by applicable law, any Class B Additional Interest for the current Payment Date and, without duplication, any unpaid Class B Additional Interest for any previous Payment Date, and (z) the Class B Invested Amount; and (iii) third to Class C Certificateholders, in an amount equal to the sum of (x) the Class C Monthly Interest for the current Payment Date and, without duplication, any unpaid Class C Monthly Interest for any previous Payment Date, (y) to the extent permitted by applicable law, any Class C Additional Interest for the current Payment Date and, without duplication, any unpaid Class C Additional Interest for any previous Payment Date and (z) the Class C Invested Amount. Any remaining funds shall be released to the Transferor. Any payment made pursuant to paragraph (b) above and this paragraph (c) shall be deemed to be a final payment pursuant to Section 12.2 of the Agreement with respect to Series 2003-2.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (CDF Financing LLC)
Sale of Certificateholders. Interest Pursuant to Section 2.3 2.03 of the Agreement; Payments Distributions Pursuant to Section 7.1 7.01 of this Series Supplement or Section 2.3 2.03 or 12.2(c12.02(c) of the Agreement.
(a) The amount to be paid by the Transferor seller to the Collection Account with respect to Series 20032000-2 B in connection with a purchase of the Series 2000-B Certificateholders' Interest pursuant to Section 2.3 2.03 of the Agreement shall equal the Reassignment Amount for the Payment Distribution Date on which such repurchase occurs.
(b) With respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 7.1 or 8.1 of this Series Supplement or Section 2.3 2.03 of the Agreement or Agreement, the Trustee shall, not later than 12:00 noon, New York City time, on the Distribution Date on which such amounts are deposited (or, if such date is not a Distribution Date, on the immediately following Distribution Date) (in the priority set forth below): (x) deposit the Invested Amount on such date into the Principal Funding Account and (y) deposit the amount of accrued and unpaid interest on the unpaid balance of the Series 2000-B Certificates, plus the amount of Additional Interest, if any, for such Distribution Date plus the amount of any Additional Interest previously due but not paid to Series 2000-B Certificateholders on a prior Distribution Date, plus the amount of any Carry-over Amount for such Distribution Date and any Carry-over Amount previously due but not paid to Series 2000-B Certificateholders on a prior Distribution Date, plus the amount of any Additional Carry-over Amount for such Distribution Date, plus the amount of any Additional Carry-over Amount previously due but not paid to Series 2000-B Certificateholders on any prior Distribution Date, up to the Reassignment Amount for Series 2000-B.
(c) With respect to any Termination Proceeds deposited into the Collection Account pursuant to Section 12.2(c12.02(c) of the Agreement, the Trustee shall, not later than 12:00 noon, New York City time, on the Payment Distribution Date on which such amounts are deposited (or, if such date is not a Payment Distribution Date, on the immediately following Payment Distribution Date) (in the priority set forth below): (i) first, (x) deposit an amount equal to the Invested Amount on such Payment Date date into the Principal Funding AccountAccount and (y) deposit the amount of accrued and unpaid interest on the unpaid balance of the Series 2000-B Certificates, plus the amount of Additional Interest, if any, for such Distribution Date, plus the amount of any Additional Interest previously due but not paid to Series 2000-B Certificateholders on a prior Distribution Date, plus the amount of any Carry-over Amount for such Distribution Date, plus the amount of any Carry-over Amount previously due but not paid to Series 2000-B Certificateholders on any prior Distribution Date, plus the amount of any Additional Carry-over Amount for such Distribution Date, plus the amount of any Additional Carry-over Amount previously due but not paid to Series 2000-B Certificateholders on a prior Distribution Date, up to the Reassignment Amount and (ii) second, deposit an amount equal to the amount payable on such Payment Date pursuant to Section 4.7(a)(i) into the Interest Funding Account and (iii) third, pay the remainder of any Termination Proceeds to the Transferor; provided, however, that the sum of the amounts allocated pursuant to clauses (i) through (iii) shall not exceed the Reassignment Amount for Series 2003-2Seller.
(c) Notwithstanding anything to the contrary in this Series Supplement or the Agreement, any Termination Proceeds deposited in the Principal Funding Account and the Interest Funding Account pursuant to Section 8.1 of this Series Supplement and all other amounts on deposit therein on the applicable Payment Date shall be paid in full to the Series 2003-2 Certificateholders on such date in the following order of priority:
(i) first to Class A Certificateholders, in an amount equal to the sum of (x) the Class A Monthly Interest for the current Payment Date and, without duplication, any unpaid Class A Monthly Interest for any previous Payment Date, (y) to the extent permitted by applicable law, any Class A Additional Interest for the current Payment Date and, without duplication, any unpaid Class A Additional Interest for any previous Payment Date, and (z) the Class A Invested Amount;
(ii) second to Class B Certificateholders, in an amount equal to the sum of (x) the Class B Monthly Interest for the current Payment Date and, without duplication, any unpaid Class B Monthly Interest for any previous Payment Date, (y) to the extent permitted by applicable law, any Class B Additional Interest for the current Payment Date and, without duplication, any unpaid Class B Additional Interest for any previous Payment Date, and (z) the Class B Invested Amount; and
(iii) third to Class C Certificateholders, in an amount equal to the sum of (x) the Class C Monthly Interest for the current Payment Date and, without duplication, any unpaid Class C Monthly Interest for any previous Payment Date, (y) to the extent permitted by applicable law, any Class C Additional Interest for the current Payment Date and, without duplication, any unpaid Class C Additional Interest for any previous Payment Date and (z) the Class C Invested Amount. Any remaining funds shall be released to the Transferor. Any payment made pursuant to paragraph (b) above and this paragraph (c) shall be deemed to be a final payment pursuant to Section 12.2 of the Agreement with respect to Series 2003-2.
Appears in 1 contract
Sources: Series 2000 B Supplement (Carco Auto Loan Master Trust)
Sale of Certificateholders. Interest Pursuant to Section 2.3 2.03 of the Agreement; Payments Distributions Pursuant to Section 7.1 7.01 of this Series Supplement or Section 2.3 2.03 or 12.2(c12.02(c) of the Agreement.
(a) The amount to be paid by the Transferor Seller to the Collection Account with respect to Series 20032002-2 CC in connection with a purchase of the Series 2002-CC Certificateholders' Interest pursuant to Section 2.3 2.03 of the Agreement shall equal the Reassignment Amount for the Payment Distribution Date on which such repurchase occurs.
(b) With respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 7.1 or 8.1 of this Series Supplement or Section 2.3 2.03 of the Agreement or Agreement, the Trustee shall, not later than 12:00 noon, New York City time, on the Distribution Date on which such amounts are deposited (or, if such date is not a Distribution Date, on the immediately following Distribution Date) distribute the following amounts to the Indenture Trustee for application under the Indenture Supplements: (x) the Invested Amount and (y) the amount of accrued and unpaid interest on the unpaid balance of the Notes of all series.
(c) With respect to any Termination Proceeds deposited into the Collection Account pursuant to Section 12.2(c12.02(c) of the Agreement, the Trustee shall, not later than 12:00 noon, New York City time, on the Payment Distribution Date on which such amounts are deposited (or, if such date is not a Payment Distribution Date, on the immediately following Payment Distribution Date) (in the priority set forth below): (i) first, deposit an amount equal to the Invested Amount on pay such Payment Date into the Principal Funding Account, (ii) second, deposit an amount equal to the amount payable on such Payment Date pursuant to Section 4.7(a)(i) into the Interest Funding Account and (iii) third, pay the remainder of any Termination Proceeds to the Transferor; provided, however, that Indenture Trustee for application under the sum of the amounts allocated pursuant Indenture Supplements.
(d) With respect to clauses (i) through (iii) shall not exceed the Reassignment Amount deposited into the Collection Account pursuant to Section 7.01 of this Series Supplement, the Trustee shall, not later than 12:00 noon, New York City time, on the Distribution Date on which such amounts are deposited pay such Termination Proceeds to the Indenture Trustee for Series 2003-2application under the Indenture Supplements.
(ce) Notwithstanding anything to the contrary in this Series Supplement or the Agreement, any Termination Proceeds deposited in the Principal Funding Account and the Interest Funding Account entire amount distributed pursuant to Section 8.1 of this Series Supplement 7.01 or 8.01 and all other amounts on deposit therein on the applicable Payment Date shall be paid in full distributed to the Series 20032002-2 CC Certificateholders on such date in the following order of priority:
(i) first to Class A Certificateholders, in an amount equal to the sum of (x) the Class A Monthly Interest for the current Payment Date and, without duplication, any unpaid Class A Monthly Interest for any previous Payment Date, (y) to the extent permitted by applicable law, any Class A Additional Interest for the current Payment Date and, without duplication, any unpaid Class A Additional Interest for any previous Payment Date, and (z) the Class A Invested Amount;
(ii) second to Class B Certificateholders, in an amount equal to the sum of (x) the Class B Monthly Interest for the current Payment Date and, without duplication, any unpaid Class B Monthly Interest for any previous Payment Date, (y) to the extent permitted by applicable law, any Class B Additional Interest for the current Payment Date and, without duplication, any unpaid Class B Additional Interest for any previous Payment Date, and (z) the Class B Invested Amount; and
(iii) third to Class C Certificateholders, in an amount equal to the sum of (x) the Class C Monthly Interest for the current Payment Date and, without duplication, any unpaid Class C Monthly Interest for any previous Payment Date, (y) to the extent permitted by applicable law, any Class C Additional Interest for the current Payment Date and, without duplication, any unpaid Class C Additional Interest for any previous Payment Date and (z) the Class C Invested Amount. Any remaining funds shall be released to the Transferor. Any payment made pursuant to paragraph (b) above and this paragraph (c) shall be deemed to be a final payment distribution pursuant to Section 12.2 12.02 of the Agreement with respect to the Series 20032002-2CC Certificates.
Appears in 1 contract
Sources: Series 2002 Cc Supplement (Daimlerchrysler Wholesale Receivables LLC)
Sale of Certificateholders. Interest Pursuant to Section 2.3 of the Agreement; Payments Distributions Pursuant to Section 7.1 of this Series Supplement or Section 2.3 or 12.2(c) of the Agreement.
(a) The amount to be paid by the Transferor Seller to the Collection Account with respect to Series 20032000-2 3 in connection with a purchase of the Certificateholders' Interest pursuant to Section 2.3 of the Agreement shall equal the Reassignment Amount for the Payment Distribution Date on which such repurchase occurs.
(b) With respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 7.1 or 8.1 of this Series Supplement or Section 2.3 of the Agreement or any Termination Proceeds deposited into the Collection Account pursuant to Section 12.2(c) of the Agreement, the Trustee shall, not later than 12:00 noon, New York time, on the Payment Distribution Date on which such amounts are deposited (or, if such date is not a Payment Distribution Date, on the immediately following Payment Distribution Date) (in the priority set forth below): (i) first, deposit an amount equal to the Invested Amount on such Payment Distribution Date into the Principal Funding Account, (ii) second, deposit an amount equal to the amount payable distributable on such Payment Distribution Date pursuant to Section 4.7(a)(i) into the Interest Funding Account and (iii) third, pay the remainder of any Termination Proceeds to the TransferorSeller; provided, however, that the sum of the amounts allocated pursuant to clauses (i) through (iii) shall not exceed the Reassignment Amount for Series 20032000-23.
(c) Notwithstanding anything to the contrary in this Series Supplement or the Agreement, any Termination Proceeds deposited in the Principal Funding Account and the Interest Funding Account pursuant to Section 8.1 of this Series Supplement and all other amounts on deposit therein on the applicable Payment Distribution Date shall be paid distributed in full to the Series 20032000-2 3 Certificateholders on such date in the following order of priority:
(i) first to Class A Certificateholders, in an amount equal to the sum of (x) the Class A Monthly Interest for the current Payment Distribution Date and, without duplication, any unpaid Class A Monthly Interest for any previous Payment Distribution Date, (y) to the extent permitted by applicable law, any Class A Additional Interest for the current Payment Distribution Date and, without duplication, any unpaid Class A Additional Interest for any previous Payment Distribution Date, and (z) the Class A Invested Amount;
(ii) second to Class B Certificateholders, in an amount equal to the sum of (x) the Class B Monthly Interest for the current Payment Distribution Date and, without duplication, any unpaid Class B Monthly Interest for any previous Payment Distribution Date, (y) to the extent permitted by applicable law, any Class B Additional Interest for the current Payment Distribution Date and, without duplication, any unpaid Class B Additional Interest for any previous Payment Distribution Date, and (z) the Class B Invested Amount; and
(iii) third to Class C Certificateholders, in an amount equal to the sum of (x) the Class C Monthly Interest for the current Payment Distribution Date and, without duplication, any unpaid Class C Monthly Interest for any previous Payment Distribution Date, (y) to the extent permitted by applicable law, any Class C Additional Interest for the current Payment Distribution Date and, without duplication, any unpaid Class C Additional Interest for any previous Payment Distribution Date and (z) the Class C Invested Amount. No Class A Carry-over Amount, Class B Carry-over Amount, Class C Carry-over Amount, Class A Carry-over Amount Additional Interest, Class B Carry-over Amount Additional Interest or Class C Carry-over Amount Additional Interest will be paid as part of this distribution. Any remaining funds shall be released paid to the TransferorSeller. Any payment distribution made pursuant to paragraph (b) above and this paragraph (c) shall be deemed to be a final payment distribution pursuant to Section 12.2 of the Agreement with respect to Series 20032000-23.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Distribution Financial Services Floorplan Master Trust)
Sale of Certificateholders. Interest Pursuant to Section 2.3 2.03 of the Agreement; Payments Distributions Pursuant to Section 7.1 7.01 of this the Series Supplement or Section 2.3 2.03 or 12.2(c12.02(c) of the Agreement.
(a) The amount to be paid by the Transferor Seller to the Collection Account with respect to Series 20031996-2 1 in connection with a purchase of the Certificateholders' Interest pursuant to Section 2.3 2.03 of the Agreement shall equal the Reassignment Amount for the Payment Distribution Date on which such repurchase occurs.
(b) With respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 7.1 7.01 or 8.1 8.01 of this Series Supplement or Section 2.3 2.03 of the Agreement or any Termination Proceeds deposited into the Collection Account pursuant to Section 12.2(c12.02(c) of the Agreement, the Trustee shall, not later than 12:00 noon, New York City time, on the Payment Distribution Date on which such amounts are deposited (or, if such date is not a Payment Distribution Date, on the immediately following Payment Distribution Date) (in the priority set forth below): (i) first, (x) deposit an amount equal to the Invested Amount on such Payment Date date into the Principal Funding Account, Account and (iiy) second, deposit an amount equal to the amount payable of accrued and unpaid interest on the unpaid balance of the Certificates, plus the amount of Additional Interest, if any, for such Payment Distribution Date pursuant to Section 4.7(a)(i) and any Additional Interest or Asset Composition Premium previously due but not deposited into the Interest Funding Account or paid to Series 1996-1 Certificateholders on any prior Distribution Date, into the Interest Funding Account, up to the Reassignment Amount for Series 1996-1 and (iiiii) thirdsecond, pay the remainder of any Termination Proceeds to the Transferor; provided, however, that the sum of the amounts allocated pursuant to clauses (i) through (iii) shall not exceed the Reassignment Amount for Series 2003-2Seller.
(c) Notwithstanding anything to the contrary in this Series Supplement or the Agreement, any Termination Proceeds the entire amount deposited in the Principal Funding Account and the Interest Funding Account pursuant to Section 8.1 of this Series Supplement 7.01 or 8.01 and all other amounts on deposit therein on the applicable Payment Date shall be paid distributed in full to the Series 20031996-2 1 Certificateholders on such date in the following order of priority:
(i) first to Class A Certificateholders, in an amount equal to the sum of (x) the Class A Monthly Interest for the current Payment Date and, without duplication, and any unpaid Class A Monthly Interest for any previous Payment Date, (y) to the extent permitted by applicable law, any Class A Additional Interest for the current Payment Date and, without duplication, any unpaid Class A Additional Interest for any previous Payment Date, and (z) the Class A Invested Amount;
(ii) second to Class B Certificateholders, in an amount equal to the sum of (x) the Class B Monthly Interest for the current Payment Date and, without duplication, any unpaid Class B Monthly Interest for any previous Payment Date, (y) to the extent permitted by applicable law, any Class B Additional Interest for the current Payment Date and, without duplication, any unpaid Class B Additional Interest for any previous Payment Date, and (z) the Class B Invested Amount; and
(iii) third to Class C Certificateholders, in an amount equal to the sum of (x) the Class C Monthly Interest for the current Payment Date and, without duplication, any unpaid Class C Monthly Interest for any previous Payment Date, (y) to the extent permitted by applicable law, any Class C Additional Interest for the current Payment Date and, without duplication, any unpaid Class C Additional Interest for any previous Payment Date and (z) the Class C Invested Amount. Any remaining funds shall be released to the Transferor. Any payment distribution made pursuant to paragraph (b) above and this paragraph (c) shall be deemed to be a final payment pursuant to Section 12.2 of the Agreement with respect to Series 2003-2.final
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Ford Credit Auto Receivables Corp)
Sale of Certificateholders. Interest Pursuant to Section 2.3 2.03 of the Agreement; Payments Distributions Pursuant to Section 7.1 7.01 of this Series Supplement or Section 2.3 2.03 or 12.2(c12.02(c) of the Agreement.
(a) The amount to be paid by the Transferor Seller to the Collection Account with respect to Series 20032001-2 A in connection with a purchase of the Series 2001-A Certificateholders' Interest pursuant to Section 2.3 2.03 of the Agreement shall equal the Reassignment Amount for the Payment Distribution Date on which such repurchase occurs.
(b) With respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 7.1 or 8.1 of this Series Supplement or Section 2.3 2.03 of the Agreement or Agreement, the Trustee shall, not later than 12:00 noon, New York City time, on the Distribution Date on which such amounts are deposited (or, if such date is not a Distribution Date, on the immediately following Distribution Date) (in the priority set forth below): (x) deposit the Invested Amount on such date into the Principal Funding Account and (y) deposit the amount of accrued and unpaid interest on the unpaid balance of the Series 2001-A Certificates, plus the amount of Additional Interest, if any, for such Distribution Date plus the amount of any Additional Interest previously due but not paid to Series 2001-A Certificateholders on a prior Distribution Date, plus the amount of any Carry-over Amount for such Distribution Date and any Carry-over Amount previously due but not paid to Series 2001-A Certificateholders on a prior Distribution Date, plus the amount of any Additional Carry-over Amount for such Distribution Date, plus the amount of any Additional Carry-over Amount previously due but not paid to Series 2001-A Certificateholders on any prior Distribution Date, up to the Reassignment Amount for Series 2001-A.
(c) With respect to any Termination Proceeds deposited into the Collection Account pursuant to Section 12.2(c12.02(c) of the Agreement, the Trustee shall, not later than 12:00 noon, New York City time, on the Payment Distribution Date on which such amounts are deposited (or, if such date is not a Payment Distribution Date, on the immediately following Payment Distribution Date) (in the priority set forth below): (i) first, (x) deposit an amount equal to the Invested Amount on such Payment Date date into the Principal Funding AccountAccount and (y) deposit the amount of accrued and unpaid interest on the unpaid balance of the Series 2001-A Certificates, plus the amount of Additional Interest, if any, for such Distribution Date, plus the amount of any Additional Interest previously due but not paid to Series 2001-A Certificateholders on a prior Distribution Date, plus the amount of any Carry-over Amount for such Distribution Date, plus the amount of any Carry-over Amount previously due but not paid to Series 2001-A Certificateholders on any prior Distribution Date, plus the amount of any Additional Carry-over Amount for such Distribution Date, plus the amount of any Additional Carry-over Amount previously due but not paid to Series 2001-A Certificateholders on a prior Distribution Date, up to the Reassignment Amount and (ii) second, deposit an amount equal to the amount payable on such Payment Date pursuant to Section 4.7(a)(i) into the Interest Funding Account and (iii) third, pay the remainder of any Termination Proceeds to the Transferor; provided, however, that the sum of the amounts allocated pursuant Seller.
(d) With respect to clauses (i) through (iii) shall not exceed the Reassignment Amount deposited into the Collection Account pursuant to Section 7.01 of this Series Supplement, the Trustee shall, not later than 12:00 noon, New York City time, on the Distribution Date on which such amounts are deposited (in the priority set forth below): (x) deposit the Invested Amount on such date into the Principal Funding Account and (y) deposit the amount of accrued and unpaid interest on the unpaid balance of the Series 2001-A Certificates, plus the amount of Additional Interest, if any, for such Distribution Date, plus the amount of any Additional Interest previously due but not paid to Series 20032001-2A Certificateholders on a prior Distribution Date, plus the amount of any Carry-over Amount for such Distribution Date, plus the amount of any Carry-over Amount previously due but not paid to Series 2001-A Certificateholders on any prior Distribution Date, plus the amount of any Additional Carry-over Amount for such Distribution Date, plus the amount of any Additional Carry-over Amount previously due but not paid to Series 2001-A Certificateholders on a prior Distribution Date, up to the Reassignment Amount.
(ce) Notwithstanding anything to the contrary in this Series Supplement or the Agreement, any Termination Proceeds the entire amount deposited in the Principal Funding Account and the Interest Funding Account pursuant to Section 8.1 of this Series Supplement 7.01 or 8.01 and all other amounts on deposit therein on the applicable Payment Date shall be paid distributed in full to the Series 20032001-2 A Certificateholders on such date in the following order of priority:
(i) first to Class A Certificateholders, in an amount equal to the sum of (x) the Class A Monthly Interest for the current Payment Date and, without duplication, and any unpaid Class A Monthly Interest for any previous Payment Date, (y) to the extent permitted by applicable law, any Class A Additional Interest for the current Payment Date and, without duplication, any unpaid Class A Additional Interest for any previous Payment Date, and (z) the Class A Invested Amount;
(ii) second to Class B Certificateholders, in an amount equal to the sum of (x) the Class B Monthly Interest for the current Payment Date and, without duplication, any unpaid Class B Monthly Interest for any previous Payment Date, (y) to the extent permitted by applicable law, any Class B Additional Interest for the current Payment Date and, without duplication, any unpaid Class B Additional Interest for any previous Payment Date, and (z) the Class B Invested Amount; and
(iii) third to Class C Certificateholders, in an amount equal to the sum of (x) the Class C Monthly Interest for the current Payment Date and, without duplication, any unpaid Class C Monthly Interest for any previous Payment Date, (y) to the extent permitted by applicable law, any Class C Additional Interest for the current Payment Date and, without duplication, any unpaid Class C Additional Interest for any previous Payment Date and (z) the Class C Invested Amount. Any remaining funds shall be released to the Transferor. Any payment distribution made pursuant to paragraph (bc) above and this paragraph (c) shall be deemed to be a final payment distribution pursuant to Section 12.2 12.02 of the Agreement with respect to the Series 20032001-2A Certificates.
Appears in 1 contract
Sources: Series 2001 a Supplement (Daimlerchrysler Wholesale Receivables LLC)
Sale of Certificateholders. Interest Pursuant to Section 2.3 2.03 of the Agreement; Payments Distributions Pursuant to Section 7.1 7.01 of this Series Supplement or Section 2.3 2.03 or 12.2(c12.02(c) of the Agreement.
(a) The amount to be paid by the Transferor Seller to the Collection Account with respect to Series 20032002-2 CC in connection with a purchase of the Series 2002-CC Certificateholders' Interest pursuant to Section 2.3 2.03 of the Agreement shall equal the Reassignment Amount for the Payment Distribution Date on which such repurchase occurs.
(b) With respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 7.1 or 8.1 of this Series Supplement or Section 2.3 2.03 of the Agreement or Agreement, the Trustee shall, not later than 12:00 noon, New York City time, on the Distribution Date on which such amounts are deposited (or, if such date is not a Distribution Date, on the immediately following Distribution Date) distribute the following amounts to the Indenture Trustee for application under the Indenture Supplements: (x) the Invested Amount and the amount on deposit in the Excess Funding Account and (y) the amount of accrued and unpaid interest on the unpaid balance of the Notes of all series.
(c) With respect to any Termination Proceeds deposited into the Collection Account pursuant to Section 12.2(c12.02(c) of the Agreement, the Trustee shall, not later than 12:00 noon, New York City time, on the Payment Distribution Date on which such amounts are deposited (or, if such date is not a Payment Distribution Date, on the immediately following Payment Distribution Date) (in the priority set forth below): (i) first, deposit an amount equal to the Invested Amount on pay such Payment Date into the Principal Funding Account, (ii) second, deposit an amount equal to the amount payable on such Payment Date pursuant to Section 4.7(a)(i) into the Interest Funding Account and (iii) third, pay the remainder of any Termination Proceeds to the Transferor; provided, however, that Indenture Trustee for application under the sum of the amounts allocated pursuant to clauses (i) through (iii) shall not exceed the Reassignment Amount for Series 2003-2Indenture Supplements.
(cd) [Reserved].
(e) Notwithstanding anything to the contrary in this Series Supplement or the Agreement, any Termination Proceeds deposited in the Principal Funding Account and the Interest Funding Account entire amount distributed pursuant to Section 8.1 of this Series Supplement 8.01 and all other amounts on deposit therein on the applicable Payment Date shall be paid in full distributed to the Series 20032002-2 CC Certificateholders on such date in the following order of priority:
(i) first to Class A Certificateholders, in an amount equal to the sum of (x) the Class A Monthly Interest for the current Payment Date and, without duplication, any unpaid Class A Monthly Interest for any previous Payment Date, (y) to the extent permitted by applicable law, any Class A Additional Interest for the current Payment Date and, without duplication, any unpaid Class A Additional Interest for any previous Payment Date, and (z) the Class A Invested Amount;
(ii) second to Class B Certificateholders, in an amount equal to the sum of (x) the Class B Monthly Interest for the current Payment Date and, without duplication, any unpaid Class B Monthly Interest for any previous Payment Date, (y) to the extent permitted by applicable law, any Class B Additional Interest for the current Payment Date and, without duplication, any unpaid Class B Additional Interest for any previous Payment Date, and (z) the Class B Invested Amount; and
(iii) third to Class C Certificateholders, in an amount equal to the sum of (x) the Class C Monthly Interest for the current Payment Date and, without duplication, any unpaid Class C Monthly Interest for any previous Payment Date, (y) to the extent permitted by applicable law, any Class C Additional Interest for the current Payment Date and, without duplication, any unpaid Class C Additional Interest for any previous Payment Date and (z) the Class C Invested Amount. Any remaining funds shall be released to the Transferor. Any payment made pursuant to paragraph (b) above and this paragraph (c) shall be deemed to be a final payment distribution pursuant to Section 12.2 12.02 of the Agreement with respect to the Series 20032002-2CC Certificates.
Appears in 1 contract
Sources: Series Supplement Agreement (Carco Auto Loan Master Trust)
Sale of Certificateholders. Interest Pursuant to Section 2.3 of the Agreement; Payments Distributions Pursuant to Section 7.1 of this Series Supplement or Section 2.3 or 12.2(c) of the Agreement.
(a) The amount to be paid by the Transferor Seller to the Collection Account with respect to Series 2003-2 [ ] in connection with a purchase of the Certificateholders' Interest pursuant to Section 2.3 of the Agreement shall equal the Reassignment Amount for the Payment Distribution Date on which such repurchase occurs.
(b) With respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 7.1 or 8.1 of this Series Supplement or Section 2.3 of the Agreement or any Termination Proceeds deposited into the Collection Account pursuant to Section 12.2(c) of the Agreement, the Trustee shall, not later than 12:00 noon, New York time, on the Payment Distribution Date on which such amounts are deposited (or, if such date is not a Payment Distribution Date, on the immediately following Payment Distribution Date) (in the priority set forth below): (i) first, deposit an amount equal to the Invested Amount on such Payment Distribution Date into the Principal Funding Account, (ii) second, deposit an amount equal to the amount payable distributable on such Payment Distribution Date pursuant to Section 4.7(a)(i) into the Interest Funding Account and (iii) third, pay the remainder of any Termination Proceeds to the TransferorSeller; provided, however, that the sum of the amounts allocated pursuant to clauses (i) through (iii) shall not exceed the Reassignment Amount for Series 2003-2[ ].
(c) Notwithstanding anything to the contrary in this Series Supplement or the Agreement, any Termination Proceeds deposited in the Principal Funding Account and the Interest Funding Account pursuant to Section 8.1 of this Series Supplement and all other amounts on deposit therein on the applicable Payment Distribution Date shall be paid distributed in full to the Series 2003-2 [ ] Certificateholders on such date in the following order of priority:
(i) first to Class A Certificateholders, in an amount equal to the sum of (x) the Class A Monthly Interest for the current Payment Distribution Date and, without duplication, any unpaid Class A Monthly Interest for any previous Payment Distribution Date, (y) to the extent permitted by applicable law, any Class A Additional Interest for the current Payment Distribution Date and, without duplication, any unpaid Class A Additional Interest for any previous Payment Distribution Date, and (z) the Class A Invested Amount;
(ii) second to Class B Certificateholders, in an amount equal to the sum of (x) the Class B Monthly Interest for the current Payment Distribution Date and, without duplication, any unpaid Class B Monthly Interest for any previous Payment Distribution Date, (y) to the extent permitted by applicable law, any Class B Additional Interest for the current Payment Distribution Date and, without duplication, any unpaid Class B Additional Interest for any previous Payment Distribution Date, and (z) the Class B Invested Amount; and
(iii) third to Class C Certificateholders, in an amount equal to the sum of (x) the Class C Monthly Interest for the current Payment Distribution Date and, without duplication, any unpaid Class C Monthly Interest for any previous Payment Distribution Date, (y) to the extent permitted by applicable law, any Class C Additional Interest for the current Payment Distribution Date and, without duplication, any unpaid Class C Additional Interest for any previous Payment Distribution Date and (z) the Class C Invested Amount. No Class A Carry-over Amount, Class B Carry-over Amount, Class C Carry-over Amount, Class A Carry-over Amount Additional Interest, Class B Carry-over Amount Additional Interest or Class C Carry-over Amount Additional Interest will be paid as part of this distribution. Any remaining funds shall be released paid to the TransferorSeller. Any payment distribution made pursuant to paragraph (b) above and this paragraph (c) shall be deemed to be a final payment distribution pursuant to Section 12.2 of the Agreement with respect to Series 2003-2[ ].
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Distribution Financial Services Floorplan Master Trust)
Sale of Certificateholders. Interest Pursuant to Section 2.3 2.03 of the Agreement; Payments Distributions Pursuant to Section 7.1 7.01 of this the Series Supplement or Section 2.3 2.03 or 12.2(c12.02(c) of the Agreement.
(a) The amount to be paid by the Transferor Seller to the Collection Account with respect to Series 20031996-2 1 in connection with a purchase of the Certificateholders' Interest pursuant to Section 2.3 2.03 of the Agreement shall equal the Reassignment Amount for the Payment Distribution Date on which such repurchase occurs.
(b) With respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 7.1 7.01 or 8.1 8.01 of this Series Supplement or Section 2.3 2.03 of the Agreement or any Termination Proceeds deposited into the Collection Account pursuant to Section 12.2(c12.02(c) of the Agreement, the Trustee shall, not later than 12:00 noon, New York City time, on the Payment Distribution Date on which such amounts are deposited (or, if such date is not a Payment Distribution Date, on the immediately following Payment Distribution Date) (in the priority set forth below): (i) first, (x) deposit an amount equal to the Invested Amount on such Payment Date date into the Principal Funding Account, Account and (iiy) second, deposit an amount equal to the amount payable of accrued and unpaid interest on the unpaid balance of the Certificates, plus the amount of Additional Interest, if any, for such Payment Distribution Date pursuant to Section 4.7(a)(i) and any Additional Interest or Asset Composition Premium previously due but not deposited into the Interest Funding Account or paid to Series 1996-1 Certificateholders on any prior Distribution Date, into the Interest Funding Account, up to the Reassignment Amount for Series 1996-1 and (iiiii) thirdsecond, pay the remainder of any Termination Proceeds to the Transferor; provided, however, that the sum of the amounts allocated pursuant to clauses (i) through (iii) shall not exceed the Reassignment Amount for Series 2003-2Seller.
(c) Notwithstanding anything to the contrary in this Series Supplement or the Agreement, any Termination Proceeds the entire amount deposited in the Principal Funding Account and the Interest Funding Account pursuant to Section 8.1 of this Series Supplement 7.01 or 8.01 and all other amounts on deposit therein on the applicable Payment Date shall be paid distributed in full to the Series 20031996-2 1 Certificateholders on such date in the following order of priority:
(i) first to Class A Certificateholders, in an amount equal to the sum of (x) the Class A Monthly Interest for the current Payment Date and, without duplication, and any unpaid Class A Monthly Interest for any previous Payment Date, (y) to the extent permitted by applicable law, any Class A Additional Interest for the current Payment Date and, without duplication, any unpaid Class A Additional Interest for any previous Payment Date, and (z) the Class A Invested Amount;
(ii) second to Class B Certificateholders, in an amount equal to the sum of (x) the Class B Monthly Interest for the current Payment Date and, without duplication, any unpaid Class B Monthly Interest for any previous Payment Date, (y) to the extent permitted by applicable law, any Class B Additional Interest for the current Payment Date and, without duplication, any unpaid Class B Additional Interest for any previous Payment Date, and (z) the Class B Invested Amount; and
(iii) third to Class C Certificateholders, in an amount equal to the sum of (x) the Class C Monthly Interest for the current Payment Date and, without duplication, any unpaid Class C Monthly Interest for any previous Payment Date, (y) to the extent permitted by applicable law, any Class C Additional Interest for the current Payment Date and, without duplication, any unpaid Class C Additional Interest for any previous Payment Date and (z) the Class C Invested Amount. Any remaining funds shall be released to the Transferor. Any payment distribution made pursuant to paragraph (b) above and this paragraph (c) shall be deemed to be a final payment distribution pursuant to Section 12.2 12.02 of the Agreement with respect to Series 20031996-21.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Ford Credit Auto Loan Master Trust)