Common use of Stated Maturity or Payment in Full Clause in Contracts

Stated Maturity or Payment in Full. On the Stated Maturity, the Indenture Trustee shall withdraw all amounts on deposit in the Reserve Account and shall deposit such amounts to the Collection Account. If, on any Determination Date, the amounts on deposit in the Reserve Account is equal to or greater than the Outstanding Note Balance, all accrued and unpaid interest on the Notes, and any amounts due to the Indenture Trustee, the Servicer, the Backup Servicer and the Custodian pursuant to the Transaction Documents, the Indenture Trustee shall, based on the Monthly Servicer Report, withdraw all amounts on deposit in the Reserve Account and shall deposit such amounts to the Collection Account for distribution on the related Payment Date.

Stated Maturity or Payment in Full. On the Stated Maturity, the Indenture Trustee shall withdraw all amounts on deposit in the Reserve Account and shall deposit such amounts to the Collection Account. If, on any Determination Date, the amounts on deposit in the Reserve Account is equal to or greater than the Aggregate Outstanding Note Balance, all accrued and unpaid interest on the Notes, and any amounts due to the Indenture Trustee, the Servicer, the Backup Servicer and the Custodian pursuant to the Transaction Documents, the Indenture Trustee shall, based on the Monthly Servicer Report, withdraw all amounts on deposit in the Reserve Account and shall deposit such amounts to the Collection Account for distribution on the related Payment Date.