Withdrawals for Discount Notes Sample Clauses

Withdrawals for Discount Notes. On each applicable Principal Payment Date, with respect to each Tranche of Discount Notes, an amount equal to the amount of the accretion of principal of that Tranche of Notes from the prior Principal Payment Date (or, in the case of the first Principal Payment Date, the date of issuance of that Tranche) to but excluding the applicable Principal Payment Date will be withdrawn from that Interest Funding sub-Account and invested in the Invested Amount of any Collateral Certificate in Asset Pool 1 pursuant to Section 3.17.
Sample 1Sample 2Sample 3See All (13)
AutoNDA by SimpleDocs
Withdrawals for Discount Notes. Unless otherwise specified in the applicable Terms Document, on each applicable Monthly Principal Accretion Date, with respect to each Tranche of Discount Notes, an amount equal to the amount of the accretion of principal of that Tranche of Notes from and including the prior Monthly Principal Accretion Date to but excluding the applicable Monthly Principal Accretion Date will be withdrawn from the Interest Funding Subaccount for such Tranche. Such amount shall be paid to the Master Trust Trustee for DCMT for deposit in the Collections Account for DCMT for reinvestment in new receivables (or retention in such Collections Account pending availability of new receivables) or, on the Expected Maturity Date for such Tranche, paid to the Noteholders of such Tranche in respect of the Stated Principal Amount. If and when any Additional Collateral Certificates are added to the Note Issuance Trust, any provisions to allocate such amount to such Additional Collateral Certificates shall be specified in the documents relating to such addition.
Sample 1
Withdrawals for Discount Notes. On each applicable Monthly Principal Date, with respect to each tranche of Discount Notes, an amount equal to the lesser of (i) the amount of the accretion of principal of such tranche of Notes from the prior Monthly Principal Date (or in the case of the first Monthly Principal Date, the date of issuance of such tranche) to the applicable Monthly Principal Date, and (ii) the amount on deposit in the applicable Interest Funding sub-Account will be withdrawn from such Interest Funding sub-Account and invested in the Collateral Certificate pursuant to Section 519(a).
Sample 1

Related to Withdrawals for Discount Notes

  • Discount Notes If this Note is specified on the face hereof as a “Discount Note”:

  • Designation of Additional Amounts to Be Included in the Excess Spread Amount for the DiscoverSeries Notes At any time that any outstanding Series of certificates issued by the Master Trust provides that the Series Principal Collections allocated to such Series will be deposited into the Group Finance Charge Collections Reallocation Account for the Master Trust to the extent necessary for application to cover shortfalls for other Series issued by the Master Trust, an amount equal to (x) all Series Principal Collections allocated to such Series, multiplied by (y) a fraction, the numerator of which is the sum of the Nominal Liquidation Amounts for each outstanding Tranche of the DiscoverSeries Notes (including these notes) and the denominator of which is (i) the Aggregate Investor Interest for the Master Trust minus (ii) the sum of the Series Investor Interests for all such Series that provide that the Series Principal Collections allocated to such Series will be so deposited, is hereby designated to be included in the Excess Spread Amount and shall be treated as Series Finance Charge Amounts for the DiscoverSeries.

  • Investment of Special Payment Moneys Any money received by the Trustee pursuant to Section 4.01(b) representing a Special Payment which is not distributed on the date received shall, to the extent practicable, be invested in Permitted Investments by the Trustee pending distribution of such Special Payment pursuant to Section 4.02. Any investment made pursuant to this Section 4.04 shall be in such Permitted Investments having maturities not later than the date that such moneys are required to be used to make the payment required under Section 4.02 on the applicable Special Distribution Date and the Trustee shall hold any such Permitted Investments until maturity. The Trustee shall have no liability with respect to any investment made pursuant to this Section 4.04, other than by reason of the willful misconduct or negligence of the Trustee. All income and earnings from such investments shall be distributed on such Special Distribution Date as part of such Special Payment.

  • Repayment of Notes Each of the parties hereto agrees that all repayments of the Notes (including any accrued interest thereon) by the Company (other than by conversion of the Notes) will be paid pro rata to the holders thereof based upon the principal amount then outstanding to each of such holders.

  • Prepayment of Notes No prepayment of the Notes may be made except to the extent and in the manner expressly provided in this Agreement.

  • Payment of Subscription Price The full purchase price for Units is $100 per Unit, payable in cash concurrently with delivery of this Subscription Agreement. I understand that my subscription funds will be held by the General Partners, until my funds are needed by the Partnership to fund a mortgage investment or for other proper Partnership purposes, and only then will I actually be admitted to the Partnership. In the interim, my subscription funds will earn interest at passbook savings accounts rates. If I elect to receive monthly, quarterly or annual cash distributions, then such interest will be returned to me when I am admitted to the Partnership. If I elect to allow my share of Partnership income in the form of additional Units that will be reinvested by the Partnership, then such interest will be invested in the Partnership in which case I understand that the number of Units I initially subscribed for will be increased accordingly. If I initially elect to receive additional Units and reinvest my share of Partnership income, I may after three (3) years change my election and receive monthly, quarterly or annual cash distributions. I understand that if I initially elect to receive monthly, quarterly or annual cash distributions, my election to receive cash distributions is irrevocable. However, I understand that I may change whether I receive such distributions on a monthly, quarterly or annual basis.

Time is Money Join Law Insider Premium to draft better contracts faster.