Account Distributions Clause Examples
Account Distributions
When Must Distributions from a ▇▇▇▇ ▇▇▇ Begin Unlike Traditional IRAs, there is no requirement that you begin distribution of your account during your lifetime at any particular age.
Operating Distributions Subject to Section 5.2, the Company shall from time to time distribute to the Member such amounts in cash and other assets as shall be determined by the Member.
Interim Distributions At such times as may be determined by it in its sole discretion, the Trustee shall distribute, or cause to be distributed, to the Beneficiaries, in proportion to the number of Trust Units held by each Beneficiary relating to the Trust, such cash or other property comprising a portion of the Trust Assets as the Trustee may in its sole discretion determine may be distributed without detriment to the conservation and protection of the Trust Assets in the Trust.
Accounts Distributions (a) On or prior to the Closing Date, the Issuer shall cause the Servicer to establish and maintain, in the name of the Indenture Trustee for the benefit of the Owners and the Note Insurer, the Accounts as provided in the Sale and Servicing Agreement. The Indenture Trustee shall deposit amounts into the Accounts in accordance with the terms hereof and the Sale and Servicing Agreement. (b) On or before the Monthly Remittance Date prior to each Payment Date, the Servicer shall withdraw from the Principal and Interest Account the amounts specified in Section 3.03(a) of the Sale and Servicing Agreement and will deliver such amount to the Indenture Trustee for deposit into the Pool I Note Account. No later than the Business Day prior to each Payment Date, to the extent funds are available in the Pool I Note Account, the Indenture Trustee shall either retain funds in the Pool I Note Account or make the withdrawals from the Pool I Note Account and deposits into the other Accounts for distribution on such Payment Date as required pursuant to Section 3.03(b) of the Sale and Servicing Agreement. (c) On each Payment Date and the Redemption Date, to the extent funds are available in the Pool I Note Account, the Indenture Trustee shall make the following distributions from the amounts on deposit in the Pool I Note Account in the following order of priority (except as otherwise provided in Section 5.4(b)): (i) to the Owners of the Notes, the Current Interest for such Payment Date; provided, that if there are not sufficient funds in the Pool I Note Account to pay the entire amount of accrued and unpaid interest then due on the Notes, the amount in the Pool I Note Account shall be applied to the payment of such interest on the Notes pro rata on the basis of the total such interest due on the Notes; and (ii) to the Owners of the Notes, the Pool I Principal Payment Amount for such Payment Date until the Pool I Note Principal Balance is reduced to zero. (d) The Indenture Trustee shall make claims in respect of the Home Equity Loans under the Note Insurance Policy pursuant to Section 7.02 of the Sale and Servicing Agreement and in accordance with the Note Insurance Policy. The Indenture Trustee shall deposit any Insured Payment received from the Note Insurer in respect of the Notes in the Pool I Note Account. All amounts received under the Note Insurance Policy in respect of the Notes shall be used solely for the payment to Owners of principal and interest on the Notes.