Consent to Payment of Accrued and Unpaid Dividends Sample Clauses

Related to Consent to Payment of Accrued and Unpaid Dividends

ACCRUED AND UNPAID AMOUNTS After giving effect to the withdrawals and transfers to be made in accordance with this notice, the following amounts will be accrued and unpaid with respect to all Monthly Periods preceding the current calendar month.
Accrued and Unpaid Inv Servicing Fees Recv'd 0.00 End. Accrued and Unpaid Inv. Servicing Fees 0.00 Number of Mortgage Loans Retransferred pursuant 0 to 2.07 Cumulative Number of Mortgage Loans Retransferred 0 pursuant to 2.07 Mortgage Loans Retransferred pursuant to 2.07 ($) 0.00 Cumulative Mortgage Loans Retransferred pursuant 0.00 to 2.07 ($) Aggregate Investor Liquidation Loss Amount 688,431.28 Investor Loss Reduction Amount 0.00 Beginning Pool Balance 450,027,320.94 Ending Pool Balance 430,145,011.75 Beginning Invested Amount 430,483,757.30 Ending Invested Amount 410,633,629.93 Beginning Seller Principal Balance 19,543,563.64 Ending Seller Principal Balance 19,511,381.82 Additional Balances 878,396.57 Beginning Funding Account Balance 0.00 Ending Funding Account Balance 0.00 Ending Funding Account Balance % (before any 0.00% purchase of Subsequent Loans or release to Certs.) Ending Funding Account Balance % (after purchase 0.00% of Subsequent Loans or release to Certs.) Principal Balance of Subsequent Funding Loans $0.00 Purchased in Period Principal Collections to purchase Additional $0.00 Balances and/or paid to Cert. Investment Earnings on Funding Account $0.00 Excess Funding Amount $0.00 Beginning Spread Account Balance 2,786,983.00 Ending Spread Account Balance 2,786,983.00 Beginning Seller Interest 4.34% Ending Seller's Interest 4.54% Delinquency & REO Status 30 - 59 days (Del Stat 1) No. of Accounts Trust Balance 980 60 - 89 days (Del Stat 2) 34,489,784.62 No. of Accounts 267 Trust Balance 8,626,866.55 90+ (Del Stat 3+) No. of Accounts 524 Trust Balance 17,547,056.20 REO No. of Accounts 83 Trust Balance 3,084,139.44 Rapid Amortization Event ? No Failure to make payment within 5 Business Days No of Required Date ? Failure to perform covenant relating to No Trust's Security Interest ? Failure to perform other covenants as No described in the Agreement ? Breach of Representation or Warranty ? No Bankruptcy, Insolvency or Receivership No relating to Seller ? Subject to Investment Company Act of 1940 No Regulation ? Servicing Termination ?
Payment of Dividends From and after the date of the issuance (the “Issuance Date”) of any shares of Series C Preferred Stock, the holders of shares of Series C Preferred Stock shall receive with respect to each share of Series C Preferred Stock, out of funds legally available for the payment of dividends, a cumulative dividend (the “Dividend Payment”) in an amount equal to the greater of (x) dividends at a rate of thirteen percent (13%) per annum based on the Liquidation Preference Amount (as defined in Section 4 hereof), and (y) dividends that would have accrued with respect to such share of Series C Preferred Stock during the applicable Dividend Period (as defined below) if the holder of such share had converted such share into Common Stock immediately prior to the record date of any dividend declared on the Common Stock in such Dividend Period. Any Dividend Payment referred to in clause (y) above shall be deemed to have accrued with respect to a share of Series C Preferred Stock as of the last day of the applicable Dividend Period. Dividend Payments on a share of Series C Preferred Stock shall accrue and shall be cumulative whether or not declared from the date of issue of such share of Series C Preferred Stock and shall be paid by the Company quarterly in arrears (to the extent funds are legally available therefor) on the first of July, October, January and April (each such quarterly period, a “Dividend Period”) in cash or, at the option of a holder of the Series C Preferred Stock, in shares of Common Stock, in an amount equal to the quotient of (i) the Dividend Payment divided by (ii) the Conversion Price (as defined in Section 5(c) hereof). The Dividend Payment shall accrue from day to day, whether or not earned or declared, and shall be cumulative. In the case of shares of Series C Preferred Stock outstanding for less than a full year, dividends shall be pro rated based on the portion of each year during which such shares are outstanding. The Company shall be under no obligation to pay any such dividends to the extent that funds are not legally available therefor. Dividends on the Series C Preferred Stock are prior and in preference to any declaration or payment of any dividend or distribution (as defined below) on any shares of Junior Stock.
Amount and Payment of Special Interest Any Special Interest that accrues on a Note pursuant to Section 7.03(A) will be payable on the same dates and in the same manner as the Stated Interest on such Note and will accrue at a rate per annum equal to one quarter of one percent (0.25%) of the principal amount thereof for the first ninety (90) days on which Special Interest accrues and, thereafter, at a rate per annum equal to one half of one percent (0.50%) of the principal amount thereof; provided, however, that in no event will Special Interest, together with any Additional Interest, accrue on any day on a Note at a combined rate per annum that exceeds one half of one percent (0.50%). For the avoidance of doubt, any Special Interest that accrues on a Note will be in addition to the Stated Interest that accrues on such Note and, subject to the proviso of the immediately preceding sentence, in addition to any Additional Interest that accrues on such Note.
Payment of Amounts The Death Benefit payable on the death of the Owner, or after the death of the first Owner, or upon the death of the spouse who continues the Contract, will be distributed to the designated Beneficiary(s) as follows:
Unconditional Right of Holders to Receive Principal, Premium and Interest and to Convert Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right, which is absolute and unconditional, to receive payment of the principal of and any premium and (subject to Section 307) interest on such Security on the respective Stated Maturities expressed in such Security (or, in the case of redemption, on the Redemption Date), and, if the terms of such Security so provide, to convert such Security in accordance with its terms, and to institute suit for the enforcement of any such payment and, if applicable, any such right to convert, and such rights shall not be impaired without the consent of such Holder.
Payment of accrued interest In the case of an Interest Period longer than 3 months, accrued interest shall be paid every 3 months during that Interest Period and on the last day of that Interest Period.
Payment of accrued default interest Subject to the other provisions of this Agreement, any interest due under this Clause shall be paid on the last day of the period by reference to which it was determined; and the payment shall be made to the Agent for the account of the Creditor Party to which the overdue amount is due.
Liquidating Dividends If the Company declares or pays a dividend upon the Common Stock payable otherwise than in cash out of earnings or earned surplus (determined in accordance with generally accepted accounting principles, consistently applied) except for a stock dividend payable in shares of Common Stock (a “Liquidating Dividend”), then the Company shall pay to the Registered Holder of this Warrant at the time of payment thereof the Liquidating Dividend which would have been paid to such Registered Holder on the Warrant Stock had this Warrant been fully exercised immediately prior to the date on which a record is taken for such Liquidating Dividend, or, if no record is taken, the date as of which the record holders of Common Stock entitled to such dividends are to be determined.
Liquidating Dividends, Etc If the Company at any time while this Option is outstanding and unexpired makes a distribution of its assets to the holders of its Capital Stock as a dividend in liquidation or by way of return of capital or other than as a dividend payable out of earnings or surplus legally available for dividends under applicable law or any distribution to such holders made in respect of the sale of all or substantially all of the Company's assets (other than under the circumstances provided for in the foregoing subsections (a) through (c)), the holder of this Option shall be entitled to receive upon the exercise hereof, in addition to the shares of Common Stock receivable upon such exercise, and without payment of any consideration other than the exercise price, an amount in cash equal to the value of such distribution per share of Common Stock multiplied by the number of shares of Common Stock which, on the record date for such distribution, are issuable upon exercise of this Option (with no further adjustment being made following any event which causes a subsequent adjustment in the number of shares of Common Stock issuable upon the exercise hereof), and an appropriate provision therefor should be made a part of any such distribution. The value of a distribution which is paid in other than cash shall be determined in good faith by the Board of Directors.