Distributions on each Settlement Date Sample Clauses
The "Distributions on each Settlement Date" clause defines the process and timing for allocating and paying out funds to relevant parties on specified settlement dates. Typically, this clause outlines how collected amounts, such as principal or interest payments, are distributed among stakeholders like investors, lenders, or service providers according to a predetermined priority or schedule. By establishing clear rules for when and how distributions occur, the clause ensures transparency and predictability in financial transactions, reducing the risk of disputes and ensuring all parties receive their due payments in an orderly manner.
Distributions on each Settlement Date. On each Settlement Date and with respect to each Transferred Batch, Total Collections shall be distributed to the Purchaser.
Distributions on each Settlement Date. On each Settlement Date and with respect to each Purchased Batch, Total Collections not distributed on any prior Settlement Date shall be distributed as follows: FIRST, to the Provider an amount equal to the Excess Default Amount, if any, with respect to any prior Purchased Batch, until such amount has been paid in full; SECOND, to the Purchaser an amount in cash equal to the Aggregate Batch Discounts with respect to such Purchased Batch, until such amount has been paid in full; THIRD, to the Provider, an amount in cash equal to the Reserve Reduction Amount, until such amount has been paid in full; FOURTH, to the Purchaser, an amount in cash equal to the Initial Disbursement with respect to such Purchased Batch, until such amount has been paid in full; and FIFTH, to the Provider, an amount equal to any Residual Amount with respect to such Purchased Batch.