Distributions on Residual Certificates Sample Clauses

Distributions on Residual Certificates. (a) The Residual Certificateholders will be entitled to distributions on each Payment Date, as provided in this Agreement, the Sale and Servicing Agreement and the Indenture. With respect to any Payment Date, any amounts remaining in the Distribution Account for payment to the Residual Certificateholders pursuant to Section 8.7(b)(xiv) of the Indenture, to the extent such funds are received by the Owner Trustee, shall be distributed by the Owner Trustee as follows:
Sample 1Sample 2Sample 3See All (10)
AutoNDA by SimpleDocs
Distributions on Residual Certificates. The Holders of the Residual Certificates will be entitled to distributions on each Payment Date, as provided in the Sale and Servicing Agreement and the Indenture.
Sample 1Sample 2Sample 3See All (4)
Distributions on Residual Certificates. (a) The Residual Certificateholders will be entitled to distributions on each Payment Date, as provided in this Agreement, the Transfer and Servicing Agreement and the Indenture. With respect to any Payment Date during the Managed Amortization Period, funds received by the Owner Trustee pursuant to Section 5.03(b)(ii) or (iii) of the Transfer and Servicing Agreement shall be distributed by the Owner Trustee to the Class L Certificateholders. With respect to any Payment Date, any amounts remaining in the Payment Account for payment to the Residual Certificateholders pursuant to Section 5.03(b)(xi) of the Transfer and Servicing Agreement, to the extent such funds are received by the Owner Trustee, shall be distributed by the Owner Trustee as follows:
Sample 1
Distributions on Residual Certificates. The Residual Certificateholders will be entitled to distributions on each Payment Date, as provided in this Agreement, the Transfer and Servicing Agreement and the Indenture. With respect to any Payment Date, any amounts remaining in the Distribution Account for payment to the Residual Certificateholders pursuant to Section [___] of the Indenture, to the extent such funds are received by the Owner Trustee, shall be distributed by the Owner Trustee to the Residual Certificateholders pro rata based on their respective Class Principal Balance. With respect to each Payment Date, the Owner Trustee, to the extent the Servicer has provided the related Servicing Certificate to the Owner Trustee pursuant to Section [__] of the Transfer and Servicing Agreement, shall deliver or make available the Servicing Certificate for such Payment Date to each Residual Certificateholder.
Sample 1Sample 2
Distributions on Residual Certificates. The Residual Certificateholders will be entitled to distributions on each Payment Date, as provided in this Agreement, the Master Servicing Agreement and the Indenture. With respect to any Payment Date, (x) the Indenture Trustee shall distribute to the Class L Certificateholders any amounts allocated to them in accordance with Section [___] of the Indenture and (y) any amounts remaining in the Distribution Account for payment to the Residual Certificateholders pursuant to Section [___] of the Indenture shall be distributed by the Indenture Trustee on the Owner Trustee’s behalf to the Class O Certificateholders; provided, however, on the Payment Date on which the Redemption Price is distributed, the portion, if any, of the Redemption Price allocable to the Class L Certificates shall be distributed pursuant to this Section 4.11 to the Class L Certificateholders and the portion, if any, of the Redemption Price allocable to the Class O Certificates shall be distributed pursuant to this Section 4.11 to the Class O Certificateholders, as applicable; and provided, further, that the Issuer shall cause any Mortgage Loans removed from the Trust Property pursuant to Section 2.07 of the Master Servicing Agreement to be assigned to the Holder of the Class L Certificates and the Class Principal Balance of the Class L Certificates shall be reduced by the Principal Balance of such Mortgage Loans (it being understood that, if any such assignment occurs during the Managed Amortization Period, the Principal Balance of such Mortgage Loans will be offset against the Class Principal Balance of the Class L Certificates following commencement of the Rapid Amortization Period).
Sample 1
Distributions on Residual Certificates. (i) The Residual Certificateholders will be entitled to distributions on each Payment Date, as provided in this Agreement, the Sale and Servicing Agreement and the Indenture. With respect to any Payment Date, (x) the Indenture Trustee shall distribute to the Class L Certificateholders any amounts allocated to them in accordance with Section 8.7(b)(iv), (v) and (vi) of the Indenture and (y) any amounts remaining in the Distribution Account for payment to the Residual Certificateholders pursuant to Section 8.7(b)(xiv) of the Indenture shall be distributed by the Indenture Trustee on the Owner Trustee's behalf as follows:
Sample 1

Related to Distributions on Residual Certificates

  • Distributions on the Certificates (a) Interest and principal on the Certificates will be distributed monthly on each Distribution Date, commencing in January 2002, in an aggregate amount equal to the sum of the Available Funds for such Distribution Date.

  • Distributions on Book-Entry Certificates Each distribution with respect to a Book-Entry Certificate shall be paid to the Depository, which shall credit the amount of such distribution to the accounts of its Depository Participants in accordance with its normal procedures. Each Depository Participant shall be responsible for disbursing such distribution to the Certificate Owners that it represents and to each indirect participating brokerage firm (a “brokerage firm” or “indirect participating firm”) for which it acts as agent. Each brokerage firm shall be responsible for disbursing funds to the Certificate Owners that it represents. All such credits and disbursements with respect to a Book-Entry Certificate are to be made by the Depository and the Depository Participants in accordance with the provisions of the Certificates. None of the Trustee, the Depositor or the Seller shall have any responsibility therefor.

  • Distributions on the REMIC Regular Interests (a) On each Distribution Date, the Trustee shall cause in the following order of priority, the following amounts to be distributed by REMIC 1 to REMIC 2 on account of the REMIC 1 Regular Interests or withdrawn from the Distribution Account and distributed to the holders of the Class R Certificates (in respect of the Class R-1 Interest), as the case may be:

  • Certificate Distribution Account The Certificate Distribution Account shall be established as a non-interest bearing trust account pursuant to Section 4.1 of the Sale and Servicing Agreement. Funds on deposit in the Certificate Distribution Account shall be held uninvested. The Certificateholders shall possess all beneficial right, title and interest in and to all funds on deposit from time to time in the Certificate Distribution Account and all proceeds thereof. Except as otherwise provided herein, in the Indenture or in the Sale and Servicing Agreement, the Certificate Distribution Account shall be under the sole dominion and control of the Certificate Paying Agent for the benefit of the Certificateholders. If, at any time, the Certificate Distribution Account ceases to be an Eligible Account, the Servicer on behalf of the Issuer, shall, within ten (10) Business Days (or such longer period) after becoming aware of the fact, establish a new Certificate Distribution Account as an Eligible Account and shall direct the Certificate Paying Agent to transfer any cash then on deposit in the Certificate Distribution Account to such new Certificate Distribution Account.

  • Class R Certificates Subordinated Certificates.... Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class B-4 Certificates.

  • Distributions on Deposited Securities Subject to paragraphs (4) and (5), to the extent practicable, the Depositary will distribute to each Holder entitled thereto on the record date set by the Depositary therefor at such Holder's address shown on the ADR Register, in proportion to the number of Deposited Securities (on which the following distributions on Deposited Securities are received by the Custodian) represented by ADSs evidenced by such Holder's ADRs: (a)

  • Distributions from the Certificate Account (a) On each Distribution Date, the Trustee (or the Paying Agent on behalf of the Trustee) shall withdraw from the Certificate Account, the Available Distribution Amount (other than the Class E Distributable Amount and the Class P Distributable Amount) with respect to each Mortgage Pool, and shall distribute such amount to the Holders of record of each Class of Certificates or Components, in the following order of priority:

  • DISTRIBUTIONS IN RESPECT OF CERTIFICATES PAYMENTS TO CERTIFICATEHOLDERS;

  • Class PO Certificates Private Certificates..................................... Class P, Class B-4, Class B-5 and Class B-6 Certificates. Rating Agencies.......................................... Fitch and S&P. Regular Certificates..................................... All Classes of Certificates other than the Class A-R Certificates. Residual Certificate..................................... Class A-R Certificates.

  • DISTRIBUTIONS TO HOLDERS OF CERTIFICATES Section 5.01 Distributions Generally. Section 5.02 Distributions from the Certificate Account. Section 5.03 Allocation of Losses. 92 Section 5.04 Advances by Master Servicer, Servicers and Securities Administrator. Section 5.05 Compensating Interest Payments. Section 5.06 Basis Risk Reserve Fund.

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