Distributions on Trust Fund Certificates; Xxxxxx Mae Guaranty Sample Clauses

Distributions on Trust Fund Certificates; Xxxxxx Mae Guaranty. On each Distribution Date, Xxxxxx Xxx shall withdraw from the Trust Account the applicable portion of the Lower Tier Distribution Amount distributable thereon and shall make the distributions to the Holders of each related Class of Trust Fund Certificates in the respective amounts and in the applicable manner determined as provided herein. In the event that the amount on deposit in the Trust Account on any Distribution Date shall be less than the applicable portion of the Lower Tier Distribution Amount, Xxxxxx Mae shall provide from its own funds the amount of any insufficiency. In addition, in the event that (i) the Lower Tier Distribution Amount shall be insufficient to pay all interest due and payable on the Trust Fund Certificates during a particular month or (ii) any Distribution Date occurring during such month is a Final Distribution Date for a Class of Trust Fund Certificates (other than an Interest Only Class) and the distribution during such month of the Lower Tier Distribution Amount will not be sufficient to reduce the Class Balance of such Class to zero on such Final Distribution Date, then Xxxxxx Xxx shall (a) withdraw from the Trust Account such amount as shall be necessary to remedy any such insufficiency and (b) to the extent that funds in the Trust Account shall be insufficient therefor, apply its own funds towards remedying the same. Any distribution of principal pursuant to the preceding sentence shall be deemed to be part of the Principal Distribution Amount for purposes of all future calculations of Class Factors.
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Distributions on Trust Fund Certificates; Xxxxxx Mae Guaranty. On each Distribution Date, Xxxxxx Xxx shall withdraw from the Trust Account the Lower Tier Distribution Amount and shall make the distributions to the Holders of each Class of Trust Fund Certificates in the respective amounts and in the applicable manner determined pursuant to Section 3.02 hereof. In the event that the amount on deposit in the Trust Account on any Distribution Date shall be less than the applicable Lower Tier Distribution Amount, Xxxxxx Mae shall provide from its own funds the amount of any insufficiency so that the full Lower Tier Distribution Amount is distributed on such Distribution Date. In addition, in the event that
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Related to Distributions on Trust Fund Certificates; Xxxxxx Mae Guaranty

  • 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 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:

  • 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.

  • Trust Accounts Distributions Statements to Noteholders SECTION 5.1.

  • Restrictions on the Certificateholders’ Power The Certificateholders shall not direct the Owner Trustee to take or refrain from taking any action if such action or inaction would be contrary to any obligations of the Trust or of the Owner Trustee under any of the Basic Documents or would be contrary to Section 2.03 nor shall the Owner Trustee be obligated to follow any such direction, if given.

  • Certificates Issuable in Classes; Distributions of Principal and Interest; Authorized Denominations The aggregate principal amount of the Certificates that may be authenticated and delivered under this Agreement is limited to the aggregate Principal Balance of the Mortgage Loans as of the Cut-Off Date, as specified in the Preliminary Statement to this Agreement, except for Certificates authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Certificates pursuant to Section 5.03. Such aggregate principal amount shall be allocated among one or more Classes having designations, types of interests, initial per annum Certificate Interest Rates, initial Class Principal Balances and Final Maturity Dates as specified in the Preliminary Statement to this Agreement. The aggregate Percentage Interest of each Class of Certificates of which the Class Principal Balance equals zero as of the Cut-Off Date that may be authenticated and delivered under this Agreement is limited to 100%. Certificates shall be issued in Authorized Denominations.

  • Lock-Up Agreement from Certain Securityholders of the Company On or prior to the date hereof, the Company shall have furnished to the Representatives an agreement in the form of Exhibit B hereto from the persons listed on Exhibit A hereto, and such agreement shall be in full force and effect on each of the First Closing Date and each Option Closing Date.

  • What Forms of Distribution Are Available from a Xxxxxxxxx Education Savings Account Distributions may be made as a lump sum of the entire account, or distributions of a portion of the account may be made as requested.

  • Waiver of Liquidation Distributions; Redemption Rights In connection with the Shares purchased pursuant to this Agreement, the Subscriber hereby waives any and all right, title, interest or claim of any kind in or to any distributions by the Company from the trust account which will be established for the benefit of the Company’s public stockholders and into which substantially all of the proceeds of the IPO will be deposited (the “Trust Account”), in the event of a liquidation of the Company upon the Company’s failure to timely complete an initial business combination. For purposes of clarity, in the event the Subscriber purchases Shares in the IPO or in the aftermarket, any additional Shares so purchased shall be eligible to receive any liquidating distributions by the Company. However, in no event will the Subscriber have the right to redeem any Shares into funds held in the Trust Account upon the successful completion of an initial business combination.

  • Application by Trustee of Funds Deposited for Payment of Securities Subject to Section 9.04 and any subordination provisions applicable to the Securities, all moneys deposited with the Trustee pursuant to Section 9.01 shall be held in trust and applied by it to the payment, either directly or through any paying agent (including the Issuer acting as its own paying agent), to the Holders of the particular Securities of such series for the payment or redemption of which such moneys have been deposited with the Trustee, of all sums due and to become due thereon for principal and interest; but such money need not be segregated from other funds except to the extent required by law.

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