Distributions. The Trustee, as of the First Settlement Date, shall advance from its own funds and shall pay to the Unitholders of each Trust then of record the amount of interest accrued on the Bonds deposited in such Trust. The Trustee shall be entitled to reimbursement for such advancement from interest received by the respective Trust before any further distributions shall be made from the Interest Account to Unitholders of such Trust. The Trustee shall also advance from its own funds and pay the appropriate persons the Trustee Advance, which amount represents interest which accrues on any "when, as and if issued" Bonds deposited in a Trust from the First Settlement Date to the respective dates of delivery to the Trust of any of such Bonds. Subsequent distributions shall be made as hereinafter provided. Subsequent distributions of funds from the Interest Account of a Trust shall be made on the Monthly Record Dates of a Trust as described herein. As of each Monthly Record Date, the Trustee shall, with respect to each Trust:
Appears in 411 contracts
Samples: Trust Agreement (Van Kampen Unit Trusts, Municipal Series 1118), Trust Agreement (Van Kampen Unit Trusts, Municipal Series 957), Trust Agreement (Van Kampen Unit Trusts, Municipal Series 917)
Distributions. The Trustee, as of the First Settlement Date, shall advance from its own funds and shall pay to the Unitholders of the each Trust then of record the amount of interest accrued on the Bonds deposited in such Trust. The Trustee shall be entitled to reimbursement for such advancement from interest received by the respective Trust before any further distributions shall be made from the Interest Account to Unitholders of such Trust. The Trustee shall also advance from its own funds and pay the appropriate persons the Trustee Advance, which amount represents interest which accrues on any "when, as and if issued" Bonds deposited in a Trust from the First Settlement Date to the respective dates of delivery to the Trust of any of such Bonds. Subsequent distributions shall be made as hereinafter provided. Subsequent distributions of funds from the Interest Account of a Trust shall be made on the Monthly Record Dates of a Trust as described herein. As of each Monthly Record Date, the Trustee shall, with respect to each Trust:
Appears in 185 contracts
Samples: Trust Agreement (Van Kampen Unit Trusts, Municipal Series 809), Trust Agreement (Van Kampen Unit Trusts, Municipal Series 827), Trust Agreement (Van Kampen Unit Trusts, Municipal Series 847)
