Interest Distributions Sample Clauses

Interest Distributions. Section 4.02 Distributions of Principal and Monthly Excess Cashflow Amounts............................................ Section 4.03
Interest Distributions. (i) From the Group I Interest Remittance Amount,
Interest Distributions. On each Distribution Date, the Interest Remittance Amount will be distributed in the following order of priority until such amounts have been fully distributed:
Interest Distributions. (I) On each Distribution Date, the Trustee shall withdraw from the Distribution Account the Group II Interest Remittance Amount and apply it in the following order of priority (based upon the Mortgage Loan information provided to it in the Remittance Report, upon which the Trustee may conclusively rely):
Interest Distributions. UK resident individuals will be taxable on the sum of gross interest distributions received and accumulations made during the relevant tax year. Such distributions are paid under deduction of income tax at a rate of 20%, and individuals paying tax at the basic rate on such income will not be subject to further taxation. Non-taxpayers will be entitled to claim a repayment of the full amount of the tax. Investors whose total taxable income including savings income falls within the starting rate band will be able to claim back part of the tax deducted. However higher rate and additional rate taxpayers will have further tax to pay on the gross distribution. The amount will depend on the tax rate applicable to their specific circumstances. A new personal savings allowance was introduced from 6 April 2016. UK tax resident individuals whose income is within the basic rate band will be able to earn the first £1,000 of savings income tax-free. Higher rate tax payers will beable to earn the first £500 savings income with no tax payable. Basic rate and higher rate tax payers whose total savings income is within the annual personal savings allowance can reclaim the tax withheld from theHM Revenue & Customs. From 6 April 2017, all interest distributions are made gross so no tax will be deducted from any interest distributions. As a result, where individuals’ gross interest distributions exceed their personal savings allowances detailed above, then they will be liable to pay income tax at their marginal rates(i.e. 20% for basic rate taxpayers, 40% for higher rate and 45% for additional rate taxpayers) on the excess amount. Prior to 5 April 2017, unless corporate Shareholders can satisfy the ACD that they were beneficially entitled to the income and were UK resident or acting through a UK branch subject to UK corporation tax on the income, interest distributions and accumulations were paid net of income tax at 20%. Where income tax has been deducted, corporate Shareholders may be entitled to a credit for the tax treated as paid. All interest distributions have been made gross since 6 April 2017. Shareholders who are within the charge to UK corporation tax should be aware that where such an investor holds an interest in a Fund and that Fund fails, at any time in an accounting period in which the investor holds its interest, to satisfy the “qualifying investments test”, the investor is required to treat its interest for that accounting period as if it were rights under a c...
Interest Distributions. On each Distribution Date, the Trustee shall withdraw from the Distribution Account the Group 1 Interest Remittance Amount, the Group 2 Interest Remittance Amount and the Group 3 Interest Remittance Amount and apply them in the following order of priority (based upon the Mortgage Loan information provided to it in the Remittance Report, upon which the Trustee may conclusively rely, and the calculations required to be made by the Trustee), in each case to the extent of the Group 1 Interest Remittance Amount, the Group 2 Interest Remittance Amount or the Group 3 Interest Remittance Amount, as applicable, remaining for such Distribution Date:
Interest Distributions. On each Distribution Date, the Trustee shall withdraw from the Distribution Account any prepayment charges collected on the Mortgage Loans and (A) any amounts paid by the Seller or the Servicer in respect of prepayment charges pursuant to this Agreement or (B) any amounts received in respect of any indemnification paid as a result of a prepayment charge being unenforceable in breach of the representations and warranties set forth in the Sale Agreement received during the related Prepayment Period; and distribute such amounts to the Class P Certificates. On each Distribution Date, for so long as Litton is the Servicer of the Mortgage Loans, the Trustee shall distribute to the Holders of the Class CE-2 Certificates, with respect to each Mortgage Loan and for each such calendar month, the Excess Servicing Fee. Following such distribution, the Trustee shall withdraw from the Distribution Account the remaining Interest Remittance Amount and apply it in the following order of priority (based upon the Mortgage Loan information provided to it in the Remittance Report, upon which the Trustee may conclusively rely), the calculations required to be made by the Trustee, to the extent available:
Interest Distributions. 113- Section 4.02 Distributions of Principal and Monthly Excess Cashflow Amounts..............................-115- Section 4.03 Allocation of Losses........................................................................-120- Section 4.04 Method of Distribution......................................................................-122- Section 4.05 Distributions on Book-Entry Certificates....................................................-122- Section 4.06 Statements..................................................................................-122- Section 4.07 Remittance Reports; Advances................................................................-126- Section 4.08 REMIC Distributions.........................................................................-127- ARTICLE V THE CERTIFICATES Section 5.01 The Certificates............................................................................-131- Section 5.02 Registration of Transfer and Exchange of Certificates.......................................-131- Section 5.03 Mutilated, Destroyed, Lost or Stolen Certificates...........................................-137- Section 5.04 Persons Deemed Owners.......................................................................-138- Section 5.05 Appointment of Paying Agent.................................................................-138- ARTICLE VI THE SELLER, THE SERVICER AND THE DEPOSITOR Section 6.01 Liability of the Seller, the Servicer and the Depositor.....................................-139- Section 6.02 Merger or Consolidation of, or Assumption of the Obligations of, the Seller, the Servicer or the Depositor...............................................................-139- Section 6.03 Limitation on Liability of the Servicer and Others..........................................-139- Section 6.04 Servicer Not to Resign......................................................................-140- Section 6.05 Delegation of Duties........................................................................-141- ARTICLE VII