Common use of Monthly Distributions Clause in Contracts

Monthly Distributions. (a) Distributions on the Certificates shall be made from funds in the Certificate Account. Each Certificateholder as of a Record Date shall be paid on the next succeeding Distribution Date by check mailed to such Certificateholder at the address for such Certificateholder appearing on the Certificate Register (or, if a Holder of an Offered Certificate holds an aggregate Percentage Interest of at least 5% of the Offered Certificates or a Holder of a Private Certificate holds a Certificate with a Percentage Interest of 50% of such Certificate, and if such Certificateholder so requests, by wire transfer of immediately available funds pursuant to written instructions delivered to the Trustee at least five days prior to the related Record Date, which instructions, until revised, shall remain operative for all Distribution Dates thereafter), such Certificateholder's Percentage Interest of the amount to be distributed. Final payment on any Certificate shall be made only upon presentation and surrender of such Certificate at the office or agency of the Paying Agent.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Cit Home Equity Loan Trust 2002-1), Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Acceptance Corp), Pooling and Servicing Agreement (Cit Home Equity Loan Trust 2003-1)

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Monthly Distributions. (a) Distributions on the Certificates shall be made from funds in the Certificate Account. Each Certificateholder as of a Record Date shall be paid on the next succeeding Distribution Date by check mailed to such Certificateholder at the address for such Certificateholder appearing on the Certificate Register (or, if a Holder of an the Offered Certificate holds an aggregate Percentage Interest of at least 5% of the Offered Certificates or and the Class B-2 Certificates or, a Holder of a Private Class B-2 Certificate holds a Certificate with a Percentage Interest an Original Class B-2 Certificate Balance of 50% of such Certificateat least $1,000,000, and if such Certificateholder so requests, by wire transfer of immediately available funds pursuant to written instructions delivered to the Trustee at least five ten (10) days prior to the related Record such Distribution Date, which instructions, until revised, shall remain operative for all Distribution Dates thereafter), such Certificateholder's Percentage Interest of the amount to be distributed. Final payment on any Certificate shall be made only upon presentation and surrender of such Certificate at the office or agency of the Paying Agent.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Cit Home Equity Loan Trust 1997-1)

Monthly Distributions. (a) Distributions on the Certificates shall be made from funds in the Certificate Account. Each Certificateholder as of a Record Date shall be paid on the next succeeding Distribution Date by check mailed to such Certificateholder at the address for such Certificateholder appearing on the Certificate Register (or, if a Holder of an [Offered Certificate Certificate] holds an aggregate Percentage Interest of at least 5% of the [Offered Certificates or a Holder of a Private Certificate Certificate] holds a Certificate with a Percentage Interest of 50% of such Certificate, and if such Certificateholder so requests, by wire transfer of immediately available funds pursuant to written instructions delivered to the Trustee at least five days prior to the related Record Date, which instructions, until revised, shall remain operative for all Distribution Dates thereafter), such Certificateholder's Percentage Interest of the amount to be distributed. Final payment on any Certificate shall be made only upon presentation and surrender of such Certificate at the office or agency of the Paying Agent.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Cit Group Securitization Corp Iii)

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Monthly Distributions. (a) Distributions on the Certificates shall be made from funds in the Certificate AccountAccount (but only to the extent of the Amount Available for the related Remittance Date, except as provided below with respect to Class A-5 Interest Shortfalls). Each Certificateholder as of a Record Date shall be paid on the next succeeding Distribution Remittance Date by check mailed to such Certificateholder at the address for such Certificateholder appearing on the Certificate Register (or, if a Holder of an Offered Certificate Certificateholder holds an aggregate Percentage Interest of at least 5% of the Offered Certificates or a Holder of a Private Certificate holds a Certificate with a Percentage Interest of 50% of such Certificate, and if such Certificateholder so requests, by wire transfer of immediately available funds pursuant to written instructions delivered to the Trustee at least five ten (10) days prior to the related Record such Remittance Date, which instructions, until revised, shall remain operative for all Distribution Remittance Dates thereafter), such Certificateholder's Percentage Interest of the amount to be distributed. Final payment on any Certificate shall be made only upon presentation and surrender of such Certificate at the office or agency of the Paying Agent.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Cit Group Securitization Corp Ii)

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