Common use of Procedure Upon Redemption or Termination of Trust Fund Clause in Contracts

Procedure Upon Redemption or Termination of Trust Fund. (a) Notice of any redemption termination pursuant to the provisions of Section 7.01, specifying the Distribution Date upon which the final distribution shall be made or the Redemption Date of the applicable Certificates, shall be given promptly by the Securities Administrator by first class mail to the related Certificateholders mailed in the case of a redemption of any Certificates, no later than (i) the first day of the month in which the Distribution Date selected for redemption of such Certificates shall occur or (ii) upon (x) the sale of all of the related property of the Trust Fund by Securities Administrator on behalf of the Trustee or in the case of a sale of assets of the Trust Fund, or (y) upon the final payment or other liquidation of the last Mortgage Loan or REO Property in the Trust Fund. Such notice shall specify (A) the related Redemption Date, Distribution Date upon which final distribution on the applicable Certificates of all amounts required to be distributed to the related Certificateholders pursuant to Section 5.02 will be made upon presentation and surrender of the Certificates at the Certificate Registrar’s Corporate Trust Office, and (B) that the Record Date otherwise applicable to such Distribution Date is not applicable, distribution being made only upon presentation and surrender of such Certificates at the office or agency of the Trustee therein specified. The Securities Administrator shall give such notice to the Trustee, the Master Servicer and the Certificate Registrar at the time such notice is given to Holders of such Certificates. Upon the final payment or other liquidation of the last Mortgage Loan or REO Property in the Trust Fund, the duties of the Certificate Registrar with respect to the Certificates shall terminate and the Securities Administrator shall terminate, the Distribution Account and any other account or fund maintained with respect to the Certificates, subject to the Securities Administrator’s obligation hereunder to hold all amounts payable to Certificateholders in trust without interest pending such payment.

Appears in 19 contracts

Samples: Pooling and Servicing Agreement (J P Morgan Acceptance Corp I), Pooling and Servicing Agreement (J.P. Morgan Alternative Loan Trust 2007-A2), Pooling and Servicing Agreement (J.P. Morgan Alternative Loan Trust 2006-A2)

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Procedure Upon Redemption or Termination of Trust Fund. (a) Notice of any redemption or termination pursuant to the provisions of Section 7.01, specifying the Distribution Date upon which the final distribution shall be made or the Redemption Date of the applicable Certificates, shall be given promptly by the Securities Administrator by first class mail to the related Certificateholders mailed in the case of a redemption of any Certificates, no later than (i) the first day of the month in which the Distribution Date selected for redemption of such Certificates shall occur or (ii) upon (x) the sale of all of the related property of the Trust Fund by Securities Administrator on behalf of the Trustee or in the case of a sale of assets of the Trust Fund, or (y) upon the final payment or other liquidation of the last Mortgage Loan or REO Property in the Trust Fund. Such notice shall specify (A) the related Redemption Date, Distribution Date upon which final distribution on the applicable Certificates of all amounts required to be distributed to the related Certificateholders pursuant to Section 5.02 will be made upon presentation and surrender of the Certificates at the Certificate Registrar’s Corporate Trust Office, and (B) that the Record Date otherwise applicable to such Distribution Date is not applicable, distribution being made only upon presentation and surrender of such Certificates at the office or agency of the Trustee therein specified. The Securities Administrator shall give such notice to the Trustee, the Master Servicer and the Certificate Registrar at the time such notice is given to Holders of such Certificates. Upon the final payment or other liquidation of the last Mortgage Loan or REO Property in the Trust Fund, the duties of the Certificate Registrar with respect to the Certificates shall terminate and the Securities Administrator shall terminate, the Distribution Account and any other account or fund maintained with respect to the Certificates, subject to the Securities Administrator’s obligation hereunder to hold all amounts payable to Certificateholders in trust without interest pending such payment.

Appears in 7 contracts

Samples: Pooling and Servicing Agreement (J.P. Morgan Mortgage Trust 2006-S1), Pooling and Servicing Agreement (J.P. Morgan Alternative Loan Trust 2006-A4), Pooling and Servicing Agreement (J.P. Morgan Alternative Loan Trust 2006-S3)

Procedure Upon Redemption or Termination of Trust Fund. (a) Notice of any redemption or termination pursuant to the provisions of Section 7.01, specifying the Distribution Date upon which the final distribution shall be made or the applicable Redemption Date of the applicable any Certificates, shall be given promptly by the Securities Administrator by first class mail to the related Certificateholders mailed in the case of a redemption of any Certificates, no later than (i) the first day of the month in which the Distribution Date selected for redemption of such Certificates shall occur or (ii) upon (x) the sale of all of the related property of the Trust Fund by Securities Administrator on behalf of the Trustee or in the case of a sale of assets of the Trust Fund, or (y) upon the final payment or other liquidation of the last related Mortgage Loan or REO Property in the Trust Fund. Such notice shall specify (A) the related Redemption Date, Distribution Date upon which final distribution on the applicable such Certificates of all amounts required to be distributed to the related such Certificateholders pursuant to Section 5.02 will be made upon presentation and surrender of the related Certificates at the Certificate Registrar’s Corporate Trust Office, and (B) that the Record Date otherwise applicable to such Distribution Date is not applicable, distribution being made only upon presentation and surrender of such Certificates at the office or agency of the Trustee therein specified. The Securities Administrator shall give such notice to the Trustee, the Master Servicer and the Certificate Registrar at the time such notice is given to Holders of such Certificates. Upon the final payment or other liquidation of the last related Mortgage Loan or REO Property in the Trust Fund, the duties of the Certificate Registrar with respect to the related Certificates shall terminate and the Securities Administrator shall terminate, the Distribution Account and any other account or fund maintained with respect to the Certificates, subject to the Securities Administrator’s obligation hereunder to hold all amounts payable to Certificateholders in trust without interest pending such payment.

Appears in 6 contracts

Samples: Pooling and Servicing Agreement (J.P. Morgan Mortgage Trust 2007-S1), Pooling and Servicing Agreement (J.P. Morgan Mortgage Trust 2007-S2), Pooling and Servicing Agreement (J.P. Morgan Mortgage Trust 2006-S4)

Procedure Upon Redemption or Termination of Trust Fund. (a) Notice of any redemption or termination pursuant to the provisions of Section 7.01, specifying the Distribution Date upon which the final distribution shall be made or the Redemption Purchase Date of the applicable Certificates, shall be given promptly by the Securities Administrator by first class mail to the related Certificateholders mailed in the case of a redemption of any Certificates, no later than (i) the first day of the month in which the Distribution Date selected for redemption of such Certificates shall occur or (ii) upon (x) the sale of all of the related property of the Trust Fund by Securities Administrator on behalf of the Trustee or in the case of a sale of assets of the Trust Fund, or (y) upon the final payment or other liquidation of the last Mortgage Loan or REO Property in the Trust Fund. Such notice shall specify (A) the related Redemption Purchase Date, Distribution Date upon which final distribution on the applicable Certificates of all amounts required to be distributed to the related Certificateholders pursuant to Section 5.02 will be made upon presentation and surrender of the Certificates at the Certificate Registrar’s Corporate Trust Office, and (B) that the Record Date otherwise applicable to such Distribution Date is not applicable, distribution being made only upon presentation and surrender of such Certificates at the office or agency of the Trustee therein specified. The Securities Administrator shall give such notice to the Trustee, the Master Servicer and the Certificate Registrar at the time such notice is given to Holders of such Certificates. Upon the final payment or other liquidation of the last Mortgage Loan or REO Property in the Trust Fund, the duties of the Certificate Registrar with respect to the Certificates shall terminate and the Securities Administrator shall terminate, the Distribution Account and any other account or fund maintained with respect to the Certificates, subject to the Securities Administrator’s obligation hereunder to hold all amounts payable to Certificateholders in trust without interest pending such payment.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (J.P. Morgan Mortgage Trust 2007-A4), Pooling and Servicing Agreement (JPMMT 2007-A6), Pooling and Servicing Agreement (J P Morgan Acceptance Corp I)

Procedure Upon Redemption or Termination of Trust Fund. (a) Notice of any redemption termination pursuant to the provisions of Section 7.01, specifying the Distribution Date upon which the final distribution shall be made or the Redemption Date of the applicable Certificates, shall be given promptly by the Securities Administrator by first class mail to the related Certificateholders mailed in the case of a redemption of any Certificates, no later than (i) the first day of the month in which the Distribution Date selected for redemption of such Certificates shall occur or (ii) upon (x) the sale of all of the related property of the Trust Fund by Securities Administrator on behalf of the Trustee or in the case of a sale of assets of the Trust Fund, or (y) upon the final payment or other liquidation of the last Mortgage Loan or REO Property in the Trust Fund. Such notice shall specify (A) the related Redemption Date, Distribution Date upon which final distribution on the applicable Certificates of all amounts required to be distributed to the related Certificateholders pursuant to Section 5.02 will be made upon presentation and surrender of the Certificates at the Certificate Registrar’s Corporate Trust Office, and (B) that the Record Date otherwise applicable to such Distribution Date is not applicable, distribution being made only upon presentation and surrender of such Certificates at the office or agency of the Trustee therein specified. The Securities Administrator shall give such notice to the Trustee, the Master Servicer and the Certificate Registrar at the time such notice is given to Holders of such Certificates. Upon the final payment or other liquidation of the last Mortgage Loan or REO Property in the Trust Fund, the duties of the Certificate Registrar with respect to the Certificates shall terminate and the Securities Administrator shall terminate, the Distribution Account and any other account or fund maintained with respect to the Certificates, subject to the Securities Administrator’s obligation hereunder to hold all amounts payable to Certificateholders in trust without interest pending such payment.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (J.P. Morgan Mortgage Trust 2006-A7), Pooling and Servicing Agreement (J.P. Morgan Mortgage Trust 2007-A2), Pooling and Servicing Agreement (J.P. Morgan Mortgage Trust 2007-A1)

Procedure Upon Redemption or Termination of Trust Fund. (a) Notice of any redemption termination pursuant to the provisions of Section 7.01, specifying the Distribution Date upon which the final distribution shall be made or the Redemption Date of the applicable Certificates, shall be given promptly by the Securities Administrator Trustee by first class mail to the related Certificateholders mailed in the case of a redemption of any Certificatesthe Certificate, no later less than (i) the first day of the month in which the Distribution Date selected for redemption of such the Certificates shall occur occurs or (ii) upon (x) the sale of all of the related property of the Trust Fund by Securities Administrator on behalf of the Trustee or in the case of a sale of assets of the Trust Fund, or (y) upon the final payment or other liquidation of the last Mortgage Loan or REO Property in the Trust Fund. Such notice shall specify (A) the related Redemption Date, Distribution Date upon which final distribution on the applicable Certificates of all amounts required to be distributed to the related Certificateholders pursuant to Section 5.02 will be made upon presentation and surrender of the Certificates at the Certificate Registrar’s 's Corporate Trust Office, and (B) that the Record Date otherwise applicable to such Distribution Date is not applicable, distribution being made only upon presentation and surrender of such the Certificates at the office or agency of the Trustee therein specified. The Securities Administrator Trustee shall give such notice to the Trustee, the Master Servicer and the Certificate Registrar at the time such notice is given to Holders of such the Certificates. Upon the final payment or other liquidation of the last Mortgage Loan or REO Property in the Trust Fundany such termination, the duties of the Trustee and the Certificate Registrar with respect to the Certificates shall terminate and the Securities Administrator Trustee shall terminate, terminate the Distribution Account and any other account or fund maintained with respect to the Certificates, subject to the Securities Administrator’s Trustee's obligation hereunder to hold all amounts payable to Certificateholders in trust without interest pending such payment.

Appears in 3 contracts

Samples: Custodial Agreement (Merrill Lynch Mort Invest Inc MLCC 2003-B Mort Ps THR Cert), Custodial Agreement (Merrill Lynch Mortgage Investors Inc), Custodial Agreement (Merrill Lynch Mortgage Investors Inc)

Procedure Upon Redemption or Termination of Trust Fund. (a) Notice of any redemption termination pursuant to the provisions of Section 7.017.01(b), specifying the Distribution Date upon which the final distribution shall be made or the Redemption Date of the applicable Certificates, shall be given promptly by the Securities Administrator Trustee by first class mail to the related Certificateholders mailed in the case of a redemption of any the Certificates, no later less than (i) the first day of the month in which the Distribution Date selected for redemption of such the Certificates shall occur occurs or (ii) upon (x) the sale of all of the related property of the Trust Fund by Securities Administrator on behalf of the Trustee or in the case of a sale of assets of the Trust Fund, or (y) upon the final payment or other liquidation of the last Mortgage Loan or REO Property in the Trust Fund. Such notice shall specify (A) the related Redemption Date, Distribution Date upon which final distribution on the applicable Certificates of all amounts required to be distributed to the related Certificateholders pursuant to Section 5.02 will be made upon presentation and surrender of the Certificates at the Certificate Registrar’s 's Corporate Trust Office, and (B) that the Record Date otherwise applicable to such Distribution Date is not applicable, distribution being made only upon presentation and surrender of such the Certificates at the office or agency of the Trustee therein specified. The Securities Administrator Trustee shall give such notice to the Trustee, the Master Servicer and the Certificate Registrar at the time such notice is given to Holders of such the Certificates. Upon the final payment or other liquidation of the last Mortgage Loan or REO Property in the Trust Fundany such termination, the duties of the Trustee and the Certificate Registrar with respect to the Certificates shall terminate and the Securities Administrator Trustee shall terminate, terminate the Distribution Account and any other account or fund maintained with respect to the Certificates, subject to the Securities Administrator’s Trustee's obligation hereunder to hold all amounts payable to Certificateholders in trust without interest pending such payment.

Appears in 2 contracts

Samples: Custodial Agreement (Merrill Lynch Mortgage Investors Inc), Custodial Agreement (Merrill Lynch Mort Investors Inc Trust Series MLCC 2003-D)

Procedure Upon Redemption or Termination of Trust Fund. (a) Notice of any redemption termination pursuant to the provisions of Section 7.01, specifying the Distribution Date upon which the final distribution shall be made or the Redemption Date of the applicable Certificates, shall be given promptly by the Securities Administrator by first class mail to the related Certificateholders mailed in the case of a redemption of any Certificates, no later than (i) the first day of the month in which the Distribution Date selected for redemption of such Certificates shall occur or (ii) upon (x) the sale of all of the related property of the Trust Fund by Securities Administrator on behalf of the Trustee or in the case of a sale of assets of the Trust Fund, or (y) upon the final payment or other liquidation of the last Mortgage Loan or REO Property in the Trust Fund. Such notice shall specify (A) the related Redemption Date, Distribution Date upon which final distribution on the applicable Certificates of all amounts required to be distributed to the related Certificateholders pursuant to Section 5.02 will be made upon presentation and surrender of the Certificates at the Certificate Registrar’s Corporate Trust Office, and (B) that the Record Date otherwise applicable to such Distribution Date is not applicable, distribution being made only upon presentation and surrender of such Certificates at the office or agency of the Trustee therein specified. The Securities Administrator shall give such notice to the Trustee, the Master Servicer and the Certificate Registrar at the time such notice is given to Holders of such Certificates. Upon the final payment or other liquidation of the last Mortgage Loan or REO Property in the Trust Fund, the duties of the Certificate Registrar with respect to the Certificates shall terminate and the Securities Administrator shall terminate, the Distribution Account and any other account or fund maintained with respect to the Certificates, subject to the Securities Administrator’s obligation hereunder to hold all amounts payable to Certificateholders in trust without interest pending such payment.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bond Securitization LLC), Pooling and Servicing Agreement (J.P. Morgan Mortgage Trust 2006-A5)

Procedure Upon Redemption or Termination of Trust Fund. (a) Notice of any redemption or termination pursuant to the provisions of Section 7.01, specifying the Distribution Date upon which the final distribution shall be made or the Redemption Date of the applicable Certificates, shall be given promptly by the Securities Administrator by first class mail to the related Certificateholders mailed in the case of a redemption of any Certificates, no later than (i) the first day of the month in which the Distribution Date selected for redemption of such Certificates shall occur or (ii) upon (x) the sale of all of the related property of the Trust Fund by Securities Administrator on behalf of the Trustee or in the case of a sale of assets of the Trust Fund, or (y) upon the final payment or other liquidation of the last Mortgage Loan or REO Property in the Trust Fund. Such notice shall specify (A) the related Redemption Date, Distribution Date upon which final distribution on the applicable Certificates of all amounts required to be distributed to the related Certificateholders pursuant to Section 5.02 will be made upon presentation and surrender of the Certificates at the Certificate Registrar’s Corporate Trust Office, and (B) that the Record Date otherwise applicable to such Distribution Date is not applicable, distribution being made only upon presentation and surrender of such Certificates at the office or agency of the Trustee therein specified. The Securities Administrator shall give such notice to the Trustee, the Master Servicer and Servicer, the Certificate Registrar and the Swap Provider at the time such notice is given to Holders of such Certificates. Upon the final payment or other liquidation of the last Mortgage Loan or REO Property in the Trust Fund, the duties of the Certificate Registrar with respect to the Certificates shall terminate and the Securities Administrator shall terminate, terminate the Distribution Account and any other account or fund maintained with respect to the Certificates, subject to the Securities Administrator’s obligation hereunder to hold all amounts payable to Certificateholders in trust without interest pending such payment.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (J.P. Morgan Alternative Loan Trust 2006-A7), Pooling and Servicing Agreement (J.P. Morgan Alternative Loan Trust 2006-A6)

Procedure Upon Redemption or Termination of Trust Fund. (a) Notice of any redemption or termination pursuant to the provisions of Section 7.01, specifying the Distribution Date upon which the final distribution shall be made or the Redemption Date of the applicable Certificates, shall be given promptly by the Securities Administrator by first class mail to the related Certificateholders mailed in the case of a redemption of any Certificates, no later than (i) the first day of the month in which the Distribution Date selected for redemption of such Certificates shall occur or (ii) upon (x) the sale of all of the related property of the Trust Fund by Securities Administrator on behalf of the Trustee or in the case of a sale of assets of the Trust Fund, or (y) upon the final payment or other liquidation of the last Mortgage Loan or REO Property in the Trust Fund. Such notice shall specify (A) the related Redemption Date, Distribution Date upon which final distribution on the applicable Certificates of all amounts required to be distributed to the related Certificateholders pursuant to Section 5.02 will be made upon presentation and surrender of the Certificates at the Certificate Registrar’s Corporate Trust Office, and (B) that the Record Date otherwise applicable to such Distribution Date is not applicable, distribution being made only upon presentation and surrender of such Certificates at the office or agency of the Trustee therein specified. The Securities Administrator shall give such notice to the Trustee, the Master Servicer and the Certificate Registrar at the time such notice is given to Holders of such Certificates. Upon the final payment or other liquidation of the last Mortgage Loan or REO Property in the Trust Fund, the duties of the Certificate Registrar with respect to the Certificates shall terminate and the Securities Administrator shall terminate, the Distribution Account and any other account or fund maintained with respect to the Certificates, subject to the Securities Administrator’s obligation hereunder to hold all amounts payable to Certificateholders in trust without interest pending such payment.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (J.P. Morgan Mortgage Trust 2005-S2)

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Procedure Upon Redemption or Termination of Trust Fund. (a) Notice of any redemption or termination pursuant to the provisions of Section 7.01, specifying the Distribution Date upon which the final distribution shall be made or the Redemption Date of the applicable Certificates, shall be given promptly by the Securities Administrator by first class mail to the related Certificateholders mailed in the case of a redemption of any Certificates, no later than (i) the first day of the month in which the Distribution Date selected for redemption of such Certificates shall occur or (ii) upon (x) the sale of all of the related property of the Trust Fund by Securities Administrator on behalf of the Trustee or in the case of a sale of assets of the Trust Fund, or (y) upon the final payment or other liquidation of the last Mortgage Loan or REO Property in the Trust Fund. Such notice shall specify (A) the related Redemption Date, Distribution Date upon which final distribution on the applicable Certificates of all amounts required to be distributed to the related Certificateholders pursuant to Section 5.02 will be made upon presentation and surrender of the Certificates at the Certificate Registrar’s Corporate Trust Office, and (B) that the Record Date otherwise applicable to such Distribution Date is not applicable, distribution being made only upon presentation and surrender of such Certificates at the office or agency of the Trustee therein specified. The Securities Administrator shall give such notice to the Trustee, the Master Servicer and the Certificate Registrar at the time such notice is given to Holders of such Certificates. Upon the final payment or other liquidation of the last Mortgage Loan or REO Property in the Trust Fund, the duties of the Certificate Registrar with respect to the Certificates shall terminate and the Securities Administrator shall terminate, terminate the Distribution Account and any other account or fund maintained with respect to the Certificates, subject to the Securities Administrator’s obligation hereunder to hold all amounts payable to Certificateholders in trust without interest pending such payment.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (J P Morgan Acceptance Corp I)

Procedure Upon Redemption or Termination of Trust Fund. (a) Notice of any redemption optional termination pursuant to the provisions of Section 7.01, 7.01(c) specifying the Distribution Date upon which the final distribution shall be made or the Redemption Purchase Date of the applicable Certificates, shall be given promptly by the Securities Administrator Trustee by first class mail to the related Certificateholders mailed in the case of a redemption of any Certificates, no later than (i) the first day of the month in which the Distribution Date selected for redemption or purchase of such Certificates shall occur the Mortgage Loans occurs or (ii) upon (x) the sale of all of the related property of the Trust Fund by Securities Administrator on behalf of the Trustee or in the case of a sale of assets of the Trust Fund, or (y) upon the final payment or other liquidation of the last Mortgage Loan or REO Property in the Trust Fund. Such notice shall specify (A) the related Redemption Date, Purchase Date and the Distribution Date upon which final distribution on the applicable Certificates of all amounts required to be distributed to the related Certificateholders pursuant to Section 5.02 will be made upon presentation and surrender of the Certificates at the Certificate Registrar’s 's Corporate Trust Office, and (B) that the Record Date otherwise applicable to such Distribution Date is not applicable, distribution being made only upon presentation and surrender of such the Certificates at the office or agency of the Trustee therein specified. The Securities Administrator Trustee shall give such notice to the Trustee, the Master Servicer and the Certificate Registrar at the time such notice is given to Holders of such the Certificates. Upon the final payment or other liquidation of the last Mortgage Loan or REO Property in the Trust Fundany such termination, the duties of the Trustee and the Certificate Registrar with respect to the Certificates shall terminate and the Securities Administrator Trustee shall terminate, terminate the Distribution Account and any other account or fund maintained with respect to the Certificates, subject to the Securities Administrator’s Trustee's obligation hereunder to hold all amounts payable to Certificateholders in trust without interest pending such payment.

Appears in 1 contract

Samples: Custodial Agreement (Merrill Lynch Mortgage Investors Trust Series MLCC 2003-G)

Procedure Upon Redemption or Termination of Trust Fund. (a) Notice of any redemption or optional termination pursuant to the provisions of Section 7.01Sections 7.01(b) and 7.01(c), respectively, specifying the Distribution Date upon which the final distribution shall be made or the Redemption Date of the applicable CertificatesCertificates or Purchase Date, as applicable, shall be given promptly by the Securities Administrator Trustee by first class mail to the related Certificateholders mailed in the case of a redemption of any the Certificates, no later less than (i) the first day of the month in which the Distribution Date selected for redemption or purchase of such the Certificates shall occur occurs or (ii) upon (x) the sale of all of the related property of the Trust Fund by Securities Administrator on behalf of the Trustee or in the case of a sale of assets of the Trust Fund, or (y) upon the final payment or other liquidation of the last Mortgage Loan or REO Property in the Trust Fund. Such notice shall specify (A) the related Redemption Date or the Purchase Date, as applicable, and the Distribution Date upon which final distribution on the applicable Certificates of all amounts required to be distributed to the related Certificateholders pursuant to Section 5.02 will be made upon presentation and surrender of the Certificates at the Certificate Registrar’s 's Corporate Trust Office, and (B) that the Record Date otherwise applicable to such Distribution Date is not applicable, distribution being made only upon presentation and surrender of such the Certificates at the office or agency of the Trustee therein specified. The Securities Administrator Trustee shall give such notice to the Trustee, the Master Servicer and the Certificate Registrar at the time such notice is given to Holders of such the Certificates. Upon the final payment or other liquidation of the last Mortgage Loan or REO Property in the Trust Fundany such termination, the duties of the Trustee and the Certificate Registrar Xxxxxxxxx with respect to the Certificates shall terminate and the Securities Administrator Trustee shall terminate, terminate the Distribution Account and any other account or fund maintained with respect to the Certificates, subject to the Securities Administrator’s Trustee's obligation hereunder to hold all amounts payable to Certificateholders in trust without interest pending such payment.

Appears in 1 contract

Samples: Custodial Agreement (Merrill Lynch Mort Inv Inc Mo Pass THR Ce Se MLCC 2003f)

Procedure Upon Redemption or Termination of Trust Fund. (a) Notice of any redemption or termination pursuant to the provisions of Section 7.01, specifying the Distribution Date upon which the final distribution shall be made or the Redemption Date of the applicable Certificates, shall be given promptly by the Securities Administrator by first class mail to the related Certificateholders mailed in the case of a redemption of any Certificates, no later than (i) the first day of the month in which the Distribution Date selected for redemption of such Certificates shall occur or (ii) upon (x) the sale of all of the related property of the Trust Fund by Securities Administrator on behalf of the Trustee or in the case of a sale of assets of the Trust Fund, or (y) upon the final payment or other liquidation of the last Mortgage Loan or REO Property in the Trust Fund. Such notice shall specify (A) the related Redemption Date, Distribution Date upon which final distribution on the applicable Certificates of all amounts required to be distributed to the related Certificateholders pursuant to Section 5.02 will be made upon presentation and surrender of the Certificates at the Certificate Registrar’s Corporate Trust Office, and (B) that the Record Date otherwise applicable to such Distribution Date is not applicable, distribution being made only upon presentation and surrender of such Certificates at the office or agency of the Trustee therein specified. The Securities Administrator shall give such notice to the Trustee, the Master Servicer Servicer, the Swap Provider and the Certificate Registrar at the time such notice is given to Holders of such Certificates. Upon the final payment or other liquidation of the last Mortgage Loan or REO Property in the Trust Fund, the duties of the Certificate Registrar with respect to the Certificates shall terminate and the Securities Administrator shall terminate, the Distribution Account and any other account or fund maintained with respect to the Certificates, subject to the Securities Administrator’s obligation hereunder to hold all amounts payable to Certificateholders in trust without interest pending such payment.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (J.P. Morgan Alternative Loan Trust 2006-S4)

Procedure Upon Redemption or Termination of Trust Fund. (a) Notice of any redemption or termination pursuant to the provisions of Section 7.01, specifying the Distribution Date upon which the final distribution shall be made or the Redemption Date of the applicable Certificates, shall be given promptly by the Securities Administrator by first class mail to the related Certificateholders mailed in the case of a redemption of any Certificates, no later than (i) the first day of the month in which the Distribution Date selected for redemption of such Certificates shall occur or (ii) upon (x) the sale of all of the related property of the Trust Fund by Securities Administrator on behalf of the Trustee or in the case of a sale of assets of the Trust Fund, or (y) upon the final payment or other liquidation of the last Mortgage Loan or REO Property in the Trust Fund. Such notice shall specify (A) the related Redemption Date, Distribution Date upon which final distribution on the applicable Certificates of all amounts required to be distributed to the related Certificateholders pursuant to Section 5.02 will be made upon presentation and surrender of the Certificates at the Certificate Registrar’s Corporate Trust Office, and (B) that the Record Date otherwise applicable to such Distribution Date is not applicable, distribution being made only upon presentation and surrender of such Certificates at the office or agency of the Trustee therein specified. The Securities Administrator shall give such notice to the Trustee, the Master Servicer Servicer, the Swap Provider, the Cap Provider and the Certificate Registrar at the time such notice is given to Holders of such Certificates. Upon the final payment or other liquidation of the last Mortgage Loan or REO Property in the Trust Fund, the duties of the Certificate Registrar with respect to the Certificates shall terminate and the Securities Administrator shall terminate, the Distribution Account and any other account or fund maintained with respect to the Certificates, subject to the Securities Administrator’s obligation hereunder to hold all amounts payable to Certificateholders in trust without interest pending such payment.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (J.P. Morgan Alternative Loan Trust 2007-S1)

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