Trustee Distribution Date Statement Clause Samples
The Trustee Distribution Date Statement clause defines the requirement for the trustee to provide a formal statement specifying the date on which distributions from the trust will be made to beneficiaries. In practice, this clause obligates the trustee to communicate the timing of distributions, ensuring all parties are informed in advance and can plan accordingly. Its core function is to promote transparency and prevent misunderstandings regarding when beneficiaries can expect to receive their entitlements from the trust.
Trustee Distribution Date Statement. The Trustee shall, not later than the Business Day prior to each Deposit Date, furnish by telecopy to the Servicer, the Depositor and the Seller a statement derived from information on the Servicer Remittance Report that sets forth the following information for the Offered Certificates relating to the next succeeding Distribution Date:
(a) the total amount of payments in respect of or allocable to interest on the Mortgage Loans received from the related Mortgagors by the Servicer during such Collection Period (including any net income from REO Properties received during the related Collection Period);
(b) the aggregate amount of all Principal Prepayments received from the related Mortgagors by the Servicer during such Collection Period;
(c) the aggregate amount of all Principal Payments received from the related Mortgagors by the Servicer during such Collection Period;
(d) the total amount of Payments Ahead received during the related Collection Period;
(e) the aggregate of any Trust Insurance Proceeds received by the Servicer during such Collection Period;
(f) the aggregate of any Net Liquidation Proceeds received by the Servicer during such Collection Period;
(g) the total amount of Compensating Interest payments to be paid by the Servicer pursuant to Section 3.08;
(h) the aggregate Purchase Prices for (i) any Defective Mortgage Loans that the Seller is required to repurchase on the related Deposit Date pursuant to Section 2.03 or 2.05 and (ii) any Mortgage Loan that the Servicer is required to purchase on the related Deposit Date pursuant to Section 3.01 or 3.06;
(i) any amounts required to be deposited by the Seller on the related Deposit Date in connection with the substitution of a Qualified Replacement Mortgage Loan pursuant to Section 2.03 or 2.05;
(j) the amount of Monthly Advances to be made by the Servicer pursuant to Section 5.02(a);
(k) the related Monthly Servicing Fee attributable to the Mortgage Loans in the related Mortgage Loan Group;
(l) the amount of Monthly Advances reimbursable to the Servicer in such Collection Period pursuant to Section 5.02(a) and not previously reimbursed;
(m) the amount of any Servicing Advance made by the Servicer pursuant to Section 5.02(b) and not previously reimbursed;
(n) the amount of any Interest Shortfall for the related Distribution Date;
(o) the number and Principal Balance of Mortgage Loans in each Mortgage Loan Group that, as of the end of the preceding calendar month were (i) 30 or more days contract...
Trustee Distribution Date Statement. The Trustee shall, not later than the Business Day prior to each Deposit Date, furnish by telecopy to the Servicer and the Seller a statement derived from information on the Servicer Remittance Report that sets forth the following information for the Offered Certificates relating to the next succeeding Distribution Date:
(a) the total amount of payments in respect of or allocable to interest on the Mortgage Loans received or deemed to have been received from the related Mortgagors by the Servicer during such Collection Period (including any net income from REO Properties received during the related Collection Period);
(b) the aggregate amount of all Principal Prepayments received from the related Mortgagors by the Servicer during such Collection Period;
(c) the aggregate amount of all Principal Payments received or deemed to have been received from the related Mortgagors by the Servicer during such Collection Period;
Trustee Distribution Date Statement. The Trustee shall, not later than the Business Day prior to each Deposit Date, furnish by telecopy to the Servicer, the Depositor and the Seller a statement derived from information on the Servicer Remittance Report that sets forth the following information for the Offered Certificates relating to the next succeeding Distribution Date:
(a) the total amount of payments in respect of or allocable to interest on the Mortgage Loans received from the related Mortgagors by the Servicer during such Collection Period (including any net income from REO Properties received during the related Collection Period);
(b) the aggregate amount of all Principal Prepayments received from the related Mortgagors by the Servicer during such Collection Period;
(c) the aggregate amount of all Principal Payments received from the related Mortgagors by the Servicer during such Collection Period;
(d) the total amount of Payments Ahead received during the related Collection Period;
(e) the aggregate of any Trust Insurance Proceeds received by the Servicer during such Collection Period;
(f) the aggregate of any Net Liquidation Proceeds received by the Servicer during such Collection Period;
(g) the total amount of Compensating Interest payments to be paid by the Servicer pursuant to Section 3.08;
Trustee Distribution Date Statement. The Trustee shall, not later than the Business Day prior to each Deposit Date, furnish by telecopy to the Servicer and the Certificate Insurer a statement derived from information on the Servicer Remittance Report for the Group I Mortgage Loans that sets forth the following information for the Class A-1 Certificates and Group I and a statement derived from the information for the Group II Mortgage Loans that sets forth the following information for the Class A-2 Certificates and Group II, relating to the next succeeding Distribution Date:
(a) the total amount of payments in respect of or allocable to interest on the Mortgage Loans received or deemed to have been received from the related Mortgagors by the Servicer during such Collection Period (including any net income from REO Properties received during the related Collection Period);
(b) the aggregate amount of all Principal Prepayments received from the related Mortgagors by the Servicer during such Collection Period;
(c) the aggregate amount of all Principal Payments received or deemed to have been received from the related Mortgagors by the Servicer during such Collection Period;
Trustee Distribution Date Statement. The Trustee shall, not later than the Business Day prior to each Deposit Date, furnish by telecopy to the Servicer, Financial Guaranty Insurer and each Rating Agency a statement derived from information on the Servicer Remittance Report for each Mortgage Loan Group and the related Offered Certificates, relating to the next succeeding Distribution Date:
(a) the total amount of payments in respect of or allocable to interest on the Mortgage Loans received or deemed to have been received from the related Mortgagors by the Servicer during such Collection Period (including any net income from REO Properties received during the related Collection Period);
(b) the aggregate amount of all Principal Prepayments received from the related Mortgagors by the Servicer during such Collection Period;
Trustee Distribution Date Statement. The Trustee shall, not later than the Business Day prior to each Deposit Date, furnish by telecopy to the Servicer and the Certificate Insurer a statement derived from information on the Servicer Remittance Report that sets forth