USE OF AMOUNT TO BE TRUSTED Sample Clauses

USE OF AMOUNT TO BE TRUSTED. Of the Contract price total, the Seller will place at least: (1) Seventy Five percent (75%) of the purchase price collected for all Funeral Merchandise and Services sold, other than outer burial containers; (2) Sixty percent (60%) of the purchase price collected for outer burial containers; (3) One hundred ten percent (110%) of the wholesale cost of memorials; and (4) One hundred percent (100%) of the purchase price collected for all cash advance items sold, in a trust. Trust deposits shall be made not later than thirty (30) days after the end of the calendar month in which the sum of the monies collected on the Contract exceeds the amount that is not required to be trusted under Ala. Code § 27-17A-31, unless prior to that time all liabilities of the Seller under the Contract have been satisfied, or the preneed Contract has been validly cancelled. Any further required trust deposits shall thereafter be made not later than thirty (30) days after the end of the calendar month in which each Contract payment is collected by the Seller.
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Related to USE OF AMOUNT TO BE TRUSTED

  • Execution, Authentication, Availability and Dating of the Residual Certificates The Residual Certificates shall be executed on behalf of Xxxxxx Mae by an Authorized Officer of Xxxxxx Xxx under the corporate seal of Xxxxxx Mae, which may be in facsimile form and be imprinted or otherwise reproduced thereon, and shall be attested by the Secretary, Assistant Secretary, or a second Authorized Officer of Xxxxxx Xxx. The signature of any of these Persons on the Residual Certificates may be manual or facsimile. A Residual Certificate bearing the manual or facsimile signature of individuals who were at any time officers of Xxxxxx Mae shall bind Xxxxxx Xxx, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Certificate or did not hold such offices at the date of such Certificate. At any time and from time to time after the execution and delivery of this Trust Agreement, Xxxxxx Mae may deliver Residual Certificates executed by Xxxxxx Xxx to the Certificate Registrar for authentication and the Certificate Registrar shall authenticate and make available such Certificates as provided in this Trust Agreement and not otherwise. No Residual Certificate shall be entitled to any benefit under this Trust Agreement or be valid for any purpose, unless there appears on such Residual Certificate a certificate of authentication substantially in the form provided for herein, executed by the Certificate Registrar by the manual or facsimile signature of one of its authorized signatories, and such certificate upon any Residual Certificate shall be conclusive evidence, and the only evidence, that such Residual Certificate has been duly authenticated and made available hereunder. Each Residual Certificate shall be dated the date of its authentication.

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