Common use of USE OF AMOUNT TO BE TRUSTED Clause in Contracts

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.

USE OF AMOUNT TO BE TRUSTED. Of the Contract price total, the Seller will place at least: (1) Seventy Five One Hundred Ten percent (75110%) of the purchase price collected for all Funeral Merchandise and Services sold, other than outer burial containerswholesale cost of cemetery merchandise; (2) Sixty percent (60%) of the purchase price collected for outer burial containers; (3) One hundred ten Sixty percent (11060%) of the wholesale cost of memorialspurchase price collected for cemetery services; and (4) One hundred percent (100%) of the purchase price collected for all cash advance items sold; (5) seventy-five percent (75%) of the purchase price of caskets collected, 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-3117A-42, 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.

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 § 2700-17A-3100-000, 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.