Certificate Distribution definition

Certificate Distribution means the monthly amount of Underlying Enhanced Receipt Interest to be distributed to the Certificateholders equal to the product of the outstanding Certificate Balance by the Certificate Rate, calculated on a 30/360 basis.
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Certificate Distribution. Amount The amount payable to the Certificate Paying Agent under Section 3.05(a)(ix) of the Indenture for payment to the Certificates under the Trust Agreement.
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Certificate Distribution. On any Remittance Date, the aggregate amount of Debt Service required to be distributed on such date with respect to the Certificates, such amount being equal to the sum of (A) for the Mortgage Loan as of the related Due Date, the amount actually received before the Determination Date by the Trustee from the Mortgagor with respect to the Mortgage Payment (including amounts described in Section 5.03(vii)), plus any amount provided therefor in the Debt Service Reserve Account, (B) any Principal Prepayment received during the related Principal Prepayment Period on the Mortgage Loan if the Mortgage Loan was the subject of a Principal Prepayment during such Principal Prepayment Period, (C) if the Mortgage Loan became a Liquidated Mortgage Loan during the related Principal Prepayment Period, the lesser of (a) the principal balance of the Mortgage Loan as of the first day of such Prepayment Period, before giving effect to any scheduled payment of principal due on such day or (b) the aggregate Net Liquidation Proceeds received with respect to the Mortgage Loan, and (D) if there has been any shortfall in the payment of the Certificate Distribution to a Certificateholder for any reason, the amount of any such shortfall remaining unpaid as of the applicable remittance Date and any amounts in the nature of late payment charges received with respect to the Mortgage Loan.
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Examples of Certificate Distribution in a sentence

  • Any Paying Agent shall have the revocable power to withdraw funds from the Certificate Distribution Account for the purpose of making the distributions referred to above.

  • Any Certificate Paying Agent shall have the revocable power to withdraw funds from the Certificate Distribution Account for the purpose of making the distributions referred to above.

  • Except as otherwise expressly provided herein, the Certificate Distribution Account shall be under the sole dominion and control of the Owner Trustee for the benefit of the Certificateholders.

  • The Owner Trustee hereby acknowledges receipt in trust from the Depositor, as of the date hereof, of the foregoing contribution, which shall constitute the initial corpus of the Trust and shall be deposited in the Certificate Distribution Account.

  • The Trust shall possess all right, title and interest in all funds on deposit from time to time in the Certificate Distribution Account and in all proceeds thereof.

  • Funds on deposit in the Certificate Distribution Account shall be held uninvested.

  • Except as otherwise expressly provided herein, the Certificate Distribution Account shall be under the sole dominion and control of the Owner Trustee for the benefit of the Certificateholder.

  • The Owner Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Certificate Distribution Account and in all proceeds thereof.

  • The Certificateholders shall possess all beneficial right, title and interest in and to all funds on deposit from time to time in the Certificate Distribution Account and all proceeds thereof.

  • The Paying Agent shall make distributions to Certificateholders from the Certificate Distribution Account pursuant to Section 5.02 and shall report the amounts of such distributions to the Owner Trustee.