Controlled Distribution definition
Examples of Controlled Distribution in a sentence
If for one or more months during the Class A Controlled Amortization Period there are not sufficient funds to pay the Controlled Distribution Amount, then to the extent that excess funds are not available on subsequent Distribution Dates with respect to the Class A Controlled Amortization Period to make up for such shortfalls, the final payment of principal of the Class A Certificates will occur later than the Class A Expected Final Payment Date.
If for one or more months during the Class B Amortization Period there are not sufficient funds to pay the Controlled Distribution Amount, then to the extent that excess funds are not available on subsequent Distribution Dates with respect to the Class B Amortization Period to make up for such shortfalls, the final payment of principal of the Class B Certificates will occur later than the Class B Expected Final Payment Date.
No payments on account of principal shall be made with respect to the Class C Notes on any Distribution Date during the Series 2023-3 Controlled Amortization Period unless an amount equal to the Class A Controlled Distribution Amount for the Related Month shall have been paid to the Class A Noteholders and an amount equal to the Class B Controlled Distribution Amount for the Related Month shall have been paid to the Class B Noteholders.
No payments on account of principal shall be made with respect to the Class C Notes on any Distribution Date during the Series 2024-2 Controlled Amortization Period unless an amount equal to the Class A Controlled Distribution Amount for the Related Month shall have been paid to the Class A Noteholders and an amount equal to the Class B Controlled Distribution Amount for the Related Month shall have been paid to the Class B Noteholders.
No payments on account of principal shall be made with respect to the Class C Notes on any Distribution Date during the Series 2020-1 Controlled Amortization Period unless an amount equal to the Class A Controlled Distribution Amount for the Related Month shall have been paid to the Class A Noteholders and an amount equal to the Class B Controlled Distribution Amount for the Related Month shall have been paid to the Class B Noteholders.
No payments on account of principal shall be made with respect to the Class C Notes on any Distribution Date during the Series 2019-3 Controlled Amortization Period unless an amount equal to the Class A Controlled Distribution Amount for the Related Month shall have been paid to the Class A Noteholders and an amount equal to the Class B Controlled Distribution Amount for the Related Month shall have been paid to the Class B Noteholders.
No payments on account of principal shall be made with respect to the Class C Notes on any Distribution Date during the Series 2011-3 Controlled Amortization Period unless an amount equal to the Class A Controlled Distribution Amount for the Related Month shall have been paid to the Class A Noteholders and an amount equal to the Class B Controlled Distribution Amount for the Related Month shall have been paid to the Class B Noteholders.
No payments on account of principal shall be made with respect to the Class C Notes on any Distribution Date during the Series 2024-1 Controlled Amortization Period unless an amount equal to the Class A Controlled Distribution Amount for the Related Month shall have been paid to the Class A Noteholders and an amount equal to the Class B Controlled Distribution Amount for the Related Month shall have been paid to the Class B Noteholders.
No payments on account of principal shall be made with respect to the Class C Notes on any Distribution Date during the Series 2020-2 Controlled Amortization Period unless an amount equal to the Class A Controlled Distribution Amount for the Related Month shall have been paid to the Class A Noteholders and an amount equal to the Class B Controlled Distribution Amount for the Related Month shall have been paid to the Class B Noteholders.
No payments on account of principal shall be made with respect to the Class C Notes on any Distribution Date during the Series 2017-2 Controlled Amortization Period unless an amount equal to the Class A Controlled Distribution Amount for the Related Month shall have been paid to the Class A Noteholders and an amount equal to the Class B Controlled Distribution Amount for the Related Month shall have been paid to the Class B Noteholders.