Specified Distribution Date definition
Examples of Specified Distribution Date in a sentence
The Trustee shall, subject to Section 5.9 hereof, distribute the requested amount to the Ceding Insurer or its designee on the Specified Distribution Date, but only against the concurrent issuance and delivery to the Grantor by XL Capital of an amount of XL Preferred Securities having an aggregate liquidation preference that is equal to the amount of funds so distributed.
Any distribution of Payment Account Net Earnings to XL Capital pursuant to this Section 5.7 shall be limited to the Payment Account Net Earnings in the Payment Account on the Specified Distribution Date after any distributions that are required to be made to the Trustee, the Asset Swap Counterparty, the Interest Rate Swap Counterparty, the Ceding Insurers and XLIB, or any of them, on the Specified Distribution Date have been made.
The Trustee shall, subject to Section 5.9 hereof, distribute the requested amount to the Interest Rate Swap Counterparty or its designee on the Specified Distribution Date.
The Trustee shall, subject to Section 5.9 hereof, distribute the requested amount to the Asset Swap Counterparty or its designee on the Specified Distribution Date.
The Trustee shall, subject to Section 5.9 hereof and the limitation set forth in the immediately succeeding sentence, distribute the requested amount to XL Capital or its designee on the Specified Distribution Date.
The Trustee shall, subject to Section 5.9 hereof, distribute the requested amount to XLIB or its designee on the Specified Distribution Date, but only against the concurrent issuance and delivery to the Grantor by XL Capital of an amount of XL Preferred Securities having an aggregate liquidation preference that is equal to the amount of funds so distributed.
The Trustee shall, subject to Section 5.9 hereof, distribute the requested amount to the Grantor or its designee on the Specified Distribution Date.