Common use of Procedure Upon Termination of Trust Clause in Contracts

Procedure Upon Termination of Trust. (a) Notice of any termination pursuant to the provisions of Section 10.1, specifying the Distribution Date upon which the final distribution shall be made, shall be given promptly by the Trustee by first class mail to the Paying Agent, the Rating Agencies, the Swap Counterparty, the Class R-I, Class R-II, REMIC Regular, Class [A-3-1FL] and Class [EI] Certificateholders mailed no later than ten days prior to the date of such termination. Such notice shall specify (A) the Distribution Date upon which final distribution on the Class R-I, Class R-II, REMIC Regular, Class [A-3-1FL] and Class [EI] Certificates will be made, and upon presentation and surrender of the Class [R-I], Class [R-II], REMIC Regular, Class [A-3-1FL] and Class [EI] Certificates at the office or agency of the Certificate Registrar therein specified, and (B) that the Record Date otherwise applicable to such Distribution Date is not applicable, distribution being made only upon presentation and surrender of the Class [R-I], Class [R-II], -260- REMIC Regular, Class [A-3-1FL] and Class [EI] Certificates at the office or agency of the Certificate Registrar therein specified. The Trustee shall give such notice to the Depositor and the Certificate Registrar at the time such notice is given to Holders of the Class [R-I], Class [R-II], REMIC Regular, Class [A-3-1FL] and Class [EI] Certificates. Upon any such termination, the duties of the Certificate Registrar with respect to the Class [R-I], Class [R-II], REMIC Regular, Class [A-3-1FL] and Class [EI] Certificates shall terminate and the Trustee shall terminate, or request the Master Servicer and the Paying Agent to terminate, the Certificate Accounts and the Distribution Account and any other account or fund maintained with respect to the Certificates, subject to the Paying Agent's obligation hereunder to hold all amounts payable to the Class [R-I], Class [R-II], REMIC Regular, Class [A-3-1FL] and Class [EI] Certificateholders in trust without interest pending such payment.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Capital I Inc)

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Procedure Upon Termination of Trust. (a) Notice of any termination pursuant to the provisions of Section 10.1, specifying the Distribution Date upon which the final distribution shall be made, shall be given promptly by the Trustee Paying Agent by first class mail to the Paying AgentTrustee, the Rating Agencies, the Swap Counterparty, the Class R-I, Class R-II, Class R-III, REMIC Regular, Class [A-3-1FL] Floating Rate and Class [EI] EI Certificateholders mailed no later than ten days prior to the date of such termination. Such notice shall specify (A) the Distribution Date upon which final distribution on the Class R-I, Class R-II, Class R-III, REMIC Regular, Class [A-3-1FL] Floating Rate and Class [EI] EI Certificates will be made, and upon presentation and surrender of the Class [R-I], Class [R-II], Class R-III, REMIC Regular, Class [A-3-1FL] Floating Rate and Class [EI] EI Certificates at the office or agency of the Certificate Registrar therein specified, and (B) that the Record Date otherwise applicable to such Distribution Date is not applicable, distribution being made only upon presentation and surrender of the Class [R-I], Class [R-II], -260- Class R-III, REMIC Regular, Class [A-3-1FL] Floating Rate and Class [EI] EI Certificates at the office or agency of the Certificate Registrar therein specified. The Trustee Paying Agent shall give such notice to the Depositor and the Certificate Registrar at the time such notice is given to Holders of the Class [R-I], Class [R-II], Class R-III, REMIC Regular, Class [A-3-1FL] Floating Rate and Class [EI] EI Certificates. Upon any such termination, the duties of the Certificate Registrar with respect to the Class [R-I], Class [R-II], Class R-III, REMIC Regular, Class [A-3-1FL] Floating Rate and Class [EI] EI Certificates shall terminate and the Trustee shall terminate, or request the Master Servicer and the Paying Agent Servicers to terminate, the Certificate Accounts and the Distribution Account and any other account or fund maintained with respect to the Certificates, subject to the Paying Agent's obligation hereunder to hold all amounts payable to the Class [R-I], Class [R-II], Class R-III, REMIC Regular, Class [A-3-1FL] Floating Rate and Class [EI] EI Certificateholders in trust without interest pending such payment.

Appears in 1 contract

Samples: Mortgage Loan Purchase Agreement (Morgan Stanley Capital I Trust 2007-Iq16)

Procedure Upon Termination of Trust. (a) Notice of any termination pursuant to the provisions of Section 10.1, specifying the Distribution Date upon which the final distribution shall be made, shall be given promptly by the Trustee by first class mail to the Paying Agent, the Rating Agencies, the Swap Counterparty, the Class R-I, Class R-II, REMIC Regular, Class [A-3-1FL] , Class EI and Class [EI] -L3 Certificateholders mailed no later than ten days prior to the date of such termination. Such notice shall specify (A) the Distribution Date upon which final distribution on the Class R-I, Class R-II, REMIC Regular, Class [A-3-1FL] 1FL Class EI and Class [EI] -L3 Certificates will be made, and upon presentation and surrender of the Class [R-I], Class [R-II], REMIC Regular, Class [A-3-1FL] , Class EI and Class [EI] -L3 Certificates at the office or agency of the Certificate Registrar therein specified, and (B) that the Record Date otherwise applicable to such Distribution Date is not applicable, distribution being made only upon presentation and surrender of the Class [R-I], Class [R-II], -260- REMIC Regular, Class [A-3-1FL] , Class EI and Class [EI] -L3 Certificates at the office or agency of the Certificate Registrar therein specified. The Trustee shall give such notice to the Depositor and the Certificate Registrar at the time such notice is given to Holders of the Class [R-I], Class [R-II], REMIC Regular, Class [A-3-1FL] , Class EI and Class [EI] -L3 Certificates. Upon any such termination, the duties of the Certificate Registrar with respect to the Class [R-I], Class [R-II], REMIC Regular, Class [A-3-1FL] , Class EI and Class [EI] -L3 Certificates shall terminate and the Trustee shall terminate, or request the Master Servicer Servicers and the Paying Agent to terminate, the Certificate Accounts and the Distribution Account and any other account or fund maintained with respect to the Certificates, subject to the Paying Agent's obligation hereunder to hold all amounts payable to the Class [R-I], Class [R-II], REMIC Regular, Class [A-3-1FL] , Class EI and Class [EI] -L3 Certificateholders in trust without interest pending such payment.

Appears in 1 contract

Samples: Agreement (Morgan Stanley Capital I Trust 2005 IQ10)

Procedure Upon Termination of Trust. (a) Notice of any termination pursuant to the provisions of Section 10.1, specifying the Distribution Date upon which the final distribution shall be made, shall be given promptly by the Trustee by first class mail to the Paying Agent, the Rating Agencies, the Swap Counterparty, the Class R-I, Class R-II, REMIC Regular, Class [A-3-1FL] and Class [EI] Certificateholders mailed no later than ten days prior to the date of such termination. Such notice shall specify (A) the Distribution Date upon which final distribution on the Class R-I, Class R-II, REMIC Regular, Class [A-3-1FL] and Class [EI] Certificates will be made, and upon presentation and surrender of the Class [R-I], Class [R-II], REMIC Regular, Class [A-3-1FL] and Class [EI] Certificates at the office or agency of the Certificate Registrar therein specified, and (B) that the Record Date otherwise applicable to such Distribution Date is not applicable, distribution being made only upon presentation and surrender of the Class [R-I], Class [R-II], -260- REMIC Regular, Class [A-3-1FL] and Class [EI] Certificates at the office or agency of the Certificate Registrar therein specified. The Trustee shall give such notice to the Depositor and the Certificate Registrar at the time such notice is given to Holders of the Class [R-I], Class [R-II], REMIC Regular, Class [A-3-1FL] and Class [EI] Certificates. Upon any such termination, the duties of the Certificate Registrar with respect to the Class [R-I], Class [R-II], REMIC Regular, Class [A-3-1FL] and Class [EI] Certificates shall terminate and the Trustee shall terminate, or request the Master Servicer and the Paying Agent to terminate, the Certificate Accounts and the Distribution Account and any other account or fund maintained with respect to the Certificates, subject to the Paying Agent's ’s obligation hereunder to hold all amounts payable to the Class [R-I], Class [R-II], REMIC Regular, Class [A-3-1FL] and Class [EI] Certificateholders in trust without interest pending such payment.

Appears in 1 contract

Samples: Distribution Instructions (Morgan Stanley Capital I Inc.)

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Procedure Upon Termination of Trust. (a) Notice of any termination pursuant to the provisions of Section 10.1, specifying the Distribution Date upon which the final distribution shall be made, shall be given promptly by the Trustee by first class mail to the Paying Agent, the Rating Agencies, the Swap Counterparty, the Class R-I, Class R-II, REMIC Regular, Class [A-3-1FL] Regular and Class [EI] EI Certificateholders mailed no later than ten days prior to the date of such termination. Such notice shall specify (A) the Distribution Date upon which final distribution on the Class R-I, Class R-II, REMIC Regular, Class [A-3-1FL] Regular and Class [EI] EI Certificates will be made, and upon presentation and surrender of the Class [R-I], Class [R-II], REMIC Regular, Class [A-3-1FL] Regular and Class [EI] EI Certificates at the office or agency of the Certificate Registrar therein specified, and (B) that the Record Date otherwise applicable to such Distribution Date is not applicable, distribution being made only upon presentation and surrender of the Class [R-I], Class [R-II], -260- REMIC Regular, Class [A-3-1FL] Regular and Class [EI] EI Certificates at the office or agency of the Certificate Registrar therein specified. The Trustee shall give such notice to the Depositor and the Certificate Registrar at the time such notice is given to Holders of the Class [R-I], Class [R-II], REMIC Regular, Class [A-3-1FL] Regular and Class [EI] EI Certificates. Upon any such termination, the duties of the Certificate Registrar with respect to the Class [R-I], Class [R-II], REMIC Regular, Class [A-3-1FL] Regular and Class [EI] EI Certificates shall terminate and the Trustee shall terminate, or request the Master Servicer Servicers and the Paying Agent to terminate, the Certificate Accounts and the Distribution Account and any other account or fund maintained with respect to the Certificates, subject to the Paying Agent's obligation hereunder to hold all amounts payable to the Class [R-I], Class [R-II], REMIC Regular, Class [A-3-1FL] Regular and Class [EI] EI Certificateholders in trust without interest pending such payment.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2006-Iq11)

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