Certificate Distributions Sample Clauses

The Certificate Distributions clause outlines the process and conditions under which certificates—such as stock certificates, membership certificates, or other evidences of ownership—are issued and delivered to entitled parties. Typically, this clause specifies the timing, method, and requirements for distributing certificates, such as upon completion of a transaction, after payment, or following approval by a governing body. Its core practical function is to ensure that ownership interests are formally and accurately documented, thereby reducing disputes and providing clear evidence of rights or entitlements.
Certificate Distributions. (a) On each Distribution Date, the Trustee shall make the following allocations from the Asset Proceeds Account of an amount equal to the Group I Interest Funds in the following order of priority, and each such allocation shall be made only after all preceding allocations shall have been made until such amount shall have been fully allocated for such Distribution Date: (i) to the Group I Class A Certificates and the Class A-IO-I Component, the Current Interest and any Interest Carry Forward Amount for the Group I Class A Certificates and the Class A-IO-I Component; provided, however, if the Group I Interest Funds and Group I Pledged Prepayment Penalties are not sufficient to make a full distribution of the Current Interest and any Interest Carry Forward Amount with respect to all the Group I Class A Certificates and the Class A-IO-I Component, such amount will be distributed pro rata among each Class of the Group I Class A Certificates and the Class A-IO-I Component based on the ratio of (x) the Current Interest and Interest Carry Forward Amount for each Class of the Group I Class A Certificates and the Class A-IO-I Component to (y) the total amount of Current Interest and any Interest Carry Forward Amount for the Group I Class A Certificates and the Class A-IO-I Component; (ii) to the Class MF-1 Certificates, the Class MF-1 Current Interest; (iii) to the Class MF-2 Certificates, the Class MF-2 Current Interest; (iv) to the Class BF-1 Certificates, the Class BF-1 Current Interest; and (v) any remainder pursuant to Section 3.03(e) hereof. (b) On each Distribution Date, the Trustee shall make the following allocations from the Asset Proceeds Account of an amount equal to the Group II Interest Funds in the following order of priority, and each such allocation shall be made only after all preceding allocations shall have been made until such amount shall have been fully allocated for such Distribution Date: (i) to the Group II Class A Certificates and the Class A-IO-II Component, the Current Interest and any Interest Carry Forward Amount for the Group II Class A Certificates and the Class A-IO-II Component; provided, however, if the Group II Interest Funds and Group II Pledged Prepayment Penalties are not sufficient to make a full distribution of the Current Interest and any Interest Carry Forward Amount with respect to the Group II Class A Certificates and the Class A-IO-II Component, such amount will be distributed pro rata among the Group II Class A Certifi...
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Certificate Distributions. 41 Section 3.04. Reports to the Depositor and the Trustee:................ 46 Section 3.05. Reports by or on Behalf of the Master Servicer........... 47 Section 3.06. Advance Facility......................................... 48 Article IV The Certificates................................................ 49 Section 4.01. The Certificates......................................... 49 Section 4.02. Denominations............................................ 50
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Certificate Distributions. (a) On each Distribution Date, the Trustee shall make the following allocations from the Distribution Account of an amount equal to the Group I Interest Funds in the following order of priority, and each such allocation shall be made only after all preceding allocations have been made until such amount shall have been fully allocated for such Distribution Date: (i) to the Group I Class A Certificates, the Current Interest and any Interest Carry Forward Amount for the Group I Class A Certificates; provided, however, if such amount is not sufficient to make a full distribution of the Current Interest and any Interest Carry Forward Amount with respect to all the Group I Class A Certificates, such amount will be distributed pro rata among each Class of the Group I Class A Certificates based on the ratio of (x) the Current Interest and Interest Carry Forward Amount for each Class of the Group I Class A Certificates to (y) the total amount of Current Interest and any Interest Carry Forward Amount for the Group I Class A Certificates; (ii) to the Class MF-1 Certificates, the Class MF-1 Current Interest; (iii) to the Class MF-2 Certificates, the Class MF-2 Current Interest;
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Certificate Distributions. (a) On each Distribution Date, the Trustee shall make the following allocations from the Distribution Account of an amount equal to the Group I Interest Funds in the following order of priority, and each such allocation shall be made only after all preceding allocations shall have been made until such amount shall have been fully allocated for such Distribution Date:
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Certificate Distributions. (a) On each Distribution Date, the Trustee shall make the following allocations from the Distribution Account of an amount equal to the Interest Funds in the following order of priority, and each such allocation shall be made only after all preceding allocations shall have been made until such amount shall have been fully allocated for such Distribution Date: (i) to the Class AF Certificates, the Class AF Current Interest and any Interest Carry Forward Amount for the Class AF Certificates; (ii) to the Class MF-1 Certificates, the Class MF-1 Current Interest; (iii) to the Class MF-2 Certificates, the Class MF-2 Current Interest; (iv) to the Class BF Certificates, the Class BF Current Interest; and (v) any remainder pursuant to Section 3.02(c) hereof. (b) On each Distribution Date, the Trustee shall make the following allocations from the Distribution Account of an amount equal to the Principal Distribution Amount in the following order of priority, and each such allocation shall be made only after all preceding allocations shall have been made until such amount shall have been fully allocated for such Distribution Date: (i) to the Class AF Certificates, the Class AF Principal Distribution Amount; (ii) to the Class MF-1 Certificates, the Class MF-1 Principal Distribution Amount; (iii) to the Class MF-2 Certificates, the Class MF-2 Principal Distribution Amount; (iv) to the Class BF Certificates, the Class BF Principal Distribution Amount ; and (v) to the Class R Certificates;
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Certificate Distributions. Subject to the provisions of Sections 5.04 and 6.02, the Issuer Certificate Agent shall distribute all Available Funds pursuant to and in accordance with this Section 5.03.
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Certificate Distributions. 15 Section 3.02. Reports to the Depositor and the Trustee:..................... 16 Section 3.03.
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Certificate Distributions. 15 Section 3.02. Reports to the Depositor and the Trustee:..................... 16 Section 3.03.
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Related to Certificate Distributions

  • Certificate Distribution Account The Certificate Distribution Account shall be established as a non-interest bearing trust account pursuant to Section 4.1 of the Sale and Servicing Agreement. Funds on deposit in the Certificate Distribution Account shall be held uninvested. 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. Except as otherwise provided herein, in the Indenture or in the Sale and Servicing Agreement, the Certificate Distribution Account shall be under the sole dominion and control of the Certificate Paying Agent for the benefit of the Certificateholders. If, at any time, the Certificate Distribution Account ceases to be an Eligible Account, the Servicer on behalf of the Issuer, shall, within ten (10) Business Days (or such longer period) after becoming aware of the fact, establish a new Certificate Distribution Account as an Eligible Account and shall direct the Certificate Paying Agent to transfer any cash then on deposit in the Certificate Distribution Account to such new Certificate Distribution Account.

  • Residual Distributions If the Liquidation Preference has been paid in full to all holders of Designated Preferred Stock and the corresponding amounts payable with respect of any other stock of the Issuer ranking equally with Designated Preferred Stock as to such distribution has been paid in full, the holders of other stock of the Issuer shall be entitled to receive all remaining assets of the Issuer (or proceeds thereof) according to their respective rights and preferences.

  • Final Distributions Upon the winding up of the LLC, the assets must be distributed as follows: (a) to the LLC creditors; (b) to Members in satisfaction of liabilities for distributions; and (c) to Members first for the return of their contributions and secondly respecting their LLC interest, in the proportions in which the Members share in profits and losses.

  • Liquidating Distributions Notwithstanding anything to the contrary in this Article VII or in Section 8.3 of the Master Agreement, upon the sale of the Property or the dissolution and liquidation of the Series in accordance with the provisions of this Agreement and of Section 8.3 of the Master Agreement, the proceeds of liquidation of the Series or the sale of the Property will be distributed within ninety (90) days of the date of sale of the Property or the dissolution and liquidation in the following order and priority: (i) First, to creditors of the Series, including the Members who are creditors, to the extent otherwise permitted by law, in satisfaction (whether by payment or the making of reasonable provision for payment thereof) of all debts, liabilities, obligations and expenses of the Series, including, without limitation, the expenses incurred in connection with the liquidation of the Series; and (ii) Second, to the Members pro rata in proportion to their holdings of Shares, with such Distributions to be made by the end of the Fiscal Year during which the liquidation occurs (or, if later, ninety (90) days after the date of the liquidation).

  • Distributions from the Certificate Account (a) On each Distribution Date the Trustee (or the Paying Agent on behalf of the Trustee) shall withdraw from the Certificate Account the Total Distribution Amount (to the extent such amount is on deposit in the Certificate Account) and shall allocate such amount to the interests issued in respect of each REMIC created pursuant to this Agreement and shall distribute such amount as specified in this Section. All allocations and distributions made among and with respect to Pool 1, Pool 2, Pool 3 and Pool 4 in this Section shall be made concurrently. (b) On each Distribution Date, the Trustee shall distribute the Interest Remittance Amount for Pool 1 for such date in the following order of priority: (i) pro rata, to each Class of Group 1 Senior Certificates, Current Interest for each such Class and such Distribution Date and any Carryforward Interest for each such Class and such Distribution Date; provided, however, that any shortfall in Current Interest shall be allocated among such Classes in proportion to the amount of Current Interest that would otherwise be distributable thereon; (ii) pro rata, to each Class of Group 2, Group 3 and Group 4 Senior Certificates, Current Interest (taking into account distributions pursuant to subsections 5.02(c)(i), 5.02(d)(i) and 5.02(e)(i) below, as applicable) for each such Class and such Distribution Date and any Carryforward Interest for each such Class and such Distribution Date; provided, however, that any shortfall in Current Interest shall be allocated among such Classes in proportion to the amount of Current Interest that would otherwise be distributable thereon; (iii) pro rata, to each Class of Subordinate Senior Certificates, Current Interest for each such Class and such Distribution Date and Carryforward Interest for each such Class and such Distribution Date; (iv) sequentially, to the Class M1, Class M2, Class M3, Class M4, Class M5, Class M6 and Class M7 Certificates, in that order (the “Class M Priority”), Current Interest for each such Class and such Distribution Date and any Carryforward Interest for each such Class and such Distribution Date; (v) to the Credit Risk Manager, the product of (a) the Credit Risk Manager’s Fee and (b) the Pool Percentage for Pool 1 for such Distribution Date; (vi) to the Trustee, any amounts reimbursable pursuant to Section 4.04(b)(i) and not previously reimbursed to the Trustee; and (vii) for application as part of Monthly Excess Cashflow for such Distribution Date, as provided in subsection (g) of this Section, any Interest Remittance Amount for Pool 1 remaining after application pursuant to clauses (i) through (vi) above. (c) On each Distribution Date, the Trustee shall distribute the Interest Remittance Amount for Pool 2 for such date in the following order of priority: (i) pro rata, to each Class of Group 2 Senior Certificates, Current Interest for each such Class and such Distribution Date and any Carryforward Interest for each such Class and such Distribution Date; provided, however, that any shortfall in Current Interest shall be allocated among such Classes in proportion to the amount of Current Interest that would otherwise be distributable thereon; (ii) pro rata, to each Class of Group 1, Group 3 and Group 4 Senior Certificates, Current Interest (taking into account distributions pursuant to subsection 5.02(b)(i) above, and subsections 5.02(d)(i) and 5.02(e)(i) below, as applicable) for each such Class and such Distribution Date and any Carryforward Interest for each such Class and such Distribution Date; provided, however, that any shortfall in Current Interest shall be allocated among such Classes in proportion to the amount of Current Interest that would otherwise be distributable thereon; (iii) pro rata, to each Class of Subordinate Senior Certificates, Current Interest for each such Class and such Distribution Date and any Carryforward Interest for each such Class and such Distribution Date; (iv) sequentially, to each Class of Subordinate Certificates, in accordance with the Class M Priority, Current Interest for each such Class and such Distribution Date and any Carryforward Interest for each such Class and such Distribution Date; (v) to the Credit Risk Manager, the product of (a) the Credit Risk Manager’s Fee and (b) the Pool Percentage for Pool 2 for such Distribution Date; (vi) to the Trustee, any amounts reimbursable pursuant to Section 4.04(b)(i) and not previously reimbursed to the Trustee; and (vii) for application as part of Monthly Excess Cashflow for such Distribution Date, as provided in subsection (g) of this Section, any Interest Remittance Amount for Pool 2 remaining after application pursuant to clauses (i) through (vi) above. (d) On each Distribution Date, the Trustee shall distribute the Interest Remittance Amount for Pool 3 for such date in the following order of priority: (i) pro rata, to each Class of Group 3 Senior Certificates, Current Interest for each such Class and such Distribution Date and any Carryforward Interest for each such Class and such Distribution Date; provided, however, that any shortfall in Current Interest shall be allocated among such Classes in proportion to the amount of Current Interest that would otherwise be distributable thereon; (ii) pro rata, to each Class of Group 1, Group 2 and Group 4 Senior Certificates, Current Interest (taking into account distributions pursuant to subsections 5.02(b)(i) and 5.02(c)(i) above and subsection 5.02(e)(i) below, as applicable) for each such Class and such Distribution Date and any Carryforward Interest for each such Class and such Distribution Date; provided, however, that any shortfall in Current Interest shall be allocated among such Classes in proportion to the amount of Current Interest that would otherwise be distributable thereon; (iii) pro rata, to each Class of Subordinate Senior Certificates, Current Interest for each such Class and such Distribution Date and any Carryforward Interest for each such Class and such Distribution Date; (iv) sequentially, to each Class of Subordinate Certificates, in accordance with the Class M Priority, Current Interest for each such Class and such Distribution Date and any Carryforward Interest for each such Class and such Distribution Date; (v) to the Credit Risk Manager, the product of (a) the Credit Risk Manager’s Fee and (b) the Pool Percentage for Pool 3 for such Distribution Date; (vi) to the Trustee, any amounts reimbursable pursuant to Section 4.04(b)(i) and not previously reimbursed to the Trustee; and (vii) for application as part of Monthly Excess Cashflow for such Distribution Date, as provided in subsection (g) of this Section, any Interest Remittance Amount for Pool 3 remaining after application pursuant to clauses (i) through (vi) above. (e) On each Distribution Date, the Trustee shall distribute the Interest Remittance Amount for Pool 4 for such date in the following order of priority: (i) pro rata, to each Class of Group 4 Senior Certificates, Current Interest for each such Class and such Distribution Date and any Carryforward Interest for each such Class and such Distribution Date; provided, however, that any shortfall in Current Interest shall be allocated among such Classes in proportion to the amount of Current Interest that would otherwise be distributable thereon; (ii) pro rata, to each Class of Group 1, Group 2 and Group 3 Senior Certificates, Current Interest (taking into account distributions pursuant to subsections 5.02(b)(i), 5.02(c)(i) and 5.02(d)(i) above, as applicable) for each such Class and such Distribution Date and any Carryforward Interest for each such Class and such Distribution Date; provided, however, that any shortfall in Current Interest shall be allocated among such Classes in proportion to the amount of Current Interest that would otherwise be distributable thereon; (iii) pro rata, to each Class of Subordinate Senior Certificates, Current Interest for each such Class and such Distribution Date and any Carryforward Interest for each such Class and such Distribution Date; (iv) sequentially, to each Class of Subordinate Certificates, in accordance with the Class M Priority, Current Interest for each such Class and such Distribution Date and any Carryforward Interest for each such Class and such Distribution Date; (v) to the Credit Risk Manager, the product of (a) the Credit Risk Manager’s Fee and (b) the Pool Percentage for Pool 4 for such Distribution Date; (vi) to the Trustee, any amounts reimbursable pursuant to Section 4.04(b)(i) and not previously reimbursed to the Trustee; and (vii) for application as part of Monthly Excess Cashflow for such Distribution Date, as provided in subsection (g) of this Section, any Interest Remittance Amount for Pool 4 remaining after application pursuant to clauses (i) through (vi) above. (f) On each Distribution Date, the Trustee shall distribute the Principal Distribution Amount with respect to each Mortgage Pool for such date as follows: (i) On each Distribution Date (a) prior to the Stepdown Date or (b) with respect to which a Trigger Event is in effect, the Trustee shall make the following distributions, concurrently: (A) For Pool 1: Until the aggregate Certificate Principal Amount of the Offered Certificates equals the Target Amount for such Distribution Date, the Principal Distribution Amount for Pool 1 will be distributed in the following order of priority: (1) to the Class A1 and Class A2 Certificates, sequentially, in that order, until the Class Principal Amount of each such Class has been reduced to zero; (2) concurrently, to each Class of the Group 2, Group 3 and Group 4 Senior Certificates (in each case in proportion to the aggregate Class Principal Amount of the related Group after giving effect to distributions pursuant to subsections 5.02 (f)(i)(B)(1), 5.02(f)(i)(C)(1) and 5.02