Certificate Paying Agent Sample Clauses
The Certificate Paying Agent clause designates a party responsible for making payments to certificate holders under a financial agreement, such as a trust or securitization. This agent typically receives funds from the issuer or trustee and distributes them to investors according to the payment schedule and priorities set out in the agreement. By clearly assigning payment duties, the clause ensures timely and accurate disbursement of funds, reducing confusion and administrative risk for all parties involved.
Certificate Paying Agent. (a) The Certificate Paying Agent shall make distributions to Certificateholders from the Certificate Distribution Account on behalf of the Trust in accordance with the provisions of the Certificates and Section 5.01 hereof from payments remitted to the Certificate Paying Agent by the Indenture Trustee pursuant to Section 3.05 of the Indenture. The Trust hereby appoints Deutsche Bank National Trust Company as Certificate Paying Agent and Deutsche Bank National Trust Company hereby accepts such appointment and further agrees that it will be bound by the provisions of this Trust Agreement relating to the Certificate Paying Agent and shall:
(i) hold all sums held by it for the payment of amounts due with respect to the Certificates in trust for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as herein provided;
(ii) give the Owner Trustee notice of any default by the Trust of which a Responsible Officer of the Certificate Paying Agent has actual knowledge in the making of any payment required to be made with respect to the Certificates;
(iii) at any time during the continuance of any such default, upon the written request of the Owner Trustee forthwith pay to the Owner Trustee on behalf of the Trust all sums so held in Trust by such Certificate Paying Agent;
(iv) not resign from its position as Certificate Paying Agent so long as it is Indenture Trustee except that it shall immediately resign as Certificate Paying Agent and forthwith pay to the Owner Trustee on behalf of the Trust all sums held by it in trust for the payment of Certificates if at any time it ceases to meet the standards under this Section 3.10 required to be met by the Certificate Paying Agent at the time of its appointment;
(v) comply with all requirements of the Code with respect to the withholding from any payments made by it on any Certificates of any applicable withholding taxes imposed thereon and with respect to any applicable reporting requirements in connection therewith; and
(vi) not institute bankruptcy proceedings against the Issuer in connection with this Trust Agreement.
(b) The Trust may revoke such power and remove the Certificate Paying Agent if it determines in its sole discretion that the Certificate Paying Agent shall have failed to perform its obligations under this Trust Agreement in any material respect. In the event that Deutsche Bank National Trust Company shall no longer be the Certificate Paying Agent...
Certificate Paying Agent. (a) The Certificate Paying Agent shall make distributions to Certificateholders from the Certificate Distribution Account on behalf of the Trust in accordance with the provisions of the Certificates and Section 5.01 hereof from payments remitted to the Certificate Paying Agent by the Indenture Trustee pursuant to Section 3.05
Certificate Paying Agent. Distributions to be made in respect of the Certificates pursuant to this Agreement, or the Series Supplement shall be made by the Certificate Paying Agent, by wire transfer or check mailed to the Certificateholder of record in the Certificate Register without the presentation or surrender of the Certificate or the making of any notation thereon, except as provided in Section 9.1(c) with respect to the final distribution on a Certificates.
Certificate Paying Agent. Section 3.11. [Ownership.....................................................
Certificate Paying Agent. 10 3.11. OWNERSHIP.................................................................................12 Section Page ARTICLE IV
Certificate Paying Agent. 16 ARTICLE
Certificate Paying Agent. Authority and Duties of Owner Trustee
Certificate Paying Agent. The Issuer hereby appoints ▇▇▇▇▇ Fargo Bank, N.A. as Certificate Paying Agent, and ▇▇▇▇▇ Fargo Bank, N.A. hereby accepts such appointment and further agrees that it will be bound by the provisions of this Agreement relating to the Certificate Paying Agent and will:
Certificate Paying Agent. 13 ARTICLE IV
Certificate Paying Agent. The Certificate Paying Agent shall make distributions to Certificateholders from the Payment Account pursuant to Section 3.05 of the Indenture. The Issuer may revoke such power and remove the Certificate Paying Agent if the Administrator determines in its sole discretion that the Certificate Paying Agent shall have failed to perform its obligations under this Trust Agreement or as set forth in Section 3.03 of the Indenture in any material respect; provided that at the time of such removal, the Paying Agent shall also be removed by the Issuer under the Indenture. The Bank of New York shall be permitted to resign as Certificate Paying Agent upon 30 days written notice to the Owner Trustee; provided that The Bank of New York is also resigning as Paying Agent under the Indenture at such time. In the event that The Bank of New York shall no longer be the Certificate Paying Agent and Paying Agent under the Indenture, the Administrator shall appoint a successor to act as Certificate Paying Agent (which shall be a bank or trust company) and which shall also be the successor Paying Agent under the Indenture. The Administrator shall cause such successor Certificate Paying Agent or any additional Certificate Paying Agent appointed by the Administrator to execute and deliver to the Owner Trustee an instrument to the effect set forth in Section 3.03 of the Indenture as it relates to the Certificate Paying Agent. The Certificate Paying Agent shall return all unclaimed funds to the Issuer and upon removal of a Certificate Paying Agent such Certificate Paying Agent shall also return all funds in its possession to the Issuer. The provisions of Sections 7.01, 7.03, 7.04 and 8.01 shall apply to the Certificate Paying Agent to the extent applicable. Any reference in this Agreement to the Certificate Paying Agent shall include any co-paying agent unless the context requires otherwise.