DELIVERY OF NOTES; DISTRIBUTIONS; REPORTS TO NOTEHOLDERS Clause Samples

DELIVERY OF NOTES; DISTRIBUTIONS; REPORTS TO NOTEHOLDERS. Section 5.01. Delivery and Payment for the Notes...............................................................27 Section 5.02. Distributions....................................................................................27 Section 5.03. Reports and Statements to Noteholders............................................................28 ARTICLE VI SERIES [200_-_] PAY OUT EVENTS.................................................................................28 ARTICLE VII REDEMPTION; FINAL DISTRIBUTIONS; SERIES TERMINATION
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DELIVERY OF NOTES; DISTRIBUTIONS; REPORTS TO NOTEHOLDERS. Section 5.01. Delivery and Payment for the Series 2003-1 Notes................................................ 32 Section 5.02. Distributions................................................................................... 32
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DELIVERY OF NOTES; DISTRIBUTIONS; REPORTS TO NOTEHOLDERS. SECTION 5.01. DELIVERY AND PAYMENT FOR THE VFN SERIES 2003-3 NOTES. Issuer shall execute and issue, and Indenture Trustee shall authenticate, the VFN Series 2003-3 Notes in accordance with Section 2.03 of the Indenture. Indenture Trustee shall deliver the VFN Series 2003-3 Notes to or upon the written order of Issuer when so authenticated.
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DELIVERY OF NOTES; DISTRIBUTIONS; REPORTS TO NOTEHOLDERS. Section 5.01. Delivery and Payment for the Series 2023-1 Notes 43 Section 5.02. Distributions 44 Section 5.03. Reports and Statements to Series 2023-1 Noteholders 44 Section 5.04. Annual Servicer’s Certificate 45 Section 5.05. Annual Independent Accountants Servicing Report 46 ARTICLE VI Series 2023-1 Pay Out Events 47
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DELIVERY OF NOTES; DISTRIBUTIONS; REPORTS TO NOTEHOLDERS. Section 5.01. Delivery and Payment for the VFN Series 2003-3 Notes...................................... 46 Section 5.02. Distributions............................................................................. 46 Section 5.03. Reports and Statements to VFN Series 2003-3 Noteholders................................... 47
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Related to DELIVERY OF NOTES; DISTRIBUTIONS; REPORTS TO NOTEHOLDERS

  • Trust Accounts Distributions Statements to Noteholders SECTION 5.1. Establishment of Trust Accounts...............................43 SECTION 5.2. Pre-Funding Period Reserve Account............................47 SECTION 5.3. Certain Reimbursements to the Servicer........................48 SECTION 5.4. Application of Collections....................................48 SECTION 5.5. Withdrawals from Series 1997-1 Spread Account.................48 SECTION 5.6. Additional Deposits...........................................49 SECTION 5.7. Distributions.................................................49 SECTION 5.8. Note Distribution Account.....................................52 SECTION 5.9. Pre-Funding Account...........................................53 SECTION 5.10. Statements to Noteholders....................................53 SECTION 5.11. Optional Deposits by the Insurer.............................54

  • Statements to Noteholders (a) On or prior to each Distribution Date, the Indenture Trustee shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related Collection Period; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture Trustee’s internet website, with the use of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at ▇▇▇▇://▇▇.▇▇▇▇▇▇▇▇▇▇.▇▇▇ or at such other address as shall be specified by the Indenture Trustee from time to time in writing to the Noteholders. In connection with providing access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

  • Payments to Noteholders 8.1 Payments in respect of Current Issuer Notes: Each Paying Agent acting through its Specified Office shall make payments of interest and principal in respect of the Current Issuer Notes in accordance with the Current Issuer Conditions and so long as the Current Issuer Notes are evidenced by Global Note Certificates, the terms thereof, provided however, that: (a) no Paying Agent will make any payment of interest or principal in respect of any class of the Current Issuer Notes in an amount which is greater than the amount of interest or principal payable in accordance with the Current Issuer Conditions in respect of such class of Current Issuer Notes and notified to the Paying Agents in accordance with Clause 7.4 (Confirmation of Amounts Payable in respect of the Current Issuer Notes); (b) whilst the Current Issuer Notes of any class continue to be represented by Global Note Certificates, all payments of principal or interest (as the case may be) due in respect of such Current Issuer Notes will be payable to, or to the order of, DTC or its nominee or Euroclear, Clearstream Luxembourg or their nominee; (c) if any Note Certificate is presented or surrendered for payment to any Paying Agent and such Paying Agent has delivered a replacement therefor or has been notified that the same has been replaced, such Paying Agent shall as soon as is reasonably practicable notify the Current Issuer in writing of such presentation or surrender and shall not make payment against the same until it is so instructed by the Current Issuer and has received the amount to be so paid; (d) each Paying Agent shall cancel each Note Certificate against presentation and surrender of which it has made full payment and shall deliver each such Note Certificate so cancelled by it to the Registrar; (e) all payments in respect of the Current Issuer Notes will be distributed without deduction or withholding for any taxes, duties, assessments or other governmental charges of whatever nature except as and then only to the extent required by applicable law, in which case each Paying Agent shall be entitled to make such deduction or withholding from any payment which it makes hereunder. If any such deduction or withholding is required to be made, then neither the Current Issuer nor any other person will be obliged to pay any additional amounts in respect thereof; and (f) a Paying Agent shall not be obliged (but shall be entitled) to make payments of principal or interest if it has not received the full amount of any payment due to it under Clause 7 (Payments to the Paying Agents).

  • Reports to Trustee and Certificateholders On each Distribution Date, the Securities Administrator shall have prepared and shall make available to the Trustee, the Depositor and each Certificateholder a written report setting forth the following information (on the basis of Mortgage Loan level information obtained from the Master Servicer and the Servicers): (a) the amount of the distributions, separately identified, with respect to each Class of Certificates; (b) the amount of the distributions set forth in the clause (a) allocable to principal, separately identifying the aggregate amount of any Principal Prepayments or other unscheduled recoveries of principal included in that amount; (c) the amount of the distributions set forth in the clause (a) allocable to interest and how it was calculated; (d) the amount of any unpaid Interest Shortfall and the related accrued interest thereon, with respect to each Class of Certificates; (e) the Class Principal Amount of each Class of Certificates after giving effect to the distribution of principal on that Distribution Date; (f) the Aggregate Stated Principal Balance of the Mortgage Loans at the end of the related Prepayment Period and the applicable Net WAC of the Mortgage Loans in each Mortgage Pool at the beginning of the related Due Period; (g) the Senior Percentage and the Subordinate Percentage for each Mortgage Pool for the following Distribution Date; (h) the Senior Prepayment Percentage and Subordinate Prepayment Percentage for each Mortgage Pool for the following Distribution Date; (i) with respect to each Mortgage Pool and the Aggregate Pool, the amount of the Servicing Fee paid to or retained by each Servicer and the amount of the Master Servicer Fee retained by the Master Servicer; (j) with respect to each Mortgage Pool and the Aggregate Pool, the amount of Advances for the related Due Period; (k) with respect to each Mortgage Pool and the Aggregate Pool, the number and Stated Principal Balance of the Mortgage Loans that were (A) Delinquent (exclusive of Mortgage Loans in foreclosure) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) in foreclosure and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days and (C) in bankruptcy as of the close of business on the last day of the calendar month preceding that Distribution Date; (l) with respect to each Mortgage Pool and the Aggregate Pool, for any Mortgage Loan as to which the related Mortgaged Property was an REO Property during the preceding calendar month, the principal balance of that Mortgage Loan as of the close of business on the last day of the related Due Period; (m) in the aggregate and with respect to each Mortgage Pool, the amount of Realized Losses incurred during the preceding calendar month; (n) in the aggregate and with respect to each Mortgage Pool, the cumulative amount of Realized Losses incurred since the Closing Date; (o) the Realized Losses, if any, allocated to each Class of Certificates on that Distribution Date; (p) the Special Hazard Loss Coverage Amount, the Fraud Loss Coverage Amount and the Bankruptcy Loss Coverage Amount, in each case as of the related Determination Date; (q) the Certificate Interest Rate for each Class of Certificates for that Distribution Date; and (r) the amount of any Principal Transfer Amounts or Interest Transfer Amounts paid to an Undercollateralized Group or Principal Transfer Amounts between Groups in the event of Rapid Prepayment Conditions. The Securities Administrator shall make such reports available each month via the Master Servicer’s website at ▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇.▇▇▇. Assistance in using the website may be obtained by calling the Master Servicer’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Certificateholders and other parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by contacting the Securities Administrator and indicating such. In preparing or furnishing the foregoing information to the Trustee, the Securities Administrator shall be entitled to rely conclusively on the accuracy of the information or data regarding the Mortgage Loans and the related REO Properties that has been provided to the Securities Administrator by the Master Servicer and the Servicers, and the Securities Administrator shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. Upon the reasonable advance written request of any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee or any agent thereof, shall be promptly forwarded to the Securities Administrator, the Securities Administrator shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Purchase and Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to such Certificateholders such reports and access to information and documentation regarding the Mortgage Loans as such Certificateholders may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator shall be entitled to be reimbursed by such Certificateholders for the Securities Administrator’s actual expenses incurred in providing such reports and access.

  • Reports to the Trustee; Collection Account Statements Not later than twenty days after each Distribution Date, the Servicer shall forward, upon request, to the Trustee and the Depositor the most current available bank statement for the Collection Account. Copies of such statement shall be provided by the Trustee to any Certificateholder and to any Person identified to the Trustee as a prospective transferee of a Certificate, upon request at the expense of the requesting party, provided such statement is delivered by the Servicer to the Trustee.