Common use of Distribution Statements Clause in Contracts

Distribution Statements. With each distribution from the Interest or Principal Accounts of the Trust Fund, the Trustee shall set forth, either in the instrument by means of which payment of such distribution is made or in an accompanying statement, the amount being distributed from each such account expressed as a dollar amount per Unit. In the event that the issuer of any of the Bonds in the Trust Fund shall fail to make payment when due of any interest or principal and such failure results in a change in the amount which would otherwise be distributed as a monthly distribution, the Trustee shall, with the first such distribution for the Trust Fund following such failure, set forth in an accompanying statement (a) the name of the issuer and the Bond, (b) the amount of the reduction in the distribution for the Trust Fund per Unit resulting from such failure, (c) the percentage of the aggregate principal amount of Bonds which such Bond represents, and (d) to the extent then determined, information regarding any disposition or legal action with respect to such Bond. Within a reasonable period of time after the last Business Day of each calendar year, the Trustee shall furnish to each person who at any time during such calendar year was a Certificateholder of the Trust Fund a statement for the Trust Fund setting forth, with respect to such calendar year: (a) as to the Interest Account: (i) the amount of interest received on the Bonds (including any earned original issue discount), (ii) the amounts paid in connection with purchases of Replacement Bonds pursuant to Section 3.14 and for redemption pursuant to Section 5.02, (iii) the deductions for payment of applicable taxes, compensation of the Evaluator, fees and expenses of the Trustee and bond counsel, and the annual fee of the Depositor for portfolio supervisory services, and (iv) the balance remaining after such distributions and deductions, expressed both as a total dollar amount and as a dollar amount per Unit outstanding on the last Business Day of such calendar year; (b) as to the Principal Account: (i) the dates of the sale, maturity, liquidation or redemption of any of the Bonds and the net proceeds received therefrom, excluding any portion thereof credited to the Interest Account, (ii) the amount paid for purchases of Replacement Bonds pursuant to Section 3.14 and for redemptions pursuant to Section 5.02, (iii) the deductions for payment of applicable taxes, compensation of the Evaluator, fees and expenses of the Trustee and bond counsel, and the annual fee of the Depositor for portfolio supervisory services, and (iv) the balance remaining after such distributions and deductions, expressed both as a dollar amount and as a dollar amount per Unit outstanding on the last Business Day of such calendar year; and (c) the following information: (i) a list of Bonds disposed of during such calendar year and a list of the Bonds held as of the last Business Day of such calendar year, (ii) the number of Units outstanding on the last Business Day of such calendar year, (iii) the Unit Value (as defined in Article I) based upon the last Trust Fund evaluation made during such calendar year, and (iv) the amounts actually distributed during such calendar year from the Interest and Principal Accounts, separately stated and expressed both as total dollar amounts and as dollar amounts per Unit outstanding on the record dates for such distributions.

Distribution Statements. With each distribution from the Interest or Principal Accounts of the a Trust Fund, the Trustee shall set forth, either in the instrument by means of which payment of such distribution is made or in an accompanying statement, the amount being distributed from each such account expressed as a dollar amount per Unit. Unit of such Trust except that such information need not be furnished to a Unitholder who has waived receipt thereof in writing.; In the event that the issuer or insurer of any of the Bonds Securities in the a Trust Fund shall fail to make payment when due of any interest or principal and such failure results in a change in the amount which would otherwise be distributed as a monthly distribution, the Trustee shall, with the first distribution relating to such distribution for the Trust Fund following such failure, set forth in an accompanying statement (a) the name of the issuer and the BondSecurity, (b) the amount of the reduction in the distribution for the Trust Fund per Unit unit resulting from such failure, (c) the percentage of the aggregate principal amount of Bonds Securities which such Bond represents, Security represents and (d) to the extent then determined, information regarding any disposition or legal action with respect to such BondSecurity. Within a reasonable period of time after the last Business Day business day of each calendar year, the Trustee shall furnish to each person who at any time during such calendar year was a Certificateholder Unitholder of the a Trust Fund a statement for the Trust Fund setting forth, with respect to such calendar yearyear and with respect to such Trust: (aA) as to the Interest Account: (i1) the amount of interest received on the Bonds Securities (including amounts representing interest received upon any earned original issue discountdisposition of Securities, penalties for failure to make timely payments on Securities or liquidated damages for default on breach of any condition or term of the Securities), (ii2) the amounts paid in connection with for purchases of Replacement Bonds New Securities pursuant to Section 3.14 and for redemption redemptions pursuant to Section 5.024.02, (iii3) the deductions for payment of applicable taxes, compensation of the Evaluator, taxes and fees and expenses of the Trustee and bond counselTrustee, and the annual fee of the Depositor for portfolio supervisory servicesand counsel, and (iv4) the balance remaining after such distributions and deductions, expressed both as a total dollar amount and as a dollar amount per Unit outstanding on the last Business Day business day of such calendar year; (bB) as to the Principal Account: (i1) payments of principal on Securities, if any, (2) the dates of the sale, maturity, liquidation or redemption of any of the Bonds Securities and the net proceeds received therefrom, therefrom excluding any portion thereof credited to the Interest Account, (ii3) the amount paid for purchases of New Securities, Replacement Bonds Securities or Reinvestment Securities pursuant to Section 3.14 and for redemptions pursuant to Section 5.024.02, (iii4) the deductions for payment of applicable taxes, compensation of the Evaluator, taxes and fees and expenses of the Trustee and bond counsel, and the annual fee of the Depositor for portfolio supervisory services, and (iv5) the balance remaining after such distributions and deductions, expressed both as a total dollar amount and as a dollar amount per Unit outstanding on the last Business Day business day of such calendar year; and (cC) the following information: (i1) a list of Bonds disposed of during such calendar year and a list of the Bonds held Securities as of the last Business Day business day of such calendar year, (ii2) the number of Units outstanding on the last Business Day business day of such calendar year, (iii3) the Unit Value (as defined in Article I) based upon on the last evaluation of such Trust Fund evaluation made during such calendar year, and, (iv4) the amounts actually distributed during such calendar year from the Interest and Principal Accounts, separately stated and stated, expressed both as total dollar amounts and as dollar amounts per Unit outstanding on the record dates Record Dates for such distributions, and (5) such other information as the Trustee may deem appropriate.

Distribution Statements. With each distribution from the Interest or Principal Accounts of the a Trust Fund, the Trustee shall set forth, either in the instrument by means of which payment of such distribution is made or in an accompanying statement, the amount being distributed from each such account expressed as a dollar amount per Unit. Unit of such Trust except that such information need not be furnished to a Unitholder who has waived receipt thereof in writing.; In the event that the issuer or insurer of any of the Bonds Securities in the a Trust Fund shall fail to make payment when due of any interest or principal and such failure results in a change in the amount which would otherwise be distributed as a monthly distribution, the Trustee shall, with the first distribution relating to such distribution for the Trust Fund following such failure, set forth in an accompanying statement (a) the name of the issuer and the BondSecurity, (b) the amount of the reduction in the distribution for the Trust Fund per Unit unit resulting from such failure, (c) the percentage of the aggregate principal amount of Bonds Securities which such Bond represents, Security represents and (d) to the extent then determined, information regarding any disposition or legal action with respect to such BondSecurity. Within a reasonable period of time after the last Business Day business day of each calendar year, the Trustee shall furnish to each person who at any time during such calendar year was a Certificateholder Unitholder of the a Trust Fund a statement for the Trust Fund setting forth, with respect to such calendar yearyear and with respect to such Trust: (aA) as to the Interest Account: (i1) the amount of interest received on the Bonds Securities (including amounts representing interest received upon any earned original issue discountdisposition of Securities, penalties for failure to make timely payments on Securities or liquidated damages for default on breach of any condition or term of the Securities), (ii2) the amounts paid in connection with for purchases of Replacement Bonds New Securities pursuant to Section 3.14 and for redemption redemptions pursuant to Section 5.024.02, (iii3) the deductions for payment of applicable taxes, compensation of the Evaluator, taxes and fees and expenses of the Trustee and bond counselTrustee, and the annual fee of the Depositor for portfolio supervisory servicesand counsel, and (iv4) the balance remaining after such distributions and deductions, expressed both as a total dollar amount and as a dollar amount per Unit outstanding on the last Business Day business day of such calendar year; ; (bB) as to the Principal Account: (i1) payments of principal on Securities, if any, (2) the dates of the sale, maturity, liquidation or redemption of any of the Bonds Securities and the net proceeds received therefrom, therefrom excluding any portion thereof credited to the Interest Account, (ii3) the amount paid for purchases of New Securities, Replacement Bonds Securities or Reinvestment Securities pursuant to Section 3.14 and for redemptions pursuant to Section 5.024.02, (iii4) the deductions for payment of applicable taxes, compensation of the Evaluator, taxes and fees and expenses of the Trustee and bond counsel, and the annual fee of the Depositor for portfolio supervisory services, and (iv5) the balance remaining after such distributions and deductions, expressed both as a total dollar amount and as a dollar amount per Unit outstanding on the last Business Day business day of such calendar year; and (c) the following information: (i) a list of Bonds disposed of during such calendar year and a list of the Bonds held as of the last Business Day of such calendar year, (ii) the number of Units outstanding on the last Business Day of such calendar year, (iii) the Unit Value (as defined in Article I) based upon the last Trust Fund evaluation made during such calendar year, and (iv) the amounts actually distributed during such calendar year from the Interest and Principal Accounts, separately stated and expressed both as total dollar amounts and as dollar amounts per Unit outstanding on the record dates for such distributions.

Distribution Statements. With each distribution from the Interest or Principal Accounts of the Trust Fund, the Trustee shall set forth, either in the instrument by means of which payment of such distribution is made or in an accompanying statement, the amount being distributed from each such account expressed as a dollar amount per Unit. In the event that the issuer of any of the Bonds in the Trust Fund shall fail to make payment when due of any interest or principal and such failure results in a change in the amount which would otherwise be distributed as a monthly periodic distribution, the Trustee shall, except where a contract of Insurance exists, with the first such distribution for the relating to such Trust Fund following such failure, set forth in an accompanying statement (a) the name of the issuer and the Bond, (b) the amount of the reduction in the distribution for the Trust Fund distributions per Unit resulting from such failure, (c) the percentage of the aggregate principal amount of Bonds Securities which such Bond represents, represents and (d) to the extent then determined, information regarding any disposition or legal action with respect to such Bond. In the event that a preceding series of National Municipal Trust to which any of the Deposited Units relate fails to make a distribution when due of any interest or principal and such failure results in a change in the amount which would otherwise be distributed hereunder as a monthly distribution, the Trustee shall, with the first such distribution following such failure, set forth in an accompanying statement (a) the name of the preceding series and the Deposited Units, (b) the amount of the reduction in the distributions per unit resulting from such failure, (c) the percentage of the aggregate face amount of Securities which such Deposited Units represent and (d) to the extent then determined, information regarding any disposition or legal action with respect to such preceding series or such Deposited Units. Within a reasonable period of time after the last Business Day business day of each calendar year, but not later than February 15, the Trustee shall furnish to each person who at any time during such calendar year was a Certificateholder Unit Holder of the Trust Fund a statement for the Trust Fund setting forth, with respect to such calendar year: (aA) as to the Interest AccountAccount of the Trust: (i1) the amount of interest received on the Bonds (including any earned original issue discount)Securities, (iia) and, if the Issuers of the Securities are located in different states or possessions or in the Commonwealth of Puerto Rico, the percentage of such interest by such states or other jurisdictions, (2) the amounts paid in connection with for purchases of Replacement Bonds pursuant to Section 3.14 and for redemption pursuant to Section 5.02, (iii3) the deductions for payment of applicable taxes, Portfolio Insurance premiums, compensation of the Evaluator, Evaluator and fees and expenses of the Trustee and bond counsel, and the annual fee of the Depositor for portfolio supervisory services, and (iv4) the balance remaining after such distributions and deductions, expressed both as a total dollar amount and as a dollar amount per Unit outstanding on the last Business Day business day of such calendar year; (bB) as to the Principal AccountAccount of the Trust: (i1) the dates of the sale, maturity, liquidation or redemption of any of the Bonds Securities and the net proceeds received therefrom, excluding any portion thereof credited to the Interest Account, (ii2) the amount paid for purchases of Replacement Bonds pursuant to Section 3.14 3.14, and for redemptions pursuant to Section 5.02, (iii3) the deductions for payment of applicable taxes, compensation of the Evaluator, Evaluator and fees and expenses of the Trustee and bond counsel, and the annual fee of the Depositor for portfolio supervisory services, and (iv4) the balance remaining after such distributions and deductions, expressed both as a total dollar amount and as a dollar amount per Unit outstanding on the last Business Day business day of such calendar year; and (cC) the following information: (i1) a list of Bonds disposed of during such calendar year and a list of the Bonds Securities held in the Trust as of the last Business Day business day of such calendar year, (ii2) the number of Units of such Trust outstanding on the last Business Day business day of such the calendar year, (iii3) the Unit Value (as defined in Article ISection 5.01) based upon on the last evaluation of such Trust Fund evaluation made during such calendar year, and (iv4) the amounts actually distributed during such calendar year from the Interest and Principal AccountsAccounts of the Trust, separately stated and stated, expressed both as total dollar amounts and as dollar amounts per Unit outstanding on the record dates for such distributions.