DISTRIBUTIONS OF INTEREST AND PRINCIPAL Sample Clauses

The "Distributions of Interest and Principal" clause defines how and when payments of interest and principal amounts are made to relevant parties, such as investors or beneficiaries, under an agreement. Typically, this clause outlines the schedule, method, and priority of distributions, specifying whether payments are made periodically (e.g., monthly or quarterly) and how they are allocated between interest and principal. Its core practical function is to ensure transparency and predictability in the flow of funds, thereby preventing disputes and clarifying the financial rights of each party involved.
DISTRIBUTIONS OF INTEREST AND PRINCIPAL. The Indenture Trustee shall make distributions from and to the several Trust Accounts in the manner provided for in Section 5.5 of the Transfer and Servicing Agreement, as such Section may be amended from time to time. All principal payments of Notes of any Class shall be made pro rata to the Holders of Notes of such Class. No later than each Determination Date, the Master Servicer shall compute the Principal Factor of each Class of Notes for the upcoming Distribution Date and shall notify the Indenture Trustee in writing of such Principal Factors.
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DISTRIBUTIONS OF INTEREST AND PRINCIPAL. The Trustee shall make distributions from and to the several Trust Accounts in the manner provided for in the Trust Agreement. On the first Business Day of each calendar quarter after December 1, 2003 ( or such later date to which the Recycling Period is extended upon receipt of a Rating Confirmation), the Issuer shall determine the amounts on deposit in the Revenue Account and the Loan Account which will be available for distribution after payment of the amounts required to be paid in Section 5.3(B)(FIRST) through (EIGHTH) of the Trust Agreement, and shall apply such remaining amounts as follows and in the following order of priority (subject to any Supplemental Trust Agreement with respect to Additional Notes providing for a priority for such Additional Notes): (i) to pay principal on 1999 Series A-5 Notes in integral multiples of $50,000; (ii) to pay principal on 1999 Series A-6 Notes in integral multiples of $50,000; The Issuer shall notify the Trustee (not later than 30 days, or such lesser period as the Trustee shall determine to be acceptable, prior to the applicable Series Payment Date) of the amount that will be applied to the payment of principal of each Series of Notes and the Series Payment Dates occurring during such calendar quarter on which such principal shall be paid.
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DISTRIBUTIONS OF INTEREST AND PRINCIPAL. The Indenture Trustee shall make distributions from and to the several Trust Accounts in the manner provided for in Section 5.5 of the Sale and Servicing Agreement, as such Section may be amended from time to time.
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DISTRIBUTIONS OF INTEREST AND PRINCIPAL. The Trustee shall make distributions from and to the several Trust Accounts in the manner provided for in the Trust Agreement. On the first Business Day of each calendar quarter after December 1, 2003 ( or such later date to which the Recycling Period is extended upon receipt of a Rating Confirmation), the Issuer shall determine the amounts on deposit in the Revenue Account and the Loan Account which will be available for distribution after payment, in the following order of priority, of (a) the amounts required to be paid in Section 5.3(B)(FIRST) through (EIGHTH) of the Trust Agreement, (b) the amounts and in the order required to be paid in Section 3.1 of the First Terms Supplement with respect to the Senior Notes and thereafter (c) the amounts and in the order required to be paid in Section 3.1 of the Second Terms Supplement with respect to the Senior Notes and thereafter (d) the amounts and in the order required to be paid in Section 3.1 of the Third Supplement with respect to the Senior Notes, and (e) shall apply such remaining amounts as follows and in the following order of priority (subject to any Supplemental Trust Agreement with respect to Additional Notes providing for a priority for such Additional Notes): (i) to pay principal on 2000 Series A-10 Notes, in integral multiples of $50,000; (ii) to pay principal on 2000 Series A-11 Notes, in integral multiples of $50,000; (iii) to pay principal on 2000 Series A-12 Notes, in integral multiples of $50,000; (iv) to pay principal on 2000 Series A-13 Notes, in integral multiples of $50,000; (v) to pay principal on 2000 Series A-14 Notes, in integral multiples of $50,000; (vi) to pay principal on 2000 Series A-15 Notes, in integral multiples of $50,000; (vii) to pay principal on 1998 Senior Subordinate Notes Series B, in integral multiples of $50,000; and (viii) to pay principal on Series B-2 Notes, in integral multiples of $50,000. The Issuer shall notify the Trustee (not later than 30 days, or such lesser period as the Trustee shall determine to be acceptable, prior to the applicable Series Payment Date) of the amount that will be applied to the payment of principal of each Series of Notes and the Series Payment Dates occurring during such calendar quarter on which such principal shall be paid.
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DISTRIBUTIONS OF INTEREST AND PRINCIPAL. The Trustee shall make distributions from and to the several Trust Accounts in the manner provided for in the Trust Agreement. On the first Business Day of each calendar quarter after December 1, 2003 (or such later date to which the Recycling Period is extended upon receipt of a Rating Confirmation), the Issuer shall determine the amounts on deposit in the Revenue Account and the Loan Account which will be available for distribution after payment, in the following order of priority, of (a) the amounts required to be paid in Section 5.3(B)(FIRST) through (EIGHTH) of the Trust Agreement, and (b) shall apply such remaining amounts as follows and in the following order of priority (subject to any Supplemental Trust Agreement with respect to Additional Notes providing for a priority for such Additional Notes): (i) to pay principal on 1998 Series A1-1 Notes, in integral multiples of $50,000; (ii) to pay principal on 1998 Series A1-2 Notes, in integral multiples of $50,000; (iii) to pay principal on 1998 Series A1-3 Notes, in integral multiples of $50,000;
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Related to DISTRIBUTIONS OF INTEREST AND PRINCIPAL

  • Payments of Interest and Principal (a) Any installment of interest or principal, if any, payable on any Class A(2016-7) Note which is punctually paid or duly provided for by the Issuer and the Indenture Trustee on the applicable Interest Payment Date or Principal Payment Date shall be paid by the Paying Agent to the Person in whose name such Class A(2016-7) Note (or one or more Predecessor Notes) is registered on the Record Date, by wire transfer of immediately available funds to such Person’s account as has been designated by written instructions received by the Paying Agent from such Person not later than the close of business on the third Business Day preceding the date of payment or, if no such account has been so designated, by check mailed first-class, postage prepaid to such Person’s address as it appears on the Note Register on such Record Date, except that with respect to Notes registered on the Record Date in the name of the nominee of Cede & Co., payment shall be made by wire transfer in immediately available funds to the account designated by such nominee. (b) The right of the Class A(2016-7) Noteholders to receive payments from the Issuer will terminate on the first Business Day following the Class A(2016-7) Termination Date.

  • Repayment of Interest and Principal Except as otherwise provided herein, the Company will repay the outstanding principal amount of this Note within fourteen (14) Business Days of the Offering Funding Date (the “Maturity Date”). This Note does not bear interest. At the option of the Lender, funds available for repayment of the loan may be held in a Company account, interest free, after the Maturity Date. Such funds shall not be used or otherwise pledged until such time as the Company and Lender have entered into another note.

  • Interest and Principal (a) The principal balance of the Loan shall bear interest at the Interest Rate or, as applicable, the Default Rate. Interest shall accrue on the outstanding principal balance of the Loan, from time to time, based on a 360 day year and charged for the actual number of days outstanding. On the Closing Date, Borrower shall make a payment of interest on the outstanding Loan balance for the Initial Interest Period. Commencing on the first Scheduled Payment Date, and on or before each Scheduled Payment Date thereafter, Borrower shall pay all Accrued Interest. In addition to the interest payments required above, Borrower shall make the applicable Minimum Amortization Payment, commencing on the Amortization Commencement Date and on each Scheduled Payment Date thereafter. (b) On the Maturity Date, Borrower shall pay all Indebtedness, including the entire outstanding principal balance of the Loan and all Accrued Interest. (c) Following the occurrence of an Event of Default, interest shall be computed at, and Borrower shall pay interest on the unpaid principal balance of the Loan at, the Default Rate. All other payments, reimbursements and other amounts due from Borrower to Lender under the Loan Documents not paid when due shall bear interest at the Default Rate from the date when due until the date when received by Lender. (d) At any time after the expiration of the Lockout Period (but not prior thereto), upon not less than sixty (60) days prior written notice to Lender, Borrower may prepay the Loan in whole but not in part (except as otherwise expressly permitted by the terms of this Agreement) on any Business Day, provided that upon any such prepayment of the Loan, Borrower shall also pay in full (i) all Accrued Interest; (ii) if such prepayment is received by Lender on a date other than on a Scheduled Payment Date, the Interest Shortfall; (iii) all other Indebtedness; and (iv) if the Loan is prepaid in whole or in part prior to the Scheduled Payment Date in October, 2020 (other than with the proceeds of any Loss Recoveries pursuant to Section 6.1(d) of this Agreement), the applicable Prepayment Fee. Without limiting the aforesaid, upon any payment of the Loan on any day that is not a Scheduled Payment Date (regardless of the source of such prepayment and whether voluntary, by acceleration or otherwise), Borrower shall pay Lender the Breakage Amount. (e) Unless otherwise specified, all other amounts payable to Lender under the Loan Documents shall be due and payable within ten (10) days after written request or invoice. (f) Lender shall have the right from time to time, in its sole discretion, upon not less than ten (10) days prior written notice to Borrower, to change the Scheduled Payment Date to a different calendar day provided such amended Scheduled Payment Date shall not be earlier than the fifth (5th) day of each calendar month and, if requested by Lender, Borrower shall promptly execute an amendment to this Agreement to evidence such change; provided, however, that if Lender shall have elected to change the Scheduled Payment Date as aforesaid, Lender shall have the option, but not the obligation, to adjust the Interest Period and the Determination Date accordingly. All amounts due pursuant to this Agreement and the other Loan Documents shall be payable without setoff, counterclaim, defense or any other deduction whatsoever.

  • Interest and Principal Payments Holders shall be entitled to receive, and Borrower shall pay, simple interest on the outstanding principal amount of this Note at the annual rate of eight percent (8%) (as subject to increase as set forth in this Note) from the Original Issue Date through the Maturity Date. Principal and interest shall be due and payable on the Maturity Date.

  • Payments of Interest Interest on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law.