Distributions on Certificates Clause Samples

Distributions on Certificates. (a) Distributions on any Certificate that are payable and are punctually paid or duly provided for on any Distribution Date shall be distributed to the Person in whose name such Certificate (or one or more Predecessor Certificates) is registered at the close of business on the related Record Date notwithstanding the cancellation of such Certificate upon any transfer or exchange subsequent to such related Record Date. The distribution of interest and principal on Certificates shall be made: (i) if the Certificateholder is a Depository, to the Depository, which shall credit the relevant Participant's account at such Depository in accordance with the policies and procedure of the Depository; or (ii) if the Holder is not a Depository, at the Corporate Trust Office (except as otherwise specified pursuant to the applicable Supplement) or, at the option of the Trustee, by check mailed to the address of the Person entitled thereto as such address shall appear in the Certificate Register or, if provided pursuant to the applicable Supplement and in accordance with arrangements satisfactory to the Trustee, at the option of the registered Holder by wire transfer to an account designated by the registered Holder. Notwithstanding clause (i) of this paragraph (a), with respect to a Holder of Certificates not held in a Depository and having at least the Minimum Wire Denomination, such payment shall be made by wire transfer of immediately available funds to the account designated by such Holder in a written request received by the Trustee not later than 10 days prior to such Distribution Date; provided, however, that if a wire transfer cannot be made for any reason, payment shall be made by check. The Trustee shall not be required to send federal funds wires until any corresponding payments which were not same day funds when received by it have become same day funds. (b) Each Certificate delivered under this Trust Agreement upon transfer of or in exchange for or in lieu of any other Certificate shall carry the rights to interest accrued and undistributed, and to accrue, that were carried by such other Certificate. (c) All computations of interest due with respect to any Certificate of any Series or Class within such Series shall be made as specified in the Supplement applicable to that particular Series or Class. (d) With respect to any computations or calculations to be made under these Standard Terms, the applicable Supplement and the Certificates, except as otherwise pr...
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Distributions on Certificates. (a) On or before each Determination Date for each Series (or as soon thereafter as is reasonably practicable), the Trustee will calculate, or cause to be calculated, the Class Distribution Amount for each Class in such Series for the current calendar month. On or before each Distribution Date for each Series, the Trustee will withdraw and deliver to the applicable Paying Agent, or cause to be withdrawn and so delivered, funds from the related Certificate Account in the amount of the Class Distribution Amount for each Class in such Series (or if sufficient funds for a Trust are not then available in the related Certificate Account, as much as is available). (b) To the extent the amount withdrawn from the Certificate Account and delivered to the applicable Paying Agent on the Distribution Date is insufficient to pay the Class Distribution Amount for any Class in such Series, the Paying Agent will receive funds pursuant to the Guaranty as described in Section 4.04. (c) On or before each Distribution Date, the Trustee will instruct the applicable Paying Agent to distribute to Holders of record as of the related Record Date, in immediately available funds, the Class Distribution Amount for each Class in such Series in the respective amounts and in the applicable manner determined as provided in this Section 3.06. (d) The aggregate amount of interest and principal distributable on each Class in a Series during any calendar month will be equal to the related Class Distribution Amount for such calendar month. All distributions made with respect to any Certificate on any Distribution Date will be applied first to the interest distributable thereon on such Distribution Date and then to the principal thereof. All distributions of principal and interest that are made with respect to a particular Class will be made pro rata among all Outstanding Certificates of such Class in proportion to their respective Certificate Balances, with no preference or priority of any kind. (e) Except as provided below in the case of any Accrual Class, interest will accrue on the Class Balance of each interest-bearing RCR Class during the related Interest Accrual Period at the applicable Interest Rate and will be distributed on each applicable Distribution Date. The total amount of interest distributed or added to the Certificate Balance in respect of any Certificate of an RCR Class on any Distribution Date will be equal to one month’s interest at the applicable Interest Rate on the Certif...
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Distributions on Certificates. On each Distribution Date for a Series, Farmer Mac sh▇▇▇ ▇ithdraw from the Certificate Account for such Series, to the extent of funds available therefor, the Certificate Distribution Amount for such Distribution Date previously calculated by it pursuant to Section 5.02. In the event that the Certificate Distribution Amount may not be paid from amounts in the Certificate Account, Farmer Mac sha▇▇, ▇▇rsuant to its guarantee obligations set forth in Section 5.05 hereof, provide from its own funds the amount of any insufficiency and shall distribute in Federal Funds to each Certificateholder of record on the preceding Record Date the amount distributable on such Certificateholder's Certificate(s) as determined pursuant to Section 3.01. Concurrently therewith, in the event the Certificate Account shall not be maintained with the Trustee, Farmer Mac sh▇▇▇ ▇urnish to the Trustee an Officer's Certificate (which may also relate to other Series comprised of Classes having a similar Distribution Date) to the effect that distribution of the Certificate Distribution Amount for such Series and Distribution Date has been made by it. As promptly as practicable following each Certificate Account Deposit Date in the month of a Distribution Date, Farmer Mac sha▇▇, ▇▇ the event the amount on deposit in the Certificate Account shall be less than the Certificate Distribution Amount for such Distribution Date, provide to the Trustee an Officer's Certificate stating (i) the amount of such insufficiency, (ii) whether Farmer Mac is ▇▇▇▇▇▇n that funds will be available to it on such Distribution Date in an amount sufficient to cure such insufficiency without the necessity of borrowing from the United States Treasury and (iii) in the event that the response to (ii) is in the negative, attaching to such Officer's Certificate a copy of the certification furnished to the Secretary of the Treasury requesting that funds in the necessary amount be made available to Farmer Mac on ▇▇ ▇▇▇ore such Distribution Date for purposes of satisfying its guarantee obligations in respect of the related Series of Certificates.
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Distributions on Certificates. The Holders of the Certificates will be entitled to distributions on each Payment Date, as provided in the Sale and Servicing Agreement and the Indenture.
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Distributions on Certificates. (a) Distributions on any Registered Certificate that are payable and are punctually paid or duly provided for on any Distribution Date shall be distributed to the Person in whose name such Registered Certificate (or one or more Predecessor Certificates) is registered at the close of business on the related Record Date notwithstanding the cancellation of such Registered Certificate upon any transfer or exchange subsequent to such related Record Date.
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Distributions on Certificates. 29 Section 4.03.
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Distributions on Certificates. As provided in Section 6.03, on each Distribution Date, the Calculation and Paying Agent shall withdraw from each applicable Certificate Account to the extent of funds available therefor, the Certificate Distribution Amount applicable to each Series for such Distribution Date previously calculated by it pursuant to Section 6.02. Any installment of interest or principal that is payable on any Certificate and that is on deposit in the applicable Certificate Account on the applicable Distribution Date, shall be paid to the Certificateholder of record thereof on the immediately preceding Record Date by wire transfer to an account specified in writing by such Certificateholder (or, if any Certificateholder shall not have specified such account in writing at least 3 Business Days prior to any Payment Date, by check or money order mailed to such Certificateholder at such Certificateholder’s address appearing in the Note Register); provided that the Calculation and Paying Agent shall not be required to pay to any such Certificateholder any amounts required to be withheld from a payment to such Certificateholder by any applicable tax law.
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Distributions on Certificates. The aggregate amount of principal of and interest distributable on the Certificates on any Distribution Date shall be equal to the Upper-Tier Available Distribution Amount in the Upper-Tier Trust Account on the related Distribution Date, plus any Guaranty Payment made pursuant to Section 3.4, which shall be distributed in the priorities and in the amounts as among Classes as provided hereinafter in this Section 3.2. All distributions of principal for any such Distribution Date which are made with respect to a particular Class of Certificates shall be made pro rata among all Certificates of such Class in proportion to their respective Certificate Balances, with no preference or priority of any kind. All computations of interest accrued on any Certificate shall be made as if each year consisted of twelve (12) months of thirty (30) days each.
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Distributions on Certificates 
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Related to Distributions on Certificates

  • Distributions on the Certificates (a) Interest and principal on the Certificates will be distributed monthly on each Distribution Date, commencing in January 2003 in an aggregate amount equal to the Available Funds for such Distribution Date. (i) On the first Distribution Date, the amount deposited by the Seller into the Distribution Account on the Closing Date pursuant to Section 4.04(d) will be distributed to the Class R-I Certificates, in reduction of its Current Principal Amount, until its Current Principal Amount has been reduced to zero. (ii) On each Distribution Date, the Group 1 Available Funds shall be distributed as follows: (A) on each Distribution Date, the Group 1 Available Funds will be distributed to the Group 1 Senior Certificates as follows: (i) FIRST, to the Group 1 Senior Certificates, including the related Components, the Accrued Certificate Interest on each such Class or Component for such Distribution Date. As described below, Accrued Certificate Interest on the Group 1 Senior Certificates is subject to reduction in the event of certain Net Interest Shortfalls allocable thereto. Any Net Interest Shortfalls shall be allocated among the Group 1 Senior Certificates as described below; (ii) SECOND, to the Group 1 Senior Certificates, on a pro rata basis, including the related Components, any Accrued Certificate Interest thereon remaining undistributed from previous Distribution Dates, to the extent of remaining Group 1 Available Funds; and (iii) THIRD, the Group 1 Senior Optimal Principal Amount for such Distribution Date, in each case, to the extent of remaining Group 1 Available Funds, shall be distributed concurrently as follows, except as provided in clause (C) below: (a) 7.6811397091% of the Group 1 Senior Optimal Principal Distribution Amount to the Class I-A-1 Certificates, in reduction of the Current Principal Amount thereof, until the Current Principal Amount of such Class has been reduced to zero; and (b) 92.3188602909% of the Group 1 Senior Optimal Principal Distribution Amount shall be distributed sequentially, to the Class I-A-2, Class I-A-3, Class I-A-4, Class I-A-5, Class I-A-

  • Distributions on Book-Entry Certificates Each distribution with respect to a Book-Entry Certificate shall be paid to the Depository, which shall credit the amount of such distribution to the accounts of its Depository Participants in accordance with its normal procedures. Each Depository Participant shall be responsible for disbursing such distribution to the Certificate Owners that it represents and to each indirect participating brokerage firm (a “brokerage firm” or “indirect participating firm”) for which it acts as agent. Each brokerage firm shall be responsible for disbursing funds to the Certificate Owners that it represents. All such credits and disbursements with respect to a Book-Entry Certificate are to be made by the Depository and the Depository Participants in accordance with the provisions of the Certificates. None of the Trustee, the Depositor or the Seller shall have any responsibility therefor.

  • Legends on Certificates All Lock-Up Shares now or hereafter owned by the Stockholder, except any shares purchased in open market transactions by Stockholders that are not affiliates (as such term is defined under securities laws) of the Company, shall be subject to the provisions of this Agreement and the certificates representing such Lock-Up Shares shall bear the following legends: THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY STATE SECURITIES LAWS. THEY MAY NOT BE SOLD, ASSIGNED, PLEDGED OR OTHERWISE TRANSFERRED FOR VALUE UNLESS THEY ARE REGISTERED UNDER THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS OR UNLESS THE CORPORATION RECEIVES AN OPINION OF COUNSEL SATISFACTORY TO IT, OR OTHERWISE SATISFIES ITSELF, THAT AN EXEMPTION FROM REGISTRATION IS AVAILABLE. THE SALE, ASSIGNMENT, GIFT, BEQUEST, TRANSFER, DISTRIBUTION, PLEDGE, HYPOTHECATION OR OTHER ENCUMBRANCE OR DISPOSITION OF THE SHARES REPRESENTED BY THIS CERTIFICATE IS RESTRICTED BY AND MAY BE MADE ONLY IN ACCORDANCE WITH THE TERMS OF A LOCK-UP AGREEMENT, A COPY OF WHICH MAY BE EXAMINED AT THE OFFICE OF THE CORPORATION.

  • Certain Distributions If the Company elects to: (I) distribute, to all or substantially all holders of Common Stock, any rights, options or warrants (other than rights issued pursuant to a stockholder rights plan, so long as such rights have not separated from the Common Stock and are not exercisable until the occurrence of a triggering event, except that such rights will be deemed to be distributed under this clause (I) upon their separation from the Common Stock or upon the occurrence of such triggering event) entitling them, for a period of not more than sixty (60) calendar days after the record date of such distribution, to subscribe for or purchase shares of Common Stock at a price per share that is less than the average of the Last Reported Sale Prices per share of Common Stock for the ten (10) consecutive Trading Days ending on, and including, the Trading Day immediately before the date such distribution is announced (determined in the manner set forth in the third paragraph of Section 5.05(A)(ii)); or (II) distribute, to all or substantially all holders of Common Stock, assets or securities of the Company or rights to purchase the Company’s securities, which distribution per share of Common Stock has a value, as reasonably determined by the Board of Directors, exceeding ten percent (10%) of the Last Reported Sale Price per share of Common Stock on the Trading Day immediately before the date such distribution is announced, then, in either case, the Company shall notify in writing all Holders of the Notes, the Trustee and the Conversion Agent (if other than the Trustee) (such notification, the “Certain Distributions Notification”) (x) at least 25 Scheduled Trading Days or (y) if the Company is otherwise then permitted to elect Physical Settlement (and, for the avoidance of doubt, the Company has not selected another Settlement Method to apply), and in the Certain Distributions Notification the Company irrevocably elects Physical Settlement in respect of any conversions with Conversion Dates that occur on or after the date of delivery to the Holders of the Certain Distributions Notification until the Certain Distributions Conversion Period End Date, at least 10 Scheduled Trading Days, in either case, before the Ex-Dividend Date for such distribution. Once the Company has given such notice, a Holder may surrender all or any portion of its Notes for conversion at any time until the earlier of (1) the close of business on the Business Day immediately preceding the Ex-Dividend Date for such distribution and (2) the Company’s announcement that such distribution will not take place (such earlier date and time, the “Certain Distributions Conversion Period End Date”), in each case, even if the Notes are not otherwise convertible at such time.

  • Distributions on the REMIC Regular Interests (a) On each Distribution Date, the Trustee shall cause the Available Distribution Amount, in the following order of priority, to be distributed by REMIC 1 to REMIC 2 on account of the REMIC 1 Regular Interests or withdrawn from the Certificate Account and distributed to the Holders of the Class R Certificates (in respect of the Class R-1 Interest), as the case may be: (i) to Holders of REMIC 1 Regular Interest I-1-A through I-59-B, REMIC 1 Regular Interest P and REMIC 1 Regular Interest A-I, pro rata, in an amount equal to (A) Uncertificated Accrued Interest for such REMIC 1 Regular Interests for such Distribution Date, plus (B) any amounts payable in respect thereof remaining unpaid from previous Distribution Dates; and (ii) to the extent of amounts remaining after the distributions made pursuant to clause (i) above, payments of principal shall be allocated as follows: first, to REMIC 1 Regular Interests I-1-A through I-59-B starting with the lowest numerical denomination until the Uncertificated Principal Balance of each such REMIC 1 Regular Interest is reduced to zero, provided that, for REMIC 1 Regular Interests with the same numerical denomination, such payments of principal shall be allocated pro rata between such REMIC 1 Regular Interests, and second to the extent of any Overcollateralization Release to REMIC 1 Regular Interest A-I until the Uncertificated Principal Balance of such REMIC 1 Regular Interest is reduced to zero. (iii) to the Holders of REMIC 1 Regular Interest P, (A) on each Distribution Date, 100% of the amount paid in respect of Prepayment Charges and (B) on the Distribution Date immediately following the expiration of the latest Prepayment Charge as identified on the Prepayment Charge Schedule or any Distribution Date thereafter until $100 has been distributed pursuant to this clause; (b) On each Distribution Date, the Trustee shall cause the Available Distribution Amount, in the following order of priority, to be distributed by REMIC 2 to REMIC 3 on account of the REMIC 2 Regular Interests or withdrawn from the Certificate Account and distributed to the Holders of the Class R Certificates (in respect of the Class R-2 Interest), as the case may be: (i) first, to the Holders of REMIC 2 Regular Interest IO, in an amount equal to (A) Uncertificated Accrued Interest for such REMIC 2 Regular Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates and second, to the Holders of REMIC 2 Regular Interest AA, REMIC 2 Regular Interest A-1, REMIC 2 Regular Interest A-1M, REMIC 2 Regular Interest A-1W, REMIC 2 Regular Interest A-2A, REMIC 2 Regular Interest A-2B, REMIC 2 Regular Interest A-2C, REMIC 2 Regular Interest A-2D, REMIC 2 Regular Interest M-1, REMIC 2 Regular Interest M-2, REMIC 2 Regular Interest M-3, REMIC 2 Regular Interest M-4, REMIC 2 Regular Interest M-5, REMIC 2 Regular Interest M-6, REMIC 2 Regular Interest M-7, REMIC 2 Regular Interest M-8, REMIC 2 Regular Interest B, REMIC 2 Regular Interest ZZ, and REMIC 2 Regular Interest P, pro rata, in an amount equal to (A) the related Uncertificated Accrued Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from the previous Distribution Dates. Amounts payable as Uncertificated Accrued Interest in respect of REMIC 2 Regular Interest ZZ shall be reduced when the REMIC 2 Overcollateralized Amount is less than the REMIC 2 Overcollateralization Target Amount, by the lesser of (x) the amount of such difference and (y) the Maximum Uncertificated Accrued Interest Deferral Amount, and such amount will be payable to the Holders of REMIC 2 Regular Interest A-1, REMIC 2 Regular Interest A-1M, REMIC 2 Regular Interest A-1W, REMIC 2 Regular Interest A-2A, REMIC 2 Regular Interest A-2B, REMIC 2 Regular Interest A-2C, REMIC 2 Regular Interest A-2D, REMIC 2 Regular Interest M-1, REMIC 2 Regular Interest M-2, REMIC 2 Regular Interest M-3, REMIC 2 Regular Interest M-4, REMIC 2 Regular Interest M-5, REMIC 2 Regular Interest M-6, REMIC 2 Regular Interest M-7, REMIC 2 Regular Interest M-8, REMIC 2 Regular Interest B in the same proportion as the Overcollateralization Deficiency Amount is allocated to the Corresponding Certificates and the Uncertificated Principal Balance of REMIC 2 Regular Interest ZZ shall be increased by such amount; (ii) to the Holders of REMIC 2 Regular Interest P, (A) on each Distribution Date, 100% of the amount paid in respect of Prepayment Charges on the Corresponding Certificate and (B) on the Distribution Date immediately following the expiration of the latest Prepayment Charge as identified on the Prepayment Charge Schedule or any Distribution Date thereafter until $100 has been distributed pursuant to this clause; (iii) to the Holders of the REMIC 2 Regular Interests, in an amount equal to the remainder of the Available Funds for such Distribution Date after the distributions made pursuant to clauses (i) and (ii) above, allocated as follows: (A) 98% of such remainder to the Holders of REMIC 2 Regular Interest AA, until the Uncertificated Principal Balance of such REMIC 2 Regular Interest is reduced to zero; (B) 2.00% of such remainder, first, to the Holders of REMIC 2 Regular Interest A-1, REMIC 2 Regular Interest A-1M, REMIC 2 Regular Interest A-1W, REMIC 2 Regular Interest A-2A, REMIC 2 Regular Interest A-2B, REMIC 2 Regular Interest A-2C, REMIC 2 Regular Interest A-2D, REMIC 2 Regular Interest M-1, REMIC 2 Regular Interest M-2, REMIC 2 Regular Interest M-3, REMIC 2 Regular Interest M-4, REMIC 2 Regular Interest M-5, REMIC 2 Regular Interest M-6, REMIC 2 Regular Interest M-7, REMIC 2 Regular Interest M-8, REMIC 2 Regular Interest B, 1% in the same proportion as principal payments are allocated to the Corresponding Certificates, until the Uncertificated Principal Balances of such REMIC 2 Regular Interests are reduced to zero, and second, to the Holders of REMIC 2 Regular Interest ZZ, until the Uncertificated Principal Balance of such REMIC 2 Regular Interest is reduced to zero; provided, however, that 98% and 2% of any principal payments that are attributable to an Overcollateralization Release Amount shall be allocated to Holders of REMIC 2 Regular Interest AA and REMIC 2 Regular Interest ZZ, respectively; and (C) any remaining amount to the Holders of the Class R Certificates (in respect of the Class R-2 Interest);