REPORTS OF SECURITY PRINCIPAL BALANCES TO THE CLEARING AGENCY Sample Clauses

This clause requires the reporting of security principal balances to the clearing agency. In practice, it obligates parties—typically issuers or servicers—to regularly provide accurate information about the outstanding principal amounts of securities to the clearing agency responsible for settlement and recordkeeping. For example, after each payment period, updated balances must be communicated to ensure the clearing agency's records reflect the current status of each security. The core function of this clause is to maintain transparency and accuracy in the records held by the clearing agency, thereby supporting efficient settlement and reducing the risk of discrepancies or errors in securities transactions.
REPORTS OF SECURITY PRINCIPAL BALANCES TO THE CLEARING AGENCY. If and for so long as any Certificate is held by the Clearing Agency, on the second Business Day before each Distribution Date, the Trustee shall give oral notice to the Clearing Agency (and shall promptly thereafter confirm in writing) the following: (a) the amount of interest and principal to be distributed on the Certificates of such Class on the upcoming Distribution Date, as reported in the related Remittance Report, (b) the Record Date for such distribution, (c) the Distribution Date for such distribution and (d) the aggregate Certificate Principal Balance of each Class of Certificates reported pursuant to clause (10) of Section 4.01 hereof in such month.
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REPORTS OF SECURITY PRINCIPAL BALANCES TO THE CLEARING AGENCY. If and for so long as any Certificate is held by the Clearing Agency, before each Distribution Date, the Trustee shall give oral notice to the Clearing Agency pursuant to the Clearing Agency's current guidelines (and shall promptly thereafter confirm in writing) the following: (a) the amount of interest and principal to be distributed on the Certificates of such Class on the upcoming Distribution Date, as reported in the related Remittance Report, (b) the Record Date for such distribution, (c) the Distribution Date for such distribution and (d) the aggregate Certificate Principal Balance of each Class of Certificates reported pursuant to clause (10) of Section 4.01 hereof in such month.
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REPORTS OF SECURITY PRINCIPAL BALANCES TO THE CLEARING AGENCY. If and for so long as any Certificate is held by the Clearing Agency, on the second Business Day before each Distribution Date, the Trustee shall give oral notice to the Clearing Agency (and shall promptly thereafter confirm in writing) the following: (a) the amount of interest and principal to be distributed on the Certificates of such Class on the upcoming Distribution Date, as reported in the related Remittance Report, (b) the Record Date MARCH 1997 STANDARD TERMS TO POOLING AND SERVICING AGREEMENT -50- for such distribution, (c) the Distribution Date for such distribution and (d) the aggregate Certificate Principal Balance of each Class of Certificates reported pursuant to clause (10) of Section 4.01 hereof in such month.
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Related to REPORTS OF SECURITY PRINCIPAL BALANCES TO THE CLEARING AGENCY

  • Designation of Additional Amounts to Be Included in the Excess Spread Amount for the DiscoverSeries Notes At any time that any outstanding Series of certificates issued by the Master Trust provides that the Series Principal Collections allocated to such Series will be deposited into the Group Finance Charge Collections Reallocation Account for the Master Trust to the extent necessary for application to cover shortfalls for other Series issued by the Master Trust, an amount equal to (x) all Series Principal Collections allocated to such Series, multiplied by (y) a fraction, the numerator of which is the sum of the Nominal Liquidation Amounts for each outstanding Tranche of the DiscoverSeries Notes (including these notes) and the denominator of which is (i) the Aggregate Investor Interest for the Master Trust minus (ii) the sum of the Series Investor Interests for all such Series that provide that the Series Principal Collections allocated to such Series will be so deposited, is hereby designated to be included in the Excess Spread Amount and shall be treated as Series Finance Charge Amounts for the DiscoverSeries.

  • Certificates Issuable in Classes; Distributions of Principal and Interest; Authorized Denominations The aggregate principal amount of the Certificates that may be authenticated and delivered under this Agreement is limited to the aggregate Principal Balance of the Mortgage Loans as of the Cut-Off Date, as specified in the Preliminary Statement to this Agreement, except for Certificates authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Certificates pursuant to Section 5.03. Such aggregate principal amount shall be allocated among one or more Classes having designations, types of interests, initial per annum Certificate Interest Rates, initial Class Principal Balances and Final Maturity Dates as specified in the Preliminary Statement to this Agreement. The aggregate Percentage Interest of each Class of Certificates of which the Class Principal Balance equals zero as of the Cut-Off Date that may be authenticated and delivered under this Agreement is limited to 100%. Certificates shall be issued in Authorized Denominations.

  • Original Class B Principal Balance The Original Class B Principal Balance is $7,500,485.88.

  • 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

  • Determination of Monthly Principal (a) The amount of monthly principal distributable from the Principal Account with respect to the Class A Certificates on each Transfer Date ("Class A Monthly Principal"), beginning with the Transfer Date in the month following the month in which the Controlled Accumulation Period or, if earlier, the Rapid Accumulation Period or the Rapid Amortization Period begins, shall be equal to the least of (i) the Available Investor Principal Collections on deposit in the Principal Account with respect to such Transfer Date, (ii) for each Transfer Date with respect to the Controlled Accumulation Period, the Controlled Deposit Amount for such Transfer Date and (iii) the Class A Adjusted Investor Interest (after taking into account any adjustments to be made on such Transfer Date pursuant to Section 4.10) prior to any deposit into the Principal Funding Account on such Transfer Date. (b) The amount of monthly principal distributable from the Principal Account with respect to the Class B Certificates on each Transfer Date (the "Class B Monthly Principal"), with respect to the Controlled Accumulation Period or the Rapid Accumulation Period, beginning with the Transfer Date on which an amount equal to the Class A Investor Interest has been deposited in the Principal Funding Account (after taking into account any deposits to be made on such Transfer Date), or during the Rapid Amortization Period, beginning with the Transfer Date immediately preceding the Distribution Date on which the Class A Investor Interest will be paid in full (after taking into account payments to be made on the related Distribution Date), shall be an amount equal to the least of (i) the Available Investor Principal Collections on deposit in the Principal Account with respect to such Transfer Date (minus the portion of such Available Investor Principal Collections applied to Class A Monthly Principal on such Transfer Date), (ii) for each Transfer Date with respect to the Controlled Accumulation Period, the Controlled Deposit Amount for such Transfer Date (minus the Class A Monthly Principal with respect to such Transfer Date) and (iii) the Class B Adjusted Investor Interest (after taking into account any adjustments to be made on such Transfer Date pursuant to Sections 4.10 and 4.12) prior to any deposit into the Principal Funding Account on such Transfer Date. (c) The amount of monthly principal distributable from the Principal Account with respect to the Collateral Interest on each Transfer Date (the "Collateral Monthly Principal"), with respect to the Controlled Accumulation Period, beginning with the Transfer Date on which an amount equal to the sum of (i) the Class A Investor Interest and (ii) the Class B Investor Interest has been deposited in the Principal Funding Account (after taking into account any deposits to be made on such Transfer Date), or during the Rapid Accumulation Period or the Rapid Amortization Period, beginning with the Transfer Date immediately preceding the Distribution Date on which the Class B Investor Interest will be paid in full (after taking into account payments to be made on the related Distribution Date), shall be an amount equal to the least of (i) the Available Investor Principal Collections on deposit in the Principal Account with respect to such Transfer Date (minus the portion of such Available Investor Principal Collections applied to Class A Monthly Principal and Class B Monthly Principal on such Transfer Date), (ii) for each Transfer Date with respect to the Controlled Accumulation Period, the Controlled Deposit Amount for such Transfer Date (minus the Class A Monthly Principal and Class B Monthly Principal with respect to such Transfer Date) and (iii) the Collateral Interest Adjusted Amount (after taking into account any adjustments to be made on such Transfer Date pursuant to Sections 4.10 and 4.12) prior to any deposit into the Principal Funding Account on such Transfer Date.