Accounting and Directions by Trustee Sample Clauses

Accounting and Directions by Trustee. (a) Trustee shall determine whether an Insured Payment will be required to be made by the Certificate Insurer on the following Payment Date and if so then no later than 12:00 noon on the second Business Day immediately preceding the related Payment Date the Trustee shall furnish the Certificate Insurer and the Depositor with a completed Notice in the form set forth as Exhibit A to the Certificate Insurance Policy Agreement. The Notice shall specify the amount of the Insured Payment and shall constitute a claim for an Insured Payment pursuant to the Certificate Insurance Policy. (b) By 12:00 noon New York time, on the Business Day preceding each Payment Date (or such earlier period as shall be agreed by the Depositor and the Trustee), the Trustee shall notify (subject to the terms of Section 10.03(j) hereof, based solely on information provided to the Trustee by the Servicer) the Depositor, each of the Sellers, the Master Servicer, the Certificate Insurer and each Owner of the following information with respect to the next Payment Date (which notification may be given by facsimile or by telephone promptly confirmed in writing): (i) The aggregate amount then on deposit in the Certificate Account; (ii) The Class A Distribution Amount, with respect to each Class individually and all Classes of the Class A Certificates in the aggregate, on the next Payment Date and the related Class B Distribution Amount; (iii) The amount of any Insured Payment to be made by the Certificate Insurer on such Payment Date; (iv) The application of the amounts described in clause (i) preceding to the allocation and distribution of the Class A Distribution Amounts, and the Class B Distribution Amount, on such Payment Date in accordance with Section 7.03 hereof; (v) The Certificate Principal Balance of each Class of the Class A and Class B Certificates, the Class A-9IO Notional Principal Amount, the aggregate amount of the principal of each Class of Certificates to be paid on such Payment Date and the remaining Certificate Principal Balance (or Class A-9IO Notional Principal Amount) of each Class of Certificates following any such payment; (vi) The amount, if any, of any Realized Losses for the related Remittance Period in the aggregate and for each of the Loan Group I and Loan Group II and the amount of Cumulative Realized Losses as of the last day of the related Remittance Period; and (vii) The Six-Month Rolling Average Excess Spread and the Six-Month Rolling Average 90+ Day Delinqu...
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Accounting and Directions by Trustee. By 12:00 noon New York time, on each Distribution Date (or such earlier period as shall be agreed by the Seller and the Trustee), the Trustee shall notify (subject to the terms of Section 10.03(j) hereof, based solely on information provided to the Trustee by the Servicer and upon which the Trustee may conclusively rely) the Seller, the Depositor and each Owner, of the following information with respect to such Distribution Date (which notification may be given by facsimile, or by telephone promptly confirmed in writing): (1) The aggregate amount on deposit in the Certificate Account as of the related Determination Date; (2) The Class Principal Distribution Amount, with respect to each Class individually, and all Classes in the aggregate on the next Distribution Date; (3) The amount of any Excess Interest; (4) The application of the amounts described in clauses (1) and (3) above to be made on such Distribution Date in accordance with Section 7.03 hereof; (5) The Certificate Principal Balance of each Class, the aggregate amount of the principal of each Class of the Offered Certificates to be paid on such Distribution Date and the remaining Certificate Principal Balance of each Class of Offered Certificates following any such payment; (6) The amount, if any, of any Realized Losses for each Home Equity Loan Group for the related Remittance Period and any Applied Realized Loss Amounts with respect to the Subordinate Certificates for the related Distribution Date; and (7) The amount of any Subordination Increase Amount, any Excess Overcollateralization Amount and the Required Overcollateralization Amount, in each case for the relevant Distribution Date.
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Accounting and Directions by Trustee. On the second Business Day prior to each Distribution Date occurring on or prior to the latest to occur of the Class A-1 Certificate Termination Date, Class A-2 Certificate Termination Date, Class A-3 Certificate Termination Date, Class A-4 Certificate Termination Date, Class A-5 Certificate Termination Date and the Class A-6 Certificate Termination Date, the Trustee shall determine, no later than 12:00 noon New York time on such date, whether an Insured Payment will be required to be made by the Certificate Insurer on the following Distribution Date. If the Trustee determines that an Insured Payment will be required to be made by the Certificate Insurer on the following Distribution Date, then no later than 12:00 noon on the second Business Day immediately preceding the related Distribution Date the Trustee shall furnish the Certificate Insurer and the Depositor with a completed Notice in the form set forth as Exhibit A to the applicable Certificate Insurance Policy. The Notice shall specify the amount of Insured Payment and shall constitute a claim for an Insured Payment pursuant to such Certificate Insurance Policy.
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Accounting and Directions by Trustee. On the second Business Day prior to each Distribution Date occurring on or prior to the latest to occur of the Class A-1 Certificate Termination Date, Class A-2 Certificate Termination Date, Class A-3 Certificate Termination Date, Class A-4 Certificate Termination Date, Class A-5 Certificate Termination Date, Class A-6 Certificate Termination Date, Class A-7 Certificate Termination Date and the Class A-8 Certificate Termination Date, the Trustee shall determine, no later than 12:00 noon New York time on such date, whether an Insured Payment will be required to be made by the Certificate Insurer on the following Distribution Date. If the Trustee determines that an Insured Payment will be required to be made by the Certificate Insurer on the following Distribution Date, then no later than 12:00 noon on the second Business Day immediately preceding the related Distribution Date the Trustee shall furnish the Certificate Insurer and the Depositor with a completed Notice in the form set forth as Exhibit A to the applicable Certificate Insurance Policy. The Notice shall specify the amount of Insured Payment and shall constitute a claim for an Insured Payment pursuant to such Certificate Insurance Policy.
Sample 1
Accounting and Directions by Trustee. On or before the Business Day preceding each Payment Date, the Trustee shall notify (subject to the terms of Section 10.03(j) hereof) the Depositor and the Seller of the following information with respect to the next Payment Date (which notification may be given by facsimile, or by telephone promptly confirmed in writing):
Sample 1
Accounting and Directions by Trustee. By noon New York time, on each Deposit Date (or such earlier date as shall be agreed by the Servicer and the Trustee), the Trustee shall, based on information provided to the Trustee by the Servicer, notify the Depositor and each Holder of the following information with respect to the next Distribution Date (which notification may be given by facsimile, or by telephone promptly confirmed in writing): (1) Each Class A Subclass Interest Amount, Class M Subclass Interest Amount and Class B Subclass Interest Amount; (2) The Class A Principal Distribution Amount; (3) The application of the Class A Principal Distribution Amount in respect of each Class A Subclass, together with each Class M Subclass Principal Distribution Amount and each Class B Subclass Principal Distribution Amount, on such Distribution Date; (4) The Principal Balance (or notional amount, as applicable) of each Class and Subclass of Certificates following such payment; (5) The amount of any Realized Losses for the related Collection Period; and (6) The amount of 60+ Day Delinquent Loans.
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Accounting and Directions by Trustee. On the third Business Day prior to each Distribution Date occurring on or prior to the later to occur of the Class A-1 Certificate Termination Date and the Class A-2 Certificate Termination Date, the Trustee shall determine, no later than 12:00 noon New York time on such date, whether an Insured Payment will be required to be made by the Certificate Insurer on the following Distribution Date. If the Trustee determines that an Insured Payment will be required to be made by the Certificate Insurer on the following Distribution Date then no later than 12:00 noon on the third Business Day immediately preceding the related Distribution Date the Trustee shall furnish the Certificate Insurer and the Depositor with a completed Notice in the form set forth as Exhibit A to the applicable Certificate Insurance Policy. The Notice shall specify the amount of Insured Payment and shall constitute a claim for an Insured Payment pursuant to such Certificate Insurance Policy.
Sample 1
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Accounting and Directions by Trustee. On the third Business Day prior to each Distribution Date occurring on or prior to the later to occur of the Class A-1 Certificate Termination Date, Class A-2 Certificate Termination Date, Class A-3 Certificate Termination Date and Class A-4 Certificate Termination Date, the Trustee shall determine, no later than 12:00 noon New York time on such date, whether an Insured Payment will be required to be made by the Certificate Insurer on the following Distribution Date. If the Trustee determines that an Insured Payment will be required to be made by the Certificate Insurer on the following Distribution Date then no later than 12:00 noon on the third Business Day immediately preceding the related Distribution Date the Trustee shall furnish the Certificate Insurer and the Depositor with a completed Notice in the form set forth as Exhibit A to the applicable Certificate Insurance Policy. The Notice shall specify the amount of Insured Payment and shall constitute a claim for an Insured Payment pursuant to such Certificate Insurance Policy.
Sample 1

Related to Accounting and Directions by Trustee

  • Determinations by Trustees The Trustees may make any determinations they deem necessary with respect to the provisions of this Declaration of Trust, including the following matters: the amount of the assets, obligations, liabilities and expenses of the Trust or any Series or Class; the amount of the net income of the Trust or any Series or Class from dividends, capital gains, interest or other sources for any period and the amount of assets at any time legally available for the payment of dividends or distributions; which items are to be treated as income and which as capital; the amount, purpose, time of creation, increase or decrease, alteration or cancellation of any reserves or charges and the propriety thereof (whether or not any obligation or liability for which such reserves or charges were created shall have been paid or discharged); the market value, or any other price to be applied in determining the market value, or the fair value, of any security or other asset owned or held by the Trust or any Series or Class; the number of Shares of the Trust or any Series or Class issued or issuable; and the net asset value per Share.

  • Actions by Trustee SECTION 5.1 Prior Notice to Certificateholders with Respect to Certain Matters............. 21 SECTION 5.2 Action by Trustee with Respect to Certain Matters.............................. 22 SECTION 5.3

  • Accounting by Trustee Trustee shall keep accurate and detailed records of all investments, receipts, disbursements, and all other transactions required to be made, including such specific records as shall be agreed upon in writing between Company and Trustee. Within sixty (60) days following the close of each calendar year and within sixty (60) days after the removal or resignation of Trustee, Trustee shall deliver to Company a written account of its administration of the Trust during such year or during the period from the close of the last preceding year to the date of such removal or resignation, setting forth all investments, receipts, disbursements and other transactions effected by it, including a description of all securities and investments purchased and sold with the cost or net proceeds of such purchases or sales (accrued interest paid or receivable being shown separately), and showing all cash, securities and other property held in the Trust at the end of such year or as of the date of such removal or resignation, as the case may be.

  • Rules by Trustee and Agents The Trustee may make reasonable rules for action by or at a meeting of Holders. The Registrar or Paying Agent may make reasonable rules and set reasonable requirements for its functions.

  • Deposited Monies to Be Held in Trust by Trustee Subject to Section 7.04, all monies deposited with the Trustee pursuant to Section 7.01 shall be held in trust for the sole benefit of the Holders of the Notes, and such monies and shall be applied by the Trustee to the payment, either directly or through any Paying Agent (including the Company if acting as its own Paying Agent), to the Holders of the particular Notes for the payment of all sums or amounts due and to become due thereon for principal and interest, if any.

  • Delegation by Trustees Subject only to any limitations required by federal law including the 1940 Act, the Trustees may delegate any and all powers and authority hereunder as they consider desirable to any officer of the Trust, to any committee of the Trustees, any committee composed of Trustees and other persons and any committee composed only of persons other than Trustees and to any agent, independent contractor or employee of the Trust or to any custodian, administrator, transfer or shareholder servicing agent, Manager, investment advisor or sub-advisor, Principal Underwriter or other service provider, provided that such delegation of power or authority by the Trustees shall not cause any Trustee to cease to be a Trustee of the Trust or cause such person, officer, agent, employee, custodian, transfer or shareholder servicing agent, Manager, Principal Underwriter or other service provider to whom any power or authority has been delegated to be a Trustee of the Trust. The reference in this Declaration of Trust to the right of the Trustees to, or circumstances under which they may, delegate any power or authority, or the reference in this Declaration of Trust to the authorized agents of the Trustees or any other Person to whom any power or authority has been or may be delegated pursuant to any specific provision of this Declaration of Trust, shall not limit the authority of the Trustees to delegate any other power or authority under this Declaration of Trust to any Person, subject only to any limitations under federal law including the 1940 Act.

  • Deposited Moneys to be Held in Trust by Trustee Subject to the provisions of the last paragraph of Section 4.03, all moneys deposited with the Trustee pursuant to Section 12.01 shall be held in trust and applied by it to the payment, either directly or through any paying agent (including the Company acting as its own paying agent), to the persons entitled thereto, of all sums due and to become due thereon for principal and interest (and premium, if any) for which payment of such money has been deposited with the Trustee.

  • Acceptance of Trust Fund by Trustee: Review of Documentation for Trust Fund (a) The Trustee, by execution and delivery hereof and the below-referenced delivery to the Trustee of the Certification and Exception Report, acknowledges receipt by it (or by the Custodian on its behalf) of the Trustee Mortgage Files pertaining to the Mortgage Loans listed on the Mortgage Loan Schedule, subject to review thereof by the Custodian on behalf of the Trustee in accordance with Section 3.2 of the Custodial Agreement and the exceptions set forth on the Exception Report. The Custodian, on behalf of the Trustee, will execute and deliver to the Trustee and the Depositor a Certification and Exception Report on the Closing Date in the forms required by the Custodial Agreement. (b) Within 270 days after the Closing Date, the Custodian, on behalf of the Trustee, will, for the benefit of Holders of the Certificates, review each related Trustee Mortgage File to ascertain that all required documents set forth in the Custodial Agreement have been received and appear on their face to conform with the requirements set forth in Sections 3.2 and 3.3 of the Custodial Agreement. (c) Nothing in this Agreement shall be construed to constitute an assumption by the Trust Fund, the Trustee, the Custodian or the Certificateholders of any unsatisfied duty, claim or other liability on any Mortgage Loan or to any Mortgagor. (d) Each of the parties hereto acknowledges that the Custodian shall perform the applicable review of the related Mortgage Loans and respective certifications as provided in the Custodial Agreement. (e) Upon execution of this Agreement, the Depositor hereby delivers to the Trustee and the Trustee acknowledges receipt of the Acknowledgements, together with the Purchase Agreements, the Servicing Agreements and the Mortgage Loan Purchase and Sale Agreement.

  • HOLDERS' LISTS AND REPORTS BY TRUSTEE AND COMPANY Section 7.01 Company to Furnish Trustee Names and Addresses of Holders...41 Section 7.02 Preservation of Information; Communications to Holders......42 Section 7.03 Reports by Trustee..........................................42 Section 7.04 Reports by Company..........................................42 Section 7.05 Holders' Meetings...........................................43 ARTICLE VIII.

  • Trustee and Agents May Hold Securities; Collections, etc The Trustee or any agent of the Issuer or the Trustee, in its individual or any other capacity, may become the owner or pledgee of Securities with the same rights it would have if it were not the Trustee or such agent and may otherwise deal with the Issuer and receive, collect, hold and retain collections from the Issuer with the same rights it would have if it were not the Trustee or such agent.

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