Common use of Calculations; Distribution of Payments; Delivery of Notices Clause in Contracts

Calculations; Distribution of Payments; Delivery of Notices. The Corridor Contract Administrator hereby agrees to perform the calculations necessary to distribute payments in accordance with this Section 4. The Corridor Contract Administrator shall perform such calculations based on (x) the Certificate Principal Balances of the Benefited Certificates provided by the Trustee pursuant to the Pooling and Servicing Agreement and (y) the Notional Balances, Day Count Fractions and values of LIBOR provided by the Counterparty pursuant to the Corridor Contract. The Corridor Contract Administrator shall, absent manifest error, be entitled to rely on information provided by the Trustee and the Counterparty. On the Business Day of receipt of any payment from the Counterparty, the Corridor Contract Administrator shall withdraw the amount of such payment from the Corridor Contract Account and distribute such amounts sequentially, as follows:

Appears in 9 contracts

Samples: Corridor Contract Administration Agreement (CWABS Asset-Backed Certificates Trust 2007-4), Corridor Contract Administration Agreement (CWHEQ Home Equity Loan Trust, Series 2006-S2), Corridor Contract Administration Agreement (CWHEQ Home Equity Loan Trust, Series 2006-S3)

AutoNDA by SimpleDocs

Calculations; Distribution of Payments; Delivery of Notices. The Corridor Contract Administrator hereby agrees to perform the calculations necessary to distribute payments in accordance with this Section 4. The Corridor Contract Administrator shall perform such calculations based on (x) the aggregate Certificate Principal Balances Balance of the Benefited Certificates provided by the Trustee pursuant to the Pooling and Servicing Agreement and (y) the Notional Balances, Day Count Fractions and values of LIBOR provided by the Counterparty pursuant to the Corridor Contract. The Corridor Contract Administrator shall, absent manifest error, be entitled to rely on information provided by the Trustee and the Counterparty. On the Business Day of receipt of any payment from the Counterparty, the Corridor Contract Administrator shall withdraw the amount of such payment from the Corridor Contract Account and distribute such amounts sequentially, as follows:

Appears in 9 contracts

Samples: Corridor Contract Administration Agreement (CWHEQ Home Equity Loan Trust, Series 2006-S5), Corridor Contract Administration Agreement (CWHEQ Home Equity Loan Trust, Series 2006-S7), Corridor Contract Administration Agreement (CWHEQ Home Equity Loan Trust, Series 2006-S10)

Calculations; Distribution of Payments; Delivery of Notices. The Corridor Contract Administrator hereby agrees to perform the calculations necessary to distribute payments in accordance with this Section 4. The Corridor Contract Administrator shall perform such calculations based on (x) the Certificate Principal Balances of the Benefited Certificates provided by the Trustee pursuant to the Pooling and Servicing Agreement and (y) the Notional Balances, Day Count Fractions and values of LIBOR provided by the Counterparty pursuant to the each Corridor Contract. The Corridor Contract Administrator shall, absent manifest error, be entitled to rely on information provided by the Trustee and the Counterparty. On the Business Day of receipt of any payment from the Counterparty, the Corridor Contract Administrator shall withdraw the amount of such payment from the Corridor Contract Account and distribute such amounts sequentially, as follows:

Appears in 6 contracts

Samples: Corridor Contract Administration Agreement (CWABS Asset-Backed Certificates Trust 2007-7), Corridor Contract Administration Agreement (CWABS Asset-Backed Certificates Trust 2007-8), Corridor Contract Administration Agreement (CWABS Asset-Backed Certificates Trust 2007-5)

Calculations; Distribution of Payments; Delivery of Notices. The Corridor Contract Administrator hereby agrees to perform the calculations necessary to distribute payments in accordance with this Section 4. The Corridor Contract Administrator shall perform such calculations based on (x) the Class Certificate Principal Balances of the Benefited Certificates provided by the Trustee pursuant to the Pooling and Servicing Agreement and (y) the Notional Balances, Day Count Fractions and values of LIBOR provided by the Counterparty pursuant to the Corridor ContractContracts. The Corridor Contract Administrator shall, absent manifest error, be entitled to rely on information provided by the Trustee and the Counterparty. On the Business Day of receipt of any payment from the Counterparty, the Corridor Contract Administrator shall withdraw the amount of such payment from the Corridor Contract Account and distribute such amounts sequentially, as follows:

Appears in 2 contracts

Samples: Contract Administration Agreement (Alternative Loan Trust 2006-7cb), Corridor Contract Administration Agreement (CHL Mortgage Pass-Through Trust 2006-3)

Calculations; Distribution of Payments; Delivery of Notices. The Corridor Contract Administrator hereby agrees to perform the calculations necessary to distribute payments in accordance with this Section 4. The Corridor Contract Administrator shall perform such calculations based on (x) the Certificate Principal Balances of the Benefited Certificates provided by the Trustee Securities Administrator pursuant to the Pooling and Servicing Agreement and (y) the Notional Balances, Day Count Fractions and values of LIBOR provided by the Counterparty pursuant to the Corridor Contract. The Corridor Contract Administrator shall, absent manifest error, be entitled to rely on information provided by the Trustee Securities Administrator and the Counterparty. On the Business Day of receipt of any payment from the Counterparty, the Corridor Contract Administrator shall withdraw the amount of such payment from the Corridor Contract Account and distribute such amounts sequentially, as follows:

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Home Mortgage Assets Trust 2005-1)

AutoNDA by SimpleDocs

Calculations; Distribution of Payments; Delivery of Notices. The Corridor Contract Administrator hereby agrees to perform the calculations necessary to distribute payments in accordance with this Section 4. The Corridor Contract Administrator shall perform such calculations based on (x) the Class Certificate Principal Balances Balance of the Benefited Certificates provided by the Trustee pursuant to the Pooling and Servicing Agreement and (y) the Notional Balances, Day Count Fractions and values of LIBOR provided by the Counterparty pursuant to the Corridor ContractNovation Confirmation. The Corridor Contract Administrator shall, absent manifest error, be entitled to rely on information provided by the Trustee and the Counterparty. On the Business Day of receipt of any payment from the Counterparty, the Corridor Contract Administrator shall withdraw the amount of such payment from the Corridor Contract Account and distribute such amounts sequentially, as follows:

Appears in 1 contract

Samples: Corridor Contract Administration Agreement (Alternative Loan Trust 2006-41cb)

Calculations; Distribution of Payments; Delivery of Notices. The Corridor Contract Administrator hereby agrees to perform the calculations necessary to distribute payments in accordance with this Section 4. The Corridor Contract Administrator shall perform such calculations based on (x) the Class Certificate Principal Balances of the Benefited Certificates provided by the Trustee pursuant to the Pooling and Servicing Agreement and (y) the Notional Balances, Day Count Fractions and values of LIBOR provided by the Counterparty pursuant to the Corridor Contract. The Corridor Contract Administrator shall, absent manifest error, be entitled to rely on information provided by the Trustee and the Counterparty. On the Business Day of receipt of any payment from the Counterparty, the Corridor Contract Administrator shall withdraw the amount of such payment from the Corridor Contract Account and distribute such amounts sequentially, as follows:

Appears in 1 contract

Samples: Corridor Contract Administration Agreement (Alternative Loan Trust 2006-Oc2)

Time is Money Join Law Insider Premium to draft better contracts faster.