Certificate Distributions Sample Clauses
The Certificate Distributions clause outlines the process and conditions under which certificates—such as stock certificates, membership certificates, or other evidences of ownership—are issued and delivered to entitled parties. Typically, this clause specifies the timing, method, and requirements for distributing certificates, such as upon completion of a transaction, after payment, or following approval by a governing body. Its core practical function is to ensure that ownership interests are formally and accurately documented, thereby reducing disputes and providing clear evidence of rights or entitlements.
Certificate Distributions. (a) On each Distribution Date, the Trustee shall make the following allocations from the Asset Proceeds Account of an amount equal to the Group I Interest Funds in the following order of priority, and each such allocation shall be made only after all preceding allocations shall have been made until such amount shall have been fully allocated for such Distribution Date:
(i) to the Group I Class A Certificates and the Class A-IO-I Component, the Current Interest and any Interest Carry Forward Amount for the Group I Class A Certificates and the Class A-IO-I Component; provided, however, if the Group I Interest Funds and Group I Pledged Prepayment Penalties are not sufficient to make a full distribution of the Current Interest and any Interest Carry Forward Amount with respect to all the Group I Class A Certificates and the Class A-IO-I Component, such amount will be distributed pro rata among each Class of the Group I Class A Certificates and the Class A-IO-I Component based on the ratio of (x) the Current Interest and Interest Carry Forward Amount for each Class of the Group I Class A Certificates and the Class A-IO-I Component to (y) the total amount of Current Interest and any Interest Carry Forward Amount for the Group I Class A Certificates and the Class A-IO-I Component;
(ii) to the Class MF-1 Certificates, the Class MF-1 Current Interest;
(iii) to the Class MF-2 Certificates, the Class MF-2 Current Interest;
(iv) to the Class BF-1 Certificates, the Class BF-1 Current Interest; and
(v) any remainder pursuant to Section 3.03(e) hereof.
(b) On each Distribution Date, the Trustee shall make the following allocations from the Asset Proceeds Account of an amount equal to the Group II Interest Funds in the following order of priority, and each such allocation shall be made only after all preceding allocations shall have been made until such amount shall have been fully allocated for such Distribution Date:
(i) to the Group II Class A Certificates and the Class A-IO-II Component, the Current Interest and any Interest Carry Forward Amount for the Group II Class A Certificates and the Class A-IO-II Component; provided, however, if the Group II Interest Funds and Group II Pledged Prepayment Penalties are not sufficient to make a full distribution of the Current Interest and any Interest Carry Forward Amount with respect to the Group II Class A Certificates and the Class A-IO-II Component, such amount will be distributed pro rata among the Group II Class A Certifi...
Certificate Distributions. 41 Section 3.04. Reports to the Depositor and the Trustee:................ 46 Section 3.05. Reports by or on Behalf of the Master Servicer........... 47 Section 3.06. Advance Facility......................................... 48 Article IV The Certificates................................................ 49 Section 4.01. The Certificates......................................... 49 Section 4.02. Denominations............................................ 50
Certificate Distributions. (a) On each Distribution Date, the Trustee shall make the following allocations from the Distribution Account of an amount equal to the Group I Interest Funds in the following order of priority, and each such allocation shall be made only after all preceding allocations have been made until such amount shall have been fully allocated for such Distribution Date:
(i) to the Group I Class A Certificates, the Current Interest and any Interest Carry Forward Amount for the Group I Class A Certificates; provided, however, if such amount is not sufficient to make a full distribution of the Current Interest and any Interest Carry Forward Amount with respect to all the Group I Class A Certificates, such amount will be distributed pro rata among each Class of the Group I Class A Certificates based on the ratio of (x) the Current Interest and Interest Carry Forward Amount for each Class of the Group I Class A Certificates to (y) the total amount of Current Interest and any Interest Carry Forward Amount for the Group I Class A Certificates;
(ii) to the Class MF-1 Certificates, the Class MF-1 Current Interest; (iii) to the Class MF-2 Certificates, the Class MF-2 Current Interest;
Certificate Distributions. (a) On each Distribution Date, the Trustee shall make the following allocations from the Distribution Account of an amount equal to the Group I Interest Funds in the following order of priority, and each such allocation shall be made only after all preceding allocations shall have been made until such amount shall have been fully allocated for such Distribution Date:
Certificate Distributions. (a) On each Distribution Date, the Trustee shall make the following allocations from the Distribution Account of an amount equal to the Interest Funds in the following order of priority, and each such allocation shall be made only after all preceding allocations shall have been made until such amount shall have been fully allocated for such Distribution Date:
(i) to the Class AF Certificates, the Class AF Current Interest and any Interest Carry Forward Amount for the Class AF Certificates;
(ii) to the Class MF-1 Certificates, the Class MF-1 Current Interest;
(iii) to the Class MF-2 Certificates, the Class MF-2 Current Interest;
(iv) to the Class BF Certificates, the Class BF Current Interest; and
(v) any remainder pursuant to Section 3.02(c) hereof.
(b) On each Distribution Date, the Trustee shall make the following allocations from the Distribution Account of an amount equal to the Principal Distribution Amount in the following order of priority, and each such allocation shall be made only after all preceding allocations shall have been made until such amount shall have been fully allocated for such Distribution Date:
(i) to the Class AF Certificates, the Class AF Principal Distribution Amount;
(ii) to the Class MF-1 Certificates, the Class MF-1 Principal Distribution Amount;
(iii) to the Class MF-2 Certificates, the Class MF-2 Principal Distribution Amount;
(iv) to the Class BF Certificates, the Class BF Principal Distribution Amount ; and
(v) to the Class R Certificates;
Certificate Distributions. Subject to the provisions of Sections 5.04 and 6.02, the Issuer Certificate Agent shall distribute all Available Funds pursuant to and in accordance with this Section 5.03.
Certificate Distributions. 15 Section 3.02. Reports to the Depositor and the Trustee:..................... 16 Section 3.03.
Certificate Distributions. 15 Section 3.02. Reports to the Depositor and the Trustee:..................... 16 Section 3.03.