Collections and Distributions. SECTION 4.1 Collections and Remittances by the Owner Trustee.
Collections and Distributions. The Manager will collect all sums payable to the Joint Venture and will distribute such amounts, after expenses of the Joint Venture, as set forth in this Agreement.
Collections and Distributions. 8 SECTION 3.1. Collections and Remittances by Certificate Trustee................. 8 SECTION 3.2.
Collections and Distributions. 10 SECTION 4.1 Collections and Remittances by the Owner Trustee........................................10 SECTION 4.2
Collections and Distributions. The following provisions shall govern the receipt, distribution and application of all income and proceeds from the Trust Estate:
Collections and Distributions. (a) While Seller is administrative agent and servicer for any Eligible Loans, Seller shall collect all payments due from Borrowers under the Loan Documents for such Loans (other than payoff amounts, which are to be paid by Borrowers directly to Buyer) and distribute them in accordance with Sections 5.8 and 5.9 of this Agreement on the last Business Day of each calendar month. Seller shall pay to Buyer within ten (10) days after receipt of any Receipts all sums due to Buyer in respect of such Receipts as provided in Section 5.8 and 5.9 of this Agreement; provided that in the event Seller receives any Receipts representing the payment of principal due under an Eligible Loan, Seller shall within one Business Day deposit all such Receipts into an account with Buyer that is controlled by Buyer. All fees associated with the account controlled by Buyer shall be paid by Buyer.
(b) Buyer shall distribute to Seller and Buyer payoff amounts deposited with Buyer under this section (i) on the same Business Day if received by Buyer before 12:00 pm New York time, or (ii) on the next Business Day if received by Buyer after 12:00 pm New York time, and in any event in accordance with the distribution priorities set forth in Section 5.8 and 5.9 of this Agreement.
(c) If either party fails to distribute funds in accordance with this Section 5.2 when due, the party failing to make such distribution shall be obligated to pay interest on the undistributed amount to the other party at the rate of the Interest Rate.
Collections and Distributions. SECTION 4.1 Collections and Remittances by the Owner Trustee. The Owner Trustee agrees that, subject to the provisions of this Trust Agreement and the Operative Agreements, it will during the term of this Trust administer the Trust Estate and, at the direction of the Holders, take steps to collect all Rent and other sums payable to the Owner Trustee by Lessee under the Lease. The Owner
Collections and Distributions a. The Participants hereby appoint Global to serve as the Loan Servicing Agent to collect payments from Borrower.
b. Notwithstanding the fact that the Global Interest and Martindale Interest are of equal rank, Global agrees that for so long as the Martindale Interest is outstanding, Borrower shall only make payment against the proportionate share of the Martindale Interest in the Note.
c. All principal payments by Borrower against the Martindale Interest shall be deemed a purchase by Global and a sale and assignment by Martindale of that principal interest in the Note. Notwithstanding the provisions of this Section 3(c), the Martindale Interest shall not be reduced until such time as Martindale has been paid 100% of the principal amount and all accrued interest attributable to the Martindale Interest, whereupon Global shall be deemed to have purchased and acquired the Martindale Interest in its entirety.
Collections and Distributions. Section 5.01 Collections................................................................17 Section 5.02 Distributions..............................................................17 Section 5.03 Distributions to Holders of Special Limited Partnership Interests and Limited Partner interests..................................................18 Section 5.04 Withholding................................................................19 Section 5.05 Limitations on Withdrawals and Distributions...............................19 Section 5.06 Distributions In Kind......................................................19
Collections and Distributions. 7 Section 3.1. Collections and Remittances by the Trustee................... 7 Section 3.2. Payments to the Agent ....................................... 7 Section 3.3. Effect of Sales by the Trustee .............................. 7
