DISTRIBUTION OF PRINCIPAL; TERMINATION Sample Clauses

DISTRIBUTION OF PRINCIPAL; TERMINATION. The Trustee shall not transfer all or any part of the Trust Estate, and/or any income accrued or accumulated thereon, to the Beneficiary (or to any designated assignee of such Beneficiary), unless and until approved by the Trustee or unless as otherwise provided in the Amended and Restated Limited Liability Company Agreement of Grantor dated as of _____, 2004 (the "LLC AGREEMENT"). The Additional Properties Trustee shall not transfer all or any part of the Additional Properties Trust Estate, and/or any income accrued or accumulated thereon, to the Beneficiary (or to any designated assignee of such Beneficiary), unless and until approved by the Additional Properties Trustee or unless as otherwise provided in the LLC Agreement. The Trust hereunder shall terminate upon the earlier of (i) the distribution of the entire remaining Trust Estate and Additional Properties Trust Estate to the Beneficiary or (ii) the date that is twenty-one (21) years from the date hereof.
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DISTRIBUTION OF PRINCIPAL; TERMINATION. The Trustee shall not transfer all or any part of the Trust Estate, and/or any income accrued or accumulated thereon, to the Beneficiary (or to any designated assignee of such Beneficiary), unless and until approved by the Trustee or unless as otherwise provided in the Amended and Restated Operating Agreement of Grantor dated as of__________, 2004 (the "LLC AGREEMENT"). The Cordish Properties Trustee shall not transfer all or any part of the Cordish Properties Trust Estate, and/or any income accrued or accumulated thereon, to the Beneficiary (or to any designated assignee of such Beneficiary), unless and until approved by the Cordish Properties Trustee or unless as otherwise provided in the LLC Agreement. The CRC Properties Trustee shall not transfer all or any part of the CRC Properties Trust Estate, and/or any income accrued or accumulated thereon, to the Beneficiary (or to any designated assignee of such Beneficiary), unless and until approved by the CRC Properties Trustee or unless as otherwise provided in the LLC Agreement. The Trust hereunder shall terminate upon the earlier of (i) the distribution of the entire remaining Trust Estate, Cordish Properties Trust Estate and the CRC Properties Trust Estate to the Beneficiary or (ii) the date that is twenty-one (21) years from the date hereof.
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Related to DISTRIBUTION OF PRINCIPAL; TERMINATION

  • Extension of Payment; Reduction of Principal Interest or Fees; Modification of Terms of Payment Whether or not any Loans are outstanding, extend the Expiration Date or the time for payment of principal or interest of any Loan (excluding the due date of any mandatory prepayment of a Loan), the Commitment Fee or any other fee payable to any Lender, or reduce the principal amount of or the rate of interest borne by any Loan or reduce the Commitment Fee or any other fee payable to any Lender, without the consent of each Lender directly affected thereby;

  • Termination Upon Distribution to Noteholders This Indenture and the respective obligations and responsibilities of the Issuer and the Indenture Trustee created hereby shall terminate upon the distribution to the Noteholders, the Certificate Paying Agent on behalf of the Certificateholders and the Indenture Trustee of all amounts required to be distributed pursuant to Article III; provided, however, that in no event shall the trust created hereby continue beyond the expiration of 21 years from the death of the survivor of the descendants of Xxxxxx X. Xxxxxxx, the late ambassador of the United States to the Court of St. James's, living on the date hereof.

  • Payment of Principal, Premium and Interest The Company covenants and agrees for the benefit of each series of Securities that it will duly and punctually pay the principal of and any premium and interest on the Securities of that series in accordance with the terms of the Securities and this Indenture.

  • Payment of Principal Premium, if any, and Interest; Interest on Overdue Principal; Principal, Premium, if any, and Interest Rights Preserved.

  • Payment of Principal, Premium, if any, and Interest The Company covenants and agrees for the benefit of the Holders of the Securities that it will duly and punctually pay the principal of and any premium and interest (including any Additional Interest) on the Securities in accordance with the terms of the Securities and this Indenture.

  • Distribution of Benefits Payment to Executive shall occur within thirty (30) days of the effective date of Executive's vesting in his Deferred Bonus Account. For purposes of determining the distributable amount, the Deferred Bonus Account shall be valued through the day prior to the day on which the Deferred Bonus Account is distributed, less any claim, debt, reimbursement, recoupment, or offset the Company may have against Executive.

  • Establishment of Certificate Distribution Account (a) Except as otherwise provided in Section 5.2, the Administrator, for the benefit of the Certificateholders, shall establish and maintain in the name of the Trust an Eligible Deposit Account known as the Ally Auto Receivables Trust 2014-SN1 Certificate Distribution Account (the “Certificate Distribution Account”), bearing an additional designation clearly indicating that the funds deposited therein are held for the benefit of the Certificateholders.

  • Certificate Distribution Account The Certificate Distribution Account shall be established as a non-interest bearing trust account pursuant to Section 4.1 of the Sale and Servicing Agreement. Funds on deposit in the Certificate Distribution Account shall be held uninvested. The Certificateholders shall possess all beneficial right, title and interest in and to all funds on deposit from time to time in the Certificate Distribution Account and all proceeds thereof. Except as otherwise provided herein, in the Indenture or in the Sale and Servicing Agreement, the Certificate Distribution Account shall be under the sole dominion and control of the Certificate Paying Agent for the benefit of the Certificateholders. If, at any time, the Certificate Distribution Account ceases to be an Eligible Account, the Servicer on behalf of the Issuer, shall, within ten (10) Business Days (or such longer period) after becoming aware of the fact, establish a new Certificate Distribution Account as an Eligible Account and shall direct the Certificate Paying Agent to transfer any cash then on deposit in the Certificate Distribution Account to such new Certificate Distribution Account.

  • Note Distribution Account (a) On each Distribution Date (based solely on the information contained in the Preliminary Servicer’s Certificate) the Trust Collateral Agent shall distribute all amounts on deposit in the Note Distribution Account to Noteholders in respect of the Notes to the extent of amounts due and unpaid on the Notes for principal and interest in the following amounts and in the following order of priority:

  • Repayment of Principal Except as otherwise provided herein, the Company will repay the outstanding principal amount of this Note within fourteen (14) Business Days of the Offering Funding Date (the “Maturity Date”). This Note does not bear interest. At the option of the Lender, funds available for repayment of the loan may be held in a Company account, interest free, after the Maturity Date. Such funds shall not be used or otherwise pledged until such time as the Company and Lender have entered into another note.

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