Distributions of Interest Sample Clauses

Distributions of Interest. With respect to each PC Pool, the Administrator, on behalf of the Trustee, shall withdraw from the Custodial Account and shall distribute to each related Holder its pro rata share of interest collections with respect to the Mortgages included in such PC Pool, at a rate equal to the PC Coupon (excluding, if applicable, each Holder’s pro rata share of any Deferred Interest that has been added to the principal balance of the related Mortgages). Interest shall accrue during the applicable Accrual Periods. The Administrator may retain from any delinquent interest payment on any Mortgage, for reimbursement to the Guarantor, any amount not previously received with respect to such Mortgage but paid by the Guarantor to the related Holders under its guarantee. With respect to each PC Pool, a partial month’s interest retained by Xxxxxxx Mac or remitted to the related Holders with respect to prepayments shall constitute an adjustment to the fee payable to the Administrator and the Guarantor pursuant to Section 3.08(a) for such PC Pool.
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Distributions of Interest. With respect to each Pool, the Administrator, on behalf of the Trustee, shall withdraw from the Custodial Account and shall distribute to each related Holder its pro rata share of interest collections with respect to the Mortgages included in such Pool, at a rate equal to the Coupon. Interest shall accrue during each Accrual Period. The Administrator may retain from any delinquent interest payment on any Mortgage, for reimbursement to the Guarantor, any amount not previously received with respect to such Mortgage but paid by the Guarantor to the related Holders under its guarantee. With respect to each Pool, a partial month’s interest retained by Freddie Mac or remitted to the related Holders with respect to prepayments shall constitute an adjustment to the fee payable to the Administrator and the Guarantor pursuant to Section 3.08(a) for such Pool.
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Distributions of Interest. With respect to each PC Pool, the Administrator, on behalf of the Trustee, shall withdraw from the Custodial Account and shall distribute to each related Holder its pro rata share of interest collections with respect to the Mortgages included in such PC Pool, at a rate equal to the PC Coupon. Interest shall accrue during the applicable Accrual Periods and be determined as provided in the applicable Pool Supplement. The Administrator may retain from any delinquent interest payment on any Mortgage, for reimbursement to the Guarantor, any amount not previously received with respect to such Mortgage but paid by the Guarantor to the related Holders under its guarantee. With respect to each PC Pool, a partial month’s interest retained by Xxxxxxx Mac or remitted to the related Holders with respect to prepayments shall constitute an adjustment to the fee payable to the Administrator and the Guarantor pursuant to Section 3.08(a) for such PC Pool.
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Distributions of Interest. All interest collections with respect to each Group are required to be distributed in the following order of priority until such amounts have been fully distributed: A. For interest collections with respect to Group I: 1. To the Trustee, the Trustee Fee and any Transition Expenses for Group I; 2. To each Class of the Senior Certificates of Group I, the Class Monthly Interest Amount and any Class Interest Carryover Shortfall for such Class on that Distribution Date; provided, however, if the interest collections for Group I are not sufficient to make a full distribution of the Class Monthly Interest Amount and any Class Interest Carryover Shortfall with respect to the Senior Certificates of Group I, the interest collections for Group I will be distributed pro rata among each class of Senior Certificates of Group I based on the ratio of: (i) the Class Monthly Interest Amount and Class Interest Carryover Shortfall for that Class to (ii) the total amount of Class Monthly Interest Amount and any Class Interest Carryover Shortfall for the Senior Certificates of Group I; 3. To the Class MF-1 Certificates, the Class Monthly Interest Amount for that Class and Distribution Date; 4. To the Class MF-2 Certificates, the Class Monthly Interest Amount for that Class and Distribution Date; 5. To the Class MF-3 Certificates, the Class Monthly Interest Amount for that Class and Distribution Date; 6. To the Class BF Certificates, the Class Monthly Interest Amount for that Class and Distribution Date; and 7. Any remainder will be treated as Excess Interest of Group I and distributed pursuant to clause (iii) Distributions of Excess Interest, below. B. For interest collections with respect to Groups II and III: 1. To the Trustee, (a) from interest collections for Group II, the Trustee Fee and any Transition Expenses for Group II, and (b) from interest collections for Group III, the Trustee Fee and any Transition Expenses for Group III; (a) From interest collections for Group II, to the Class AV-1 Certificates, the Class Monthly Interest Amount and any Class Interest Carryover Shortfall for such Class on that Distribution Date, and (b) from interest collections for Group III, to each Class of Senior Certificates of Group III, the Class Monthly Interest Amount and any Class Interest Carryover Shortfall for such Class on that Distribution Date; provided, however, if the interest collections for Group III and (to the extent described in paragraph (3.) of this clause (i)(B.), below)...
Sample 1
Distributions of Interest. On each Distribution Date, the Certificate Administrator shall withdraw from the Certificate Account that portion of the Available Funds which represents the Interest Remittance Amount for that distribution date and apply such amount in the following order of priority (based solely upon information provided by the Servicer): (i) to the Expense Account, an amount equal to one-twelfth of the Annual Expense Escrow Amount with respect to the Mortgage Loans, plus any amount required to be paid to the Trustee, the Certificate Administrator or the Custodian pursuant to Section 6.02(a) resulting from insufficiencies in such Expense Account; (ii) concurrently, to the Holders of the Class A-1, Class A-2 and Class A-3 Certificates, the related Current Interest and any Interest Shortfall Carryforward Amount for each such Class; (iii) to the Holders of the Class M-1 Certificates, the related Current Interest and any Interest Shortfall Carryforward Amount for such Class; (iv) to the Holders of the Class M-2 Certificates, the related Current Interest and any Interest Shortfall Carryforward Amount for such Class; (v) to the Holders of the Class B-1 Certificates, the related Current Interest and any Interest Shortfall Carryforward Amount for such Class; (vi) to the Holders of the Class B-2 Certificates, the related Current Interest and any Interest Shortfall Carryforward Amount for such Class; and (vii) any remaining Interest Remittance Amount will be applied as described below under Section 6.04(d).
Sample 1
Distributions of Interest. On each Distribution Date, the Securities Administrator shall withdraw from the Certificate Account (to the extent funds are available therein) the Interest Remittance Amount and apply such amounts in the following order of priority and to the extent of such funds: first, concurrently, to the Senior Certificates entitled to distributions of interest, pro rata, the Accrued Certificate Interest thereon for such Distribution Date; second, concurrently, to the Senior Certificates entitled to distributions of interest, pro rata, the Interest Carryforward Amount thereon for such Distribution Date; third, to the Class M-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; fourth, to the Class M-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; fifth, to the Class M-3 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; sixth to the Class M-4 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; seventh, to the Class M-5 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; and eighth, the amount, if any, of the Interest Remittance Amount remaining after application with respect to the priorities set forth above will be applied as described below under Section 5.02(c) hereof.
Sample 1

Related to Distributions of Interest

  • Computations of Interest All computations of interest on Eurodollar Loans and other amounts (other than Base Rate Loans) hereunder shall be made on the actual number of days elapsed over a year of 360 days, and all computations of interest on Base Rate Loans hereunder shall be made on the actual number of days elapsed over a year of 365 or 366 days, as applicable.

  • Payments of Interest Interest on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law.

  • Distributions of Principal On each Payment Date, the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) pay any amounts allocated to principal under Section 8.2(c) in the following order of priority, in each case, applied pro rata according to the Note Balance of the Notes of that Class: (i) first, to the Noteholders of Class A-1 Notes in payment of principal until the Note Balance of the Class A-1 Notes has been reduced to zero; (ii) second, to the Noteholders of Class A-2a and Class A-2b Notes, pro rata based on the respective Note Balances, in payment of principal until the Note Balance of the Class A-2a and Class A-2b Notes has been reduced to zero; (iii) third, to the Noteholders of Class A-3 Notes, in payment of principal until the Note Balance of the Class A-3 Notes has been reduced to zero; (iv) fourth, to the Noteholders of Class A-4 Notes, in payment of principal until the Note Balance of the Class A-4 Notes has been reduced to zero; (v) fifth, to the Noteholders of Class B Notes in payment of principal until the Note Balance of the Class B Notes has been reduced to zero; (vi) sixth, to the Noteholders of Class C Notes in payment of principal until the Note Balance of the Class C Notes has been reduced to zero; and (vii) seventh, to the holder of the Residual Interest), any remaining amounts.

  • Distributions of Cash Flow Cash flow for each taxable year of the Company shall be distributed to the Member at such times and in such amounts as the Member shall determine.

  • Distributions of Net Cash Flow The Net Cash Flow of the Partnership for each calendar year, shall be distributed to the Partners from time to time, in the discretion of the General Partner, in accordance with the Percentage Interests of the Partners.

  • Distributions; Upstream Payments Declare or make any Distributions, except Upstream Payments and Permitted Distributions; or create or suffer to exist any encumbrance or restriction on the ability of a Subsidiary of Parent to make any Upstream Payment, except for restrictions under the Loan Documents, under Applicable Law or in effect on the Closing Date as shown on Schedule 9.1.15.

  • Distributions to Members Section 9.1

  • Distributions Distributions shall be made to the Member at the times and in the aggregate amounts determined by the Member. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make a distribution to the Member on account of its interest in the Company if such distribution would violate Section 18-607 of the Act or other applicable law.

  • Computations of Interest and Fees (a) Except for Base Rate Loans computed using the Prime Rate, on which interest shall be computed on the basis of a 365 or 366 day year as the case may be, all computations of interest and fees hereunder shall be made on the basis of the actual number of days elapsed over a year of 360 days. (b) It is the intent of the Lenders and each Borrower to conform to and contract in strict compliance with applicable usury law from time to time in effect. All agreements between the Lenders and the Borrowers are hereby limited by the provisions of this paragraph which shall override and control all such agreements, whether now existing or hereafter arising and whether written or oral. In no way, nor in any event or contingency (including but not limited to prepayment or acceleration of the maturity of any obligation), shall the interest taken, reserved, contracted for, charged, or received under this Credit Agreement, under the Notes or otherwise, exceed the maximum non-usurious amount permissible under applicable law. If, from any possible construction of any of the Credit Documents or any other document, interest would otherwise be payable in excess of the maximum non-usurious amount, any such construction shall be subject to the provisions of this paragraph and such documents shall be automatically reduced to the maximum non-usurious amount permitted under applicable law, without the necessity of execution of any amendment or new document. If any Lender shall ever receive anything of value which is characterized as interest on the Loans under applicable law and which would, apart from this provision, be in excess of the maximum lawful amount, an amount equal to the amount which would have been excessive interest shall, without penalty, be applied to the reduction of the principal amount owing on the Loans of the relevant Borrower and not to the payment of interest, or refunded to the relevant Borrower or the other payor thereof if and to the extent such amount which would have been excessive exceeds such unpaid principal amount of the Loans of the relevant Borrower. The right to demand payment of the Loans of any Borrower or any other indebtedness evidenced by any of the Credit Documents does not include the right to receive any interest which has not otherwise accrued on the date of such demand, and the Lenders do not intend to charge or receive any unearned interest in the event of such demand. All interest paid or agreed to be paid to the Lenders with respect to the Loans shall, to the extent permitted by applicable law, be amortized, prorated, allocated, and spread throughout the full stated term (including any renewal or extension) of the Loans so that the amount of interest on account of such indebtedness does not exceed the maximum non-usurious amount permitted by applicable law.

  • Distributions Other Than Cash Whenever the Depositary shall receive any distribution other than cash on the deposited Preferred Stock, the Depositary shall, subject to Sections 3.01 and 3.02, distribute to record holders of Receipts on the record date fixed pursuant to Section 4.04 such amounts of property received by it as are, as nearly as practicable, in proportion to the respective numbers of Depositary Shares evidenced by the Receipts held by such holders, in any manner that the Depositary and the Company may deem equitable and practicable for accomplishing such distribution. The Depositary shall not make any distribution of securities to the holders of Receipts unless the Company shall have provided to the Depositary an opinion of counsel stating that such securities have been registered under the Securities Act or do not need to be registered. If in the opinion of the Depositary such distribution cannot be made proportionately among such record holders, or if for any other reason (including any requirement that the Company or the Depositary withhold an amount on account of taxes) the Depositary deems, after consultation with the Company, such distribution not to be feasible, the Depositary may, with the approval of the Company, adopt such method as it deems equitable and practicable for the purpose of effecting such distribution, including the sale (at public or private sale) of the property thus received, or any part thereof, at such place or places and upon such terms as it may deem proper. The net proceeds of any such sale shall be, subject to Sections 3.01 and 3.02, distributed or made available for distribution, as the case may be, by the Depositary to record holders of Receipts as provided by Section 4.01 in the case of a distribution received in cash.

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