Distributions on Certificates. (a) Distributions on any Certificate that are payable and are punctually paid or duly provided for on any Distribution Date shall be distributed to the Person in whose name such Certificate (or one or more Predecessor Certificates) is registered at the close of business on the related Record Date notwithstanding the cancellation of such Certificate upon any transfer or exchange subsequent to such related Record Date. The distribution of interest and principal on Certificates shall be made:
Distributions on Certificates. (a) On or before each Determination Date for each Series (or as soon thereafter as is reasonably practicable), the Trustee will calculate, or cause to be calculated, the Class Distribution Amount for each Class in such Series for the current calendar month. On or before each Distribution Date for each Series, the Trustee will withdraw and deliver to the applicable Paying Agent, or cause to be withdrawn and so delivered, funds from the related Certificate Account in the amount of the Class Distribution Amount for each Class in such Series (or if sufficient funds for a Trust are not then available in the related Certificate Account, as much as is available).
Distributions on Certificates. (a) On or before each Distribution Date for each Issue, the Trustee will calculate, or cause to be calculated, the related Distribution Amount for such Issue; provided that, in calculating or causing to be calculated the amount to be distributed on any Distribution Date, the Trustee will make any adjustments as are necessary to reconcile prior payments made in error. On or before the Distribution Date, the Trustee will notify the Paying Agent, or cause the Paying Agent to be notified, of the Distribution Amount for each Issue for that Distribution Date.
Distributions on Certificates. On each Distribution Date for a Series, Farmer Mac shxxx xithdraw from the Certificate Account for such Series, to the extent of funds available therefor, the Certificate Distribution Amount for such Distribution Date previously calculated by it pursuant to Section 5.02. In the event that the Certificate Distribution Amount may not be paid from amounts in the Certificate Account, Farmer Mac shaxx, xxrsuant to its guarantee obligations set forth in Section 5.05 hereof, provide from its own funds the amount of any insufficiency and shall distribute in Federal Funds to each Certificateholder of record on the preceding Record Date the amount distributable on such Certificateholder's Certificate(s) as determined pursuant to Section 3.01. Concurrently therewith, in the event the Certificate Account shall not be maintained with the Trustee, Farmer Mac shxxx xurnish to the Trustee an Officer's Certificate (which may also relate to other Series comprised of Classes having a similar Distribution Date) to the effect that distribution of the Certificate Distribution Amount for such Series and Distribution Date has been made by it. As promptly as practicable following each Certificate Account Deposit Date in the month of a Distribution Date, Farmer Mac shaxx, xx the event the amount on deposit in the Certificate Account shall be less than the Certificate Distribution Amount for such Distribution Date, provide to the Trustee an Officer's Certificate stating (i) the amount of such insufficiency, (ii) whether Farmer Mac is xxxxxxn that funds will be available to it on such Distribution Date in an amount sufficient to cure such insufficiency without the necessity of borrowing from the United States Treasury and (iii) in the event that the response to (ii) is in the negative, attaching to such Officer's Certificate a copy of the certification furnished to the Secretary of the Treasury requesting that funds in the necessary amount be made available to Farmer Mac on xx xxxore such Distribution Date for purposes of satisfying its guarantee obligations in respect of the related Series of Certificates.
Distributions on Certificates. The Holders of the Certificates will be entitled to distributions on each Payment Date, as provided in the Sale and Servicing Agreement and the Indenture.
Distributions on Certificates. (a) On or before each Distribution Date for each Series, the Trustee will calculate, or cause to be calculated, the related Class Distribution Amount for each Class of Certificates with respect to a Series; provided that, in calculating or causing to be calculated the amount to be distributed on any Distribution Date, the Trustee will make any adjustments as are necessary to reconcile prior payments made in error. On or before the Distribution Date, the Trustee will notify the Paying Agent, or cause the Paying Agent to be notified, of the Class Distribution Amount for each Class of Certificates with respect to a Series for that Distribution Date.
Distributions on Certificates. (a) On or before each Distribution Date for each Mega Issue and SMBS Series, the Trustee will calculate, or cause to be calculated, the related Mega Distribution Amount for such Mega Issue and the related SMBS Class Distribution Amount for each Class of SMBS Certificates with respect to a SMBS Series; provided that, in calculating or causing to be calculated the amount to be distributed on any Distribution Date, the Trustee will make any adjustments as are necessary to reconcile prior payments made in error. On or before the Distribution Date, the Trustee will notify the Paying Agent, or cause the Paying Agent to be notified, of the Mega Distribution Amount for each Mega Issue and the SMBS Class Distribution Amount for each Class of SMBS Certificates with respect to a SMBS Series for that Distribution Date.
Distributions on Certificates. (a) On or before each Distribution Date for each Mega Issue and SMBS Series, the Trustee will calculate, or cause to be calculated, the related Mega Distribution Amount for such Mega Issue and the related SMBS Class Distribution Amount for each Class of SMBS Certificates with respect to a SMBS Series. On each Distribution Date, the Trustee will withdraw and deliver to the applicable Paying Agent, or cause to be withdrawn and so delivered, funds from the related Certificate Account in the amount of the Mega Distribution Amount for each Mega Issue and the SMBS Class Distribution Amount for each Class of SMBS Certificates with respect to a SMBS Series (or if sufficient funds for a Trust are not then available in the related Certificate Account, as much as is available).
Distributions on Certificates. The aggregate amount of principal of and interest distributable on the Certificates on any Distribution Date shall be equal to the Upper-Tier Available Distribution Amount in the Upper-Tier Trust Account on the related Distribution Date, plus any Guaranty Payment made pursuant to Section 3.4, which shall be distributed in the priorities and in the amounts as among Classes as provided hereinafter in this Section 3.2. All distributions of principal for any such Distribution Date which are made with respect to a particular Class of Certificates shall be made pro rata among all Certificates of such Class in proportion to their respective Certificate Balances, with no preference or priority of any kind. All computations of interest accrued on any Certificate shall be made as if each year consisted of twelve (12) months of thirty (30) days each.
Distributions on Certificates. As provided in Section 6.03, on each Distribution Date, the Calculation and Paying Agent shall withdraw from each applicable Certificate Account to the extent of funds available therefor, the Certificate Distribution Amount applicable to each Series for such Distribution Date previously calculated by it pursuant to Section 6.02. Any installment of interest or principal that is payable on any Certificate and that is on deposit in the applicable Certificate Account on the applicable Distribution Date, shall be paid to the Certificateholder of record thereof on the immediately preceding Record Date by wire transfer to an account specified in writing by such Certificateholder (or, if any Certificateholder shall not have specified such account in writing at least 3 Business Days prior to any Payment Date, by check or money order mailed to such Certificateholder at such Certificateholder’s address appearing in the Note Register); provided that the Calculation and Paying Agent shall not be required to pay to any such Certificateholder any amounts required to be withheld from a payment to such Certificateholder by any applicable tax law.
