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: (i) if the Certificateholder is a Depository, to the Depository, which shall credit the relevant Participant's account at such Depository in accordance with the policies and procedure of the Depository; or (ii) if the Holder is not a Depository, at the Corporate Trust Office (except as otherwise specified pursuant to the applicable Supplement) or, at the option of the Trustee, by check mailed to the address of the Person entitled thereto as such address shall appear in the Certificate Register or, if provided pursuant to the applicable Supplement and in accordance with arrangements satisfactory to the Trustee, at the option of the registered Holder by wire transfer to an account designated by the registered Holder. Notwithstanding clause (i) of this paragraph (a), with respect to a Holder of Certificates not held in a Depository and having at least the Minimum Wire Denomination, such payment shall be made by wire transfer of immediately available funds to the account designated by such Holder in a written request received by the Trustee not later than 10 days prior to such Distribution Date; provided, however, that if a wire transfer cannot be made for any reason, payment shall be made by check. The Trustee shall not be required to send federal funds wires until any corresponding payments which were not same day funds when received by it have become same day funds. (b) Each Certificate delivered under this Trust Agreement upon transfer of or in exchange for or in lieu of any other Certificate shall carry the rights to interest accrued and undistributed, and to accrue, that were carried by such other Certificate. (c) All computations of interest due with respect to any Certificate of any Series or Class within such Series shall be made as specified in the Supplement applicable to that particular Series or Class. (d) With respect to any computations or calculations to be made under these Standard Terms, the applicable Supplement and the Certificates, except as otherwise provided, all percentages resulting from any calculation of accrued interest will be rounded, if necessary, to the nearest 1/100,000 of 1% (.0000001), with five one-millionths of a percentage point rounded upward. (e) The final distribution of principal and/or premium shall be made upon presentation and surrender of such Certificates at the Corporate Trust Office.
Appears in 63 contracts
Samples: Trust Agreement (Pplus Trust Series GSC-3), Trust Agreement (Merrill Lynch Depositor Inc), Series Supplement (PPlus Trust Series GSC-4)
Distributions on Certificates. (a) Distributions on any Registered 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 Registered Certificate (or one or more Predecessor Certificates) is registered at the close of business on the related Record Date notwithstanding the cancellation of such Registered Certificate upon any transfer or exchange subsequent to such related Record Date. The distribution of interest and principal on Registered Certificates shall be made:
(i) if the Certificateholder is a Depository, to the Depository, which shall credit the relevant Participantparticipant's account at such Depository in accordance with the policies and procedure of the Depository; , or
(ii) if the Holder Certificateholder is not a Depository, at the Corporate Trust Office (except as otherwise specified pursuant to the applicable SupplementSection 5.01) or, at the that option of the Trustee, by check mailed to the address of the Person entitled thereto as such address shall appear in the Certificate Register or, if provided pursuant to the applicable Supplement Section 5.01 and in accordance with arrangements satisfactory to the Trustee, at the option of the registered Registered Holder by wire transfer to an account designated by the registered Registered Holder. Notwithstanding clause (i) of this paragraph (a)the foregoing paragraph, with respect to a Holder Certificateholder of Certificates not held in a Depository and having at least the Minimum Wire Denomination, such payment shall be made by wire transfer of immediately available funds to the account designated by such Holder Certificateholder in a written request received by the Trustee not later than 10 days prior to such Distribution Date; provided, however, that if a wire transfer cannot be made for any reason, payment shall be made by check. The Trustee shall not be required to send federal funds wires until any corresponding payments which were not same day funds when received by it have become same day funds.
(b) Each Certificate delivered under this Trust Agreement upon transfer of or in exchange for or in lieu of any other Certificate shall carry the rights to interest accrued and undistributed, and to accrue, that were carried by such other Certificate.
(c) All computations of interest due with respect to any . In case a Coupon Certificate of any Series (or Class within such Series) is surrendered in exchange for a Registered Certificate of such Series shall be made as specified or Class after the close of business (at an office or agency in the Supplement applicable to that particular a Place of Distribution for such Series or Class.
) on any Record Date and before the opening of business (dat such office or agency) With respect on the next succeeding Distribution Date, such Coupon Certificate shall be surrendered without the Coupon relating to any computations or calculations to be made under these Standard Terms, the applicable Supplement such Distribution Date and the Certificates, except as otherwise provided, all percentages resulting from any calculation of accrued interest will not be roundedpayable on such Distribution Date in respect of the Registered Certificate issued in exchange for such Coupon Certificate, if necessary, but will be distributable only to the nearest 1/100,000 of 1% (.0000001), with five one-millionths of a percentage point rounded upward.
(e) The final distribution of principal and/or premium shall be made upon presentation and surrender Holder of such Certificates at Coupon when due in accordance with the Corporate provisions of this Trust OfficeAgreement.
Appears in 9 contracts
Samples: Callable Treasury Strip Trust Certificates Series Supplement (Lehman Abs Corp), Callable Zero Coupon Trust Certificates Series Supplement (Lehman Abs Corp), Series Supplement (Lehman Abs Corp)
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 (in Dollars) shall be made:
(i) if the Certificateholder is a Depository, to the Depository, which shall credit the relevant Participant's account at such Depository in accordance with the policies and procedure of the Depository; , or
(ii) if the Holder Certificateholder is not a Depository, at the Corporate Trust Office (except as otherwise specified pursuant to the applicable SupplementSection 5.01) or, at the option of the Trustee, by check mailed to the address of the Person entitled thereto as such address shall appear in the Certificate Register or, if provided pursuant to the applicable Supplement Section 5.01 and in accordance with arrangements satisfactory to the Trustee, at the option of the registered Holder by wire transfer to an account designated by the registered Holder. Notwithstanding clause (i) of this paragraph (a)the foregoing paragraph, with respect to a Holder Certificateholder of Certificates not held in a Depository and having at least the Minimum Wire Denomination, such payment shall be made by wire transfer of immediately available funds to the account designated by such Holder Certificateholder in a written request received by the Trustee not later than 10 days prior to such Distribution Date; provided, however, that if a wire transfer cannot be made for any reason, payment shall be made by check. The Trustee shall not be required to send federal funds wires until any corresponding payments which were not same day funds when received by it have become same day funds.
(b) Each Certificate delivered under this Trust Agreement upon transfer of or in exchange for or in lieu of any other Certificate shall carry the rights to interest accrued and undistributed, and to accrue, that were carried by such other Certificate.
(c) All computations of interest due with respect to any Certificate of any Series or Class within such Series shall be made as specified in the Series Supplement applicable to that particular Series or ClassClass of Certificates.
(d) With respect to any computations or calculations to be made under these Standard Terms, the applicable Series Supplement and the Certificates, except as otherwise provided, (i) all percentages resulting from any calculation of accrued interest will be rounded, if necessary, to the nearest 1/100,000 of 1% (.0000001), with five one-millionths of a percentage point rounded upward, and (ii) all currency amounts will be rounded to the nearest one-hundredth of a unit (with .005 of a unit being rounded upward).
(e) The Unless specified otherwise in a Series Supplement, the final distribution of principal and/or premium shall be made upon presentation and surrender of such Certificates at the Corporate Trust Office.
Appears in 4 contracts
Samples: Trust Agreement (Elmwood Funding LTD), Series Supplement (Elmwood Funding LTD), Series Supplement (Elmwood Funding LTD)
Distributions on Certificates. (a) Distributions on any Registered 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 Registered Certificate (or one or more Predecessor Certificates) is registered at the close of business on the related Record Date notwithstanding the cancellation of such Registered Certificate upon any transfer or exchange subsequent to such related Record Date. The distribution of interest and principal on Registered Certificates shall be made:
(i) if the Certificateholder is a Depository, to the Depository, which shall credit the relevant Participant's account at such Depository in accordance with the policies and procedure of the Depository; , or
(ii) if the Holder Certificateholder is not a Depository, at the Corporate Trust Office (except as otherwise specified pursuant to in the applicable related Series Supplement) or, at the option of the Trustee, by check mailed to the address of the Person entitled thereto as such address shall appear in the Certificate Register or, if provided pursuant to in the applicable related Series Supplement and in accordance with arrangements satisfactory to the Trustee, at the option of the registered Registered Holder by wire transfer to an account designated by the registered Registered Holder. Notwithstanding clause (i) of this paragraph (a)the foregoing paragraph, with respect to a Holder Certificateholder of Certificates not held in a Depository and having at least the Minimum Wire Denomination, such payment shall be made by wire transfer of immediately available funds to the account designated by such Holder Certificateholder in a written request received by the Trustee not later than 10 days prior to such Distribution Date; provided, however, that if a wire transfer cannot be made for any reason, payment shall be made by check. The Trustee shall not be required to send federal funds wires until any corresponding payments which were not same day funds when received by it have become same day funds.
(b) Each Certificate delivered under this Trust Agreement upon transfer of or in exchange for or in lieu of any other Certificate shall carry the rights to interest accrued and undistributed, and to accrue, that were carried by such other Certificate.
(c) All computations of interest due with respect to any Certificate of any Series or Class within such Series shall be made as specified in the Supplement applicable to that particular Series or Class.
(d) With respect to any computations or calculations to be made under these Standard Terms, the applicable Supplement and the Certificates, except as otherwise provided, all percentages resulting from any calculation of accrued interest will be rounded, if necessary, to the nearest 1/100,000 of 1% (.0000001), with five one-millionths of a percentage point rounded upward.
(e) The final distribution of principal and/or premium shall be made upon presentation and surrender of such Certificates at the Corporate Trust Office.
Appears in 3 contracts
Samples: Series Supplement (Bear Stearns Depositor Inc), Trust Agreement (Bear Stearns Depositor Inc), Trust Agreement (Bear Stearns Depositor Inc)
Distributions on Certificates. (a) Distributions on any Registered 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 Registered Certificate (or one or more Predecessor Certificates) is registered at the close of business on the related Record Date notwithstanding the cancellation of such Registered Certificate upon any transfer or exchange subsequent to such related Record Date. The distribution of interest and principal on Registered Certificates shall be made:
(i) if the Certificateholder is a Depository, to the Depository, which shall credit the relevant Participantparticipant's account at such Depository in accordance with the policies and procedure of the Depository; , or
(ii) if the Holder Certificateholder is not a Depository, at the Corporate Trust Office (except as otherwise specified pursuant to the applicable SupplementSection 5.01) or, at the that option of the Trustee, by check mailed to the address of the Person entitled thereto as such address shall appear in the Certificate Register or, if provided pursuant to the applicable Supplement Section 5.01 and in accordance with arrangements satisfactory to the Trustee, at the option of the registered Registered Holder by wire transfer to an account designated by the registered Registered Holder. Notwithstanding clause (i) of this paragraph (a)the foregoing paragraph, with respect to a Holder Certificateholder of Certificates not held in a Depository and having at least the Minimum Wire Denomination, such payment shall be made by wire transfer of immediately available funds to the account designated by such Holder Certificateholder in a written request received by the Trustee not later than 10 days prior to such Distribution Date; provided, however, that if a wire transfer cannot be made for any reason, payment shall be made by check. The Trustee shall not be required to send federal funds wires until any corresponding payments which were not same day funds when received by it have become same day funds.
(b) Each Certificate delivered under this Trust Agreement upon transfer of or in exchange for or in lieu of any other Certificate shall carry the rights to interest accrued and undistributed, and to accrue, that were carried by such other Certificate.
(c) All computations of interest due with respect to any Certificate of any Series or Class within such Series shall be made as specified in the Supplement applicable to that particular Series or Class.
(d) With respect to any computations or calculations to be made under these Standard Terms, the applicable Supplement and the Certificates, except as otherwise provided, all percentages resulting from any calculation of accrued interest will be rounded, if necessary, to the nearest 1/100,000 of 1% (.0000001), with five one-millionths of a percentage point rounded upward.
(e) The final distribution of principal and/or premium shall be made upon presentation and surrender of such Certificates at the Corporate Trust Office.
Appears in 2 contracts
Samples: Trust Agreement (Southpoint Structured Assets Inc), Trust Agreement (Southpoint Structured Assets Inc)
Distributions on Certificates. (a) Distributions on any Registered 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 Registered Certificate (or one or more Predecessor Certificates) is registered at the close of business on the related Record Date notwithstanding the cancellation of such Registered Certificate upon any transfer or exchange subsequent to such related Record Date. The distribution of interest and principal on Registered Certificates shall be made:
(i) if the Certificateholder is a Depository, to the Depository, which shall credit the relevant Participant's account at such Depository in accordance with the policies and procedure procedures of the Depository; , or
(ii) if the Holder Certificateholder is not a Depository, at the Corporate Trust Office (except as otherwise specified pursuant to in the applicable related Series Supplement) or, at the option of the Trustee, by check mailed to the address of the Person entitled thereto as such address shall appear in the Certificate Register or, if provided pursuant to in the applicable related Series Supplement and in accordance with arrangements satisfactory to the Trustee, at the option of the registered Registered Holder by wire transfer to an account designated by the registered Registered Holder. Notwithstanding clause (i) of this paragraph (a)the preceding sentence, with respect to a Holder Certificateholder of Certificates not held in a Depository and having at least the Minimum Wire Denomination, such payment shall be made by wire transfer of immediately available funds to the account designated by such Holder Certificateholder in a written request received by the Trustee not later than 10 ten (10) days prior to such Distribution Date; provided, however, that if a wire transfer cannot be made for any reason, payment shall be made by check. The Trustee shall not be required to send federal funds wires until any corresponding payments which were not same day funds when received by it have become same day funds.
(b) Each Certificate delivered under this Trust Agreement upon transfer of or in exchange for or in lieu of any other Certificate shall carry the rights to interest accrued and undistributed, and to accrue, that were carried by such other Certificate.
(c) All computations of interest due with respect to any . In case a Coupon Certificate of any Series (or Class within such Series) is surrendered in exchange for a Registered Certificate of such Series shall be made as specified or Class after the close of business (at an office or agency in the Supplement applicable to that particular a Place of Distribution for such Series or Class.
) on any Record Date and before the opening of business (dat such office or agency) With respect on the next succeeding Distribution Date, such Coupon Certificate shall be surrendered without the Coupon relating to any computations or calculations to be made under these Standard Terms, the applicable Supplement such Distribution Date and the Certificates, except as otherwise provided, all percentages resulting from any calculation of accrued interest will not be roundedpayable on the related Distribution Date in respect of the Registered Certificate issued in exchange for such Coupon Certificate, if necessary, but will be distributable only to the nearest 1/100,000 of 1% (.0000001), with five one-millionths of a percentage point rounded upward.
(e) The final distribution of principal and/or premium shall be made upon presentation and surrender Holder of such Certificates at Coupon when due in accordance with the Corporate provisions of this Trust OfficeAgreement.
Appears in 1 contract
Distributions on Certificates. (a) Distributions on any Certificate that are payable and are punctually paid or duly provided for on any On each Distribution Date for a Series, Xxxxxx Mac shall withdraw 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, Xxxxxx Mac shall, pursuant 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, Xxxxxx Mac shall furnish 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, Xxxxxx Mac shall, in the event the amount on deposit in the Certificate Account shall be distributed less than the Certificate Distribution Amount for such following Distribution Date, provide to the Person in whose name such Trustee an Officer's 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:
stating (i) if the Certificateholder is a Depositoryamount of such insufficiency, to the Depository, which shall credit the relevant Participant's account at such Depository in accordance with the policies and procedure of the Depository; or
(ii) if whether Xxxxxx Mac is certain that funds will be available to it on such Distribution Date in an amount sufficient to cure such insufficiency without the Holder necessity of borrowing from the United States Treasury and (iii) in the event that the response to (ii) is not in the negative, attaching to such Officer's Certificate a Depository, at copy of the Corporate Trust Office (except as otherwise specified pursuant certification furnished to the applicable Supplement) or, at the option Secretary of the Trustee, by check mailed Treasury requesting that funds in the necessary amount be made available to the address Xxxxxx Mac on or before such Distribution Date for purposes of satisfying its guarantee obligations in respect of the Person entitled thereto as such address shall appear in the Certificate Register or, if provided pursuant to the applicable Supplement and in accordance with arrangements satisfactory to the Trustee, at the option related Series of the registered Holder by wire transfer to an account designated by the registered Holder. Notwithstanding clause (i) of this paragraph (a), with respect to a Holder of Certificates not held in a Depository and having at least the Minimum Wire Denomination, such payment shall be made by wire transfer of immediately available funds to the account designated by such Holder in a written request received by the Trustee not later than 10 days prior to such Distribution Date; provided, however, that if a wire transfer cannot be made for any reason, payment shall be made by check. The Trustee shall not be required to send federal funds wires until any corresponding payments which were not same day funds when received by it have become same day fundsCertificates.
(b) Each Certificate delivered under this Trust Agreement upon transfer of or in exchange for or in lieu of any other Certificate shall carry the rights to interest accrued and undistributed, and to accrue, that were carried by such other Certificate.
(c) All computations of interest due with respect to any Certificate of any Series or Class within such Series shall be made as specified in the Supplement applicable to that particular Series or Class.
(d) With respect to any computations or calculations to be made under these Standard Terms, the applicable Supplement and the Certificates, except as otherwise provided, all percentages resulting from any calculation of accrued interest will be rounded, if necessary, to the nearest 1/100,000 of 1% (.0000001), with five one-millionths of a percentage point rounded upward.
(e) The final distribution of principal and/or premium shall be made upon presentation and surrender of such Certificates at the Corporate Trust Office.
Appears in 1 contract
Samples: Trust Agreement (Farmer Mac Mortgage Securities Corp)
Distributions on Certificates. (a) Distributions on any ----------------------------- Registered 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 Registered Certificate (or one or more Predecessor Certificates) is registered at the close of business on the related Record Date notwithstanding the cancellation of such Registered Certificate upon any transfer or exchange subsequent to such related Record Date. The distribution of interest and principal on Registered Certificates shall be made:
(i) if the Certificateholder is a Depository, to the Depository, which shall credit the relevant Participant's account at such Depository in accordance with the policies and procedure procedures of the Depository; , or
(ii) if the Holder Certificateholder is not a Depository, at the Corporate Trust Office (except as otherwise specified pursuant to in the applicable related Series Supplement) or, at the option of the Trustee, by check mailed to the address of the Person entitled thereto as such address shall appear in the Certificate Register or, if provided pursuant to in the applicable related Series Supplement and in accordance with arrangements satisfactory to the Trustee, at the option of the registered Registered Holder by wire transfer to an account designated by the registered Registered Holder. Notwithstanding clause (i) of this paragraph (a)the foregoing paragraph, with respect to a Holder Certificateholder of Certificates not held in a Depository and having at least the Minimum Wire Denomination, such payment shall be made by wire transfer of immediately available funds to the account designated by such Holder Certificateholder in a written request received by the Trustee not later than 10 days prior to such Distribution Date; provided, however, that if a -------- ------- wire transfer cannot be made for any reason, payment shall be made by check. The Trustee shall not be required to send federal funds wires until any corresponding payments which were not same day funds when received by it have become same day funds.
(b) Each Subject to the foregoing provisions of this Section 4.02, each Certificate delivered under this Trust Agreement upon transfer of or in exchange for or in lieu of any other Certificate shall carry the rights to interest accrued and undistributed, and to accrue, that were carried by such other Certificate.
(c) All computations of interest due with respect to any Certificate of any Series or Class within such Series shall be made as specified in the Series Supplement applicable to that particular Series or ClassClass of Certificates.
(d) With respect to any computations or calculations to be made under these Standard Terms, the applicable Series Supplement and the Certificates, except as otherwise provided, (i) all percentages resulting from any calculation of accrued interest will be rounded, if necessary, to the nearest 1/100,000 of 1% (.0000001), with five one-millionths of a percentage point rounded upward, and (ii) all currency amounts will be rounded to the nearest one-hundredth of a unit (with .005 of a unit being rounded upward).
(e) The Unless specified otherwise in a Series Supplement, the final distribution of principal and/or premium shall be made upon presentation and surrender of such Certificates at the Corporate Trust Office.
Appears in 1 contract
Samples: Trust Agreement (Db Depositor Inc)
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:
(i) if the Certificateholder is a Depository, to the Depository, which shall credit the relevant Participant's account at such Depository in accordance with the policies and procedure of the Depository; , or
(ii) if the Holder is not a Depository, at the Corporate Trust Office (except as otherwise specified pursuant to the applicable Supplement) or, at the option of the Trustee, by check mailed to the address of the Person entitled thereto as such address shall appear in the Certificate Register or, if provided pursuant to the applicable Supplement and in accordance with arrangements satisfactory to the Trustee, at the option of the registered Holder by wire transfer to an account designated by the registered Holder. Notwithstanding clause (i) of this paragraph (a)the foregoing paragraph, with respect to a Holder of Certificates or a Retained Interest not held in a Depository and having at least the Minimum Wire Denomination, such payment shall be made by wire transfer of immediately available funds to the account designated by such Holder in a written request received by the Trustee not later than 10 days prior to such Distribution Date; provided, however, that if a wire transfer cannot be made for any reason, payment shall be made by check. The Trustee shall not be required to send federal funds wires until any corresponding payments which were not same day funds when received by it have become same day funds.
(b) Each Certificate or Retained Interest delivered under this Trust Agreement upon transfer of or in exchange for or in lieu of any other Certificate or Retained Interest shall carry the rights to interest accrued and undistributed, and to accrue, that were carried by such other CertificateCertificate or Retained Interest.
(c) All computations of interest due with respect to any Certificate of any Series or Class within such Series shall be made as specified in the Supplement applicable to that particular Series or ClassClass of Certificates.
(d) With respect to any computations or calculations to be made under these Standard Terms, the applicable Supplement Supplement, the Certificates and the CertificatesRetained Interest, except as otherwise provided, (i) all percentages resulting from any calculation of accrued interest will be rounded, if necessary, to the nearest 1/100,000 of 1% (.0000001), with five one-millionths of a percentage point rounded upward, and (ii) all currency amounts will be rounded to the nearest one-hundredth of a unit (with .005 of a unit being rounded upward).
(e) The final distribution of principal and/or premium shall be made upon presentation and surrender of such Certificates or Retained Interest at the Corporate Trust Office.
Appears in 1 contract
Distributions on Certificates. (a) Distributions on any Registered 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 Registered Certificate (or one or more Predecessor Certificates) is registered at the close of business on the related Record Date notwithstanding the cancellation of such Registered Certificate upon any transfer or exchange subsequent to such related Record Date. The distribution of interest and principal on Registered Certificates shall be made:
(i) if the Certificateholder is a Depository, to the Depository, which shall credit the relevant Participant's account at such Depository in accordance with the policies and procedure of the Depository; , or
(ii) if the Holder Certificateholder is not a Depository, at the Corporate Trust Office (except as otherwise specified pursuant to in the applicable related Series Supplement) or, at the option of the Trustee, by check mailed to the address of the Person entitled thereto as such address shall appear in the Certificate Register or, if provided pursuant to in the applicable related Series Supplement and in accordance with arrangements satisfactory to the Trustee, at the option of the registered Registered Holder by wire transfer to an account designated by the registered Registered Holder. Notwithstanding clause (i) of this paragraph (a)the foregoing paragraph, with respect to a Holder Certificateholder of Certificates not held in a Depository and having at least the Minimum Wire Denomination, such payment shall be made by wire transfer of immediately available funds to the account designated by such Holder Certificateholder in a written request received by the Trustee not later than 10 days prior to such Distribution Date; provided, however, that if a wire transfer cannot be made for any reason, payment shall be made by check. The Trustee shall not be required to send federal funds wires until any corresponding payments which were not same day funds when received by it have become same day funds.
(b) Each Certificate delivered under this Trust Agreement upon transfer of or in exchange for or in lieu of any other Certificate shall carry the rights to interest accrued and undistributed, and to accrue, that were carried by such other Certificate.
(c) All computations of interest due with respect to any . In case a Coupon Certificate of any Series (or Class within such Series) is surrendered in exchange for a Registered Certificate of such Series shall be made as specified or Class after the close of business (at an office or agency in the Supplement applicable to that particular a Place of Distribution for such Series or Class.
) on any Record Date and before the opening of business (dat such office or agency) With respect on the next succeeding Distribution Date, such Coupon Certificate shall be surrendered without the Coupon relating to any computations or calculations to be made under these Standard Terms, the applicable Supplement such Distribution Date and the Certificates, except as otherwise provided, all percentages resulting from any calculation of accrued interest will not be roundedpayable on such Distribution Date in respect of the Registered Certificate issued in exchange for such Coupon Certificate, if necessary, but will be distributable only to the nearest 1/100,000 of 1% (.0000001), with five one-millionths of a percentage point rounded upward.
(e) The final distribution of principal and/or premium shall be made upon presentation and surrender Holder of such Certificates at Coupon when due in accordance with the Corporate provisions of this Trust OfficeAgreement.
Appears in 1 contract
Samples: Trust Agreement (Select Asset Inc)
Distributions on Certificates. (a) Distributions on any Registered 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 Registered Certificate (or one or more Predecessor Certificates) is registered at the close of business on the related Record Date notwithstanding the cancellation of such Registered Certificate upon any transfer or exchange subsequent to such related Record Date. The distribution of interest and principal on Registered Certificates shall be made:
(i) if the Certificateholder is a Depository, to the Depository, which shall credit the relevant Participant's ’s account at such Depository in accordance with the policies and procedure of the Depository; , or
(ii) if the Holder Certificateholder is not a Depository, at the Corporate Trust Office (except as otherwise specified pursuant to in the applicable related Series Supplement) or, at the option of the Trustee, by check mailed to the address of the Person entitled thereto as such address shall appear in the Certificate Register or, if provided pursuant to in the applicable related Series Supplement and in accordance with arrangements satisfactory to the Trustee, at the option of the registered Registered Holder by wire transfer to an account designated by the registered Registered Holder. Notwithstanding clause (i) of this paragraph (a)the foregoing paragraph, with respect to a Holder Certificateholder of Certificates not held in a Depository and having at least the Minimum Wire Denomination, such payment shall be made by wire transfer of immediately available funds to the account designated by such Holder Certificateholder in a written request received by the Trustee not later than 10 days prior to such Distribution Date; provided, however, that if a wire transfer cannot be made for any reason, payment shall be made by check. The Trustee shall not be required to send federal funds wires until any corresponding payments which were not same day funds when received by it have become same day funds.
(b) Each Subject to the foregoing provisions of this Section 4.02, each Certificate delivered under this Trust Agreement upon transfer of or in exchange for or in lieu of any other Certificate shall carry the rights to interest accrued and undistributed, and to accrue, that were carried by such other Certificate.
(c) All computations of interest due with respect to any Certificate of any Series or Class within such Series shall be made as specified in the Series Supplement applicable to that particular Series or ClassClass of Certificates.
(d) With respect to any computations or calculations to be made under these Standard Terms, the applicable Series Supplement and the Certificates, except as otherwise provided, all percentages resulting from any calculation of accrued interest will be rounded, if necessary, rounded to the nearest 1/100,000 of 1% (.0000001), with five one-millionths of a percentage point rounded upward.
(e) The Unless specified otherwise in a Series Supplement, the final distribution of principal and/or or premium shall be made upon presentation and surrender of such Certificates at the Corporate Trust Office.
Appears in 1 contract
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 (in Dollars) shall be made:
(i) if the Certificateholder is a Depository, to the Depository, which shall credit the relevant Participant's account at such Depository in accordance with the policies and procedure of the Depository; , or
(ii) if the Holder Certificateholder is not a Depository, at the Corporate Trust Office (except as otherwise specified pursuant to the applicable SupplementSection 5.01) or, at the option of the Trustee, by check mailed to the address of the Person entitled thereto as such address shall appear in the Certificate Register or, if provided pursuant to the applicable Supplement Section 5.01 and in accordance with arrangements satisfactory to the Trustee, at the option of the registered Holder by wire transfer to an account designated by the registered Holder. Notwithstanding clause (i) of this paragraph (a)the foregoing paragraph, with respect to a Holder Certificateholder of Certificates not held in a Depository and having at least the Minimum Wire Denomination, such payment shall be made by wire transfer of immediately available funds to the account designated by such Holder Certificateholder in a written request received by the Trustee not later than 10 days prior to such Distribution Date; provided, however, that if a wire transfer cannot be made for any reason, payment shall be made by check. The Trustee shall not be required to send federal funds wires until any corresponding payments which were not same day funds when received by it have become same day funds.
(b) Each Certificate delivered under this Trust Agreement upon transfer of or in exchange for or in lieu of any other Certificate shall carry the rights to interest accrued and undistributed, and to accrue, that were carried by such other Certificate.
(c) All computations of interest due with respect to any Certificate of any Series or Class within such Series shall be made as specified in the Supplement applicable to that particular Series or Class.
(d) With respect to any computations or calculations to be made under these Standard Terms, the applicable Supplement and the Certificates, except as otherwise provided, all percentages resulting from any calculation of accrued interest will be rounded, if necessary, to the nearest 1/100,000 of 1% (.0000001), with five one-millionths of a percentage point rounded upward.
(e) The final distribution of principal and/or premium shall be made upon presentation and surrender of such Certificates at the Corporate Trust Office.
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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:
(i) if the Certificateholder is a Depository, to the Depository, which shall credit the relevant Participant's account at such Depository in accordance with the policies and procedure of the Depository; , or
(ii) if the Holder is not a Depository, at the Corporate Trust Office (except as otherwise specified pursuant to the applicable Supplement) or, at the option of the Trustee, by check mailed to the address of the Person entitled thereto as such address shall appear in the Certificate Register or, if provided pursuant to the applicable Supplement and in accordance with arrangements satisfactory to the Trustee, at the option of the registered Holder by wire transfer to an account designated by the registered Holder. Notwithstanding clause (i) of this paragraph (a)the foregoing paragraph, with respect to a Holder of Certificates not held in a Depository and having at least the Minimum Wire Denomination, such payment shall be made by wire transfer of immediately available funds to the account designated by such Holder in a written request received by the Trustee not later than 10 days prior to such Distribution Date; provided, however, that if a wire transfer cannot be made for any reason, payment shall be made by check. The Trustee shall not be required to send federal funds wires until any corresponding payments which were not same day funds when received by it have become same day funds.
(b) Each Certificate delivered under this Trust Agreement upon transfer of or in exchange for or in lieu of any other Certificate shall carry the rights to interest accrued and undistributed, and to accrue, that were carried by such other Certificate.
(c) All computations of interest due with respect to any Certificate of any Series or Class within such Series shall be made as specified in the Supplement applicable to that particular Series or ClassClass of Certificates.
(d) With respect to any computations or calculations to be made under these Standard Terms, the applicable Supplement and the Certificates, except as otherwise provided, all percentages resulting from any calculation of accrued interest will be rounded, if necessary, to the nearest 1/100,000 of 1% (.0000001), with five one-millionths of a percentage point rounded upward.
(e) The final distribution of principal and/or premium shall be made upon presentation and surrender of such Certificates at the Corporate Trust Office.
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