Common use of Distributions on Trust Fund Certificates; Xxxxxx Mae Guaranty Clause in Contracts

Distributions on Trust Fund Certificates; Xxxxxx Mae Guaranty. On each Distribution Date, Xxxxxx Xxx shall withdraw from the Trust Account the Lower Tier Distribution Amount and shall make the distributions to the Holders of each Class of Trust Fund Certificates in the respective amounts and in the applicable manner determined pursuant to Section 3.02 hereof. In the event that the amount on deposit in the Trust Account on any Distribution Date shall be less than the applicable Lower Tier Distribution Amount, Xxxxxx Mae shall provide from its own funds the amount of any insufficiency so that the full Lower Tier Distribution Amount is distributed on such Distribution Date. In addition, in the event that

Appears in 4 contracts

Samples: Trust Agreement, Trust Agreement, Trust Agreement

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