Distributions Upon a Determination of Sufficiency Sample Clauses

Distributions Upon a Determination of Sufficiency. (a) In the event that the [Trustee] [Securities Administrator] shall have made a positive determination pursuant to Section 8.01 (a “Determination of Sufficiency”), the [Trustee] [Securities Administrator] shall, beginning on the first Deficiency Distribution Date which occurs more than ten days subsequent to the date upon which the [Trustee] [Securities Administrator] made such Determination of Sufficiency, withdraw from the Collection Account on each Deficiency Distribution Date all amounts at the time held therein (after any withdrawal for Expenses as provided in the following paragraph) and shall distribute such amounts to Holders of Regular Certificates as of the related Special Record Date in accordance with the priorities and allocations as to principal and interest set forth below in this Section 8.02. In the event that a Class of Accrual Certificates shall not at the time be entitled to distributions of interest, interest accrued but not required to be distributed on such Class shall be added to the Current Principal Amount of each Certificate of such Class in the same manner as prior to the occurrence of the Deficiency Event.
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Distributions Upon a Determination of Sufficiency. (a) In the event that the Trustee shall have made a positive determination pursuant to Section 7.01 (a “Determination of Sufficiency”), the Trustee shall, beginning on the first Deficiency Distribution Date which occurs more than ten days subsequent to the date upon which the Trustee made such Determination of Sufficiency, withdraw from the Trust Account on each Deficiency Distribution Date all amounts at the time held therein (after any withdrawal for Expenses as provided in the following paragraph) and shall distribute such amounts to Holders of Regular Certificates as of the related Special Record Date in accordance with the priorities and allocations as to principal and interest set forth below in this Section 7.02.
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Distributions Upon a Determination of Sufficiency. In the event that the Trustee shall have made a positive determination pursuant to Section 6.01 (a "Determination of Sufficiency"), the Trustee shall, beginning on the first Deficiency Distribution Date which occurs more than ten days subsequent to the date upon which the Trustee made such Determination of Sufficiency, withdraw from the Certificate Account on each Deficiency Distribution Date all amounts at the time held therein (after any withdrawal as provided in the following paragraph) and shall distribute such amounts to Holders of Multi-Class Certificates as of the related Special Record Date in accordance with the priorities and allocations as to principal and interest set forth below in this Section 6.02. In the event that the Accretion Termination Date has not occurred with respect to a Class of Compound Interest Certificates, interest accrued but not required to be distributed on such Class shall be added to the Compound Value of each Certificate of such Class in the same manner as prior to the occurrence of the Deficiency Event. Each such monthly distribution on a Deficiency Distribution Date shall be made without regard to any calculations as to the Multi-Class Distribution Amount and, so long as such monthly distributions continue pursuant to this Section 6.02, no withdrawals from the Certificate Account shall be made for the purpose of distributions to Holders of Residual Certificates until either such Deficiency Event is declared to be not continuing pursuant to the following paragraph or until the Outstanding Stated Principal Balance of all Multi-Class Certificates has been reduced to zero. All amounts available for distribution from the Certificate Account on each Deficiency Distribution Date pursuant to this Section 6.02 shall be applied, first, to the payment of all interest accrued but undistributed on the Multi-Class Certificates to [the Designated Interest Accrual Date with respect to] such Deficiency Distribution Date (other than accrued interest on any Class of Compound Interest Certificates for which the Accretion Termination Date has not yet occurred) and, second, to the reduction of the Outstanding Stated Principal Balance of the Outstanding Multi-Class Certificates in the order of priority set forth in Article I. In the event that, subsequent to the making of any distribution on a Deficiency Distribution Date that would otherwise be a Distribution Date, the Trustee determines (and a firm of Independent Accountants of nationally ...
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Related to Distributions Upon a Determination of Sufficiency

  • Distributions Upon Liquidation Proceeds from a Terminating Capital Transaction and any other cash received or reductions in reserves made after commencement of the liquidation of the Partnership shall be distributed to the Partners in accordance with Section 13.2.

  • Distributions Upon Taxation of Amounts Deferred If, pursuant to Code Section 409A, the Federal Insurance Contributions Act or other state, local or foreign tax, the Executive becomes subject to tax on the amounts deferred hereunder, then the Bank may make a limited distribution to the Executive in a manner that conforms to the requirements of Code section 409A. Any such distribution will decrease the Executive’s benefits distributable under this Agreement.

  • Distributions Upon Dissolution Upon the dissolution of the Company, the properties of the Company to be sold shall be liquidated in orderly fashion and the proceeds thereof, and the property to be distributed in kind, shall be distributed as follows:

  • Special Allocations Upon Liquidation Notwithstanding any provision in this Article 6 to the contrary, in the event that the Partnership disposes of all or substantially all of its assets in a transaction that will lead to a liquidation of the Partnership pursuant to Article 13 hereof, then any Net Income or Net Loss realized in connection with such transaction and thereafter (and, if necessary, constituent items of income, gain, loss and deduction) shall be specially allocated for such Partnership Year (and to the extent permitted by Section 761(c) of the Code, for the immediately preceding Partnership Year) among the Holders as required so as to cause liquidating distributions pursuant to Section 13.2.A(4) hereof to be made in the same amounts and proportions as would have resulted had such distributions instead been made pursuant to Article 5 hereof.

  • PAYMENT OF CERTAIN TAXES UPON CONVERSION Except as provided in the next sentence, the Company will pay any and all taxes that may be payable in respect of the issue or delivery of shares of its Common Stock on conversion of Securities pursuant hereto. The Company shall not, however, be required to pay any tax which may be payable in respect of any transfer involved in the issue and delivery of shares of its Common Stock in a name other than that of the Holder of the Security or Securities to be converted, and no such issue or delivery shall be made unless and until the person requesting such issue has paid to the Company the amount of any such tax, or has established, to the satisfaction of the Company, that such tax has been paid.

  • Distribution of Stock Subject to Section 8, the Company shall cause the Participant to be the record owner of any shares of Stock to which the Participant becomes entitled to receive under this Agreement in accordance with the payment terms described in Section 3.

  • Repurchase at Option of Holders Upon a Fundamental Change (a) If a Fundamental Change occurs at any time prior to the Maturity Date, each Holder shall have the right, at such Holder’s option, to require the Company to repurchase for cash all of such Holder’s Notes, or any portion of the principal amount thereof properly surrendered and not validly withdrawn pursuant to Section 15.03 that is equal to $1,000 or a multiple of $1,000, on the date (the “Fundamental Change Repurchase Date”) specified by the Company that is not less than 20 or more than 35 Business Days following the date of the Fundamental Change Company Notice at a repurchase price equal to 100% of the principal amount thereof, plus accrued and unpaid interest thereon to, but excluding, the Fundamental Change Repurchase Date (the “Fundamental Change Repurchase Price”), unless the Fundamental Change Repurchase Date falls after a Regular Record Date but on or prior to the Interest Payment Date to which such Regular Record Date relates, in which case the Company shall instead pay the full amount of accrued and unpaid interest to the Holder of record as of such Regular Record Date, and the Fundamental Change Repurchase Price shall be equal to 100% of the principal amount of Notes to be repurchased pursuant to this Article 15. Any Notes so repurchased by the Company shall be paid for in cash.

  • PAYMENTS UPON A CHANGE IN CONTROL (a) The term “

  • Right of Holders to Require the Company to Repurchase Notes Upon a Fundamental Change Subject to the other terms of this Section 4.02, if a Fundamental Change occurs, then each Holder will have the right (the “Fundamental Change Repurchase Right”) to require the Company to repurchase such Holder’s Notes (or any portion thereof in an Authorized Denomination) on the Fundamental Change Repurchase Date for such Fundamental Change for a cash purchase price equal to the Fundamental Change Repurchase Price.

  • Redemption Upon Changes in Withholding Taxes The Offered Securities may be redeemed, as a whole but not in part, at the option of the Company, upon not less than 30 nor more than 90 days notice (which notice shall be irrevocable), at a redemption price equal to 100% of the principal amount thereof, together with accrued interest, if any, to the redemption date and Additional Amounts (as defined in Section 3.2), if any, if as a result of any amendment to, or change in, the laws or regulations of Switzerland or the United States, as applicable, or any political subdivision thereof or therein having the power to tax (a “Taxing Jurisdiction”), or any change in the application or official interpretation of such laws, including any action taken by a taxing authority or a holding by a court of competent jurisdiction (regardless of whether such action or such holding is with respect to the Company or Guarantor), which amendment or change is announced or becomes effective after the date the Offered Securities are issued, the Guarantor or the Company has become, or there is a material probability that it will become, obligated to pay Additional Amounts on the next date on which any amount would be payable with respect to the Securities of such series, and such obligation cannot be avoided by the use of commercially reasonable measures available to Guarantor or the Company, as the case may be; provided, however, that (a) no such notice of redemption may be given earlier than 90 days prior to the earliest date on which Guarantor or the Company, as the case may be, would be obligated to pay such Additional Amounts, and (b) at the time such notice of redemption is given, such obligation to pay such Additional Amounts remains in effect. Prior to the giving of any notice of redemption described in this paragraph, the Company or the Guarantor, as the case may be, shall deliver to the Trustee (i)(A) a certificate signed by two Officers of the Company stating that the obligation to pay Additional Amounts cannot be avoided by the Company taking commercially reasonable measures available to it or (B) a certificate signed by two Officers of the Guarantor stating that the obligation to pay Additional Amounts cannot be avoided by Guarantor taking commercially reasonable measures available to it, and (ii) a written opinion of independent legal counsel to the Guarantor or the Company, as the case may be, of recognized standing to the effect that the Company has or there is a material probability that it will become obligated to pay Additional Amounts as a result of a change, amendment, official interpretation or application described above and that the Guarantor or the Company, as the case may be, cannot avoid the payment of such Additional Amounts by taking commercially reasonable measures available to it.

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