Distributions; Xxxxxx Mae Guaranty Sample Clauses

Distributions; Xxxxxx Mae Guaranty. On each Distribution Date, Xxxxxx Xxx shall withdraw from the Trust Account the Class Distribution Amount for each Class and shall cause the Paying Agent to make the appropriate distributions to the Holders of each related Class. All distributions of such Class Distribution Amount which are made with respect to a particular Class 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. In the event that the amount on deposit in the Trust Account on any Distribution Date allocable to any Class shall be less than the related Class Distribution Amount, Xxxxxx Mae shall provide from its own funds the amount of any insufficiency so that the full related Class Distribution Amount is distributed on such Distribution Date. In addition, in the event that (i) a Class Distribution Amount shall be insufficient to pay all interest due and payable on the related Class on such Distribution Date or
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Distributions; Xxxxxx Mae Guaranty. On each Distribution Date, the Trustee shall distribute or cause to be distributed to each Certificateholder of record on the preceding Record Date in federal funds such Certificateholder’s Percentage Interest in the Certificate Distribution Amount. Xxxxxx Xxx guarantees to the Holders of the Certificates that (i) interest will be distributed on each Distribution Date in an amount equal to the Interest Distribution Amount for such date and (ii) principal will be distributed on each Distribution Date in an amount equal to the Principal Distribution Amount for such date. In addition, Xxxxxx Mae guarantees the payment of any Outstanding Class Balance on the Final Distribution Date.
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Distributions; Xxxxxx Mae Guaranty. On or before each Determination Date (or as soon thereafter as is reasonably practicable), Xxxxxx Xxx shall calculate the Lower Tier Distribution Amount for the current calendar month. On each Distribution Date, Xxxxxx Mae shall withdraw from the Certificate Account the portion of the Lower Tier Distribution Amount distributable thereon and shall make the distributions to the Holders of the related Lower Tier Regular Classes in the respective amounts and in the applicable manner determined pursuant to Section 2.02. In the event that the amount on deposit in the Certificate Account on any Distribution Date shall be less than the applicable portion of the Lower Tier Distribution Amount distributable thereon, Xxxxxx Xxx shall provide from its own funds the amount of any such insufficiency. In addition, in the event that (i) the applicable portion of the Lower Tier Distribution Amount shall be insufficient to pay all interest due and payable on the related Lower Tier Regular Classes on such Distribution Date or (ii) such Distribution Date is a Final Distribution Date for any Class and the distribution on such Distribution Date of the applicable portion of the Lower Tier Distribution Amount will not be sufficient to reduce the Class Balance of such Class to zero on such Final Distribution Date, then Xxxxxx Mae shall (a) withdraw from the Certificate Account, such amount as shall be necessary to remedy such insufficiency and (b) to the extent that funds in the Certificate Account shall be insufficient therefor, apply its own funds towards remedying the same.
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Distributions; Xxxxxx Mae Guaranty. On each Distribution Date, Xxxxxx Xxx shall withdraw from the Trust Account the Class Distribution Amount for each Class and shall cause the Paying Agent to make the appropriate distribution in immediately available funds to the Depository pursuant to Section 3.01. In the event that the amount on deposit in the Trust Account on any Distribution Date allocable to any Class shall be less than the related Class Distribution Amount, Fannie Mae shall provide from its own funds the amount of any insufficiency so that the full related Class Distribution Amount is distributed on such Distribution Date. In addition, in the event that (i) a Class Distribution Amount shall be insufficient to pay all interest due and payable on the related Class on such Distribution Date or
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Distributions; Xxxxxx Mae Guaranty. (a) On each Distribution Date, the Trustee shall withdraw from amounts deposited in the Certificate Account in respect of interest collections on the Underlying REMIC Securities and Insurance Payments in respect of interest payable on the Class A Certificates, first, an amount sufficient to pay to the Holders of each Class of Class A Certificate the amount of interest for such Class required to be distributed on such Distribution Date in accordance with Section 4.2(a) hereof. If, on any Distribution Date, the related interest collections on deposit in the Certificate Account, after giving effect to any Insurance Payments paid by the Certificate Insurer for that Distribution Date, are insufficient to pay such amount to each Class of Class A Certificates, the Guarantor shall provide from its own funds the amount by which the aggregate amount of interest required to be distributed on the Class A Certificates exceeds such interest collections and Insurance Payments on deposit in the Certificate Account (any such excess, the “Interest Guaranty Amount”) and shall cause the full amount of interest to be distributed in respect of such Class of Class A Certificates on such Distribution Date. On each Distribution Date, the Trustee shall also withdraw, from the related interest collections on deposit in the Certificate Account, an amount to pay to the Holders of the Class AB Certificates, interest payments to be made in the order of priority set forth in Section 4.2(a). (b) On each Distribution Date, the Trustee shall withdraw from amounts deposited in the Certificate Account in respect of principal collections on the Underlying REMIC Securities, Excess Interest Amortization Amounts and Insurance Payments in respect of principal payable on the Class A Certificates, first, an amount sufficient to pay to the Holders of each Class of Class A Certificates the amount of principal required to be distributed on such Class on such Distribution Date in accordance with Section 4.2(b) hereof. If the related principal collections and Interest Parity Amortization Amount on deposit in the Certificate Account, after giving effect to any Insurance Payments paid by the Certificate Insurer for that Distribution Date, are insufficient to pay such amount to each Class of Class A Certificates on any Distribution Date, the Guarantor shall also provide from its own funds the amount by which the aggregate amount of principal required to be distributed on the Class A Certificates exceeds suc...
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Distributions; Xxxxxx Mae Guaranty. On each Distribution Date, Xxxxxx Xxx shall withdraw Available Funds from the Certificate Account and shall make the distributions to the Holders of the related Lower Tier Regular Classes in the respective amounts and in the applicable manner determined pursuant to Section 2.
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Distributions; Xxxxxx Mae Guaranty. On each Distribution Date, the Trustee shall withdraw from the Trust Account and shall distribute or cause to be distributed to the Depository in Federal funds the applicable Certificate Distribution Amount. Interest on each Class of Certificates for the Interest Accrual Period at the applicable Certificate Interest Rate shall be distributed on each Distribution Date. The total amount of interest distributed on any Distribution Date on each Certificate shall be equal to one month’s interest at the applicable Certificate Interest Rate on the Certificate Principal Balance (or, in the case of a Class 3-B Certificate, on the Notional Principal Balance) of such Certificate immediately prior to such Distribution Date. On each Distribution Date, distributions in reduction of the Certificate Principal Balances of the Class 3-A Certificates shall be made in an amount equal to the Principal Distribution Amount. In addition, on each Distribution Date, the Prepayment Penalty Amount, if any, shall be distributed on the Class 3-B Certificates. Xxxxxx Xxx guarantees that (i) interest will be distributed on each Distribution Date in an amount equal to the Interest Distribution Amount and (ii) principal will be distributed on each Distribution Date in an amount equal to the Principal Distribution Amount, the aggregate of such principal distributions over the life of the Certificates being equal to the Original Class Certificate Principal Balance.
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Distributions; Xxxxxx Mae Guaranty. On each Distribution Date, Xxxxxx Xxx shall withdraw from the Trust Account the Class Distribution Amount for each Class. In the case of each Class of DTC Certificates, Xxxxxx Mae shall cause the Paying Agent to make the appropriate distribution in immediately available funds to the Depository pursuant to Section 3.01. In the case of each Class of Fed Book-Entry Certificates, Xxxxxx Xxx shall cause the Paying Agent to make the appropriate distributions to the Holders of each related Class. All distributions of such Class Distribution Amount which are made with respect to a particular Class, 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. In the event that the amount on deposit in the Trust Account on any Distribution Date allocable to any Class shall be less than the related Class Distribution Amount, Xxxxxx Mae shall provide from its own funds the amount of any insufficiency so that the full related Class Distribution Amount is distributed on such Distribution Date. In addition, in the event that (i) a Class Distribution Amount shall be insufficient to pay all interest due and payable on the related Class on such Distribution Date or
Sample 1
Distributions; Xxxxxx Mae Guaranty. On each Distribution Date, the Trustee shall distribute or cause to be distributed to each Certificateholder of record on the preceding Record Date in Federal funds such Certificateholder’s Percentage Interest in the applicable Certificate Distribution Amount. Xxxxxx Xxx guarantees to the Holders of Certificates that (i) interest will be distributed on each Distribution Date in an amount equal to the Interest Distribution Amount, (ii) principal will be distributed on each Distribution Date in an amount equal to the Principal Distribution Amount and (iii) the Outstanding Certificate Principal Amount as of the Final Distribution Date will be distributed on that date; provided that the aggregate of such principal distributions over the life of the Certificates, together with any amount distributed as principal in connection with any termination of the Trust Fund pursuant to Section 8.01 hereof, shall in no event exceed the Original Certificate Principal Amount.
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Related to Distributions; Xxxxxx Mae Guaranty

  • Distributions; Xxxxxx Xxx Guaranty On or before each Determination Date (or as soon thereafter as is reasonably practicable), Xxxxxx Mae shall calculate the Lower Tier Distribution Amount for the current calendar month. On each Distribution Date, Xxxxxx Xxx shall withdraw from the Certificate Account the portion of the Lower Tier Distribution Amount distributable thereon and shall make the distributions to the Holders of the related Lower Tier Regular Classes in the respective amounts and in the applicable manner determined pursuant to Section 2.02. In the event that the amount on deposit in the Certificate Account on any Distribution Date shall be less than the applicable portion of the Lower Tier Distribution Amount distributable thereon, Xxxxxx Mae shall provide from its own funds the amount of any such insufficiency. In addition, in the event that (i) the applicable portion of the Lower Tier Distribution Amount shall be insufficient to pay all interest due and payable on the related Lower Tier Regular Classes on such Distribution Date or (ii) such Distribution Date is a Final Distribution Date for any Class and the distribution on such Distribution Date of the applicable portion of the Lower Tier Distribution Amount will not be sufficient to reduce the Class Balance of such Class to zero on such Final Distribution Date, then Xxxxxx Xxx shall (a) withdraw from the Certificate Account, such amount as shall be necessary to remedy such insufficiency and (b) to the extent that funds in the Certificate Account shall be insufficient therefor, apply its own funds towards remedying the same.

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  • Subordinate Certificate Loss Coverage; Limited Guaranty Subject to subsection (c) below, prior to the later of the third Business Day prior to each Distribution Date or the related Determination Date, the Master Servicer shall determine whether it or any Sub-Servicer will be entitled to any reimbursement pursuant to Section 4.02(a) on such Distribution Date for Advances or Sub-Servicer Advances previously made, (which will not be Advances or Sub-Servicer Advances that were made with respect to delinquencies which were subsequently determined to be Excess Special Hazard Losses, Excess Fraud Losses, Excess Bankruptcy Losses or Extraordinary Losses) and, if so, the Master Servicer shall demand payment from Residential Funding of an amount equal to the amount of any Advances or Sub-Servicer Advances reimbursed pursuant to Section 4.02(a), to the extent such Advances or Sub-Servicer Advances have not been included in the amount of the Realized Loss in the related Mortgage Loan, and shall distribute the same to the Class B Certificateholders in the same manner as if such amount were to be distributed pursuant to Section 4.02(a).

  • Payments to the Liquidity Provider Under the Intercreditor Agreement In order to provide for payment or repayment to the Liquidity Provider of any amounts hereunder, the Intercreditor Agreement provides that amounts available and referred to in Articles II and III of the Intercreditor Agreement, to the extent payable to the Liquidity Provider pursuant to the terms of the Intercreditor Agreement (including, without limitation, Section 3.6(f) of the Intercreditor Agreement), shall be paid to the Liquidity Provider in accordance with the terms thereof. Amounts so paid to the Liquidity Provider shall be applied by the Liquidity Provider to Liquidity Obligations then due and payable in accordance with the Intercreditor Agreement or, if not provided for in the Intercreditor Agreement, then in such manner as the Liquidity Provider shall deem appropriate.

  • Distribution of payments to Creditor Parties Subject to Clauses 16.5, 16.6 and 16.7: (a) any amount received by the Agent under a Finance Document for distribution or remittance to a Lender or the Security Trustee shall be made available by the Agent to that Lender or, as the case may be, the Security Trustee by payment, with funds having the same value as the funds received, to such account as the Lender or the Security Trustee may have notified to the Agent not less than 5 Business Days previously; and (b) amounts to be applied in satisfying amounts of a particular category which are due to the Lenders generally shall be distributed by the Agent to each Lender pro rata to the amount in that category which is due to it.

  • Rollovers of Settlement Payments From Bankrupt Airlines If you are a qualified airline employee who has received a qualified airline settlement payment from a commercial airline carrier under the approval of an order of a federal bankruptcy court in a case filed after September 11, 2001, and before January 1, 2007, you are allowed to roll over any portion of the proceeds into your Xxxx XXX within 180 days after receipt of such amount, or by a later date if extended by federal law. For further detailed information and effective dates you may obtain IRS Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs), from the IRS or refer to the IRS website at xxx.xxx.xxx.

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