Payment of Certificate Interest Sample Clauses

Payment of Certificate Interest. On each Distribution ------------------------------- Date, the Paying Agent shall pay in accordance with Section 5.01 of the Agreement to the Class A Certificateholders from the Distribution Account the amount deposited into the Distribution Account pursuant to subsections 4.09(a)(i), 4.13(a), 4.14(a)(i)(x) and 4.14(b)(i) of the Agreement on the related Transfer Date or such Distribution Date, as applicable, to the Class B Certificateholders from the Distribution Account the amount deposited into the Distribution Account pursuant to subsections 4.09(b)(i), 4.13(c) and 4.14(a)(i)(y) of the Agreement on the related Transfer Date and to the CIA Certificateholders from the Distribution Account the amount deposited into the Distribution Account pursuant to subsection 4.13(f) of the Agreement on the related Transfer Date.
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Payment of Certificate Interest. On each Transfer Date, the Trustee, acting in accordance with instructions from the Servicer set forth in the Daily Report for such day, shall withdraw the amount on deposit in the Interest Funding Account with respect to the preceding Monthly Period allocable to the Series 1997-1 Certificates and deposit such amount in the Distribution Account. On each Distribution Date, the Paying Agent shall pay in accordance with Section 5.1 of the Agreement to (w) the Class A Certificateholders from the Distribution Account such amount deposited into the Distribution Account on the related Transfer Date allocable thereto pursuant to subsection 4.9(a)(i) of the Agreement, (x) the Class B Certificateholders from the Distribution Account the amount deposited into the Distribution Account on the related Transfer Date allocable thereto pursuant to subsections 4.9(a)(ii) and (viii) of the Agreement, (y) the Class C Certificateholders from the Distribution Account the amount deposited into the Distribution Account on the related Transfer Date allocable thereto pursuant to subsections 4.9(a)(iii) and (ix) of the Agreement, and (z) the Class D Certificateholders from the Distribution Account the amount deposited into the Distribution Account on the related Transfer Date allocable thereto pursuant to subsection 4.9(a)(xv) of the Agreement.
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Payment of Certificate Interest. On each Transfer Date, the Trustee, acting in accordance with instructions from the Servicer set forth in the Daily Report for such day, shall withdraw the amount on deposit in the Interest Funding Account with respect to the prior Monthly Period allocable to the Series 1998-1 Certificates and deposit such amount in the Distribution Account. On each Distribution Date, the Paying Agent shall pay in accordance with Section 5.1 of the Agreement to (x) the Class A Certificateholders from the Distribution Account such amount deposited into the Distribution Account on the related Transfer Date allocable thereto pursuant to subsection 4.9(a)(i) and (y) the Class B Certificateholders from the Distribution Account the amount deposited into the Distribution Account allocable thereto pursuant to subsections 4.9(a)(ii) and (vii).
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Payment of Certificate Interest. On each Transfer Date, the Trustee, acting in accordance with instructions from the Servicer set forth in the Daily Report for such day, shall withdraw the amount on deposit in the Interest Funding Account with respect to the preceding Monthly Period allocable to the Series 1997-1 Certificates and deposit such amount in the Distribution Account. On each Distribution Date, the Paying Agent shall pay in accordance with Section 5.1 of the Agreement (x) to the Class A Certificateholders from the Distribution Account the amount deposited into the Interest Funding Account during the preceding Monthly Period pursuant to subsections 4.9(a)(i) and 4.9(a)(viii) and Sections 4.10 and 4.14 with respect to the related Interest Accrual Period and (y) the Class B Certificateholders from the Distribution Account the amount deposited into the Interest Funding Account during the preceding Monthly Period pursuant to subsections 4.9(a)(ii) and Section 4.10 with respect to the related Interest Accrual Period.
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Payment of Certificate Interest. On each Distribution Date, the ------------------------------- Paying Agent shall pay in accordance with Section 5.1 to the Class A Holders, ----------- the Class B Holders and the Class C Holders, respectively, from the Distribution Account the amount deposited into the Distribution Account pursuant to subsections 4.6(a), 4.6(b) and 4.6(h) on the preceding Transfer Date ------------------ ------ ------
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Payment of Certificate Interest. On each Distribution ------------------------------- Date, the Paying Agent shall pay in accordance with Section 5.1: (i) to the Class A Certificateholders from the Distribution Account the amount deposited into the Distribution Account pursuant to subsection 4.6(a) on the related Transfer Date; (ii) to the Class B Certificateholders from the Distribution Account the amount deposited into the Distribution Account pursuant to subsection 4.6(b) on the related Transfer Date; and (iii) to the Class C Certificateholders from the Distribution Account the amount deposited into the Distribution Account pursuant to subsection 4.6(f) on the related Transfer Date.
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Payment of Certificate Interest. On each Distribution Date, the Paying Agent shall pay in accordance with Section 5.1: (i) to the Class A Certificateholders from the Collection Account the amount determined pursuant to Section 4.6(a) on the related Transfer Date; (ii) to the Class B Certificateholders from the Collection Account the amount determined pursuant to Section 4.6(b) on the related Transfer Date; (iii) to the Class C Certificateholders (other than the Servicer and its
Sample 1
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Payment of Certificate Interest. On each Transfer Date, the Trustee, acting in accordance with instructions from the Servicer set forth in the Daily Report for such day, shall withdraw the amount on deposit in the Interest Funding Account with respect to the preceding Monthly Period allocable to the Series 1995-1 Certificates and deposit such amount in the Dis- tribution Account. On each Business Day, the Paying Agent shall pay in accordance with Section 5.1 of the Agreement to Class A Certificateholders from the Distri- bution Account an amount equal to the sum of the Class C Interest Adjustment, if any, and the Class B Interest Adjustment, if any, deposited into the Distribution Account pursuant to Section 4.
Sample 1
Payment of Certificate Interest. On each Transfer Date, the Trustee, acting in accordance with instructions from the Servicer set forth in the Monthly Certificateholders’ Statement, shall withdraw from the Finance Charge Account an amount equal to the amount on deposit in the Finance Charge Account with respect to the prior Monthly Period allocable to the Investor Certificates, less the excess, if any, of the Class A Projected Monthly Interest and Fees for the related Distribution Date over the Class A Monthly Interest and Fees for the related Distribution Date and deposit such amount in the Distribution Account. Any amount remaining on deposit in the Finance Charge Account with respect to the prior Monthly Period after giving effect to such withdrawal, shall be allocated to cover any shortfalls in amounts allocated in respect of such Monthly Period pursuant to Sections 4.11(a)(ii) through (vii) (in that order or priority) and otherwise shall be treated as Excess Finance Charge Collections in respect of such Monthly Period pursuant to Section 4.11(a)(viii). On each Distribution Date, the Paying Agent shall pay in accordance with Section 5.1 of the Agreement to (x) the Class A Certificateholders from the Distribution Account out of the amount deposited into the Distribution Account on the related Transfer Date the Class A Monthly Interest and Fees, and (y) the Class B Certificateholders from the Distribution Account that portion of the amount deposited into the Distribution Account arising from allocations pursuant to Section 4.11(a)(vi) of the Agreement in respect of the related Monthly Period.
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Related to Payment of Certificate Interest

  • Establishment of Certificate Payment Account Pursuant to Section 4.1 of the Sale and Servicing Agreement, the Servicer has agreed to establish, on or before the Closing Date, and maintain in the name of the Indenture Trustee at an Eligible Institution (which shall initially be the Indenture Trustee) a segregated trust account designated as the “CarMax Auto Owner Trust 2019-3 Trust Account” (the “Certificate Payment Account”). The Certificate Payment Account shall be held in trust for the benefit of the Certificateholders. Except as expressly provided in Section 3.9, the Certificate Payment Account shall be under the sole dominion and control of the Indenture Trustee. All monies deposited from time to time in the Certificate Payment Account pursuant to the Sale and Servicing Agreement or the Indenture shall be applied as provided in this Trust Agreement, the Sale and Servicing Agreement and the Indenture. The amounts on deposit in the Certificate Payment Account shall not be invested.

  • Determination of Certificate Index On each Interest Determination Date, the Trust Administrator shall determine the Certificate Index for the Accrual Period and make it available to the Master Servicer, and such rate shall be final and binding, absent a manifest error of the Trust Administrator.

  • Replacement of Certificates If (i) any Certificate is mutilated and is surrendered to the Trustee or any Authenticating Agent or (ii) the Trustee or any Authenticating Agent receives evidence to its satisfaction of the destruction, loss or theft of any Certificate, and there is delivered to the Trustee or the Authenticating Agent such security or indemnity as may be required by them to save each of them harmless, then, in the absence of notice to the Depositor and any Authenticating Agent that such destroyed, lost or stolen Certificate has been acquired by a bona fide purchaser, the Trustee shall execute and the Trustee or any Authenticating Agent shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Certificate, a new Certificate of like tenor and Certificate Principal Amount. Upon the issuance of any new Certificate under this Section 3.05, the Trustee and Authenticating Agent may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee or the Authenticating Agent) connected therewith. Any replacement Certificate issued pursuant to this Section 3.05 shall constitute complete and indefeasible evidence of ownership in the applicable Trust Fund, as if originally issued, whether or not the lost, stolen or destroyed Certificate shall be found at any time.

  • Establishment of Certificate Distribution Account (a) Except as otherwise provided in Section 5.2, the Administrator, for the benefit of the Certificateholders, shall establish and maintain in the name of the Trust an Eligible Deposit Account known as the Ally Auto Receivables Trust 2014-SN1 Certificate Distribution Account (the “Certificate Distribution Account”), bearing an additional designation clearly indicating that the funds deposited therein are held for the benefit of the Certificateholders.

  • Form of Certificates Every holder of stock in the Corporation shall be entitled to have a certificate signed, in the name of the Corporation (i) by the Chief Executive Officer or a Vice President and (ii) by the Treasurer or an Assistant Treasurer, or the Secretary or an Assistant Secretary of the Corporation, certifying the number of shares owned by him in the Corporation.

  • DISTRIBUTIONS IN RESPECT OF CERTIFICATES PAYMENTS TO CERTIFICATEHOLDERS;

  • Appointment of Certificate Paying Agent The Certificate Paying Agent shall make distributions to the Certificateholder from the Certificate Distribution Account pursuant to Article VIII and Article XI hereof and shall report the amounts of such distributions to the Owner Trustee. Any Certificate Paying Agent shall have the revocable power to withdraw funds from the Certificate Distribution Account for the purpose of making the distributions referred to above. The Owner Trustee shall revoke such power and remove the Certificate Paying Agent if the Owner Trustee or the Depositor by written direction to the Owner Trustee determines, each in its sole discretion that the Certificate Paying Agent shall have failed to perform its obligations under this Agreement in any material respect. The Certificate Paying Agent initially shall be Wilmington Trust Company, and any co-paying agent chosen by Wilmington Trust Company and the Depositor. Wilmington Trust Company shall be permitted to resign as Certificate Paying Agent upon 30 days’ written notice to the Owner Trustee and the Depositor. In the event that Wilmington Trust Company shall no longer be the Certificate Paying Agent, the Depositor, with the consent of the Owner Trustee, shall appoint a successor to act as Certificate Paying Agent (which shall be a bank or trust company). The Owner Trustee shall cause such successor Certificate Paying Agent or any additional Certificate Paying Agent appointed hereunder to execute and deliver to the Owner Trustee an instrument in which such successor Certificate Paying Agent or additional Certificate Paying Agent shall agree with the Owner Trustee that, as Certificate Paying Agent, such successor Certificate Paying Agent or additional Certificate Paying Agent will hold all sums, if any, held by it for payment to the Certificateholder in trust for the benefit of the Certificateholder entitled thereto until such sums shall be paid to the Certificateholder. The Certificate Paying Agent shall return all unclaimed funds to the Owner Trustee and upon removal of a Certificate Paying Agent such Certificate Paying Agent shall also return all funds in its possession to the Owner Trustee. The provisions of Articles VI and VII shall apply to the Owner Trustee also in its role as Certificate Paying Agent, for so long as the Owner Trustee shall act as Certificate Paying Agent and, to the extent applicable, to any other paying agent appointed hereunder. Any reference in this Agreement to the Certificate Paying Agent shall include any co-paying agent unless the context requires otherwise.

  • Designation of Certificates Designation of Startup Day and Latest Possible Maturity Date................................ Section 2.06 Optional Substitution of Mortgage Loans...........................

  • List of Certificateholders Upon written request of three or more Certificateholders of record, for purposes of communicating with other Certificateholders with respect to their rights under this Agreement, the Trustee will afford such Certificateholders access during business hours to the most recent list of Certificateholders held by the Trustee.

  • Loss of Certificates In case of the alleged loss or destruction or the mutilation of a share certificate, a duplicate certificate may be issued in place thereof, upon such terms as the Trustees shall prescribe.

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