Payments Due from the Trust Sample Clauses

Payments Due from the Trust. Subject to Sections 4 and 6, on each Payment Date on which a Tranche Write-down Amount shall be allocated to any Class of Reference Tranche corresponding to a Class of Notes and which reduces the Class Principal Balance of such Corresponding Class of Notes, the Trust shall pay to Freddie Mac, by deposit into an account designated by Freddie Mac, the applicable Return Amount on such Payment Date. The payment obligation of the Trust to pay the Return Amount under this Agreement shall be limited to amounts on deposit in the Custodian Account.
AutoNDA by SimpleDocs
Payments Due from the Trust. Subject to Sections 4 and 6, on each Payment Date on which a Tranche Write-down Amount shall be allocated to any Class of Reference Tranche corresponding to a Class of Notes and which reduces the Class Principal Balance of such Corresponding Class of Notes, the Trust shall pay to Xxxxxxx Xxx, by deposit into an account designated by Xxxxxxx Xxx, the applicable Return Amount on such Payment Date. The payment obligation of the Trust to pay the Return Amount under this Agreement shall be limited to amounts on deposit in the Custodian Account.
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!