Common use of Payments of Principal and Interest Clause in Contracts

Payments of Principal and Interest. The Trustee will pay the principal amount of each Certificated Note at Maturity upon presentation of such Note to the Trustee. Such payment, together with payment of interest due at Maturity of such Note, will be made in funds available for immediate use by the Holder of such Note. Certificated Notes presented to the Trustee at Maturity for payment will be cancelled by the Trustee in accordance with the terms of the Indenture and returned to the Issuer. All interest payments on a Certificated Note (other than interest due at Maturity) will be made by check drawn on the Trustee (or another Person appointed by the Trustee) and mailed by the Trustee to the Person entitled thereto as provided in such Note. Following each Regular Record Date and Special Record Date, the Trustee will furnish the Issuer with a list of interest payments to be made on the following Interest Payment Date for each Certificated Note and in total for all Certificated Notes. Interest at Maturity will be payable to the Person to whom the payment of principal is payable. The Trustee will provide monthly to the Issuer lists of principal and interest to be paid on Certificated Notes maturing in the next month. The Trustee will be responsible for withholding taxes on interest paid on Certificated Notes as required by applicable law. On the first Business Day of each month, the Trustee will deliver to the Issuer by facsimile transmission a written statement, indicating the total principal amount of Outstanding Certificated Notes for which it serves as trustee as of the immediately preceding Business Day. If any Interest Payment Date for a Fixed Rate Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Fixed Rate Certificated Note, the payment due on such Interest Payment Date will be made on the following day that is a Business Day with respect to such Fixed Rate Certificated Note, and no interest shall accrue on the amount payable on such Interest Payment Date for the period from and after such Interest Payment Date to such following day that is a Business Day. If any Interest Payment Date for a Floating Rate Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Floating Rate Certificated Note, such Interest Payment Date will be the following day that is a Business Day with respect to such Floating Rate Certificated Note; PROVIDED, HOWEVER, that in the case of a Floating Rate Certificated Note that is a LIBOR Note (or a Floating Rate Certificated Note for which LIBOR is the applicable Base Rate), if such Business Day is in the next succeeding calendar month, such Interest Payment Date will be the immediately preceding day that is a Business Day. If the date of Maturity of a Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Certificated Note, the payment due at Maturity will be made on the following day that is a Business Day with respect to such Certificated Note, and no interest shall accrue on the amount payable at Maturity for the period from and after the date of Maturity.

Appears in 2 contracts

Samples: Distribution Agreement (Walt Disney Co/), Distribution Agreement (Walt Disney Co/)

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Payments of Principal and Interest. The (a) Payments on Bonds issued as Book Entry Bonds will be made by or on behalf of the Trustee to the Clearing Agency or its nominee. Any installment of interest or principal payable on any Definitive Bonds that is punctually paid or duly provided for by the Issuer on the applicable Payment Date shall be paid to the Person in whose name such Bond (or one or more Predecessor Bonds) is registered at the close of business on the Record Date for such Payment Date by either (i) check mailed to such Person's address as it appears in the Bond Register on such Record Date, or (ii) by wire transfer of immediately available funds to the account of a Bondholder, if such Bondholder (A) is the registered holder of Definitive Bonds having an initial principal amount of at least $[ ] and (B) has provided the Trustee with wiring instructions in writing by five days prior to the related Record Date or has provided the Trustee with such instructions for any previous Payment Date, except for the final installment of principal payable with respect to such Bond (or the Redemption Price for any Bond called for redemption, if such redemption will pay result in payment of the then entire unpaid principal amount of such Bond), which shall be payable as provided in subsection (b) below of this Section 2.08. A fee may be charged by the Trustee to a Bondholder of Definitive Bonds for any payment made by wire transfer. Any installment of interest or principal not punctually paid or duly provided for shall be payable as soon as funds are available to the Trustee for payment thereof, or if Section 5.07 applies, pursuant to Section 5.07. (b) All reductions in the principal amount of a Bond (or one or more Predecessor Bonds) effected by payments of installments of principal made on any Payment Date shall be binding upon all Holders of such Bond and of any Bond issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof, whether or not such payment is noted on such Bond. The final installment of principal of each Certificated Note at Maturity Bond (including the Redemption Price of any Bond called for optional redemption, if such optional redemption will result in payment of the entire unpaid principal amount of such Bond) shall be payable only upon presentation and surrender thereof on or after the Payment Date therefor at the Trustee's presenting office in [the Borough of Manhattan, the City of New York, State of New York], pursuant to Section 3.02. Whenever the Trustee expects that the entire remaining unpaid principal amount of any Bond will become due and payable on the next Payment Date other than pursuant to a redemption pursuant to Section 10.02, it shall, no later than two days prior to such Payment Date, telecopy or hand deliver to each Person in whose name a Bond to be so retired is registered at the close of business on such otherwise applicable Record Date a notice to the effect that: (i) the Trustee expects that funds sufficient to pay such final installment will be available in the Bond Account on such Payment Date; and (ii) if such funds are available, (A) such final installment will be payable on such Payment Date, but only upon presentation and surrender of such Note Bond at the office or agency of the Trustee maintained for such purpose pursuant to Section 3.02 (the address of which shall be set forth in such notice) and (B) no interest shall accrue on such Bond after such Payment Date. Notices in connection with redemptions of Bonds shall be mailed to Bondholders in accordance with Section 10.02. (c) Subject to the Trusteeforegoing provisions of this Section, each Bond delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Bond shall carry the rights to unpaid principal and interest that were carried by such other Bond. Such paymentAny checks mailed pursuant to subsection (a) of this Section 2.08 and returned undelivered shall be held in accordance with Section 3.03. (d) Not later than each Payment Date, together the Trustee shall prepare and deliver to the Issuer a statement (a "Payment Date Statement") with payment respect to such Payment Date setting forth: (i) the amount of interest due paid to Bondholders on such Payment Date; (ii) the amount of principal paid to Bondholders on such Payment Date and the Bond Balance after giving effect to such payment; (iii) the amount of Servicing Fees and other servicing compensation and such other customary information as the Trustee deems necessary or desirable, or that a Bondholder reasonably requests, in respect of servicing expense; (iv) the amount of Monthly Advances to be made by the Servicer or the Trustee; (v) the amount, if any, of Monthly Advances reimbursable to the Servicer or the Trustee, as applicable, and not previously reimbursed; (vi) the Aggregate Stated Balance of the Mortgage Loans as of the related Determination Date; (vii) the aggregate amount of Prepayments made on the Mortgage Loans during the related Prepayment Period; (viii) the aggregate of any Insurance Proceeds, Liquidation Proceeds, Condemnation Proceeds and REO Disposition Proceeds received in respect of any Mortgage Loan during the related Prepayment Period; and (ix) the Subordination Level and the current Required Subordination Level remaining in the Mortgage Pool, in each case, at Maturity the close of business on such NotePayment Date. In the case of information furnished pursuant to subclauses (i) and (ii) above, the amounts will be made in funds available for immediate use by the Holder expressed as a dollar amount per $[ ] denomination of such NoteBonds. Certificated Notes presented to the Trustee at Maturity for payment Each Payment Date Statement will be cancelled delivered by the Trustee only in accordance with the terms event it receives the related Servicer report required under Section [ ] of the Indenture and returned Servicing Agreement on or prior to the IssuerServicer Reporting Date. All interest payments on a Certificated Note (other than interest due at Maturity) will Each Payment Date Statement shall be made by check drawn on the Trustee (or another Person appointed by the Trustee) and mailed delivered by the Trustee to the Person entitled thereto Issuer and the Rating Agency and shall also be delivered to each Bondholder as provided the statement required pursuant to Section 8.05. The Trustee shall have no responsibility to recalculate, verify or recompute information contained in any such NoteServicer's report. Following Within a reasonable period of time after the end of each Regular Record Date and Special Record Datecalendar year, the Trustee will be required to furnish to each person who at any time during the Issuer with calendar year was a list of interest payments to be made on Bondholder a statement containing the following Interest Payment Date information set forth in subclauses (i) and (ii) above, aggregated for each Certificated Note and in total for all Certificated Notessuch calendar year or the applicable portion thereof during which such person was a Bondholder. Interest at Maturity Such obligation will be payable deemed to the Person to whom the payment of principal is payable. The Trustee will provide monthly to the Issuer lists of principal and interest to be paid on Certificated Notes maturing in the next month. The Trustee will be responsible for withholding taxes on interest paid on Certificated Notes as required by applicable law. On the first Business Day of each month, the Trustee will deliver to the Issuer by facsimile transmission a written statement, indicating the total principal amount of Outstanding Certificated Notes for which it serves as trustee as of the immediately preceding Business Day. If any Interest Payment Date for a Fixed Rate Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Fixed Rate Certificated Note, the payment due on such Interest Payment Date will be made on the following day that is a Business Day with respect to such Fixed Rate Certificated Note, and no interest shall accrue on the amount payable on such Interest Payment Date for the period from and after such Interest Payment Date to such following day that is a Business Day. If any Interest Payment Date for a Floating Rate Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Floating Rate Certificated Note, such Interest Payment Date will be the following day that is a Business Day with respect to such Floating Rate Certificated Note; PROVIDED, HOWEVER, that in the case of a Floating Rate Certificated Note that is a LIBOR Note (or a Floating Rate Certificated Note for which LIBOR is the applicable Base Rate), if such Business Day is in the next succeeding calendar month, such Interest Payment Date will be the immediately preceding day that is a Business Day. If the date of Maturity of a Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Certificated Note, the payment due at Maturity will be made on the following day that is a Business Day with respect to such Certificated Note, and no interest shall accrue on the amount payable at Maturity for the period from and after the date of Maturity.have been satisfied to

Appears in 1 contract

Samples: Indenture (Aames Capital Acceptance Corp)

Payments of Principal and Interest. The Trustee will pay the principal amount of each Certificated Note at Maturity upon presentation of such Note to the Trustee. Such payment, together with payment of interest due at Maturity of such Note, will be made in funds available for immediate use by the Holder of such Note. Certificated (a) Payments on Notes presented to the Trustee at Maturity for payment will be cancelled by the Trustee in accordance with the terms of the Indenture and returned to the Issuer. All interest payments on a Certificated Note (other than interest due at Maturity) issued as Book-Entry Notes will be made by check drawn or on behalf of the Trustee (or another Person appointed by the Trustee) and mailed by the Indenture Trustee to the Clearing Agency or its nominee. Any installment of interest or principal payable on any Definitive Notes that is punctually paid or duly provided for by the Issuing Entity on the applicable Payment Date shall be paid to the Person entitled thereto as provided in whose name such Note. Following each Regular Note (or one or more Predecessor Notes) is registered at the close of business on the Record Date for such Class of Notes and Special such Payment Date by either (i) wire transfer of immediately available funds to the account of a Noteholder, if such Noteholder has provided the Indenture Trustee with wiring instructions in writing by five (5) Business Days prior to the related Record Date or has provided the Indenture Trustee with such instructions for any previous Payment Date or (ii) check mailed to such Person’s address as it appears in the Note Register on such Record Date, except for the Trustee will furnish the Issuer with a list of interest payments to be made on the following Interest Payment Date for each Certificated Note and in total for all Certificated Notes. Interest at Maturity will be payable to the Person to whom the payment final installment of principal is payable. The Trustee will provide monthly to the Issuer lists of principal and interest to be paid on Certificated Notes maturing in the next month. The Trustee will be responsible for withholding taxes on interest paid on Certificated Notes as required by applicable law. On the first Business Day of each month, the Trustee will deliver to the Issuer by facsimile transmission a written statement, indicating the total principal amount of Outstanding Certificated Notes for which it serves as trustee as of the immediately preceding Business Day. If any Interest Payment Date for a Fixed Rate Certificated Note is scheduled to occur on a day that is not a Business Day payable with respect to such Fixed Rate Certificated Note, which shall be payable as provided in subsection (b) of this Section 2.08. A fee may be charged by the Indenture Trustee to a Holder of Definitive Notes for any payment due made by wire transfer. Any installment of interest or principal not punctually paid or duly provided for shall be payable as soon as funds are available to the Indenture Trustee for payment thereof, or if Section 5.07 applies, pursuant to Section 5.07. Payments on such Interest Payment Date Certificates will be made by or on behalf of the Indenture Trustee to or at the direction of the Person in whose name such Certificate is registered by either (i) wire transfer of immediately available funds to the account directed by a Certificateholder, if such Certificateholder (A) is Accredited Home Lenders, Inc. or its affiliate and (B) has provided the Indenture Trustee with wiring instructions in writing by five (5) Business Days prior to the related payment Date or has provided the Indenture Trustee with such instructions for any previous Payment Date or (ii) check mailed to such Person’s address as it appears in the Certificate Register on such Record Date. A fee may be charged by the Indenture Trustee to a Certificateholder for any payment made by wire transfer. The Indenture Trustee shall be entitled to rely on information provided by the Owner Trustee as Certificate Registrar as to all matters related to the Certificate Registrar and the Certificates. (b) All reductions in the Class Note Balance of a Note (or one or more Predecessor Notes) effected by payments of installments of principal made on any Payment Date shall be binding upon all Holders of such Note and of any Note issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof, whether or not such payment is noted on such Note. The final installment of principal of each Note shall be payable only upon presentation and surrender thereof on or after the Payment Date therefor at the designated office of the Indenture Trustee located within the United States of America pursuant to Section 3.02. Whenever the Indenture Trustee expects that the entire unpaid Class Note Balance of any Note will become due and payable on the following day that is next Payment Date, other than pursuant to a redemption pursuant to Article X, it shall, no later than two (2) Business Day with respect Days prior to such Fixed Rate Certificated NotePayment Date, mail to each Person in whose name a Note to be so retired is registered at the close of business on such otherwise applicable Record Date a notice to the effect that: (i) the Indenture Trustee expects that funds sufficient to pay such final installment will be available in the Payment Account on such Payment Date; and (ii) if such funds are available, (a) such final installment will be payable on such Payment Date, but only upon presentation and surrender of such Note at the office or agency of the Note Registrar maintained for such purpose pursuant to Section 3.02 (the address of which shall be set forth in such notice) and (b) no interest shall accrue on such Note after such Payment Date. Notices in connection with redemptions of Notes shall be mailed to Noteholders in accordance with Section 10.02 hereof. (c) Subject to the foregoing provisions of this Section 2.08, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to unpaid principal and interest that were carried by such other Note. Any checks mailed pursuant to paragraph (a) of this Section 2.08 and returned undelivered shall be held in accordance with Section 3.03 hereof. (d) The Indenture Trustee’s Remittance Report, shall be prepared by the Indenture Trustee based on the loan level data provided in the Servicer Remittance Report delivered to the Indenture Trustee pursuant to the Sale and Servicing Agreement. The Indenture Trustee shall not have any responsibility to recalculate, verify or recompute information contained in any tape, electronic data file or disk or Servicer Remittance Report delivered to the Indenture Trustee pursuant to the Sale and Servicing Agreement except to the extent necessary to satisfy all obligations under this Section 2.08(d). Within thirty (30) days after the end of each calendar year, the Indenture Trustee will be required to furnish to each Person who at any time during the calendar year was a Noteholder, if requested in writing by such person, a statement containing the information set forth in subclauses (a), (b) and (c) in the definition of “Indenture Trustee’s Remittance Report,” aggregated for such calendar year. Such obligation will be deemed to have been satisfied to the extent that substantially comparable information is provided pursuant to any requirements of the Code as are from time to time in force. From time to time (but no more than once per calendar month), upon the written request of the Depositor, the Sponsor, the Servicer, the Indenture Trustee shall report to the Depositor, the Sponsor and the Servicer the amount payable on such Interest Payment Date for the period from and after such Interest Payment Date to such following day that is a Business Day. If any Interest Payment Date for a Floating Rate Certificated Note is scheduled to occur on a day that is not a Business Day then held in each Account (including with respect to such Floating Rate Certificated Notethe Collection Account, such Interest Payment Date will be investment earnings accrued) held by the following day that is a Business Day with respect to such Floating Rate Certificated Note; PROVIDED, HOWEVER, that in Indenture Trustee and the case identity of a Floating Rate Certificated Note that is a LIBOR Note (or a Floating Rate Certificated Note for which LIBOR is the applicable Base Rate), if such Business Day is in the next succeeding calendar month, such Interest Payment Date will be the immediately preceding day that is a Business Day. If the date of Maturity of a Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Certificated Note, the payment due at Maturity will be made on the following day that is a Business Day with respect to such Certificated Note, and no interest shall accrue on the amount payable at Maturity for the period from and after the date of Maturityinvestments included therein.

Appears in 1 contract

Samples: Indenture (Accredited Mortgage Loan REIT Trust)

Payments of Principal and Interest. The Trustee will pay the principal amount of each Certificated Note at Maturity upon presentation of such Note to the Trustee. Such payment, together with payment of interest due at Maturity of such Note, will be made in funds available for immediate use by the Holder of such Note. Certificated Notes presented to the Trustee at Maturity for payment will be cancelled by the Trustee in accordance with the terms of the Indenture and returned to the Issuer. All interest payments on a Certificated Note (other than interest due at Maturity) will be made by check drawn on the Trustee (or another Person appointed by the Trustee) and mailed by the Trustee to the Person entitled thereto as provided in such Note. Following each Regular Record Date and Special Record Date, the Trustee will furnish the Issuer with a list of interest payments to be made on the following Interest Payment Date for each Certificated Note and in total for all Certificated Notes. Interest at Maturity will be payable Notes to the Person to whom the payment of principal is payableextent ascertainable. The Trustee will provide monthly to the Issuer Company lists of principal and interest interest, to the extent ascertainable, to be paid on Certificated Notes maturing in the next month. The Company will provide to the Trustee not later than any payment date sufficient moneys to pay in full all principal and interest payments due on the payment date. The Trustee shall make all such payments in accordance with the terms of the Notes. The Trustee will be responsible for withholding taxes on interest paid on Certificated Notes as required by applicable law. On If the first Business Day Maturity or Redemption of each month, the Trustee will deliver to the Issuer by facsimile transmission a written statement, indicating the total principal amount of Outstanding Certificated Notes for which it serves as trustee as of the immediately preceding Business Day. If any Interest Payment Date for a Fixed Rate Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Fixed Rate Certificated NoteDay, the payment due on such Interest Payment Date will day shall be made on the following day that is a next succeeding Business Day with respect to such Fixed Rate Certificated Note, and no interest shall accrue on the amount payable on such Interest Payment Date payment date for the period from and after such Interest Payment Date to such following day that is a Business Day. If any Interest Payment Date for a Floating Rate Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Floating Rate Certificated NoteMaturity or date of Redemption, such Interest Payment Date will be the following day that is a Business Day with respect to such Floating Rate Certificated Note; PROVIDED, HOWEVER, that in as the case may be. Procedures upon Company's Exercise of Optional Reset or Optional Extension of Maturity: Company Notice to Trustee Regarding Exercise of Optional Reset. Not less than 50 or more than 60 days before an Optional Reset Date as set forth in a Floating Rate Certificated Note that is a LIBOR Note (or a Floating Rate Certificated Note for which LIBOR is the applicable Base Rate), if such Business Day is in the next succeeding calendar month, such Interest Payment Date will be the immediately preceding day that is a Business Day. If the date of Maturity of a Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Certificated Note, the payment due at Maturity Company will be made on notify the following day that Trustee whether it is a Business Day with respect exercising its option to reset the Interest Rate or Spread or Spread Multiplier, as the case may be, for such Certificated Note, and no interest shall accrue on if so, (i) the amount payable at Maturity new Interest Rate or Spread or Spread Multiplier, as the case may be, for such Certificated Note during the period from such Optional Reset Date to the next Optional Reset Date as set forth in such 74 41 Certificated Note or, if there is no such next Optional Reset Date, to the Maturity Date of such Certificated Note (the "Subsequent Interest Period"); and after (ii) the provisions, if any, for redemption of such Certificated Note during such Subsequent Interest Period, including the date of Maturityor dates on which or the period or periods during which such redemption may occur during such Subsequent Interest Period.

Appears in 1 contract

Samples: Selling Agency Agreement (Sherwin Williams Co)

Payments of Principal and Interest. The Upon presentment and delivery of a Certificated Note, the Trustee will pay the principal amount of each Certificated Note at Maturity upon presentation of such Note to on the Trustee. Such paymentStated Maturity, together with payment Redemption Date or Optional Repayment Date, as the case may be, and the final installment of interest due at Maturity of such Note, will be made in funds immediately available for immediate use by the Holder of such Note. Certificated Notes presented to the Trustee at Maturity for payment will be cancelled by the Trustee in accordance with the terms of the Indenture and returned to the Issuerfunds. All interest payments on a Certificated Note (Note, other than interest due at on the Stated Maturity) , Redemption Date or Optional Repayment Date, as the case may be, will be made by check drawn on the Trustee (or another Person appointed by the Trustee) and mailed by the Trustee to the Person person entitled thereto as provided in such Note. Following each Regular Record Date However, holders of $10,000,000 or more in aggregate principal amount of Certificated Notes (or such other amount specified in an applicable Pricing Supplement) (whether having identical or different terms and Special Record Dateprovisions) shall be entitled to receive payments of interest, other than at maturity, by wire transfer of immediately available funds if appropriate wire transfer instructions have been received in writing by the Trustee will furnish not less than 16 days prior to the Issuer with a list applicable Interest Payment Date. Any payment of principal or interest payments required to be made on the following an Interest Payment Date for each or on the Stated Maturity, Redemption Date or Optional Repayment Date of a Certificated Note and which is not a Business Day need not be made on such day, but may be made on the next succeeding Business Day, (except that in total for all Certificated Notes. the case or a LIBOR Note, if such day falls in the next calendar month, such Interest at Maturity Payment Date will be payable the preceding day that is a Business Day with respect to such LIBOR Note) with the Person to whom same force and effect as if made on the payment of principal is payableInterest Payment Date, Stated Maturity, Redemption Date or Optional Repayment Date, as the case may be, and no interest shall accrue for the period from and after such Interest Payment Date, Stated Maturity, Redemption Date or Optional Repayment Date. The Trustee will provide monthly to the Issuer lists Company a list of the principal and interest to be paid on Certificated Notes maturing in the next succeeding month. The Trustee will be responsible for withholding taxes on interest paid on Certificated Notes as required by applicable law, but shall be relieved from any such responsibility if it acts in good faith and in reliance upon an opinion of counsel. On the first Business Day of each month, Certificated Notes presented to the Trustee on the Stated Maturity, Redemption Date or Optional Repayment Date for payment will deliver be cancelled by the Trustee. All such cancelled Notes held by the Trustee shall be destroyed, and the Trustee shall furnish to the Issuer by facsimile transmission Company a written statement, indicating the total principal amount of Outstanding Certificated Notes for which it serves as trustee as of the immediately preceding Business Day. If any Interest Payment Date for a Fixed Rate Certificated Note is scheduled to occur on a day that is not a Business Day certificate with respect to such Fixed Rate Certificated Note, the payment due on such Interest Payment Date will be made on the following day that is a Business Day with respect to such Fixed Rate Certificated Note, and no interest shall accrue on the amount payable on such Interest Payment Date for the period from and after such Interest Payment Date to such following day that is a Business Day. If any Interest Payment Date for a Floating Rate Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Floating Rate Certificated Note, such Interest Payment Date will be the following day that is a Business Day with respect to such Floating Rate Certificated Note; PROVIDED, HOWEVER, that in the case of a Floating Rate Certificated Note that is a LIBOR Note (or a Floating Rate Certificated Note for which LIBOR is the applicable Base Rate), if such Business Day is in the next succeeding calendar month, such Interest Payment Date will be the immediately preceding day that is a Business Day. If the date of Maturity of a Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Certificated Note, the payment due at Maturity will be made on the following day that is a Business Day with respect to such Certificated Note, and no interest shall accrue on the amount payable at Maturity for the period from and after the date of Maturitydestruction.

Appears in 1 contract

Samples: Distribution Agreement (Bear Stearns Companies Inc)

Payments of Principal and Interest. The Trustee will pay the principal amount of each Certificated Note at Maturity maturity or upon redemption or repayment upon presentation and surrender of such Note to the Trustee. Such payment, together with payment of interest due at Maturity maturity or upon redemption or repayment of such Note, will be made in funds available for immediate use by the Holder Trustee and in turn by the holder of such Note. Certificated Notes presented for payment to the Trustee at Maturity for payment maturity or upon redemption or repayment will be cancelled by the Trustee in accordance with the terms of the Indenture and returned delivered to the IssuerCompany with a certificate of cancellation. All interest payments on a Certificated Note (other than interest due at Maturitymaturity or upon redemption or repayment) will be made by check drawn on the Trustee (or another Person person appointed by the Trustee) and mailed by the Trustee to the Person person entitled thereto as provided in such NoteNote and the applicable Indenture; provided, however, that the holder of $5,000,000 or more of Notes having the same Interest Payment Date will be entitled to receive payment by wire transfer of immediately available funds. Following each Regular Record Date and Special Record Date, the Trustee will furnish the Issuer Company with a list of interest payments to be made on the following Interest Payment Date for each Certificated Note and in total for all Certificated Notes. Interest at Maturity maturity or upon redemption or repayment will be payable to the Person person to whom the payment of principal is payable. The Trustee will provide monthly to the Issuer Company lists of principal and interest interest, to the extent ascertainable, to be paid on Certificated Notes maturing or to be redeemed in the next month. The Trustee will be responsible for withholding taxes on interest paid on Certificated Notes as required by applicable law. On If any Interest Payment Date or the first Maturity Date or redemption or repayment date of a Fixed Rate Certificated Note is not a Business Day, the payment due on such day shall be made on the next succeeding Business Day of each monthand no interest on such payment for the period from and after such Interest Payment Date, Maturity Date or redemption or repayment date, as the Trustee will deliver to the Issuer by facsimile transmission a written statement, indicating the total principal amount of Outstanding Certificated Notes for which it serves as trustee as of the immediately preceding Business Daycase may be. If any Interest Payment Date or the Maturity Date or redemption or repayment date for a Fixed any Certificated Floating Rate Certificated Note is scheduled to occur would fall on a day that is not a Business Day with respect to such Fixed Rate Certificated Note, the payment due on such Interest Payment Date will be made on the following day that is a Business Day with respect to such Fixed Rate Certificated Note, and no interest shall accrue on the amount payable on such Interest Payment Date for the period from and after such Interest Payment Date to such following day that is a Business Day. If any Interest Payment Date for a Floating Rate Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Floating Rate Certificated Note, such Interest Payment Date, Maturity Date or redemption or repayment date will be the following day that is a Business Day with respect to such Floating Rate Certificated Note; PROVIDEDNote (and no interest shall accrue for the intervening period), HOWEVERexcept that, that in the case of a Floating Rate Certificated Note that is a LIBOR Note (or a Floating Rate Certificated Note for which LIBOR is the applicable Base Rate)Note, if such Business Day is in the next succeeding calendar month, such Interest Payment Date will shall be the immediately preceding day that is a Business Day. If the date of Maturity of a Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Certificated Note, the payment due at Maturity will be made on the following day that is a Business Day with respect to such Certificated LIBOR Note, and no interest shall accrue on the amount payable at Maturity for the period from and after the date of Maturity.

Appears in 1 contract

Samples: u.s. Distribution Agreement (General Electric Capital Corp)

Payments of Principal and Interest. The (a) Payments on Bonds issued as Book-Entry Bonds will be made by or on behalf of the Indenture Trustee to the Clearing Agency or its nominee. Any installment of interest or principal payable on any Definitive Bonds shall be paid to the Person in whose name such Bond (or one or more Predecessor Bonds) is registered at the close of business on the applicable Record Date for such Class and for such Payment Date by either (i) check mailed to such Person's address as it appears in the Bond Register on such Record Date, or (ii) by wire transfer of immediately available funds to the account of a Bondholder, if such Bondholder (A) is the registered holder of Definitive Bonds having an initial principal amount of at least $1,000,000 and (B) has provided the Indenture Trustee with wiring instructions in writing by five Business Days prior to the related Record Date or has provided the Indenture Trustee with such instructions for any previous Payment Date, except for the final installment of principal payable with respect to such Bond (or the Redemption Price for any Bond called for redemption, if such redemption will pay result in payment of the then entire unpaid principal amount of such Bond), which shall be payable as provided in subsection (b) below of this Section 2.08. A fee may be charged by the Indenture Trustee to a Bondholder of Definitive Bonds for any payment made by wire transfer. Any installment of interest or principal not punctually paid or duly provided for by the Issuer shall be payable as soon as funds are available to the Indenture Trustee for payment thereof, or if Section 5.07 applies, pursuant to Section 5.07. (b) All reductions in the principal amount of a Bond (or one or more Predecessor Bonds) effected by payments of installments of principal made on any Payment Date shall be binding upon all Holders of such Bond and of any Bond issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof, whether or not such payment is Bond on such Bond. The final installment of principal of each Certificated Note at Maturity Bond (including the Redemption Price of any Bond called for optional redemption, if such optional redemption will result in payment of the entire unpaid principal amount of such Bond) shall be payable only upon presentation and surrender thereof on or after the Payment Date therefor at the Indenture Trustee's presenting office located within the United States of America pursuant to Section 3.02. Whenever the Indenture Trustee expects that the entire remaining unpaid principal amount of any Bond will become due and payable on the next Payment Date other than pursuant to a redemption pursuant to Article X, it shall, no later than two days prior to such Note Payment Date, telecopy or hand deliver to each Person in whose name a Bond to be so retired is registered at the close of business on such otherwise applicable Record Date a notice to the Trustee. Such payment, together with payment of interest due at Maturity of effect that: (i) the Indenture Trustee expects that funds sufficient to pay such Note, final installment will be made available in the Distribution Account on such Payment Date; and (ii) if such funds available for immediate use by the Holder of are available, (A) such Note. Certificated Notes presented to the Trustee at Maturity for payment will be cancelled by the Trustee in accordance with the terms of the Indenture and returned to the Issuer. All interest payments on a Certificated Note (other than interest due at Maturity) will be made by check drawn on the Trustee (or another Person appointed by the Trustee) and mailed by the Trustee to the Person entitled thereto as provided in such Note. Following each Regular Record Date and Special Record Date, the Trustee will furnish the Issuer with a list of interest payments to be made on the following Interest Payment Date for each Certificated Note and in total for all Certificated Notes. Interest at Maturity final installment will be payable to on such Payment Date, but only upon presentation and surrender of such Bond at the Person to whom the payment of principal is payable. The Trustee will provide monthly to the Issuer lists of principal and interest to be paid on Certificated Notes maturing in the next month. The Trustee will be responsible for withholding taxes on interest paid on Certificated Notes as required by applicable law. On the first Business Day of each month, the Trustee will deliver to the Issuer by facsimile transmission a written statement, indicating the total principal amount of Outstanding Certificated Notes for which it serves as trustee as office or agency of the immediately preceding Business Day. If any Interest Payment Date Bond Registrar maintained for a Fixed Rate Certificated Note is scheduled such purpose pursuant to occur on a day that is not a Business Day with respect to Section 3.02 (the address of which shall be set forth in such Fixed Rate Certificated Note, the payment due on such Interest Payment Date will be made on the following day that is a Business Day with respect to such Fixed Rate Certificated Note, notice) and (B) no interest shall accrue on such Bond after such Payment Date. A copy of such form of notice shall be sent to the amount payable on Bond Insurer by the Indenture Trustee. Notices in connection with redemptions of Bonds shall be mailed to Bondholders in accordance with Section 10.02. (c) Subject to the foregoing provisions of this Section, each Bond delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Bond shall carry the rights to unpaid principal and interest that were carried by such Interest other Bond. Any checks mailed pursuant to subsection (a) of this Section 2.08 and returned undelivered shall be held in accordance with Section 3.03. (d) Each Payment Date for Statement, prepared by the period from Indenture Trustee based on the information delivered to the Indenture Trustee by the Master Servicer (based upon the underlying monthly reports of the Servicers), shall be made available by the Indenture Trustee to the Bond Insurer, the Rating Agencies, the Owner Trustee, the Underwriters and each Bondholder as the statement required pursuant to Section 8.06. Neither the Indenture Trustee nor the Paying Agent shall have any responsibility to recalculate, verify or recompute information contained in any such tape, electronic data file or disk or any such payment date statement delivered by the Servicers to the Master Servicer except to the extent necessary to satisfy all obligations under this Section 2.08(d). Within 90 days after the end of each calendar year, the Indenture Trustee will be required to furnish to each person who at any time during the calendar year was a Bondholder, if requested in writing by such Interest person, a statement containing the information set forth in subclauses (i) and (ii) of Payment Date to Statement, aggregated for such following day that is calendar year or the applicable portion thereof during which such person was a Business DayBondholder. If any Interest Payment Date for a Floating Rate Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Floating Rate Certificated Note, such Interest Payment Date Such obligation will be deemed to have been satisfied to the following day extent that substantially comparable information is a Business Day with respect provided pursuant to such Floating Rate Certificated Note; PROVIDED, HOWEVER, that any requirements of the Code as are from time to time in the case of a Floating Rate Certificated Note that is a LIBOR Note (or a Floating Rate Certificated Note for which LIBOR is the applicable Base Rate), if such Business Day is in the next succeeding calendar month, such Interest Payment Date will be the immediately preceding day that is a Business Day. If the date of Maturity of a Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Certificated Note, the payment due at Maturity will be made on the following day that is a Business Day with respect to such Certificated Note, and no interest shall accrue on the amount payable at Maturity for the period from and after the date of Maturityforce.

Appears in 1 contract

Samples: Indenture (American Residential Eagle Bond Trust 1992-2)

Payments of Principal and Interest. The Trustee will pay Interest (and principal, if any, payable other than at Stated Maturity or upon acceleration or redemption) shall be paid in immediately available funds to the principal amount Person in whose name a Security is registered at the close of business on the Regular Record Date next preceding each Certificated Note at Maturity upon presentation Interest Payment Date notwithstanding the cancellation of such Note Securities upon any transfer or exchange thereof subsequent to such Regular Record Date and prior to such Interest Payment Date; provided that interest payable at Stated Maturity or upon acceleration or redemption shall be paid to the TrusteePerson to whom principal will be payable; provided further, that if and to the extent APSA defaults in the payment of the interest, including any Additional Amounts, due on such Interest Payment Date, such defaulted interest, including any Additional Amounts, shall be paid to the Person in whose names such Securities are registered at the end of a subsequent record date established by APSA by notice given by mail by or on behalf of APSA to the Holders of the Securities not less than fifteen (15) days preceding such subsequent record date, such record date to be not less than fifteen (15) days preceding the date of payment in respect of such defaulted interest. Such paymentUnless otherwise specified in the resolutions of the Board of Directors or indenture supplemental hereto related to the Series of such Securities, together with the first payment of interest due on any Security originally issued between a Regular Record Date and an Interest Payment Date shall be made on the Interest Payment Date following the next succeeding Regular Record Date to the registered owner at Maturity the close of business on such next succeeding Regular Record Date. Unless otherwise specified in the resolutions of the Board of Directors or in an indenture supplemental hereto related to the Series of such NoteSecurities, the “Regular Record Date” with respect to any Security will be the date fifteen (15) calendar days prior to each Interest Payment Date, whether or not such date is a Business Day. Payments of the principal of and any premium, interest, Additional Amounts and other amounts on or in respect of any Security at Stated Maturity or upon acceleration or redemption shall be made to the registered Holder on such date in immediately available funds available for immediate use by the Holder upon surrender of such Note. Certificated Notes Security at the Corporate Trust Office or at the specified office of any other Paying Agent; provided that the Security is presented to the Trustee at Maturity Paying Agent in time for payment will be cancelled by the Trustee Paying Agent to make such payments in such funds in accordance with the terms its normal procedures. Payments of the Indenture principal of and returned any premium, interest, Additional Amounts and other amounts on or in respect of Securities to the Issuer. All interest payments on a Certificated Note (be made other than interest due at Maturity) will Stated Maturity or upon redemption shall be made by check drawn mailed on or before the Trustee (or another Person appointed by due date for such payments to the Trustee) and mailed by the Trustee to address of the Person entitled thereto as it appears in the Register; provided that (a) DTC and the Common Depositary, as Holders of the Global Securities, shall be entitled to receive payments of interest by wire transfer of immediately available funds, (b) a Holder of U.S. $1,000,000 (or the approximate equivalent thereof in a Specified Currency other than U.S. dollars) in aggregate principal or face amount of Securities of the same Series shall be entitled to receive payments of interest by wire transfer of immediately available funds to an account maintained by such Holder at a bank located in the United States as may have been appropriately designated by such Holder to the Trustee in writing no later than fifteen (15) days prior to the date such payment is due and (c) to the extent that the Holder of a Security issued and denominated in a Specified Currency other than U.S. dollars elects to receive payment of the principal of and any premiums, interest, Additional Amounts and other amounts on or in respect of such Security at Stated Maturity or upon redemption in such Note. Following each Regular Record Date and Special Record DateSpecified Currency, such payment, except in circumstances described in the Trustee will furnish resolutions of the Issuer with a list Board of interest payments Directors or in an indenture supplemental hereto related to the relevant Series, shall be made on the following Interest Payment Date for each Certificated Note and by wire transfer of immediately available funds to an account specified in total for all Certificated Notes. Interest at Maturity will be payable writing not less than fifteen (15) days prior to the Person to whom date such payment is due by the payment of principal is payable. The Trustee will provide monthly Holder to the Issuer lists of principal and interest to be paid on Certificated Notes maturing in the next monthTrustee. The Trustee will be responsible for withholding taxes on interest paid on Certificated Notes as required Unless such designation is revoked, any such designation made by applicable law. On the first Business Day of each month, the Trustee will deliver to the Issuer by facsimile transmission a written statement, indicating the total principal amount of Outstanding Certificated Notes for which it serves as trustee as of the immediately preceding Business Day. If any Interest Payment Date for a Fixed Rate Certificated Note is scheduled to occur on a day that is not a Business Day such Holder with respect to such Fixed Rate Certificated Note, the payment due on such Interest Payment Date will be made on the following day that is a Business Day Securities shall remain in effect with respect to any future payments with respect to such Fixed Securities payable to such Holder. If the principal of or any premium, interest, Additional Amounts or other amounts on any Security is payable in a Specified Currency other than U.S. dollars and such Specified Currency is not available due to the imposition of exchange controls or other circumstances beyond APSA’s control, or is no longer used by the government of the country issuing such currency or for settlement of transactions by public institutions of or within the international banking community, then APSA, until such currency is again available or so used, will be entitled, to the extent permitted by Argentine law, to satisfy its obligations to the Holder of such Securities by making such payment in U.S. dollars at the Exchange Rate Certificated Note, and no interest shall accrue for such Specified Currency on the amount payable Payment Date. The making of any payment in respect of any Security in U.S. dollars under the foregoing circumstances will not constitute an Event of Default under such Security. If so specified in the resolutions of the Board of Directors or indenture supplemental hereto related to a Series of Securities denominated in a Specified Currency other than U.S. dollars, payments of principal, interest, Additional Amounts or other amounts on or in respect of any such Interest Payment Date Security shall, to the extent permitted by applicable law, be made in U.S. dollars, calculated at the Exchange Rate for the period from Payment Date, if the Holder of such Security on the relevant Regular Record Date or at Stated Maturity, as the case may be, has transmitted a written request for such payment in U.S. dollars to the Trustee and after such Interest Payment Date the applicable Paying Agent on or prior to such following day Regular Record Date or the date that is a Business Dayfifteen (15) days prior to the Stated Maturity, as the case may be. If any Interest Payment Date for a Floating Rate Certificated Note is scheduled to occur on a day that is not a Business Day Such request may be in writing (mailed or hand delivered) or by facsimile transmission. Any such request made with respect to such Floating Rate Certificated Note, such Interest Payment Date any Security by a Holder will be the following day that is a Business Day remain in effect with respect to any further payments of principal, interest, Additional Amounts or other amounts on or in respect of such Floating Security payable to such Holder, unless such request is revoked on or prior to the relevant Regular Record Date or the date that is fifteen (15) days prior to the Stated Maturity, as the case may be. The U.S. dollar amount to be received by a Holder of a Security denominated in a Specified Currency other than U.S. dollars who elects to receive payment in U.S. dollars will be based on the Exchange Rate, on the second (2nd) Business Day next preceding the applicable Payment Date. If Exchange Rate Certificated Note; PROVIDEDquotations are not available on the second (2nd) Business Day preceding the applicable Payment Date, HOWEVER, that such payment will be made in the case Specified Currency. All currency exchange costs associated with any payment in U.S. dollars on any Security denominated in a Specified Currency other that U.S. dollars will be borne by the Holder thereof by deductions from payment of the currency exchange being effected on behalf of the Holder by the Exchange Rate Agent. Unless otherwise specified in the terms of a Floating Rate Certificated Note that is Series of Securities, Securities denominated in a LIBOR Note (or a Floating Rate Certificated Note for which LIBOR is the applicable Base Rate)Specified Currency other than U.S. dollars will provide that, if such Business Day is in the next succeeding calendar monthevent of an official redenomination of the currency, such Interest Payment Date will be the immediately preceding day that is a Business Day. If the date obligations of Maturity of a Certificated Note is scheduled to occur on a day that is not a Business Day APSA with respect to payments on such Certificated NoteSecurities shall, in all cases, be deemed immediately following such redenomination to provide for payment of that amount of the payment due at Maturity will be made on the following day that is a Business Day with respect to such Certificated Note, and no interest shall accrue on redenominated currency representing the amount payable at Maturity for the period from and after the date of Maturitysuch obligations immediately before such redenomination.

Appears in 1 contract

Samples: Indenture (Alto Palermo Sa Apsa)

Payments of Principal and Interest. The Trustee Borrower shall pay on the first calendar day of each month commencing on the First Project Loan Payment Date, interest at the Interest Rate on the outstanding principal balance of this Project Note, and shall also pay interest on this Project Note at the Interest Rate in the event of an optional or mandatory prepayment or acceleration of all or a part of the Project Loan pursuant to this Project Note or the Project Loan Agreement, in an amount equal to the accrued and unpaid interest to the date of prepayment on the portion of this Project Note subject to prepayment (each such date for payment a “Project Loan Payment Date”). Interest under this Project Note will be computed, payable and allocated on the basis of a 360-day year [consisting of twelve 30-day months][and the actual number of days elapsed]. Borrower shall pay the outstanding principal of this Project Note in full on the Scheduled Maturity Date and in monthly installments on each date set forth on the Project Loan Amortization Schedule attached as Schedule 1 to this Project Note in an amount equal to the corresponding amounts set forth thereon, or at such earlier times and in such amounts as may be required in the event of each Certificated an optional or mandatory prepayment or acceleration of the Project Loan pursuant to this Project Note or the Project Loan Agreement. In addition to the foregoing, Borrower shall make payments hereunder in respect of the Project Loan at Maturity such times and in such amounts as are sufficient to pay, when due (whether at stated maturity, upon presentation prepayment before maturity, upon acceleration of stated maturity or otherwise), the principal of and premium, if any, and interest on the Funding Loan at any time outstanding. To ensure timely payment, Servicer shall collect from Borrower, and Borrower shall provide to Servicer, the foregoing payments two (2) Business Days prior to the respective Project Loan Payment Date; provided, unless the Closing Date is the first day of a calendar month, the Servicer shall collect from Borrower and Borrower shall provide to Servicer on the Closing Date, interest for the period beginning on the Closing Date and ending on and including the last day of such Note to the Trusteecalendar month. Such payment, together with payment of interest due at Maturity of such Note, will be made in funds available for immediate use by the Holder of such Note. Certificated Notes presented to the Trustee at Maturity for payment will be cancelled by the Trustee in accordance with the terms of the Indenture and returned to the Issuer. All interest payments on a Certificated Note (other than interest due at Maturity) will be made by check drawn on the Trustee (or another Person appointed by the Trustee) and mailed by the Trustee to the Person entitled thereto Except as provided in such Note. Following each Regular Record Date and Special Record Date, the Trustee will furnish the Issuer with a list of interest payments to be made on the following Interest Payment Date for each Certificated Note this paragraph and in total for all Certificated Notes. Interest at Maturity Section 10, accrued interest will be payable to the Person to whom the payment of principal is payablein arrears. The Trustee will provide Any regularly scheduled monthly to the Issuer lists installment of principal and interest payable pursuant to be paid this Section 2 that is received by Holder before the date on Certificated Notes maturing in the next month. The Trustee which it is due will be responsible for withholding taxes on interest paid on Certificated Notes as required by applicable law. On the first Business Day of each month, the Trustee will deliver deemed to the Issuer by facsimile transmission a written statement, indicating the total principal amount of Outstanding Certificated Notes for which it serves as trustee as of the immediately preceding Business Day. If any Interest Payment Date for a Fixed Rate Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Fixed Rate Certificated Note, the payment due on such Interest Payment Date will be made have been received on the following day that is a Business Day with respect to such Fixed Rate Certificated Note, and no interest shall accrue on the amount payable on such Interest Payment Date due date for the period from and after such Interest Payment Date to such following day that is a Business Day. If any Interest Payment Date for a Floating Rate Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Floating Rate Certificated Note, such Interest Payment Date will be the following day that is a Business Day with respect to such Floating Rate Certificated Note; PROVIDED, HOWEVER, that in the case purpose of a Floating Rate Certificated Note that is a LIBOR Note (or a Floating Rate Certificated Note for which LIBOR is the applicable Base Rate), if such Business Day is in the next succeeding calendar month, such Interest Payment Date will be the immediately preceding day that is a Business Day. If the date of Maturity of a Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Certificated Note, the payment due at Maturity will be made on the following day that is a Business Day with respect to such Certificated Note, and no calculating interest shall accrue on the amount payable at Maturity for the period from and after the date of Maturitydue.

Appears in 1 contract

Samples: Project Note

Payments of Principal and Interest. The Trustee will pay the principal amount of each Certificated Note at Maturity upon presentation of such Note to the Trustee. Such payment, together with payment of interest due at Maturity of such Note, will be made in funds available for immediate use by the Holder of such Note. Certificated (a) Payments on Notes presented to the Trustee at Maturity for payment will be cancelled by the Trustee in accordance with the terms of the Indenture and returned to the Issuer. All interest payments on a Certificated Note (other than interest due at Maturity) issued as Book-Entry Notes will be made by check drawn or on behalf of the Trustee (or another Person appointed by the Trustee) and mailed by the Indenture Trustee to the Clearing Agency or its nominee. Any installment of interest or principal payable on any Definitive Notes that is punctually paid or duly provided for by the Trust on the applicable Payment Date shall be paid to the Person entitled thereto as provided in whose name such Note. Following each Regular Note (or one or more Predecessor Notes) is registered at the close of business on the Record Date for such Class of Notes and Special such Payment Date by either (i) wire transfer of immediately available funds to the account of a Noteholder, if such Noteholder has provided the Indenture Trustee with wiring instructions in writing by five (5) Business Days prior to the related Record Date or has provided the Indenture Trustee with such instructions for any previous Payment Date or (ii) check mailed to such Person’s address as it appears in the Note Register on such Record Date, except for the Trustee will furnish the Issuer with a list of interest payments to be made on the following Interest Payment Date for each Certificated Note and in total for all Certificated Notes. Interest at Maturity will be payable to the Person to whom the payment final installment of principal is payable. The Trustee will provide monthly to the Issuer lists of principal and interest to be paid on Certificated Notes maturing in the next month. The Trustee will be responsible for withholding taxes on interest paid on Certificated Notes as required by applicable law. On the first Business Day of each month, the Trustee will deliver to the Issuer by facsimile transmission a written statement, indicating the total principal amount of Outstanding Certificated Notes for which it serves as trustee as of the immediately preceding Business Day. If any Interest Payment Date for a Fixed Rate Certificated Note is scheduled to occur on a day that is not a Business Day payable with respect to such Fixed Rate Certificated Note, which shall be payable as provided in subsection (b) of this Section 2.08. A fee may be charged by the Indenture Trustee to a Holder of Definitive Notes for any payment due made by wire transfer. Any installment of interest or principal not punctually paid or duly provided for shall be payable as soon as funds are available to the Indenture Trustee for payment thereof, or if Section 5.07 applies, pursuant to Section 5.07. Payments on such Interest Payment Date Certificates will be made by or on behalf of the Indenture Trustee to or at the direction of the Person in whose name such Certificate is registered by either (i) wire transfer of immediately available funds to the account directed by a Certificateholder, if such Certificateholder (A) is Accredited Home Lenders, Inc. or its affiliate and (B) has provided the Indenture Trustee with wiring instructions in writing by five (5) Business Days prior to the related payment Date or has provided the Indenture Trustee with such instructions for any previous Payment Date or (ii) check mailed to such Person’s address as it appears in the Certificate Register on such Record Date. A fee may be charged by the Indenture Trustee to a Certificateholder for any payment made by wire transfer. The Indenture Trustee shall be entitled to rely on information provided by the Owner Trustee as Certificate Registrar as to all matters related to the Certificate Registrar and the Certificates. (b) All reductions in the Note Principal Balance of a Note (or one or more Predecessor Notes) effected by payments of installments of principal made on any Payment Date shall be binding upon all Holders of such Note and of any Note issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof, whether or not such payment is noted on such Note. The final installment of principal of each Note shall be payable only upon presentation and surrender thereof on or after the Payment Date therefor at the designated office of the Indenture Trustee located within the United States of America pursuant to Section 3.02. Whenever the Indenture Trustee expects that the entire unpaid Note Principal Balance of any Note will become due and payable on the following day that is next Payment Date, other than pursuant to a redemption pursuant to Article X, it shall, no later than two (2) Business Day with respect Days prior to such Fixed Rate Certificated NotePayment Date, mail to each Person in whose name a Note to be so retired is registered at the close of business on such otherwise applicable Record Date a notice to the effect that: (i) the Indenture Trustee expects that funds sufficient to pay such final installment will be available in the Payment Account on such Payment Date; and (ii) if such funds are available, (a) such final installment will be payable on such Payment Date, but only upon presentation and surrender of such Note at the office or agency of the Note Registrar maintained for such purpose pursuant to Section 3.02 (the address of which shall be set forth in such notice) and (b) no interest shall accrue on such Note after such Payment Date. Notices in connection with redemptions of Notes shall be mailed to Noteholders in accordance with Section 10.02 hereof. (c) Subject to the foregoing provisions of this Section 2.08, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to unpaid principal and interest that were carried by such other Note. Any checks mailed pursuant to paragraph (a) of this Section 2.08 and returned undelivered shall be held in accordance with Section 3.03 hereof. (d) The Indenture Trustee’s Remittance Report, shall be prepared by the Indenture Trustee based on the loan level data provided in the Servicer Remittance Report delivered to the Indenture Trustee pursuant to the Sale and Servicing Agreement. The Indenture Trustee shall not have any responsibility to recalculate, verify or recompute information contained in any tape, electronic data file or disk or Servicer Remittance Report delivered to the Indenture Trustee pursuant to the Sale and Servicing Agreement except to the extent necessary to satisfy all obligations under this Section 2.08(d). Within thirty (30) days after the end of each calendar year, the Indenture Trustee will be required to furnish to each Person who at any time during the calendar year was a Noteholder, if requested in writing by such person, a statement containing the information set forth in subclauses (a), (b) and (c) in the definition of “Indenture Trustee’s Remittance Report,” aggregated for such calendar year. Such obligation will be deemed to have been satisfied to the extent that substantially comparable information is provided pursuant to any requirements of the Code as are from time to time in force. From time to time (but no more than once per calendar month), upon the written request of the Seller, the Sponsor, the Master Servicer or the Backup Servicer, the Indenture Trustee shall report to the Seller, the Sponsor, the Master Servicer and the Backup Servicer the amount payable on such Interest Payment Date for then held in each Account (including investment earnings accrued) held by the period from Indenture Trustee and after such Interest Payment Date to such following day that is a Business Day. If any Interest Payment Date for a Floating Rate Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Floating Rate Certificated Note, such Interest Payment Date will be the following day that is a Business Day with respect to such Floating Rate Certificated Note; PROVIDED, HOWEVER, that in identity of the case of a Floating Rate Certificated Note that is a LIBOR Note (or a Floating Rate Certificated Note for which LIBOR is the applicable Base Rate), if such Business Day is in the next succeeding calendar month, such Interest Payment Date will be the immediately preceding day that is a Business Day. If the date of Maturity of a Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Certificated Note, the payment due at Maturity will be made on the following day that is a Business Day with respect to such Certificated Note, and no interest shall accrue on the amount payable at Maturity for the period from and after the date of Maturityinvestments included therein.

Appears in 1 contract

Samples: Indenture (Accredited Mortgage Loan Trust 2004-3)

Payments of Principal and Interest. The Trustee will pay the principal amount of each Certificated Note at Maturity upon presentation of such Note to the Trustee. Interest: Such payment, together with payment of interest due at Maturity of such Note, will be made in funds available for immediate use by the Holder of such Note. Certificated Notes presented to the Trustee at Maturity for payment will be cancelled by the Trustee in accordance with the terms of the Indenture and returned to the Issuer. All interest payments on a Certificated Note (other than interest due at Maturity) will be made by check drawn on the Trustee (or another Person appointed by the Trustee) and mailed by the Trustee to the Person entitled thereto as provided in such Note. Following each Regular Record Date and Special Record Date, the Trustee will furnish the Issuer with a list of interest payments to be made on the following Interest Payment Date for each Certificated Note and in total for all Certificated Notes. Interest at Maturity will be payable to the Person to whom the payment of principal is payable. The Trustee will provide monthly to the Issuer lists of principal and interest to be paid on Certificated Notes maturing in the next month. The Trustee will be responsible for withholding taxes on interest paid on Certificated Notes as required by applicable law. On the first Business Day of each month, the Trustee will deliver to the Issuer by facsimile transmission a written statement, indicating the total principal amount of Outstanding Certificated Notes for which it serves as trustee as of the immediately preceding Business Day. If any Interest Payment Date for a Fixed Rate Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Fixed Rate Certificated Note, the payment due on such Interest Payment Date will be made on the following day that is a Business Day with respect to such Fixed Rate Certificated Note, and no interest shall accrue on the amount payable on such Interest Payment Date for the period from and after such Interest Payment Date to such following day that is a Business Day. If any Interest Payment Date for a Floating Rate Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Floating Rate Certificated Note, such Interest Payment Date will be the following day that is a Business Day with respect to such Floating Rate Certificated Note; PROVIDED, HOWEVER, that in the case of a Floating Rate Certificated Note that is a LIBOR Note (or a Floating Rate Certificated Note for which LIBOR is the applicable Base Rate), if such Business Day is in the next succeeding calendar month, such Interest Payment Date will be the immediately preceding day that is a Business Day. If the date of Maturity of a Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Certificated Note, the payment due at Maturity will be made on the following day that is a Business Day with respect to such Certificated Note, and no interest shall accrue on the amount payable at Maturity for the period from and after the date of Maturity.

Appears in 1 contract

Samples: Distribution Agreement (Walt Disney Co/)

Payments of Principal and Interest. The Trustee will pay the principal amount of each Certificated Note at Maturity upon presentation of such Note to the TrusteePAYMENTS OF INTEREST ONLY. Such payment, together with payment of interest due at Maturity of such Note, will be made in funds available for immediate use by the Holder of such Note. Certificated Notes presented to the Trustee at Maturity for payment will be cancelled by the Trustee in accordance with the terms of the Indenture and returned to the Issuer. All interest payments on a Certificated Note (other than interest due at Maturity) will be made by check drawn on the Trustee (or another Person appointed by the Trustee) and mailed by the Trustee to the Person entitled thereto as provided in such Note. Following Promptly after each Regular Record Date and Special Record Date, the Trustee will furnish the Issuer with a list of interest payments to be made on the following Interest Payment Date for each Certificated Note and in total for all Certificated Notes. Interest at Maturity will be payable to the Person to whom the payment of principal is payable. The Trustee will provide monthly to the Issuer lists of principal and interest to be paid on Certificated Notes maturing in the next month. The Trustee will be responsible for withholding taxes on interest paid on Certificated Notes as required by applicable law. On the first Business Day of each month, the Trustee will deliver to the Issuer by facsimile transmission and DTC a written statement, indicating notice specifying by CUSIP number the amount of interest to be paid on each Global Security on the following Interest Payment Date (other than an Interest Payment Date coinciding with Stated Maturity) and the total principal of such amounts. DTC will check the amount payable on each Global Security on such Interest Payment Date as shown in the appropriate weekly supplements to the Corporate Registered Bond Interest Record published by Standard & Poor's Corporation. On such Interest Payment Date, the Issuer will pay to the Trustee the total amount of Outstanding Certificated Notes for which it serves as trustee as interest due on such Interest Payment Date (other than at Stated Maturity), and the Trustee will pay such amount to DTC at the times and in the manner set forth below under "Manner of the immediately preceding Business Day. Payment." If any Interest Payment Date for a Fixed Rate Certificated Book-Entry Note is scheduled to occur on a day that is not a Business Day with respect to such Fixed Rate Certificated Book-Entry Note, the payment due on such Interest Payment Date will be made on the following day that is a Business Day with respect to such Fixed Rate Certificated Book-Entry Note, and no interest shall accrue on the amount payable on such Interest Payment Date for the period from and after such Interest Payment Date to such following day that is a Business Day. If any Interest Payment Date for a Floating Rate Certificated Book-Entry Note is scheduled to occur on a day that is not a Business Day with respect to such Floating Rate Certificated Book-Entry Note, the payment due on such Interest Payment Date will be made on the following day that is a Business Day with respect to such Floating Rate Certificated Book-Entry Note; PROVIDED, HOWEVERand no interest shall accrue on the amount payable on such Interest Payment Date for the period from and after such Interest Payment Date to such following day that is a Business Day, except that in the case of a Floating Rate Certificated Book-Entry Note that is a LIBOR Note or a EURIBOR Note (or a Floating Rate Certificated Book-Entry Note for C-7 which LIBOR or EURIBOR is the applicable Base Rate), if such Business Day is in the next succeeding calendar month, the payment due on such Interest Payment Date will be made on the immediately preceding day that is a Business Day. If the date of Maturity of a Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Certificated Note, the payment due at Maturity will be made on the following day that is a Business Day with respect to such Certificated Note, and no interest shall accrue on the amount payable at Maturity for the period from and after the date of Maturity.

Appears in 1 contract

Samples: Distribution Agreement (Walt Disney Co/)

Payments of Principal and Interest. The Upon presentment and delivery of a Certificated Note, the Trustee will pay the principal amount of each Certificated Note at Maturity upon presentation of such Note to on the Trustee. Such paymentStated Maturity, together with payment Redemption Date or Optional Repayment Date, as the case may be, and the final installment of interest due at Maturity of such Note, will be made in funds immediately available for immediate use by the Holder of such Note. Certificated Notes presented to the Trustee at Maturity for payment will be cancelled by the Trustee in accordance with the terms of the Indenture and returned to the Issuerfunds. All interest payments on a Certificated Note (Note, other than interest due at on the Stated Maturity) , Redemption Date or Optional Repayment Date, as the case may be, will be made by check drawn on the Trustee (or another Person appointed by the Trustee) and mailed by the Trustee to the Person person entitled thereto as provided in such Note. Following each Regular Record Date However, holders of $10,000,000 or more in aggregate principal amount of Certificated Notes (or such other amount specified in an applicable Pricing Supplement) (whether having identical or different terms and Special Record Dateprovisions) shall be entitled to receive payments of interest, other than at maturity, by wire transfer of immediately available funds if appropriate wire transfer instructions have been received in writing by the Trustee will furnish not less than 16 days prior to the Issuer with a list applicable Interest Payment Date. Any payment of principal or interest payments required to be made on the following an Interest Payment Date for each or on the Stated Maturity, Redemption Date or Optional Repayment Date of a Certificated Note and which is not a Business Day need not be made on such day, but may be made on the next succeeding Business Day, (except that in total for all Certificated Notes. the case or a LIBOR Note, if such day falls in the next calendar month, such Interest at Maturity Payment Date will be payable the preceding day that is a Business Day with respect to such LIBOR Note) with the Person to whom same force and effect as if made on the payment of principal is payableInterest Payment Date, Stated Maturity, Redemption Date or Optional Repayment Date, as the case may be, and no interest shall accrue for the period from and after such Interest Payment Date, Stated Maturity, Redemption Date or Optional Repayment Date. The Trustee will provide monthly to the Issuer lists Company, upon request of the Company, a list of the principal and interest to be paid on Certificated Notes maturing in the next succeeding month. The Trustee will be responsible for withholding taxes on interest paid on Certificated Notes as required by applicable law, but shall be relieved from any such responsibility if it acts in good faith and in reliance upon an opinion of counsel. On the first Business Day of each month, Certificated Notes presented to the Trustee will deliver to on the Issuer by facsimile transmission a written statementStated Maturity, indicating the total principal amount of Outstanding Certificated Notes for which it serves as trustee as of the immediately preceding Business Day. If any Interest Payment Redemption Date or Optional Repayment Date for a Fixed Rate Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Fixed Rate Certificated Note, the payment due on such Interest Payment Date will be made on cancelled by the following day that is a Business Day with respect to Trustee. All such Fixed Rate Certificated Note, and no interest cancelled Notes held by the Trustee shall accrue on the amount payable on such Interest Payment Date for the period from and after such Interest Payment Date to such following day that is a Business Day. If any Interest Payment Date for a Floating Rate Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Floating Rate Certificated Note, such Interest Payment Date will be the following day that is a Business Day with respect to such Floating Rate Certificated Note; PROVIDED, HOWEVER, that in the case of a Floating Rate Certificated Note that is a LIBOR Note (or a Floating Rate Certificated Note for which LIBOR is the applicable Base Rate), if such Business Day is in the next succeeding calendar month, such Interest Payment Date will be the immediately preceding day that is a Business Day. If the date of Maturity of a Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Certificated Note, the payment due at Maturity will be made on the following day that is a Business Day with respect to such Certificated Note, and no interest shall accrue on the amount payable at Maturity for the period from and after the date of Maturitydestroyed.

Appears in 1 contract

Samples: Distribution Agreement (Bear Stearns Companies Inc)

Payments of Principal and Interest. For value received, the Borrower promises to pay to the order of the Lender the aggregate principal amount outstanding (the “Outstanding Loan Amount”), together with all accrued and unpaid interest hereunder on or before December 31, 2022, pursuant to this Loan Agreement and Note. Interest on the Outstanding Loan Amount shall accrue at the rate of 0.4% per annum and shall be payable annually in arrears on each anniversary of the effective date of this Loan Agreement and Note (each such date, an “Interest Payment Date”). The Trustee will Borrower shall pay interest on this Loan Agreement and Note, at the election of the Borrower on each Interest Payment Date (a) by increasing the outstanding principal amount of each Certificated this Note at Maturity upon presentation of such Note (“PIK Interest”), (b) in cash to the TrusteeLender (“Cash Interest”) or (c) by any combination of (a) and (b), in an aggregate amount equal to the accrued and unpaid interest on the Outstanding Loan Amount on such date. Such payment, together with payment of Any interest due at Maturity of such Note, will be made in funds available for immediate use by the Holder of such Note. Certificated Notes presented to the Trustee at Maturity for payment will be cancelled by the Trustee in accordance with the terms of the Indenture and returned to the Issuer. All interest payments on a Certificated Note (other than interest due at Maturity) will be made by check drawn on the Trustee (or another Person appointed by the Trustee) and mailed by the Trustee to the Person entitled thereto as provided in such Note. Following each Regular Record Date and Special Record Date, the Trustee will furnish the Issuer with a list of interest payments to be made on the following an Interest Payment Date for each Certificated Note and in total for all Certificated Notes. Interest at Maturity will be payable to the Person to whom the payment of principal is payable. The Trustee will provide monthly to the Issuer lists of principal and interest to be paid on Certificated Notes maturing in the next month. The Trustee will be responsible for withholding taxes on interest paid on Certificated Notes as required by applicable law. On the first Business Day of each month, the Trustee will deliver to the Issuer by facsimile transmission a written statement, indicating the total principal amount of Outstanding Certificated Notes for which it serves as trustee as of the immediately preceding Business Day. If any Interest Payment Date for a Fixed Rate Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Fixed Rate Certificated Note, paid by the payment due Borrower as Cash Interest on such Interest Payment Date will shall be made deemed paid as PIK Interest with no further action required on the following day that is part of the Borrower. Following an increase in the Outstanding Loan Amount as a Business Day with respect to such Fixed Rate Certificated Noteresult of PIK Interest, this Loan Agreement and no Note shall bear interest shall accrue on the amount payable on such Interest Payment Date for the period from and after such Interest Payment Date to such following day that is a Business Day. If any Interest Payment Date for a Floating Rate Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Floating Rate Certificated Note, such Interest Payment Date will be the following day that is a Business Day with respect to such Floating Rate Certificated Note; PROVIDED, HOWEVER, that in the case of a Floating Rate Certificated Note that is a LIBOR Note (or a Floating Rate Certificated Note for which LIBOR is the applicable Base Rate), if such Business Day is in the next succeeding calendar month, such Interest Payment Date will be the immediately preceding day that is a Business Day. If the date of Maturity of a Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Certificated Note, the payment due at Maturity will be made on the following day that is a Business Day with respect to such Certificated Note, and no interest shall accrue on the amount payable at Maturity for the period increased Outstanding Loan Amount from and after the date of Maturitysuch Interest Payment Date. The amount of interest payable hereunder shall be calculated by reference to the actual number of days elapsed on the basis of a 365-day year. Any payment of interest due and payable on an Interest Payment Date that is not a business day shall be due and payable on the first business day occurring after such Interest Payment Date and interest shall continue to accrue on the principal amount of this Loan Agreement and Note until, and shall be due and payable on, such business day. All cash payments of principal and interest hereunder shall be made in the lawful money of the United States. Any and all payments made hereunder shall be first applied to any accrued and unpaid interest and the balance shall be applied to the Outstanding Loan Amount. The Outstanding Loan Amount may be prepaid at any time in whole or in part without premium or penalty provided that all accrued and unpaid interest hereunder is paid in full.

Appears in 1 contract

Samples: Loan Agreement (Montauk Renewables, Inc.)

Payments of Principal and Interest. The (a) Payments on Bonds issued as Book-Entry Bonds will be made by or on behalf of the Indenture Trustee to the Clearing Agency or its nominee. Any installment of interest or principal payable on any Definitive Bonds that is punctually paid or duly provided for by the Issuer on the applicable Payment Date shall be paid to the Person in whose name such Bond (or one or more Predecessor Bonds) is registered at the close of business on the Record Date for such Payment Date by either (i) check mailed to such Person's address as it appears in the Bond Register on such Record Date, or (ii) by wire transfer of immediately available funds to the account of a Bondholder, if such Bondholder (A) is the registered holder of Definitive Bonds having an initial principal amount of at least $1,000,000 and (B) has provided the Indenture Trustee with wiring instructions in writing by five Business Days prior to the related Record Date or has provided the Indenture Trustee with such instructions for any previous Payment Date, except for the final installment of principal payable with respect to such Bond (or the Redemption Price for any Bond called for redemption, if such redemption will pay result in payment of the then entire unpaid principal amount of such Bond), which shall be payable as provided in subsection (b) below of this Section 2.08. A fee may be charged by the Indenture Trustee to a Bondholder of Definitive Bonds for any payment made by wire transfer. Any installment of interest or principal not punctually paid or duly provided for shall be payable as soon as funds are available to the Indenture Trustee for payment thereof, or if Section 5.07 applies, pursuant to Section 5.07. (b) All reductions in the principal amount of a Bond (or one or more Predecessor Bonds) effected by payments of installments of principal made on any Payment Date shall be binding upon all Holders of such Bond and of any Bond issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof, whether or not such payment is noted on such Bond. The final installment of principal of each Certificated Note at Maturity Bond (including the Redemption Price of any Bond called for optional redemption, if such optional redemption will result in payment of the entire unpaid principal amount of such Bond) shall be payable only upon presentation and surrender thereof on or after the Payment Date therefor at the Indenture Trustee's presenting office in the Borough of Manhattan, the City of New York, State of New York, pursuant to Section 3.02. Whenever the Indenture Trustee expects that the entire remaining unpaid principal amount of any Bond will become due and payable on the next Payment Date other than pursuant to a redemption pursuant to Section 10.02, it shall, no later than two days prior to such Note Payment Date, telecopy or hand deliver to each Person in whose name a Bond to be so retired is registered at the close of business on such otherwise applicable Record Date a notice to the Trustee. Such payment, together with payment of interest due at Maturity of effect that: (i) the Indenture Trustee expects that funds sufficient to pay such Note, final installment will be made available in the Bond Account on such Payment Date; and (ii) if such funds available for immediate use by the Holder of are available, (A) such Note. Certificated Notes presented to the Trustee at Maturity for payment will be cancelled by the Trustee in accordance with the terms of the Indenture and returned to the Issuer. All interest payments on a Certificated Note (other than interest due at Maturity) will be made by check drawn on the Trustee (or another Person appointed by the Trustee) and mailed by the Trustee to the Person entitled thereto as provided in such Note. Following each Regular Record Date and Special Record Date, the Trustee will furnish the Issuer with a list of interest payments to be made on the following Interest Payment Date for each Certificated Note and in total for all Certificated Notes. Interest at Maturity final installment will be payable to on such Payment Date, but only upon presentation and surrender of such Bond at the Person to whom the payment of principal is payable. The Trustee will provide monthly to the Issuer lists of principal and interest to be paid on Certificated Notes maturing in the next month. The Trustee will be responsible for withholding taxes on interest paid on Certificated Notes as required by applicable law. On the first Business Day of each month, the Trustee will deliver to the Issuer by facsimile transmission a written statement, indicating the total principal amount of Outstanding Certificated Notes for which it serves as trustee as office or agency of the immediately preceding Business Day. If any Interest Payment Date Bond Registrar maintained for a Fixed Rate Certificated Note is scheduled such purpose pursuant to occur on a day that is not a Business Day with respect to Section 3.02 (the address of which shall be set forth in such Fixed Rate Certificated Note, the payment due on such Interest Payment Date will be made on the following day that is a Business Day with respect to such Fixed Rate Certificated Note, notice) and (B) no interest shall accrue on such Bond after such Payment Date. A copy of such form of notice shall be sent to the amount payable on Bond Insurer by the Indenture Trustee. Notices in connection with redemptions of Bonds shall be mailed to Bondholders in accordance with Section 10.02. (c) Subject to the foregoing provisions of this Section, each Bond delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Bond shall carry the rights to unpaid principal and interest that were carried by such Interest other Bond. Any checks mailed pursuant to subsection (a) of this Section 2.08 and returned undelivered shall be held in accordance with Section 3.03. (d) Each Payment Date for Statement, prepared by the period from and after such Interest Payment Date Paying Agent based on the Servicer Remittance Report delivered to such following day that is a Business Day. If any Interest Payment Date for a Floating Rate Certificated Note is scheduled the Paying Agent pursuant to occur on a day that is not a Business Day with respect the Servicing Agreement shall be delivered by the Paying Agent to such Floating Rate Certificated Note, such Interest Payment Date will be the following day that is a Business Day with respect to such Floating Rate Certificated Note; PROVIDED, HOWEVER, that in the case of a Floating Rate Certificated Note that is a LIBOR Note (or a Floating Rate Certificated Note for which LIBOR is the applicable Base Rate), if such Business Day is in the next succeeding calendar month, such Interest Payment Date will be the immediately preceding day that is a Business Day. If the date of Maturity of a Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Certificated NoteBond Insurer, the payment due at Maturity will be made on Rating Agencies, the following day that is a Business Day with respect Owner Trustee and each Bondholder as the statement required pursuant to such Certificated Note, and no interest shall accrue on the amount payable at Maturity for the period from and after the date of MaturitySection 8.

Appears in 1 contract

Samples: Indenture (Aames Capital Acceptance Corp)

Payments of Principal and Interest. The Trustee or Paying Agent, as the case may be, will pay the principal amount of each Certificated Note at Maturity upon presentation of such Certificated Note to the TrusteeTrustee or Paying Agent, as the case may be. Such payment, together with payment of interest due at Maturity of such Certificated Note, will be made in funds available for immediate use by the Trustee or Paying Agent, as the case may be, and in turn by the Holder of such Certificated Note. Certificated Notes presented to the Trustee or Paying Agent, as the case may be, at Maturity for payment will be cancelled canceled by the Trustee in accordance with the terms of the Indenture and returned to the IssuerIndenture. All interest payments on a Certificated Note (other than interest due at Maturity) will be made by check drawn on the Trustee (Trustee, the Paying Agent, as the case may be, or another Person appointed by the Trustee) and , mailed by the Trustee to the Person entitled thereto as provided in such NoteNote and the Indenture; provided, however, that the holder of $10,000,000 or more of the Certificated Notes with similar tenor and terms will be entitled to receive payment by wire transfer in U.S. dollars, but only if the Trustee, or the Paying Agent, as the case may be, shall have received appropriate payment instructions in writing fifteen calendar days prior to any Interest Payment Date or payment of principal due at Maturity. Following Within 10 days after each Regular Record Date and Special Record Date, the Trustee will furnish the Issuer Company with a list of interest payments to be made on the following Interest Payment Date for each Certificated Note and in total for all Certificated Notes. Interest at Maturity will be payable to the Person to whom the payment of principal is payable. The Trustee will provide monthly to the Issuer Company lists of principal and interest interest, to the extent ascertainable, to be paid on Certificated Notes maturing in the next month. The Company will provide to the Trustee not later than any payment date sufficient moneys to pay in full all principal and interest payments due on the payment date. The Trustee or Paying Agent, as the case may be, shall make all such payments in accordance with the terms of the Notes. The Trustee will be responsible for withholding taxes on interest paid on Certificated Notes as required by applicable law. On If the first Business Day Maturity or Redemption of each month, the Trustee will deliver to the Issuer by facsimile transmission a written statement, indicating the total principal amount of Outstanding Certificated Notes for which it serves as trustee as of the immediately preceding Business Day. If any Interest Payment Date for a Fixed Rate Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Fixed Rate Certificated NoteDay, the payment due on such Interest Payment Date will day shall be made on the following day that is a next succeeding Business Day with respect to such Fixed Rate Certificated Note, and no interest shall accrue on the amount payable on such Interest Payment Date payment date for the period from and after such Interest Payment Date to such following day that is a Business Day. If any Interest Payment Date for a Floating Rate Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Floating Rate Certificated NoteMaturity or date of Redemption, such Interest Payment Date will be the following day that is a Business Day with respect to such Floating Rate Certificated Note; PROVIDED, HOWEVER, that in as the case of a Floating Rate Certificated Note that is a LIBOR Note (or a Floating Rate Certificated Note for which LIBOR is the applicable Base Rate), if such Business Day is in the next succeeding calendar month, such Interest Payment Date will be the immediately preceding day that is a Business Day. If the date of Maturity of a Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Certificated Note, the payment due at Maturity will be made on the following day that is a Business Day with respect to such Certificated Note, and no interest shall accrue on the amount payable at Maturity for the period from and after the date of Maturitymay be.

Appears in 1 contract

Samples: Selling Agency Agreement (Ryder System Inc)

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Payments of Principal and Interest. The Trustee will Prior to the respective ----------------------------------- Store Tranche Commencement Date, Borrower shall pay interest only on the principal amount Advances, at the Interim Interest Rate, in arrears, on the first day of each Certificated Note at Maturity upon presentation month. From and after the applicable Store Tranche Commencement Date, provided there is no Default hereunder or under any of the other Loan Documents and provided further that there has been no material adverse change in the business, operations or financial condition of Borrower or in the Collateral, the aggregate Advances made with respect to such Note Store outstanding as of the applicable Store Tranche Commencement Date shall automatically convert to a fixed term obligation (the Trusteefixed term obligations are hereinafter referred to individually, as a "Store Tranche" and collectively, as the "Store Tranches"). Such paymentEach Store Tranche, together with payment of interest due thereon at Maturity of such Notethe applicable Store Tranche Interest Rate, will shall be made repaid in funds available for immediate use by the Holder of such Note. Certificated Notes presented to the Trustee at Maturity for payment will be cancelled by the Trustee in accordance with the terms of the Indenture and returned to the Issuer. All interest sixty (60) equal consecutive monthly payments on a Certificated Note (other than interest due at Maturity) will be made by check drawn on the Trustee (or another Person appointed by the Trustee) and mailed by the Trustee to the Person entitled thereto as provided in such Note. Following each Regular Record Date and Special Record Date, the Trustee will furnish the Issuer with a list of interest payments to be made on the following Interest Payment Date for each Certificated Note and in total for all Certificated Notes. Interest at Maturity will be payable to the Person to whom the payment of principal is payable. The Trustee will provide monthly to the Issuer lists of principal and interest to be paid on Certificated Notes maturing each in an amount which will fully amortize such Store Tranche at the next monthapplicable Store Tranche Interest Rate over the Term of such Store Tranche. The Trustee will first such monthly payment of principal and interest with respect to a Store Tranche shall be responsible for withholding taxes due and payable on interest paid on Certificated Notes as required by applicable law. On the first Business Day day of the second month succeeding the applicable Store Tranche Commencement Date and the payments shall continue on a like day in each and every month thereafter through and including the Maturity Date applicable to such Store Tranche; provided that (i) if the applicable Store Tranche Commencement Date is the first day of a month, the Trustee will deliver to first such monthly payment of principal and interest shall be due on the Issuer by facsimile transmission a written statement, indicating the total principal amount of Outstanding Certificated Notes for which it serves as trustee as first day of the immediately preceding Business Day. If any Interest Payment succeeding month, and (ii) if the applicable Store Tranche Commencement Date for a Fixed Rate Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Fixed Rate Certificated Notethe first day of the month, the payment due on such Interest Payment Date will be made Borrower shall pay, on the following first day that is of the month immediately succeeding such Store Tranche Commencement Date, interest only, at the applicable Store Tranche Interest Rate, from the applicable Store Tranche Commencement Date to the last day of the month in which such Store Tranche Commencement Date occurs. Lender shall compute the amount of each payment and advise Borrower of such amount. The entire unpaid principal balance of a Business Day Store Tranche which was not payable earlier, whether due to regularly scheduled payments, acceleration or otherwise, together with respect to such Fixed Rate Certificated Noteany unpaid interest, fees, costs and no interest charges shall accrue be due and payable on the amount payable on such Interest Payment Date for applicable Maturity Date. After the period from and after such Interest Payment Date to such following day that is a Business Day. If maturity of all or any Interest Payment Date for a Floating Rate Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Floating Rate Certificated Note, such Interest Payment Date will be part of the following day that is a Business Day with respect to such Floating Rate Certificated Note; PROVIDED, HOWEVER, that in the case of a Floating Rate Certificated Note that is a LIBOR Note Loan (by acceleration or a Floating Rate Certificated Note for which LIBOR is the applicable Base Rateotherwise), if such Business Day is in the next succeeding calendar month, such Interest Payment Date will be the immediately preceding day that is a Business Day. If the date of Maturity of a Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Certificated Note, the payment due at Maturity will be made interest on the following day that is a Business Day with respect to Loan or such Certificated Note, part thereof shall be due and no interest shall accrue on the amount payable at Maturity for the period from and after the date of MaturityDefault Rate on demand.

Appears in 1 contract

Samples: Loan and Security Agreement (Big v Supermarkets Inc)

Payments of Principal and Interest. The Trustee will pay the principal amount of each Certificated Note at Maturity maturity or upon redemption or repayment upon presentation and surrender of such Note to the Trustee. Such payment, together with payment of interest due at Maturity maturity or upon redemption or repayment of such Note, will be made in funds available for immediate use by the Holder Trustee and in turn by the holder of such Note. Certificated Notes presented for payment to the Trustee at Maturity for payment maturity or upon redemption or repayment will be cancelled by the Trustee in accordance with the terms of the Indenture and returned delivered to the IssuerCompany with a certificate of cancellation. All interest payments on a Certificated Note (other than interest due at Maturitymaturity or upon redemption or repayment) will be made by check drawn on the Trustee (or another Person person appointed by the Trustee) and mailed by the Trustee to the Person person entitled thereto as provided in such NoteNote and the applicable Indenture; provided , however , that the holder of $5,000,000 or more of Notes having the same Interest Payment Date will be entitled to receive payment by wire transfer of immediately available funds. Following each Regular Record Date and Special Record Date, the Trustee will furnish the Issuer Company with a list of interest payments to be made on the following Interest Payment Date for each Certificated Note and in total for all Certificated Notes. Interest at Maturity maturity or upon redemption or repayment will be payable to the Person person to whom the payment of principal is payable. The Trustee will provide monthly to the Issuer Company lists of principal and interest interest, to the extent ascertainable, to be paid on Certificated Notes maturing or to be redeemed in the next month. The Trustee will be responsible for withholding taxes on interest paid on Certificated Notes as required by applicable law. On If any Interest Payment Date or the first Maturity Date or redemption or repayment date of a Fixed Rate Certificated Note is not a Business Day, the payment due on such day shall be made on the next succeeding Business Day of each monthand no interest on such payment for the period from and after such Interest Payment Date, Maturity Date or redemption or repayment date, as the Trustee will deliver to the Issuer by facsimile transmission a written statement, indicating the total principal amount of Outstanding Certificated Notes for which it serves as trustee as of the immediately preceding Business Daycase may be. If any Interest Payment Date or the Maturity Date or redemption or repayment date for a Fixed any Certificated Floating Rate Certificated Note is scheduled to occur would fall on a day that is not a Business Day with respect to such Fixed Rate Certificated Note, the payment due on such Interest Payment Date will be made on the following day that is a Business Day with respect to such Fixed Rate Certificated Note, and no interest shall accrue on the amount payable on such Interest Payment Date for the period from and after such Interest Payment Date to such following day that is a Business Day. If any Interest Payment Date for a Floating Rate Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Floating Rate Certificated Note, such Interest Payment Date, Maturity Date or redemption or repayment date will be the following day that is a Business Day with respect to such Floating Rate Certificated Note; PROVIDEDNote (and no interest shall accrue for the intervening period), HOWEVERexcept that, that in the case of a Floating Rate Certificated Note that is a LIBOR Note (or a Floating Rate Certificated Note for which LIBOR is the applicable Base Rate)Note, if such Business Day is in the next succeeding calendar month, such Interest Payment Date will shall be the immediately preceding day that is a Business Day. If the date of Maturity of a Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Certificated Note, the payment due at Maturity will be made on the following day that is a Business Day with respect to such Certificated LIBOR Note, and no interest shall accrue on the amount payable at Maturity for the period from and after the date of Maturity.

Appears in 1 contract

Samples: u.s. Distribution Agreement (General Electric Capital Corp)

Payments of Principal and Interest. The (a) Payments on Bonds issued as Book-Entry Bonds will be made by or on behalf of the Indenture Trustee to the Clearing Agency or its nominee. Any installment of interest or principal payable on any Definitive Bonds that is punctually paid or duly provided for by the Issuer on the applicable Payment Date shall be paid to the Person in whose name such Bond (or one or more Predecessor Bonds) is registered at the close of business on the Record Date for such Payment Date by either (i) check mailed to such Person's address as it appears in the Bond Register on such Record Date, or (ii) by wire transfer of immediately available funds to the account of a Bondholder, if such Bondholder (A) is the registered holder of Definitive Bonds having an initial principal amount of at least $1,000,000 and (B) has provided the Indenture Trustee with wiring instructions in writing by five Business Days prior to the related Record Date or has provided the Indenture Trustee with such instructions for any previous Payment Date, except for the final installment of principal payable with respect to such Bond (or the Redemption Price for any Bond called for redemption, if such redemption will pay result in payment of the then entire unpaid principal amount of such Bond), which shall be payable as provided in subsection (b) below of this Section 2.08. A fee may be charged by the Indenture Trustee to a Bondholder of Definitive Bonds for any payment made by wire transfer. Any installment of interest or principal not punctually paid or duly provided for shall be payable as soon as funds are available to the Indenture Trustee for payment thereof, or if Section 5.07 applies, pursuant to Section 5.07. (b) All reductions in the principal amount of a Bond (or one or more Predecessor Bonds) effected by payments of installments of principal made on any Payment Date shall be binding upon all Holders of such Bond and of any Bond issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof, whether or not such payment is noted on such Bond. The final installment of principal of each Certificated Note at Maturity Bond (including the Redemption Price of any Bond called for optional redemption, if such optional redemption will result in payment of the entire unpaid principal amount of such Bond) shall be payable only upon presentation and surrender thereof on or after the Payment Date therefor at the Indenture Trustee's presenting office located within the United States of America pursuant to Section 3.02. Whenever the Indenture Trustee expects that the entire remaining unpaid principal amount of any Bond will become due and payable on the next Payment Date other than pursuant to a redemption pursuant to Article X, it shall, no later than two days prior to such Note Payment Date, telecopy or hand deliver to each Person in whose name a Bond to be so retired is registered at the close of business on such otherwise applicable Record Date a notice to the Trustee. Such payment, together with payment of interest due at Maturity of effect that: (i) the Indenture Trustee expects that funds sufficient to pay such Note, final installment will be made available in the Bond Account on such Payment Date; and (ii) if such funds available for immediate use by the Holder of are available, (A) such Note. Certificated Notes presented to the Trustee at Maturity for payment will be cancelled by the Trustee in accordance with the terms of the Indenture and returned to the Issuer. All interest payments on a Certificated Note (other than interest due at Maturity) will be made by check drawn on the Trustee (or another Person appointed by the Trustee) and mailed by the Trustee to the Person entitled thereto as provided in such Note. Following each Regular Record Date and Special Record Date, the Trustee will furnish the Issuer with a list of interest payments to be made on the following Interest Payment Date for each Certificated Note and in total for all Certificated Notes. Interest at Maturity final installment will be payable to on such Payment Date, but only upon presentation and surrender of such Bond at the Person to whom the payment of principal is payable. The Trustee will provide monthly to the Issuer lists of principal and interest to be paid on Certificated Notes maturing in the next month. The Trustee will be responsible for withholding taxes on interest paid on Certificated Notes as required by applicable law. On the first Business Day of each month, the Trustee will deliver to the Issuer by facsimile transmission a written statement, indicating the total principal amount of Outstanding Certificated Notes for which it serves as trustee as office or agency of the immediately preceding Business Day. If any Interest Payment Date Bond Registrar maintained for a Fixed Rate Certificated Note is scheduled such purpose pursuant to occur on a day that is not a Business Day with respect to Section 3.02 (the address of which shall be set forth in such Fixed Rate Certificated Note, the payment due on such Interest Payment Date will be made on the following day that is a Business Day with respect to such Fixed Rate Certificated Note, notice) and (B) no interest shall accrue on such Bond after such Payment Date. Notices in connection with redemptions of Bonds shall be mailed to Bondholders in accordance with Section 10.02. (c) Subject to the amount payable on foregoing provisions of this Section, each Bond delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Bond of the same Class shall carry the rights to unpaid principal and interest that were carried by such Interest other Bond. Any checks mailed pursuant to subsection (a) of this Section 2.08 and returned undelivered shall be held in accordance with Section 3.03. (d) Each Payment Date for Statement, prepared by the period from Indenture Trustee based on the Servicer Remittance Report delivered to the Indenture Trustee pursuant to the Servicing Agreement, shall be delivered by the Indenture Trustee to the Rating Agencies, the Owner Trustee, the Underwriter, and each Bondholder as the statement required pursuant to Section 8.06. Neither the Indenture Trustee nor the Paying Agent shall have any responsibility to recalculate, verify or recompute information contained in any such Servicer Remittance Report except to the extent necessary to satisfy all obligations under this Section 2.08(d). Within 90 days after the end of each calendar year, the Indenture Trustee will be required to furnish to each Person who at any time during the calendar year was a Bondholder, if requested in writing by such Interest Person, a statement containing the information set forth in subclauses (i) and (ii) in the definition of "Payment Date to Statement," aggregated for such following day that is calendar year or the applicable portion thereof during which such Person was a Business DayBondholder. If any Interest Payment Date for a Floating Rate Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Floating Rate Certificated Note, such Interest Payment Date Such obligation will be deemed to have been satisfied to the following day extent that substantially comparable information is a Business Day with respect provided pursuant to such Floating Rate Certificated Note; PROVIDED, HOWEVER, that any requirements of the Code as are from time to time in the case of a Floating Rate Certificated Note that is a LIBOR Note (or a Floating Rate Certificated Note for which LIBOR is the applicable Base Rate), if such Business Day is in the next succeeding calendar month, such Interest Payment Date will be the immediately preceding day that is a Business Day. If the date of Maturity of a Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Certificated Note, the payment due at Maturity will be made on the following day that is a Business Day with respect to such Certificated Note, and no interest shall accrue on the amount payable at Maturity for the period from and after the date of Maturityforce.

Appears in 1 contract

Samples: Indenture (Fund America Investors Corp Ii)

Payments of Principal and Interest. The Trustee will pay the principal amount of each Certificated Note at Maturity to the Person in whose name such Note is registered upon presentation of such Note to the Trustee. Such payment, together with payment of interest due at Maturity of such Note, will be made in funds available for immediate use by the Holder of such Note. Certificated Notes presented to the Trustee at Maturity for payment will be cancelled by the Trustee in accordance with the terms of the Indenture and returned to the Issuer. All interest payments on a Certificated Note (other than interest due at Maturity) will be made by check drawn on the Trustee (or another Person appointed by the Trustee) and mailed by the Trustee to the Person entitled thereto as provided in such Note; provided, however, that the holder of $10,000,000 or more of Certificated Notes paying interest on the same Interest Payment Date will be entitled to receive payment by wire transfer but only if appropriate payment instructions have been received in writing by the Trustee not later than the Regular Record Date or Special Record Date, as the case may be, for such payment. Following each Regular Record Date and Special Record Date, the Trustee will furnish the Issuer with a list of interest payments to be made on the following Interest Payment Date for each Certificated Note and in total for all Certificated Notes. Interest at Maturity will be payable to the Person to whom the payment of principal is payable. The Trustee will provide monthly to the Issuer lists of principal and interest to be paid on Certificated Notes maturing in the next month. The Trustee will be responsible for withholding taxes on interest paid on Certificated Notes as required by applicable law. On the first Business Day of each month, the Trustee will deliver to the Issuer by facsimile transmission a written statement, indicating the total principal amount of Outstanding Certificated Notes for which it serves as trustee as of the immediately preceding Business Day. If any Interest Payment Date for a Fixed Rate Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Fixed Rate Certificated Note, the payment due on such Interest Payment Date will be made on the following day that is a Business Day with respect to such Fixed Rate Certificated Note, and no interest shall accrue on the amount payable on such Interest Payment Date for the period from and after such Interest Payment Date to such following day that is a Business Day. If any Interest Payment Date for a Floating Rate Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Floating Rate Certificated Note, such Interest Payment Date will be the following day that is a Business Day with respect to such Floating Rate Certificated Note; PROVIDEDprovided, HOWEVERhowever, that in the case of a Floating Rate Certificated Note which is a LIBOR Note, if such following day that is a LIBOR Note (or a Floating Rate Certificated Note for which LIBOR is the applicable Base Rate), if such Business Day is in the next succeeding calendar month, such Interest Payment Date will be the immediately preceding day that is a Business Day. If the date of Maturity of a Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Certificated Note, the payment due at Maturity will be made on the following day that is a Business Day with respect to such Certificated Note, and no interest shall accrue on the amount payable at Maturity for the period from and after the date of Maturity.. ACCEPTANCE AND

Appears in 1 contract

Samples: Distribution Agreement (Occidental Petroleum Corp /De/)

Payments of Principal and Interest. The Trustee will pay the principal amount of each Certificated Note at Maturity upon presentation of such Note to the Trustee. Such payment, together with payment of interest due at Maturity of such Note, will be made in funds available for immediate use by the Holder of such Note. Certificated (a) Payments on Notes presented to the Trustee at Maturity for payment will be cancelled by the Trustee in accordance with the terms of the Indenture and returned to the Issuer. All interest payments on a Certificated Note (other than interest due at Maturity) issued as Book-Entry Notes will be made by check drawn or on behalf of the Trustee (or another Person appointed by the Trustee) and mailed by the Indenture Trustee to the Clearing Agency or its nominee. Any installment of interest or principal payable on any Definitive Notes that is punctually paid or duly provided for by the Issuing Entity on the applicable Payment Date shall be paid to the Person entitled thereto as provided in whose name such Note. Following each Regular Note (or one or more Predecessor Notes) is registered at the close of business on the Record Date for such Class of Notes and Special such Payment Date by either (i) wire transfer of immediately available funds to the account of a Noteholder, if such Noteholder has provided the Indenture Trustee with wiring instructions in writing by five (5) Business Days prior to the related Record Date or has provided the Indenture Trustee with such instructions for any previous Payment Date or (ii) check mailed to such Person’s address as it appears in the Note Register on such Record Date, except for the Trustee will furnish the Issuer with a list of interest payments to be made on the following Interest Payment Date for each Certificated Note and in total for all Certificated Notes. Interest at Maturity will be payable to the Person to whom the payment final installment of principal is payable. The Trustee will provide monthly to the Issuer lists of principal and interest to be paid on Certificated Notes maturing in the next month. The Trustee will be responsible for withholding taxes on interest paid on Certificated Notes as required by applicable law. On the first Business Day of each month, the Trustee will deliver to the Issuer by facsimile transmission a written statement, indicating the total principal amount of Outstanding Certificated Notes for which it serves as trustee as of the immediately preceding Business Day. If any Interest Payment Date for a Fixed Rate Certificated Note is scheduled to occur on a day that is not a Business Day payable with respect to such Fixed Rate Certificated Note, which shall be payable as provided in subsection (b) of this Section 2.08. A fee may be charged by the Indenture Trustee to a Holder of Definitive Notes for any payment due made by wire transfer. Any installment of interest or principal not punctually paid or duly provided for shall be payable as soon as funds are available to the Indenture Trustee for payment thereof, or if Section 5.07 applies, pursuant to Section 5.07. Payments on such Interest Payment Date Certificates will be made by or on behalf of the Indenture Trustee to or at the direction of the Person in whose name such Certificate is registered by either (i) wire transfer of immediately available funds to the account directed by a Certificateholder, if such Certificateholder (A) is Accredited Home Lenders, Inc. or its affiliate and (B) has provided the Indenture Trustee with wiring instructions in writing by five (5) Business Days prior to the related payment Date or has provided the Indenture Trustee with such instructions for any previous Payment Date or (ii) check mailed to such Person’s address as it appears in the Certificate Register on such Record Date. A fee may be charged by the Indenture Trustee to a Certificateholder for any payment made by wire transfer. The Indenture Trustee shall be entitled to rely on information provided by the Owner Trustee as Certificate Registrar as to all matters related to the Certificate Registrar and the Certificates. (b) All reductions in the Note Principal Balance of a Note (or one or more Predecessor Notes) effected by payments of installments of principal made on any Payment Date shall be binding upon all Holders of such Note and of any Note issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof, whether or not such payment is noted on such Note. The final installment of principal of each Note shall be payable only upon presentation and surrender thereof on or after the Payment Date therefor at the designated office of the Indenture Trustee located within the United States of America pursuant to Section 3.02. Whenever the Indenture Trustee expects that the entire unpaid Note Principal Balance of any Note will become due and payable on the following day that is next Payment Date, other than pursuant to a redemption pursuant to Article X, it shall, no later than two (2) Business Day with respect Days prior to such Fixed Rate Certificated NotePayment Date, mail to each Person in whose name a Note to be so retired is registered at the close of business on such otherwise applicable Record Date a notice to the effect that: (i) the Indenture Trustee expects that funds sufficient to pay such final installment will be available in the related Payment Account on such Payment Date; and (ii) if such funds are available, (a) such final installment will be payable on such Payment Date, but only upon presentation and surrender of such Note at the office or agency of the Note Registrar maintained for such purpose pursuant to Section 3.02 (the address of which shall be set forth in such notice) and (b) no interest shall accrue on such Note after such Payment Date. A copy of such form of notice shall be sent to the Note Insurer by the Indenture Trustee. Notices in connection with redemptions of Notes shall be mailed to Noteholders in accordance with Section 10.02 hereof. (c) Subject to the foregoing provisions of this Section 2.08, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to unpaid principal and interest that were carried by such other Note. Any checks mailed pursuant to paragraph (a) of this Section 2.08 and returned undelivered shall be held in accordance with Section 3.03 hereof. (d) The Indenture Trustee’s Remittance Report, shall be prepared by the Indenture Trustee based on the loan level data provided in the Servicer Remittance Report delivered to the Indenture Trustee pursuant to the Sale and Servicing Agreement. The Indenture Trustee shall not have any responsibility to recalculate, verify or recompute information contained in any tape, electronic data file or disk or Servicer Remittance Report delivered to the Indenture Trustee pursuant to the Sale and Servicing Agreement except to the extent necessary to satisfy all obligations under this Section 2.08(d). Within thirty (30) days after the end of each calendar year, the Indenture Trustee will be required to furnish to each Person who at any time during the calendar year was a Noteholder, if requested in writing by such person, a statement containing the information set forth in subclauses (a), (b) and (c) in the definition of “Indenture Trustee’s Remittance Report,” aggregated for such calendar year. Such obligation will be deemed to have been satisfied to the extent that substantially comparable information is provided pursuant to any requirements of the Code as are from time to time in force. From time to time (but no more than once per calendar month), upon the written request of the Depositor, the Sponsor, the Servicer or the Note Insurer, the Indenture Trustee shall report to the Depositor, the Sponsor, the Servicer and the Note Insurer the amount payable on such Interest Payment Date for then held in each Account (including investment earnings accrued) held by the period from Indenture Trustee and after such Interest Payment Date the identity of the investments included therein. From time to such following day that is a Business Day. If any Interest Payment Date for a Floating Rate Certificated time, at the request of the Note is scheduled Insurer, the Indenture Trustee shall report to occur on a day that is not a Business Day the Note Insurer with respect to such Floating Rate Certificated Note, such Interest Payment Date will be the following day that is a Business Day with respect to such Floating Rate Certificated Note; PROVIDED, HOWEVER, that in the case actual knowledge of a Floating Rate Certificated Responsible Officer, without independent investigation, of any breach of any of the representations or warranties relating to individual Mortgage Loans set forth in Section 4.01 of the Sale and Servicing Agreement. The Indenture Trustee shall also provide the Note that is a LIBOR Insurer such other information within its control as may be reasonably requested by the Note (or a Floating Rate Certificated Note for which LIBOR is the applicable Base Rate), if such Business Day is in the next succeeding calendar month, such Interest Payment Date will be the immediately preceding day that is a Business Day. If the date of Maturity of a Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Certificated Note, the payment due at Maturity will be made on the following day that is a Business Day with respect to such Certificated Note, and no interest shall accrue on the amount payable at Maturity for the period from and after the date of MaturityInsurer.

Appears in 1 contract

Samples: Indenture (Accredited Mortgage Loan REIT Trust)

Payments of Principal and Interest. The Trustee Interest - Annual interest payments will pay be due on June 30 of each year, and shall continue until the unpaid principal balance of this Note is paid in full. Borrower also has the option in the Investment Subscription Agreement to receive interest each year annually, or accrue interest and receive all payments of interest at Maturity Date. If Borrower elects to reinvest accrued interest, the interest will be compounded annually and added to the principal amount balance of the Note on June 30 of each Certificated Note year. Principal - At Lender’s election, Xxxxxxxx will either pay Lender its principal at Maturity upon presentation Date, or may delay repayment of such principal until all Community Investment Notes have been fully repaid (see below). All unpaid principal balance of this Note due and owing to Lender, as it may be adjusted in the Trustee. Such paymentmanner set forth below, and together with payment of interest due at Maturity of such Noteany accrued but unpaid interest, will be made in funds available due and payable within 60 days following Maturity Date. The Maturity Date is June 30, 2024, but may, at Borrower’s option, be automatically extended for immediate use by an additional five (5) year term such that the Holder new Maturity Date is on the fifth anniversary of such Note. Certificated Notes presented the previous Maturity Date, unless Lender gives notice to Borrower not more than 180 days and not less than 30 days prior to the Trustee at next Maturity for Date that Lender does not wish to extend the Maturity Date. To the extent such payment exceeds the amount of accrued interest owed to Investor as of each Payment Date, the excess payment will be cancelled by the Trustee in accordance with the terms of the Indenture and returned to the Issuer. All interest payments on deemed a Certificated Note (other than interest due at Maturity) will be made by check drawn on the Trustee (or another Person appointed by the Trustee) and mailed by the Trustee to the Person entitled thereto as provided in such Note. Following each Regular Record Date and Special Record Date, the Trustee will furnish the Issuer with a list of interest payments to be made on the following Interest Payment Date for each Certificated Note and in total for all Certificated Notes. Interest at Maturity will be payable to the Person to whom the payment of principal is payable. The Trustee will provide monthly to the Issuer lists repayment of principal and interest will reduce the principal balance due under this Note. Each payment to be paid on Certificated Notes maturing in the next month. The Trustee Lender will be responsible for withholding taxes on accompanied by a statement summarizing payments since the previous Payment Date and indicating how each payment is calculated and how it is allocated between principal and interest. Borrower will have the ability to have all unpaid principal and interest paid on Certificated Notes become a donation to TechSoup. If Borrower elects to have any unpaid interest and principal treated as required by applicable lawa donation to TechSoup, TechSoup will provide Borrower with appropriate documentation regarding such a donation. On Notwithstanding any other provision contained herein, Borrower shall have the first Business Day of each month, the Trustee will deliver right to the Issuer by facsimile transmission a written statement, indicating the total principal amount of Outstanding Certificated Notes for which it serves as trustee as prepay any or all of the immediately preceding Business Day. If principal and outstanding interest owed hereunder at any Interest Payment Date for a Fixed Rate Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Fixed Rate Certificated Note, the payment due on such Interest Payment Date will be made on the following day that is a Business Day with respect to such Fixed Rate Certificated Note, and no interest shall accrue on the amount payable on such Interest Payment Date for the period from and after such Interest Payment Date to such following day that is a Business Day. If any Interest Payment Date for a Floating Rate Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Floating Rate Certificated Note, such Interest Payment Date will be the following day that is a Business Day with respect to such Floating Rate Certificated Note; PROVIDED, HOWEVER, that in the case of a Floating Rate Certificated Note that is a LIBOR Note (time without penalty or a Floating Rate Certificated Note for which LIBOR is the applicable Base Rate), if such Business Day is in the next succeeding calendar month, such Interest Payment Date will be the immediately preceding day that is a Business Day. If the date of Maturity of a Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Certificated Note, the payment due at Maturity will be made on the following day that is a Business Day with respect to such Certificated Note, and no interest shall accrue on the amount payable at Maturity for the period from and after the date of Maturitypremium.

Appears in 1 contract

Samples: Risk Capital Note (TechSoup Global)

Payments of Principal and Interest. The Trustee Borrower shall pay on the first calendar day of each month commencing on the First Project Loan Payment Date, interest at the Interest Rate on the outstanding principal balance of this Project Note, and shall also pay interest on this Project Note at the Interest Rate in the event of an optional or mandatory prepayment or acceleration of all or a part of the Project Loan pursuant to this Project Note or the Project Loan Agreement, in an amount equal to the accrued and unpaid interest to the date of prepayment on the portion of this Project Note subject to prepayment (each such date for payment a “Project Loan Payment Date”). Interest under this Project Note will be computed, payable and allocated on the basis of a 365 or 366-day year for the actual number of days elapsed. Borrower shall pay the outstanding principal of this Project Note in full on the Scheduled Maturity Date and in monthly installments on each date set forth on the Project Loan Amortization Schedule attached as Schedule 1 to this Project Note in an amount equal to the corresponding amounts set forth thereon, or at such earlier times and in such amounts as may be required in the event of each Certificated an optional or mandatory prepayment or acceleration of the Project Loan pursuant to this Project Note or the Project Loan Agreement. In addition to the foregoing, Borrower shall make payments hereunder in respect of the Project Loan at Maturity such times and in such amounts as are sufficient to pay, when due (whether at stated maturity, upon presentation prepayment before maturity, upon acceleration of stated maturity or otherwise), the principal of and premium, if any, and interest on the Funding Loan at any time outstanding. To ensure timely payment, Servicer shall collect from Borrower, and Borrower shall provide to Servicer, the foregoing payments two (2) Business Days prior to the respective Project Loan Payment Date; provided, unless the Closing Date is the first day of a calendar month, Servicer shall collect from Borrower and Borrower shall provide to Servicer on the Closing Date, interest for the period beginning on the Closing Date and ending on and including the last day of such Note to the Trusteecalendar month. Such payment, together with payment of interest due at Maturity of such Note, will be made in funds available for immediate use by the Holder of such Note. Certificated Notes presented to the Trustee at Maturity for payment will be cancelled by the Trustee in accordance with the terms of the Indenture and returned to the Issuer. All interest payments on a Certificated Note (other than interest due at Maturity) will be made by check drawn on the Trustee (or another Person appointed by the Trustee) and mailed by the Trustee to the Person entitled thereto Except as provided in such Note. Following each Regular Record Date and Special Record Date, the Trustee will furnish the Issuer with a list of interest payments to be made on the following Interest Payment Date for each Certificated Note this paragraph and in total for all Certificated Notes. Interest at Maturity Section 10, accrued interest will be payable to the Person to whom the payment of principal is payablein arrears. The Trustee will provide Any regularly scheduled monthly to the Issuer lists installment of principal and interest payable pursuant to this Section 2 that is received by Holder before the date on which it is due will be paid deemed to have been received on Certificated Notes maturing the due date for the purpose of calculating interest due. [IF LIBOR INDEX: If an Index Conversion Event occurs: (a) Funding Lender will notify Borrower in writing of the Alternate Index, the Alternate Index Page, and the Index Conversion Date (as defined below) (“Index Conversion Notice”) and of the Adjustment Factor (“Adjustment Factor Notice”) before the first Installment Due Date following the Index Conversion Date. (b) Beginning on the date specified in the next month. Index Conversion Notice (“Index Conversion Date”), interest will accrue at the Floating Interest Rate calculated using the Alternate Index, the Alternate Index Page and the Adjustment Factor specified in the applicable Index Conversion Notice and Adjustment Factor Notice, without the necessity of any amendment or other modification of this Note. (c) The Trustee designation or determination by Funding Lender of an Index Conversion Event, the Index Conversion Date, the Alternate Index, the Alternate Index Page, and the Adjustment Factor will be responsible for withholding taxes on interest paid on Certificated Notes as required by applicable law. On the first Business Day of each month, the Trustee will deliver to the Issuer by facsimile transmission a written statement, indicating the total principal amount of Outstanding Certificated Notes for which it serves as trustee as of the immediately preceding Business Dayconclusive. If any Interest Payment Date for a Fixed Rate Certificated Note Freddie Mac is scheduled to occur on a day that the Funding Lender, such designation or determination will be in Funding Xxxxxx’s sole discretion. If Funding Lender is not a Business Day with respect to Freddie Mac, such Fixed Rate Certificated Note, the payment due on such Interest Payment Date designation or determination will be made on the following day that is a Business Day with respect to such Fixed Rate Certificated Noteat, and no interest shall accrue on in accordance with, the amount payable on such Interest Payment Date for the period from and after such Interest Payment Date to such following day that is a Business Day. If any Interest Payment Date for a Floating Rate Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Floating Rate Certificated Note, such Interest Payment Date written direction of Freddie Mac which will be given in Freddie Mac’s sole discretion. (d) Funding Lender will determine and designate the following day that is a Business Day with respect to such Floating Rate Certificated Note; PROVIDED, HOWEVER, that in the case of a Floating Rate Certificated Note that is a LIBOR Note (or a Floating Rate Certificated Note for which LIBOR is the applicable Base Rate), if such Business Day is in the next succeeding calendar month, such Interest Payment Date will be the immediately preceding day that is a Business Day. If the date of Maturity of a Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Certificated NoteAlternate Index, the payment due at Maturity will be made on the following day that is a Business Day with respect to such Certificated NoteAlternate Index Page, and no interest shall accrue on the amount payable at Maturity for Adjustment Factor only if an Index Conversion Event occurs, and will not re-determine or re-designate another Alternate Index, the period from and after the date of MaturityAlternate Index Page, or Adjustment Factor unless a subsequent Index Conversion Event occurs.]

Appears in 1 contract

Samples: Project Note

Payments of Principal and Interest. The Trustee Fuji will pay the principal amount of each Certificated Note at Stated Maturity upon presentation of such Note to the TrusteeFuji. Such payment, together with payment of interest due at Stated Maturity of such Note, will be made in funds available for immediate use by Fuji and in turn by the Holder of such Note. Certificated Notes presented to the Trustee Fuji at Stated Maturity for payment will be cancelled canceled by Xxxx, as the Trustee Authenticating Agent in accordance with the terms of the Indenture and returned to the IssuerIndenture. All interest payments on a Certificated Note (other than interest due at Stated Maturity) will be made by check drawn on the Trustee Fuji (or another Person appointed by the TrusteeXxxx) and mailed by the Trustee Fuji to the Person entitled thereto as provided in such NoteNote and the Indenture; provided, however, that the holder of U.S. $10,000,000 (or the equivalent thereof in other currencies) or more of Notes with similar tenor and terms will be entitled to receive payment by wire transfer in U.S. dollars. Following each Regular Record Date and Special Record Date, the Trustee Fuji will EXHIBIT A furnish the Issuer Company and the Paying Agent (if other than Fuji) with a list of interest payments to be made on the following Interest Payment Date for each Certificated Note and in the total for all Certificated Notes. Interest at Stated Maturity will be payable to the Person to whom the payment of principal is payable. The Trustee Fuji will provide monthly to the Issuer Company lists of principal and interest interest, to the extent ascertainable, to be paid on Certificated Notes maturing (on a Stated Maturity, Redemption or Repayment Date or otherwise) in the next month. The Trustee Xxxx will be responsible for withholding taxes on interest paid on Certificated Notes as required by applicable law. On the first Business Day of each month, the Trustee will deliver to the Issuer by facsimile transmission a written statement, indicating the total principal amount of Outstanding Certificated Notes for which it serves as trustee as of the immediately preceding Business Day. If any Interest Payment Date for or the Stated Maturity of a Fixed Rate Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Fixed Rate Certificated NoteDay, the payment due on such Interest Payment Date will day shall be made on the following day that is a next succeeding Business Day with respect to such Fixed Rate Certificated Note, and no interest shall accrue on the amount payable on such Interest Payment Date payment for the period from and after such Interest Payment Date to such following day that is a Business Day. If any Interest Payment Date for a Floating Rate Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Floating Rate Certificated Noteor Stated Maturity, such Interest Payment Date will be as the following day that is a Business Day with respect to such Floating Rate Certificated Note; PROVIDEDcase may be, HOWEVER, that except in the case of a Floating Rate Certificated Note that is a LIBOR Note (or an Interest Payment Date on a Floating Rate Certificated Note for which LIBOR the Base Rate is the applicable Base Rate)LIBOR, if such Business Day is in the next succeeding calendar month, such Interest Payment Date will be the immediately preceding day that is a Business Day. If the date of Maturity of a Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Certificated Note, the payment due at Maturity will be made on the following day that is a Business Day with respect to such Certificated Note, and no interest shall accrue on the amount payable at Maturity for the period from and after the date of Maturity.

Appears in 1 contract

Samples: Distribution Agreement (Heller Financial Inc)

Payments of Principal and Interest. The Trustee will pay the principal amount of each Certificated Note at Maturity upon presentation of such Note to the Trustee. Such payment, together with payment of interest due at Maturity of such Note, will be made in funds available for immediate use by the Holder of such Note. Certificated (a) Payments on Notes presented to the Trustee at Maturity for payment will be cancelled by the Trustee in accordance with the terms of the Indenture and returned to the Issuer. All interest payments on a Certificated Note (other than interest due at Maturity) issued as Book-Entry Notes will be made by check drawn or on behalf of the Trustee (or another Person appointed by the Trustee) and mailed by the Indenture Trustee to the Clearing Agency or its nominee. Any installment of interest or principal payable on any Definitive Notes that is punctually paid or duly provided for by the Trust on the applicable Payment Date shall be paid to the Person entitled thereto as provided in whose name such Note. Following each Regular Note (or one or more Predecessor Notes) is registered at the close of business on the Record Date for such Class of Notes and Special such Payment Date by either (i) wire transfer of immediately available funds to the account of a Noteholder, if such Noteholder has provided the Indenture Trustee with wiring instructions in writing by five (5) Business Days prior to the related Record Date or has provided the Indenture Trustee with such instructions for any previous Payment Date or (ii) check mailed to such Person’s address as it appears in the Note Register on such Record Date, except for the Trustee will furnish the Issuer with a list of interest payments to be made on the following Interest Payment Date for each Certificated Note and in total for all Certificated Notes. Interest at Maturity will be payable to the Person to whom the payment final installment of principal is payable. The Trustee will provide monthly to the Issuer lists of principal and interest to be paid on Certificated Notes maturing in the next month. The Trustee will be responsible for withholding taxes on interest paid on Certificated Notes as required by applicable law. On the first Business Day of each month, the Trustee will deliver to the Issuer by facsimile transmission a written statement, indicating the total principal amount of Outstanding Certificated Notes for which it serves as trustee as of the immediately preceding Business Day. If any Interest Payment Date for a Fixed Rate Certificated Note is scheduled to occur on a day that is not a Business Day payable with respect to such Fixed Rate Certificated Note, which shall be payable as provided in subsection (b) of this Section 2.08. A fee may be charged by the Indenture Trustee to a Holder of Definitive Notes for any payment due made by wire transfer. Any installment of interest or principal not punctually paid or duly provided for shall be payable as soon as funds are available to the Indenture Trustee for payment thereof, or if Section 5.07 applies, pursuant to Section 5.07. Payments on such Interest Payment Date Certificates will be made by or on behalf of the Indenture Trustee to or at the direction of the Person in whose name such Certificate is registered by either (i) wire transfer of immediately available funds to the account directed by a Certificateholder, if such Certificateholder (A) is Accredited Home Lenders, Inc. or its affiliate and (B) has provided the Indenture Trustee with wiring instructions in writing by five (5) Business Days prior to the related payment Date or has provided the Indenture Trustee with such instructions for any previous Payment Date or (ii) check mailed to such Person’s address as it appears in the Certificate Register on such Record Date. A fee may be charged by the Indenture Trustee to a Certificateholder for any payment made by wire transfer. The Indenture Trustee shall be entitled to rely on information provided by the Owner Trustee as Certificate Registrar as to all matters related to the Certificate Registrar and the Certificates. (b) All reductions in the Note Principal Balance of a Note (or one or more Predecessor Notes) effected by payments of installments of principal made on any Payment Date shall be binding upon all Holders of such Note and of any Note issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof, whether or not such payment is noted on such Note. The final installment of principal of each Note shall be payable only upon presentation and surrender thereof on or after the Payment Date therefor at the designated office of the Indenture Trustee located within the United States of America pursuant to Section 3.02. Whenever the Indenture Trustee expects that the entire unpaid Note Principal Balance of any Note will become due and payable on the following day that is next Payment Date, other than pursuant to a redemption pursuant to Article X, it shall, no later than two (2) Business Day with respect Days prior to such Fixed Rate Certificated NotePayment Date, mail to each Person in whose name a Note to be so retired is registered at the close of business on such otherwise applicable Record Date a notice to the effect that: (i) the Indenture Trustee expects that funds sufficient to pay such final installment will be available in the related Payment Account on such Payment Date; and (ii) if such funds are available, (a) such final installment will be payable on such Payment Date, but only upon presentation and surrender of such Note at the office or agency of the Note Registrar maintained for such purpose pursuant to Section 3.02 (the address of which shall be set forth in such notice) and (b) no interest shall accrue on such Note after such Payment Date. A copy of such form of notice shall be sent to the Note Insurer by the Indenture Trustee. Notices in connection with redemptions of Notes shall be mailed to Noteholders in accordance with Section 10.02 hereof. (c) Subject to the foregoing provisions of this Section 2.08, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to unpaid principal and interest that were carried by such other Note. Any checks mailed pursuant to paragraph (a) of this Section 2.08 and returned undelivered shall be held in accordance with Section 3.03 hereof. (d) The Indenture Trustee’s Remittance Report, shall be prepared by the Indenture Trustee based on the loan level data provided in the Servicer Remittance Report delivered to the Indenture Trustee pursuant to the Sale and Servicing Agreement. The Indenture Trustee shall not have any responsibility to recalculate, verify or recompute information contained in any tape, electronic data file or disk or Servicer Remittance Report delivered to the Indenture Trustee pursuant to the Sale and Servicing Agreement except to the extent necessary to satisfy all obligations under this Section 2.08(d). Within thirty (30) days after the end of each calendar year, the Indenture Trustee will be required to furnish to each Person who at any time during the calendar year was a Noteholder, if requested in writing by such person, a statement containing the information set forth in subclauses (a), (b) and (c) in the definition of “Indenture Trustee’s Remittance Report,” aggregated for such calendar year. Such obligation will be deemed to have been satisfied to the extent that substantially comparable information is provided pursuant to any requirements of the Code as are from time to time in force. From time to time (but no more than once per calendar month), upon the written request of the Seller, the Sponsor, the Master Servicer, the Backup Servicer or the Note Insurer, the Indenture Trustee shall report to the Seller, the Sponsor, the Master Servicer, the Backup Servicer and the Note Insurer the amount payable on such Interest Payment Date for then held in each Account (including investment earnings accrued) held by the period from Indenture Trustee and after such Interest Payment Date the identity of the investments included therein. From time to such following day that is a Business Day. If any Interest Payment Date for a Floating Rate Certificated time, at the request of the Note is scheduled Insurer, the Indenture Trustee shall report to occur on a day that is not a Business Day the Note Insurer with respect to such Floating Rate Certificated Note, such Interest Payment Date will be the following day that is a Business Day with respect to such Floating Rate Certificated Note; PROVIDED, HOWEVER, that in the case actual knowledge of a Floating Rate Certificated Responsible Officer, without independent investigation, of any breach of any of the representations or warranties relating to individual Mortgage Loans set forth in Section 4.01 of the Sale and Servicing Agreement. The Indenture Trustee shall also provide the Note that is a LIBOR Insurer such other information within its control as may be reasonably requested by the Note (or a Floating Rate Certificated Note for which LIBOR is the applicable Base Rate), if such Business Day is in the next succeeding calendar month, such Interest Payment Date will be the immediately preceding day that is a Business Day. If the date of Maturity of a Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Certificated Note, the payment due at Maturity will be made on the following day that is a Business Day with respect to such Certificated Note, and no interest shall accrue on the amount payable at Maturity for the period from and after the date of MaturityInsurer.

Appears in 1 contract

Samples: Indenture (Accredited Mortgage Loan Trust 2004-2)

Payments of Principal and Interest. The Trustee will pay the principal amount of each Certificated Note at Maturity upon presentation of such Note to the Trustee. Such payment, together with payment of interest due at Maturity of such Note, will be made in funds available for immediate use by the Holder of such Note. Certificated (a) Payments on Notes presented to the Trustee at Maturity for payment will be cancelled by the Trustee in accordance with the terms of the Indenture and returned to the Issuer. All interest payments on a Certificated Note (other than interest due at Maturity) issued as Book-Entry Notes will be made by check drawn or on behalf of the Trustee (or another Person appointed by the Trustee) and mailed by the Indenture Trustee to the Clearing Agency or its nominee. Any installment of interest or principal payable on any Definitive Notes that is punctually paid or duly provided for by the Issuing Entity on the applicable Payment Date shall be paid to the Person entitled thereto as provided in whose name such Note. Following each Regular Note (or one or more Predecessor Notes) is registered at the close of business on the Record Date for such Class of Notes and Special such Payment Date by either (i) wire transfer of immediately available funds to the account of a Noteholder, if such Noteholder has provided the Indenture Trustee with wiring instructions in writing by five (5) Business Days prior to the related Record Date or has provided the Indenture Trustee with such instructions for any previous Payment Date or (ii) check mailed to such Person’s address as it appears in the Note Register on such Record Date, except for the Trustee will furnish the Issuer with a list of interest payments to be made on the following Interest Payment Date for each Certificated Note and in total for all Certificated Notes. Interest at Maturity will be payable to the Person to whom the payment final installment of principal is payable. The Trustee will provide monthly to the Issuer lists of principal and interest to be paid on Certificated Notes maturing in the next month. The Trustee will be responsible for withholding taxes on interest paid on Certificated Notes as required by applicable law. On the first Business Day of each month, the Trustee will deliver to the Issuer by facsimile transmission a written statement, indicating the total principal amount of Outstanding Certificated Notes for which it serves as trustee as of the immediately preceding Business Day. If any Interest Payment Date for a Fixed Rate Certificated Note is scheduled to occur on a day that is not a Business Day payable with respect to such Fixed Rate Certificated Note, which shall be payable as provided in subsection (b) of this Section 2.08. A fee may be charged by the Indenture Trustee to a Holder of Definitive Notes for any payment due made by wire transfer. Any installment of interest or principal not punctually paid or duly provided for shall be payable as soon as funds are available to the Indenture Trustee for payment thereof, or if Section 5.07 applies, pursuant to Section 5.07. Payments on such Interest Payment Date Certificates will be made by or on behalf of the Indenture Trustee to or at the direction of the Person in whose name such Certificate is registered by either (i) wire transfer of immediately available funds to the account directed by a Certificateholder, if such Certificateholder (A) is Accredited Home Lenders, Inc. or its affiliate and (B) has provided the Indenture Trustee with wiring instructions in writing by five (5) Business Days prior to the related payment Date or has provided the Indenture Trustee with such instructions for any previous Payment Date or (ii) check mailed to such Person’s address as it appears in the Certificate Register on such Record Date. A fee may be charged by the Indenture Trustee to a Certificateholder for any payment made by wire transfer. The Indenture Trustee shall be entitled to rely on information provided by the Owner Trustee as Certificate Registrar as to all matters related to the Certificate Registrar and the Certificates. (b) All reductions in the Class Note Balance of a Note (or one or more Predecessor Notes) effected by payments of installments of principal made on any Payment Date shall be binding upon all Holders of such Note and of any Note issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof, whether or not such payment is noted on such Note. The final installment of principal of each Note shall be payable only upon presentation and surrender thereof on or after the Payment Date therefor at the designated office of the Indenture Trustee located within the United States of America pursuant to Section 3.02. Whenever the Indenture Trustee expects that the entire unpaid Class Note Balance of any Note will become due and payable on the following day that is next Payment Date, other than pursuant to a redemption pursuant to Article X, it shall, no later than two (2) Business Day with respect Days prior to such Fixed Rate Certificated NotePayment Date, mail to each Person in whose name a Note to be so retired is registered at the close of business on such otherwise applicable Record Date a notice to the effect that: (i) the Indenture Trustee expects that funds sufficient to pay such final installment will be available in the Payment Account on such Payment Date; and (ii) if such funds are available, (a) such final installment will be payable on such Payment Date, but only upon presentation and surrender of such Note at the office or agency of the Note Registrar maintained for such purpose pursuant to Section 3.02 (the address of which shall be set forth in such notice) and (b) no interest shall accrue on such Note after such Payment Date. Notices in connection with redemptions of Notes shall be mailed to Noteholders in accordance with Section 10.02 hereof. (c) Subject to the foregoing provisions of this Section 2.08, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to unpaid principal and interest that were carried by such other Note. Any checks mailed pursuant to paragraph (a) of this Section 2.08 and returned undelivered shall be held in accordance with Section 3.03 hereof. (d) The Indenture Trustee’s Remittance Report, shall be prepared by the Indenture Trustee based on the loan level data provided in the Servicer Remittance Report delivered to the Indenture Trustee pursuant to the Sale and Servicing Agreement. The Indenture Trustee shall not have any responsibility to recalculate, verify or recompute information contained in any tape, electronic data file or disk or Servicer Remittance Report delivered to the Indenture Trustee pursuant to the Sale and Servicing Agreement except to the extent necessary to satisfy all obligations under this Section 2.08(d). Within thirty (30) days after the end of each calendar year, the Indenture Trustee will be required to furnish to each Person who at any time during the calendar year was a Noteholder, if requested in writing by such person, a statement containing the information set forth in subclauses (a), (b) and (c) in the definition of “Indenture Trustee’s Remittance Report,” aggregated for such calendar year. Such obligation will be deemed to have been satisfied to the extent that substantially comparable information is provided pursuant to any requirements of the Code as are from time to time in force. From time to time (but no more than once per calendar month), upon the written request of the Depositor, the Sponsor, the Servicer, the Indenture Trustee shall report to the Depositor, the Sponsor and the Servicer the amount payable on such Interest Payment Date for then held in each Account (including investment earnings accrued) held by the period from Indenture Trustee and after such Interest Payment Date to such following day that is a Business Day. If any Interest Payment Date for a Floating Rate Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Floating Rate Certificated Note, such Interest Payment Date will be the following day that is a Business Day with respect to such Floating Rate Certificated Note; PROVIDED, HOWEVER, that in identity of the case of a Floating Rate Certificated Note that is a LIBOR Note (or a Floating Rate Certificated Note for which LIBOR is the applicable Base Rate), if such Business Day is in the next succeeding calendar month, such Interest Payment Date will be the immediately preceding day that is a Business Day. If the date of Maturity of a Certificated Note is scheduled to occur on a day that is not a Business Day with respect to such Certificated Note, the payment due at Maturity will be made on the following day that is a Business Day with respect to such Certificated Note, and no interest shall accrue on the amount payable at Maturity for the period from and after the date of Maturityinvestments included therein.

Appears in 1 contract

Samples: Indenture (Accredited Mortgage Loan REIT Trust)

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