Redemption Distribution Direction Sample Clauses
The Redemption Distribution Direction clause specifies how and to whom proceeds from a redemption event are to be distributed. In practice, this clause outlines the process for instructing the distributing party—such as a fund administrator or trustee—regarding the allocation of redemption amounts among investors or beneficiaries. For example, it may detail the timing, method, and account details for payments. Its core function is to ensure that redemption proceeds are distributed accurately and efficiently, minimizing disputes and administrative errors.
Redemption Distribution Direction. The Issuer shall render an accounting (each a “Redemption Distribution Direction”), determined as of the close of business on each Determination Date preceding a Redemption Distribution Date, and shall make available such Redemption Distribution Direction available to the Collateral Manager and the Trustee setting forth the amounts payable pursuant to each applicable clause of Section 11.1(a)(i) and Section 11.1(a)(ii), as applicable, on the related Redemption Distribution Date. Each Redemption Distribution Direction shall constitute instructions to the Trustee to withdraw funds from the Payment Account and pay or transfer such amounts set forth in such Redemption Distribution Direction in the manner specified and in accordance with the priorities established in Section 11.1 and Article XIII. No Redemption Distribution Direction will be required to be reviewed by the Independent accountants appointed pursuant to this Indenture.