Common use of Residual Proceeds Clause in Contracts

Residual Proceeds. With respect to each REMIC Pool, the Holders of the Residual Class shall be entitled to receive, on a pro rata basis and upon presentation and surrender of their Certificates to the Administrator, the proceeds of the remaining Assets, if any, after all required principal and interest payments on the related Classes have been made. The Guarantor hereby guarantees to such Holders the payment of such proceeds, if any, upon such surrender.

Residual Proceeds. With respect to each REMIC Pool, the Holders of the Residual Class shall be entitled to receive, on a pro rata basis and upon presentation and surrender of their Certificates to the AdministratorRegistrar, the proceeds of the remaining Assets, if any, after all required principal and interest payments on the related Classes have been made. The Guarantor Xxxxxxx Mac hereby guarantees to such Holders the payment of such proceeds, if any, upon such surrender.

Residual Proceeds. With respect to each REMIC Pool, the Holders of the Residual Class shall be entitled to receive, on a pro rata basis and upon presentation and surrender of their Certificates CertiÑcates to the AdministratorRegistrar, the proceeds of the remaining Assets, if any, after all required principal and interest payments on the related Classes have been made. The Guarantor Xxxxxxx Mac hereby guarantees to such Holders the payment of such proceeds, if any, upon such surrender.