Examples of Disbursement Notice in a sentence
Each Disbursement Notice shall be delivered to such Public Shareholder at least two business days prior to the disbursement of any Property pursuant to Section 1(i) or Section 1(j) and no Property shall be disbursed from the Trust Account prior to the date that is two business days from the applicable Disbursement Notice Date.
Each person receiving direction or a notice (including, without limitation, a Disbursement Notice) from the Servicer and Supplemental Servicer, in each case as Disbursing Agent, pertaining to the payment of Supplemental Servicing Fees or reimbursement for Supplemental Delinquency Advances shall disregard the direction or notice from the Servicer and act in accordance with the direction or notice from the Supplemental Servicer.
All amounts subject to disagreement shall be deposited into the Principal and Interest Account for the related Trust (and the Servicer acknowledges and agrees that the Supplemental Servicer may issue a Disbursement Notice to the Clearing Bank so instructing the Clearing Bank) and shall not be disbursed from such Principal and Interest Account until the earlier of resolution or the next Monthly Remittance Date.
On each Business Day during each Remittance Period on which there is an unreimbursed Supplemental Delinquency Advance, the Disbursing Agent shall, on a Trust Group-by-Trust Group basis, issue a Disbursement Notice to reimburse the Supplemental Servicer from Net Collections held in the Clearance Account for all outstanding Supplemental Delinquency Advances prior to payment of any amount from Net Collections to the Servicer (or a successor servicer) or to the Principal and Interest Account.
To the extent any amounts remain in the Clearance Account after such amounts have been paid, the Disbursing Agent shall issue a Disbursement Notice directing the Clearing Bank to deposit the Daily Collections into the Principal and Interest Account for the related Trust.