Examples of Distributable Amounts in a sentence
It is acknowledged by Unitholders that such payments of Distributable Amounts shall be good and complete discharge to the Responsible Entity in respect of any liability to any person in respect of an entitlement to such Distributable Amount.
If the share of Distributable Amounts for a person determined under this clause 12 includes a fraction of a cent, the share is to be adjusted to the nearest cent below the amount calculated under this clause (as appropriate) and the fraction of the cent becomes an Asset of the Trust.
It is acknowledged by Unitholders that such payments of Distributable Amounts shall be good and complete discharge to the Trustee in respect of any liability to any person in respect of an entitlement to such Distributable Amount.
The Trustee must act on a direction given by a Unit Holder in such form as the Trustee requires to pay to a third party nominated in the direction all or part of the Unit Holder’s entitlement to distributions of Distributable Amounts under this clause 12 or under clause 20 on winding up.
All amounts remaining after the Clearing Account Series Distributable Amounts in respect of all Accelerated Series have been applied as described above shall be transferred back to the relevant Clearing Account and shall be subject to the security granted by the Issuer pursuant to Clause 8(A)(y) of the Trust Instrument in respect of the first Series of Notes in accordance with Clause 8(H) of the Trust Instrument in respect of the first Series of Notes.