Examples of Interest and Principal Payment Certification in a sentence
Any amounts paid by the Insurer to the Trustee shall be deposited into the Distribution Account and shall be paid by the Trustee or the Paying Agent to Holders in respect of the applicable principal and/or interest payment in accordance with the Interest and Principal Payment Certification, in each case, on the later of (i) the related Interest Payment Date and (ii) the Business Day received.
If the Company elects to pay interest by treating such amounts as PIK Interest as aforesaid, the Company shall so specify in the Interest and Principal Payment Certification which shall be delivered to the Trustee by no later than 11:00 a.m. New York City time on the third Business Day prior to the Interest Payment Date on which the respective interest payment is due and payable, which certification shall specify the amount of interest that will be payable in cash, if any, and in the form of PIK Interest.
Subject to Sections 2.14 and 4.12, the Trustee shall pay the amount specified in the Interest and Principal Payment Certification (as defined in the MBIA Credit Agreement) from the Distribution Account to the Holders on such Interest Payment Date.
The Interest and Principal Payment Certification shall set forth the principal amount of the Securities to be prepaid and the Make-Whole Premium.
The Interest and Principal Payment Certification shall set forth the principal amount of the Securities to be prepaid and the Make-Whole Premium, if any.
Subject to Sections 2.14 and 4.12, the Trustee shall pay the amount specified in the Interest and Principal Payment Certification from the Distribution Account to the Holders on such Interest Payment Date.
The Company shall not use any amounts deposited into the Mandatory Prepayment Account in any manner or for any purpose other than for transfer to the Collection Account and/or the Distribution Account in accordance with the relevant Interest and Principal Payment Certification and the MBIA Credit Agreement.
The Company shall not use any amounts deposited into the Mandatory Prepayment Account in any manner or for any purpose other than (i) prior to the Senior Collection Date, in accordance with the Senior Facility and (ii) on or after the Senior Collection Date, to be transferred into the Collection Account and/or the Distribution Account in accordance with the relevant Interest and Principal Payment Certification and the MBIA Credit Agreement.