Interest Distribution Date definition
Examples of Interest Distribution Date in a sentence
Interest accrued on each Lower Tier Accrual Class during each Interest Accrual Period prior to the Interest Accrual Period relating to the Initial Interest Distribution Date for the applicable Companion Class shall not be distributed thereon as interest but shall instead be added to the Class Balance thereof on the related Distribution Date.
All funds assumed to be reinvested at the applicable Assumed Reinvestment Rate shall be assumed to remain so invested until the Business Day next preceding the Principal Reduction Date or Interest Distribution Date on which they are required to be available in the Collection Account for application, in accordance with the terms hereof, to distributions of principal of or interest on the Certificates.
During the initial Interest Accrual Period (applicable to the Interest Distribution Date falling on ), the Class ___ Certificates will accrue interest at the rate of ___% per annum.
On each Distribution Date prior to the Initial Interest Distribution Date, interest accrued on the Accrual Certificates during the related Interest Accrual Period therefor shall not be distributable thereon but shall instead be added to the Class Certificate Principal Balance thereof on each Distribution Date.
The Calculation Agent shall notify the Trustee in writing of the amount of any recalculated Certificate Principal Balance and Pass-Through Rate on the later of two Business prior to Interest Distribution Date and the date on which the Calculation Agent receives notice of the Pass-Through Rate Adjustment Event.
Interest accrued with respect to the Accrual Class during any Interest Accrual Period shall not be distributed thereon as interest until the Initial Interest Distribution Date.
On or shortly after each Interest Distribution Date, the Trustee shall distribute with respect to each Unitholder of the Trust Fund of record at the close of business on the preceding Record Date an amount substantially equal to the Interest Distribution computed as of such Record Date.
Prior to the Initial Interest Distribution Date, interest accrued on the Accrual Certificates during the Interest Accrual Period prior to a Distribution Date shall not be distributed but instead shall be added to the Class Certificate Principal Balance thereof on such Distribution Date.
On each Interest Distribution Date prior to the Initial Interest Distribution Date for an Accrual Certificate, interest that has accrued (determined as described above) on such Certificate during the preceding Interest Accrual Period shall be added to the Current Principal Amount of such Certificate and shall thereafter accrue interest from [the date one month prior to] such Interest Distribution Date.
No later than the 13th calendar day after each Interest Distribution Date and the Final Distribution Date, the Depositor shall notify the Trustee in writing (which may be provided electronically) of any changes to or approve the filing of such Form 10-D and of any Additional Form 10-D Disclosure to be filed on the Form 10-D.