Claims Under Policy. The Notes will be insured by the Policy pursuant to the terms set forth therein, notwithstanding any provisions to the contrary contained in this Indenture or the Sale and Servicing Agreement. All amounts received under the Policy shall be used solely for the payment to Noteholders of principal and interest on the Notes.
Claims Under Policy. (a) If on any Determination Date the Servicer has reported to the Trustee in the Monthly Servicer Report that the Servicer has determined that (A) as of the opening of business of the Trustee on such Determination Date, the amount of Available Funds on deposit in the Collection Account, together with any amounts on deposit in the Reserve Account and the Note Payment Account, are insufficient to provide for the payment in full of the Interest Distributable Amount payable on the related Payment Date (after giving effect to each payment required to be made prior to such payment on such Payment Date pursuant to Section 4.04(b)), and/or (B) if such Payment Date is the Final Payment Date and the Note Balance has not been reduced to zero prior to such Determination Date, and all amounts then on deposit in the Collection Account, together with any amounts then on deposit in the Reserve Account and the Note Payment Account are insufficient to make a payment to the Noteholders reducing the Note Balance to zero (after giving effect to each payment required to be made prior to such payment on the Final Payment Date pursuant to Section 4.04(b)), then by 2:00 p.m., New York time on such Determination Date, the Trustee shall deliver to the Note Insurer and the Servicer a completed notice for payment in the form set forth as Exhibit A to the Policy (the "Notice for Payment"), and shall confirm delivery of such Notice for Payment, each as specified in the Policy. The Notice for Payment shall specify the amount of the Interest Deficiency Draw Amount and/or the Final Principal Deficiency Amount (as each such term is defined in the Policy) and shall constitute a claim pursuant to the Policy. Upon receipt of any payments on behalf of the Trust under the Policy, the Trustee shall deposit any Interest Deficiency Draw Amount and/or Principal Deficiency Draw Amount in the Note Payment Account. Such amounts shall be distributed pursuant to Section 4.04.
Claims Under Policy. 41 SECTION 4.02.
Claims Under Policy. (a) On each Determination Date, the Trustee shall determine from the related Servicer Report with respect to the immediately following Payment Date the Deficiency Amount, if any. If the Trustee determines that a Deficiency Amount would exist, the Trustee shall complete a Notice in the form of Exhibit A to the Policy and submit such Notice to the Insurer no later than 12:00 noon New York City time on the third Business Day preceding such Payment Date as a claim for payment in an amount equal to the Deficiency Amount. Amounts paid by the Insurer pursuant to a claim submitted under this Section 4.01, shall be deposited by the Trustee into the Collection Account for payment to Noteholders on the related Payment Date pursuant to Section 3.03(b).
Claims Under Policy. (a) In the event that the Indenture Trustee has delivered a Deficiency Notice with respect to any Determination Date, if the Policy Claim Amount for the related Payment Date is greater than zero, the Indenture Trustee shall furnish to the Insurer (with a copy to the Servicer) no later than 12:00 noon New York City time on the related Deficiency Claim Date a completed Notice of Claim in the amount of the Policy Claim Amount. Amounts paid by the Insurer under the Policy shall be deposited by the Indenture Trustee into the Note Distribution Account on the Business Day immediately preceding the Payment Date for payment to Noteholders on the related Payment Date. The "
Claims Under Policy. (a) In the event that the Indenture Trustee has delivered a Deficiency Notice with respect to any Determination Date pursuant to Section 5.4 of the Sale and Servicing Agreement, the Indenture Trustee shall on the related Draw Date determine the Policy Claim Amount for the related Payment Date. If the Policy Claim Amount for such Payment Date is greater than zero, the Indenture Trustee shall furnish to the Insurer no later than 3:00 p.m. New York City time on the related Draw Date a completed Notice of Claim in the amount of the Policy Claim Amount. Amounts paid by the Insurer pursuant to a claim submitted under this Section 5.18(a) shall be deposited by the Indenture Trustee into the Note Distribution Account for payment to Noteholders on the related Payment Date.
Claims Under Policy. Notwithstanding anything in this Agreement to the contrary, nothing herein shall affect or supersede the claims procedure set forth in any Policy with respect to claims arising under and governed by such Policy, including without limitation, claims for death proceeds.
Claims Under Policy. (a) In the event that the Trustee has delivered a Deficiency Notice with respect to any Determination Date, the Trustee shall determine on the related Draw Date whether the sum of (i) the amount of Available Funds with respect to such Determination Date (as stated in the Servicer's Certificate with respect to such Determination Date) plus (ii) the amount actually received by the Trustee from the Spread Account Trustee as a result of a Deficiency Notice with respect to such Distribution Date (as stated in the certificate delivered on the immediately preceding Deficiency Claim Date by the Spread Account Trustee pursuant to Section 3.03(a) of the Spread Account Agreement) would be insufficient, after giving effect to the distributions required by Section 5.5(b)(i)-(ii), to pay the Class A Distributable Amount for the related Distribution Date. If the above sum is insufficient, then the Trustee shall furnish to the Certificate Insurer no later than 10:00 a.m. New York City time on the related Draw Date a completed Notice of Claim in the amount of the shortfall in amounts so available to pay the Class A Interest Distributable Amount and the Class A Principal Distributable Amount with respect to such Distribution Date (the amount of any such shortfall being hereinafter referred to as the "Policy Claim Amount"). Amounts paid by the Certificate Insurer under the Policy shall be deposited by the Trustee into the Policy Payments Account and thereafter into the Collection Account for payment to Class A Certificateholders on the related Distribution Date (or promptly following payment on a later date as set forth in the Policy).
Claims Under Policy. (a) In accordance with the provisions of the Policy, FSA is required to pay to the Administrative Agent the Policy Claim Amount properly claimed thereunder by 12:00 noon, New York City time, on the later of (i) the third (3rd) Business Day (as defined in the Policy) following Receipt (as defined in the Policy) on a Business Day (as defined in the Policy) of the Notice of Claim, and (ii) the applicable Settlement Date. Any payment made by FSA under the Policy shall be applied solely to the payment of Yield and the Investment, and for no other purpose.
Claims Under Policy. (a) In the event that the Trustee has delivered a Deficiency Notice with respect to any Determination Date, the Trustee shall determine on the related Draw Date whether the sum of (i) the amount of Available Funds with respect to such Determination Date (as stated in the Servicer's Certificate with respect to such Determination Date) plus (ii) the amount of the Deficiency Claim Amount, if any, to be delivered by the Collateral Agent to the Trustee in accordance with Section 14.04(a) would be insufficient, after giving effect to the distributions required by Section 14.06(b)(i)-(ii), to pay the sum of the Interest Distributable Amount and the Principal Distributable Amount for the related Distribution Date, then in such event the Trustee shall furnish to the Certificate Insurer (with a copy to the Servicer) no later than 12:00 noon New York City time on the related Draw Date a completed Notice of Claim in the amount of the shortfall in amounts so available to pay the Interest Distributable Amount and the Principal Distributable Amount with respect to such Distribution Date (the amount of any such shortfall being hereinafter referred to as the "Policy Claim Amount"). Amounts paid by the Certificate Insurer under the Policy shall be deposited by the Trustee into the Policy Payments Account and thereafter into the Collection Account for payment to Certificateholders on the related Distribution Date (or promptly following payment on a later date as set forth in the Policy).
