Claims Upon the Policy; Insurance Account. (a) If, on the Business Day next succeeding the Remittance Date, the Trustee determines that the funds that will be on deposit in the Distribution Account, to the extent distributable to the Holders of the Insured Certificates pursuant to Section 5.04 are insufficient to pay the related Guaranteed Distribution for such Distribution Date, the Trustee shall give notice by telephone or telecopy of the aggregate amount of such deficiency, confirmed in writing in the form set forth as Exhibit A to the endorsement of the Policy, to the Certificate Insurer at or before 12:00 noon, New York City time, on the Business Day prior to such Distribution Date. If, subsequent to such notice, and prior to payment by the Certificate Insurer pursuant to such notice, additional amounts are deposited in the Distribution Account, the Trustee shall reasonably promptly notify the Certificate Insurer and withdraw the notice or reduce the amount claimed, as appropriate.
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Samples: Pooling and Servicing Agreement (NAAC Alternative Loan Trust, Series 2004 - AP3), Pooling and Servicing Agreement (NAAC Alternative Loan Trust, Series 2004 - AP3), Pooling and Servicing Agreement (Nomura Home Equity Loan, Inc.)
