Common use of Claims Upon the Policy; Policy Payments Account Clause in Contracts

Claims Upon the Policy; Policy Payments Account. (a) If, by the close of business on the third Business Day prior to a Distribution Date, the Trust Administrator determines that a Deficiency Amount for any Distribution Date is greater than zero, then the Trust Administrator shall give notice to the Certificate Insurer by telephone or telecopy of the amount of such Deficiency Amount. Such notice of such Deficiency Amount shall be confirmed in writing in the form set forth as Exhibit A to the Endorsement of the Policy, to the Certificate Insurer and the Fiscal Agent (as defined in the Policy), if any, at or before 10:00 a.m. New York time on the second Business Day prior to such Distribution Date. Following Receipt (as defined in the Policy) by the Certificate Insurer of such notice in such form, the Certificate Insurer or the Fiscal Agent will pay any amount payable under the Policy on the later to occur of (i) 12:00 noon New York time on the second Business Day following such receipt and (ii) 12:00 noon New York time on the Distribution Date to which such deficiency relates, as provided in the Endorsement to the Policy.

Claims Upon the Policy; Policy Payments Account. (a) If, by the close of business on the third Business Day prior to a Distribution Date, the Trust Administrator Trustee determines that a Deficiency Amount for any Distribution Date is greater than zero, then the Trust Administrator Trustee shall give notice to the Certificate Insurer by telephone or telecopy of the amount of such Deficiency Amount. Such notice of such Deficiency Amount shall be confirmed in writing in the form set forth as Exhibit A to the Endorsement of the Policy, to the Certificate Insurer and the Fiscal Agent (as defined in the Policy), if any, at or before 10:00 a.m. New York time on the second Business Day prior to such Distribution Date. Following Receipt (as defined in the Policy) by the Certificate Insurer of such notice in such form, the Certificate Insurer or the Fiscal Agent will pay any amount payable under the Policy on the later to occur of (i) 12:00 noon New York time on the second Business Day following such receipt and (ii) 12:00 noon New York time on the Distribution Date to which such deficiency relates, as provided in the Endorsement to the Policy.

Claims Upon the Policy; Policy Payments Account. (a) If, by the close of business at or before 2:00 p.m., New York time, on the third second Business Day prior to a Distribution Date, the Trust Administrator Trustee determines that a Deficiency Amount Guaranteed Distributions Shortfall for any such Distribution Date is greater than zero, then the Trust Administrator Trustee shall give notice to the Certificate Insurer by telephone or telecopy of the amount of such Deficiency AmountGuaranteed Distributions Shortfall. Such notice of such Deficiency Amount Guaranteed Distributions Shortfall shall be confirmed in writing in the form set forth as Exhibit A to the Endorsement of to the Policy, to the Certificate Insurer and the Fiscal Agent (as defined in the Policy), if any, at or before 10:00 a.m. 2:00 p.m. New York time on the second Business Day prior to such Distribution Date. Following Receipt (as defined in the Policy) by the Certificate Insurer of such notice in such form, the Certificate Insurer or the Fiscal Agent will pay any amount payable under the Policy on the later to occur of (i) 12:00 noon New York time on the second Business Day following such receipt and (ii) 12:00 noon New York time on the Distribution Date to which such deficiency Guaranteed Distributions Shortfall relates, as provided in the Endorsement to the Policy.

Claims Upon the Policy; Policy Payments Account. (a) If, by the close of business on the third Business Day prior to a Distribution Date, the Trust Administrator determines Trustee determines, based on the Remittance Report, that a Deficiency Amount for any Distribution Date is greater than zero, then the Trust Administrator Trustee shall give notice to the Certificate Insurer by telephone or telecopy of the amount of such Deficiency Amount. Such notice of such Deficiency Amount shall be confirmed in writing in the form set forth as Exhibit A to the Endorsement of the Policy, Policy to the Certificate Insurer and the Fiscal Agent (as defined in the Policy), if any, at or before 10:00 a.m. a.m., New York time time, on the second Business Day prior to such Distribution Date. Following Receipt (as defined in the Policy) receipt by the Certificate Insurer of such notice in such form, the Certificate Insurer or the Fiscal Agent will pay any amount payable under the Policy on the later to occur of (i) 12:00 noon noon, New York time time, on the second Business Day following such receipt and (ii) 12:00 noon noon, New York time time, on the Distribution Date to which such deficiency relates, as provided in the Endorsement Exhibit A to the Policy.

Claims Upon the Policy; Policy Payments Account. (a) If, by the close of business on the third Business Day prior to a Distribution Payment Date, the Trust Administrator determines Indenture Trustee determines, based on the Remittance Report, that a Deficiency Amount for any Distribution Payment Date is greater than zero, then the Trust Administrator Indenture Trustee shall give notice to the Certificate Insurer by telephone or telecopy of the amount of such Deficiency Amount. Such notice of such Deficiency Amount shall be confirmed in writing in the form set forth as Exhibit A to the Endorsement of the Policy, Policy to the Certificate Insurer and the Fiscal Agent (as defined in the Policy), if any, at or before 10:00 a.m. a.m., New York time time, on the second Business Day prior to such Distribution Payment Date. Following Receipt (as defined in the Policy) receipt by the Certificate Insurer of such notice in such form, the Certificate Insurer or the Fiscal Agent will pay any amount payable under the Policy on the later to occur of (i) 12:00 noon noon, New York time time, on the second Business Day following such receipt and (ii) 12:00 noon noon, New York time time, on the Distribution Payment Date to which such deficiency relates, as provided in the Endorsement Exhibit A to the Policy.

Claims Upon the Policy; Policy Payments Account. (a) If, by the close Close of business Business on the third Business Day prior to a Distribution Date, the Trust Administrator Trustee determines that a Deficiency Amount for any Distribution Date is greater than zero, then the Trust Administrator Trustee shall give notice to the Certificate Insurer by telephone or telecopy of the amount of such Deficiency Amount. Such notice of such Deficiency Amount shall be confirmed in writing in the form set forth as Exhibit A to the Endorsement of the Policy, to the Certificate Insurer and the Fiscal Agent (as defined in the Policy), if any, at or before 10:00 a.m. New York time on the second Business Day prior to such Distribution Date. Following Receipt (as defined in the Policy) by the Certificate Insurer of such notice in such form, the Certificate Insurer or the Fiscal Agent will pay any amount payable under the Policy on the later to occur of (i) 12:00 noon New York time on the second Business Day following such receipt and (ii) 12:00 noon New York time on the Distribution Date to which such deficiency relates, as provided in the Endorsement to the Policy.

Claims Upon the Policy; Policy Payments Account. (a) If, by the close of business on the third Business Day prior to a Distribution Payment Date, the Trust Administrator Indenture Trustee determines that a Deficiency Amount for any Distribution Payment Date is greater than zero, then the Trust Administrator Indenture Trustee shall give notice to the Certificate Note Insurer by telephone or telecopy of the amount of such Deficiency Amount. Such notice of such Deficiency Amount shall be confirmed in writing in the form set forth as Exhibit A to the Endorsement of the Policy, to the Certificate Note Insurer and the Fiscal Agent (as defined in the Policy), if any, at or before 10:00 a.m. New York time on the second Business Day prior to such Distribution Payment Date. Following Receipt (as defined in the Policy) by the Certificate Note Insurer of such notice in such form, the Certificate Note Insurer or the Fiscal Agent will pay any amount payable under the Policy on the later to occur of (i) 12:00 noon New York time on the second Business Day following such receipt and (ii) 12:00 noon New York time on the Distribution Date to which such deficiency relates, as provided in the Endorsement to the Policy.time

Claims Upon the Policy; Policy Payments Account. (a) If, by the close of business on the third Business Day prior to a Distribution Date, the Trust Administrator Trustee determines that a Deficiency Amount for any Distribution Date is greater than zero, then the Trust Administrator Trustee shall give notice to the Certificate Insurer by telephone or telecopy of the amount of such Deficiency Amount. Such notice of such Deficiency Amount shall be confirmed in writing in the form set forth as Exhibit A to the Endorsement of the Policy, to the Certificate Insurer and the Fiscal Agent (as defined in the Policy), if any, at or before 10:00 a.m. a.m., New York time time, on the second Business Day prior to such Distribution Date. Following Receipt (as defined in the Policy) receipt by the Certificate Insurer of such notice in such form, the Certificate Insurer or the Fiscal Agent will pay any amount payable under the Policy on the later to occur of (i) 12:00 noon noon, New York time time, on the second Business Day following such receipt and (ii) 12:00 noon noon, New York time time, on the Distribution Date to which such deficiency relates, as provided in the Endorsement to the Policy.

Claims Upon the Policy; Policy Payments Account. (a) If, by the close of business on the third Business Day prior to a Distribution Date, the Trust Administrator Trustee determines that a Deficiency Amount for any Distribution Date is greater than zero, then the Trust Administrator Trustee shall give notice to the Certificate Insurer by telephone or telecopy of the amount of such Deficiency Amount. Such notice of such Deficiency Amount shall be confirmed in writing in the form set forth as Exhibit A to the Endorsement of the Policy, to the Certificate Insurer and the Fiscal Agent (as defined in the Policy), if any, at or before 10:00 a.m. a.m., New York time time, on the second Business Day prior to such Distribution Date. Following Receipt (as defined in the Policy) receipt by the Certificate Insurer of such notice in such form, the Certificate Insurer or the Fiscal Agent will pay any amount payable under the Policy on the later to occur of (i) 12:00 noon noon, New York time time, on the second Business Day following such receipt 118 and (ii) 12:00 noon noon, New York time time, on the Distribution Date to which such deficiency relates, as provided in the Endorsement to the Policy.

Claims Upon the Policy; Policy Payments Account. (a) If, by the close of business on the third Business Day prior to a Distribution Date, the Trust Administrator determines determines, based on the Remittance Report, that a Deficiency Amount for any Distribution Date is greater than zero, then the Trust Administrator shall give notice to the Certificate Insurer by telephone or telecopy of the amount of such Deficiency Amount. Such notice of such Deficiency Amount shall be confirmed in writing in the form set forth as Exhibit A to the Endorsement of the Policy, Policy to the Certificate Insurer and the Fiscal Agent (as defined in the Policy), if any, at or before 10:00 a.m. a.m., New York time time, on the second Business Day prior to such Distribution Date. Following Receipt (as defined in the Policy) receipt by the Certificate Insurer of such notice in such form, the Certificate Insurer or the Fiscal Agent will pay any amount payable under the Policy on the later to occur of (i) 12:00 noon noon, New York time time, on the second Business Day following such receipt and (ii) 12:00 noon noon, New York time time, on the Distribution Date to which such deficiency relates, as provided in the Endorsement Exhibit A to the Policy.

Claims Upon the Policy; Policy Payments Account. (a) If, by the close Close of business Business on the third Business Day prior to a Distribution Date, the Trust Administrator Trustee determines that a Deficiency Amount for any Distribution Date is greater than zero, then the Trust Administrator Trustee shall give notice to the Certificate Insurer by telephone or telecopy of the amount of such Deficiency Amount. Such notice of such Deficiency Amount shall be confirmed in writing in the form set forth as Exhibit A to the Endorsement of the Policy, to the Certificate Insurer and the Fiscal Agent (as defined in the Policy), if any, at or before 10:00 a.m. 12:00 noon New York time on the second Business Day prior to such Distribution Date. Following Receipt (as defined in the Policy) by the Certificate Insurer of such notice in such form, the Certificate Insurer or the Fiscal Agent will pay any amount payable under the Policy on the later to occur of (i) 12:00 noon New York time on the second Business Day following such receipt and (ii) 12:00 noon New York time on the Distribution Date to which such deficiency relates, as provided in the Endorsement to the Policy.