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

Claims Upon the Policy; Policy Payments Account. (a) If, at or before 12:00 p.m., New York time, on the second Business Day prior to a Distribution Date, the Trustee determines that an Insured Amount for such Distribution Date is greater than zero, then the Trustee shall give notice to the Certificate Insurer by telephone or telecopy of the amount of such Insured Amount. Such notice of such Insured Amount shall be confirmed in writing in the form set forth as Exhibit A to the Endorsement to the Policy, to the Certificate Insurer and the fiscal agent, if any, at or before 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, if any, 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 Insured Amount relates, as provided in the Endorsement to the Policy.

Claims Upon the Policy; Policy Payments Account. (a) If, at or before 12:00 p.m., New York time, by the close of business on the second third Business Day prior to a Distribution Date, the sum of the funds then on deposit in the Collection Account for the related Collection Period which are payable to the Investor Certificateholders pursuant to Sections 5.01(a), (b) and (g) (after giving effect to the distribution of the Trustee determines that an Insured Amount for Fee and the Premium), the amounts on deposit in the Spread Account and the amount, if any, deposited into the Collection Account pursuant to Section 4.05 are insufficient to pay the Guaranteed Distribution on such Distribution Date is greater than zeroDate, then the Trustee shall give notice to the Certificate Insurer Credit Enhancer by telephone or telecopy of the amount of such Insured equal to the Credit Enhancement Draw Amount. Such notice of such Insured Amount sum shall be confirmed in writing in the form set forth as Exhibit A to the Endorsement to of the Policy, to the Certificate Insurer Credit Enhancer and the fiscal agentFiscal Agent, if any, at or before 2:00 p.m. 10:00 a.m., New York time City time, on the second Business Day prior to such Distribution Date. Following Receipt (as defined in the Policy) receipt by the Certificate Insurer Credit Enhancer of such notice in such form, the Certificate Insurer Credit Enhancer or the fiscal agent, if any, Fiscal Agent will pay any amount payable under the Policy on the later to occur of (i) 12:00 noon noon, New York time City time, on the second Business Day following such receipt and (ii) 12:00 noon noon, New York time City time, on the Distribution Date to which such Insured Amount deficiency relates, as provided in the Endorsement to the Policy.

Claims Upon the Policy; Policy Payments Account. (a) If, at or before 12:00 2:00 p.m., New York time, on the second Business Day prior to a Distribution Date, the Trustee Securities Administrator determines that an Insured Amount a Guaranteed Distributions Shortfall for such Distribution Date is greater than zero, then the Trustee Securities Administrator shall give notice to the Certificate Insurer by telephone or telecopy of the amount of such Insured AmountGuaranteed Distributions Shortfall. Such notice of such Insured Amount Guaranteed Distributions Shortfall shall be confirmed in writing in the form set forth as Exhibit A to the Endorsement to the Policy, to the Certificate Insurer and the fiscal agent, if any, at or before 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, if any, 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 Insured Amount Guaranteed Distributions Shortfall relates, as provided in the Endorsement to the Policy.

Claims Upon the Policy; Policy Payments Account. (a) If, at or before 12:00 p.m., New York time, by the close of business on the second third Business Day prior to a Distribution Date, the sum of the funds then on deposit in the Collection Account for the related Collection Period which are payable to the Investor Certificateholders pursuant to Sections 5.01(a), (b) and (g) (after giving effect to the distribution of the Trustee determines that an Insured Amount for Fee and the Premium), the amounts on deposit in the Spread Account and the amount, if any, deposited into the Collection Account pursuant to Section 4.05 are insufficient to pay the Guaranteed Distribution on such Distribution Date is greater than zeroDate, then the Trustee shall give notice to the Certificate Insurer Credit Enhancer by telephone or telecopy of the amount of such Insured equal to the Credit Enhancement Draw Amount. Such notice of such Insured Amount sum shall be confirmed in writing in the form set forth as Exhibit A ___ to the Endorsement to of the Policy, to the Certificate Insurer Credit Enhancer and the fiscal agentFiscal Agent, if any, at or before 2:00 p.m. 10:00 a.m., New York time City time, on the second Business Day prior to such Distribution Date. Following Receipt (as defined in the Policy) receipt by the Certificate Insurer Credit Enhancer of such notice in such form, the Certificate Insurer Credit Enhancer or the fiscal agent, if any, Fiscal Agent will pay any amount payable under the Policy on the later to occur of (i) 12:00 noon noon, New York time City time, on the second Business Day following such receipt and (ii) 12:00 noon noon, New York time City time, on the Distribution Date to which such Insured Amount deficiency relates, as provided in the Endorsement to the Policy.