Deficiency Notice. (a) In the event that the Servicer's Certificate with respect to any Determination Date shall state that the amount of the Available Funds with respect to such Determination Date is less than the sum of the amounts payable on the related Distribution Date pursuant to clauses (i) through (vii) of Section 5.6(b) (such deficiency being a "Deficiency Claim Amount") then on the Deficiency Claim Date immediately preceding such Distribution Date, the Trustee shall deliver to the Indenture Collateral Agent, the Security Insurer, the Owner Trustee and the Servicer, by hand delivery, telex or facsimile transmission, a written notice (a "Deficiency Notice") specifying the Deficiency Claim Amount for such Distribution Date.
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Samples: Sale and Servicing (TMS Auto Holdings Inc), Sale and Servicing (TMS Auto Holdings Inc)
Deficiency Notice. (a) In the event that the Servicer's Certificate with respect to any Determination Date shall state that the amount of the Available Funds with respect to such Determination Date is less than the sum of the amounts payable on the related Distribution Payment Date pursuant to clauses (i) through (viiv) of Section 5.6(b5.6(a) (such deficiency being a "Deficiency Claim Amount") ), then on the Deficiency Claim Date immediately preceding such Distribution Payment Date, the Indenture Trustee shall deliver to the Indenture Collateral Agent, the Security Insurer, the Owner Trustee Trustee, the Servicer and the Backup Servicer, by hand delivery, telex or facsimile transmission, a written notice (a "Deficiency Notice") ), specifying the Deficiency Claim Amount for such Distribution Payment Date.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Ml Asset Backed Corp)
Deficiency Notice. (a) In the event that the Servicer's ----------------- Certificate with respect to any Determination Date shall state that the amount of the Available Funds with respect to such Determination Date is less than the sum of the amounts payable on the related Distribution Payment Date pursuant to clauses (i) through (viiv) of Section 5.6(b) (such deficiency being a "Deficiency Claim Amount") ), then on the Deficiency Claim Date immediately preceding such Distribution Payment Date, the Indenture Trustee shall deliver to the Indenture Collateral Agent, the Security Insurer, the Owner Trustee Trustee, the Servicer and the Backup Servicer, by hand delivery, telex or facsimile transmission, a written notice (a "Deficiency Notice") ), specifying the Deficiency Claim Amount for such Distribution Payment Date.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Prudential Securities Secured Financing Corp)
Deficiency Notice. (a) In the event that the Servicer's ----------------- Certificate with respect to any Determination Date shall state that the amount of the Available Funds with respect to such Determination Date is less than the sum of the amounts payable on the related Distribution Payment Date pursuant to clauses (i) through (viiv) of Section 5.6(b5.6(a) (such deficiency being a "Deficiency Claim Amount") ), then on the Deficiency Claim Date immediately preceding such Distribution Payment Date, the Indenture Trustee shall deliver to the Indenture Collateral Agent, the Security Insurer, the Owner Trustee Trustee, the Servicer and the Backup Servicer, by hand delivery, telex or facsimile transmission, a written notice (a "Deficiency Notice") ), specifying the Deficiency Claim Amount for such Distribution Payment Date.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Prudential Securities Secured Financing Corp)
Deficiency Notice. (a) In the event that the Servicer's Certificate with respect to any Determination Date shall state that the amount of the Available Funds with respect to such Determination Date is less than the sum of the amounts payable on the related Distribution Date pursuant to clauses (i) through (viiv) of Section 5.6(b) (such deficiency being a "Deficiency Claim Amount") then on the Deficiency Claim Date immediately preceding such Distribution Date, the Trustee shall deliver to the Indenture Collateral Agent, the Security Insurer, the Owner Trustee and the Servicer, by hand delivery, telex or facsimile transmission, a written notice (a "Deficiency Notice") specifying the Deficiency Claim Amount for such Distribution Date.
Appears in 1 contract
Deficiency Notice. (a) In the event that the Servicer's Certificate with respect to any Determination Date shall state that the amount of the Available Funds with respect to such Determination Date is less than the sum of the amounts payable on the related Distribution Payment Date pursuant to clauses (i) through (viiv) of Section 5.6(b) (such deficiency being a "Deficiency Claim Amount") ), then on the Deficiency Claim Date immediately preceding such Distribution Payment Date, the Indenture Trustee shall deliver to the Indenture Collateral Agent, the Security Insurer, the Owner Trustee Trustee, the Servicer and the Backup Servicer, by hand delivery, telex or facsimile transmission, a written notice (a "Deficiency Notice") ), specifying the Deficiency Claim Amount for such Distribution Payment Date.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Ml Asset Backed Corp)
Deficiency Notice. (a) In the event that the Servicer's Certificate with respect to any Determination Date shall state that the amount of the Available Funds with respect to such Determination Date is less than the sum of the amounts payable on the related Distribution Date pursuant to clauses (i) through (viiv) of Section 5.6(b) (such deficiency being a "Deficiency Claim Amount") then on the Deficiency Claim Date immediately preceding such Distribution Date, Date the Trustee shall deliver to the Indenture Collateral Agent, the Security Insurer, the Owner Trustee Trustee, the Insurer's Agent and the Servicer, by hand delivery, telex or facsimile transmission, a written notice (a "Deficiency Notice") specifying the Deficiency Claim Amount for such Distribution Date.
Appears in 1 contract
Samples: Sale and Servicing Agreement (FCC Receivables Corp)