Common use of Deficiency Notice Clause in Contracts

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 (iii) and (iv) of Section 5.6(a) remaining after application of clauses (i) and (ii) of Section 5.6(a) (any such deficiency being a “Note Policy Claim Amount”), then on the Deficiency Claim Date immediately preceding such Distribution Date the Trustee, based solely on the information provided in the Servicer’s Certificate, shall deliver to the Indenture Collateral Agent, the Security Insurer, the fiscal agent of the Security Insurer, the Owner Trustee, the Insurer’s Agent and the Servicer, by hand delivery, telex or facsimile transmission, a written notice (a “Deficiency Notice”) in accordance with the terms of the Note Policy specifying the Note Policy Claim Amount for such Distribution Date. (b) Any Deficiency Notice shall be delivered by 10:00 a.m., New York City time, on the related Deficiency Claim Date. The amounts distributed to the Trustee pursuant to a Deficiency Notice shall be deposited by the Trustee into the Note Distribution Account pursuant to Section 5.5.

Deficiency Notice. (a) In the event that the Servicer’s '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 (iiii) and through (ivvii) of Section 5.6(a) remaining after application of clauses (i) and (ii) of Section 5.6(a5.6(b) (any such deficiency being a “Note Policy "Deficiency Claim Amount”), ") then on the Deficiency Claim Date immediately preceding such Distribution Date Date, the Trustee, based solely on the information provided in the Servicer’s Certificate, Trustee shall deliver to the Indenture Collateral Agent, the Security Insurer, the fiscal agent of the Security Insurer, the Owner Trustee, the Insurer’s Agent Trustee and the Servicer, by hand delivery, telex or facsimile transmission, a written notice (a “"Deficiency Notice”") in accordance with the terms of the Note Policy specifying the Note Policy Deficiency Claim Amount for such Distribution Date. (b) Any Deficiency Notice shall be delivered by 10:00 a.m.am., New York City time, on the related Deficiency Claim Date. The amounts distributed to the Trustee pursuant to a Deficiency Notice shall be deposited by the Trustee into the Note Distribution Collection Account pursuant to Section 5.5.

Deficiency Notice. (a) In the event that the Servicer’s '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 (iii) and (iv) of Section 5.6(a) remaining after application of clauses (i) and (ii) of Section 5.6(a) (any such deficiency being a “"Note Policy Claim Amount”"), then on the Deficiency Claim Date immediately preceding such Distribution Date the Trustee, based solely on the information provided in the Servicer’s 's Certificate, shall deliver to the Indenture Collateral Agent, the Security Insurer, the fiscal agent of the Security Insurer, the Owner Trustee, the Insurer’s 's Agent and the Servicer, by hand delivery, telex or facsimile transmission, a written notice (a “"Deficiency Notice”") in accordance with the terms of the Note Policy specifying the Note Policy Claim Amount for such Distribution Date. (b) Any Deficiency Notice shall be delivered by 10:00 a.m., New York City time, on the related Deficiency Claim Date. The amounts distributed to the Trustee pursuant to a Deficiency Notice shall be deposited by the Trustee into the Note Distribution Collection Account pursuant to Section 5.5.

Deficiency Notice. (a) In the event that the Servicer’s '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 (x) the related Distribution Date pursuant to clauses (iiii) and through (ivv) of Section 5.6(a5.6(b) remaining after application of clauses or (y) on the Class A-1 Final Scheduled Distribution Date pursuant to clause (i) and (ii) of Section 5.6(a5.6(c) (any in each case, such deficiency being a “Note Policy "Deficiency Claim Amount”), ") then on the Deficiency Claim Date immediately preceding such Distribution Date or the TrusteeClass A-1 Final Scheduled Distribution Date, based solely on as applicable, the information provided in the Servicer’s Certificate, Trustee shall deliver to the Indenture Collateral Agent, the Security Insurer, the fiscal agent of the Security Insurer, the Owner Trustee, the Insurer’s 's Agent and the Servicer, by hand delivery, telex or facsimile transmission, a written notice (a “"Deficiency Notice”") in accordance with the terms of the Note Policy specifying the Note Policy Deficiency Claim Amount for such Distribution Date. (b) Any Deficiency Notice shall be delivered by 10:00 a.m.am., New York City time, on the related Deficiency Claim Date. The amounts distributed to the Trustee pursuant to a Deficiency Notice shall be deposited by the Trustee into the Note Distribution Collection Account pursuant to Section 5.5.

Deficiency Notice. (a) In the event that the Servicer’s '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 (iii) and (iv) of Section 5.6(a5.6(b) remaining after application of clauses (i) and (ii) of Section 5.6(a5.6(b) (any such deficiency being a “"Note Policy Claim Amount”"), then on the Deficiency Claim Date immediately preceding such Distribution Date the Trustee, based solely on the information provided in the Servicer’s 's Certificate, shall deliver to the Indenture Collateral Agent, the Security Insurer, the fiscal agent of the Security Insurer, the Owner Trustee, the Insurer’s 's Agent and the Servicer, by hand delivery, telex or facsimile transmission, a written notice (a “"Deficiency Notice”") in accordance with the terms of the Note Policy specifying the Note Policy Claim Amount for such Distribution Date. (b) Any Deficiency Notice shall be delivered by 10:00 a.m., New York City time, on the related Deficiency Claim Date. The amounts distributed to the Trustee pursuant to a Deficiency Notice shall be deposited by the Trustee into the Note Distribution Collection Account pursuant to Section 5.5.