Common use of Demand on Surety Bond Clause in Contracts

Demand on Surety Bond. If the sum of the Series 2003-5 Letter of Credit Amount and the Series 2003-5 Available Reserve Account Amount will be less than the Principal Deficit Amount on any Distribution Date, then the Trustee shall make a demand on the Surety Bond by 12:00 noon (New York City time) on the second Business Day preceding such Distribution Date in an amount equal to the Insured Principal Deficit Amount and shall cause the proceeds thereof to be deposited in the Series 2003-5 Distribution Account.

Demand on Surety Bond. If the sum of the Series 2003-5 3 Letter of Credit Amount and the Series 2003-5 3 Available Reserve Account Amount will be less than the Principal Deficit Amount on any Distribution Date, then the Trustee shall make a demand on the Surety Bond by 12:00 noon (New York City time) on the second Business Day preceding such Distribution Date in an amount equal to the Insured Principal Deficit Amount and shall cause the proceeds thereof to be deposited in the Series 2003-5 3 Distribution Account.

Demand on Surety Bond. If the sum of the Series 20032006-5 1 Letter of Credit Amount and the Series 20032006-5 1 Available Reserve Account Amount will be less than the Principal Deficit Amount on any Distribution Date, then the Trustee shall make a demand on the Surety Bond by 12:00 noon (New York City time) on the second Business Day preceding such Distribution Date in an amount equal to the Insured Principal Deficit Amount and shall cause the proceeds thereof to be deposited in the Series 20032006-5 1 Distribution Account.

Demand on Surety Bond. If the sum of the Series 20032005-5 2 Letter of Credit Amount and the Series 20032005-5 2 Available Reserve Account Amount will be less than the Principal Deficit Amount on any Distribution Date, then the Trustee shall make a demand on the Surety Bond by 12:00 noon (New York City time) on the second Business Day preceding such Distribution Date in an amount equal to the Insured Principal Deficit Amount and shall cause the proceeds thereof to be deposited in the Series 20032005-5 2 Distribution Account.

Demand on Surety Bond. If the sum of the Series 20032005-5 4 Letter of Credit Amount and the Series 20032005-5 4 Available Reserve Account Amount will be less than the Principal Deficit Amount on any Distribution Date, then the Trustee shall make a demand on the Surety Bond by 12:00 noon (New York City time) on the second Business Day preceding such Distribution Date in an amount equal to the Insured Principal Deficit Amount and shall cause the proceeds thereof to be deposited in the Series 20032005-5 4 Distribution Account.

Demand on Surety Bond. If the sum of the Series 20032005-5 1 Letter of Credit Amount and the Series 20032005-5 1 Available Reserve Account Amount will be less than the Principal Deficit Amount on any Distribution Date, then the Trustee shall make a demand on the Surety Bond by 12:00 noon (New York City time) on the second Business Day preceding such Distribution Date in an amount equal to the Insured Principal Deficit Amount and shall cause the proceeds thereof to be deposited in the Series 20032005-5 1 Distribution Account.

Demand on Surety Bond. If the sum of the Series 20032007-5 2 Letter of Credit Amount and the Series 20032007-5 2 Available Reserve Account Amount will be less than the Principal Deficit Amount on any Distribution Date, then the Trustee shall make a demand on the Surety Bond by 12:00 noon (New York City time) on the second Business Day preceding such Distribution Date in an amount equal to the Insured Principal Deficit Amount and shall cause the proceeds thereof to be deposited in the Series 20032007-5 2 Distribution Account.

Demand on Surety Bond. If the sum of the Series 2003-5 4 Letter of Credit Amount and the Series 2003-5 4 Available Reserve Account Amount will be less than the Principal Deficit Amount on any Distribution Date, then the Trustee shall make a demand on the Surety Bond by 12:00 noon (New York City time) on the second Business Day preceding such Distribution Date in an amount equal to the Insured Principal Deficit Amount and shall cause the proceeds thereof to be deposited in the Series 2003-5 4 Distribution Account.

Demand on Surety Bond. If the sum of the Series 20032004-5 2 Letter of Credit Amount and the Series 20032004-5 2 Available Reserve Account Amount will be less than the Principal Deficit Amount on any Distribution Date, then the Trustee shall make a demand on the Surety Bond by 12:00 noon (New York City time) on the second Business Day preceding such Distribution Date in an amount equal to the Insured Principal Deficit Amount and shall cause the proceeds thereof to be deposited in the Series 20032004-5 2 Distribution Account.

Demand on Surety Bond. If the sum of the Series 20032002-5 1 Letter of Credit Amount and the Series 20032002-5 1 Available Reserve Account Amount will be less than the Principal Deficit Amount on any Distribution Date, then the Trustee shall make a demand on the Surety Bond by 12:00 noon (New York City time) on the second Business Day preceding such Distribution Date in an amount equal to the Insured Principal Deficit Amount and shall cause the proceeds thereof to be deposited in the Series 20032002-5 1 Distribution Account.