Common use of Demand on Surety Bond Clause in Contracts

Demand on Surety Bond. If after giving effect to the deposit into the Series 2003-3 Distribution Account of the amount to be deposited in accordance with Section 2.5(a) and all other amounts described in clauses (i), (ii) and (iii) of this Section 2.5(c), the amount to be deposited in the Series 2003-3 Distribution Account with respect to such Series 2003-3 Final Distribution Date is or will be less than the Class A-1 Outstanding Principal Amount, the Class A-2 Outstanding Principal Amount or the Class A-3 Outstanding Principal Amount, as the case may be, then the Trustee shall make a demand on the Surety Bond by 12:00 p.m. (New York City time) on the second Business Day preceding such Distribution Date in an amount equal to such insufficiency in accordance with the terms thereof and shall cause the proceeds thereof to be deposited in the Series 2003-3 Distribution Account.

Demand on Surety Bond. If after giving effect to the deposit into the Series 2003-3 2 Distribution Account of the amount to be deposited in accordance with Section 2.5(a) and all other amounts described in clauses (i), (ii) and (iii) of this Section 2.5(c), the amount to be deposited in the Series 2003-3 2 Distribution Account with respect to such Series 2003-3 2 Final Distribution Date is or will be less than the Class A-1 Outstanding Principal Amount, the Class A-2 Outstanding Principal Amount or the Class A-3 Outstanding Principal Amount, as the case may be, then the Trustee shall make a demand on the Surety Bond by 12:00 p.m. (New York City time) on the second Business Day preceding such Distribution Date in an amount equal to such insufficiency in accordance with the terms thereof and shall cause the proceeds thereof to be deposited in the Series 2003-3 2 Distribution Account.

Demand on Surety Bond. If after giving effect to the deposit into the Series 20032004-3 2 Distribution Account of the amount to be deposited in accordance with Section 2.5(a) and all other amounts described in clauses (i), (ii) and (iii) of this Section 2.5(c), the amount to be deposited in the Series 20032004-3 2 Distribution Account with respect to such Series 20032004-3 2 Final Distribution Date is or will be less than the sum of the Class A-1 Outstanding Principal Amount, Amount and the Class A-2 Outstanding Principal Amount Amount, or the Class A-3 Outstanding Principal Amount, as the case may be, then the Trustee shall make a demand on the Surety Bond by 12:00 p.m. noon (New York City time) on the second Business Day preceding such Distribution Date in an amount equal to such insufficiency in accordance with the terms thereof and shall cause the proceeds thereof to be deposited in the Series 20032004-3 2 Distribution Account.