Common use of Demand on Surety Bond Clause in Contracts

Demand on Surety Bond. If after giving effect to the deposit into the Series 2006-2 Distribution Account of the amount to be deposited in accordance with Section 3.5(a) and all other amounts described in clauses (i), (ii) and (iii) of this Section 3.5(e) together with any amounts to be deposited therein in accordance with Section 3.5(d) on the Series 2006-2 Termination Date, the amount to be deposited in the Series 2006-2 Distribution Account with respect to the Series 2006-2 Termination Date is or will be less than the Series 2006-2 Outstanding Principal Amount, 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 such insufficiency in accordance with the terms thereof and shall cause the proceeds thereof to be deposited in the Series 2006-2 Distribution Account.

Demand on Surety Bond. If after giving effect to the deposit into the Series 20062004-2 Distribution Account of the amount to be deposited in accordance with Section 3.5(a2.5(a) and all other amounts described in clauses (i), (ii) and (iii) of this Section 3.5(e) together with any amounts to be deposited therein in accordance with Section 3.5(d) on the Series 2006-2 Termination Date2.5(c), the amount to be deposited in the Series 20062004-2 Distribution Account with respect to the such Series 20062004-2 Termination Final Distribution Date is or will be less than the Series 2006-2 sum of the Class A-1 Outstanding Principal Amount and 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 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 20062004-2 Distribution Account.

Demand on Surety Bond. If after giving effect to the deposit into the Series 20062005-2 4 Distribution Account of the amount to be deposited in accordance with Section 3.5(a2.5(a) and all other amounts described in clauses (i), (ii) and (iii) of this Section 3.5(e) together with any amounts to be deposited therein in accordance with Section 3.5(d) on the Series 2006-2 Termination Date2.5(c), the amount to be deposited in the Series 20062005-2 4 Distribution Account with respect to the Series 20062005-2 Termination 4 Final Distribution Date is or will be less than the Series 2006-2 sum of the Class A-1 Outstanding Principal Amount and 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 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 20062005-2 4 Distribution Account.

Demand on Surety Bond. If after giving effect to the deposit into the Series 20062005-2 1 Distribution Account of the amount to be deposited in accordance with Section 3.5(a2.5(a) and all other amounts described in clauses (i), (ii) and (iii) of this Section 3.5(e) together with any amounts to be deposited therein in accordance with Section 3.5(d) on the Series 2006-2 Termination Date2.5(c), the amount to be deposited in the Series 20062005-2 1 Distribution Account with respect to the such Series 20062005-2 Termination 1 Final Distribution Date is or will be less than the Series 2006-2 sum of the Class A-1 Outstanding Principal Amount and 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 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 20062005-2 1 Distribution Account.