Distribution of Insured Payments. With respect to any Distribution Date, in the event of an Insured Payment, the Trustee shall make such payments from the amount drawn under the respective Certificate Insurance Policy for such Distribution Date pursuant to this Article V. Any Insured Payment not required to make distributions pursuant to this Article V shall be returned to the Certificate Insurer.
Distribution of Insured Payments. With respect to any Distribution Date, in the event of an Insured Payment, the Trustee shall make such payments from the amount drawn under the Policy for the purposes specified in the Policy. The Certificate Insurer shall be deemed to be the assignee of the Holders of the Class A Certificates and the Class S Certificates to the extent of any amount of Insured Payments disbursed by the Trustee from proceeds of the Policy and to such extent, shall be the subrogee of each such Holder of such Certificates; provided, however, that any such right of subrogation inuring to the Certificate Insurer hereunder or otherwise shall be and is subordinated to the rights under this Agreement of the Holders of such Certificates and in accordance with Section 11.04.
Distribution of Insured Payments. [With respect to any Distribution Date, in the event of an Insured Payment, the Administrator shall make such payments from the amount drawn under the Certificate Insurance Policy pursuant to Section 4.01 for such Distribution Date in accordance with Section 5.01(a)(i), (ii), (iii) and (iv). The Certificate Insurer shall be deemed to be the assignee of the Holders of the Class [A] Certificates to the extent of any amount of Insured Payments disbursed by the Administrator from proceeds of the Certificate Insurance Policy and to such extent, shall be the subrogee of each such Holder of the Class [A] Certificates; provided, however, that any such right of subrogation inuring to the Certificate Insurer hereunder or otherwise shall be and is subordinated to the rights under this Agreement of the Holders of the Class [A] Certificates and in accordance with Section 5.01(a).]
Distribution of Insured Payments. With respect to any Distribution -------------------------------- Date, in the event of an Insured Payment, the Trustee shall make such payments from the amount drawn under the Certificate Insurance Policy pursuant to Section 4.01 for such Distribution Date in accordance with Section 5.01(a). The Certificate Insurer shall be deemed to be the assignee of the Holders of the Class A Certificates to the extent of any amount of Insured Payments disbursed by the Trustee from proceeds of the Certificate Insurance Policy and to such extent, shall be the subrogee of each such Holder of the Class A Certificates; provided, however, that any such right -------- ------- of subrogation inuring to the Certificate Insurer hereunder or otherwise shall be and is subordinated to the rights under this Agreement of the Holders of the Class A Certificates and in accordance with Section 5.01(a).
Distribution of Insured Payments. With respect to any Distribution Date, in the event of an Insured Payment, the Trustee shall make such payments from the amount drawn under the Certificate Insurance Policy for the purposes specified in the Policy. The Certificate Insurer shall be deemed to be the assignee of the Holders of the Group I Certificates, the Holders of the Class A-7 Certificates and the Holders of the Class A-8 Certificates to the extent of any amount of Insured Payments disbursed by the Trustee from proceeds of the Certificate Insurance Policy and to such extent, shall be the subrogee of each such Holder of the Group I Certificates, each such Holder of the Class A-7 Certificates and each such Holder of the Class A-8 Certificates; PROVIDED, HOWEVER, that any such right of subrogation inuring to the Certificate Insurer hereunder or otherwise shall be and is subordinated to the rights under this Agreement of the Holders of the Group I Certificates, the Holders of the Class A-7 Certificates and the Holders of the Class A-8 Certificates and in accordance with Section 11.04.
Distribution of Insured Payments. With respect to any Distribution Date, in the event of an Insured Payment, the Trustee shall make such payments from the amount drawn under the Certificate Insurance Policy for such Distribution Date pursuant to Section 4.01. Any Insured Payment not required to make distributions pursuant to clauses (i)(2) and (i)(3) of Section 5.01(a) shall be returned to the Certificate Insurer.
Distribution of Insured Payments. With respect to any Distribution Date, in the event of an Insured Payment, the Trustee shall make such payments from the amount drawn under the Policy for the purposes specified in the Policy. The Certificate Insurer shall be deemed to be the assignee of the Holders of the Class A-1 Certificates and the Holders of the Class A-2 Certificates to the extent of any amount of Insured Payments disbursed by the Trustee from proceeds of the Policy and to such extent, shall be the subrogee of each such Holder of the Class A-1 Certificates and each such Holder of the Class A-2 Certificates; provided, however, that any such right of subrogation inuring to the Certificate Insurer hereunder or otherwise shall be and is subordinated to the rights under this Agreement of the Holders of the Class A-1 Certificates and the Holders of the Class A-2 Certificates and in accordance with Section 11.04.
Distribution of Insured Payments. With respect to any Distribution Date, in the event of an Insured Payment, the Trustee shall make such payments from the amount drawn under the Certificate Insurance Policy for such Distribution Date pursuant to Section 4.04(a). Any Insured Payment not required to make distributions pursuant to Section 4.04(a) shall be returned to the Certificate Insurer. The Trustee shall allocate any Insured Payment first to any Current Interest remaining unpaid after giving effect to all distributions pursuant to Section 4.04(a) and second to the payment of each Class' applicable Coverage Deficit. Amounts to be paid to the Certificate Insurer by the Trustee under this Agreement will be paid by wire transfer of same day funds.
Distribution of Insured Payments. With respect to any Distribution Date, in the event of an Insured Payment, the Trustee shall make such payments from the amount drawn under the Policy for the purposes specified in the Policy. The Certificate Insurer shall be deemed to be the assignee of the Holders of the Class A Certificates to the extent of any amount of Insured Payments disbursed by the Trustee from proceeds of the Policy and to such extent, shall be the subrogee of each such Holder of such Certificates; provided, however, that any such right of subrogation inuring to the Certificate Insurer hereunder or otherwise shall be and is subordinated to the rights under this Agreement of the Holders of such Certificates and in accordance with Section 4.02.
Distribution of Insured Payments. With respect to any Distribution Date, in the event of an Insured Payment, the Trustee shall make such payments from the amount drawn under the Certificate Insurance Policy pursuant to Section 4.01 for such Distribution Date in accordance with Section 5.01(a)(ii), (iii), (iv), (v), (vi), (vii), (viii) and (ix). The Certificate Insurer shall be deemed to be the assignee of the Holders of the Class A Certificates to the extent of any amount of Insured Payments disbursed by the Trustee from proceeds of the Certificate Insurance Policy and to such extent, shall be the subrogee of each such Holder of the Class A Certificates; provided, however, that any such right of subrogation inuring to the Certificate Insurer hereunder or otherwise shall be and is subordinated to the rights under this Agreement of the Holders of the Class A Certificates and in accordance with Section 5.01(a).]
