Common use of Guaranty Payments Clause in Contracts

Guaranty Payments. The Guarantor unconditionally and irrevocably agrees to pay to each Trust the following amounts to the extent not otherwise available from funds in the Certificate Accounts pursuant to Section 4.03: (i) for each Class in the related Series on each Distribution Date, an amount equal to the Class Distribution Amount required to be distributed on such Distribution Date pursuant to Section 3.06; and (ii) for each Class in the related Series on the Final Distribution Date for that Class (other than an Interest Only Class), after giving effect to payments under clause (i) of this Subsection 4.04(a), the amount needed to reduce the Class Balance of such Class to zero on such Final Distribution Date. After the Guarantor is notified by the Trustee or applicable Paying Agent of the insufficiency of funds in the Certificate Accounts to cover all such amounts, the Guarantor will transfer amounts required to cover such insufficiency to one or more Certificate Accounts, or directly to the applicable Paying Agent, in immediately available funds on or before the applicable Distribution Date for payment to each related Trust. The Guaranty is limited to payment of the amounts specified in this Section 4.04. Any Guaranty Payment paid to the Trust by the Guarantor pursuant to this Section 4.04 that constitutes a distribution of principal will be taken into account for purposes of all future calculations of Class Factors.

Guaranty Payments. The Guarantor unconditionally and irrevocably agrees to pay to each the related Trust the following amounts to the extent not otherwise available from funds in the Certificate Accounts pursuant to Section 4.035.04: (i) for each Class in the related Series on each Distribution Date, an amount equal to the Class Distribution Amount as required to be distributed on such Distribution Date pursuant to Section 3.064.01 for that Trust on such Distribution Date; and (ii) for each Class in the related Series on the Final Distribution Date for that a Class of Certificates (other than an Interest Only Class), after giving effect to payments under clause (i) of this Subsection 4.04(a)Section 5.05, the amount needed to reduce the Class Aggregate Certificate Balance of such Class to zero on such Final Distribution Date. After the Guarantor is notified by the Trustee or applicable Paying Agent of the insufficiency of funds in the Certificate Accounts to cover all such amounts, the Guarantor will transfer any such amounts required to cover such the insufficiency to one or more Certificate Accounts, Accounts or directly to the applicable Paying Agent, Agent in immediately available funds on or before the applicable Distribution Date for payment to each related Trust. The Guaranty is limited to payment of the amounts specified in this Section 4.045.05. Any Guaranty Payment paid to the Trust by the Guarantor pursuant to this Section 4.04 5.05 that constitutes a distribution of principal will be taken into account deemed to be part of the related Class Principal Distribution Amount for purposes of all future calculations of Class Factors.

Guaranty Payments. The Guarantor unconditionally and irrevocably agrees to pay to each the Trust the following amounts to the extent not otherwise available from funds in the Certificate Accounts Account pursuant to Section 4.034.04: (i) for each Class in the related Series on each Distribution Date, an amount equal to the Class Certificate Distribution Amount required to be distributed on such Distribution Date pursuant to Section 3.063.05; and (ii) for each Class in the related Series on the Final Distribution Date for that a Class of Certificates (other than an Interest Only Class), after giving effect to payments under clause (i) of this Subsection 4.04(a4.05(a), the amount needed to reduce the Class Balance of such Class to zero on such Final Distribution Date. After the Guarantor is notified by the Trustee or applicable the Paying Agent of the insufficiency of funds in the Certificate Accounts to cover all such amounts, the Guarantor will transfer amounts required to cover such insufficiency to one or more the Certificate AccountsAccount, or directly to the applicable Paying Agent, in immediately available funds on or before the applicable Distribution Date for payment to each related the Trust. The Guaranty is limited to payment of the amounts specified in this Section 4.044.05. Any Guaranty Payment paid to the Trust by the Guarantor pursuant to this Section 4.04 4.05 that constitutes a distribution of principal will be taken into account for purposes of all future calculations of Class Factors.