Common use of Interest Drawings Clause in Contracts

Interest Drawings. If on any Regular Distribution Date (other than the Final Legal Distribution Date) after giving effect to the application of available funds in accordance with the subordination provisions of this Agreement and to the application of Prior Funds, the Subordination Agent does not then have sufficient funds available for the payment of all amounts due and owing in respect of accrued and unpaid interest on the Class G Certificates at the Stated Interest Rate on the Pool Balance of the Class G Certificates on such Distribution Date (“Accrued Class G Interest”), then the Subordination Agent (i) prior to 1:00 p.m. (New York City time) on such Distribution Date shall deliver a Notice for Payment, as provided in the Policy, to the Policy Provider or its fiscal agent, requesting a Policy Drawing under the Policy (for payment into the Policy Account) in an amount sufficient to enable the Subordination Agent to pay such Accrued Class G Interest and (ii) upon receipt shall pay such amount from the Policy Account to the Class G Trustee or the Escrow Agent for deposit to the Class G Paying Agent Account, as the case may be, in payment of such Accrued Class G Interest on such Distribution Date.

Interest Drawings. If on any Regular Distribution Date (other than the Final Legal Distribution Date) after giving effect to the application of available funds in accordance with the subordination provisions of this Agreement and to the application of Prior Funds, the Subordination Agent does not then have sufficient funds available for the payment of all amounts due and owing in respect of accrued and unpaid interest on the Class G Certificates at the applicable Stated Interest Rate on the Pool Balance of the Class G Certificates on such Distribution Date (“calculated assuming that Continental will not cure any Payment Default) ("Accrued Class G Interest”"), then the Subordination Agent (iA) prior to 1:00 12:00 p.m. (New York City time) on such Distribution Date shall deliver a Notice for Payment, as provided in the Policy, to the Policy Provider or and its fiscal agentFiscal Agent, requesting a Policy Drawing under the Policy (for payment into the Policy Account) in an amount sufficient to enable the Subordination Agent to pay such Accrued Class G Interest and (iiB) upon receipt shall pay such amount from the Policy Account to the Class G Trustee or the Escrow Agent for deposit to the Class G Paying Agent Account, as the case may be, in payment of such Accrued Class G Interest on such Distribution DateInterest.

Interest Drawings. If on any Regular Distribution Date (other than the Final Legal Distribution Date) after giving effect to the application of available funds in accordance with the subordination provisions priorities specified in Section 2.04 and Article III, and taking into account any Drawing paid under the Class G Primary Liquidity Facility in respect of this Agreement accrued interest and to any withdrawal of funds from the application Class G Primary Cash Collateral Account and the Class G Above-Cap Account in respect of Prior Fundssuch interest, the Subordination Agent does not then have sufficient funds available for the payment of all amounts due and owing in respect of accrued and unpaid interest on the Class G Certificates at the Stated Interest Rate on the Pool Balance of the Class G Certificates on such Distribution Date (“Accrued Class G Interest”), then the Subordination Agent (i) then, prior to 1:00 p.m. (New York City time) on such Regular Distribution Date Date, the Subordination Agent (i) shall deliver a Notice for Paymentof Nonpayment, as provided in the Policy, Policy to the Policy Provider or its fiscal agent, requesting a Policy Drawing under the Policy (for payment into the Policy Account) in an amount sufficient to enable the Subordination Agent to pay such Accrued Class G Interest and (ii) upon receipt shall pay such amount amount, when received, from the Policy Account to the Class G Trustee or the Escrow Agent for deposit to the Class G Paying Agent Account, as the case may be, in payment of such Accrued Class G Interest on such Distribution Date.

Interest Drawings. If on any Regular Distribution Date (other than the Final Legal Distribution Date) after giving effect to the application of available funds in accordance with the subordination provisions of this Agreement priorities specified in Section 2.04 and to Article III, and taking into account the application of Prior Fundsany Drawing paid under the Class G Liquidity Facility in respect of accrued interest and any withdrawal of funds from the Class G Cash Collateral Account in respect of such interest, the Subordination Agent does not then have sufficient funds available for the payment of all amounts due and owing in respect of accrued and unpaid interest on the Class G Certificates at the Stated Interest Rate on the Pool Balance of the Class G Certificates on such Distribution Date (“Accrued Class G Interest”), then the Subordination Agent (i) then, prior to 1:00 p.m. (New York City time) on such Distribution Date Date, the Subordination Agent (i) shall deliver a Notice for Paymentof Nonpayment, as provided in the Policy, Policy to the Policy Provider or its fiscal agent, requesting a Policy Drawing under the Policy (for payment into the Policy Account) in an amount sufficient to enable the Subordination Agent to pay such Accrued Class G Interest and (ii) upon receipt shall pay such amount from the Policy Account to the Class G Trustee or the Escrow Agent for deposit to the Class G Paying Agent Account, as the case may be, in payment of such Accrued Class G Interest on such Distribution Date.