Common use of Maintenance of the Certificate Insurance Policy; Collections Thereunder Clause in Contracts

Maintenance of the Certificate Insurance Policy; Collections Thereunder. (a) Prior to noon New York City time on the third Business Day prior to each Distribution Date, the Master Servicer shall, with respect to the Insured Certificates, determine if a Deficiency Amount for such Distribution Date exists and, if so, shall immediately notify the Trustee in writing of such amount; the Trustee, upon receipt of such notice, shall complete the Notice and submit such Notice in accordance with the Certificate Insurance Policy to the Certificate Insurer no later than noon, New York City time, on the second Business Day immediately preceding such Distribution Date, as a claim for an Insured Payment in an amount equal to such Deficiency Amount. If at any time the Trustee receives a certified copy of an order of an appropriate court that any payment of principal and interest on the Insured Certificates constitutes a Preference Amount, the Trustee, at the expense of the Trust, shall take the actions required on its part by the terms of the Certificate Insurance Policy to obtain payment of such Preference Amount by the Certificate Insurer.

Maintenance of the Certificate Insurance Policy; Collections Thereunder. (a) Prior to noon New York City time on the third Business Day prior to each Distribution Date, the Master Servicer shall, with respect to the Insured Certificates, determine if a Deficiency Amount for such Distribution Date exists and, if so, shall immediately notify the Trustee and the Certificate Insurer in writing of such amount; the Trustee, upon receipt of such notice, shall complete the Notice of Claim and submit such Notice of Claim in accordance with the Certificate Insurance Policy to the Certificate Insurer no later than noon, New York City time, on the second Business Day immediately preceding such Distribution Date, as a claim for an Insured Payment Amount in an amount equal to such Deficiency Amount. If at any time the Trustee receives a certified copy of an order of an appropriate court that any payment of principal and interest on the Insured Certificates constitutes a Preference Amount, the Trustee, at the expense of the TrustServicer, shall take the actions required on its part by the terms of the Certificate Insurance Policy to obtain payment of such Preference Amount by the Certificate Insurer.