Common use of Optional Deposits by the Insurer Clause in Contracts

Optional Deposits by the Insurer. The Insurer shall at any time, and from time to time, with respect to a Distribution Date, have the option (but shall not be required, except in accordance with the terms of the Note Policy) to deliver amounts no later than 12:00 noon Eastern time on such Distribution Date to the Trust Collateral Agent for deposit into the Collection Account for any of the following purposes: (i) to provide funds in respect of the payment of fees or expenses of any provider of services to the Trust with respect to such Distribution Date, or (ii) to include such amount to the extent that without such amount a draw would be required to be made on the Note Policy.

Appears in 10 contracts

Samples: Sale and Servicing (UPFC Auto Receivables Trust 2007-A), Sale and Servicing (UPFC Auto Receivables Corp.), Sale and Servicing (UPFC Auto Receivables Trust 2006-A)

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