Common use of Payments on the Financial Guaranty Insurance Policy Clause in Contracts

Payments on the Financial Guaranty Insurance Policy. (a) The Trustee will establish and maintain the Policy Payments Account, a separate special purpose trust account for the benefit of the Fixed Rate Group Certificateholders and the Financial Guaranty Insurer. The Trustee shall deposit or cause to be deposited any Insured Amounts or Additional Insurer Payments paid under the Financial Guaranty Insurance Policy in the Policy Payments Accounts and distribute such amounts only for the purpose of payment to the related Fixed Rate Group Certificateholders of the related Insured Amounts or Additional Insurer Payments and such amounts may not be used to satisfy any costs, expenses or liabilities of the Servicer, the Trustee or the Trust. Insured Amounts or Additional Insurer Payments deposited in the Policy Payments Account shall not be invested in Permitted Investments or otherwise, and shall be transferred to the Certificate Account on the related Distribution Date and disbursed by the Trustee to the related Fixed Rate Group Certificateholders in accordance with Section 5.01. As soon as possible, and in no event later than 9:00 a.m. (Los Angeles time) on the third Business Day immediately preceding the related Distribution Date, the Trustee shall determine whether an Insured Amount is required to be paid under the Financial Guaranty Insurance Policy with respect to such Distribution Date and, if so, shall immediately notify the Servicer and the Financial Guaranty Insurer by telephone, which notice shall be confirmed in writing by facsimile transmission, of the Trustee's intention so to file the applicable Notice of Claim. If by the close of business in Los Angeles on such date an Insured Amount is still required to be paid under the Financial Guaranty Insurance Policy with respect to such Distribution Date, the Trustee shall furnish the Financial Guaranty Insurer with a completed Notice of Claim in respect of such Insured Amount by 12:00 noon New York City time on the next succeeding Business Day and shall provide a copy thereof to the Servicer at or prior to the time such Notice of Claim is received by the Financial Guaranty Insurer. The Notice of Claim shall constitute a claim therefor pursuant to the Financial Guaranty Insurance Policy. In the event any funds are received by the Trustee from the Servicer prior to the close of business in Los Angeles on the Business Day following the transmission of a Notice of Claim to the Financial Guaranty Insurer, and such funds reduce the amount of the Insured Amount to which such Notice of Claim relates, the Insured Amount to which such Notice of Claim relates shall be reduced by a corresponding amount, and the Notice of Claim shall be deemed to have been rescinded to the extent of the reduction of the Insured Amount. Notification of any such reduction in the Insured Amount shall be given to the Financial Guaranty Insurer by the Trustee by no later than 8:00 A.M., Los Angeles time, on the related Distribution Date. The Financial Guaranty Insurer shall, pursuant to the Financial Guaranty Insurance Policy, pay to the Trustee the Insured Amount by 2:00 P.M., New York City time, on the later of (i) the Business Day following receipt of such Notice of Claim and (ii) such Distribution Date. The Trustee shall deposit or cause to be deposited such Insured Amount in the Certificate Account.

Payments on the Financial Guaranty Insurance Policy. (a) The Trustee will establish and maintain the Policy Payments Account, a separate special purpose trust account for the benefit of the Fixed Adjustable Rate Group Certificateholders and the Financial Guaranty Insurer. The Trustee shall deposit or cause to be deposited any Insured Amounts or Additional Insurer Payments paid under the Financial Guaranty Insurance Policy in the Policy Payments Accounts and distribute such amounts only for the purpose of payment to the related Fixed Adjustable Rate Group Certificateholders of the related Insured Amounts or Additional Insurer Payments and such amounts may not be used to satisfy any costs, expenses or liabilities of the Servicer, the Trustee or the Trust. Insured Amounts or Additional Insurer Payments deposited in the Policy Payments Account shall not be invested in Permitted Investments or otherwise, and shall be transferred to the Certificate Account on the related Distribution Date and disbursed by the Trustee to the related Fixed Adjustable Rate Group Certificateholders in accordance with Section 5.01. As soon as possible, and in no event later than 9:00 a.m. (Los Angeles time) [ ] on the third Business Day immediately preceding the related Distribution Date, the Trustee shall determine whether an Insured Amount is required to be paid under the Financial Guaranty Insurance Policy with respect to such Distribution Date and, if so, shall immediately notify the Servicer and the Financial Guaranty Insurer by telephone, which notice shall be confirmed in writing by facsimile transmission, of the Trustee's intention so to file the applicable Notice of Claim. If by the close of business in Los Angeles on such date an Insured Amount is still required to be paid under the Financial Guaranty Insurance Policy with respect to such Distribution Date, the Trustee shall furnish the Financial Guaranty Insurer with a completed Notice of Claim in respect of such Insured Amount by 12:00 noon New York City time [ ] on the next succeeding Business Day and shall provide a copy thereof to the Servicer at or prior to the time such Notice of Claim is received by the Financial Guaranty Insurer. The Notice of Claim shall constitute a claim therefor pursuant to the Financial Guaranty Insurance Policy. In the event any funds are received by the Trustee from the Servicer prior to the close of business in Los Angeles on the Business Day following the transmission of a Notice of Claim to the Financial Guaranty Insurer, and such funds reduce the amount of the Insured Amount to which such Notice of Claim relates, the Insured Amount to which such Notice of Claim relates shall be reduced by a corresponding amount, and the Notice of Claim shall be deemed to have been rescinded to the extent of the reduction of the Insured Amount. Notification of any such reduction in the Insured Amount shall be given to the Financial Guaranty Insurer by the Trustee by no later than 8:00 A.M., Los Angeles time[ ], on the related Distribution Date. The Financial Guaranty Insurer shall, pursuant to the Financial Guaranty Insurance Policy, pay to the Trustee the Insured Amount by 2:00 P.M., New York City time[ ], on the later of (i) the Business Day following receipt of such Notice of Claim and (ii) such Distribution Date. The Trustee shall deposit or cause to be deposited such Insured Amount in the Certificate Account.

Payments on the Financial Guaranty Insurance Policy. (a) The Trustee will establish and maintain the Policy Payments Account, a separate special purpose trust account for the benefit of the Fixed Rate Group Certificateholders and the Financial Guaranty Insurer. The Trustee shall deposit or cause to be deposited any Insured Amounts or Additional Insurer Payments paid under the Financial Guaranty Insurance Policy in the Policy Payments Accounts and distribute such amounts only for the purpose of payment to the related Fixed Rate Group Certificateholders of the related Insured Amounts or Additional Insurer Payments and such amounts may not be used to satisfy any costs, expenses or liabilities of the Servicer, the Trustee or the Trust. Insured Amounts or Additional Insurer Payments deposited in the Policy Payments Account shall not be invested in Permitted Investments or otherwise, and shall be transferred to the Certificate Account on the related Distribution Date and disbursed by the Trustee to the related Fixed Rate Group Certificateholders in accordance with Section 5.01. As soon as possible, and in no event later than 9:00 a.m. (Los Angeles time) on the third Business Day immediately preceding the related Distribution Date, the Trustee shall determine whether an Insured Amount is required to be paid under the Financial Guaranty Insurance Policy with respect to such Distribution Date and, if so, shall immediately notify the Servicer and the Financial Guaranty Insurer by telephone, which notice shall be confirmed in writing by facsimile transmission, of the Trustee's intention so to file the applicable Notice of Claim. If by the close of business in Los Angeles on such date an Insured Amount is still required to be paid under the Financial Guaranty Insurance Policy with respect to such Distribution Date, the Trustee shall furnish the Financial Guaranty Insurer with a completed Notice of Claim in respect of such Insured Amount by 12:00 noon New York City time on the next succeeding Business Day and shall provide a copy thereof to the Servicer at or prior to the time such Notice of Claim is received by the Financial Guaranty Insurer. The Notice of Claim shall constitute a claim therefor pursuant to the Financial Guaranty Insurance Policy. In the event any funds are received by the Trustee from the Servicer prior to the close of business in Los Angeles on the Business Day following the transmission of a Notice of Claim to the Financial Guaranty Insurer, and such funds reduce the amount of the Insured Amount to which such Notice of Claim relates, the Insured Amount to which such Notice of Claim relates shall be reduced by a corresponding amount, and the Notice of Claim shall be deemed to have been rescinded to the extent of the reduction of the Insured Amount. Notification of any such reduction in the Insured Amount shall be given to the Financial Guaranty Insurer by the Trustee by no later than 8:00 A.M., Los Angeles time, on the related Distribution Date. The Financial Guaranty Insurer shall, pursuant to the Financial Guaranty Insurance Policy, pay to the Trustee the Insured Amount by 2:00 P.M., New York City time, on the later of (i) the Business Day following receipt of such Notice of Claim and (ii) such Distribution Date. The Trustee shall deposit or cause to be deposited such Insured Amount in the Certificate Account.the

Payments on the Financial Guaranty Insurance Policy. (a) The On or before the Closing Date, the Issuer shall direct the Indenture Trustee will establish and maintain in writing to open, at the Corporate Trust Office, an account that shall be the "Policy Payments Account". All amounts that are deposited in the Policy Payments Account, Account shall be held by the Indenture Trustee in the Policy Payments Account as part of the Trust Estate as herein provided. The Indenture Trustee shall hold the Policy Payments Account as a separate special purpose trust account for the benefit of the Fixed Rate Group Certificateholders Bondholders and the Financial Guaranty Bond Insurer. The Indenture Trustee shall deposit or cause to be deposited any Insured Amounts or Additional Insurer Payments paid under the Financial Guaranty Insurance Policy in the Policy Payments Accounts Account and distribute such amounts only for the purpose of payment to the related Fixed Rate Group Certificateholders Bondholders of the related such Insured Amounts or Additional Insurer Payments and such amounts may not be used to satisfy any costs, expenses or liabilities of the Servicer, the Indenture Trustee or the TrustIssuer. Insured Amounts or Additional Insurer Payments deposited in the Policy Payments Account shall not be invested in Permitted Investments or otherwise, and shall be transferred to the Certificate Bond Account on the related Distribution Payment Date and disbursed paid by the Indenture Trustee to the related Fixed Rate Group Certificateholders Bondholders in accordance with Section 5.018.02(c). As soon as possible, and in no event later than 9:00 a.m. (Los Angeles time) on the third Business Day immediately preceding the related Distribution Payment Date, the Indenture Trustee shall determine whether an Insured Amount is required to be paid under the Financial Guaranty Insurance Policy with respect to such Distribution Payment Date and, if so, shall immediately notify the Servicer and the Financial Guaranty Insurer by telephone, which notice shall be confirmed in writing by facsimile transmission, of the Indenture Trustee's intention so to file the applicable Notice of Claim. If by the close of business in Los Angeles on such date an Insured Amount is still required to be paid under the Financial Guaranty Insurance Policy with respect to such Distribution Payment Date, the Indenture Trustee shall furnish the Financial Guaranty Bond Insurer with a completed Notice of Claim in respect of such Insured Amount by 12:00 noon New York City Eastern time on the next succeeding Business Day and shall provide a copy thereof to the Servicer at or prior to the time such Notice of Claim is received by the Financial Guaranty Bond Insurer. The Notice of Claim shall constitute a claim therefor pursuant to the Financial Guaranty Insurance Policy. In the event any funds are received by the Indenture Trustee from the Servicer prior to the close of business in Los Angeles by 2:00 p.m. Eastern time on the Business Day following the transmission of a Notice of Claim to the Financial Guaranty Bond Insurer, and such funds reduce the amount of the Insured Amount to which such Notice of Claim relates, the Insured Amount to which such Notice of Claim relates shall be reduced by a corresponding amount, and the Notice of Claim shall be deemed to have been rescinded to the extent of the reduction of the Insured Amount. Notification of any such reduction in the Insured Amount shall be given to the Financial Guaranty Bond Insurer by the Indenture Trustee by no later than 8:00 A.M., Los Angeles time, 3:00 p.m. Eastern time on the Business Day prior to the related Distribution Payment Date. The Financial Guaranty Bond Insurer shall, pursuant to the Financial Guaranty Insurance Policy, pay to the Indenture Trustee the Insured Amount by 2:00 P.M.p.m., New York City Eastern time, on the later of (i) the second Business Day following receipt of such Notice of Claim and (ii) such Distribution Payment Date. The Indenture Trustee shall deposit or cause to be deposited such Insured Amount in the Certificate AccountBond Account for distribution pursuant to Section 8.02(c).

Payments on the Financial Guaranty Insurance Policy. (a) The Trustee will establish and maintain the Policy Payments Account, a separate special purpose trust account for the benefit of the Fixed Adjustable Rate Group Certificateholders and the Financial Guaranty Insurer. The Trustee shall deposit or cause to be deposited any Insured Amounts or Additional Insurer Payments paid under the Financial Guaranty Insurance Policy in the Policy Payments Accounts and distribute such amounts only for the purpose of payment to the related Fixed Adjustable Rate Group Certificateholders of the related Insured Amounts or Additional Insurer Payments and such amounts may not be used to satisfy any costs, expenses or liabilities of the Servicer, the Trustee or the Trust. Insured Amounts or Additional Insurer Payments deposited in the Policy Payments Account shall not be invested in Permitted Investments or otherwise, and shall be transferred to the Certificate Account on the related Distribution Date and disbursed by the Trustee to the related Fixed Adjustable Rate Group Certificateholders in accordance with Section 5.01. As soon as possible, and in no event later than 9:00 a.m. (Los Angeles time) on the third Business Day immediately preceding the related Distribution Date, the Trustee shall determine whether an Insured Amount is required to be paid under the Financial Guaranty Insurance Policy with respect to such Distribution Date and, if so, shall immediately notify the Servicer and the Financial Guaranty Insurer by 80 86 telephone, which notice shall be confirmed in writing by facsimile transmission, of the Trustee's intention so to file the applicable Notice of Claim. If by the close of business in Los Angeles on such date an Insured Amount is still required to be paid under the Financial Guaranty Insurance Policy with respect to such Distribution Date, the Trustee shall furnish the Financial Guaranty Insurer with a completed Notice of Claim in respect of such Insured Amount by 12:00 noon New York City time on the next succeeding Business Day and shall provide a copy thereof to the Servicer at or prior to the time such Notice of Claim is received by the Financial Guaranty Insurer. The Notice of Claim shall constitute a claim therefor pursuant to the Financial Guaranty Insurance Policy. In the event any funds are received by the Trustee from the Servicer prior to the close of business in Los Angeles on the Business Day following the transmission of a Notice of Claim to the Financial Guaranty Insurer, and such funds reduce the amount of the Insured Amount to which such Notice of Claim relates, the Insured Amount to which such Notice of Claim relates shall be reduced by a corresponding amount, and the Notice of Claim shall be deemed to have been rescinded to the extent of the reduction of the Insured Amount. Notification of any such reduction in the Insured Amount shall be given to the Financial Guaranty Insurer by the Trustee by no later than 8:00 A.M., Los Angeles time, on the related Distribution Date. The Financial Guaranty Insurer shall, pursuant to the Financial Guaranty Insurance Policy, pay to the Trustee the Insured Amount by 2:00 P.M., New York City time, on the later of (i) the Business Day following receipt of such Notice of Claim and (ii) such Distribution Date. The Trustee shall deposit or cause to be deposited such Insured Amount in the Certificate Account.