Common use of PAYMENTS UNDER THE BOND INSURANCE POLICY Clause in Contracts

PAYMENTS UNDER THE BOND INSURANCE POLICY. (a) On the second Business Day prior to any Payment Date and at such time as it shall deliver an acceleration notice to the Bondholders pursuant to Section 5.02, the Indenture Trustee on behalf of the Class A Bondholders shall make a draw on the Bond Insurance Policy in an amount, if any, equal to the Deficiency Amount. (b) If the Indenture Trustee determines that a Deficiency Amount will exist for the following Payment Date, then the Indenture Trustee shall submit a Notice (as defined in the Bond Insurance Policy) for payment in the amount of the Deficiency Amount to the Bond Insurer no later than 12:00 Noon, New York City time, on the second Business Day prior to the applicable Payment Date. Upon receipt of such Deficiency Amount in accordance with the terms of the Bond Insurance Policy, the Indenture Trustee shall deposit such Deficiency Amount in the Payment Account for distribution to the Class A Bondholders pursuant to Section 3.05 hereof or with respect to an acceleration pursuant to Section 5.02 hereof. In addition, a draw may be made under the Bond Insurance Policy in respect of any Preference Amount applicable to any of the Class A Bonds (as defined in and pursuant to the terms and conditions of the such Bond Insurance Policy) and the Indenture Trustee shall submit a Notice (as defined in such Bond Insurance Policy) for payment with respect thereto together with the other documents required to be delivered to the Bond Insurer pursuant to the Bond Insurance Policy in connection with a draw in respect of any Preference Amount.

PAYMENTS UNDER THE BOND INSURANCE POLICY. (a) On the second Business Day prior to immediately preceding any Payment Date and at such time as it shall deliver an acceleration notice to the Bondholders pursuant to Section 5.02Date, the Indenture Trustee on behalf of the Class A Bondholders shall make file a draw on notice of claim to the Bond Insurance Policy Insurer in an amount, if any, equal to the Deficiency Amount. (b) If the Indenture Trustee determines that a Deficiency Amount will exist for the following Payment Date, then the Indenture Trustee shall submit a Notice (as defined in the Bond Insurance Policy) for payment in the amount of the Deficiency Amount to the Bond Insurer no later than 12:00 Noon, New York City time, on the second Business Day prior to the applicable Payment Date. Upon receipt of such Deficiency Amount in accordance with the terms of the Bond Insurance Policy, the Indenture Trustee shall deposit such Deficiency Amount in the Payment Account for distribution to the Class A Bondholders pursuant to Section 3.05 hereof or with respect to an acceleration pursuant to Section 5.02 6.02 hereof. All amounts received by the Indenture Trustee under the Bond Insurance Policy shall remain uninvested. In addition, a draw claim may be made under the Bond Insurance Policy in respect of any Preference Amount applicable to any of the Class A Bonds (as defined in and pursuant to the terms and conditions of the such Bond Insurance Policy) and the Indenture Trustee shall submit a Notice (as defined in such the Bond Insurance Policy) for payment with respect thereto together with the other documents required to be delivered to the Bond Insurer pursuant to the Bond Insurance Policy in connection with a draw claim in respect of any Preference Amount.

PAYMENTS UNDER THE BOND INSURANCE POLICY. (a) On the second Business Day prior to any Payment Date and at such time as it shall deliver an acceleration notice to the Bondholders pursuant to Section 5.02, the Indenture Trustee on behalf of the Class A 1-A-1 Bondholders and Class 2-A-1 Bondholders shall make a draw on the Bond Insurance Policy in an amount, if any, equal to the Deficiency Amount. (b) If the Indenture Trustee determines that a Deficiency Amount will exist for the following Payment Date, then the Indenture Trustee shall submit a Notice (as defined in the Bond Insurance Policy) for payment in the amount of the Deficiency Amount to the Bond Insurer no later than 12:00 Noon, New York City time, on the second Business Day prior to the applicable Payment Date. Upon receipt of such Deficiency Amount in accordance with the terms of the Bond Insurance Policy, the Indenture Trustee shall deposit such Deficiency Amount in the Payment Account for distribution to the Class A 1-A-1 Bondholders and Class 2-A-1 Bondholders pursuant to Section 3.05 hereof or with respect to an acceleration pursuant to Section 5.02 hereof. In addition, a draw may be made under the Bond Insurance Policy in respect of any Preference Amount applicable to any of the Class A Bonds 1-A-1 Bondholders or Class 2-A-1 Bondholders (as defined in and pursuant to the terms and conditions of the such Bond Insurance Policy) and the Indenture Trustee shall submit a Notice (as defined in such Bond Insurance Policy) for payment with respect thereto together with the other documents required to be delivered to the Bond Insurer pursuant to the Bond Insurance Policy in connection with a draw in respect of any Preference Amount.

PAYMENTS UNDER THE BOND INSURANCE POLICY. (a) On the second Business Day prior to any Payment Date and at such time as it shall deliver an acceleration notice to the Bondholders pursuant to Section 5.02, the Indenture Trustee on behalf of the Class A Bondholders shall make a draw on the Bond Insurance Policy in an amount, if any, equal to the Deficiency Amount. (b) If the Indenture Trustee determines that a Deficiency Amount will exist for the following Payment Date, then the Indenture Trustee shall submit a Notice (as defined in the Bond Insurance Policy) for payment in the amount of the Deficiency Amount to the Bond Insurer no later than 12:00 Noon, New York City time, on the second Business Day prior to the applicable Payment Date. Upon receipt of such Deficiency Amount in accordance with the terms of the Bond Insurance Policy, the Indenture Trustee shall deposit such Deficiency Amount in the Payment Account for distribution to the Class A Bondholders pursuant to Section 3.05 hereof or with respect to an acceleration pursuant to Section 5.02 hereof. In addition, a draw may be made under the Bond Insurance Policy in respect of any Preference Amount applicable to any of the Class A Bonds Bondholders (as defined in and pursuant to the terms and conditions of the such Bond Insurance Policy) and the Indenture Trustee shall submit a Notice (as defined in such Bond Insurance Policy) for payment with respect thereto together with the other documents required to be delivered to the Bond Insurer pursuant to the Bond Insurance Policy in connection with a draw in respect of any Preference Amount.

PAYMENTS UNDER THE BOND INSURANCE POLICY. (a) On the second Business Day prior to any Payment Date and at such time as it shall deliver an acceleration notice to the Bondholders pursuant to Section 5.02, the Indenture Trustee on behalf of the Class A Bondholders shall make a draw on the Bond Insurance Policy in an amount, if any, equal to the Deficiency Amount. (b) If the Indenture Trustee determines that a Deficiency Amount will exist for the following Payment Date, then the Indenture Trustee shall submit a Notice (as defined in the Bond Insurance Policy) for payment in the amount of the Deficiency Amount to the Bond Insurer no later than 12:00 Noon, New York City time, on the second Business Day prior to the applicable Payment Date. Upon receipt of such Deficiency Amount in accordance with the terms of the Bond Insurance Policy, the Indenture Trustee shall deposit such Deficiency Amount in the Payment Account for distribution to the Class A Bondholders pursuant to Section 3.05 hereof hereof, or with respect to an acceleration of the Bonds, pursuant to Section 5.02 6.02 hereof. All amounts received by the Indenture Trustee under the Bond Insurance Policy shall remain uninvested. In addition, a draw claim may be made under the Bond Insurance Policy in respect of any Preference Amount applicable to any of the Class A Bonds (as defined in and pursuant to the terms and conditions of the such Bond Insurance Policy) and the Indenture Trustee shall submit a Notice (as defined in such the Bond Insurance Policy) for payment with respect thereto together with the other documents required to be delivered to the Bond Insurer pursuant to the Bond Insurance Policy in connection with a draw claim in respect of any Preference Amount.

PAYMENTS UNDER THE BOND INSURANCE POLICY. (a) On the second Business Day prior to any Payment Date and at such time as it shall deliver an acceleration notice to the Bondholders pursuant to Section 5.02, the Indenture Trustee on behalf of the Class A Bondholders shall make a draw on the Bond Insurance Policy in an amount, if any, equal to the Deficiency Amount. (b) If the Indenture Trustee determines that a Deficiency Amount will exist for the following Payment Date, then the Indenture Trustee shall submit a Notice (as defined in the Bond Insurance Policy) for payment in the amount of the Deficiency Amount to the Bond Insurer no later than 12:00 Noon, New York City time, on the second Business Day prior to the applicable Payment Date. Upon receipt of such Deficiency Amount in accordance with the terms of the Bond Insurance Policy, the Indenture Trustee shall deposit such Deficiency Amount in the Payment Account for distribution to the Class A Bondholders pursuant to Section 3.05 hereof or with respect to an acceleration pursuant to Section 5.02 5.04 hereof. In addition, a draw may be made under the Bond Insurance Policy in respect of any Preference Amount applicable to any of the Class A Bonds (as defined in and pursuant to the terms and conditions of the such Bond Insurance Policy) and the Indenture Trustee shall submit a Notice (as defined in such the Bond Insurance Policy) for payment with respect thereto together with the other documents required to be delivered to the Bond Insurer pursuant to the Bond Insurance Policy in connection with a draw in respect of any Preference Amount.

PAYMENTS UNDER THE BOND INSURANCE POLICY. (a) On the second Business Day prior to any Payment Date and at such time as it shall deliver an acceleration notice to the Bondholders pursuant to Section 5.02, the Indenture Trustee on behalf of the Class A Bondholders shall make a draw on the Bond Insurance Policy in an amount, if any, equal to the Deficiency Amount. (b) If the Indenture Trustee determines that a Deficiency Amount will exist for the following Payment Date, then the Indenture Trustee shall submit a Notice (as defined in the Bond Insurance Policy) for payment in the amount of the Deficiency Amount to the Bond Insurer no later than 12:00 Noon, New York City time, on the second Business Day prior to the applicable Payment Date. Upon receipt of such Deficiency Amount in accordance with the terms of the Bond Insurance Policy, the Indenture Trustee shall deposit such Deficiency Amount in the Payment Account for distribution to the Class A Bondholders pursuant to Section 3.05 hereof or with respect to an acceleration pursuant to Section 5.02 hereof. In addition, a draw may be made under the Bond Insurance Policy in respect of any Preference Amount applicable to any of the Class A Bonds (as defined in and pursuant to the terms and conditions of the such Bond Insurance Policy) and the Indenture Trustee shall submit a Notice (as defined in such Bond Insurance Policy) for payment with respect thereto together with the other documents required to be delivered to the Bond Insurer pursuant to the Bond Insurance Policy in connection with a draw in respect of any Preference Amount.

PAYMENTS UNDER THE BOND INSURANCE POLICY. (a) On the second Business Day prior to any Payment Date and at such time as it shall deliver an acceleration notice to the Bondholders pursuant to Section 5.02, the Indenture Trustee on behalf of the Class A A-1 Bondholders shall make a draw on the Bond Insurance Policy in an amount, if any, equal to the Deficiency Amount. (b) If the Indenture Trustee determines that a Deficiency Amount will exist for the following Payment Date, then the Indenture Trustee shall submit a Notice (as defined in the Bond Insurance Policy) for payment in the amount of the Deficiency Amount to the Bond Insurer no later than 12:00 Noon, New York City time, on the second Business Day prior to the applicable Payment Date. Upon receipt of such Deficiency Amount in accordance with the terms of the Bond Insurance Policy, the Indenture Trustee shall deposit such Deficiency Amount in the Payment Account for distribution to the Class A A-1 Bondholders pursuant to Section 3.05 hereof or with respect to an acceleration pursuant to Section 5.02 hereof. In addition, a draw may be made under the Bond Insurance Policy in respect of any Preference Amount applicable to any of the Class A A-1 Bonds (as defined in and pursuant to the terms and conditions of the such Bond Insurance Policy) and the Indenture Trustee shall submit a Notice (as defined in such Bond Insurance Policy) for payment with respect thereto together with the other documents required to be delivered to the Bond Insurer pursuant to the Bond Insurance Policy in connection with a draw in respect of any Preference Amount.