Payments under the Policy. (a)(i) If the Servicing Certificate specifies a Policy Draw Amount for any Payment Date, the Indenture Trustee shall make a draw on the Policy in an amount specified in the Servicing Certificate for such Payment Date or, if no amount is specified, the Indenture Trustee shall make a draw on the Policy in the amount by which the amount on deposit in the Note Payment Account is less than interest due on the Notes on such Payment Date.
Appears in 11 contracts
Samples: GMACM Home Equity Loan Trust 2006-He2, GMACM Home Equity Loan Trust 2006-He1, Gmacm Home Equity Loan Trust 2005-He1
Payments under the Policy. (a)(ia) (i) If the Servicing Certificate specifies a Policy Draw Amount for any Payment Date, the Indenture Trustee shall make a draw on the Policy in an amount specified in the Servicing Certificate for such Payment Date or, if no amount is specified, the Indenture Trustee shall make a draw on the Policy in the amount by which the amount on deposit in the Note Payment Account is less than interest due on the Notes on such Payment Date.
Appears in 11 contracts
Samples: GMACM Home Equity Loan Trust 2007-He2, GMACM Home Equity Loan Trust 2006-He5, GMACM Home Equity Loan Trust 2007-He1
Payments under the Policy. (a)(ia) (i) If the Servicing Certificate specifies a Policy Draw Amount for any Payment Date, the Indenture Trustee shall make a draw on the Policy in an amount specified in the Servicing Certificate for such Payment Date or, if no amount is specified, the Indenture Trustee shall make a draw on the Policy in accordance with the amount by which terms of the amount on deposit in the Note Payment Account is less than interest due on the Notes on such Payment DatePolicy.
Appears in 2 contracts
Samples: Bear Stearns Asset Backed Securities Inc, Indenture (Bear Stearns Asset Backed Securities Inc)
Payments under the Policy. (a)(i) If the Servicing Certificate specifies a Policy Draw Amount for any Payment Date, the Indenture Trustee shall make a draw on the Policy in an amount specified in the Servicing Certificate for such Payment Date or, if no amount is specified, the Indenture Trustee shall make a draw on take the Policy action specified in the amount by which the amount on deposit in the Note Payment Account is less than interest due on the Notes on such Payment DateSection 3.28(b)(ii).
Appears in 2 contracts
Samples: Residential Asset Mort Prod Inc Gmacm Home Eq Ln Tr 2004 He1, Gmacm Home Equity Loan Backed Term Notes Ser 2003-He1
Payments under the Policy. (a)(i) If the Servicing Certificate specifies a Policy Draw Amount for any Payment Date, the Indenture Trustee shall make a draw on the related Policy in an amount specified in the Servicing Certificate for such Payment Date or, if no amount is specified, the Indenture Trustee shall make a draw on the related Policy in the amount by which the amount on deposit in the Note Payment Account is less than interest due on the Notes on such Payment Date.
Appears in 1 contract
