Group II Insured Payment definition

Group II Insured Payment. As defined in the Group II Certificate Insurance Policy.

Group II Insured Payment. An amount equal to the sum of (i) as of each Payment Date, the Group II Deficiency Amount and (ii) any unpaid Group II Preference Amount.

Group II Insured Payment. As defined in the Variable Rate Certificate Insurance Policy.

Examples of Group II Insured Payment in a sentence

• The Insurer's obligations hereunder with respect to a particular Group II Insured Payment shall be discharged to the extent funds equal to the applicable Group II Insured Payment are received by the Trustee, whether or not such funds are properly applied by the Trustee.

• To evidence such subrogation, the Trustee shall, or shall cause the Certificate Registrar to, note the Certificate Insurer's rights as subrogee on the registration books maintained by the Trustee or the Certificate Registrar upon receipt from the Certificate Insurer of proof of payment of any Group I Insured Payment or Group II Insured Payment, as applicable.

• Accordingly, pursuant to the Pooling and Servicing Agreement, this statement constitutes a notice for payment of [Group I] [Group II] Insured Payment in the amount of $___________ (the difference between (1) the amount set forth in (a)(iv) above and (2) the sum of the amounts set forth in (a)(i), (a)(ii) and (a)(iii) above in respect of the Certificates of such Group under the Surety Bond.

• Group II Insured Payments due hereunder unless otherwise stated herein will be disbursed by the Fiscal Agent to the Trustee on behalf of the Owners by wire transfer of immediately available funds in the amount of the Group II Insured Payment less, in respect of Group II Insured Payments related to Group II Preference Amounts, any amount held by the Trustee for the payment of such Group II Insured Payment and legally available therefor.

• To evidence such subrogation, the Trustee shall, or shall cause the Registrar to, note the Certificate Insurer's rights as subrogee on the registration books maintained by the Trustee or the Registrar upon receipt from the Certificate Insurer of proof of payment of any Group I Insured Payment or Group II Insured Payment, as applicable.

More Definitions of Group II Insured Payment

Group II Insured Payment means, (i) on each Distribution Date, an amount equal to (a) the Group II Class A Interest Distribution Amount minus Group II Available Funds and (b) the Group II Subordination Deficit (to the extent not covered by Cross-Collateralization Payments (as defined in the Prospectus Supplement)) and (ii) the unpaid Group II Preference Amount.

Group II Insured Payment means, the sum of (i) with respect to any Remittance Date, the related Deficiency Amount plus (ii) any unpaid Preference Amount.

Group II Insured Payment. The Insured Payment as defined in the Group II Policy.

Group II Insured Payment. As of any Payment Date, the sum of (x) the Group II Shortfall Amount for such Payment Date and (y) any Preference Amounts with respect to the Class A-6 Group II Certificates with respect to which the affected Owners have complied with the provisions of Section 7.3(g) hereof during the related Remittance Period.

Group II Insured Payment with respect to the Class A-2 Certificates, and as to any Payment Date, will equal the sum of (i) the excess, if any, of (a) the Class A-2 Current Interest over (b) the Group II Total Available Funds (after any deduction for the Group II Premium Amount and the Group II Trustee Fee), (ii) the Group II Subordination Deficit, if any (after applying the cross collateralization provisions of Section 7.5(d)(ii)(A) and (B) of the Agreement), (iii) the Group II Preference Amount and (iv) as of the Class A-2 Termination Date, an amount sufficient to reduce the certificate principal balance of the Class A-2 Certificates to zero.

Group II Insured Payment. With respect to any Payment Date, without duplication, (A) the excess, if any, of (i) the sum of the aggregate Current Interest of the Group II Class A Certificates (calculated, for this purpose with respect to the Swapped Certificates, using the Internal Pass-Through Rates for the corresponding Internal Certificates) and the then existing Group II Class A Overcollateralization Deficit, if any, over (ii) the Group II Total Available Funds after taking into account the portion of any Class A Principal Distribution Amount for Loan Group II to be actually distributed on such Payment Date without regard to any Insured Payment to be made with respect to such Payment Date, plus (B) an amount equal to the aggregate Preference Amount with respect to the Group II Class A Certificates plus (C) the Insured Swap Interest Payment, if any, for such Payment Date, plus (D) on the September 2028 Payment Date only, the excess, if any, of (i) the Certificate Principal Balance of the Class A-9 Certificates over (ii) the Group IIa Principal Distribution Amount for such Payment Date plus (E) on the September 1999 Payment Date only, the excess, if any, of (i) the Certificate Principal Balance of the Class A-11 Certificates over (ii) the Group IIb Principal Distribution Amount for such Payment Date.

Group II Insured Payment. As of any Payment Date, without duplication, (A) the excess, if any, of (i) the sum of the aggregate Current Interest for the Group II Class A Certificates and the then existing Group II Overcollateralization Deficit, if any, over (ii) the Group II Total Available Funds after taking into account the portion of any Principal Distribution Amount to be actually distributed on such Payment Date without regard to any Insured Payment to be made with respect to such Payment Date plus (B) an amount equal to the Preference Amount with respect to the Group II Class A Certificates over (ii) the Group II Principal Remittance Amount for such Payment Date, but not in excess of the Aggregate Insured Payment for such Payment Date.