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.
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.