Insured Payment Date definition
Examples of Insured Payment Date in a sentence
In addition, on the Final Insured Payment Date or other final Payment Date (including the Payment Date following any purchase by the Master Servicer of the Home Loans pursuant to Section 8.08 of the Servicing Agreement), the amount to be paid pursuant to clause (ii) above shall be equal to the aggregate Note Balance of the Notes immediately prior to such Payment Date.
In accordance with the provisions of the Insurance Policy, the Insurer is required to pay to the Trustee the Insurance Policy Claim Amount properly claimed thereunder on the applicable Insured Payment Date.
In addition, on the Final Insured Payment Date or other final Payment Date (including the Payment Date following any purchase by the Master Servicer of the Home Loans pursuant to Section 8.08 of the Servicing Agreement), the amount to be paid pursuant to clause (ii) above shall be equal to the aggregate Note Balance of the Notes immediately prior to such Payment Date and, in addition to the foregoing, the Class A-IO Notes shall be paid the Adjusted Issue Price, if any.
Amounts paid by the Insurer pursuant to a claim submitted under this Section 6.1 shall be deposited by the Trustee into the Note Distribution Account for payment to Noteholders on the related Insured Payment Date.
In the event that the Standby Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Insured Payment Date, the Servicer shall cause a firm of independent certified public accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the fifth calendar day of the following month, reconcile the discrepancies.
In accordance with the provisions of the Note Policy, the Insurer is required to pay to the Trustee the Note Policy Claim Amount properly claimed thereunder by 12:00 noon, New York City time, on the later of (i) the third Business Day (as defined in the Note Policy) following receipt on a Business Day of the Notice of Claim, and (ii) the applicable Insured Payment Date.
The Standby Servicer shall use such computer diskette (or other electronic transmission) solely to verify certain information specified in Section 4.15(c) contained in the Servicer's Certificate delivered by the Servicer, and the Standby Servicer shall notify the Servicer and the Insurer of any discrepancies on or before the fourth Business Day immediately preceding the Insured Payment Date.
Such notice shall be mailed no later than five Business Days prior to the Final Insured Payment Date or such other Final Insured Payment Date and shall specify that payment of the principal amount and any interest due with respect to such Note at the Final Insured Payment Date or such other Final Insured Payment Date will be payable only upon presentation and surrender of such Note, and shall specify the place where such Note may be presented and surrendered for such final payment.
In addition, on the Final Insured Payment Date or other final Payment Date (including the Payment Date following any purchase by the Master Servicer of the Home Loans pursuant to Section 8.08 of the Servicing Agreement), the amount to be paid pursuant to clause (ii) above shall be equal to the aggregate Note Balance of the Notes immediately prior to such Payment Date and, in addition to the foregoing, the Class AIO Notes shall be paid the Adjusted Issue Price, if any.
Funds deposited in a Pledged Account on the day immediately preceding a Payment Date or Insured Payment Date upon the maturity of any Eligible Investments are not required to be invested overnight.