Insurer Optional Deposit definition
Insurer Optional Deposit means, with respect to any Distribution Date, an amount delivered by the Insurer pursuant to Section 5.11, at its sole option, other than amounts in respect of an Insured Payment (as defined in the Note Policy), to the Trust Collateral Agent for deposit into the Collection Account for any of the following purposes: (i) to provide funds in respect of the payment of fees or expenses of any provider of services to the Trust with respect to such Distribution Date; or (ii) to include such amount as part of the Additional Funds Available for such Distribution Date to the extent that without such amount a draw would be required to be made on the Note Policy.
Insurer Optional Deposit means, for any Distribution Date, an amount other than an Insured Payment delivered by the Insurer, at its sole option, for deposit into the Collection Account for any of the following purposes: to provide funds to pay the fees or expenses of any of the Issuer's service providers for the Distribution Date; or to include those amounts as part of Additional Funds Available for the Distribution Date to the extent that without them a draw would be required to be made on the Note Policy.
Insurer Optional Deposit means, with respect to any Insured Distribution Date, an amount delivered by the Insurer pursuant to Section 5.11, at its sole option, other than amounts in respect of a Note Policy Claim Amount, to the Trust Collateral Agent for deposit into the Collection Account for any of the following purposes: (i) to provide funds in respect of the payment of fees or expenses of any provider of services to the Trust with respect to such Insured Distribution Date; or (ii) to include such amount as part of the Distribution Amount for such Insured Distribution Date to the extent that without such amount a draw would be required to be made on the Note Policy.
Examples of Insurer Optional Deposit in a sentence
The Insurer will at any time, and from time to time, with respect to a Distribution Date, have the option (but will not be required, except in accordance with the terms of the Note Policy) to deliver an Insurer Optional Deposit to the Indenture Trustee for deposit into the Collection Account.
If any successor Servicer is appointed for any reason other than the Backup Servicer's refusal to act as Servicer although legally able to do so, the Security Insurer and such successor Servicer may agree on additional compensation to be paid to such successor Servicer, which additional compensation may be payable by the Security Insurer as a Security Insurer Optional Deposit.
The Insurer, may, but shall not be required to make an Insurer Optional Deposit with respect to any Payment Date by delivering such Insurer Optional Deposit to the Indenture Trustee for deposit into the Collection Account on or prior to the related Payment Date.
More Definitions of Insurer Optional Deposit
Insurer Optional Deposit has the meaning specified in Section 5.10 of this Agreement.
Insurer Optional Deposit means, with respect to any Distribution Date, an amount delivered by the Insurer pursuant to Section 5.12, at its sole option, other than amounts in respect of a Note Policy Claim Amount to the Trust Collateral Agent for deposit into the Collection Account for any of the following purposes: (i) to provide funds in respect of the payment of fees or expenses of any provider of services to the Trust with respect to such Distribution Date; or (ii) to include such amount as part of the Distribution Amount for such Distribution Date to the extent that without such amount a draw would be required to be made on the Note Policy.
Insurer Optional Deposit. With respect to any Payment Date, an amount delivered by the Insurer, at its sole option, other than amounts in respect of a Note Policy Claim Amount, for deposit into the Collection Account for any of the following purposes: (i) to provide funds in respect of the payment of fees or expenses of any provider of services to the Trust with respect to such Payment Date; or (ii) to include such amounts as part of the Additional Funds Available for such Payment Date to the extent that without such amount a draw would be required to be made on the Note Policy.
Insurer Optional Deposit means, with respect to any Distribution Date, an amount delivered by the Insurer pursuant to Section 5.11, at its sole option, other than amounts in respect of a Note Policy Claim Amount, to the Trust Collateral Agent for deposit into the Collection Account for the purpose of including such amount as part of the Additional Funds Available for such Distribution Date to the extent that without such amount a draw would be required to be made on the Note Policy.
Insurer Optional Deposit means, with respect to any Payment Date, an amount delivered by the Insurer pursuant to Section 5.10 hereof, at its sole option, to the Indenture Trustee for deposit into the Collection Account.
Insurer Optional Deposit has the meaning ascribed thereto in Section 5.19 of the Indenture.
Insurer Optional Deposit means, with respect to any Distribution Date, an amount delivered by the Insurer, at its sole option, other than pursuant to the Policy for deposit into the Collection Account for any of the following purposes: (i) to provide funds in respect of the payment of fees or expenses of any provider of services to the Trust with respect to such Distribution Date; or (ii) to include such amount as part of the Distribution Amount for such Distribution Date to the extent that without such amount a draw would be required to be made on the Policy.