Note Policy Claim Amount definition

Note Policy Claim Amount means, with respect to each Distribution Date, the amount, if any, by which the Note Distributable Amount for such Distribution Date exceeds the sum of (i) the amount of Net Collections actually deposited in the Note Distribution Account on such Distribution Date in accordance with Section 5.05 and (ii) the amount of the Note Deficiency Claim Amount, if any, paid to the Note Distribution Account from the Spread Account pursuant to a Deficiency Notice delivered for such Distribution Date.

Note Policy Claim Amount shall have the meaning specified in Section 5.18(a).

Note Policy Claim Amount means, for any Insured Distribution Date, the sum of (x) the excess, if any (without duplication) of (i) the sum of the Noteholders' Interest Distributable Amount and the Noteholders' Parity Deficit Amount for the related Distribution Date, together with, (a) if such related Distribution Date was the Mandatory Redemption Date, the Note Prepayment Amount, and (b) if such related Distribution Date was the Final Scheduled Distribution Date for any Class, the unpaid principal balance of such Class over (ii) the sum of (a) the amount actually deposited into the Note Distribution Account on such related Distribution Date and (b) the Additional Funds Available, if any, for such Insured Distribution Date plus (y) the Noteholders' Interest Carryover Amount, if any, which has accrued since the related Distribution Date.

Examples of Note Policy Claim Amount in a sentence

• If the Note Policy Claim Amount for such Insured Distribution Date is greater than zero, the Trust Collateral Agent shall furnish to the Insurer no later than 12:00 noon Eastern time on the related Draw Date a completed Notice of Claim (as defined in (b) below) in the amount of the Note Policy Claim Amount.

• In accordance with the provisions of the Note Policy, the Insurer is required to pay to the Trust Collateral Agent the Note Policy Claim Amount properly claimed thereunder by 10:00 a.m., Eastern time, on the later of (i) the third Business Day following receipt on a Business Day of the Notice of Claim, and (ii) the applicable Insured Distribution Date.

• In accordance with the provisions of the Note Policy, the Note 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 Payment Date.

• If the Note Policy Claim Amount for such Payment Date is greater than zero, the Trustee shall furnish to the Note Insurer no later than 12:00 noon New York City time on the related Draw Date a completed Notice of Claim (as defined in clause (b) below) in the amount of the Note Policy Claim Amount.

• 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 p.m., New York City time, on the later of (i) the fourth Business Day following receipt of the Notice of Claim, and (ii) the applicable Distribution Date.

More Definitions of Note Policy Claim Amount

Note Policy Claim Amount has the meaning specified in the Sale and Serving Agreement.

Note Policy Claim Amount with respect to any Payment Date, has the meaning specified in Section 6.1.

Note Policy Claim Amount means, for any Insured Distribution Date, the sum of (x) the excess, if any (without duplication) of (i) the sum of the Noteholders’ Interest Distributable Amount and the Noteholders’ Remaining Parity Deficit Amount for the related Distribution Date (excluding any portion of a Noteholders’ Interest Distributable Amount due to Noteholders representing interest on any Noteholders’ Interest Carryover Amount accrued from and including the date of payment of the amount of such Noteholders’ Interest Carryover Amount, unless the Insurer elects, in its sole discretion, to pay such amounts in whole or in part, pursuant to the Note Policy), together with, if such related Distribution Date was the Final Scheduled Distribution Date for any Class, the unpaid principal balance of such Class over (ii) the sum of (a) the amount actually deposited into the Note Distribution Account on such related Distribution Date (without duplication of any Deficiency Claim Amount received by the Trustee and included in Additional Funds Available) and (b) the Additional Funds Available, if any, for such Insured Distribution Date plus (y) the Noteholders’ Interest Carryover Amount, if any, which has accrued since the related Distribution Date.

Note Policy Claim Amount shall have the meaning set forth in Section 5.4(a) of this Agreement.

Note Policy Claim Amount has the meaning specified in the Sale and Servicing Agreement.

Note Policy Claim Amount with respect to any Distribution Date, has the meaning specified in Section 6.1.

Note Policy Claim Amount means, for any Insured Distribution Date, the sum of (x) the excess, if any, of (i) the sum of the Noteholders' Interest Distributable Amount and the Noteholders' Principal Distributable Amount for the related Distribution Date, together with, if such related Distribution Date was the Mandatory Redemption Date, the Note Prepayment Amount over (ii) the sum of (a) the amount actually deposited into the Note Distribution Account on such related Distribution Date and (b) the Additional Funds Available, if any, for such Insured Distribution Date plus (y) the Noteholders' Interest Carryover Amount, if any, which has accrued since the related Distribution Date.