Notice for Payment definition

Notice for Payment means a Notice of Nonpayment as such term is defined in the Policy.

Notice for Payment shall have the meaning assigned to that term in the Insurance Policy.

Notice for Payment. As defined in Section 4.01.

Examples of Notice for Payment in a sentence

• In addition, a draw may be made under the Credit Enhancement Instrument in respect of any Avoided Payment (as defined in and pursuant to the terms and conditions of the Credit Enhancement Instrument) and the Indenture Trustee shall submit a Notice for Payment with respect thereto together with the other documents required to be delivered to the Credit Enhancer pursuant to the Credit Enhancement Instrument in connection with a draw in respect of any Avoided Payment.

• To the extent the Insurer is required pursuant to the terms of the Policy to pay the amount of such excess deficiency of the Monthly Servicing Fee, Monthly Interest and Monthly Principal, the Indenture Trustee shall promptly (and in any event not later than 1:00 p.m., New York City time, on the Business Day preceding the Payment Date) deliver a Notice for Payment as defined in the Policy (appropriately completed) to the Fiscal Agent with respect to the Policy.

• The Notice for Payment shall specify the amount of the Insurance Policy Draw Amount and shall constitute a claim for an Insurance Policy Draw Amount pursuant to the Insurance Policy.

• In addition, a draw may be made under the Note Insurance Policy in respect of any Avoided Payment (as defined in and pursuant to the terms and conditions of the Note Insurance Policy) and the Indenture Trustee shall submit a Notice for Payment with respect thereto together with the other documents required to be delivered to the Note Insurer pursuant to the Note Insurance Policy in connection with a draw in respect of any Avoided Payment.

• The Notice for Payment shall specify the amount of the Interest Deficiency Draw Amount and/or the Final Principal Deficiency Amount (as each such term is defined in the Policy) and shall constitute a claim pursuant to the Policy.

More Definitions of Notice for Payment

Notice for Payment has the meaning given to such term in the Policy.

Notice for Payment has the meaning given to such term in each of the Surety Bonds.

Notice for Payment has the meaning set forth in Section 3.10(a) hereof.

Notice for Payment. As defined in Section 4.01. OFFICER'S CERTIFICATE: A certificate signed by the President, an Executive Vice President, a Senior Vice President, a Vice President, an Assistant Vice President, the Treasurer, Assistant Treasurer, Controller or Assistant Controller of the Master Servicer or the Depositor, as the case may be, and delivered to the Indenture Trustee and the Insurer.

Notice for Payment has the meaning set forth in Section 1.14 hereof.

Notice for Payment shall have the meaning set forth in the Surety Bond.

Notice for Payment shall have the meaning set forth in the Surety Bond. The "Optional Purchase Percentage" shall be 5%. The "Original Certificate Balance" is $181,781,125.63. The "Original Pool Balance" is $181,781,125.63. The "Pass-Through Rate" is 6.75% per annum.