Common use of Claims Under Note Policy Clause in Contracts

Claims Under Note Policy. (a) In the event that the Trustee has received a Deficiency Notice with respect to any Distribution Date pursuant to Section 5.02(c) of the Sale and Servicing Agreement, the Trustee shall furnish to the Insurer no later than 12:00 p.m., New York City time, on the fourth Business Day prior to the related Distribution Date a completed Notice of Claim in the amount of the shortfall in amounts so available to pay the Note Interest Distributable Amount and the Note Principal Distributable Amount with respect to such Distribution Date (the amount of any such shortfall being hereinafter referred to as the "Note Policy Claim Amount"). Amounts paid by the Insurer pursuant to a claim submitted under this Section shall be deposited by the Trustee into the Note Distribution Account for payment to Noteholders on the related Distribution Date.

Claims Under Note Policy. (a) In the event that the Trustee has received a Deficiency Notice with respect to any Distribution Date pursuant to Section 5.02(c5.02(b) of the Sale and Servicing Agreement, the Trustee shall furnish to the Insurer no later than 12:00 p.m., New York City time, on the fourth Business Day prior to the related Distribution Date a completed Notice of Claim in the amount of the shortfall in amounts so available to pay the Note Interest Distributable Amount and the Note Principal Distributable Amount with respect to such Distribution Date (the amount of any such shortfall being hereinafter referred to as the "Note Policy Claim Amount"). Amounts paid by the Insurer pursuant to a claim submitted under this Section shall be deposited by the Trustee into the Note Distribution Account for payment to Noteholders on the related Distribution Date.