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