Claims Under Policy. The Notes will be insured by the Policy pursuant to the terms set forth therein, notwithstanding any provisions to the contrary contained in this Indenture or the Sale and Servicing Agreement. All amounts received under the Policy shall be used solely for the payment to Noteholders of principal and interest on the Notes.
Claims Under Policy. (a) If on any Determination Date the Servicer has reported to the Trustee in the Monthly Servicer Report that the Servicer has determined that (A) as of the opening of business of the Trustee on such Determination Date, the amount of Available Funds on deposit in the Collection Account, together with any amounts on deposit in the Reserve Account and the Note Payment Account, are insufficient to provide for the payment in full of the Interest Distributable Amount payable on the related Payment Date (after giving effect to each payment required to be made prior to such payment on such Payment Date pursuant to Section 4.04(b)), and/or (B) if such Payment Date is the Final Payment Date and the Note Balance has not been reduced to zero prior to such Determination Date, and all amounts then on deposit in the Collection Account, together with any amounts then on deposit in the Reserve Account and the Note Payment Account are insufficient to make a payment to the Noteholders reducing the Note Balance to zero (after giving effect to each payment required to be made prior to such payment on the Final Payment Date pursuant to Section 4.04(b)), then by 2:00 p.m., New York time on such Determination Date, the Trustee shall deliver to the Note Insurer and the Servicer a completed notice for payment in the form set forth as Exhibit A to the Policy (the "Notice for Payment"), and shall confirm delivery of such Notice for Payment, each as specified in the Policy. 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. Upon receipt of any payments on behalf of the Trust under the Policy, the Trustee shall deposit any Interest Deficiency Draw Amount and/or Principal Deficiency Draw Amount in the Note Payment Account. Such amounts shall be distributed pursuant to Section 4.04.
Claims Under Policy. 41 SECTION 4.02.
Claims Under Policy. (a) In the event that the Collateral Agent has received a Deficiency Notice, or otherwise has actual knowledge or is aware of the existence of a Deficiency Claim Amount, on any Determination Date, the Collateral Agent shall determine on the related Draw Date whether the sum of (i) the amount of Available Funds on such Determination Date (as stated in the Servicer's Certificate with respect to such Determination Date) plus (ii) the Reserve Account Application Amount, if any, available to be distributed by the Collateral Agent pursuant to a Deficiency Notice delivered with respect to such Payment Date plus (iii) the amount of any Insurer Optional Deposits, would be insufficient to pay the Covered Payments (as defined in the Policy) for the related Payment Date, then in such event the Collateral Agent shall furnish to the Insurer no later than 12:00 p.m., New York City time, on the related Draw Date a completed Notice of Claim in the amount of the shortfall in amounts so available to pay the Covered Payments with respect to such Payment Date. In each Notice of Claim furnished by the Collateral Agent to the Insurer, the Collateral Agent shall direct the Insurer to deliver the related Policy Claim Amount, by wire transfer, directly to the Collection Account.
Claims Under Policy. (a) On each Determination Date, the Trustee shall determine from the related Servicer Report with respect to the immediately following Payment Date the Deficiency Amount, if any. If the Trustee determines that a Deficiency Amount would exist, the Trustee shall complete a Notice in the form of Exhibit A to the Policy and submit such Notice to the Insurer no later than 12:00 noon New York City time on the third Business Day preceding such Payment Date as a claim for payment in an amount equal to the Deficiency Amount. Amounts paid by the Insurer pursuant to a claim submitted under this Section 4.01, shall be deposited by the Trustee into the Collection Account for payment to Noteholders on the related Payment Date pursuant to Section 3.03(b).
Claims Under Policy. (a) In the event that the Indenture Trustee has delivered a Deficiency Notice with respect to any Determination Date, if the Policy Claim Amount for the related Payment Date is greater than zero, the Indenture Trustee shall furnish to the Insurer (with a copy to the Servicer) no later than 12:00 noon New York City time on the related Deficiency Claim Date a completed Notice of Claim in the amount of the Policy Claim Amount. Amounts paid by the Insurer under the Policy shall be deposited by the Indenture Trustee into the Note Distribution Account on the Business Day immediately preceding the Payment Date for payment to Noteholders on the related Payment Date. The "
Claims Under Policy. Notwithstanding anything in this Agreement to the contrary, nothing herein shall affect or supersede the claims procedure set forth in any Policy with respect to claims arising under and governed by such Policy, including without limitation, claims for death proceeds.
Claims Under Policy. (a) In the event that the Indenture Trustee has delivered a Deficiency Notice with respect to any Determination Date pursuant to Section 5.4 of the Sale and Servicing Agreement, the Indenture Trustee shall on the related Draw Date determine the Policy Claim Amount for the related Payment Date. If the Policy Claim Amount for such Payment Date is greater than zero, the Indenture Trustee shall furnish to the Insurer no later than 3:00 p.m. New York City time on the related Draw Date a completed Notice of Claim in the amount of the Policy Claim Amount. Amounts paid by the Insurer pursuant to a claim submitted under this Section 5.18(a) shall be deposited by the Indenture Trustee into the Note Distribution Account for payment to Noteholders on the related Payment Date.
Claims Under Policy. (a) In accordance with the provisions of the Policy, FSA is required to pay to the Administrative Agent the Policy Claim Amount properly claimed thereunder by 12:00 noon, New York City time, on the later of (i) the third (3rd) Business Day (as defined in the Policy) following Receipt (as defined in the Policy) on a Business Day (as defined in the Policy) of the Notice of Claim, and (ii) the applicable Settlement Date. Any payment made by FSA under the Policy shall be applied solely to the payment of Yield and the Investment, and for no other purpose.
Claims Under Policy. (a) In the event that the Trustee has delivered a Deficiency Notice with respect to any Determination Date, if the Certificate Policy Claim Amount for the related Distribution Date is greater than zero, the Owner Trustee shall furnish to the Security Insurer (with a copy to the Servicer) no later than 3:00 p.m. New York City time on the related Draw Date a completed Notice of Claim in the amount of the Certificate Policy Claim Amount. Amounts paid by the Security Insurer under the Certificate Policy shall be deposited by the Owner Trustee into the Certificate Distribution Account for payment to Certificateholders on the related Distribution Date (or promptly following payment on a later date as set forth in the Certificate Policy). The "Certificate Policy Claim Amount" for any Distribution Date shall equal the lesser of (i) the sum of the Certificateholders' Interest Distributable Amount and the Certificateholders' Principal Distributable Amount (in each case, less the amount thereof distributable to the General Partner) for such Distribution Date and (ii) the excess, if any, of the amount required to be distributed pursuant to clauses (i) through (vi) of Section 5.6(b) over the Distribution Amount and any Note Policy Claim Amount for such Distribution Date.
