Common use of Deficiency Notice Clause in Contracts

Deficiency Notice. (a) In the event that the Servicer’s Certificate with respect to any Determination Date shall state that the amount of the Available Funds with respect to such Determination Date is less than the sum of the amounts payable on the related Distribution Date pursuant to clauses (iii) and (iv) of Section 5.6(a) remaining after application of clauses (i) and (ii) of Section 5.6(a) (any such deficiency being a “Note Policy Claim Amount”), then on the Deficiency Claim Date immediately preceding such Distribution Date the Trustee, based solely on the information provided in the Servicer’s Certificate, shall deliver to the Indenture Collateral Agent, the Security Insurer, the fiscal agent of the Security Insurer, the Owner Trustee, the Insurer’s Agent and the Servicer, by hand delivery, telex or facsimile transmission, a written notice (a “Deficiency Notice”) in accordance with the terms of the Note Policy specifying the Note Policy Claim Amount for such Distribution Date.

Deficiency Notice. (a) In the event that the Servicer’s 's Certificate with respect to any Determination Date shall state that the amount of the Available Funds with respect to such Determination Date is less than the sum of the amounts payable on the related Distribution Date pursuant to clauses (iii) and (iv) of Section 5.6(a) remaining after application of clauses (i) and (ii) of Section 5.6(a) (any such deficiency being a “"Note Policy Claim Amount”"), then on the Deficiency Claim Date immediately preceding such Distribution Date the Trustee, based solely on the information provided in the Servicer’s 's Certificate, shall deliver to the Indenture Collateral Agent, the Security Insurer, the fiscal agent of the Security Insurer, the Owner Trustee, the Insurer’s 's Agent and the Servicer, by hand delivery, telex or facsimile transmission, a written notice (a “"Deficiency Notice”") in accordance with the terms of the Note Policy specifying the Note Policy Claim Amount for such Distribution Date.

Deficiency Notice. (a) In the event that the Servicer’s 's Certificate with respect to any Determination Date shall state that the amount of the Available Funds with respect to such Determination Date is less than the sum of the amounts payable on the related Distribution Date pursuant to clauses (iii) and (iv) of Section 5.6(a5.6(b) remaining after application of clauses (i) and (ii) of Section 5.6(a5.6(b) (any such deficiency being a “"Note Policy Claim Amount”"), then on the Deficiency Claim Date immediately preceding such Distribution Date the Trustee, based solely on the information provided in the Servicer’s 's Certificate, shall deliver to the Indenture Collateral Agent, the Security Insurer, the fiscal agent of the Security Insurer, the Owner Trustee, the Insurer’s 's Agent and the Servicer, by hand delivery, telex or facsimile transmission, a written notice (a “"Deficiency Notice”") in accordance with the terms of the Note Policy specifying the Note Policy Claim Amount for such Distribution Date.