Payment by FDIC Clause Samples
Payment by FDIC. The FDIC will, not later than the P&I Advance Date --------------- in respect of each Distribution Date, pay to the Trustee the amount set forth in the Demand for Payment requested during the related Claim Period by the Trustee pursuant to Section 3.01 hereof; provided, that in each case, the FDIC is required to pay in respect of a particular Sub-Pool an amount not in excess of the Available Sub-Pool Coverage Amount and the Excess Coverage Amount for such Sub-Pool on the date of determination and further provided that the FDIC may, at any time, upon ten (10) days' notification to the Trustee, deduct from any amount payable hereunder any amount previously improperly paid. All such payments by the FDIC hereunder shall be made as described in Section 5.01.
Payment by FDIC. The FDIC will, not later than the P&I Advance Date --------------- in respect of each Distribution Date, pay to the Trustee the amount set forth in the Demand for Payment requested during the related Claim Period by the Trustee pursuant to Section 3.01 hereof; provided, that in each case, the FDIC is required to pay in respect of a particular Sub-Pool an amount not in excess of the Available Sub-Pool Coverage Amount and the Excess Coverage Amount for such Sub-Pool on the date of determination and further provided that (a) the FDIC may, at any time, upon ten (10) days' notification to the Trustee, deduct from any amount payable hereunder any amount previously improperly paid and (b) the FDIC may, at any time, add to any amount payable hereunder in respect of a Credit Draw Amount relating to a particular Mortgage Loan all or a portion of the amount of outstanding Advances made with respect to such loan. All such payments by the FDIC hereunder shall be made as described in Section 5.01.