Common use of Policy Matters Clause in Contracts

Policy Matters. (a) If, on the third Business Day before any Distribution Date, the Securities Administrator notifies the Trustee that a Deficiency Amount exists on such Distribution Date, the Trustee shall give notice to MBIA and the Fiscal Agent (as defined in the Policy), if any, by telephone or telecopy of the amount of such Deficiency Amount, confirmed in writing by notice substantially in the form of Exhibit A to the Policy by 12:00 noon, New York City time on such third Business Day. The Trustee's responsibility for delivering the notice to MBIA as provided in the preceding sentence is contingent upon its receipt of available, timely and accurate information from the Master Servicer.

Policy Matters. (a) If, on the third Business Day before any Distribution Date, the Securities Administrator notifies the Trustee determines that a Deficiency Amount exists on such Distribution Date, the Trustee shall give notice to MBIA and the Fiscal Agent (as defined in the Class A-3 Policy), if any, by telephone or telecopy of the amount of such Deficiency Amount, confirmed in writing by notice substantially in the form of Exhibit A to the Class A-3 Policy by 12:00 noon, New York City time on such third Business Day. The Trustee's responsibility for delivering the notice to MBIA as provided in the preceding sentence is contingent upon its receipt of available, timely and accurate information from the Master Servicer.

Policy Matters. (a) If, on the third Business Day before any Distribution Date, the Securities Administrator notifies the Trustee determines that a Deficiency Amount exists on such Distribution Date, the Trustee shall give notice to MBIA and the Fiscal Agent (as defined in the Policy), if any, by telephone or telecopy of the amount of such Deficiency Amount, confirmed in writing by notice substantially in the form of Exhibit A to the Policy by 12:00 noon, New York City time on such third Business Day. The Trustee's responsibility for delivering the notice to MBIA as provided in the preceding sentence is contingent upon its receipt of available, timely and accurate information from the Master Servicer.

Policy Matters. (a) If, on the third Business Day before any Distribution Date, the Securities Administrator notifies the Trustee determines that a Deficiency Amount exists on such Distribution Date, the Trustee shall give notice to MBIA and the Fiscal Agent (as defined in the Class A-5 Policy), if any, by telephone or telecopy of the amount of such Deficiency Amount, confirmed in writing by notice substantially in the form of Exhibit A to the Class A-5 Policy by 12:00 noon, New York City time on such third Business Day. The Trustee's responsibility for delivering the notice to MBIA as provided in the preceding sentence is contingent upon its receipt of available, timely and accurate information from the Master Servicer.

Policy Matters. (a) If, on the third Business Day before any Distribution Date, the Securities Administrator notifies the Trustee determines that a Deficiency Amount exists on such Distribution Date, the Trustee shall give notice to MBIA and the Fiscal Agent (as defined in the Class A-7 Policy), if any, by telephone or telecopy of the amount of such Deficiency Amount, confirmed in writing by notice substantially in the form of Exhibit A to the Class A-7 Policy by 12:00 noon, New York City time on such third Business Day. The Trustee's responsibility for delivering the notice to MBIA as provided in the preceding sentence is contingent upon its receipt of available, timely and accurate information from the Master Servicer.

Policy Matters. (a) If, on the third Business Day before any Distribution Date, the Securities Administrator notifies the Trustee determines that a Deficiency Amount exists on such Distribution Date, the Trustee shall give notice to MBIA and the Fiscal Agent (as defined in the Class A-9 Policy), if any, by telephone or telecopy of the amount of such Deficiency Amount, confirmed in writing by notice substantially in the form of Exhibit A to the Class A-9 Policy by 12:00 noon, New York City time on such third Business Day. The Trustee's responsibility for delivering the notice to MBIA as provided in the preceding sentence is contingent upon its receipt of available, timely and accurate information from the Master Servicer.