Common use of Policy Matters Clause in Contracts

Policy Matters. (a) If, on the second Business Day before any Distribution Date, the Trustee determines that there will be a Class A-2 Distribution Deficiency for such Distribution Date, the Trustee shall determine the amount of such Class A-2 Distribution Deficiency and shall give notice to Ambac by telephone or telecopy of the amount of such deficiency confirmed in writing by the Notice of Nonpayment by 12:00 noon, New York City time on such second Business Day.

Policy Matters. (a) If, on the second Business Day before any Distribution Date, the Trustee determines that there will be a Class A-2 A-3 Distribution Deficiency for such Distribution Date, the Trustee shall determine the amount of such Class A-2 A-3 Distribution Deficiency and shall give notice to Ambac FSA by telephone or telecopy of the amount of such deficiency confirmed in writing by the Notice of Nonpayment by 12:00 noon, New York City time on such second Business Day.

Policy Matters. (a) If, on the second Business Day before any Distribution Date, the Trustee determines that there will be a Class A-2 A-17 Distribution Deficiency for such Distribution Date, the Trustee shall determine the amount of such Class A-2 A-17 Distribution Deficiency and shall give notice to Ambac by telephone or telecopy of the amount of such deficiency confirmed in writing by the Notice of Nonpayment by 12:00 noon, New York City time on such second Business Day.

Policy Matters. (a) If, on the second Business Day before any Distribution Date, the Trustee determines that there will be a Class A-2 A-3 Distribution Deficiency for such Distribution Date, the Trustee shall determine the amount of such Class A-2 A-3 Distribution Deficiency and shall give notice to Ambac by telephone or telecopy of the amount of such deficiency confirmed in writing by the Notice of Nonpayment by 12:00 noon, New York City time on such second Business Day.

Policy Matters. (a) If, on the second Business Day before any Distribution Date, the Trustee determines that there will be a Class A-2 A-4 Distribution Deficiency for such Distribution Date, the Trustee shall determine the amount of such Class A-2 A-4 Distribution Deficiency and shall give notice to Ambac by telephone or telecopy of the amount of such deficiency confirmed in writing by the Notice of Nonpayment by 12:00 noon, New York City time on such second Business Day.

Policy Matters. (a) If, on the second Business Day before any Distribution Date, the Trustee determines that there will be a Class A-2 A-8 Distribution Deficiency for such Distribution Date, the Trustee shall determine the amount of such Class A-2 A-8 Distribution Deficiency and shall give notice to Ambac Financial Security and the Fiscal Agent, if any (as defined in the Policy), by telephone or telecopy of the amount of such deficiency confirmed in writing by the Notice of Nonpayment Claim by 12:00 noon, New York City time on such second Business Day.

Policy Matters. (a) If, on the second Business Day before any Distribution Date, the Trustee determines that there will be a Class A-2 A-6 Distribution Deficiency for such Distribution Date, the Trustee shall determine the amount of such Class A-2 A-6 Distribution Deficiency and shall give notice to Ambac FSA by telephone or telecopy of the amount of such deficiency confirmed in writing by the Notice of Nonpayment by 12:00 noon, New York City time on such second Business Day.

Policy Matters. (a) If, on the second Business Day before any Distribution Date, the Trustee determines that there will be a Class A-2 A-7 Distribution Deficiency or Class A-18 Distribution Deficiency for such Distribution Date, the Trustee shall determine the amount of such Class A-2 A-7 Distribution Deficiency or Class A-18 Distribution Deficiency and shall give notice to Ambac by telephone or telecopy of the amount of such deficiency confirmed in writing by the Notice of Nonpayment by 12:00 noon, New York City time on such second Business Day.