Common use of Preference Claims Clause in Contracts

Preference Claims. (a) In the event that the Indenture Trustee has received a certified copy of an order of the appropriate court that any payment of principal and interest on a Note has been avoided in whole or in part as a preference payment under applicable bankruptcy law pursuant to a final nonappealable order of a court having competent jurisdiction, the Indenture Trustee shall so notify the Insurer, shall comply with the provisions of the Policy to obtain payment by the Insurer of such avoided payment, and shall, at the time it provides notice to the Insurer, notify Holders of the Notes by mail that, in the event that any Noteholder’s payment is so recoverable, such Noteholder will be entitled to payment pursuant to the terms of the Policy. The Indenture Trustee shall furnish to the Insurer at its written request, the requested records it holds in its possession evidencing the payments of principal of and interest on Notes, if any, which have been made by the Indenture Trustee and subsequently recovered from Noteholders and the dates on which such payments were made. Pursuant to the terms of the Policy, the Insurer will make such payment on behalf of the related Noteholder to the receiver, conservator, debtor-in-possession or trustee in bankruptcy named in the final order of the court exercising jurisdiction on behalf of the Noteholders and not to the Indenture Trustee or any Noteholder directly (unless such Noteholder has returned principal or interest paid on the Notes to such receiver or trustee in bankruptcy, in which case the Insurer shall make such payment to the Indenture Trustee for payment to such Noteholder in accordance with the terms of the Policy).

Preference Claims. (a) In the event that the Indenture Trustee Trust ----------------- Collateral Agent has received a certified copy of an order of the appropriate court that any payment of principal and interest Noteholders' Interest Distributable Amount or Noteholders' Principal Distributable Amount paid on a Note has been avoided in whole or in part as a preference payment under applicable bankruptcy law pursuant to a final nonappealable order of a court having competent jurisdictionlaw, the Indenture Trustee Trust Collateral Agent shall so notify the Insurer, shall comply with the provisions of the Note Policy to obtain payment by the Insurer of such avoided payment, and shall, at the time it provides notice to the Insurer, notify Holders of the Notes by mail that, in the event that any Noteholder’s 's payment is so recoverable, such Noteholder will be entitled to payment pursuant to the terms of the Note Policy. The Indenture Trustee Trust Collateral Agent shall furnish to the Insurer at its written request, the requested records it holds in its possession evidencing the payments of principal of and interest on Notes, if any, which have been made by the Indenture Trustee Trust Collateral Agent and subsequently recovered from Noteholders Noteholders, and the dates on which such payments were made. Pursuant to the terms of the Note Policy, the Insurer will make such payment on behalf of the related Noteholder to the receiver, conservator, debtor-in-possession or trustee in bankruptcy named in the final order of Order (as defined in the court exercising jurisdiction on behalf of the Noteholders Note Policy) and not to the Indenture Trustee Trust Collateral Agent or any Noteholder directly (unless such a Noteholder has returned principal or interest previously paid on such payment to the Notes to such receiver receiver, conservator, debtor-in-possession or trustee in bankruptcy, in which case the Insurer shall will make such payment to the Indenture Trustee Trust Collateral Agent for payment distribution to such Noteholder in accordance with upon proof of such payment reasonably satisfactory to the terms of the PolicyInsurer).

Preference Claims. (a) In the event that the Indenture Trustee has received a certified copy of an order of the appropriate court that any payment of principal and interest Scheduled Payment (as defined in the Note Policy) paid on a Class A Note has been avoided in whole or in part as a preference payment under applicable bankruptcy law pursuant to a final nonappealable order of a court having competent jurisdictionlaw, the Indenture Trustee shall so notify the Note Insurer, shall comply with the provisions of the Note Policy to obtain payment by the Note Insurer of such avoided payment, and shall, at the time it provides notice to the Note Insurer, notify Holders of the Class A Notes by mail that, in the event that any Class A Noteholder’s 's payment is so recoverable, such Class A Noteholder will be entitled to payment pursuant to the terms of the Note Policy. The Indenture Trustee shall furnish to the Note Insurer at its written request, the requested records it holds in its possession evidencing the payments of principal of and interest on Class A Notes, if any, which have been made by the Indenture Trustee and subsequently recovered from Noteholders Class A Noteholders, and the dates on which such payments were made. Pursuant to the terms of the Note Policy, the Note Insurer will make such payment on behalf of the related Class A Noteholder to the receiver, conservator, debtor-in-possession or trustee in bankruptcy named in the final order of (as defined in the court exercising jurisdiction on behalf of the Noteholders Note Policy) and not to the Indenture Trustee or any Class A Noteholder directly (unless such a Class A Noteholder has returned principal or interest previously paid on such payment to the Notes to such receiver receiver, conservator, debtor-in-possession or trustee in bankruptcy, in which case the Note Insurer shall will make such payment to the Indenture Trustee for payment distribution to such Class A Noteholder in accordance with upon proof of such payment reasonably satisfactory to the terms of the PolicyNote Insurer).

Preference Claims. (a) In the event that the Indenture Trustee has received a certified copy of an order of the appropriate court that any payment amount previously distributed to a Note Owner (as defined in the Indenture) in respect of principal and interest on a Note has been avoided in whole or in part as a preference payment under applicable bankruptcy law pursuant to a final nonappealable order of a court having competent jurisdiction, the Indenture Trustee shall so notify the Note Insurer, shall comply with the provisions of the Note Policy to obtain payment by the Note Insurer of such avoided payment, and shall, at the time it provides notice to the Note Insurer, notify Holders of the Notes by mail that, in the event that any Noteholder’s 's payment is so recoverable, such Noteholder will be entitled to payment pursuant to the terms of the Note Policy. The Indenture Trustee shall furnish to the Note Insurer at its written request, the requested records it holds in its possession evidencing the payments of principal of and interest on Notes, if any, which have been made by the Indenture Trustee and subsequently recovered from Noteholders Noteholders, and the dates on which such payments were made. Pursuant to the terms of the Note Policy, the Note Insurer will make such payment on behalf of the related Noteholder to the receiver, conservator, debtor-in-possession or trustee in bankruptcy named in the final order of the court exercising jurisdiction on behalf of the Noteholders and not to the Indenture Trustee or any Noteholder directly (unless such a Noteholder has returned principal or interest previously paid on such payment to the Notes to such receiver receiver, conservator, debtor-in-possession or trustee in bankruptcy, in which case the Note Insurer shall will make such payment to the Indenture Trustee for payment distribution to such Noteholder in accordance with upon proof of such payment reasonably satisfactory to the terms of the PolicyNote Insurer).

Preference Claims. (a) In the event that the Indenture Trustee has received a certified copy of an order of the appropriate court that any payment of principal and interest Interest Payment Amount or Principal Payment Amount paid on a Note has been avoided in whole or in part as a preference payment under applicable bankruptcy law pursuant to a final nonappealable order of a court having competent jurisdictionlaw, the Indenture Trustee shall so notify the Insurer, shall comply with the provisions of the Note Policy to obtain payment by the Insurer of such avoided payment, and shall, at the time it provides notice to the Insurer, notify Holders of the Notes by mail that, in the event that any Noteholder’s 's payment is so recoverable, such Noteholder will be entitled to payment pursuant to the terms of the Note Policy. The Indenture Trustee shall furnish to the Insurer at its written request, the requested records it holds in its possession evidencing the payments of principal of and interest on Notes, if any, which have been made by the Indenture Trustee and subsequently recovered from Noteholders Noteholders, and the dates on which such payments were made. Pursuant to the terms of the Note Policy, the Insurer will make such payment on behalf of the related Noteholder to the receiver, conservator, debtor-in-possession or trustee in bankruptcy named in the final order of Order (as defined in the court exercising jurisdiction on behalf of the Noteholders Note Policy) and not to the Indenture Trustee or any Noteholder directly (unless such a Noteholder has returned principal or interest previously paid on such payment to the Notes to such receiver receiver, conservator, debtor-in-possession or trustee in bankruptcy, in which case the Insurer shall will make such payment to the Indenture Trustee for payment distribution to such Noteholder in accordance with upon proof of such payment reasonably satisfactory to the terms of the PolicyInsurer).

Preference Claims. (a) In the event that the Indenture Trustee has received a certified copy of an order of the appropriate court that any payment of principal and interest on a Class A Note has been avoided in whole or in part as a preference payment under applicable bankruptcy law pursuant to a final nonappealable order of a court having competent jurisdictionlaw, the Indenture Trustee shall so notify the Insurer, shall comply with the provisions of the Policy to 31 IndyMac Home Equity Mortgage Loan Asset-Backed Trust, Series 2006-H2 Indenture obtain payment by the Insurer of such avoided payment, and shall, at the time it provides notice to the Insurer, notify Holders of the Class A Notes by mail that, in the event that any Noteholder’s payment is so recoverable, such Noteholder will be entitled to payment pursuant to the terms of the Policy. The Indenture Trustee shall furnish to the Insurer at its written request, the requested records it holds in its possession evidencing the payments of principal of and interest on Class A Notes, if any, which have been made by the Indenture Trustee and subsequently recovered from Noteholders and the dates on which such payments were made. Pursuant to the terms of the Policy, the Insurer will make such payment on behalf of the related Noteholder to the receiver, conservator, debtor-in-possession or trustee in bankruptcy named in the final order of the court exercising jurisdiction on behalf of the Noteholders and not to the Indenture Trustee or any Noteholder directly (unless such Noteholder has returned principal or interest paid on the Class A Notes to such receiver or trustee in bankruptcy, in which case the Insurer shall make such payment to the Indenture Trustee for payment to such Noteholder in accordance with the terms of the Policy).

Preference Claims. (a) In the event that the Indenture Trustee has received a certified copy of an order of the appropriate court that any payment of principal and interest Class A Interest Payment Amount or Class A Principal Payment Amount paid on a Class A Note has been avoided in whole or in part as a preference payment under applicable bankruptcy law pursuant to a final nonappealable order of a court having competent jurisdictionlaw, the Indenture Trustee shall so notify the Insurer, shall comply with the provisions of the Note Policy to obtain payment by the Insurer of such avoided payment, and shall, at the time it provides notice to the Insurer, notify Holders of the Class A Notes by mail that, in the event that any Class A Noteholder’s 's payment is so recoverable, such Class A Noteholder will be entitled to payment pursuant to the terms of the Note Policy. The Indenture Trustee shall furnish to the Insurer at its written request, the requested records it holds in its possession evidencing the payments of principal of and interest on the Class A Notes, if any, which have been made by the Indenture Trustee and subsequently recovered from Noteholders the Class A Noteholders, and the dates on which such payments were made. Pursuant to the terms of the Note Policy, the Insurer will make such payment on behalf of the related Class A Noteholder to the receiver, conservator, debtor-in-possession or trustee in bankruptcy named in the final order of Order (as defined in the court exercising jurisdiction on behalf of the Noteholders Note Policy) and not to the Indenture Trustee or any Class A Noteholder directly (unless such a Class A Noteholder has returned principal or interest previously paid on such payment to the Notes to such receiver receiver, conservator, debtor-in-possession or trustee in bankruptcy, in which case the Insurer shall will make such payment to the Indenture Trustee for payment distribution to such Class A Noteholder in accordance with upon proof of such payment reasonably satisfactory to the terms of the PolicyInsurer).

Preference Claims. (a) In the event that the Indenture Trustee has received a certified copy of an order of the appropriate court that any payment of principal and interest on a Note has been avoided in whole or in part as a preference payment under applicable bankruptcy law pursuant to a final nonappealable order of a court having competent jurisdictionlaw, the Indenture Trustee shall so notify the Insurer, shall comply with the provisions of the Policy to obtain payment by the Insurer of such avoided payment, and shall, at the time it provides notice to the Insurer, notify Holders of the Notes by mail that, in the event that any Noteholder’s payment is so recoverable, such Noteholder will be entitled to payment pursuant to the terms of the Policy. The Indenture Trustee shall furnish to the Insurer at its written request, the requested records it holds in its possession evidencing the payments of principal of and interest on Notes, if any, which have been made by the Indenture Trustee and subsequently recovered from Noteholders and the dates on which such payments were made. Pursuant to the terms of the Policy, the Insurer will make such payment on behalf of the related Noteholder to the receiver, conservator, debtor-in-possession or trustee in bankruptcy named in the final order of the court exercising jurisdiction on behalf of the Noteholders and not to the Indenture Trustee or Trustee, any Noteholder directly (unless such Noteholder has returned principal or interest paid on the Notes to such receiver or trustee in bankruptcy, in which case the Insurer shall make such payment to the Indenture Trustee for payment to such Noteholder in accordance with the terms of the Policy).

Preference Claims. (a) In the event that the Indenture Trustee Trust Collateral Agent has received a certified copy of an order of the appropriate court that any payment of principal and interest on a Scheduled Payment (as defined in the Class A Note Policy) has been avoided in whole or in part as a preference payment under applicable bankruptcy law pursuant to a final nonappealable order of a court having competent jurisdictionlaw, the Indenture Trustee Trust Collateral Agent shall so notify the Insurer, shall comply with the provisions of the Class A Note Policy to obtain payment by the Insurer of such avoided payment, and shall, at the time it provides notice to the Insurer, notify Holders of the Class A Notes by mail that, in the event that any Class A Noteholder’s 's payment is so recoverable, such Class A Noteholder will be entitled to payment pursuant to the terms of the Class A Note Policy. The Indenture Trustee Trust Collateral Agent shall furnish to the Insurer at its written request, the requested records it holds in its possession evidencing the payments of principal of and interest on Class A Notes, if any, which have been made by the Indenture Trustee Trust Collateral Agent and subsequently recovered from Noteholders the Class A Noteholders, and the dates on which such payments were made. Pursuant to the terms of the Class A Note Policy, the Insurer will make such payment on behalf of the related Class A Noteholder to the receiver, conservator, debtor-in-possession or trustee in bankruptcy named in the final order of Order (as defined in the court exercising jurisdiction on behalf of the Noteholders Class A Note Policy) and not to the Indenture Trustee Trust Collateral Agent or any Noteholder directly (unless such a Class A Noteholder has returned principal or interest previously paid on such payment to the Notes to such receiver receiver, conservator, debtor-in-possession or trustee in bankruptcy, in which case the Insurer shall will make such payment to the Indenture Trustee Trust Collateral Agent for payment distribution to such Class A Noteholder in accordance with upon proof of such payment reasonably satisfactory to the terms of the PolicyInsurer).

Preference Claims. (a) In the event that the Indenture Trustee has received a certified copy of an order of the appropriate court that any payment of principal and interest on a Note has been avoided in whole or in part as a preference payment under applicable bankruptcy law pursuant to a final nonappealable order of a court having competent jurisdictionlaw, the Indenture Trustee shall so notify the InsurerInsurers, shall comply with the provisions of the each Policy to obtain payment by the Insurer Insurers of such avoided paymentpayments, and shall, at the time it provides notice to the InsurerInsurers, notify Holders of the related Class of Notes by mail that, in the event that any Noteholder’s payment is so recoverable, such Noteholder will be entitled to payment pursuant to the terms of the applicable Policy. The Indenture Trustee shall furnish to the each Insurer at its written request, the requested records it holds in its possession evidencing the payments of principal of and interest on the related Class of Notes, if any, which have been made by the Indenture Trustee and subsequently recovered from Noteholders and the dates on which such payments were made. Pursuant to the terms of the PolicyPolicies, the related Insurer will make such payment payments on behalf of the related Noteholder to the receiver, conservator, debtor-in-possession or trustee in bankruptcy named in the final order of the court exercising jurisdiction on behalf of the Noteholders and not to the Indenture Trustee or any Noteholder directly (unless such Noteholder has returned principal or interest paid on the Notes to such receiver or trustee in bankruptcy, in which case the applicable Insurer shall make such payment to the Indenture Trustee for payment to such Noteholder in accordance with the terms of the its respective Policy).

Preference Claims. (a) In the event that the Indenture Trustee has received a certified copy of an order of the appropriate court that any payment of principal and interest Insured Amount on a Note has been avoided in whole or in part as a preference payment under applicable bankruptcy law pursuant to a final nonappealable order of a court having competent jurisdictionlaw, the Indenture Trustee shall so notify the Insurer, shall comply with the provisions of the Policy to obtain payment by the Insurer of such avoided payment, and shall, at the time it provides notice to the Insurer, notify Holders of the Notes by mail that, in the event that any Noteholder’s 's payment is so recoverable, such Noteholder will be entitled to payment pursuant to the terms of the Policy. The Indenture Trustee shall furnish to the Insurer at its written request, the requested records it holds in its possession evidencing the payments of principal of and interest on Notes, if any, which have been made by the Indenture Trustee and subsequently recovered from Noteholders and the dates on which such payments were made. Pursuant to the terms of the Policy, the Insurer will make such payment on behalf of the related Noteholder to the receiver, conservator, debtor-in-possession or trustee in bankruptcy named in the final order of the court exercising jurisdiction on behalf of the Noteholders and not to the Indenture Trustee or Trustee, any Noteholder directly (unless such Noteholder has returned principal or interest paid on the Notes to such receiver or trustee in bankruptcy, in which case the Insurer shall make such payment to the Indenture Trustee for payment to such Noteholder in accordance with the terms of the Policy).

Preference Claims. (a) In the event that the Indenture Trustee has received a certified copy of an order of the appropriate court that any payment of principal and interest Class A Interest Payment Amount or Class A Principal Payment Amount paid on a Class A Note has been avoided in whole or in part as a preference payment under applicable bankruptcy law pursuant to a final nonappealable order of a court having competent jurisdictionlaw, the Indenture Trustee shall so notify the Insurer, shall comply with the provisions of the Note Policy to obtain payment by the Insurer of such avoided payment, and shall, at the time it provides notice to the Insurer, notify Holders of the Class A Notes by mail that, in the event that any Class A Noteholder’s 's payment is so recoverable, such Class A Noteholder will be entitled to payment pursuant to the terms of the Note Policy. The Indenture Trustee shall furnish to the Insurer at its written request, the requested records it holds in its possession evidencing the payments of principal of and interest on Class A Notes, if any, which have been made by the Indenture Trustee and subsequently recovered from Noteholders Class A Noteholders, and the dates on which such payments were made. Pursuant to the terms of the Note Policy, the Insurer will make such payment on behalf of the related Class A Noteholder to the receiver, conservator, debtor-in-possession or trustee in bankruptcy named in the final order of Order (as defined in the court exercising jurisdiction on behalf of the Noteholders Note Policy) and not to the Indenture Trustee or any Class A Noteholder directly (unless such a Class A Noteholder has returned principal or interest previously paid on such payment to the Notes to such receiver receiver, conservator, debtor-in-possession or trustee in bankruptcy, in which case the Insurer shall will make such payment to the Indenture Trustee for payment distribution to such Class A Noteholder in accordance with upon proof of such payment reasonably satisfactory to the terms of the PolicyInsurer).

Preference Claims. (a) In the event that the Indenture Trustee has received a certified copy of an order of the appropriate court that any payment of principal and interest on a Class A Note has been avoided in whole or in part as a preference payment under applicable bankruptcy law pursuant to a final nonappealable order of a court having competent jurisdictionlaw, the Indenture Trustee shall so notify the Insurer, shall comply with the provisions of the Policy to obtain payment by the Insurer of such avoided payment, and shall, at the time it provides notice to the Insurer, notify Holders of the Class A Notes by mail that, in the event that any Noteholder’s payment is so recoverable, such Noteholder will be entitled to payment pursuant to the terms of the Policy. The Indenture Trustee shall furnish to the Insurer at its written request, the requested records it holds in its possession evidencing the payments of principal of and interest on Class A Notes, if any, which have been made by the Indenture Trustee and subsequently recovered from Noteholders and the dates on which such payments were made. Pursuant to the terms of the Policy, the Insurer will make such payment on behalf of the related Noteholder to the receiver, conservator, debtor-in-possession or trustee in bankruptcy named in the final order of the court exercising jurisdiction on behalf of the Noteholders and not to the Indenture Trustee or any Noteholder directly (unless such Noteholder has returned principal or interest paid on the Class A Notes to such receiver or trustee in bankruptcy, in which case the Insurer shall make such payment to the Indenture Trustee for payment to such Noteholder in accordance with the terms of the Policy).

Preference Claims. (a) In the event that the Indenture Trustee has received a certified copy of an order of the appropriate court that any payment of principal and interest Insured Amount on a Note Bond has been avoided in whole or in part as a preference payment under applicable bankruptcy law pursuant to a final nonappealable order of a court having competent jurisdictionlaw, the Indenture Trustee shall so notify the Insurer, shall comply with the provisions of the Policy to obtain payment by the Insurer of such avoided payment, and shall, at the time it provides notice to the Insurer, notify Holders of the Notes Bonds by mail that, in the event that any Noteholder’s Bondholder's payment is so recoverable, such Noteholder Bondholder will be entitled to payment pursuant to the terms of the Policy. The Indenture Trustee shall furnish to the Insurer at its written request, the requested records it holds in its possession evidencing the payments of principal of and interest on NotesBonds, if any, which have been made by the Indenture Trustee and subsequently recovered from Noteholders Bondholders and the dates on which such payments were made. Pursuant to the terms of the Policy, the Insurer will make such payment on behalf of the related Noteholder Bondholder to the receiver, conservator, debtor-in-possession or trustee in bankruptcy named in the final order of the court exercising jurisdiction on behalf of the Noteholders Bondholders and not to the Indenture Trustee or Trustee, any Noteholder Bondholder directly (unless such Noteholder Bondholder has returned principal or interest paid on the Notes Bonds to such receiver or trustee in bankruptcy, in which case the Insurer shall make such payment to the Indenture Trustee for payment to such Noteholder Bondholder in accordance with the terms of the Policy).

Preference Claims. (a) In the event that the Indenture Trustee has received a certified copy of an a final, non-appealable order of the appropriate court that any payment of principal and interest Noteholders' Interest Payment Amount or Noteholders' Principal Payment Amount paid on a Note has been avoided in whole or in part as a preference payment under applicable bankruptcy law pursuant to a final nonappealable order of a court having competent jurisdictionlaw, the Indenture Trustee shall so notify the Insurer, shall comply with the provisions of the Note Policy to obtain payment by the Insurer of such avoided payment, and shall, at the time it provides notice to the Insurer, notify Holders of the Notes by mail that, in the event that any Noteholder’s 's payment is so recoverable, such Noteholder will be entitled to payment pursuant to the terms of the Note Policy. The Indenture Trustee shall furnish to the Insurer at its written request, the requested records it holds in its possession evidencing the payments of principal of and interest on Notes, if any, which have been made by the Indenture Trustee and subsequently recovered from Noteholders Noteholders, and the dates on which such payments were made. Pursuant to the terms of the Note Policy, the Insurer will make such payment on behalf of the related Noteholder to the receiver, conservator, debtor-in-possession or trustee in bankruptcy named in the final order of Order (as defined in the court exercising jurisdiction on behalf of the Noteholders Note Policy) and not to the Indenture Trustee or any Noteholder directly (unless such a Noteholder has returned principal or interest previously paid on such payment to the Notes to such receiver receiver, conservator, debtor-in-possession or trustee in bankruptcy, in which case the Insurer shall will make such payment to the Indenture Trustee for payment distribution to such Noteholder in accordance with upon proof of such payment reasonably satisfactory to the terms of the PolicyInsurer).

Preference Claims. (a) In the event that the Indenture Trustee has received a certified copy of an a final, non-appealable order of the appropriate court that any payment of principal and interest the Noteholder's Interest Distributable Amount or Noteholder's Principal Distributable Amount paid on a Note has been avoided in whole or in part as a preference payment under applicable bankruptcy law pursuant to a final nonappealable order of a court having competent jurisdictionlaw, the Indenture Trustee shall so notify the Insurer, shall comply with the provisions of the Note Policy to obtain payment by the Insurer of such avoided payment, and shall, at the time it provides notice to the Insurer, notify Holders of the Notes Agent by mail that, in the event that any the Noteholder’s 's payment is so recoverable, such the Noteholder will be entitled to payment pursuant to the terms of the Note Policy. The Indenture Trustee shall furnish to the Insurer at its written request, the requested records it holds in its possession evidencing the payments of principal of and interest on Notesthe Note, if any, which have been made by the Indenture Trustee and subsequently recovered from Noteholders the Noteholder, and the dates on which such payments were made. Pursuant to the terms of the Note Policy, the Insurer will make such payment on behalf of the related Noteholder to the receiver, conservator, debtor-in-possession or trustee in bankruptcy named in the final order of Order (as defined in the court exercising jurisdiction on behalf of the Noteholders Note Policy) and not to the Indenture Trustee or any the Noteholder directly (unless such a Noteholder has returned principal or interest previously paid on such payment to the Notes to such receiver receiver, conservator, debtor-in-possession or trustee in bankruptcy, in which case the Insurer shall will make such payment to the Indenture Trustee for distribution to the Noteholder upon proof of such payment reasonably satisfactory to such Noteholder in accordance with the terms of the PolicyInsurer).

Preference Claims. (a) In the event that the Indenture Trustee Trust Collateral Agent has received a certified copy of an order of the appropriate court that any payment of principal and interest Scheduled Payment (as defined in the Note Policy) paid on a Note has been avoided in whole or in part as a preference payment under applicable bankruptcy law pursuant to a final nonappealable order of a court having competent jurisdictionlaw, the Indenture Trustee Trust Collateral Agent shall so notify the Insurer, shall comply with the provisions of the Note Policy to obtain payment by the Insurer of such avoided payment, and shall, at the time it provides notice to the Insurer, notify Holders of the Notes by mail that, in the event that any Noteholder’s 's payment is so recoverable, such Noteholder will be entitled to payment pursuant to the terms of the Note Policy. The Indenture Trustee Trust Collateral Agent shall furnish to the Insurer at its written request, the requested records it holds in its possession evidencing the payments of principal of and interest on Notes, if any, which have been made by the Indenture Trustee Trust Collateral Agent and subsequently recovered from Noteholders Noteholders, and the dates on which such payments were made. Pursuant to the terms of the Note Policy, the Insurer will make such payment on behalf of the related Noteholder to the receiver, conservator, debtor-in- possession or trustee in bankruptcy named in the Order (as defined in the Note Policy) and not to the Trust Collateral Agent or any Noteholder directly (unless a Noteholder has previously paid such payment to the receiver, conservator, debtor-in-possession or trustee in bankruptcy named in the final order of the court exercising jurisdiction on behalf of the Noteholders and not to the Indenture Trustee or any Noteholder directly (unless such Noteholder has returned principal or interest paid on the Notes to such receiver or trustee in bankruptcy, in which case the Insurer shall will make such payment to the Indenture Trustee Trust Collateral Agent for payment distribution to such Noteholder in accordance with upon proof of such payment reasonably satisfactory to the terms of the PolicyInsurer).

Preference Claims. (a) In the event that the Indenture Trustee has received a certified copy of an order of the appropriate court that any payment of principal and interest on a Note has been avoided in whole or in part as a preference payment under applicable bankruptcy law pursuant to a final nonappealable order of a court having competent jurisdictionlaw, the Indenture Trustee shall so notify the Insurer, shall comply with the provisions of the Policy to obtain payment by the Insurer of such avoided payment, and shall, at the time it provides notice to the Insurer, notify Holders of the Notes by mail that, in the event that any Noteholder’s 's payment is so recoverable, such Noteholder will be entitled to payment pursuant to the terms of the Policy. The Indenture Trustee shall furnish to the Insurer at its written request, the requested records it holds in its possession evidencing the payments of principal of and interest on Notes, if any, which have been made by the Indenture Trustee and subsequently recovered from Noteholders and the dates on which such payments were made. Pursuant to the terms of the Policy, the Insurer will make such payment on behalf of the related Noteholder to the receiver, conservator, debtor-in-possession or trustee in bankruptcy named in the final order of the court exercising jurisdiction on behalf of the Noteholders and not to the Indenture Trustee or Trustee, any Noteholder directly (unless such Noteholder has returned principal or interest paid on the Notes to such receiver or trustee in bankruptcy, in which case the Insurer shall make such payment to the Indenture Trustee for payment to such Noteholder in accordance with the terms of the Policy).

Preference Claims. (a) In the event that the Indenture Trustee has received a certified copy of an order of the appropriate court that any payment of principal and interest on a Note has been avoided in whole or in part as a preference payment under applicable bankruptcy law pursuant to a final nonappealable order of a court having competent jurisdictionlaw, the Indenture Trustee shall so notify the InsurerCredit Enhancer, shall comply with the provisions of the Policy Credit Enhancement Instrument to obtain payment by the Insurer Credit Enhancer of such avoided payment, and shall, at the time it provides notice to the InsurerCredit Enhancer, notify Holders of the Notes by mail that, in the event that any Noteholder’s 's payment is so recoverable, such Noteholder will be entitled to payment pursuant to the terms of the PolicyCredit Enhancement Instrument. The Indenture Trustee shall furnish to the Insurer Credit Enhancer at its written request, the requested records it holds in its possession evidencing the payments of principal of and interest on Notes, if any, which have been made by the Indenture Trustee and subsequently recovered from Noteholders and the dates on which such payments were made. Pursuant to the terms of the PolicyCredit Enhancement Instrument, the Insurer Credit Enhancer will make such payment on behalf of the related Noteholder to the receiver, conservator, debtor-in-possession or trustee in bankruptcy named in the final order of the court exercising jurisdiction on behalf of the Noteholders and not to the Indenture Trustee or Trustee, any Noteholder directly (unless such Noteholder has returned principal or interest paid on the Notes to such receiver or trustee in bankruptcy, in which case the Insurer Credit Enhancer shall make such payment to the Indenture Trustee for payment to such Noteholder in accordance with the terms of the PolicyCredit Enhancement Instrument).