The Certificate Insurance Policy. (a) If, on the Business Day before any Distribution Date, the Trustee determines that an Insured Amount is required to be made by the Certificate Insurer on such Distribution Date, the Trustee shall determine the amount of any such Insured Amount and shall give written notice to the Certificate Insurer by completing a Notice of Nonpayment in the form of Exhibit A to the Certificate Insurance Policy and submitting such Notice of Nonpayment by 12:00 noon, New York City time on such Business Day as a claim for an Insured Amount. The Trustee’s responsibility for delivering a Notice of Nonpayment to the Certificate Insurer, as provided in the preceding sentence, is subject to the availability, timeliness and accuracy of the information provided to it by the Master Servicer in accordance with Section 4.03(a). In the event the Trustee receives a certified copy of an order of the appropriate court that any scheduled payment of principal or interest on a Insured Certificate has been voided in whole or in part as a preference payment under applicable bankruptcy law, the Trustee shall promptly notify the Certificate Insurer in writing, as appropriate, and the fiscal agent, if any, and the Trustee shall make a claim on the Certificate Insurance Policy in accordance with the provisions thereof to obtain payment by the Certificate Insurer of such voided scheduled payment. In addition, the Trustee shall mail notice to all Holders of the Insured Certificates so affected that, in the event that any such Holder’s scheduled payment is so recovered, such Holder will be entitled to payment pursuant to the terms of the Certificate Insurance Policy, a copy of which shall be made available to such Holders by the Trustee. The Trustee shall furnish to the Certificate Insurer and the appropriate fiscal agent, if any, its records listing the payments on the affected Insured Certificates, if any, that have been made by the Trustee and subsequently recovered from the affected Holders, and the dates on which such payments were made by the Trustee.
The Certificate Insurance Policy. (a) Not later than 3:00 p.m., New York time, on the third Business Day immediately preceding each Distribution Date, the Trust Administrator shall determine the Available Funds for such Distribution Date. To the extent any Available Funds Shortfall will exist for any Distribution Date after giving effect to the distributions specified in Section 4.04(b) hereof (calculating such distributions without giving effect to any Insured Payment to be made on such Distribution Date), the Trust Administrator shall complete a notice in the form attached to the Policy (the "Notice") and shall submit such Notice to the Certificate Insurer no later than 10:00 a.m., New York time, on the second Business Day preceding such Distribution Date. Such Notice may be delivered by electronic facsimile (in which case the original shall be sent by overnight courier). The Notice shall constitute a claim for an Insured Payment pursuant to the Policy for an amount equal to the Available Funds Shortfall. Upon receipt of Insured Payments on behalf of the Certificateholders, the Trust Administrator shall deposit such Insured Payments in the Policy Payments Account, and shall thereafter transfer such Insured Payments to the Certificate Account for distribution solely to the related Certificateholders in accordance with Section 4.04(b).
The Certificate Insurance Policy. On each Determination Date the Trustee shall determine with respect to the immediately following Payment Date:
The Certificate Insurance Policy. (a) Within two (2) days of each Servicer Distribution Date, the Trustee shall determine with respect to the immediately following Distribution Date, the amount to be on deposit in the Certificate Account on such Distribution Date as a result of the (i) Servicer's remittance of the Servicer Remittance Amount on the related Servicer Distribution Date, and (ii) any transfers to the Certificate Account made from the Capitalized Interest Account and/or the Pre-Funding Account relating to such Distribution Date pursuant to Section 6.01 hereof, excluding the amount of any Insured Payment and prior to the application of the amounts described in clauses (a)(i) through (a)(iii) of Section 6.05 for the related Distribution Date. The amounts described above in the preceding sentence with respect to the Distribution Date are the "Available Funds".
The Certificate Insurance Policy. (a) The Trustee shall establish a separate non-interest bearing trust account which shall be an Eligible Account for the benefit of Holders of the Class AF-3 Certificates and the Certificate Insurer referred to herein as the "Policy Payment Account" and distribute such amount only for purposes of payment to the Class AF-3 Certificates of the Policy Payment for which a claim was made and such amount may not be applied to satisfy any costs, expenses or liabilities of the Servicer, the Trustee or the Trust Fund or to pay any other Class of Certificates. Amounts paid under the Certificate Insurance Policy, to the extent needed to pay any Class AF-3 Certificate Deficiency Amount, shall be transferred to the Distribution Account on the related Distribution Date, and the portion thereof representing the Class AF-3 Certificate Deficiency Amount shall be disbursed by the Trustee to the Class AF-3 Certificateholders, in each case as if it were a distribution to the Holders of such Certificates pursuant to Section 4.01 or 4.02. It shall not be necessary for such payments to be made by checks or wire transfers separate from the checks or wire transfers used to pay other distributions to the Class AF-3 Certificateholders, as applicable, with other funds available to make such payment. However, the amount of any payment of principal or of interest on the Class AF-3 Certificates to be paid from funds transferred from the Policy Payment Account shall be noted as provided in paragraph (d) below and in the statement to be furnished to Holders of such Class of Certificates pursuant to Section 4.06. Funds held in the Policy Payment Account shall not be invested. Any funds remaining in the Policy Payment Account on the first Business Day following a Distribution Date shall be returned to the Certificate Insurer pursuant to the written instructions of the Certificate Insurer by the end of such Business Day.
The Certificate Insurance Policy. Notwithstanding anything in this Agreement to the contrary, the Servicer shall deposit into the Certificate Account all amounts in respect of the Contracts received on or after March 1, 1999 or otherwise required to be deposited in the Certificate Account by other provisions of this Agreement pursuant to Section 4.05.
The Certificate Insurance Policy. (a) Within two (2) days following each Remittance Date, the Trustee shall determine with respect to the immediately following Distribution Date, the amount to be on deposit in the Distribution Account on such Distribution Date as a result of the (i) Servicer's remittance of the Interest Remittance Amount and the Principal Remittance Amount on the related Remittance Date, and (ii) any transfers to the Distribution Account made from the Capitalized Interest Account and/or the Pre-Funding Account relating to such Distribution Date pursuant to Section 4.02 hereof, excluding the amount of any Insured Payment.
The Certificate Insurance Policy. (a) Not later than two Business Days prior to the Remittance Date, the Trustee, based on the information provided to it by the Master Servicer pursuant to Section 6.5 hereof, shall determine with respect to the immediately following Remittance Date the amount to be on deposit in the Certificate Account reduced by (x) the sum of the amounts described in clauses (i) and (ii) of Section 6.5(a) and the amounts described in clauses (i) and (ii) of Section 6.5(b) for the related Remittance Date, and further not including (y) any Insured Payment.
The Certificate Insurance Policy. (a) Within two Business Days after each Master Servicer Remittance Date the Trustee shall determine with respect to the immediately following Distribution Date the amount to be on deposit in the Certificate Accounts on such Distribution Date as a result of the Master Servicer's remittance of the Master Servicer Remittance Amount on the related Master Servicer Remittance Date plus the amount of any amounts deposited into the Certificate Accounts from the related Pre-Funding Account pursuant to Section 6.12 and any Interest Coverage Additions to be deposited pursuant to Section 6.13 for such Distribution Date, less the amounts described in clauses (i) through (ii) of Section 6.05(b) or (c) for the related Distribution Date, and not including the amount of any Insured Payment which is required to be deposited in the related Certificate Account for such Distribution Date. The amounts described in the preceding sentence, as determined separately with respect to the Group I Loans, and Group II Loans, with respect to each Distribution Date are the "Group I Available Funds" and "Group II Available Funds" for such Distribution Date.
The Certificate Insurance Policy. (a) Within two Business Days after each Master Servicer Remittance Date the Trustee shall determine with respect to the immediately following Distribution Date the amount to be on deposit in the Certificate Accounts on such Distribution Date as a result of the Master Servicer's remittance of the Master Servicer Remittance Amount on the related Master Servicer Remittance Date plus the amount of any amounts deposited into the Certificate Accounts, less the amounts described in clause (f) of Section 6.02 to be withdrawn on such Distribution Date and clauses (i) through (ii) of Section 6.05(b) or 6.05(c) for the related Distribution Date, and not including the amount of any Insured Payment which is required to be deposited in the related Certificate Account for such Distribution Date. The amounts described in the preceding sentence, as determined separately with respect to the Group I Loans and Group II Loans, with respect to each Distribution Date are the "Group I Available Funds" and "Group II Available Funds" for such Distribution Date.
