The Certificate Policy Sample Clauses
The Certificate Policy clause defines the rules and requirements governing the issuance, management, and use of digital certificates within a system or organization. It typically outlines the procedures for verifying the identity of certificate holders, the responsibilities of parties involved, and the security standards that must be maintained. By establishing clear guidelines for certificate lifecycle management, this clause ensures trust and reliability in digital communications and helps prevent misuse or compromise of certificates.
The Certificate Policy. (A) If, pursuant to Section 4.04(a)(iv), the Master Servicer determines that the Deficiency Amount for such Distribution Date is greater than zero, the Trustee shall complete the Notice and submit such Notice in accordance with the Certificate Policy to the Certificate Insurer no later than 12:00 P.M., New York City time, on the Business Day immediately preceding each Distribution Date, as a claim for an Insured Payment (provided that the Trustee shall submit such notice on the second Business Day immediately preceding such Distribution Date if it is able to do so) in an amount equal to such Deficiency Amount.
(B) Upon receipt of an Insured Payment from the Certificate Insurer on behalf of the Class A-3 Certificateholders, the Trustee shall deposit such Insured Payment in the Certificate Account. The Trustee shall distribute on each Distribution Date the Deficiency Amount for such Distribution Date from the Certificate Account, together with the distributions due to the Class A-3 Certificateholders on such Distribution Date, as follows: (i) the portion of any such Deficiency Amount related to clause (i) of the definition of Deficiency Amount shall be distributed to the Class A-3 Certificateholders in accordance with Section 4.02(c)(i), (ii) the portion of any such Deficiency Amount related to clause (ii) of the definition of Deficiency Amount shall be distributed to the Class A-3 Certificateholders in accordance with Section 4.02(d); and (iii) the portion of any such Deficiency Amount related to clause (iii) of the definition of Deficiency Amount shall be distributed to the Class A-3 Certificateholders in accordance with Section 9.01(c).
(C) The Trustee shall (i) receive as attorney-in-fact of each Class A-3 Certificateholder any Insured Payment from the Certificate Insurer and (ii) distribute such Insured Payment to such Class A-3 Certificateholders as set forth in subsection (b) above. Insured Payments disbursed by the Trustee from proceeds of the Certificate Policy shall not be considered payment by the Trust Fund with respect to the Class A-3 Certificates, nor shall such disbursement of such Insured Payments discharge the obligations of the Trust Fund with respect to the amounts thereof, and the Certificate Insurer shall become owner of such amounts to the extent covered by such Insured Payments as the deemed assignee and subrogee of such Class A-3 Certificateholders. The Trustee hereby agrees on behalf of each Class A-3 Certificateholder (and each Cla...
The Certificate Policy