Common use of Application of Policy Drawings Clause in Contracts

Application of Policy Drawings. Notwithstanding anything to the contrary contained in this Indenture, all payments received by the Drawing Agent or the Pass Through Trustee in respect of a Policy Drawing (including, without limitation, that portion, if any, of the proceeds of a Policy Drawing for any Avoided Payment that is to be paid to the Drawing Agent and not to any receiver, conservator, debtor-in-possession or trustee in bankruptcy as provided in the Policy) shall be promptly paid to the holders of the Certificates.

Application of Policy Drawings. Notwithstanding anything to the contrary contained in this Indenture, all payments received by the Drawing Agent or the Pass Through Trustee in respect of a Policy Drawing (including, without limitation, that portion, if any, of the proceeds of a Policy Drawing for any Avoided Payment that is to be paid to the Drawing Agent 104 and not to any receiver, conservator, debtor-in-possession or trustee in bankruptcy as provided in the Policy) shall be promptly paid to the holders of the Certificates.