Claims Under Policy. (a) In the event that the Indenture Trustee has delivered a Deficiency Notice with respect to any Determination Date, if the Policy Claim Amount for the related Payment Date is greater than zero, the Indenture Trustee shall furnish to the Insurer (with a copy to the Servicer) no later than 12:00 noon New York City time on the related Deficiency Claim Date a completed Notice of Claim in the amount of the Policy Claim Amount. Amounts paid by the Insurer under the Policy shall be deposited by the Indenture Trustee into the Note Distribution Account on the Business Day immediately preceding the Payment Date for payment to Noteholders on the related Payment Date. The "
Appears in 2 contracts
Samples: Sale and Servicing Agreement (Prudential Securities Secured Financing Corp), Sale and Servicing Agreement (Ml Asset Backed Corp)
Claims Under Policy. (a) In the event that the Indenture Trustee has delivered a Deficiency Notice with respect to any Determination Date, if the Policy Claim Amount for the related Payment Date is greater than zero, the Indenture Trustee shall furnish to the Insurer (with a copy to the Servicer) no later than 12:00 noon New York City time on the related Deficiency Claim Draw Date a completed Notice of Claim in the amount of the Policy Claim Amount. Amounts paid by the Insurer under the Policy shall be deposited by the Indenture Trustee into the Note Distribution Account on the Business Day immediately preceding the Payment Date for payment to Noteholders on the related Payment Date. The "
Appears in 2 contracts
Samples: Sale and Servicing Agreement (Prudential Securities Secured Financing Corp), Sale and Servicing Agreement (Painewebber Asset Acceptance Corp)
Claims Under Policy. (a) In the event that the Indenture Trustee has delivered a Deficiency Notice with respect to any Determination Date, if the Policy Claim Amount for the related Payment Date is greater than zero, the Indenture Trustee shall furnish to the Insurer (with a copy to the Servicer) no later than 12:00 noon New York City time on the related Deficiency Claim Date a completed Notice of Claim in the amount of the Policy Claim Amount. Amounts paid by the Insurer under the Policy shall be deposited by the Indenture Trustee into the Note Distribution Account on the Business Day immediately preceding the Payment Date for payment to Noteholders on the related Payment Date. The "
Appears in 1 contract
Samples: Sale and Servicing Agreement (Ml Asset Backed Corp)
