Common use of The Certificate Insurance Policy Clause in Contracts

The Certificate Insurance Policy. (a) If, on the second Business Day before any Distribution Date, the Trustee determines that an Insured Payment is required to be made by the Certificate Insurer on such Distribution Date, the Trustee shall determine the amount of any such Insured Payment 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 second Business Day as a claim for an Insured Payment. The Trustee’s responsibility for delivering a Notice of Nonpayment to the Certificate Insurer, as provided in the preceding sentence, is limited to the availability, timeliness and accuracy of the information provided to it by the Master Servicer. 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 Class 1-A2B, Class 1-A3B, Class 1-A5 or Class 1-A6 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 Class 1-A2B, Class 1-A3B, Class 1-A5 or Class 1-A6 Certificates, as applicable, 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 Class 1-A2B, Class 1-A3B, Class 1-A5 or Class 1-A6 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) If, on The Trustee shall establish a separate non-interest bearing trust account which shall be an Eligible Account for the second Business Day before any Distribution Date, benefit of Holders of the Trustee determines that an Insured Payment is required to be made by Class A-1 Certificates and the Certificate Insurer on such Distribution Date, referred to herein as the "Policy Payment Account" over which the Trustee shall determine the amount have exclusive control and sole right of any such Insured Payment 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 second Business Day as a claim for an Insured Paymentwithdrawal. The Trustee’s responsibility for delivering a Notice of Nonpayment to the Certificate Insurer, as provided in the preceding sentence, is limited to the availability, timeliness and accuracy of the information provided to it by the Master Servicer. 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 Class 1-A2B, Class 1-A3B, Class 1-A5 or Class 1-A6 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 deposit upon receipt any amount paid under the Certificate Insurance Policy in accordance with the provisions thereof Policy Payment Account and distribute such amount only for purposes of payment to obtain payment by the Certificate Insurer Insured Certificates of the Policy Payment for which a claim was made and such voided scheduled payment. In additionamount may not be applied to satisfy any costs, expenses or liabilities of the Master Servicer, the Trustee shall mail notice or the Trust Fund or to all Holders pay any other Class of the Class 1-A2B, Class 1-A3B, Class 1-A5 or Class 1-A6 Certificates, as applicable, 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 . Amounts paid under the Certificate Insurance Policy, a copy of which to the extent needed to pay any Class A-1 Certificate Deficiency Amount, shall be transferred to the Distribution Account on the related Distribution Date, and the portion thereof representing the Class A-1 Certificate Deficiency Amount shall be disbursed by the Trustee to the Class A-1 Certificateholders, in each case as if it were a distribution to the Holders of such Certificates pursuant to Section 4.01. 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 A-1 Certificateholders, as applicable, with other funds available to make such payment. However, the amount of any payment of principal or of interest on the Insured 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 by of such Class of Certificates pursuant to Section 4.02. Funds held in the TrusteePolicy Payment Account shall not be invested. The Trustee Any funds remaining in the Policy Payment Account on the first Business Day following a Distribution Date shall furnish be returned to the Certificate Insurer and pursuant to the appropriate fiscal agent, if any, its records listing written instructions of the payments on the affected Class 1-A2B, Class 1-A3B, Class 1-A5 or Class 1-A6 Certificates, if any, that have been made Certificate Insurer by the Trustee and subsequently recovered from the affected Holders, and the dates on which end of such payments were made by the TrusteeBusiness Day.

The Certificate Insurance Policy. (a) If, on a)The Trustee hereby appoints the second Business Day before any Distribution Date, Securities Administrator as its agent in connection with the Trustee determines that an Insured Payment is receipt and distribution of all amounts required to be made paid by the Certificate Insurer on such Distribution Date, the Trustee shall determine the amount of any such Insured Payment and shall give written notice to the Certificate Insurer by completing a Notice of Nonpayment in the form of Exhibit A to under the Certificate Insurance Policy and submitting such Notice the providing of Nonpayment by 12:00 noon, New York City time on such second Business Day as a claim for an Insured Paymentany notices required to be provided thereunder. The Trustee’s responsibility Securities Administrator shall establish a separate non-interest bearing trust account which shall be an Eligible Account for delivering a Notice the benefit of Nonpayment to the Certificate Insurer, as provided in the preceding sentence, is limited to the availability, timeliness and accuracy Holders of the information provided to it by the Master Servicer. 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 Class 1-A2B, Class 1-A3B, Class 1-A5 or Class 1-A6 Certificate has been voided in whole or in part as a preference payment under applicable bankruptcy law, the Trustee shall promptly notify A-1B Certificates and the Certificate Insurer in writing, referred to herein as appropriate, the "Policy Payment Account" over which the Securities Administrator shall have exclusive control and the fiscal agent, if any, and the Trustee sole right of withdrawal. The Securities Administrator shall make a claim on deposit upon receipt any amount paid under the Certificate Insurance Policy in accordance with the provisions thereof Policy Payment Account and distribute such amount only for purposes of payment to obtain payment by the Certificate Insurer Class A-1B Certificates of the Policy Payment for which a claim was made and such voided scheduled payment. In additionamount may not be applied to satisfy any costs, expenses or liabilities of the Master Servicer, the Trustee shall mail notice or the Trust Fund or to all Holders pay any other Class of the Class 1-A2B, Class 1-A3B, Class 1-A5 or Class 1-A6 Certificates, as applicable, 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 . Amounts paid under the Certificate Insurance Policy, a copy of which to the extent needed to pay any Class A-1B Certificate Deficiency Amount, shall be transferred to the Distribution Account on the related Distribution Date, and the portion thereof representing the Class A-1B Certificate Deficiency Amount shall be disbursed by the Securities Administrator to the Class A-1B Certificateholders, in each case as if it were a distribution to the Holders of such Certificates pursuant to Section 5.01. 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 A-1B 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 A-1B 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 by of such Class of Certificates pursuant to Section 5.02. Funds held in the TrusteePolicy Payment Account shall not be invested. The Trustee Any funds remaining in the Policy Payment Account on the first Business Day following a Distribution Date shall furnish be returned to the Certificate Insurer and pursuant to the appropriate fiscal agent, if any, its records listing written instructions of the payments on the affected Class 1-A2B, Class 1-A3B, Class 1-A5 or Class 1-A6 Certificates, if any, that have been made Certificate Insurer by the Trustee and subsequently recovered from the affected Holders, and the dates on which end of such payments were made by the TrusteeBusiness Day.

The Certificate Insurance Policy. (a) If, on The Trustee shall establish a separate non-interest bearing trust account which shall be an Eligible Account for the second Business Day before any Distribution Date, benefit of Holders of the Trustee determines that an Insured Payment is required to be made by Class A Certificates and the Certificate Insurer on such Distribution Date, referred to herein as the "Policy Payment Account" over which the Trustee shall determine the amount have exclusive control and sole right of any such Insured Payment 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 second Business Day as a claim for an Insured Paymentwithdrawal. The Trustee’s responsibility for delivering a Notice of Nonpayment to the Certificate Insurer, as provided in the preceding sentence, is limited to the availability, timeliness and accuracy of the information provided to it by the Master Servicer. 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 Class 1-A2B, Class 1-A3B, Class 1-A5 or Class 1-A6 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 deposit upon receipt any amount paid under the Certificate Insurance Policy in accordance with the provisions thereof Policy Payment Account and distribute such amount only for purposes of payment to obtain payment by the Certificate Insurer Class A Certificates of the Policy Payment for which a claim was made and such voided scheduled payment. In additionamount may not be applied to satisfy any costs, expenses or liabilities of the Master Servicer, the Trustee shall mail notice or the Trust Fund or to all Holders pay any other Class of the Class 1-A2B, Class 1-A3B, Class 1-A5 or Class 1-A6 Certificates, as applicable, 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 . Amounts paid under the Certificate Insurance Policy, a copy of which to the extent needed to pay any Class A 104 Certificate Deficiency Amount, shall be transferred to the Distribution Account on the related Distribution Date, and the portion thereof representing the Class A Certificate Deficiency Amount shall be disbursed by the Trustee to the Class A Certificateholders, in each case as if it were a distribution to the Holders of such Certificates pursuant to Section 4.01. 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 A 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 A 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 by of such Class of Certificates pursuant to Section 4.02. Funds held in the TrusteePolicy Payment Account shall not be invested. The Trustee Any funds remaining in the Policy Payment Account on the first Business Day following a Distribution Date shall furnish be returned to the Certificate Insurer and pursuant to the appropriate fiscal agent, if any, its records listing written instructions of the payments on the affected Class 1-A2B, Class 1-A3B, Class 1-A5 or Class 1-A6 Certificates, if any, that have been made Certificate Insurer by the Trustee and subsequently recovered from the affected Holders, and the dates on which end of such payments were made by the TrusteeBusiness Day.

The Certificate Insurance Policy. (a) If, on the second Business Day before any Distribution Date, the Trustee determines that an Insured Payment is required to be made by the Certificate Insurer on such Distribution Date, the Trustee shall determine the amount of any such Insured Payment 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 second Business Day as a claim for an Insured Payment. The Trustee’s responsibility for delivering a Notice of Nonpayment to the Certificate Insurer, as provided in the preceding sentence, is limited to the availability, timeliness and accuracy of the information provided to it by the Master Servicer. 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 Class 1-A2BA3A, Class 1-A3B, Class 1-A5 A5B or Class 1-A6 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 Class 1-A2BA3A, Class 1-A3B, Class 1-A5 A5B or Class 1-A6 Certificates, as applicable, 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 Class 1-A2BA3A, Class 1-A3B, Class 1-A5 A5B or Class 1-A6 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) If, on the second Business Day before any Distribution Date, the Trustee determines that an Insured Payment is required to be made by the Certificate Insurer on such Distribution Date, the The Trustee shall determine establish a separate non-interest bearing trust account which shall be an Eligible Account for the amount benefit of any such Insured Payment 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 second Business Day as a claim for an Insured Payment. The Trustee’s responsibility for delivering a Notice of Nonpayment to the Certificate Insurer, as provided in the preceding sentence, is limited to the availability, timeliness and accuracy of the information provided to it by the Master Servicer. 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 Class 1-A2B, Class 1-A3B, Class 1-A5 or Class 1-A6 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 Class 1-A2B, Class 1-A3B, Class 1-A5 or Class 1-A6 Certificates, AF-3 Certificates and the Certificate Insurer referred to herein as applicable, so affected that, in the event that any "Policy Payment Account" and distribute such Holder’s scheduled amount only for purposes of payment is so recovered, such Holder will be entitled to payment pursuant to the terms 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, a copy of which 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 by of such Class of Certificates pursuant to Section 4.06. Funds held in the TrusteePolicy Payment Account shall not be invested. The Trustee Any funds remaining in the Policy Payment Account on the first Business Day following a Distribution Date shall furnish be returned to the Certificate Insurer and pursuant to the appropriate fiscal agent, if any, its records listing written instructions of the payments on the affected Class 1-A2B, Class 1-A3B, Class 1-A5 or Class 1-A6 Certificates, if any, that have been made Certificate Insurer by the Trustee and subsequently recovered from the affected Holders, and the dates on which end of such payments were made by the TrusteeBusiness Day.