Common use of The Certificate Insurance Policy Clause in Contracts

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.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Southern Pacific Secured Assets Corp), Pooling and Servicing Agreement (Southern Pacific Secured Assets Corp), Pooling and Servicing Agreement (Morgan Stanley Abs Capital I Inc)

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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pursuant to Section 6.13 for such Distribution Date, less the amounts described in clause (f) of Section 6.02 to be withdrawn on such Distribution Date and clauses (i) through (ii) of Section 6.05(b) or (c) for the related Distribution Date, and not including the amount of any Insured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.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Southern Pacific Secured Assets Corp)

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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 clause (f) of Section 6.02 to be withdrawn on such Distribution Date and clauses (i) through (ii) of Section 6.05(b), (c) or (cd) 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, Group II Loans and Group II III Loans, with respect to each Distribution Date are the "Group I Available Funds," "Group II Available Funds" and "Group II III Available Funds" for such Distribution Date.. 92

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Southern Pacific Secured Assets Corp)

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