Notice for Payment definition

Notice for Payment means a Notice of Nonpayment as such term is defined in the Policy.

Notice for Payment shall have the meaning assigned to that term in the Insurance Policy.

Notice for Payment. As defined in Section 4.01.

Examples of Notice for Payment in a sentence

• To the extent the Insurer is required pursuant to the terms of the Policy to pay the amount of such excess deficiency of the Monthly Servicing Fee, Monthly Interest and Monthly Principal, the Indenture Trustee shall promptly (and in any event not later than 1:00 p.m., New York City time, on the Business Day preceding the Payment Date) deliver a Notice for Payment as defined in the Policy (appropriately completed) to the Fiscal Agent with respect to the Policy.

• The Notice for Payment shall specify the amount of the Insurance Policy Draw Amount and shall constitute a claim for an Insurance Policy Draw Amount pursuant to the Insurance Policy.

• The Notice for Payment shall specify the amount of the Interest Deficiency Draw Amount and/or the Final Principal Deficiency Amount (as each such term is defined in the Policy) and shall constitute a claim pursuant to the Policy.

• The Trustee shall promptly (and in any event not later than 1:00 p.m. New York City time on the Business Day preceding the Distribution Date) deliver a Notice for Payment as defined in the Surety Bond (appropriately completed) to the Surety Bond Issuer with respect to the Surety Bond.

• The Notice for Payment shall specify the amount of the Insured Payment and the Class of Notes with respect to which such Insured Payment is to be made, and shall constitute a claim for an Insured Payment pursuant to the applicable Insurance Policy.

More Definitions of Notice for Payment

Notice for Payment has the meaning given to such term in the Policy.

Notice for Payment has the meaning set forth in Section 3.10(a) hereof.

Notice for Payment has the meaning given to such term in each of the Surety Bonds.

Notice for Payment. As defined in Section 4.01. Officer's Certificate: A certificate signed by the President, an Executive Vice President, a Senior Vice President, a Vice President, an Assistant Vice President, the Treasurer, Assistant Treasurer, Controller or Assistant Controller of the Master Servicer or the Depositor, as the case may be, and delivered to the Indenture Trustee and the Insurer.

Notice for Payment shall have the meaning set forth in the Surety Bond.

Notice for Payment. As defined in the related Insurance Agreement.

Notice for Payment. A written or telecopied notice from the Indenture Trustee to the Note Insurer, as set forth in the Policy. Obligor: With respect to a Receivable, the purchaser or the co-purchasers of the related Financed Vehicle and any other Person or Persons who are primarily or secondarily obligated to make payments under such Receivable.