Group II Insured Distribution Amount definition
Examples of Group II Insured Distribution Amount in a sentence
Amounts paid under the Certificate Insurance Policy, to the extent needed to pay the Group I Insured Distribution Amount or Group II Insured Distribution Amount shall be transferred by the Trustee from the Certificate Insurance Payments Account to the related Certificate Account on the related Distribution Date and disbursed by the Trustee to Certificateholders in accordance with Section 6.05.
The Trustee shall deposit upon receipt any amount paid under the Certificate Insurance Policy in the Certificate Insurance Payments Account and distribute such amount only for purposes of payment to Certificateholders of the Group I Insured Distribution Amount or Group II Insured Distribution Amount for which a claim was made and such amount may not be applied to satisfy any costs, expenses or liabilities of the Master Servicer, the Trustee or the Trust Fund.
In those cases, the faculty member will be notified as soon as possible.
Amounts paid under the Certificate Insurance Policy, to the extent needed to pay the Group I or Group II Insured Distribution Amount shall be transferred by the Trustee from the Certificate Insurance Payments Account to the related Certificate Account on the related Distribution Date and disbursed by the Trustee to Certificateholders in accordance with Section 6.05.