Scheduled Payments

Scheduled Payments. Shall mean, with respect to any Payment Date, an amount equal to the sum of (a) the Class A Noteholders' Monthly Interest Distributable Amount for the related Payment Date and (b) if the related Payment Date is the Final Scheduled Payment Date for any class of Class A Notes, the outstanding principal amount of such Class on such date after 5 application of all funds available to pay principal amounts on such class of Class A Notes from all sources... other than the Policy; provided that Scheduled Payments shall not include (x) any portion of the Class A Noteholders' Monthly Interest Distributable Amount due to Holders because the Notice in proper form was not timely received by Ambac, or (y) any portion of a Class A Noteholders' Interest Distributable Amount due to Holders representing interest on any Class A Noteholders' Interest Carryover Amount accrued from and including the date of payment of the amount of such Class A Noteholders' Interest Carryover Amount pursuant to the Policy. View More

Scheduled Payments. Means, as to each Insured Distribution Date, payments which are required to be made to Holders in accordance with the original terms of the Obligations when issued and without regard to any subsequent amendment or modification of the Obligations or of the Indenture except amendments or modifications to which Financial Security has given its prior written consent, which payments are (i) the Noteholders' Interest Distributable Amount with respect to the related Distribution Date, (ii) the... Noteholders' Remaining Parity Deficit Amount with respect to the related Distribution Date and (iii) with respect to the Final Scheduled Distribution Date for any class of Obligations, the outstanding principal amount of such class on such Final Scheduled Distribution Date, after taking into account reductions on such date of such outstanding principal amount from all sources other than this Policy. Scheduled Payments do not include payments which become due on an accelerated basis as a result of (a) a default by the Obligor, (b) an election by the Obligor to pay principal on an accelerated basis, (c) the occurrence of an Event of Default under the Indenture or (d) any other cause, unless Financial Security elects, in its sole discretion, to pay in whole or in part such principal due upon acceleration, together with any accrued interest to the date of acceleration. In the event Financial Security does not so elect, this Policy will continue to guarantee payment on the Obligations in accordance with their original terms. Scheduled Payments shall not include (x) any portion of a Noteholders' Interest Distributable Amount due to Holders because the appropriate notice and certificate for payment in proper form as required by paragraph 2 hereof was not timely Received by Financial Security or (y) any portion of a Noteholders' Interest Distributable Amount due to Holders representing interest on any Noteholders' Interest Carryover Amount accrued from and including the date of payment of the amount of such Noteholders' Interest Carryover Amount, unless in each case, Financial Security elects, in its sole discretion, to pay such amount in whole or in part, pursuant hereto. Scheduled Payments shall not include any amounts due in respect of the Obligations attributable to any increase in interest rate, penalty or other sum payable by the Obligor by reason of any default or event of default in respect of the Obligations, or by reason of any deterioration of the credit worthiness of the Obligor, nor shall Scheduled Payments include, nor shall coverage be provided under this Policy in respect of, any taxes, withholding or other charge with respect to any Holder imposed by any governmental authority due in connection with the payment of any Scheduled Payment to a Holder. 2 Policy No. : 51669 -N Date of Issuance: August 30, 2005 View More

Scheduled Payments. Shall mean, with respect to any Distribution Date, an amount equal to the sum of the Noteholders' Interest Distributable Amount (net of any interest shortfalls resulting from the application of Relief Act Shortfalls) and the Noteholders' First Principal Distributable Amount (other than the amount specified in clause (2)(b) of the definition thereof) for the related Distribution Date; provided that Scheduled Payments shall not include (x) any portion of a Noteholders' Interest Distributable... Amount or of a Noteholders' Interest Carryover Amount due to Holders because the Notice in proper form was not timely received by Ambac, or (y) any portion of a Noteholders' Interest Distributable Amount due to Holders representing interest on any prior unpaid Noteholders' Monthly Interest Distributable Amount. For the avoidance of doubt, the Noteholders' Interest Distributable Amount shall be determined after giving effect to any prior payments made by Ambac under this Policy. View More

Scheduled Payments. With respect to any Payment Date, an amount equal to the sum of (a) the Accrued Note Interest (not including any Noteholders' Interest Carryover Shortfall that Ambac has made Insured Payments in respect of on a prior Payment Date) and the Noteholders' Parity Deficit Amount for the related Payment Date and, without duplication, (b) if the related Payment Date is the Final Scheduled Payment Date for any class of Class A Notes, the Note Balance of such Class on such date; provided that Scheduled... Payments shall not include (x) any portion of Accrued Note Interest due to Holders because the Notice in proper form was not timely received by Ambac, or (y) any portion of Accrued Note Interest due to Holders representing interest on any Noteholders' Interest Carryover Shortfall accrued from and including the date of payment of the amount of such Noteholders' Interest Carryover Shortfall pursuant to the Policy. View More