Scheduled Payments

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