Term of the Policy has the meaning provided in the Policy.
Term of the Policy means the period from and including the date of issuance of the Policy to and including the date on which (i) the Certificate Principal Balance of the Insured Certificates is reduced to zero, (ii) any period during which any payment of the Insured Certificates could have been avoided in whole or in part as a preference payment under applicable bankruptcy, insolvency, receivership or similar law has expired, and (iii) if any proceedings requisite to avoidance as a preference payment have been commenced prior to the occurrence of (i) and (ii), a final and nonappealable order in resolution of each such proceeding has been entered.
Term of the Policy means the period from and including the Effective Date to and including the date on which all Insured Payments have been paid; provided, however, that in the event that any amount with respect to any Insured Payment paid to the Beneficiary pursuant to the Pooling Agreement during the Term of the Policy becomes a Preference Amount, the Insurer's obligations with respect thereto shall remain in effect or shall be reinstated, as applicable, until payment in full by the Insurer pursuant to the terms hereof.
Examples of Term of the Policy in a sentence
The Term of the Policy is applicable during the periods detailed at Sections 1.4c and 1.4d of this Policy and subject to the rights of termination detailed in 1.6c, and Section 7.7 & 7.8 of this Policy.
Upon the expiration of the Term of the Policy as defined in any Policy, the Trustee will return such Policy to the Certificate Insurer for cancellation; provided that failure to return such Policy will not affect, in any way, the other Policies then-outstanding.
More Definitions of Term of the Policy
Term of the Policy. Means the period mentioned in the Schedule, it is the period during which the Life Insured is covered as per terms and conditions of the Policy.
Term of the Policy means the period from and including the Effective Date to and including the date on which all Insured Payments have been paid; provided, however, that in the event that any amount with respect to any Insured Payment paid to the Beneficiary pursuant to the Pooling Agreement during the Term of the Policy becomes an Avoided Payment, the Insurer's obligations with respect thereto shall remain in effect or shall be reinstated, as applicable, until payment in full by the Insurer pursuant to the terms hereof.
Term of the Policy means the period from and including the Date of Issuance to and including the date on which (i) all Scheduled Payments have been paid or deemed to be paid within the meaning of Section 4.1 of the Indenture; (ii) any period during which any Scheduled Payment could have been avoided in whole or in part as a preference payment under applicable bankruptcy, insolvency, receivership or similar law shall have expired and (iii) if any proceedings requisite to avoidance as a preference payment have been commenced prior to the occurrence of (i) and (ii), a final and nonappealable order in resolution of each such proceeding has been entered.
Term of the Policy has the meaning provided in the Notes Policy.
Term of the Policy means, with respect to each Policy, the meaning provided therein.
Term of the Policy. The period from and including the Closing Date to and including the first date on which (i) all Scheduled Payments have been paid that are required to be paid under this Agreement; (ii) any period during which any Scheduled Payment could have been avoided in whole or in part as a preference payment under applicable bankruptcy, insolvency, receivership or similar law has expired, and (iii) if any proceedings requisite to avoidance as a preference payment have been commenced prior to the occurrence of (i) and (ii) above, a final and nonappealable order in resolution of each such proceeding has been entered; provided, further, that if the holders of Insured Certificates are required to return any Avoided Payment as a result of such Insolvency Proceeding, then the Term of the Policy shall terminate on the date on which the Class A Certificate Insurer has made all payments required to be made under the terms of the Policy in respect of all such Avoided Payments.