Certificate Insurer Default. Any right conferred to Class A-2 Certificate Insurer shall be suspended during any period in which a Class A-2 Certificate Insurer Default exists. At such time as the Class A-2 Certificates are no longer outstanding hereunder, and no amounts owed to the Class A-2 Certificate Insurer hereunder remain unpaid, the Class A-2 Certificate Insurer's rights hereunder shall terminate.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Capital I Inc Series 2003 Nc2), Pooling and Servicing Agreement (Morgan Stanley Dean Witter Capital I Inc Series 2002-Nc5), Pooling and Servicing Agreement (Morgan Stanley Abs Capital I Mort Ps-THR Cer Ser 2003-Nc5)
Certificate Insurer Default. Any right conferred to the Class A-2 A-1 Certificate Insurer shall be suspended during any period in which a Class A-2 A-1 Certificate Insurer Default exists. At such time as the Class A-2 A-1 Certificates are no longer outstanding hereunder, and no amounts owed to the Class A-2 A-1 Certificate Insurer hereunder remain unpaid, the Class A-2 A-1 Certificate Insurer's rights hereunder shall terminate.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Abs Capital I Inc)
Certificate Insurer Default. Any right conferred to Class A-2 Certificate Insurer shall be suspended during any period in which a Class A-2 Certificate Insurer Default exists and is continuing. All such rights shall be automatically reinstated as soon as a Class A-2 Certificate Insurer default no longer exists. At such time as the Class A-2 Certificates are no longer outstanding hereunder, and no amounts owed to the Class A-2 Certificate Insurer hereunder remain unpaid, the Class A-2 Certificate Insurer's rights hereunder shall terminate.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Capital I Inc Series 2002-Am3)
Certificate Insurer Default. Any right conferred to Class A-2 A-1 Certificate Insurer shall be suspended during any period in which a Class A-2 A-1 Certificate Insurer Default exists. At such time as the Class A-2 A-1 Certificates are no longer outstanding hereunder, and no amounts owed to the Class A-2 A-1 Certificate Insurer hereunder hereunder, under the Class A-1 Certificate Insurance Policy and under the Insurance Agreement remain unpaid, the Class A-2 A-1 Certificate Insurer's rights hereunder shall terminate.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Gs Mortgage Securities Corp. Gsaa Home Equity Trust 2004-9)
Certificate Insurer Default. Any right conferred to Class A-2 Certificate Insurer shall be suspended during any period in which a Class A-2 Certificate Insurer Default exists. At such time as the Class A-2 Certificates Certificate are no longer outstanding hereunder, and no amounts owed to the Class A-2 Certificate Insurer hereunder remain unpaid, the Class A-2 Certificate Insurer's rights hereunder shall terminate.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Capital I Inc Trust 2002-Nc3)
Certificate Insurer Default. Any right conferred to Class A-2 A-1 Certificate Insurer shall be suspended during any period in which a Class A-2 A-1 Certificate Insurer Default exists. At such time as the Class A-2 A-1 Certificates are no longer outstanding hereunder, and no amounts owed to the Class A-2 A-1 Certificate Insurer hereunder remain unpaid, the Class A-2 A-1 Certificate Insurer's rights hereunder shall terminate.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Gs Mortgage Sec Corp Mortgage Pass THR Certs Ser 2003-Sea)
