Certificate Insurer Default. Any right conferred to the Certificate Insurer, including, without limitation, the right to receive the Premium Amount pursuant to Section 6.05(b)(i) and 6.05(c)(i), shall be suspended during any period in which a Certificate Insurer Default exists. At such time as the Certificates are no longer outstanding hereunder, and no amounts owed to the Certificate Insurer hereunder remain unpaid, the Certificate Insurer's rights hereunder shall terminate.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Southern Pacific Secured Assets Corp), Pooling and Servicing Agreement (Southern Pacific Secured Assets Corp), Pooling and Servicing Agreement (Morgan Stanley Abs Capital I Inc)
Certificate Insurer Default. Any right conferred to the Certificate Insurer, including, without limitation, the right to receive the Premium Amount pursuant to Section 6.05(b)(i) and 6.05(c)(i), shall be suspended during any period in which a Certificate Insurer Default exists. At such time as the Certificates are no longer outstanding hereunder, and no amounts owed to the Certificate Insurer hereunder remain unpaid, the Certificate Insurer's rights hereunder shall terminate.. 115
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Southern Pacific Secured Assets Corp), Pooling and Servicing Agreement (Southern Pacific Secured Assets Corp)
Certificate Insurer Default. Any right conferred to the Certificate Insurer, including, without limitation, the right to receive the Premium Amount pursuant to Section 6.05(b)(i) and 6.05(c)(i), shall be suspended during any period in which a Certificate Insurer Default exists. At such time as the Certificates are no longer outstanding hereunder, and no amounts owed to the Certificate Insurer hereunder remain unpaid, the Certificate Insurer's rights hereunder shall terminate.. 124
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Southern Pacific Secured Assets Corp)
Certificate Insurer Default. Any right conferred to the Certificate Insurer, including, without limitation, the right to receive the Premium Amount pursuant to Section 6.05(b)(i), 6.05(c)(i) and 6.05(c)(i6.05(d)(i), shall be suspended during any period in which a Certificate Insurer Default exists. At such time as the Certificates are no longer outstanding hereunder, and no amounts owed to the Certificate Insurer hereunder remain unpaid, the Certificate Insurer's rights hereunder shall terminate.. 143
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Southern Pacific Secured Assets Corp)
Certificate Insurer Default. Any right conferred to the Certificate Insurer, including, without limitation, the right to receive the Premium Amount pursuant to Section 6.05(b)(i), 6.05(c)(i) and 6.05(c)(i6.05(d)(i), shall be suspended during any period in which a Certificate Insurer Default exists. At such time as the Certificates are no longer outstanding hereunder, and no amounts owed to the Certificate Insurer hereunder remain unpaid, the Certificate Insurer's rights hereunder shall terminate.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Southern Pacific Secured Assets Corp)
