Common use of Conditions Precedent to Issuance of the Policy Clause in Contracts

Conditions Precedent to Issuance of the Policy. The Seller, the Depositor and the Underwriter shall have complied with the terms and satisfied the conditions precedent set forth below: (a) the Underwriter shall have paid or caused to be paid that portion of a non-refundable Premium, if any, payable on the Date of Issuance in accordance with Section 3.03 hereof; (b) the Seller and the Depositor shall have complied with all requirements of the Commitments; (c) the Insurer shall have received true and correct copies of any governmental approvals necessary for the transactions contemplated by this Agreement and the Trust Agreement or a certificate to the effect that no such approvals are necessary; (d) the Insurer shall have received a certificate of an authorized officer of the Seller and the Depositor certifying the name and true signatures of the officers of the Seller and the Depositor executing the Transaction Documents; and (e) the Insurer shall have received confirmation that the risk secured by the Policy constitutes a “AAA” risk by S&P and at least “Aaa” by Moody’s and that the Insured Certificates, when issued, will be rated “AAA” by S&P and “Aaa” by Moody’s without regard to the Policy. Issuance of the Policy will be conclusive evidence of satisfaction or waiver of any of the conditions set forth in this Section 3.02.

Conditions Precedent to Issuance of the Policy. The Seller, the Depositor and the Underwriter shall have complied with the terms and satisfied the conditions precedent set forth below: (a) the Underwriter shall have paid or caused to be paid that portion of a non-refundable Premium, if any, payable on the Date of Issuance in accordance with Section 3.03 hereof; (b) the Seller and the Depositor shall have complied with all requirements of the CommitmentsCommitment; (c) the Insurer shall have received true and correct copies of any governmental approvals necessary for the transactions contemplated by this Agreement and the Trust Agreement or a certificate to the effect that no such approvals are necessary; (d) the Insurer shall have received a certificate of an authorized officer of the Seller and the Depositor certifying the name and true signatures of the officers of the Seller and the Depositor executing the Transaction Documents; and (e) the Insurer shall have received confirmation that the risk secured by the Policy constitutes a “"AAA” " risk by S&P and at least “"Aaa” " by Moody’s 's and that the Insured Certificates, when issued, will be wxxx xx rated “"AAA” " by S&P and “Aaa” by Moody’s without regard to the Policy. Issuance of the Policy will be conclusive evidence of satisfaction or waiver of any of the conditions set forth in this Section 3.02.

Conditions Precedent to Issuance of the Policy. The Each Seller, the Depositor and the Underwriter shall have complied with the terms and satisfied the conditions precedent set forth below: (a) the Underwriter shall have paid or caused to be paid that portion of a non-refundable Premium, if any, payable on the Date of Issuance in accordance with Section 3.03 hereof; (b) the each Seller and the Depositor shall have complied with all requirements of the Commitments; (c) the Insurer shall have received true and correct copies of any governmental approvals necessary for the transactions contemplated by this Agreement and the Trust Agreement or a certificate to the effect that no such approvals are necessary; (d) the Insurer shall have received a certificate of an authorized officer of the each Seller and the Depositor certifying the name and true signatures of the officers of the each Seller and the Depositor executing the Transaction Documents; and (e) the Insurer shall have received confirmation that the risk secured by the Policy constitutes a “"AAA” " risk by S&P and at least “"Aaa” " by Moody’s Xxxxx'x and that the Insured Certificates, when issued, will be rated “"AAA” " by S&P and “Aaa” by Moody’s without regard to the Policy. Issuance of the Policy will be conclusive evidence of satisfaction or waiver of any of the conditions set forth in this Section 3.02.

Conditions Precedent to Issuance of the Policy. The Seller, the Depositor and the Underwriter shall have complied with the terms and satisfied the conditions precedent set forth below: (a) the Underwriter shall have paid or caused to be paid that portion of a non-refundable Premium, if any, payable on the Date of Issuance in accordance with Section 3.03 hereof; (b) the Seller and the Depositor shall have complied with all requirements of the Commitments; (c) the Insurer shall have received true and correct copies of any governmental approvals necessary for the transactions contemplated by this Agreement and the Trust Agreement or a certificate to the effect that no such approvals are necessary; (d) the Insurer shall have received a certificate of an authorized officer of the Seller and the Depositor certifying the name and true signatures of the officers of the Seller and the Depositor executing the Transaction Documents; and (e) the Insurer shall have received confirmation that the risk secured by the Policy constitutes a “AAA” risk by S&P and at least “Aaa” by Moody’s and that the Insured Certificates, when issued, will be rated “AAA” by S&P and “Aaa” by Moody’s without regard to the Policy. Issuance of the Policy will Policx xxxx be conclusive evidence of satisfaction or waiver of any of the conditions set forth in this Section thxx Xxxxion 3.02.

Conditions Precedent to Issuance of the Policy. The Seller, the Depositor and the Underwriter shall have complied with the terms and satisfied the conditions precedent set forth below: (a) the Underwriter shall have paid or caused to be paid that portion of a non-refundable Premium, if any, payable on the Date of Issuance in accordance with Section 3.03 hereof; (b) the Seller and the Depositor shall have complied with all requirements of the CommitmentsCommitment; (c) the Insurer shall have received true and correct copies of any governmental approvals necessary for the transactions contemplated by this Agreement and the Trust Agreement or a certificate to the effect that no such approvals are necessary; (d) the Insurer shall have received a certificate of an authorized officer of the Seller and the Depositor certifying the name and true signatures of the officers of the Seller and the Depositor executing the Transaction Documents; and (e) the Insurer shall have received confirmation that the risk secured by the Policy constitutes a “"AAA” " risk by S&P and at least “"Aaa” " by Moody’s Xxxxx'x and that the Insured Certificates, when issued, will be rated “"AAA” " by S&P and “Aaa” by Moody’s without regard to the Policy. Issuance of the Policy will be conclusive evidence of satisfaction or waiver of any of the conditions set forth in this Section 3.02.

Conditions Precedent to Issuance of the Policy. The Seller, the Depositor and the Underwriter shall have complied with the terms and satisfied the conditions precedent set forth below: (a) the Underwriter shall have paid or caused to be paid that portion of a non-refundable Premium, if any, payable on the Date of Issuance in accordance with Section 3.03 hereof; (b) the Seller and the Depositor shall have complied with all requirements of the CommitmentsCommitment; (c) the Insurer shall have received true and correct copies of any governmental approvals necessary for the transactions contemplated by this Agreement and the Trust Agreement or a certificate to the effect that no such approvals are necessary; (d) the Insurer shall have received a certificate of an authorized officer of the Seller and the Depositor certifying the name and true signatures of the officers of the Seller and the Depositor executing the Transaction Documents; and (e) the Insurer shall have received confirmation that the risk secured by the Policy constitutes a “AAA” risk by S&P and at least “Aaa” by Moody’s Xxxxx’x and that the Insured Certificates, when issued, will be rated “AAA” by S&P and “Aaa” by Moody’s Xxxxx’x without regard to the Policy. Issuance of the Policy will be conclusive evidence of satisfaction or waiver of any of the conditions set forth in this Section 3.02.

Conditions Precedent to Issuance of the Policy. The Seller, the Depositor and the Underwriter shall have complied with the terms and satisfied the conditions precedent set forth below: (a) the Underwriter shall have paid or caused to be paid that portion of a non-refundable Premium, if any, payable on the Date of Issuance in accordance with Section 3.03 hereof; (b) the Seller and the Depositor shall have complied with all requirements of the CommitmentsCommitment; (c) the Insurer shall have received true and correct copies of any governmental approvals necessary for the transactions contemplated by this Agreement and the Trust Agreement or a certificate to the effect that no such approvals are necessary; (d) the Insurer shall have received a certificate of an authorized officer of the Seller and the Depositor certifying the name and true signatures of the officers of the Seller and the Depositor executing the Transaction Documents; and (e) the Insurer shall have received confirmation that the risk secured by the Policy constitutes a “AAA” risk by S&P and at least “Aaa” by Moody’s and that the Insured Certificates, when issued, will be rated “AAA” by S&P and “Aaa” by Moody’s without regard to the Policy. Issuance of the Policy will Policx xxxx be conclusive evidence of satisfaction or waiver of any of the conditions set forth in this Section thxx Xxxxion 3.02.

Conditions Precedent to Issuance of the Policy. The Seller, the Depositor and the Underwriter shall have complied with the terms and satisfied the conditions precedent set forth below: (a) the Underwriter shall have paid or caused to be paid that portion of a non-refundable nonrefundable Premium, if any, payable on the Date of Issuance in accordance with Section 3.03 hereof;, (b) the Seller and the Depositor shall have complied with all requirements of the CommitmentsCommitment; (c) the Insurer shall have received true and correct copies of any governmental approvals necessary for the transactions contemplated by this Agreement and the Trust Agreement or a certificate to the effect that no such approvals are necessary; (d) the Insurer shall have received a certificate of an authorized officer of the Seller and the Depositor certifying the name and true signatures of the officers of the Seller and the Depositor executing the Transaction Documents; and (e) the Insurer shall have received confirmation that the risk secured by the Policy constitutes a “"AAA” " risk by S&P and at least “"Aaa” " by Moody’s Xxxxx'x and that the Insured Certificates, when issued, will be rated “"AAA” " by S&P and “"Aaa” " by Moody’s Xxxxx'x without regard to the Policy. Issuance of the Policy will be conclusive evidence of satisfaction or waiver of any of the conditions set forth in this Section 3.02.

Conditions Precedent to Issuance of the Policy. The Seller, the Master Servicer, the Depositor and the Underwriter shall have complied with the terms and satisfied the conditions precedent set forth below: (a) the Underwriter shall have paid or caused to be paid that portion of a non-refundable PremiumPremium payable, if any, payable on the Date of Issuance in accordance with Section 3.03 hereof; (b) the Seller and the Depositor shall have complied with all requirements of the CommitmentsCommitment; (c) the Insurer shall have received true and correct copies of any governmental approvals necessary for the transactions contemplated by this Agreement and the Trust Agreement PSA or a certificate to the effect that no such approvals are necessary; (d) the Insurer shall have received a certificate of an authorized officer of the Seller Seller, the Master Servicer and the Depositor certifying the name and true signatures of the officers of the Seller Seller, the Master Servicer and the Depositor executing the Transaction Documents; and (e) the Insurer shall have received confirmation that the risk secured by the Policy constitutes a “"AAA” " risk by S&P and at least “"Aaa” " by Moody’s 's and that the Insured Certificates, when issued, will be rated “bx xxxxx "AAA” " by S&P and “"Aaa” " by Moody’s 's in each case without regard to the Policy. Issuance of Issuxxxx xx the Policy will be conclusive evidence of satisfaction or waiver of any of the conditions set forth in this Section 3.02.

Conditions Precedent to Issuance of the Policy. The Seller, the Depositor and the Underwriter shall have complied with the terms and satisfied the conditions precedent set forth below: (a) the Underwriter shall have paid or caused to be paid that portion of a non-refundable Premium, if any, Premium payable on the Date of Issuance in accordance with Section 3.03 hereof; (b) the Seller and the Depositor shall have complied with all requirements of the CommitmentsCommitment; (c) the Insurer shall have received true and correct copies of any governmental approvals necessary for the transactions contemplated by this Agreement and the Trust Agreement or a certificate to the effect that no such approvals are necessary; (d) the Insurer shall have received a certificate of an authorized officer of the Seller Seller, the Master Servicer and the Depositor certifying the name and true signatures of the officers of the Seller Seller, the Master Servicer and the Depositor executing the Transaction Documents; and (e) the Insurer shall have received confirmation that the risk secured by the Policy constitutes a “"AAA” " risk by S&P and at least “"Aaa” " by Moody’s Xxxxx'x and that the Insured Certificates, when issued, will be rated “"AAA” " by S&P and “Aaa” by Moody’s without regard to the Policy. Issuance of the Policy will be conclusive evidence of satisfaction or waiver of any of the conditions set forth in this Section 3.02.

Conditions Precedent to Issuance of the Policy. The Seller, the Master Servicer, the Depositor and the Underwriter shall have complied with the terms and satisfied the conditions precedent set forth below: (a) the Underwriter shall have paid or caused to be paid that portion of a non-refundable PremiumPremium payable, if any, payable on the Date of Issuance in accordance with Section 3.03 hereof; (b) the Seller and the Depositor shall have complied with all requirements of the CommitmentsCommitment; (c) the Insurer shall have received true and correct copies of any governmental approvals necessary for the transactions contemplated by this Agreement and the Trust Agreement PSA or a certificate to the effect that no such approvals are necessary; (d) the Insurer shall have received a certificate of an authorized officer of the Seller Seller, the Master Servicer and the Depositor certifying the name and true signatures of the officers of the Seller Seller, the Master Servicer and the Depositor executing the Transaction Documents; and (e) the Insurer shall have received confirmation that the risk secured by the Policy constitutes a “"AAA” " risk by S&P and at least “"Aaa” " by Moody’s 's and that the Insured Certificates, when issued, will be rated “xxxxx "AAA” " by S&P and “"Aaa” " by Moody’s 's in each case without regard to the Policy. Issuance of the Issuanxx xx xhe Policy will be conclusive evidence of satisfaction or waiver of any of the conditions set forth in this Section 3.02.