Common use of Consent of Insurer Clause in Contracts

Consent of Insurer. Unless otherwise specified, whenever in this Indenture the taking of any action, giving of any instruction or direction, exercise of any right or remedy or effectiveness of any amendment is conditioned upon the approval of, acceptance by or consent of the Insurer (whether written or otherwise), such approval, acceptance or consent requirement shall be waived so long as an Insurer Default exists and is continuing; provided, however, that regardless of whether an Insurer Default has occurred and is continuing, the foregoing provision shall not be construed so as to deny any right of the Insurer under this Indenture to receive any Reimbursement Amounts due and owing to it under the Insurance and Indemnity Agreement.

Consent of Insurer. Unless otherwise specified, whenever in this Indenture Agreement the taking of any action, giving of any instruction or direction, exercise of any right or remedy or effectiveness of any amendment is conditioned upon the approval of, acceptance by or consent of the Insurer (whether written or otherwise), such approval, acceptance or consent requirement shall be waived so long as an Insurer Default exists and is continuing; provided, however, that regardless of whether an Insurer Default has occurred and is continuing, the foregoing provision shall not be construed so as to deny any right of the Insurer under this Indenture Agreement to receive any Reimbursement Amounts due and owing to it under the Insurance and Indemnity Agreement.

Consent of Insurer. Unless otherwise specified, whenever in this Indenture the taking of any action, giving of any instruction or direction, exercise of any right or remedy or effectiveness of any amendment is conditioned upon the approval of, acceptance by or consent of the Insurer (whether written or otherwise), such approval, acceptance or consent requirement shall be waived so long as an Insurer Default exists and is continuing; provided, however, that regardless of whether an Insurer Default has occurred and is continuing, the foregoing provision shall not be construed so as to deny any right of the Insurer under this Indenture to receive any Reimbursement Amounts due and owing to it under the Insurance and Indemnity Agreement.