Effect of Payments by the Note Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Notes which is made with moneys received pursuant to the terms of the Note Insurance Policy shall not be considered payment of such Notes from the Trust and shall not result in the payment of or the provision for the payment of the principal of or interest on such Notes within the meaning of Section
Appears in 6 contracts
Samples: Sale and Servicing Agreement (Amresco Residential Securities Corp), Sale and Servicing Agreement (Imc Securities Inc), Sale and Servicing Agreement (Bear Stearns Asset Backed Securities Inc)
Effect of Payments by the Note Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Notes which is made with moneys received pursuant to the terms of the Note Insurance Policy shall not be considered payment of such Notes from the Trust and shall not result in the payment of or the provision for the payment of the principal of or interest on such Notes within the meaning of SectionSection 3.03.
Appears in 2 contracts
Samples: Sale and Servicing Agreement (Imc Home Equity Loan Owner Trust 1998-6), Sale and Servicing Agreement (Imc Home Equity Loan Owner Trust 1998-4)
Effect of Payments by the Note Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Notes which is made with moneys received pursuant to the terms of the Note Insurance Policy shall not be considered payment of such Notes from the Trust and shall not result in the payment of or the provision for the payment of the principal of or interest on such Notes within the meaning of Section
Appears in 2 contracts
Samples: Sale and Servicing Agreement (Green Tree Financial Corp), Sale and Servicing Agreement (Green Tree Financial Corp)
Effect of Payments by the Note Insurer; Subrogation. Anything herein or in the Indentures to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Notes which is made with moneys received pursuant to the terms of the Note Insurance Policy Policies shall not be considered payment of such Notes from the Trust and shall not result in the payment of or the provision for the payment of the principal of or interest on such Notes within the meaning of Section
Appears in 1 contract
Samples: Sale and Servicing Agreement (First Alliance Mortgage Loan Trust 1998-2)
Effect of Payments by the Note Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Notes which is made with moneys received pursuant to the terms of either of the Note Insurance Policy Policies shall not be considered payment of such Notes from the Trust Issuer and shall not result in the payment of or the provision for the payment of the principal of or interest on such Notes within the meaning of SectionSection 6.03.
Appears in 1 contract
Samples: Indenture (Imc Securities Inc)
