Exclusions from Coverage. The Company shall not be liable for, and the Policy shall not apply to, extend to or cover the exclusions listed below. In the event that coverage is excluded for any Loan, the Company will refund all premium for that Loan for the period following the occurrence of the event giving rise to such exclusion. Except where prohibited by law, if the damage to the Company arising from an excluded event can be reasonably quantified, the Company shall adjust the Claim Amount by the amount of such damage rather than exclude coverage altogether for such Loan, unless a refund of premium as provided for in the preceding sentence would provide a greater payment to the Insured.
Appears in 9 contracts
Samples: Mortgage Insurance Agreement, Bulk Primary First Lien Master Policy (Cwabs Inc Asset Backed Certificates Series 2004-Ab1), Pooling and Servicing Agreement (Ownit Mortgage Loan Trust, Series 2005-5)
