Rights of the NIMS Insurer. Each of the rights of any NIMS Insurer set forth in this Agreement shall exist so long as (i) the NIMS Insurer has undertaken to guarantee certain payments of NIM Securities issued pursuant to the Indenture and (ii) the NIM Securities issued pursuant to the Indenture remain outstanding or the NIMS Insurer is owed amounts in respect of its guarantee of payment on such notes; provided, however, the NIMS Insurer shall not have any rights hereunder (except pursuant to Section 11.03 and any rights to indemnification hereunder in the case of clause (ii) below) so long as (i) the NIMS Insurer has not undertaken to guarantee certain payments of notes issued pursuant to the Indenture or (ii) any default has occurred and is continuing under the insurance policy issued by the NIMS Insurer with respect to such notes.
Appears in 22 contracts
Samples: Trust Agreement (Lehman XS Trust Series 2007-15n), Trust Agreement (Lehman XS Trust Series 2007-20n), Trust Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2007-3)
Rights of the NIMS Insurer. Each of the rights of any the NIMS Insurer set forth in this Agreement shall exist so long as (i) the NIMS Insurer has undertaken to guarantee certain payments of NIM Securities notes issued pursuant to the Indenture and (ii) the NIM Securities notes issued pursuant to the Indenture remain outstanding or the NIMS Insurer is owed amounts in respect of its guarantee of payment on such notes; provided, however, the NIMS Insurer shall not have any rights hereunder (except pursuant to Section 11.03 and any rights to indemnification hereunder in the case of clause (ii) below) so long as (i) the NIMS Insurer has not undertaken to guarantee certain payments of notes issued pursuant to the Indenture or (ii) any default has occurred and is continuing under the insurance policy issued by the NIMS Insurer with respect to such notes.
Appears in 7 contracts
Samples: Pooling and Servicing Agreement (Option One Mort Accept Corp Asset Backed Cert Ser 2002-3), Pooling and Servicing Agreement (Ameriquest Mort Sec Inc Asset BCKD Ps THR Cert Ser 2002-Ar1), Pooling and Servicing Agreement (Option One Mortgage Accept Corp Asset Backed Cer Ser 2002-4)
Rights of the NIMS Insurer. Each of the rights of any the NIMS Insurer set forth in this Agreement shall exist so long as (i) the NIMS Insurer has undertaken to guarantee certain payments of NIM Securities notes issued pursuant to the Indenture and (ii) the NIM Securities any series of notes issued pursuant to the Indenture remain outstanding or the NIMS Insurer is owed amounts in respect of its guarantee of payment on such notes; provided, however, the NIMS Insurer shall not have any rights hereunder (except pursuant to Section 11.03 11.01 and any rights to indemnification hereunder in the case of clause (ii) below) so long as (i) the NIMS Insurer has not undertaken to guarantee certain payments of notes issued pursuant to the Indenture or (ii) any default has occurred and is continuing under the insurance policy issued by the NIMS Insurer with respect to such notes.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (MASTR Asset Backed Securities Trust 2006-Wmc1), Pooling and Servicing Agreement (MASTR Asset Backed Securities Trust 2006-Wmc1), Pooling and Servicing Agreement (Mastr Asset Backed Securities Trust 2006-Fre1)
Rights of the NIMS Insurer. Each of the rights of any the NIMS Insurer set forth in this Agreement shall exist so long as (i) the NIMS Insurer has undertaken to guarantee certain payments of NIM Securities notes issued pursuant to the Indenture and (ii) the NIM Securities notes issued pursuant to the Indenture remain outstanding or the NIMS Insurer is owed amounts in respect of its guarantee of payment on such notes; provided, however, the NIMS Insurer shall not have any rights hereunder (except pursuant to Section 11.03 12.01 and any rights to indemnification hereunder in the case of clause (ii) below) so long as (i) the NIMS Insurer has not undertaken to guarantee certain payments of notes issued pursuant to the Indenture or (ii) any default has occurred and is continuing under the insurance policy issued by the NIMS Insurer with respect to such notes.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2007-1), Pooling and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2007-1), Pooling and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2007-1)
Rights of the NIMS Insurer. Each of the rights of any the NIMS Insurer set forth in this Agreement shall exist so long as (i) the NIMS Insurer has undertaken to guarantee certain payments of NIM Securities notes issued pursuant to the Indenture and (ii) the NIM Securities notes issued pursuant to the Indenture remain outstanding or the NIMS Insurer is owed amounts in respect of its guarantee of payment on such notespursuant to the Indenture; provided, however, the NIMS Insurer shall not have any rights hereunder (except pursuant to Section 11.03 11.01 and any rights to indemnification hereunder in the case of clause (ii) below) so long as (i) the NIMS Insurer has not undertaken to guarantee certain payments of notes issued pursuant to the Indenture or (ii) any default NIMS Insurer Default has occurred and or is continuing under the insurance policy issued by the NIMS Insurer with respect to such notescontinuing.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2007-Hf2), Pooling and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2007-Hf1)
Rights of the NIMS Insurer. Each of the rights of any the NIMS Insurer Insurer, if any, set forth in this Agreement shall exist so long as (i) the such NIMS Insurer has undertaken to guarantee certain payments of NIM Securities notes issued pursuant to the Indenture and (ii) the NIM Securities notes issued pursuant to the Indenture remain outstanding or the such NIMS Insurer is owed amounts in respect of its guarantee of payment on such notespursuant to the Indenture; provided, however, the such NIMS Insurer shall not have any rights hereunder (except pursuant to [[Section 11.03 11.01]] and any rights to indemnification hereunder in the case of clause (ii) below) so long as (i) the such NIMS Insurer has not undertaken to guarantee certain payments of notes issued pursuant to the Indenture or (ii) any default NIMS Insurer Default has occurred and or is continuing under the insurance policy issued by the NIMS Insurer with respect to such notescontinuing.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-Oa3 /DE), Pooling and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-Oa3 /DE)
Rights of the NIMS Insurer. Each of the rights of any the NIMS Insurer Insurer, if any, set forth in this Agreement shall exist so long as (i) the such NIMS Insurer has undertaken to guarantee certain payments of NIM Securities notes issued pursuant to the Indenture and (ii) the NIM Securities notes issued pursuant to the Indenture remain outstanding or the such NIMS Insurer is owed amounts in respect of its guarantee of payment on such notespursuant to the Indenture; provided, however, the such NIMS Insurer shall not have any rights hereunder (except pursuant to Section 11.03 11.1 and any rights to indemnification hereunder in the case of clause (ii) below) so long as (i) the such NIMS Insurer has not undertaken to guarantee certain payments of notes issued pursuant to the Indenture or (ii) any default NIMS Insurer Default has occurred and or is continuing under the insurance policy issued by the NIMS Insurer with respect to such notescontinuing.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust Series 2007-Oa5 /DE), Pooling and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-3)
Rights of the NIMS Insurer. Each of the rights of any the NIMS Insurer set forth in this Agreement shall exist so long as (i) the NIMS Insurer has undertaken to guarantee certain payments of NIM Securities notes issued pursuant to the Indenture and (ii) the NIM Securities notes issued pursuant to the Indenture remain outstanding or the NIMS Insurer is owed amounts in respect of its guarantee of payment on such notes; provided, however, the NIMS Insurer shall not have any rights hereunder (except pursuant to Section 11.03 and any rights to indemnification hereunder 11.01 in the case of clause (ii) below) so long as (i) the NIMS Insurer has not undertaken to guarantee certain payments of notes issued pursuant to the Indenture or (ii) any default has occurred and is continuing under the insurance policy issued by the NIMS Insurer with respect to such notes.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Option One Mortgage Accept Corp Asset-Backed Cert Se 2002-6), Pooling and Servicing Agreement (Ameriquest Mortgage Securities Inc as Bk Ps THR CRTS Se 02-4)
Rights of the NIMS Insurer. Each of the rights of any the NIMS Insurer Insurer, if any, set forth in this Agreement shall exist so long as (i) the such NIMS Insurer has undertaken to guarantee certain payments of NIM Securities notes issued pursuant to the Indenture and (ii) the NIM Securities notes issued pursuant to the Indenture remain outstanding or the such NIMS Insurer is owed amounts in respect of its guarantee of payment on such notespursuant to the Indenture; provided, however, the such NIMS Insurer shall not have any rights hereunder (except pursuant to Section 11.03 11.01 and any rights to indemnification hereunder in the case of clause (ii) below) so long as (i) the such NIMS Insurer has not undertaken to guarantee certain payments of notes issued pursuant to the Indenture or (ii) any default NIMS Insurer Default has occurred and or is continuing under the insurance policy issued by the NIMS Insurer with respect to such notescontinuing.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-Oa4 /DE), Pooling and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust Series 2007-2)
Rights of the NIMS Insurer. Each of the rights of any the NIMS Insurer set forth in this Agreement shall exist so long as (i) the NIMS Insurer has undertaken to guarantee certain payments of NIM Securities notes issued pursuant to the an Indenture and (ii) the NIM Securities notes issued pursuant to the such Indenture remain outstanding or the NIMS Insurer is owed amounts in respect of its guarantee of payment on such notes; provided, however, the NIMS Insurer shall not have any rights hereunder (except pursuant to Section 11.03 11.01 and any rights to indemnification hereunder in the case of clause (ii) below) so long as (i) the NIMS Insurer has not undertaken to guarantee certain payments of notes issued pursuant to the Indenture or (ii) any default has occurred and is continuing under the insurance policy issued by the NIMS Insurer with respect to such notes.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2007-Asap2)
