Rights of the NIMS Insurer. (a) Each of the rights of the NIMS Insurer set forth in this Agreement shall exist so long as the Insured NIM Notes remain outstanding; provided, however, the NIMS Insurer shall not have any rights hereunder (except as provided in Section 9.01) so long as any NIMS Insurer Default is continuing. (b) Notwithstanding anything to the contrary anywhere in this Agreement, all rights and benefits of the NIMS Insurer hereunder shall permanently terminate upon such time as the Insured NIM Notes shall no longer be outstanding.
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Samples: Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2004-4, Asset-Backed Certs., Series 2004-4), Pooling and Servicing Agreement (Long Beach Sec Corp Asset Backed Certs Ser 2004-1), Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2006-11)
Rights of the NIMS Insurer. (a) Each of the rights of the NIMS Insurer Insurer, if any, set forth in this Agreement shall exist so long as the Insured NIM Notes remain outstanding; provided, however, the NIMS Insurer shall not have any rights hereunder (except as provided in Section 9.01) so long as any NIMS Insurer Default is continuing.
(b) Notwithstanding anything to the contrary anywhere in this Agreement, all rights and benefits of the NIMS Insurer Insurer, if any, hereunder shall permanently terminate upon such time as the Insured NIM Notes shall no longer be outstanding.
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