Common use of Rights of the NIMS Insurer Clause in Contracts

Rights of the NIMS Insurer. Each of the rights of the NIMS Insurer set forth in this Agreement shall exist so long as (i) the NIMS Insurer has undertaken to guarantee certain payments of notes issued pursuant to an indenture and (ii) any series of such notes issued pursuant to one or more indentures remain outstanding or the NIMS Insurer is owed amounts in respect of its guarantee of payment on such notes; provided, however, that the NIMS Insurer shall not have any rights hereunder 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. The Seller shall notify the Servicer, the Securities Administrator and the Trustee in writing of the appointment of a NIMS Insurer immediately following such appointment. The Servicer, the Securities Administrator and the Trustee shall not be under any obligation to provide notice or to deliver any document hereunder to the NIMS Insurer unless it has received notice of the appointment of a NIMS Insurer hereunder.

Rights of the NIMS Insurer. Each of the rights of the NIMS Insurer set forth in this Agreement shall exist so long as (i) the NIMS Insurer has undertaken to guarantee certain payments of notes issued pursuant to an indenture and (ii) any series of such notes issued pursuant to one or more indentures remain outstanding or the NIMS Insurer is owed amounts in respect of its guarantee of payment on such notes; provided, however, that the NIMS Insurer shall not have any rights hereunder 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. The Seller shall notify the Servicer, the Securities Administrator Servicer and the Trustee in writing of the appointment of a NIMS Insurer immediately following such appointment. The Servicer, the Securities Administrator Servicer and the Trustee shall not be under any obligation to provide notice or to deliver any document hereunder to the NIMS Insurer unless it has received notice of the appointment of a NIMS Insurer hereunder.

Rights of the NIMS Insurer. Each of the rights of the NIMS Insurer set forth in this Agreement shall exist so long as (i) the NIMS Insurer has undertaken to guarantee certain payments of notes issued pursuant to an indenture and (ii) any series of such notes issued pursuant to one or more indentures remain outstanding or the NIMS Insurer is owed amounts in respect of its guarantee of payment on such notes; provided, however, that the NIMS Insurer shall not have any rights hereunder 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. The Seller shall notify the Servicer, the Securities Administrator and the Trustee in writing of the appointment of a NIMS Insurer immediately following such appointment. The Servicer, the Securities Administrator and the Trustee shall not be under any obligation to provide notice or to deliver any document hereunder to the NIMS Insurer unless it has received notice of the appointment of a NIMS Insurer hereunder.

Rights of the NIMS Insurer. Each of the rights of the NIMS Insurer set forth in this Agreement shall exist so long as (i) the NIMS Insurer has undertaken to guarantee certain payments of notes issued pursuant to an indenture Indenture and (ii) any series of such notes issued pursuant to one or more indentures Indentures remain outstanding or the NIMS Insurer is owed amounts in respect of its guarantee of payment on such notes; provided, however, that the NIMS Insurer shall not have any rights hereunder (except pursuant to Section 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 Indenture or (ii) any default has occurred and is continuing under the insurance policy issued by the NIMS Insurer with respect to such notes. The Seller Depositor shall notify provide notice to the Servicer, the Securities Administrator and the Trustee in writing of the appointment of Servicer if a NIMS Insurer immediately following such appointment. The Servicerhas been engaged, upon the Securities Administrator and occurrence of a default under the Trustee shall not be under any obligation to provide notice or to deliver any document hereunder to insurance policy issued by the NIMS Insurer unless it has received notice and the termination of the appointment of a NIMS Insurer hereunderInsurer.

Rights of the NIMS Insurer. Each of the rights of the NIMS Insurer set forth in this Agreement shall exist so long as (i) the NIMS Insurer has undertaken to guarantee certain payments of notes issued pursuant to an indenture and (ii) any series of such notes issued pursuant to one or more indentures remain outstanding or the NIMS Insurer is owed amounts in respect of its guarantee of payment on such notes; provided, however, that the NIMS Insurer shall not have any rights hereunder 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. The Seller shall notify the Servicer, the Master Servicer, the Securities Administrator and the Trustee in writing of the appointment of a NIMS Insurer immediately following such appointment. The Servicer, the Master Servicer, the Securities Administrator and the Trustee shall not be under any obligation to provide notice or to deliver any document hereunder to the NIMS Insurer unless it has received notice of the appointment of a NIMS Insurer hereunder.

Rights of the NIMS Insurer. Each of the rights of the NIMS Insurer set forth in this Agreement shall exist so long as (i) the NIMS Insurer has undertaken to guarantee certain payments of notes issued pursuant to an indenture and (ii) any series of such notes issued pursuant to one or more indentures remain outstanding or the NIMS Insurer is owed amounts in respect of its guarantee of payment on such notes; provided, however, that the NIMS Insurer shall not have any rights hereunder 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. The Seller shall notify the Servicer, the Securities Administrator and the Trustee in writing of the appointment of a NIMS Insurer immediately following such appointment. The Servicer, the Securities Administrator and the Trustee shall not be under any obligation to provide notice or to deliver any document hereunder to the NIMS Insurer unless it has received notice of the appointment of a NIMS Insurer hereunder.

Rights of the NIMS Insurer. Each of the rights of the NIMS Insurer set forth in this Agreement shall exist so long as (i) the NIMS Insurer has undertaken to guarantee certain payments of notes issued pursuant to an indenture Indenture and (ii) any series of such notes issued pursuant to one or more indentures Indentures remain outstanding or the NIMS Insurer is owed amounts in respect of its guarantee of payment on such notes; provided, however, that the NIMS Insurer shall not have any rights hereunder (except pursuant to Section 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 Indenture or (ii) any default has occurred and is continuing under the insurance policy issued by the NIMS Insurer with respect to such notes. The Seller Depositor shall notify the Servicer, the Securities Administrator and the Trustee in writing of the appointment of provide notice to each Servicer if a NIMS Insurer immediately following such appointment. The Servicerhas been engaged, upon the Securities Administrator and occurrence of a default under the Trustee shall not be under any obligation to provide notice or to deliver any document hereunder to insurance policy issued by the NIMS Insurer unless it has received notice and the termination of the appointment of a NIMS Insurer hereunderInsurer.

Rights of the NIMS Insurer. Each of the rights of the NIMS Insurer set forth in this Agreement shall exist so long as (i) the NIMS Insurer has undertaken to guarantee certain payments of notes issued pursuant to an indenture Indenture and (ii) any series of such notes issued pursuant to one or more indentures Indentures remain outstanding or the NIMS Insurer is owed amounts in respect of its guarantee of payment on such notes; provided, however, that the NIMS Insurer shall not have any rights hereunder so long as (except pursuant to Section 11.01 in the case of clause (ii) below) during the period of time, if any, that (i) the NIMS Insurer has not undertaken to guarantee certain payments of notes issued pursuant to the indenture Indenture or (ii) any default has occurred and is continuing under the insurance policy issued by the NIMS Insurer with respect to such notes. The Seller In the event a NIMS Insurer is appointed, the Trustee, to the extent such information is provided to it by the NIMS Insurer, shall notify provide notice of such appointment to the Servicer, including notice information for the Securities Administrator and NIMS Insurer. In the Trustee in writing of event that the appointment of a notice information for the NIMS Insurer immediately following such appointment. The Serviceris not provided, the Securities Administrator and the Trustee Servicer shall not be under any obligation have no liability for failure to provide notice or to deliver any document hereunder notices to the NIMS Insurer unless it has received notice of the appointment of a NIMS Insurer hereunderInsurer.

Rights of the NIMS Insurer. Each of the rights of the NIMS NIMs Insurer set forth in this Agreement shall exist so long as (i) the NIMS NIMs Insurer has undertaken to guarantee certain payments of notes NIM Notes issued pursuant to an indenture and (ii) any series of such notes NIM Notes issued pursuant to one or more indentures remain outstanding or the NIMS NIMs Insurer is owed amounts in respect of its guarantee of payment on such notes; provided, however, that the NIMS NIMs Insurer shall not have any rights hereunder so long as (i) the NIMS 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 NIMs Insurer with respect to such notes. The Seller shall notify the Servicer, the Securities Administrator Servicer and the Trustee in writing of the appointment of a NIMS NIMs Insurer immediately following such appointment. The Servicer, the Securities Administrator Servicer and the Trustee shall not be under any obligation to provide notice or to deliver any document hereunder to the NIMS NIMs Insurer unless it has received notice of the appointment of a NIMS NIMs Insurer hereunder.

Rights of the NIMS Insurer. Each of the rights of the NIMS Insurer set forth in this Agreement shall exist so long as (i) the NIMS Insurer has undertaken to guarantee certain payments of notes issued pursuant to an indenture the Indenture and (ii) any series of such the notes issued pursuant to one or more indentures the Indenture remain outstanding or the NIMS Insurer is owed amounts in respect of its guarantee of payment on such notes; provided, however, that the NIMS Insurer shall not have any rights hereunder (except pursuant to Section 11.01 and any rights to indemnification hereunder in the case of clause (y) below) so long as (ix) the NIMS Insurer has not undertaken to guarantee certain any payments in respect of notes issued pursuant to the indenture an Indenture or (iiy) any default has occurred and is continuing under the insurance policy issued by the NIMS Insurer with respect to such notes. The Seller Depositor shall notify the Servicerall other parties to this Agreement, the Securities Administrator and the Trustee in writing writing, of the appointment engagement of a NIMS Insurer immediately following Insurer, no later than the date on which such appointment. The Servicer, the Securities Administrator and the Trustee shall not be under any obligation to provide notice or to deliver any document hereunder to the NIMS Insurer unless it has received notice of the appointment of a NIMS Insurer hereunderis engaged to guarantee certain payments as described above.

Rights of the NIMS Insurer. Each of the rights of the NIMS Insurer set forth in this Agreement shall exist so long as (i) the NIMS Insurer has undertaken to guarantee certain payments of notes issued pursuant to an indenture Indenture and (ii) any series of such notes issued pursuant to one or more indentures Indentures remain outstanding or the NIMS Insurer is owed amounts in respect of its guarantee of payment on such notes; provided, however, that the NIMS Insurer shall not have any rights hereunder (except pursuant to Section 11.01 in the case of clause (ii) below) so long as (ia) the NIMS Insurer has not undertaken to guarantee certain payments of notes issued pursuant to the indenture Indenture or (iib) any default has occurred and is continuing under the insurance policy issued by the NIMS Insurer with respect to such notes. The Seller Depositor shall notify provide notice to the Servicer, the Securities Administrator and the Trustee in writing of the appointment of Servicer if a NIMS Insurer immediately following such appointment. The Servicerhas been engaged, upon the Securities Administrator and occurrence of a default under the Trustee shall not be under any obligation to provide notice or to deliver any document hereunder to insurance policy issued by the NIMS Insurer unless it has received notice and the termination of the appointment of a NIMS Insurer hereunderInsurer.