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 the NIM Notes issued pursuant to the Indenture remain outstanding or the NIMs Insurer is owed amounts in respect of its guarantee of payment on such NIM Notes; provided, however, the NIMS Insurer shall not have any rights hereunder (except pursuant to Section 10.14 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 or (ii) any default has occurred and is continuing under the insurance policy issued by the NIMS Insurer with respect to such notes.

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 NIM Notes NIMS Insurer has undertaken to guarantee certain payments of notes issued pursuant to the Indenture an indenture and (ii) any series of 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 NIM Notesnotes; provided, however, that the NIMS Insurer shall not have any rights hereunder (except pursuant to Section 10.14 in the case of clause (ii) below) during the period of time, if any, that 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.

Rights of the NIMS Insurer. Each of the rights of the NIMs Insurer set forth in this Agreement shall exist so long as the NIM Notes issued pursuant to the Indenture remain outstanding or the NIMs Insurer is owed amounts in respect of its guarantee of payment on such NIM Notes; provided, however, the NIMS Insurer shall not have any rights hereunder (except pursuant to Section 10.14 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 or (ii) any default has occurred and is continuing under the insurance policy issued by the NIMS Insurer with respect to such notes.

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 NIM Notes NIMS Insurer has undertaken to guarantee certain payments of notes issued pursuant to an Indenture and (ii) the notes issued pursuant to such Indenture remain outstanding or the NIMs Insurer is owed amounts in respect of its guarantee of payment on such NIM Notes; provided, however, the NIMS Insurer shall not have any rights hereunder (except pursuant to Section 10.14 11.10 and any rights of indemnification hereunder in the case of clause (ii) below) during the period of time, if any, that 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.

Rights of the NIMS Insurer. Each of the rights of the NIMs Insurer set forth in this Agreement shall exist so long as the NIM Notes issued pursuant to the NIM Indenture are insured by a NIMs Insurer and (x) remain outstanding or (y) the NIMs Insurer is owed amounts in respect of its guarantee of payment on such NIM Notes; provided, however, the NIMS Insurer shall not have any rights hereunder (except pursuant to Section 10.14 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 or (ii) any default has occurred and is continuing under the insurance policy issued by the NIMS Insurer with respect to such notes. The Owner Trustee may fully rely upon a certificate of the Depositor or NIMs Insurer as to the foregoing.