STATEMENT OF INSURANCE. The Certificate Insurer has issued the Certificate Insurance Policy containing the following provisions, such Certificate Insurance Policy being on file at the offices of the Trustee at 000 Xxxx 0xx Xxxxxx, Xx. Xxxx, Minnesota 55101. The Certificate Insurer, in consideration of the payment of the premium and subject to the terms of the Certificate Guaranty Insurance Policy (the "Certificate Insurance Policy"), thereby unconditionally and irrevocably guarantees to any Owner (as defined below) that an amount equal to each full and complete Insured Payment will be received by U.S. Bank National Association, or its successors, as trustee for the Owners (the "Trustee"), on behalf of the Owners from the Certificate Insurer, for distribution by the Trustee to each Owner of each Owner's proportionate share of the Insured Payment. The Certificate Insurer's obligations under the Certificate Insurance Policy with respect to a particular Insured Payment shall be discharged to the extent funds equal to the applicable Insured Payment are received by the Trustee, whether or not such funds are properly applied by the Trustee. Insured Payments shall be made only at the time set forth in the Certificate Insurance Policy and no accelerated Insured Payments shall be made regardless of any acceleration of the Class A Certificates, unless such acceleration is at the sole option of the Certificate Insurer. Notwithstanding the foregoing paragraph, the Certificate Insurance Policy does not cover shortfalls, if any, attributable to the liability of the Trust or the Trustee for withholding taxes, if any (including interest and penalties in respect of any such liability). The Certificate Insurer will pay any Insured Payment that is a Preference Amount on the Business Day following receipt on a Business Day by the Fiscal Agent (as described below) of (i) a certified copy of the order requiring the return of a preference payment, (ii) an opinion of counsel satisfactory to the Certificate Insurer that such order is final and not subject to appeal, (iii) an assignment in such form as is reasonably required by the Certificate Insurer, irrevocably assigning to the Certificate Insurer all rights and claims of the Owner relating to or arising under the Class A Certificates against the debtor which made such preference payment or otherwise with respect to such preference payment and (iv) appropriate instruments to effect the appointment of the Certificate Insurer as agent for such Owner in an...
STATEMENT OF INSURANCE. A statement of insurance on a conditional sales contract is a document that outlines the insurance requirements for a vehicle that is being sold on credit. This statement of insurance typically includes information such as the type of insurance required, the amount of coverage needed, and the name of the insurance company. It is important to include a statement of insurance on a conditional sales contract because it helps protect both the buyer and the dealership in the event of an accident or other incident involving the vehicle. Specifically, it helps ensure that the vehicle is adequately insured so that any damages or losses can be covered by the insurance company, rather than being the responsibility of the buyer or the dealership. In many cases, the dealership will require the buyer to provide proof of insurance before they can take possession of the vehicle. This helps ensure that the buyer is complying with the insurance requirements outlined in the contract and that the vehicle is adequately protected. Ultimately, a statement of insurance on a conditional sales contract is an important part of the overall agreement between the buyer and the dealership. By clearly outlining the insurance requirements for the vehicle, it helps ensure that both parties are protected and that there are no misunderstandings or disputes down the line.
STATEMENT OF INSURANCE. The Certificate Insurer has issued the Certificate Insurance Policy containing the following provisions, such Certificate Insurance Policy being on file at the offices of the Trustee at 000 Xxxx 0xx Xxxxxx, Xx. Xxxx, Minnesota 55101. The Certificate Insurer, in consideration of the payment of the premium and subject to the terms of the Certificate Guaranty Insurance Policy (the "Certificate Insurance Policy"), thereby unconditionally and irrevocably guarantees to any Owner that an amount equal to each full and complete Insured Payment will be received by First Bank National Association, or its successor, as trustee for the Owners (the "Trustee"), on behalf of the Owners from the Certificate Insurer, for distribution by the Trustee to each Owner of each Owner's proportionate share of the Insured Payment. The Certificate Insurer's obligations under the Certificate Insurance Policy with respect to a particular Insured Payment shall be discharged to the extent funds equal to the applicable Insured Payment are received by the Trustee, whether or not such funds are properly applied by the Trustee. Insured Payments shall be made only at the time set forth in the Certificate Insurance Policy and no accelerated Insured Payments shall be made regardless of any acceleration of the Certificates, unless such acceleration is at the sole option of the Certificate Insurer. Notwithstanding the foregoing paragraph, the Certificate Insurance Policy does not cover shortfalls, if any, attributable to the liability of the Trust or the Trustee for withholding taxes, if any (including interest and penalties in respect of any such liability). The Certificate Insurer will pay any Insured Payment that is a Preference Amount on the Business Day following receipt on a Business Day by the Fiscal Agent (as described below) of (i) a certified copy of the order requiring the return of a preference payment, (ii) an opinion of counsel satisfactory to the Certificate Insurer that such order is final and not subject to appeal, (iii) an assignment in such form as is reasonably required by the Certificate Insurer, irrevocably assigning to the Certificate Insurer all rights and claims of the Owner relating to or arising under the Certificates against the debtor which made such preference payment or otherwise with respect to such preference payment and (iv) appropriate instruments to effect the appointment of the Certificate Insurer as agent for such Owner in any legal proceeding related to such ...
STATEMENT OF INSURANCE. Build America Mutual Assurance Company (“BAM”), New York, New York, has delivered its municipal bond insurance policy (the “Policy”) with respect to the scheduled payments due of principal of and interest on this Bond to U.S. Bank Trust Company, National Association, Phoenix, Arizona, or its successor, as trustee for the Bonds (the “Trustee”). Said Policy is on file and available for inspection at the principal office of the Trustee and a copy thereof may be obtained from BAM or the Trustee. All payments required to be made under the Policy shall be made in accordance with the provisions thereof. By its purchase of these Bonds, the owner acknowledges and consents (i) to the subrogation and all other rights of BAM as more fully set forth in the Policy, and (ii) that upon the occurrence and continuance of a default or an event of default under the Indenture or this Bond, BAM shall be deemed to be the sole owner of the Bonds for all purposes and shall be entitled to control and direct the enforcement of all rights and remedies granted to the owners of the Bonds or the trustee, paying agent, registrar or similar agent for the benefit of such owners under the Indenture, at law or in equity.
STATEMENT OF INSURANCE. Financial Guaranty Insurance Company ("
STATEMENT OF INSURANCE. MBIA Insurance Corporation (the "Insurer") has issued a policy containing the following provisions, such policy being on file at PNC Bank, National Association, East Brunswick, New Jersey.
STATEMENT OF INSURANCE. The Insurer has issued a financial guarantee insurance policy (the "Policy") containing the following provisions, such policy being on file at Citibank, N.A., New York, New York:
STATEMENT OF INSURANCE. The Insurer has issued a financial guaranty insurance policy (the "Policy") containing the following provisions, such policy being on file at Citibank, N.A. in New York, New York:
STATEMENT OF INSURANCE. The MBIA Insurance Corporation (the "Insurer") has issued a financial guaranty insurance policy (the "Policy") containing the following provisions, such Policy being on file at State Street Bank and Trust Company. The Insurer, in consideration of the payment of the premium and subject to the terms of the Policy, hereby unconditionally and irrevocably guarantees to any owner, as hereinafter defined, of the following described obligations, the full and complete payment required to be made by or on behalf of the Company to State Street Bank and Trust Company or its successor (the "Paying Agent") of an amount equal to (i) the principal of (at the stated maturity) and
STATEMENT OF INSURANCE. The MBIA Insurance Corporation (the "Insurer") has issued a policy containing the following provisions, such policy being on file at The Fifth Third Bank, Cincinnati, Ohio.
