STATEMENT OF INSURANCE. The MBIA Insurance Corporation (the "Insurer") has issued a policy containing the following provisions, such policy being on file at Bankers Trust Company in New York, New York: OBLIGATIONS: $550,000,000 KeyCorp Student Loan Trust 2000-A, Floating Rate, Asset-Backed Notes, Class A-1 and Class A-2 The Insurer, in consideration of the payment of the premium and subject to the terms of this Note Guaranty Insurance Policy (this "Policy"), hereby unconditionally and irrevocably guarantees to any Owner that an amount equal to each full and complete Insured Payment will be received from the Insurer by Bankers Trust Company, or its successors, as trustee for the Owners (the "Trustee"), on behalf of the Owners, for distribution by the Trustee to each Owner of each Owner's proportionate share of the Insured Payment. The Insurer's obligations hereunder 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 this Policy, and no accelerated Insured Payments shall be made regardless of any acceleration of the Obligations, unless such acceleration is at the sole option of the Insurer. Notwithstanding the foregoing paragraph, this Policy does not cover shortfalls, if any, attributable to the liability of the Issuer, the Trust or the Trustee for withholding taxes, if any (including interest and penalties in respect of any such liability). This Policy does not cover, and Insured Payments shall not include, any Noteholders' Interest Index Carryover. The 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 (a) a certified copy of the order requiring the return of a preference payment, (b) an opinion of counsel satisfactory to the Insurer that such order is final and not subject to appeal, (c) an assignment in such form as is reasonably required by the Insurer, irrevocably assigning to the Insurer all rights and claims of the Owner relating to or arising under the Obligations against the debtor which made such preference payment or otherwise with respect to such preference payment and (d) appropriate instruments to effect the appointment of the Insurer as agent for such Owner in any legal proceeding related to such preference payment, such instrumen...
STATEMENT OF INSURANCE. The Bond Insurer has issued the Bond Insurance Policy containing the following provisions with respect to the Bonds, such policy being on file at the principal office of the Trustee, as paying agent: The Bond Insurer hereby unconditionally and irrevocably agrees to pay for disbursement to the Bondholders that portion of the principal and interest on the Bonds which is then due for payment and which the Authority shall have failed to provide. Due for payment means, with respect to principal, the Maturity Date and does not refer to any earlier date on which the payment of principal of the Bonds is due by reason of call for redemption, acceleration or other advancement of maturity, and with respect to interest, the stated date for payment of such interest. Upon receipt of telephonic or telegraphic notice, subsequently confirmed in writing, or written notice by registered or certified mail, from a Bondholder or the Trustee to the Bond Insurer that the required payment of principal or interest (as applicable) has not been made by the Authority to the Trustee, the Bond Insurer on the due date of such payment or within one business day after receipt of notice of such nonpayment, whichever is later, will make a deposit of funds, in an account with Fiscal Agent, sufficient to make the portion of such payment not paid by the Authority. Upon presentation to the Fiscal Agent of evidence satisfactory to it of the Bondholder’s right to receive such payment and any appropriate instruments of assignment required to vest all of such Bondholder’s right to such payment in the Bond Insurer, the Fiscal Agent will disburse such amount to the Bondholder. As used herein the term “Bondholder” means the person other than the Authority or the Company who at the time of nonpayment of a Bond is entitled under the terms of such Bond to payment thereof. The Bond Insurance Policy is non-cancellable for any reason. Financial Guaranty Insurance Company The following abbreviations, when used in the inscription on the face of the within Bond, shall be construed as though they were written out in full according to applicable laws or regulations: TEN COM — as tenants in common UNIF GIFT MIN ACT TEN ENT — as tenants by the entireties Custodian JT TEN — as joint tenants with right of survivorship and not as tenants in common (Cust) (Minor) under Uniform Gifts to Minors Act ______________________________ (State) Additional abbreviations may also be used though not in list above.
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. 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 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.
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. Financial Guaranty Insurance Company ("
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:
