Common use of Suspension and Termination of Note Insurer's Rights Clause in Contracts

Suspension and Termination of Note Insurer's Rights. During the continuation of a Note Insurer Default, rights granted or reserved to the Note Insurer hereunder shall vest instead in the Certificateholders; provided that the Note Insurer shall be entitled to any distributions in reimbursement of the Note Insurer Reimbursement Amount, and the Note Insurer shall retain those rights under Section 11.1 to consent to any amendment of this Agreement. At such time as either (i) the Note Principal Balance has been reduced to zero or (ii) the Insurance Policy has been terminated and in either case of (i) or (ii) the Note Insurer has been reimbursed for all Insured Payments and any other amounts owed under the Insurance Policy and the Insurance Agreement (and the Note Insurer no longer has any obligation under the Insurance Policy, except for breach thereof by the Note Insurer), then the rights and benefits granted or reserved to the Note Insurer hereunder (including the rights to direct certain actions and receive certain notices) shall terminate and the Certificateholders shall be entitled to the exercise of such rights and to receive such benefits of the Note Insurer following such termination to the extent that such rights and benefits are applicable to the Certificateholders.

Suspension and Termination of Note Insurer's Rights. During the continuation of a Note Insurer Default, rights granted or reserved to the Note Insurer hereunder shall vest instead in the Certificateholders; provided provided, that the Note Insurer shall be entitled to any distributions in reimbursement of reimbursements to the Note Insurer Reimbursement Amount, insurer as set forth in the Indenture and the Insurance Agreement and the Note Insurer shall retain those rights under Section 11.1 12.01 to consent to any amendment of this Agreement. At such time as either (i) the outstanding Note Principal Balance of the Notes has been reduced to zero or (ii) the Note Insurance Policy has been terminated and in either case of (i) or (ii) the Note Insurer has been reimbursed for all Insured Payments and any other amounts owed under the Note Insurance Policy and the Insurance Agreement (and the Note Insurer no longer has any obligation under the Note Insurance Policy, except for breach thereof by the Note Insurer), then the rights and benefits granted or reserved to the Note Insurer hereunder (including the rights to direct certain actions and receive certain notices) shall terminate and the Certificateholders shall be entitled to the exercise of such rights and to receive such benefits of the Note Insurer following such termination to the extent that such rights and benefits are applicable to the Certificateholders.

Suspension and Termination of Note Insurer's Rights. During the continuation of a Note Insurer Default, rights granted or reserved to the Note Insurer hereunder shall vest instead in the CertificateholdersNoteholders, and may be exercised at the direction of Holders of Notes representing at least 51% of the Note Principal Balance of the Outstanding Notes of all of the Classes; provided provided, that the Note Insurer shall be entitled to any distributions of reimbursements as set forth in reimbursement of the Note Insurer Reimbursement Amount, Indenture and the Insurance Agreement and the Note Insurer shall retain those rights under Section 11.1 12.01 to consent to any amendment of this Agreement. At such time as either (i) the outstanding Note Principal Balance of the Notes has been reduced to zero or (ii) the Note Insurance Policy has been terminated and in either case of (i) or (ii) the Note Insurer has been reimbursed for all Insured Payments and any other amounts owed under the Note Insurance Policy and the Insurance Agreement (and the Note Insurer no longer has any obligation under the Note Insurance Policy, except for breach thereof by the Note Insurer), then the rights and benefits granted or reserved to the Note Insurer hereunder (including the rights to direct certain actions and receive certain notices) shall terminate and the Certificateholders shall be entitled to the exercise of such rights and to receive such benefits of the Note Insurer following such termination to the extent that such rights and benefits are applicable to the Certificateholders.

Suspension and Termination of Note Insurer's Rights. During the continuation of a Note Insurer Default, rights granted or reserved to the Note Insurer hereunder shall vest instead in the Certificateholdersholders of the Notes; provided that the Note Insurer shall be entitled to any distributions in reimbursement of any amounts due and owing the Note Insurer Reimbursement Amountunder the Insurance Agreement, and the Note Insurer shall retain those rights under Section 11.1 12.1 to consent to any amendment of this Agreement. At such time as either (i) the Note Principal Balance of the Notes has been reduced to zero or (ii) the Insurance Policy has been terminated and in either case of (i) or (ii) the Note Insurer has been reimbursed for all Insured Payments and any other amounts owed under the Insurance Policy and the Insurance Agreement (and the Note Insurer no longer has any obligation under the Insurance Policy, except for breach thereof by the Note Insurer), then the rights and benefits granted or reserved to the Note Insurer hereunder (including the rights to direct certain actions and receive certain notices) shall terminate and the Certificateholders shall be entitled to the exercise of such rights and to receive such benefits of the Note Insurer following such termination to the extent that such rights and benefits are applicable to the Certificateholders.

Suspension and Termination of Note Insurer's Rights. During the continuation of a Note Insurer Default, rights granted or reserved to the Note Insurer hereunder shall vest instead in the CertificateholdersNoteholders, and may be exercised at the direction of Holders of Notes representing at least 51% of the Note Principal Balance of the Outstanding Notes of both Classes; provided provided, that the Note Insurer shall be entitled to any distributions of reimbursements as set forth in reimbursement of the Note Insurer Reimbursement Amount, Indenture and the Insurance Agreement and the Note Insurer shall retain those rights under Section 11.1 9.01 to consent to any amendment of this Agreement. At such time as either (i) the outstanding Note Principal Balance of the Notes has been reduced to zero or (ii) the Note Insurance Policy has been terminated and in either case of (i) or (ii) the Note Insurer has been reimbursed for all Insured Payments and any other amounts owed to it under the Note Insurance Policy and the Insurance Agreement (and the Note Insurer no longer has any obligation under the Note Insurance Policy, except for breach thereof by the Note Insurer), then the rights and benefits granted or reserved to the Note Insurer hereunder (including the rights to direct certain actions and receive certain notices) shall terminate and the Certificateholders shall be entitled to the exercise of such rights and to receive such benefits of the Note Insurer following such termination to the extent that such rights and benefits are applicable to the Certificateholders.

Suspension and Termination of Note Insurer's Rights. During the continuation of a Note Insurer Default, rights granted or reserved to the Note Insurer hereunder shall vest instead in the CertificateholdersNoteholders, and may be exercised at the direction of Holders of Notes representing at least 51% of the Note Principal Balance of the Outstanding Notes of all of the Classes; provided provided, that the Note Insurer shall be entitled to any distributions of reimbursements as set forth in reimbursement of the Note Insurer Reimbursement Amount, Indenture and the Insurance Agreement and the Note Insurer shall retain those rights under Section 11.1 9.01 to consent to any amendment of this Agreement. At such time as either (i) the outstanding Note Principal Balance of the Notes has been reduced to zero or (ii) the Note Insurance Policy has been terminated and in either case of (i) or (ii) the Note Insurer has been reimbursed for all Insured Payments and any other amounts owed to it under the Note Insurance Policy and the Insurance Agreement (and the Note Insurer no longer has any obligation under the Note Insurance Policy, except for breach thereof by the Note Insurer), then the rights and benefits granted or reserved to the Note Insurer hereunder (including the rights to direct certain actions and receive certain notices) shall terminate and the Certificateholders shall be entitled to the exercise of such rights and to receive such benefits of the Note Insurer following such termination to the extent that such rights and benefits are applicable to the Certificateholders.

Suspension and Termination of Note Insurer's Rights. During the continuation of a Note Insurer Default, rights granted or reserved to the Note Insurer hereunder shall vest instead in the Certificateholders; provided that the Note Insurer shall be entitled to any distributions of reimbursements as set forth in reimbursement of the Note Insurer Reimbursement Amount, Insurance Agreement and the Note Insurer shall retain those rights under Section 11.1 to consent to any amendment of this Agreement. At such time as either (i) the Note Principal Balance of the Notes has been reduced to zero or (ii) the Insurance Policy has been terminated and in either case of (i) or (ii) the Note Insurer has been reimbursed for all Insured Payments and any other amounts owed under the Insurance Policy and the Insurance Agreement (and the Note Insurer no longer has any obligation under the Insurance Policy, except for breach thereof by the Note Insurer), then the rights and benefits granted or reserved to the Note Insurer hereunder (including the rights to direct certain actions and receive certain notices) shall terminate and the Certificateholders shall be entitled to the exercise of such rights and to receive such benefits of the Note Insurer following such termination to the extent that such rights and benefits are applicable to the Certificateholders.

Suspension and Termination of Note Insurer's Rights. During the continuation of a Note Insurer Default, rights granted or reserved to the Note Insurer hereunder shall vest instead in the Certificateholders; provided provided, that the Note Insurer shall be entitled to any distributions of reimbursements as set forth in reimbursement of the Note Insurer Reimbursement Amount, Indenture and the Insurance Agreement and the Note Insurer shall retain those rights under Section 11.1 12.01 to consent to any amendment of this Agreement. At such time as either (i) the outstanding Note Principal Balance of the Notes has been reduced to zero or (ii) the Note Insurance Policy has been terminated and in either case of (i) or (ii) the Note Insurer has been reimbursed for all Insured Payments and any other amounts owed under the Note Insurance Policy and the Insurance Agreement (and the Note Insurer no longer has any obligation under the Note Insurance Policy, except for breach thereof by the Note Insurer), then . Then the rights and benefits granted or reserved to the Note Insurer hereunder (including the rights to direct certain actions and receive certain notices) shall terminate and the Certificateholders shall be entitled to the exercise of such rights and to receive such benefits of the Note Insurer following such termination to the extent that such rights and benefits are applicable to the Certificateholders.

Suspension and Termination of Note Insurer's Rights. During the continuation of a Note Insurer Default, rights granted or reserved to the Note Insurer hereunder shall vest instead in the CertificateholdersOwners; provided that the Note Insurer shall be entitled to any distributions in reimbursement of the Note Insurer Reimbursement Amount, and the Note Insurer shall retain those rights under Section 11.1 11.01 to consent to any amendment of this Agreement. At such time as either (i) the Note Class Principal Balance Amount of the Notes has been reduced to zero or (ii) the Insurance Policy has been terminated and in either case of (i) or (ii) the Note Insurer has been reimbursed for all Insured Payments and any other amounts owed under the Insurance Policy and the Insurance Agreement (and the Note Insurer no longer has any obligation under the Insurance Policy, except for breach thereof by the Note Insurer), then the rights and benefits granted or reserved to the Note Insurer hereunder (including the rights to direct certain actions and receive certain notices) shall terminate and the Certificateholders shall be entitled to the exercise of such rights and to receive such benefits of the Note Insurer following such termination to the extent that such rights and benefits are applicable to the Certificateholders.]

Suspension and Termination of Note Insurer's Rights. During the continuation of a Note Insurer Default, rights granted or reserved to the Note Insurer hereunder shall vest instead in the Certificateholders; provided that the Note Insurer shall be entitled to any distributions in reimbursement of the Note Insurer Reimbursement Amount, and the Note Insurer shall retain those rights under Section 11.1 to consent to any amendment of this Agreement. At such time as either (i) both the Adjustable Rate Note Principal Balance has and the Fixed Rate Note Principal Balance have been reduced to zero or and (ii) the Note Insurance Policy has Policies have been terminated and in either case of (i) or (ii) the Note Insurer has been reimbursed for all Insured Payments and any other amounts owed under the Note Insurance Policy Policies and the Insurance Agreement (and the Note Insurer no longer has any obligation under the Note Insurance PolicyPolicies, except for breach thereof by the Note Insurer), then the rights and benefits granted or reserved to the Note Insurer hereunder (including the rights to direct certain actions and receive certain notices) shall terminate and the Certificateholders shall be entitled to the exercise of such rights and to receive such benefits of the Note Insurer following such termination to the extent that such rights and benefits are applicable to the Certificateholders.

Suspension and Termination of Note Insurer's Rights. During the continuation of a Note Insurer Default, rights granted or reserved to the Note Insurer hereunder shall vest instead in the Certificateholders; provided provided, that the Note Insurer shall be entitled to any distributions of reimbursements as set forth in reimbursement of the Note Insurer Reimbursement Amount, Insurance Agreement and the Note Insurer shall retain those rights under Section 11.1 11.01 to consent to any amendment of this Agreement. At such time as either (i) the outstanding Note Principal Balance of the Notes has been reduced to zero or (ii) the Insurance Policy has been terminated and in either case of (i) or (ii) the Note Insurer has been reimbursed for all Insured Payments and any other amounts owed under the Insurance Policy and the Insurance Agreement (and the Note Insurer no longer has any obligation under the Insurance Policy, except for breach thereof by the Note Insurer), then the rights and benefits granted or reserved to the Note Insurer hereunder (including the rights to direct certain actions and receive certain notices) shall terminate and the Certificateholders shall be entitled to the exercise of such rights and to receive such benefits of the Note Insurer following such termination to the extent that such rights and benefits are applicable to the Certificateholders.

Suspension and Termination of Note Insurer's Rights. During the continuation of a Note Insurer Default, rights granted or reserved to the Note Insurer hereunder shall vest instead in the Certificateholders; provided PROVIDED, that the Note Insurer shall be entitled to any distributions of reimbursements as set forth in reimbursement of the Note Insurer Reimbursement Amount, Indenture and the Insurance Agreement and the Note Insurer shall retain those rights under Section 11.1 12.01 to consent to any amendment of this Agreement. At such time as either (i) the outstanding Note Principal Balance of the Notes has been reduced to zero or (ii) the Note Insurance Policy has been terminated and in either case of (i) or (ii) the Note Insurer has been reimbursed for all Insured Payments and any other amounts owed under the Note Insurance Policy and the Insurance Agreement (and the Note Insurer no longer has any obligation under the Note Insurance Policy, except for breach thereof by the Note Insurer), then the rights and benefits granted or reserved to the Note Insurer hereunder (including the rights to direct certain actions and receive certain notices) shall terminate and the Certificateholders shall be entitled to the exercise of such rights and to receive such benefits of the Note Insurer following such termination to the extent that such rights and benefits are applicable to the Certificateholders.

Suspension and Termination of Note Insurer's Rights. During the continuation of a Note Insurer Default, rights granted or reserved to the Note Insurer hereunder shall vest instead in the Certificateholders; provided provided, that the Note Insurer shall be entitled to any distributions of reimbursements as set forth in reimbursement of the Note Insurer Reimbursement Amount, Insurance Agreement and the Note Insurer shall retain those rights under Section 11.1 11.01 to consent to any amendment of this Agreement. At such time as either (i) the outstanding Note Principal Balance of the Notes has been reduced to zero or (ii) the Note Insurance Policy has been terminated and in either case of (i) or (ii) the Note Insurer has been reimbursed for all Insured Payments and any other amounts owed under the Note Insurance Policy and the Insurance Agreement (and the Note Insurer no longer has any obligation under the Note Insurance Policy, except for breach thereof by the Note Insurer), then the rights and benefits granted or reserved to the Note Insurer hereunder (including the rights to direct certain actions and receive certain notices) shall terminate and the Certificateholders shall be entitled to the exercise of such rights and to receive such benefits of the Note Insurer following such termination to the extent that such rights and benefits are applicable to the Certificateholders.

Suspension and Termination of Note Insurer's Rights. During the continuation of a Note Insurer Default, rights granted or reserved to the Note Insurer hereunder shall vest instead in the Certificateholders; provided PROVIDED, that the Note Insurer shall be entitled to any distributions of reimbursements as set forth in reimbursement of the Note Insurer Reimbursement Amount, Indenture and the Insurance Agreement and the Note Insurer shall retain those rights under Section 11.1 12.01 to consent to any amendment of this Agreement. At such time as either (i) the outstanding Note Principal Balance of the Notes has been reduced to zero or (ii) the Note Insurance Policy has been terminated and in either case of (i) or (ii) the Note Insurer has been reimbursed for all Insured Payments and any other amounts owed under the Note Insurance Policy and the Insurance Agreement (and the Note Insurer no longer has any obligation under the Note Insurance Policy, except for breach thereof by the Note Insurer), then . Then the rights and benefits granted or reserved to the Note Insurer hereunder (including the rights to direct certain actions and receive certain notices) shall terminate and the Certificateholders shall be entitled to the exercise of such rights and to receive such benefits of the Note Insurer following such termination to the extent that such rights and benefits are applicable to the Certificateholders.

Suspension and Termination of Note Insurer's Rights. During the continuation of a Note Insurer Default, rights granted or reserved to the Note Insurer hereunder shall vest instead in the Certificateholders; provided PROVIDED, that the Note Insurer shall be entitled to any distributions of reimbursements as set forth in reimbursement of the Note Insurer Reimbursement Amount, Indenture and the Insurance Agreement and the Note Insurer shall retain those rights under Section 11.1 12.01 to consent to any amendment of this Agreement. At such time as either (i) the outstanding Note Principal Balance of the Notes has been reduced to zero or (ii) the Note Insurance Policy has been terminated and in either case of (i) or (ii) the Note Insurer has been reimbursed for all Insured Payments and any other amounts owed under the Note Insurance Policy and the Insurance Agreement (and the Note Insurer no longer has any obligation under the Note Insurance Policy, except for breach thereof by the Note Insurer), then . Then the rights and benefits granted or reserved to the Note Insurer hereunder (including the rights to direct certain actions and receive certain notices) shall terminate and the Certificateholders shall be entitled to the exercise of such rights and to receive such benefits of the Note Insurer following such termination to the extent that such rights and benefits are applicable to the Certificateholders.

Suspension and Termination of Note Insurer's Rights. During the continuation of a Note Insurer Default, rights granted or reserved to the Note Insurer hereunder shall vest instead in the Certificateholders; provided that the Note Insurer shall be entitled to any distributions in reimbursement of the Note Insurer Reimbursement Amount, and the Note Insurer shall retain those rights under Section 11.1 to consent to any amendment of this Agreement. At such time as either (i) both the Pool I Note Principal Balance has and the Pool II Note Principal Balance have been reduced to zero or and (ii) the Note Insurance Policy has been terminated and in either case of (i) or (ii) the Note Insurer has been reimbursed for all Insured Payments and any other amounts owed under the Note Insurance Policy and the Insurance Agreement (and the Note Insurer no longer has any obligation under the Note Insurance Policy, except for breach thereof by the Note Insurer), then the rights and benefits granted or reserved to the Note Insurer hereunder (including the rights to direct certain actions and receive certain notices) shall terminate and the Certificateholders shall be entitled to the exercise of such rights and to receive such benefits of the Note Insurer following such termination to the extent that such rights and benefits are applicable to the Certificateholders.