Termination of Certain of Certificate Insurer’s Rights. Notwithstanding anything to the contrary anywhere in this Agreement, all rights of the Group I Certificate Insurer, except in the case of any right to indemnification hereunder, shall permanently cease to be operable upon the latest to occur of (A) the date upon which the Certificate Principal Balance of each Insured Certificate has been reduced to zero, the Group I Certificate Insurance Policy has been returned to the Group I Certificate Insurer and all payments of Guaranteed Distributions (as defined in the Group I Certificate Insurance Policy) have been made, (B) the date the Term of This Policy (as defined in the Group I Certificate Insurance Policy) ends and (C) the payment in full to the Group I Certificate Insurer of all amounts paid under the Group I Certificate Insurance Policy plus interest at the Late Payment Rate thereon from the date such payment was made, and any other amounts owing to the Group I Certificate Insurer under this Agreement.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2007-1), Pooling and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2007-1), Pooling and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2007-1)
