The Certificate Insurer. Any right conferred to the Certificate Insurer hereunder shall be suspended and shall run to the benefit of the Owners during any period in which the Certificate Insurer is in default in its payment obligations under the Certificate Insurance Policy. At such time as the Class A Certificates are no longer Outstanding hereunder and all Reimbursement Amounts due the Certificate Insurer have been paid in full, the Certificate Insurer's rights hereunder shall terminate.
Appears in 7 contracts
Samples: Pooling and Servicing Agreement (Block Mortgage Finance Inc Asset Backed Cert Series 1998 2), Pooling and Servicing Agreement (Morgan Stanley Abs Capital I Inc), Pooling and Servicing Agreement (Block Mortgage Finance Inc)
The Certificate Insurer. Any right conferred to the Certificate Insurer hereunder shall be suspended and shall run to the benefit of the Owners during any period in which the Certificate Insurer is in default in its payment obligations under the Certificate Insurance PolicyPolicies. At such time as the Class A Certificates and any Reimbursement Amounts are no longer Outstanding hereunder and all Reimbursement Amounts due the Certificate Insurer have been paid in fullhereunder, the Certificate Insurer's rights hereunder shall terminate.
Appears in 6 contracts
Samples: Pooling and Servicing Agreement (Contisecurities Asset Funding Corp), Pooling and Servicing Agreement (Contisecurities Asset Funding Corp), Pooling and Servicing Agreement (Contisecurities Asset Funding Corp)
The Certificate Insurer. Any right conferred to the Certificate Insurer hereunder shall be suspended and shall run to the benefit of the Owners during any period in which the Certificate Insurer is in default in its payment obligations under the Certificate Insurance Policy. At such time as the Class A Certificates and any Reimbursement Amounts are no longer Outstanding hereunder and all Reimbursement Amounts due the Certificate Insurer have been paid in fullhereunder, the Certificate Insurer's rights hereunder shall terminate.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Contimortgage Home Equity Loan Trust 1996-4), Pooling and Servicing Agreement (Contisecurities Asset Funding Corp), Pooling and Servicing Agreement (Contimortgage Home Equity Trust 1998-1)
The Certificate Insurer. Any right conferred to the Certificate Insurer hereunder shall be suspended and shall run to the benefit of the Owners during any period in which the Certificate Insurer is in default in its payment obligations under the Certificate Insurance Policy. At such time as the Class A Certificates and any Reimbursement Amounts are no longer Outstanding hereunder and all Reimbursement Amounts due the Certificate Insurer have been paid in fullhereunder, the Certificate Insurer's rights hereunder shall terminate.
Appears in 2 contracts
Samples: Grantor Trust Agreement (Contimortgage Home Equity Trust 1997-5), Grantor Trust Agreement (Contisecurities Asset Funding Corp)
The Certificate Insurer. Any right conferred to the Certificate Insurer hereunder shall be suspended and shall run to the benefit of the Owners during any period in which the Certificate Insurer is in default in its payment obligations under the Certificate Insurance Policy. At such time as the Class A Trust Certificates and any Reimbursement Amounts are no longer Outstanding hereunder and all Reimbursement Amounts due the Certificate Insurer have been paid in fullhereunder, the Certificate Insurer's rights hereunder shall terminate.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Contimortgage Home Equity Trust 1997-5), Pooling and Servicing Agreement (Contisecurities Asset Funding Corp)
The Certificate Insurer. Any right conferred to the Certificate Insurer hereunder shall be suspended and shall run to the benefit of the Owners during any period in which the Certificate Insurer is in default in its payment obligations under the Certificate Insurance Policy. At such time as the Class A Certificates are no longer Outstanding hereunder and all Reimbursement Amounts due the Certificate Insurer have been paid in fullhereunder, the Certificate Insurer's rights hereunder shall terminate.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Block Mortgage Finance Inc)
The Certificate Insurer. Any right conferred to the Certificate Insurer hereunder shall be suspended and shall run to the benefit of the Owners during any period in which the occurrence and continuance of a Certificate Insurer is in default in its payment obligations under the Certificate Insurance PolicyDefault. At such time as the Class A Certificates, the Class S Certificates and all Reimbursement Amounts are no longer Outstanding hereunder and all Reimbursement Amounts due the Certificate Insurer have been paid in fullhereunder, the Certificate Insurer's rights hereunder shall terminate.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Armesco Residential Sec Corp Mort Loan Tr 1996-5)
