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 there exists a Certificate Insurer Default; provided, that the right of the Certificate Insurer to receive the Premium Amount shall not be suspended if such Certificate Insurer Default was a default other than a default under clause (a) of the definition thereof. At such time as the Class A Certificates are no longer Outstanding hereunder and the Certificate Insurer has received all Reimbursement Amounts, the Certificate Insurer's rights hereunder shall terminate.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Imc Home Equity Loan Trust 1997-1), Pooling and Servicing Agreement (Imc Home Equity Loan Trust 1998-3), Pooling and Servicing Agreement (DLJ Mortgage Acceptance 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 there exists a Certificate Insurer Default; provided, that the right of the Certificate Insurer to receive the Premium Amount shall not be suspended if such Certificate Insurer Default was a default other than a default under clause (a) of the definition thereof. At such time as the Class A Certificates and the Class S Certificates are no longer Outstanding hereunder and the Certificate Insurer has received all Reimbursement Amounts, the Certificate Insurer's rights hereunder shall terminate.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Imc Home Equity Loan Trust 1996-4)
