Ambac Assurance Corporation definition

Ambac Assurance Corporation. (the "Bond Insurer"), in consideration of the payment of the premium and subject to the terms of the bond insurance policy (the "Bond Insurance Policy") issued thereby, has unconditionally and irrevocably guaranteed the payment of the Insured Amount with respect to the Class A-1 Bonds with respect to each Payment Date. Such Bond Insurance Policy will not cover any Prepayment Interest Shortfalls, Relief Act Shortfalls or ARM Basis Risk Shortfall Carry-Forward Amount. Payments of principal and interest on this Bond will be made on each Payment Date to the Bondholder of record as of the related Record Date. On each Payment Date, Bondholders will be entitled to receive interest payments in an aggregate amount equal to the aggregate Accrued Bond Interest for such Payment Date, together with principal payments in an aggregate amount equal to the ARM Pool Principal Payment Amount, if any, for such Payment Date. The "Bond Principal Balance" of a Bond as of any date of determination is equal to the initial Bond Principal Balance thereof, reduced by the aggregate of all amounts previously paid with respect to such Bond on account of principal and the aggregate amount of cumulative Realized Losses allocated to such Bond on all prior Payment Dates. The principal of, and interest on, this Bond are due and payable as described in the Indenture, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. All payments made by the Issuer with respect to this Bond shall be equal to this Bond's pro rata share of the aggregate payments on all Bonds as described above, and shall be applied as between interest and principal as provided in the Indenture. All principal and interest accrued on the Bonds, if not previously paid, will become finally due and payable at the Final Scheduled Payment Date. The Bonds are subject to redemption in whole, but not in part, by the Issuer on any Payment Date on or after the earlier of (i) the Payment Date on which the aggregate Principal Balance of the Mortgage Loans is less than or equal to 25% of the aggregate Principal Balance of the Mortgage Loans as of the Cut-off Date and (ii) the Payment Date in March 2006. The Issuer shall not be liable upon the indebtedness evidenced by the Bonds except to the extent of amounts available from the Trust Estate which constitutes security for the payment of the Bonds. The assets included in the Trust Estate and payments under ...
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Ambac Assurance Corporation. (the "Insurer") has issued and delivered the certificate guaranty insurance policy, dated as of the Closing Date (the "Policy"), pursuant to which the Insurer guarantees the Insured Amount with respect to the Notes. The Trust and the Insurer have executed and delivered the Insurance and Indemnity Agreement, dated as of April 27, 2000 (as amended from time to time, the "Insurance Agreement"), among the Insurer, Advanta Mortgage Corp. USA, the Trust, Advanta Conduit Receivables, Inc. and the Indenture Trustee.
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Ambac Assurance Corporation. (the "Insurer") has issued and delivered a financial guaranty insurance policy for both Classes of Securities, dated the Closing Date (the "Policy"), pursuant to which the Insurer guarantees the Insured Payments (as defined below). As an inducement to the Insurer to issue and deliver the Policy, the Issuer and the Insurer have executed and delivered the Insurance and Indemnity Agreement, dated as of June 29, 2000 (as amended from time to time, the "Insurance Agreement"), among the Insurer, the Issuer, GreenPoint Mortgage Funding, Inc., GreenPoint Mortgage Securities Inc. and the Trustee. As an additional inducement to the Insurer to issue the Policy and Xxxxxxx Mac to issue the Guarantee, and as security for the performance by the Issuer of the Insurer Issuer Secured Obligations and as security for the performance by the Issuer of the Trustee Issuer Secured Obligations, the Issuer has agreed to grant and assign the Collateral (as defined below) to the Trustee for the benefit of the Issuer Secured Parties, as their respective interests may appear. Xxxxxxx Mac has guaranteed the payment of Insured Payments on the Class A-1 Certificates to the extent not otherwise paid by the Insurer (the "Guarantee") pursuant to Section 8.4 of this Pooling Agreement.
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Examples of Ambac Assurance Corporation in a sentence

  • This Note is entitled to the benefits of an irrevocable and unconditional financial guaranty insurance policy issued by Ambac Assurance Corporation.

  • Ambac Assurance Corporation has caused this endorsement to the Policy to be signed by its duly authorized officers.

  • The Board of Directors Ambac Assurance Corporation: We consent to the incorporation by reference in the registration statement (No. 333-57357) of Structured Products Corp.

  • On June 26, 2013, the City team met with business people, lawyers and financial advisors from NPFGC in a two-hour meeting and Ambac Assurance Corporation in a 90-minute meeting.

  • Ambac Assurance Corporation has caused this Endorsement to the Policy to be signed by its duly authorized officers.

  • Ambac Assurance Corporation, or any successors in interest thereto, as issuer of the Certificate Insurance Policy.

  • Interest is payable monthly based on the current one-month London Interbank Offered Rate (“LIBOR”) plus a spread of 0.67%, which includes an amount payable to Ambac Assurance Corporation, the provider of a financial guaranty insurance policy (the “Policy Provider”) that supports payment of interest and in certain circumstances, principal on the Notes.

  • The Issuer undertakes to pursue all of its payment rights under each of the Secured Note dated as of March 24, 2010, from Ambac Assurance Corporation to the Issuer and the Cooperation Agreement, dated as of March 24, 2010, by and between Ambac Assurance Corporation and the Issuer against Ambac Assurance Corporation for any amounts due to the Fiscal Agent pursuant to this Agreement.

  • The Segregated Account of Ambac Assurance Corporation, established pursuant to the Plan of Operation in accordance with Wis.

  • Assured Guaranty Municipal Corp.* AMBAC - Ambac Assurance Corporation* BAM - Build America Mutual Assurance Company* CAB - Capital Appreciation Bond COP - Certificate of Participation FHA - Federal Housing Authority* NRE - National Public Finance Guarantee Corporation* PSF - Texas Permanent School Fund* * Indicates an obligation of credit support, in whole or in part.


More Definitions of Ambac Assurance Corporation

Ambac Assurance Corporation. (the "Note Insurer") has issued and delivered the financial guaranty insurance policy (the "Policy") pursuant to which the Note Insurer guarantees the Insured Amount with respect to the Notes. The Note Insurer has executed and delivered the Insurance and Indemnity Agreement, dated as of November 17, 1999 (as amended from time to time, the "Insurance Agreement"), among the Note Insurer, Advanta Holding Trust 1999-4, Advanta Mortgage Corp. USA, as master servicer (the "Master Servicer"), the Trust, Advanta Conduit Receivables, Inc., as sponsor (the "Sponsor"), and the Indenture Trustee.
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Ambac Assurance Corporation. (the "Borrower"), various banks (the "Banks"), Bank of America, N.A. and Deutsche Bank AG, New York Branch, (the "Co-Syndication Agents") and The Bank of New York (the "Administrative Agent"). In accordance with Section 3.02 of the Agreement, the Borrower hereby gives notice of termination of i) $400 million of Unutilized Commitments pro-rata among the Banks and between the Municipal Tranche Commitment and the Structured Tranche Commitment, ii) $86 million of Unutilized Contingent Commitments from Swiss Re Financial Products Corporation, iii) $10 million of Unutilized Contingent Commitments from Bayerische Landesbank Girozentrale, and iv) $33 million of Unutilized Contingent Commitments from Cooperative Centrale Raiffeisen Boerenleenbank B.A., "Rabobank Nederland", New York Branch. The termination of the Unutilized Commitments and Unutilized Contingent Commitments should be effective as of December 21, 2001. Please sign below and fax to me at 000.000.0000 to confirm your receipt of this Notice. Sincerely, Xxxxxx X. Xxxxx RECEIVED: The Bank of New York as Administrative Agent By _________________________ Title:
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Ambac Assurance Corporation. (the "Insurer") has issued and delivered a financial guaranty insurance policy for both Classes of Notes, dated the Closing Date (the "Policy"), pursuant to which the Insurer guarantees the Insured Payments (as defined below). As an inducement to the Insurer to issue and deliver the Policy, the Issuer and the Insurer have executed and delivered the Insurance and Indemnity Agreement, dated as of December 22, 1999 (as amended from time to time, the "Insurance Agreement"), among the Insurer, the Issuer, GreenPoint Mortgage Funding, Inc. and GreenPoint Mortgage Securities Inc. and the Indenture Trustee. As an additional inducement to the Insurer to issue the Policy, and as security for the performance by the Issuer of the Insurer Issuer Secured Obligations and as security for the performance by the Issuer of the Indenture Trustee Issuer Secured Obligations, the Issuer has agreed to grant and assign the Collateral (as defined below) to the Indenture Trustee for the benefit of the Issuer Secured Parties, as their respective interests may appear.
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Ambac Assurance Corporation. (the "Insurer") has issued and delivered a financial guaranty insurance policy, dated the Closing Date (with endorsements, the "Note Policy"), pursuant to which the Insurer guarantees Policy Claim Amounts, as defined in the Note Policy. As an inducement to the Insurer to issue and deliver the Note Policy, the Issuer and the Insurer have executed and delivered the Insurance and Indemnity Agreement, dated as of January 26, 2006 (as amended from time to time, the "Insurance Agreement"), among the Insurer, the Issuer, the Indenture Trustee, Triad Financial Corporation and Triad Financial Special Purpose LLC. As an additional inducement to the Insurer to issue the Note Policy, and as security for the performance by the Issuer of the Insurer Issuer Secured Obligations and as security for the performance by the Issuer of the Indenture Trustee Issuer Secured Obligations, the Issuer has agreed to assign the Collateral (as defined below) as collateral to the Indenture Trustee for the benefit of the Issuer Secured Parties, as their respective interests may appear.
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Related to Ambac Assurance Corporation

  • Service corporation means a corporation organized under ss. 180.1903 to 180.1921.

  • Captive insurance company means any pure captive insurance company, association captive

  • Public corporation means a county, city, village, township, port district, drainage district, special assessment district, or metropolitan district of this state, or a board, commission, or another authority or agency created by or under an act of the legislature of this state.

  • Corporation/ Corpn./ Department means the Central Warehousing Corporation.

  • School Corporation means the Western Xxxxx County Community School Corporation of the County of Xxxxx of the State of Indiana;

  • Association captive insurance company means a company that insures risks of the member organizations of the association and their affiliated companies.

  • Nonprofit corporation means a nonstock corporation organized under ch. 181 that is a nonprofit corporation, as defined in s. 181.0103 (17).

  • Health care corporation means a health care corporation incorporated under the nonprofit health care corporation reform act, 1980 PA 350, MCL 550.1101 to 550.1704.

  • Municipal corporation means, in general terms, a status conferred upon a local government unit, by state law giving the unit certain autonomous operating authority such as the power of taxation, power of eminent domain, police power and regulatory power, and includes a joint economic development district or joint economic development zone that levies an income tax under section 715.691, 715.70, 715.71, or 715.74 of the Ohio Revised Code.

  • of a corporation means all classes of Capital Stock of such corporation then outstanding and normally entitled to vote in the election of directors.

  • Professional corporation means a corporation incorporated under former 1962 PA 192, or a corporation incorporated under this act and governed by chapter 2A.

  • Sponsored captive insurance company means a captive insurance company:

  • Foreign nonprofit corporation means an entity:

  • Foreign professional corporation means a professional corporation organized under laws other than the laws of this state.

  • Gas Corporation means the body corporate established by section 4 of the Gas Corporation Act 1994;

  • Corporation means a corporation, association, company, joint-stock company or business trust.

  • Insurance Companies means the companies with whom the Insurance Policies are held.

  • QUALIFIED MUNICIPAL CORPORATION means a municipal corporation that, by resolution or ordinance adopted on or before December 31, 2011, adopted Ohio adjusted gross income, as defined by section 5747.01 of the Ohio Revised Code, as the income subject to tax for the purposes of imposing a municipal income tax.

  • Finance Corp. means the Person named as “Finance Corp.” in the first paragraph of this instrument until a successor Person shall have become such pursuant to the applicable terms of this Indenture, and thereafter “Finance Corp.” shall mean such successor Person.

  • Office of the Corporation means the executive office of the Corporation, anything in Section 131 of the General Corporation Law to the contrary notwithstanding.

  • Family farm corporation means a corporation founded for the purpose of farming agricultural land in which the majority of the voting stock is held by and the majority of the stockholders are persons or the spouse of persons related to each other within the fourth degree of kinship, according to the rules of the civil law, and at least one of the related persons is residing on or actively operating the farm, and none of whose stockholders are a corporation. A family farm corporation does not cease to qualify under this division where, by reason of any devise, bequest, or the operation of the laws of descent or distribution, the ownership of shares of voting stock is transferred to another person, as long as that person is within the degree of kinship stipulated in this division.

  • Alaska Native Corporation (ANC) means any Regional Corporation, Village Corporation, Urban Corporation, or Group Corporation organized under the laws of the State of Alaska in accordance with the Alaska Native Claims Settlement Act, as amended (43 U.S.C. 1601, et seq.) and which is considered a minority and economically disadvantaged concern under the criteria at 43 U.S.C. 1626(e)(1). This definition also includes ANC direct and indirect subsidiary corporations, joint ventures, and partnerships that meet the requirements of 43 U.S.C. 1626(e)(2).

  • Insurance Commissioner means the Insurance Commissioner

  • insurance agent means, subject to subsection (2), any person who for any compensation and through any medium does one or more of the following:

  • School resource officer means a law enforcement officer or police officer employed by a local law enforcement agency who is assigned to a district through an agreement between the local law enforcement agency and the district.

  • Corporation Group means the Corporation, its affiliate, successors and permitted