Bond Insurance definition

Bond Insurance means, at any time as applicable, any bond insurance policy, including the Initial Financial Guaranty Insurance Policy issued by Ambac Assurance Corporation and effective as of the date of delivery of the Bonds, securing the payment of principal of the Bonds on the stated maturity date thereof and the payment of interest on the Bonds on each Interest Payment Date therefor, delivered pursuant to and meeting the requirements of Section 5.16 of the Agreement.

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Bond Insurance means any bond insurance policy guaranteeing the payment when due of all or part of the Principal of and interest on any Parity Bonds.

Bond Insurance and “Bond Insurance Policy” means, at any time as applicable, any bond insurance policy, including the Initial Financial Guaranty Insurance Policy issued by the Bond Insurer and effective as of the date of delivery of the Bonds, securing the payment of principal of the Bonds on the stated maturity date thereof and the payment of interest on the Bonds on each Interest Payment Date therefor, delivered pursuant to and meeting the requirements of Section 5.15 of the Agreement.

Examples of Bond Insurance in a sentence

• Upon request, the Servicer shall provide to the Master Servicer and the Depositor evidence of the authorization of the person signing any certification or statement, copies or other evidence of Fidelity Bond Insurance and Errors and Omission Insurance policy, financial information and reports, and such other information related to the Servicer or any Subservicer or the Servicer or such Subservicer's performance hereunder.

• This Servicing Agreement may be amended from time to time by the parties hereto, provided that any amendment be accompanied by a letter from the Rating Agencies that the amendment will not result in the downgrading or withdrawal of the rating then assigned to the Bonds or the rating then assigned to the Bonds without taking into account the Bond Insurance Policy, and the consent of the Bond Insurer and the Indenture Trustee.

• Upon receipt of the items referred to above and payment of all amounts owing to the Bond Insurer and the taking of physical possession of the new credit enhancement, the Indenture Trustee shall, within five Business Days following receipt of such items and such taking of physical possession, deliver the replaced Bond Insurance Policy to the Bond Insurer.

• If the purpose of the amendment is to correct any mistake, eliminate any inconsistency, cure any ambiguity or deal with any matter not covered, it shall not be necessary to obtain the consent of any Holder, but the Owner Trustee shall be furnished with a letter from the Rating Agencies that the amendment will not result in the downgrading or withdrawal of the rating then assigned to any Bond or the rating then assigned to any Bond without taking into account the Bond Insurance Policy.

• Review of Developer’s Performance Bond, Insurance Certificate, and other performance guarantees and security.

More Definitions of Bond Insurance

Bond Insurance means any bond insurance, letter of credit, guaranty, surety bond or similar credit enhancement device providing for or securing the payment of all or part of the principal of and interest on any Parity Bonds.

Bond Insurance means a policy of municipal bond insurance, if any, purchased to provide security for the Bonds, or any portion thereof, and delivered on the Closing Date.

Bond Insurance means with respect to any Series of Bonds, the municipal bond insurance policy (if any) identified in a Supplemental Resolution.

Bond Insurance means, at any time as applicable, any bond insurance policy securing the payment of principal of the Bonds on the stated maturity date thereof and the

Bond Insurance means, with respect to the Series 2014 Bonds, an insurance policy that, if determined pursuant to the Bond Proceedings to be necessary or desirable for marketing purposes, is issued by a Bond Insurer for the benefit of the holders of the Series 2014 Bonds and that insures the payment when due of all or any portion of Bond Service Charges on the Series 2014 Bonds.

Bond Insurance. Any financial guaranty insurance policy covering any Bonds or Class of Bonds of any Series.

Bond Insurance means, at any time as applicable, any bond insurance policy securing the payment of principal of the Bonds on the stated maturity date thereof and the payment of interest on the Bonds on each Interest Payment Date therefor, delivered pursuant to and meeting the requirements of Section 5.16 of the Agreement.