Bond Insurance Policy definition

Bond Insurance Policy means the municipal bond insurance policy, if any, issued by the Bond Insurer that guarantees payment of principal of and interest on the Bonds and constitutes a Bond Facility under the Indenture.

Bond Insurance Policy means the municipal bond new issue insurance policy issued by the Bond Insurer that guarantees payment of principal of and interest on the Bonds.

Bond Insurance Policy means the municipal bond insurance policy issued by the Bond Insurer insuring the payment when due of the principal of, and interest on, the Bonds as provided therein.

Examples of Bond Insurance Policy in a sentence

• 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.

• For the avoidance of doubt, this Section II.B.2 shall not affect or limit the application of section 509 of the Bankruptcy Code or any similar doctrine to Bond Insurance Policy Claims, which are preserved for enforcement by the City or by the relevant Bond Insurer.

• Except with respect to Bond Insurance Policy Claims, the allowance, classification and treatment of Allowed Claims and the respective Distributions and treatments specified in the Plan take into account the relative priority and rights of the Claims in each Class and all contractual, legal and equitable subordination rights relating thereto, whether arising under general principles of equitable subordination, section 510(b) of the Bankruptcy Code or otherwise.

More Definitions of Bond Insurance Policy

Bond Insurance Policy means the financial guaranty insurance policy issued by the Bond Insurer insuring the payment when due of the principal of and interest on the Bonds as provided therein.

Bond Insurance Policy means the municipal bond insurance policy issued by the Bond Insurer concurrently with the delivery of the Bonds guaranteeing the scheduled payment when due of the principal of and interest on the Bonds.

Bond Insurance Policy means the municipal bond new issue insurance policy or policies issued by an Insurer guaranteeing the payment of the principal of and interest on any portion of the Bonds.

Bond Insurance Policy means the municipal bond insurance policy or financial guaranty insurance policy, if any, issued by the Bond Insurer guaranteeing the payment when due of the principal of and interest on all or a portion of the Bonds, if set forth in the Sale Certificate.

Bond Insurance Policy. The bond guaranty insurance policy issued by the Bond Insurer for the benefit of the Class A Bondholders.

Bond Insurance Policy means a policy of municipal bond insurance which guarantees the scheduled payments of principal of and interest on the Bonds when due.

Bond Insurance Policy means that standard policy of the Insurer, if acquired, to ensure timely payment of the scheduled principal of and interest on the Bonds to the owners thereof, upon satisfaction of all preconditions set forth in said Policy, as specifically noted by a legend or other appropriate text hereby authorized to be printed on the Bonds themselves. If no Bond Insurance Policy is acquired by the Local Government Unit at the time the Bonds are issued, then the term “Bond Insurance Policy” will not be relevant to the Bonds.