Class A Note Insurance Policy definition

Class A Note Insurance Policy means the note guaranty insurance policy issued by the Class A Insurer to the Trust Collateral Agent for the benefit of the Class A Noteholders and the Backup Insurer with respect to the Class A Notes.
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Class A Note Insurance Policy. The note guaranty insurance policy dated as of the Closing Date issued by MBIA insuring the Class A Notes, the form of which is attached hereto as Exhibit C.
Sample 1

Examples of Class A Note Insurance Policy in a sentence

  • The Seller makes the following representations on which the Trust, the Indenture Trustee and the Trust Collateral Agent relied in accepting the Trust Property in trust and in connection with the performance by the Trust Collateral Agent and the Backup Server of its obligations hereunder, the Class A Insurer relied in issuing the Class A Note Insurance Policy and the Backup Insurer relied in issuing the Backup Insurance Policy.

  • The Class A Insurer and the Backup Insurer may each disclaim any of its respective rights and powers under this Agreement (but not its duties and obligations under the Class A Note Insurance Policy or the Backup Insurance Policy, as the case may be), upon delivery of a written notice to the Owner Trustee.

  • The Class A Insurer may disclaim any of its respective rights and powers under this Agreement (but not its duties and obligations under the Class A Note Insurance Policy), upon delivery of a written notice to the Owner Trustee.

  • The Seller makes the following representations and warranties on which the Owner Trustee relies in accepting the Trust Property in trust and issuing the Certificates and on which the Class A Insurer relies in issuing the Class A Note Insurance Policy and on which the Backup Insurer relies in issuing the Backup Insurance Policy.

  • Notwithstanding the foregoing, however, no consent of any Class A Noteholder shall be required in connection with any amendment in order for the Certificateholders to sell, assign, transfer or otherwise dispose of the excess interest, provided that the Certificateholders present evidence to the Trust Collateral Agent and the Insurers that the ratings of the Class A Notes shall not be reduced or withdrawn as a result without regard to the Class A Note Insurance Policy or the Backup Insurance Policy.

  • Credit Acceptance makes the following representations on which the Trust, the Indenture Trustee and the Trust Collateral Agent relies in accepting the Trust Property in trust and in connection with the performance by the Trust Collateral Agent of its obligations hereunder, the Class A Insurer relies in issuing the Class A Note Insurance Policy and the Backup Insurer relies in issuing the Backup Insurance Policy.

  • Any and all proceeds of claims paid by the Class A Insurer or the Backup Insurer under the Class A Note Insurance Policy or the Backup Insurance Policy, as the case may be, and disbursed by the Indenture Trustee or the Trust Collateral Agent shall not be considered payment by the Issuer with respect to the Class A Notes, and shall not discharge the obligations of the Issuer with respect thereto.

  • The Seller makes the following representations and warranties as to the Dealer Agreements, Dealer Loans and the Contracts on which each of the Trust Collateral Agent and the Backup Servicer relies in connection with performance of its obligations hereunder, the Class A Insurer relies in issuing the Class A Note Insurance Policy and the Backup Insurer relies in issuing the Backup Insurance Policy.

  • The Seller makes the following representations and warranties on which the Owner Trustee relies in accepting the Trust Property in trust and issuing the Certificates and on which the Class A Insurer relies in issuing the Class A Note Insurance Policy.

  • The Seller makes the following representations on which the Trust, the Indenture Trustee and the Trust Collateral Agent relied in accepting the Trust Property in trust and in connection with the performance by the Trust Collateral Agent and the Backup Server of its obligations hereunder and the Class A Insurer relied in issuing the Class A Note Insurance Policy.

Related to Class A Note Insurance Policy

  • Certificate Insurance Policy The Certificate Guaranty Insurance Policy No. AB1094BE, dated the Closing Date, including any endorsements thereto issued by the Certificate Insurer to the Trustee for the benefit of the Holders of the Insured Certificates, a form of which is attached as Exhibit L hereto.

  • Mortgage Impairment Insurance Policy A mortgage impairment or blanket hazard insurance policy as described in Section 4.11.

  • Class A Note Interest Rate means a per annum rate of [ ]% [in excess of LIBOR as determined on the LIBOR Determination Date for the applicable Interest Period].

  • Life Insurance Policy has the meaning given in Section 6.10.

  • Class A Notes means the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes and the Class A-4 Notes.

  • Insurance Policy With respect to any Mortgage Loan included in the Trust Fund, any insurance policy, including all riders and endorsements thereto in effect, including any replacement policy or policies for any Insurance Policies.

  • 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.

  • Class A Note Initial Principal Balance means $750,000,000.

  • Class A Note Principal Balance means, on any date of determination, an amount equal to (a) the Class A Note Initial Principal Balance, minus (b) the aggregate amount of principal payments made to the Class A Noteholders on or prior to such date.

  • Class A-3 Note Interest Rate means a rate per annum equal to %.

  • Class A-1 Note Interest Rate means a rate per annum equal to 0.64000%.

  • Class A Note Rate means 2.97% per annum.

  • Class A Note Balance means, at any time, the sum of the Class A-1 Note Balance, the Class A-2 Note Balance and the Class A-3 Note Balance at such time.

  • Class A Noteholders means, collectively, the Class A-1 Noteholders, the Class A-2 Noteholders, the Class A-3 Noteholders and the Class A-4 Noteholders.

  • Class A Note means a Class A-1 Note, a Class A-2 Note, a Class A-3 Note or a Class A-4 Note.

  • R&W Insurance Policy means the representations and warranties insurance policy issued to Buyer in connection with the transactions contemplated hereby.

  • Class A Noteholders’ Monthly Accrued Interest means, with respect to any Payment Date, the aggregate interest accrued for the related Interest Period on the Class A-1 Notes, the Class A-2 Notes and the Class A-3 Notes at the respective Interest Rate for such Class on the Note Balance of the Notes of each such Class on the immediately preceding Payment Date or the Closing Date, as the case may be, after giving effect to all payments of principal to the Noteholders of the Notes of such Class on or prior to such preceding Payment Date.

  • Class B Note Initial Principal Balance means $17,980,000.

  • Class A-2 Note Interest Rate means a rate per annum equal to %.

  • Primary Mortgage Insurance Policy Any primary mortgage guaranty insurance policy issued in connection with a Mortgage Loan which provides compensation to a Mortgage Note holder in the event of default by the obligor under such Mortgage Note or the related Security Instrument, if any or any replacement policy therefor through the related Interest Accrual Period for such Class relating to a Distribution Date.

  • Class B Note Interest Rate means a per annum rate of [ ]% [in excess of LIBOR as determined on the LIBOR Determination Date for the applicable Interest Period].

  • Class B Note Principal Balance means, on any date of determination, an amount equal to (a) the Class B Note Initial Principal Balance, minus (b) the aggregate amount of principal payments made to the Class B Noteholders on or prior to such date.

  • Class A Note Interest Shortfall means, for any distribution date, the excess of: • the Class A Noteholders’ Interest Distribution Amount on the preceding distribution date, over • the amount of interest actually distributed to the class A noteholders on that preceding distribution date, plus interest on the amount of that excess, to the extent permitted by law, at the interest rate applicable for each related class of notes from that preceding distribution date to the current distribution date.

  • Credit Enhancement Agreement means the Agreement among the Sellers, the Master Servicer, the Trustee and the Credit Enhancement Provider with respect to the Credit Enhancement.

  • Class A-1 Note Balance means, at any time, the Initial Class A-1 Note Balance reduced by all payments of principal made prior to such time on the Class A-1 Notes.