Controlling Insurer definition

Controlling Insurer. As of any date of determination: (i) the NIMS Insurer, so long as (A) Insured NIM Notes are outstanding or any amounts are owed to the NIMS Insurer under the Indenture and (B) no NIMS Insurer Default has occurred and is continuing; (ii) the Certificate Insurer, so long as (A) the Insured Certificates are outstanding or any amounts are owed to the Certificate Insurer under this Agreement or the Insurance Agreement, (B) the NIMS Insurer is not the Controlling Insurer pursuant to clause (i) above and (C) no Certificate Insurer Default has occurred and is continuing; or (iii) none, so long as neither the NIMS Insurer nor the Certificate Insurer is the Controlling Insurer pursuant to clause (i) or (ii) above.
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Controlling Insurer. For so long as the Notes remain outstanding or any Reimbursement Amounts remain due and owing to an Insurer (i) the Insurer that insures the majority of the outstanding Note Principal Amount, unless an Insurer Default has occurred and is continuing with respect to such Insurer or (ii) if an Insurer Default has occurred with respect to the Insurer in clause (i) hereof, the remaining Insurer, provided that no Insurer Default has occurred and is continuing with respect to such Insurer, and (iii) if an Insurer Default has occurred and is continuing with respect to both Insurers, there shall not be a Controlling Insurer.
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Controlling Insurer. If no Certificate Insurer Default has occurred and is continuing with respect to the Class M Certificate Insurer and for so long as the Class M Certificates are still outstanding, then the Class M Certificate Insurer; provided, however, that if a Certificate Insurer Default has occurred and is continuing with respect to the Class M Certificate Insurer or if the Certificate Principal Balance of the Class M Certificates has been reduced to $0, then, so long as no Certificate Insurer Default has occurred and is continuing with respect to the Class A Certificate Insurer, the Class A Certificate Insurer shall be the Controlling Insurer.
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Examples of Controlling Insurer in a sentence

  • If the terms of a facility proposed to be entered into with an Advancing Person by the Trust Fund would not materially and adversely affect the interests of any Certificateholder, then the Controlling Insurer or the Guarantor, if applicable, shall not withhold its consent, after consultation with the Guarantor, if applicable, to the Trust Fund's entering into such facility.

  • In the event none of the Master Servicer, the NIMS Insurer or the Controlling Insurer exercises its option to purchase from REMIC 1 any such Group I Mortgage Loan or related REO Property prior to the expiration of such option, the Guarantor shall be entitled to purchase such Group I Mortgage Loan or related REO Property at any time thereafter.

  • The appointment of any Custodian may at any time be terminated and a substitute Custodian appointed therefor upon the reasonable request of the Master Servicer to the Trust Administrator and the consent of the Controlling Insurer, after consultation with the Guarantor, the consent to which shall not be unreasonably withheld.

  • The Holders of Notes evidencing more than 66% of the Note Balance of the Notes (with the consent of the Controlling Insurer) affected by any default or Master Servicer Event of Default under clause (vi) of Section 6.01 may waive such default or Master Servicer Event of Default.

  • Upon receiving such notice of resignation, the Contract Seller and the Controlling Insurer (provided that if an Insurer Default has occurred and is continuing, no such consent needs to be obtained from the Insurers) shall promptly appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee.

  • The Controlling Insurer, so long as the Notes are Outstanding or any Reimbursement Amounts remain due and owing to the Insurers and no Insurer Default shall have occurred and be continuing with respect to the Controlling Insurer, and the Majority Noteholders, for so long as there is no Controlling Insurer due to an Insurer Default having occurred and continuing with respect to both Insurers.

  • Except as otherwise provided in Sections 4.26 and 4.28 hereof, the Servicer shall not resign from the obligations and duties hereby imposed on it unless it or the Indenture Trustee, acting at the direction of the Controlling Insurer, determines that the Servicer’s duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured.

  • Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.02 above, the Controlling Insurer or the Majority Noteholders with the consent of the Controlling Insurer, may waive any past Default or Event of Default and its consequences except a Default (a) in the payment of principal of or interest on any of the Notes or (b) in respect of a covenant or provision hereof that cannot be modified or amended without the consent of the Holder of each Note.

  • Upon request of the Indenture Trustee or the Controlling Insurer, the Issuer will execute and deliver such further instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purpose of this Indenture.

  • All costs and expenses of the Controlling Insurer in connection with such action, proceeding or investigation, including (without limitation) any judgment or settlement entered into affecting the Insurers or the Insurers’ interests, shall be included in the Reimbursement Amount.


More Definitions of Controlling Insurer

Controlling Insurer. The Pool Insurer, to the extent that the Cumulative Loss Percentage is less than 7.00%, and the Note Insurer, to the extent that the Cumulative Loss Percentage equals or exceeds 7.00% or the Pool Insurance Policy has been terminated.
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Controlling Insurer. As defined in the Control Agreement.
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Related to Controlling Insurer

  • Existing insurer means the insurance company whose policy or contract is or will be changed or affected in a manner described within the definition of “replacement.”

  • Controlling Affiliate means an Affiliate that directly or indirectly Controls the Hotel and/or Controls the entity that Controls the Hotel.

  • R&W Insurer means AIG Specialty Insurance Company.

  • Controlling Person With respect to any Person, any other Person who “controls” such Person within the meaning of the Securities Act.

  • Member insurer means any person who:

  • Controlling Party Has the meaning specified in the Intercreditor Agreement.

  • Controlling Company shall have the meaning set forth in Section 10.02(a) of this Agreement.

  • Controlling producer means a producer who directly or indirectly controls an

  • Insurer means a person who insures or guarantees for the benefit of the mortgagee all or any portion of the risk of loss upon borrower default on any of the mortgage loans originated, purchased or serviced by the Company or any of its Subsidiaries, including the Federal Housing Administration, the United States Department of Veterans’ Affairs, the Rural Housing Service of the U.S. Department of Agriculture and any private mortgage insurer, and providers of hazard, title or other insurance with respect to such mortgage loans or the related collateral.

  • Controlling Entity means an entity which owns, directly or indirectly through one or more intermediaries, (i) a general partnership interest or a Controlling Interest of the limited partnership interests in Borrower (if Borrower is a partnership or joint venture), (ii) a manager's interest in Borrower or a Controlling Interest of the ownership or membership interests in Borrower (if Borrower is a limited liability company), (iii) a Controlling Interest of any class of voting stock of Borrower (if Borrower is a corporation), (iv) a trustee's interest or a Controlling Interest of the beneficial interests in Borrower (if Borrower is a trust), or (v) a managing partner's interest or a Controlling Interest of the partnership interests in Borrower (if Borrower is a limited liability partnership).

  • Controlling Persons means the natural persons who exercise control over an Entity. In the case of a trust, such term means the settlor, the trustees, the protector (if any), the beneficiaries or class of beneficiaries, and any other natural person exercising ultimate effective control over the trust, and in the case of a legal arrangement other than a trust, such term means persons in equivalent or similar positions. The term “Controlling Persons” shall be interpreted in a manner consistent with the Financial Action Task Force Recommendations.

  • Controlling Authority means the Minister administering the Tasmanian State Service Act 1984.

  • Alien insurer means an insurer domiciled outside the United States.

  • Manager has the meaning set forth in 2.1.

  • Controlling Interest means: (1) an ownership interest or participating interest in a business entity by virtue of units, percentage, shares, stock, or otherwise that exceeds 10 percent; (2) membership on the board of directors or other governing body of a business entity of which the board or other governing body is composed of not more than 10 members; or (3) service as an officer of a business entity that has four or fewer officers, or service as one of the four officers most highly compensated by a business entity that has more than four officers. Subsection (3) of this section does not apply to an officer of a publicly held business entity or its wholly owned subsidiaries.

  • Internationally active insurance group means an insurance holding company system:

  • Ultimate controlling person means that person which is not controlled by any other person.

  • Approved Servicer shall have the meaning assigned to such term in the definition of “Qualified Institutional Lender.”

  • Sponsor shall have the meaning given in the Recitals hereto.

  • Approved Insurer Each insurance policy shall be issued by insurance companies authorized to do business in the State of Nevada or eligible surplus lines insurers under federal and Nevada law and having agents in Nevada upon whom service of process may be made, and currently rated by A.M. Best as “A-VII” or better.

  • Underlying insurance means the DESIGNATED UNDERLYING POLICY and all insurances affording professional liability insurance coverage to any INSURED hereunder which are considered to be primary to this insurance, including without limitation, any such mandatory insurance coverage afforded any INSURED by any law society or other program, and any such non-mandatory insurances purchased as coverage or primary to (beneath) this POLICY coverage, but in no case shall include any insurance specifically acquired and stated to be in excess of this POLICY. Signed on behalf of Lawyers’ Professional Indemnity CompanyDaniel E. PinningtonDaniel E. PinningtonPresident and Chief Executive Officer Endorsement No . 1pollutIon exClusIonThis POLICY, subject to all its terms and conditions not in conflict with this endorsement, and further to Part III Exclusion (g), shall include the following:This insurance does not apply to:(a) damage arising out of the actual, alleged or threatened discharge, seepage, dispersal, release or escape of pollutants:

  • CFD Administrator means an official of the City, or designee thereof, responsible for determining the Special Tax Requirement and providing for the levy and collection of the Special Taxes.

  • Member Association means any national football association affiliated to FIFA, irrespective of whether its representative team is participating in the Competition.

  • Company Insurance Policies has the meaning set forth in Section 4.15.

  • Primary Insurance Policy Each policy of primary mortgage guaranty insurance or any replacement policy therefor with respect to any Mortgage Loan.

  • Controlling Securities means (i) the Class A Notes so long as the Class A Notes are outstanding, (ii) after the Class A Notes are no longer outstanding, the Class B Notes so long as the Class B Notes are outstanding and (iii) after the Class B Notes are no longer outstanding, the Class C Notes so long as the Class C Notes are outstanding.