Cumulative Insurance Payments definition

Cumulative Insurance Payments. As defined in the Series Supplement.

Cumulative Insurance Payments. As of any time of determination, the aggregate of all Certificate Insurance Payments previously made by the Certificate Insurer under the Certificate Policy minus the aggregate of all payments previously made to the Certificate Insurer pursuant to Sections 4.02(a)(xvi) of this Series Supplement as reimbursement for Certificate Insurance Payments.

Cumulative Insurance Payments. As of any time of determination, the aggregate of all Insurance Payments previously made by the Certificate Insurer under the Policy plus interest thereon from the date such amount became due until paid in full, at a rate of interest calculated as provided in the Insurance Agreement minus all payments previously made to the Certificate Insurer pursuant to Section 4.01 hereof as reimbursement for such amounts.

Examples of Cumulative Insurance Payments in a sentence

• Cumulative Insurance Payments - The aggregate of any payments made with respect to the Class A Certificates by the financial guaranty insurer under the financial guaranty insurance policy.

• The Special Servicer will deposit the Additional Servicing Fee in the Reserve Fund to be paid: first, as reimbursement of the Certificate Insurer with respect to Cumulative Insurance Payments; second, to pay the Class A Certificates, pursuant to Section 4.05, in respect of any Realized Losses to the extent not covered by Excess Cash Flow; third, to the holders of the Class A Certificates, any Basis-Risk Shortfall Carryforward Amount; and fourth, to the Special Servicer.

• On each Distribution Date, to the extent required, the Trustee shall make withdrawals from the Basis Risk Reserve Fund and use the amounts in the Basis Risk Shortfall Reserve Fund to make distributions to the Certificate Insurer, in an amount equal to the sum of (x) the premium for the Certificate Guaranty Insurance Policy in respect of the Class A-IB-1 Termination Payment and (y) the amount, if any, described in clause (b) of the definition of Cumulative Insurance Payments.

• Notwithstanding the foregoing, no purchase pursuant to this Section 9.01(a) is permitted if it would result in a draw on the Certificate Policy, or if the Certificate Insurer would not be paid all amounts owed to it at such time, including the reimbursement for all Cumulative Insurance Payments, unless, in either case, the Certificate Insurer consents in writing.

• Cumulative Insurance Payments: As defined in the Series Supplement.

More Definitions of Cumulative Insurance Payments

Cumulative Insurance Payments. As of any time of determination, the aggregate of all Insurance Payments previously made by the Certificate Insurer under the Policy plus interest thereon from the date such amount became due until paid in full, at a rate of interest calculated as provided in the Insurance Agreement minus the sum of (i) all payments previously made to the Certificate Insurer pursuant to Section 4.01 hereof as reimbursement for such amounts and (ii) any payments made by the Certificate Insurer attributable to Excess Bankruptcy Losses, Excess Fraud Losses, Excess Special Hazard Losses and Excess Extraordinary Losses.

Cumulative Insurance Payments. As of any time of determination, (i) the aggregate amount of all Insured Payments previously made by the Insurer under the Policy (other than any payments made by the Insurer attributable to Excess Losses) plus interest thereon from the date such amounts became due until paid in full, at a rate of interest equal to the Late Payment Rate and in accordance with Section 3.03(a) of the Insurance Agreement minus (ii) the sum of the aggregate of all payments previously made to the Insurer pursuant to Section 4.02 hereof as reimbursement for such amounts.

Cumulative Insurance Payments. As of any time of determination, the aggregate of all MBIA Insurance Payments previously made by MBIA under the MBIA Policy minus the aggregate of all payments previously made to MBIA pursuant to Section 4.02(a)(xvi) hereof or otherwise as reimbursement for MBIA Insurance Payments.

Cumulative Insurance Payments. As of any time of determination, the aggregate amount of all Insurance Payments previously paid by the Insurer under the Policy minus (a) the aggregate of all payments previously made to the Insurer pursuant to Section 4.02(c)(viii) and 4.02(d)(x) hereof as reimbursement for Insurance Payments.

Cumulative Insurance Payments. As of any time of determination, the aggregate of all Certificate Insurance Payments previously made by the Certificate Insurer under the Certificate Policy minus the aggregate of all payments previously made to the Certificate Insurer pursuant to Sections 4.02(a)(xvi) and 4.02(e) of this Series Supplement as reimbursement for Certificate Insurance Payments. Cut-off Date: September 1, 2001.

Cumulative Insurance Payments. As of any time of determination, any outstanding, unpaid Certificate Insurer Reimbursement Amount.

Cumulative Insurance Payments. As of any time of determination, the aggregate amount of all Insured Payments previously paid by the Certificate Insurer under the Certificate Guaranty Insurance Policy minus (a) the aggregate of all payments previously made to the Certificate Insurer pursuant to Sections 4.02(c)(iii) hereof as reimbursement for such Insured Payments, plus (b) interest thereon from the date such amounts became due until paid in full, at a rate of interest equal to the rate set forth in the Insurance Agreement.