Default insurance definition

Default insurance means insurance insuring education loans, authority loans, or obligations against default.
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Default insurance means insurance insuring education loans, corporation loans, or
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Default insurance means insurance insuring education loans, 858 authority loans or bonds against default;
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Examples of Default insurance in a sentence

  • All policies covering the Collateral are to be made payable to the Collateral Agent for the benefit of the Agents and the Lenders, as its interests may appear, in case of loss, under a standard non-contributory “lender” or “secured party” clause, provided, that, in the absence of a continuing Event of Default, insurance payments of less than $250,000 in any Fiscal Year may be paid directly to the Borrower and its Subsidiaries.

  • During the existence of an Event of Default, insurance proceeds may be applied by Lender toward payment of any of the Obligations in such order of application as Lender may elect.

  • All policies covering the Collateral are to be made payable to the Collateral Agent for the benefit of the Agents and the Lenders, as its interests may appear, in case of loss, under a standard non-contributory “lender” or “secured party” clause, provided, that, in the absence of a continuing Event of Default, insurance payments of less than $500,000 in any Fiscal Year may be paid directly to the Borrowers and their Subsidiaries.

Related to Default insurance

  • Blanket insurance policy means a group policy covering a defined class of

  • FHA Insurance means the Federal mortgage insurance authorized pursuant to Section 220, 221(d)(3), 221 (d)(4) or 223(f) of Title II of the National Housing Act of 1934, as amended.

  • Insurance means (i) all insurance policies covering any or all of the Collateral (regardless of whether the Collateral Agent is the loss payee thereof) and (ii) any key man life insurance policies.

  • Primary Coverage The CONTRACTOR’s insurance shall be primary insurance as respects TOWN and any insurance maintained by TOWN shall be excess of the CONSULTANT’s insurance and shall not contribute to it. Claim Reporting: Any failure to comply with the claim reporting provisions of the policies or any breach of a policy warranty shall not affect coverage afforded under the policy to protect the TOWN.