Examples of FGIC Parties in a sentence
Third, conversely, if the Adjusted FGIC Payments for a Policy are less than the FGIC Payments that were owed to the FGIC Parties under the CPP in effect prior to the CPP Adjustment (meaning the applicable FGIC Payment Payor overpaid), FGIC will promptly notify the related Policy Payee of such FGIC Payment Excess.
Further, all liens and other claims, interests and encumbrances upon the FGIC Parties with respect to any Claim or portion thereof that is not Permitted will be released, discharged and terminated.
Second, if the Adjusted FGIC Payments for a Policy are greater than the FGIC Payments that were owed to the FGIC Parties under the CPP in effect prior to the CPP Adjustment (meaning the applicable FGIC Payment Payor underpaid, after giving effect to the CPP Adjustment), FGIC will promptly notify the related Policy Payee of such FGIC Payment Deficiency.
First, within a commercially reasonable time after each CPP Adjustment, FGIC will determine, on a Policy-by-Policy basis, the amount of FGIC Payments that would have been payable to the FGIC Parties had FGIC paid all Permitted Policy Claims from and after the Effective Date based on the Adjusted CPP (the “Adjusted FGIC Payments”).
Consistent with the terms of its engagement, Lazard did not undertake any independent tax analysis, but rather relied on tax information described in this Disclosure Statement and the assumptions provided by the FGIC Parties, their advisors and other advisors to the NYLB.
Fourth, FGIC will recalculate a FGIC Payment Deficiency or FGIC Payment Excess to account for any FGIC Payment that becomes payable to the FGIC Parties afterdetermination of such FGIC Payment Deficiency or FGIC Payment Excess, but before the next CPP Adjustment.
Section 1.4(A) of the Restructured Policy Terms requires all FGIC Payment Payors to pay in Cash to the FGIC Parties all FGIC Payments that would have been payable had the Plan been in effect at all times from and after the issuance of the 1310 Order, when due, or if such FGIC Payment would have been due prior to the Effective Date, by the fifth Business Day following the Effective Date.
Section 7.1 of the Plan provides that Permitted Claims will be treated solely pursuant to the Plan and such treatment will effect a full and complete release, discharge and termination of any liens or other claims, interests or encumbrances upon the FGIC Parties with respect to such Permitted Claims.
The definition of FGIC Payments indicates that, with respect to such Policy Claims, FGIC is entitled to all of the recoveries, reimbursements, settlements and other amounts (other than proceeds from Trust Loan Repurchase Obligations) payable to the FGIC Parties under such Policies or related Transaction Documents, until it has been reimbursed in full.