Financial guaranty insurance means a surety bond, insur- ance policy, indemnity contract, or any similar guarantee issued by an insurer under which a loss is payable upon proof of occur- rence of financial loss to an insured claimant. “Financial guaranty insurance” does not include credit insurance, credit life insurance, disability insurance, mortgage guaranty insurance, or long−term care insurance.
Financial guaranty insurance means a surety bond, insurance policy or, when issued by an insurer, an indemnity contract and any guaranty similar to a surety bond, insurance policy, or insurer-issued indemnity contract, under which loss is payable upon proof of occurrence of financial loss to an insured claimant, obligee, or indemnitee as a result of any of the following events:
Financial guaranty insurance means a surety bond, an insurance policy o r ... an indemnity contract, and any guaranty sim ilar to the foregoing types, under which loss is payable, upon proof of occurrence of financial loss, to an insured claimant, obligee or indemnitee as a result of any of the following events:
Examples of Financial guaranty insurance in a sentence
Financial guaranty insurance companies are permitted to deduct from taxable income, subject to certain limitations, amounts added to statutory contingency reserves (see Note 4).
Financial guaranty insurance may be issued to the holders of the insured obligations at the time of issuance of those obligations, or may be issued in the secondary market to holders of public bonds and structured securities.
Financial guaranty insurance adds another potential source of repayment of principal and interest for an investor, namely the credit quality of the financial guarantor.
Financial guaranty insurance policies exposure generally declines according to predetermined schedules.
Financial guaranty insurance may be written only by an insurer empowered to write financial guaranty business as described in Section 1113(a).
More Definitions of Financial guaranty insurance
Financial guaranty insurance means a surety bond, an insurance policy or, when issued by an insurer or any person doing an insurance business as defined in Section [insert section], an indemnity contract and any guaranty similar to the foregoing types, under which loss is payable upon proof of occurrence of financial loss to an insured claimant, obligee or indemnitee as a result of any of the following events:
Financial guaranty insurance means the financial guaranty insurance policy issued by Ambac Assurance insuring the payment when due of the principal of and interest on the Notes as provided therein.
Financial guaranty insurance. Policy Endorsement Effective Date August 2, 2002 attached to and forming part of Financial Guaranty Insurance Policy No. CA00292A Obligor: Long Beach Mortgage Loan Trust 2002-3 (the "Trust")
Financial guaranty insurance means a surety bond, an insurance policy or, when issued by an insurer, an indemnity contract and any guarantee similar to the foregoing types, under which loss is payable upon proof of occurrence of financial loss to an insured claimant, obligee, or indemnitee as a result of any of the following events:
Financial guaranty insurance means a surety bond, insurance policy or
Financial guaranty insurance. Policy No. [ ] (the "Policy") issued by MBIA Insurance Corporation ("MBIA") on July 19, 2001, to the Indenture Trustee as beneficiary. The Policy shall be a Credit Support Document solely with respect to net Fixed Amounts payable by Party B, and shall not be available to support, and may not be drawn on in respect of, any amounts due from Party B under Section 6(e) or any other provision of the Agreement. Party B agrees that the security interests in collateral granted to the Indenture Trustee on behalf of Party A as an Enhancement Provider under the Indenture in respect of Series 2001-A shall secure the obligations of Party B to Party A under this Agreement.
Financial guaranty insurance means the kind of insurance defined in paragraph one of subsection (a) of section six thousand nine hundred one of this chapter.