Financial Guaranty Insurer Default definition

Financial Guaranty Insurer Default. The existence and continuance of any of the following:
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Examples of Financial Guaranty Insurer Default in a sentence

  • Provided there does not exist a Financial Guaranty Insurer Default, the Servicer hereby acknowledges and agrees that it shall service and administer the Mortgage Loans and any REO Properties, and shall maintain the Collection Account for the benefit of the Certificateholders and for the benefit of the Financial Guaranty Insurer, and all references in this Agreement to the benefit of or actions on behalf of the Certificateholders shall be deemed to include the Financial Guaranty Insurer.

  • Provided there does not exist a Financial Guaranty Insurer Default, the Trustee shall hold the Trust and the Mortgage Files for the benefit of the Certificateholders and the Financial Guaranty Insurer and all references in this Agreement (including, without limitation, in Sections 2.01, 2.02 and 2.03) and in the Certificates to the benefit of Holders of the Certificates shall be deemed to include the Financial Guaranty Insurer.

  • This Agreement shall be binding upon and inure to the benefit of the Financial Guaranty Insurer; provided that, notwithstanding the foregoing, for so long as a Financial Guaranty Insurer Default is continuing under its obligations under the Financial Guaranty Insurance Policy, the Adjustable Rate Group Certificateholders shall succeed to the Financial Guaranty Insurer's rights hereunder.

  • Provided there does not exist a Financial Guaranty Insurer Default, the Servicer hereby acknowledges and agrees that it shall service and administer the Mortgage Loans and any REO Properties, and shall maintain the Collection Account for the benefit of the Bondholders and for the benefit of the Financial Guaranty Insurer, and all references in this Agreement to the benefit of or actions on behalf of the Bondholders shall be deemed to include the Financial Guaranty Insurer.

  • Provided there does not 84 90 exist a Financial Guaranty Insurer Default, the Trustee shall hold the Trust and the Mortgage Files for the benefit of the Certificateholders and the Financial Guaranty Insurer and all references in this Agreement (including, without limitation, in Sections 2.01, 2.02 and 2.03) and in the Certificates to the benefit of Holders of the Certificates shall be deemed to include the Financial Guaranty Insurer.

  • This Agreement shall be binding upon and inure to the benefit of the Financial Guaranty Insurer; provided that, notwithstanding the foregoing, for so long as a Financial Guaranty Insurer Default is continuing under its obligations under the Financial Guaranty Insurance Policy, the Bondholders shall succeed to the Financial Guaranty Insurer's rights hereunder.

Related to Financial Guaranty Insurer Default

  • Insurer Default means the occurrence and continuance of any of the following events:

  • Mortgage guaranty insurance means surety insurance under which a mortgagee or other creditor is indemnified against losses caused by the default of a debtor.

  • Acceptable Insurance Default shall have the meaning assigned to such term or analogous term in the Servicing Agreement.

  • Note Insurer Default The existence and continuance of any of the following:

  • Insurance Agreement Event of Default means an "Event of Default" as defined in the Insurance Agreement.

  • NIMs Insurer Default As defined in Section 10.13.

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

  • Certificate Insurer Default The existence and continuance of any of the following:

  • Required Insurance Policy With respect to any Mortgage Loan, any insurance policy that is required to be maintained from time to time under this Agreement.

  • Guarantee Event of Default means a default by the Guarantor on any of its payment or other obligations under this Guarantee.

  • D&O Liability Insurance Policies means all insurance policies (including any “tail policy”) of any of the Debtors for liability of any current or former directors, managers, officers, and members.

  • Specified Insurance Company means any Entity that is an insurance company (or the holding company of an insurance company) that issues, or is obligated to make payments with respect to, a Cash Value Insurance Contract or an Annuity Contract.

  • Indenture Event of Default means an "Event of Default" as defined in the Indenture.

  • Special Primary Insurance Policy Any Primary Insurance Policy covering a Mortgage Loan the premium of which is payable by the Trustee pursuant to Section 4.04(a), if so identified in the Mortgage Loan Schedule. There are no Special Primary Insurance Policies with respect to any of the Mortgage Loans.

  • Guarantor Event of Default means the occurrence of any “Event of Default” under and as defined in the Performance Guaranty.

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).

  • Mortgage Loan Event of Default means an “Event of Default” under and as defined in the Mortgage Loan Agreement.

  • Master Servicer Event of Default One or more of the events described in Section 7.01.

  • R&W Insurance Policy has the meaning set forth in Section 6.15.

  • Permitted SBIC Guarantee means a guarantee by the Borrower of Indebtedness of an SBIC Subsidiary on the SBA’s then applicable form, provided that the recourse to the Borrower thereunder is expressly limited only to periods after the occurrence of an event or condition that is an impermissible change in the control of such SBIC Subsidiary (it being understood that, as provided in clause (s) of Article VII, it shall be an Event of Default hereunder if any such event or condition giving rise to such recourse occurs).

  • Mortgage Impairment Insurance Policy A mortgage impairment or blanket hazard insurance policy as described in Section 4.11.

  • Financial Covenant Default has the meaning assigned to such term in Section 8.01(6).

  • Debenture Event of Default means an "Event of Default" as defined in the Indenture.

  • 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.

  • Insurance Assignment each collateral assignment of insurance pursuant to which an Obligor assigns to Agent, for the benefit of Secured Parties, such Obligor’s rights under key-man life, business interruption or other insurance policies as Agent deems appropriate, as security for the Obligations.