Insured Obligation definition

Insured Obligation means in respect of any Policy Claim, an obligation guaranteed by the Segregated Account under or pursuant to the relevant Policy or Policies. A Policy may provide financial guaranty insurance in respect of more than one Insured Obligation, each Insured Obligation as identified by its CUSIP, if any.

Insured Obligation means "municipal obligation bonds", "special revenue bonds", "industrial development bonds" and "utility first mortgage obligations" which the Borrower is permitted to insure under the provisions of Section 6904 (b) (1) (A), (B) or (C) of the New York Insurance Law (without regard to clause (J) thereof) as in effect on the Effective Date and issued by the United States of America, a state thereof or the District of Columbia, a municipality or governmental unit or other political subdivision of the foregoing or any public agency or instrumentality, in any event to the extent that the payment of principal thereof and/or interest thereon, is insured, reinsured or otherwise guaranteed by the Borrower.

Insured Obligation. ’ means any note, bond, debenture, or other obligation issued under subsection (c) or

Examples of Insured Obligation in a sentence

• This Policy does not insure against loss of any prepayment or other acceleration payment which at any time may become due in respect of any Insured Obligation, other than at the sole option of Ambac, nor against any risk other than Nonpayment, including failure of the Trustee to make any payment due Holders of Insured Amounts.

• Such payments of principal or interest shall be made only upon presentation of an instrument of assignment in form and substance satisfactory to Ambac, transferring to Ambac all rights under such Insured Obligations to receive the principal of and interest on the Insured Obligation.

• The Note Policy does not insure against loss of any prepayment or other acceleration payment which at any time may become due in respect of any Insured Obligation (as defined in the Note Policy), other than at the sole option of the Insurer, nor against any risk other than Nonpayment (as defined in the Note Policy), including failure of the Indenture Trustee to remit any Policy Claim Amounts or Scheduled Payments due to Holders.

• Upon delivery by the Agent to the Borrower of any such notice with respect to an Insured Obligation, such Insured Obligation shall, effective upon delivery of such notice by the Agent to the Borrower, be excluded from the Covered Portfolio.

• The investments in the defeasance escrow relating to Insured Obligation shall be limited to non-callable, direct obligations of the United States of America and securities fully and unconditionally guaranteed as to the timely payment of principal and interest by the United States of America, or as otherwise maybe authorized under State law and approved by BAM.

More Definitions of Insured Obligation

Insured Obligation means, with respect to any Policy, the "Insured ------------------ Obligation" as defined in such Policy.

Insured Obligation means (a) municipal obligation ------------------ bonds, special revenue bonds and industrial development bonds hereof issued by the United States of America, a state thereof or the District of Columbia, a municipality or governmental unit or other political subdivision of the foregoing or any public agency or instrumentality thereof, and (b) other obligations which the Majority Banks have approved in writing, in each case to the extent that the payment of principal thereof, together with interest thereon, is insured, reinsured or otherwise guaranteed by MBIA under an Insurance Contract in compliance with the applicable provisions of the New York Insurance Law.

Insured Obligation means the Banc of America Mortgage Securities, Inc. Mortgage Pass-Through Trust 2005-2 Mortgage Pass-Through Certificates, Series 2005-2, $16,025,000 Class 1-A-2 Certificates.

Insured Obligation means the Notes.

Insured Obligation means the Revolving Home Equity Loan Asset Backed Notes, Series 2005-J, Class 1-A Notes issued under the Indenture.

Insured Obligation means the Banc of America Funding Corporation, Banc of America Funding 2005-4 Trust Mortgage Pass-Through Certificates, Series 2005-4, $14,822,000 Class A Certificates.

Insured Obligation. The Guarantee, dated as of January 9, 2003, by the Merrill Lynch Core Principal Protected Fund (the "Xxxx"), a series of Merrill Lynch Principal Protected Trust (txx "Xxxsx"), in favor of the holders of Class A, Class B, Class C, and Class D Shares (the "Shareholders") of the Fund.