NIMs Insurer Default definition

NIMs Insurer Default. As defined in Section 10.13.
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NIMs Insurer Default. The existence and continuation of any default by the NIMS Insurer (including a failure by the NIMS Insurer to make a payment) under an insurance policy or policies issued in connection with the Indenture.
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NIMs Insurer Default. The continuance of any failure by the NIMS Insurer, if any, to make a required payment under the policy insuring the net interest margin securities.
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Examples of NIMs Insurer Default in a sentence

  • The Holders of a majority of Note Balances of the Notes (with the written consent of the NIMs Insurer, except after a NIMs Insurer Default) may remove the Indenture Trustee or the Securities Administrator by so notifying the Indenture Trustee or the Securities Administrator, as applicable, and may appoint a successor Indenture Trustee or Securities Administrator.

  • Upon the occurrence and continuance of a NIMs Insurer Default, any right of the NIMs Insurer, respectively, to take or cause another person to take any action or give any consent, approval or waiver under this Agreement shall be suspended (except as otherwise specifically provided herein).


More Definitions of NIMs Insurer Default

NIMs Insurer Default. A default by each of the NIMs Insurers as such default is defined in the Indenture.
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NIMs Insurer Default. A default by each of the one or more insurers that is guaranteeing certain payments under any NIM Notes of its obligations under the agreements setting forth their respective obligations.
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NIMs Insurer Default. Not applicable.
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Related to NIMs Insurer Default

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

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

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

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

  • NIMS Insurer Any insurer that is guaranteeing certain payments under notes secured by collateral which includes, among other things, all or a portion of the Class CE Certificates, the Class P Certificates and/or the Residual Certificates.

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

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

  • Servicer Default means an event specified in Section 8.01.

  • Servicing Default The meaning assigned in Section 6.01 of the Servicing Agreement.

  • Swap Default Any of the circumstances constituting an “Event of Default” under the Swap Agreement.

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

  • Companion Loan Rating Agency With respect to any Serviced Companion Loan, any rating agency that was engaged by a participant in the securitization of such Serviced Companion Loan to assign a rating to the related Serviced Companion Loan Securities.

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

  • Liquidity Provider Ratings Event means the Liquidity Provider shall fail to maintain at any time short-term debt ratings in one of the two highest ratings categories from the Requisite NRSROs or, if applicable, such other short-term debt ratings as may be required for the VRDP Shares to satisfy the eligibility criteria under Rule 2a-7 under the 1940 Act.

  • Indenture Default means, with respect to any Indenture, any Event of Default (as such term is defined in such Indenture) thereunder.

  • Companion Loan Rating Agency Declination As defined in the definition of “Companion Loan Rating Agency Confirmation” in this Agreement.

  • Note Event of Default means any “Event of Default” specified in Section 5.1 of the Indenture.

  • Collateral Event of Default has the meaning set forth in Section 13.01(b).

  • Bank Default means (i) the refusal (which has not been retracted) of a Bank to make available its portion of any Borrowing or to fund its portion of any unreimbursed payment under Section 2.03(c) or (ii) a Bank having notified in writing the Borrower and/or the Agent that it does not intend to comply with its obligations under Section 1.01 or Section 2, in the case of either clause (i) or (ii) as a result of any takeover of such Bank by any regulatory authority or agency.

  • Loan Event of Default means any of the events specified in Section 5.1 of the Loan Agreement, provided that any requirement for the giving of notice, the lapse of time, or both, or any other condition, event or act has been satisfied.

  • Liquidity Provider Ratings Event Termination Date means the date established by the Tender and Paying Agent, acting upon instructions of the Fund pursuant to the Tender and Paying Agent Agreement, for termination of the VRDP Purchase Agreement upon the occurrence of a Liquidity Provider Ratings Event, which date shall be not less than 16 days nor more than 30 days following such Liquidity Provider Ratings Event.

  • Senior Default means any Senior Payment Default or Senior Covenant Default.

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

  • Administrator Default has the meaning specified in Section 5.1 of the Administration Agreement.

  • Master Servicer Event of Termination As defined in Section 7.01 hereof.