Note Guaranty Insurance Policy definition

Note Guaranty Insurance Policy or "Policy" means the Note Guaranty Insurance Policy dated the Closing Date issued by the Note Insurer with respect to the Class A Notes.
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Note Guaranty Insurance Policy means the financial guaranty insurance policy issued by Ambac insuring the payment when due of the principal of and interest on the Notes as and to the extent provided therein.
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Note Guaranty Insurance Policy shall have the meaning assigned thereto in the Sale and Servicing Agreement.
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Examples of Note Guaranty Insurance Policy in a sentence

  • On the Closing Date, the Note Insurer will issue a note guaranty insurance policy (the "Note Guaranty Insurance Policy") guaranteeing certain payments due in respect of the Class A Notes.

  • The Indenture Trustee and the Owner Trustee hereby acknowledge that the Note Guaranty Insurance Policy guarantees an amount equal to the Insured Payment (as defined therein); however no accelerated Insured Payment shall be made on any prepayment date or as a result of any acceleration on any early redemption unless at the sole option of the Note Insurer.

  • No optional redemption shall be permitted without the prior written consent of the Note Insurer if it would result in a draw on the Note Guaranty Insurance Policy.

  • For so long as any Note is outstanding and the Note Guaranty Insurance Policy is in effect, to the extent permitted by applicable law, the consent of the Note Insurer and the Indenture Trustee shall be obtained prior to taking any Bankruptcy Action by the Trust.

  • The Note Insurer with prior written notice to the Rating Agencies may exercise at any time its right to appoint as Successor Servicer a Person other than the Person serving as Indenture Trustee at the time, and (without limiting the Note Insurer's obligations under the Note Guaranty Insurance Policy with respect to the Class A Notes) shall have no liability to the Owner Trustee, the Indenture Trustee, COAF, any Noteholders or any other Person if it does so.

  • In addition, on or prior to the Closing Date, the Depositor shall cause the Insurer to deliver the Note Guaranty Insurance Policy to the Indenture Trustee.

  • All amounts paid by the Note Insurer under the Note Guaranty Insurance Policy shall be used solely for the payment of principal of and interest on the Class A Notes in accordance with the terms of the Note Guaranty Insurance Policy.

  • This Insurance and Indemnity Agreement and the Note Guaranty Insurance Policy set forth the entire agreement among the parties with respect to the subject matter thereof, and this Insurance and Indemnity Agreement supersedes and replaces any agreement or understanding that may have existed between the parties prior to the date hereof in respect of such subject matter.

  • Insured Payments shall be made only at the times set forth in this Note Guaranty Insurance Policy, and no accelerated Insured Payments will be made under this Note Guaranty Insurance Policy regardless of any acceleration of the Notes unless such acceleration of Insured Payments is at the sole option of Ambac.

  • STATEMENT OF INSURANCE OBLIGATIONS: $402,118,000 Home Equity Loan Trust 2006-HSA4 Home Equity Loan-Backed Term Notes, Series 2006-HSA4 and Home Equity Loan- Backed Variable Funding Notes, Series 2006-HSA4, in an amount not to exceed $113,548,512 MBIA Insurance Corporation (the "Insurer") has issued a Note Guaranty Insurance Policy (the "Policy") relating to the Obligations containing the following provisions, the Policy being on file at the Corporate Trust Office of the Indenture Trustee.


More Definitions of Note Guaranty Insurance Policy

Note Guaranty Insurance Policy. The Note Guaranty Insurance Policy (No. 38371) with respect to the Notes and all endorsements thereto, if any, dated the Closing Date, issued by the Insurer for the benefit of the Holders of the Notes, a copy of which is attached hereto as Exhibit F.
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Note Guaranty Insurance Policy means the Note Guaranty Insurance Policy issued by the Note Insurer to the Trustee for the benefit of the Holders of the Notes dated as of the date hereof.
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Note Guaranty Insurance Policy in Exhibit A thereto (the "Insurer Information") is limited and does not purport to provide the scope of disclosure required to be included in a prospectus for a registrant under the Securities Act of 1933, in connection with the public offer and sale of securities of such registrant. Within such limited scope of disclosure, the Insurer Information does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading.
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Related to Note Guaranty Insurance Policy

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

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

  • Insurance Policy With respect to any Mortgage Loan included in the Trust Fund, any insurance policy, including all riders and endorsements thereto in effect, including any replacement policy or policies for any Insurance Policies.

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

  • Insurance Policies has the meaning set forth in Section 3.16.

  • Company Insurance Policies has the meaning set forth in Section 4.15.

  • 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.

  • 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.

  • Hazard Insurance Policy means, with respect to each Contract, the policy of fire and extended coverage insurance (and federal flood insurance, if the Manufactured Home is secured by an FHA/VA Contract and such Manufactured Home is located in a federally designated special flood area) required to be maintained for the related Manufactured Home, as provided in Section 5.09, and which, as provided in said Section 5.09, may be a blanket mortgage impairment policy maintained by the Servicer in accordance with the terms and conditions of said Section 5.09.

  • Primary Insurance Policy Each policy of primary mortgage guaranty insurance or any replacement policy therefor with respect to any Mortgage Loan.

  • Bond Insurance Policy means the municipal bond insurance policy, if any, issued by the Bond Insurer that guarantees payment of principal of and interest on the Bonds and constitutes a Bond Facility under the Indenture.

  • Life Insurance Policy has the meaning given in Section 6.11.

  • Reimbursement insurance policy means a policy of insurance

  • Primary Mortgage Insurance Policy Any primary mortgage guaranty insurance policy issued in connection with a Mortgage Loan which provides compensation to a Mortgage Note holder in the event of default by the obligor under such Mortgage Note or the related Security Instrument, if any or any replacement policy therefor through the related Interest Accrual Period for such Class relating to a Distribution Date.

  • Environmental Insurance Policy means, with respect to any Mortgage Loan or the related Mortgaged Property or REO Property, any insurance policy covering pollution conditions and/or other environmental conditions that is maintained from time to time in respect of such Mortgage Loan, Mortgaged Property or REO Property, as the case may be, for the benefit of, among others, the Trustee on behalf of the Certificateholders.

  • 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.

  • Title Insurance Policy A title insurance policy maintained with respect to a Mortgage Loan.

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

  • Title Insurance Policies means, with respect to each Individual Property, an ALTA mortgagee title insurance policy in a form acceptable to Lender (or, if an Individual Property is in a State which does not permit the issuance of such ALTA policy, such form as shall be permitted in such State and acceptable to Lender) issued with respect to such Individual Property and insuring the lien of the Mortgage encumbering such Individual Property.

  • Credit property insurance means insurance:

  • Standard Hazard Insurance Policy means a fire and casualty extended coverage insurance policy in such amount and with such coverage as required by this Agreement.

  • Property Insurance is defined in Section 6.10(a).

  • Crew Insurances means insurances against crew risks which shall include but not be limited to death, sickness, repatriation, injury, shipwreck unemployment indemnity and loss of personal effects.

  • Casualty insurance means liability insurance.

  • Certificate Insurance Policy The Financial Guaranty Insurance Policy No. CA01172A, and all endorsements thereto dated the Closing Date, issued by the Certificate Insurer for the benefit of the Class AF-3 Certificateholders.

  • Special Primary Insurance Premium With respect to any Special Primary Insurance Policy, the monthly premium payable thereunder. Statutory Trust Statute: Chapter 38 of Title 12 of the Delaware Code, 12 Del.C. §3801 et seq., as the same may be amended from time to time.