Notice of Nonpayment definition

Notice of Nonpayment means the notice, substantially in the form of Exhibit A hereto, delivered pursuant to this Policy and sent to the contact person at the address and/or fax numbers set forth in the Policy specifying the Insured Amount which shall be due and owing to the Class G Trustee (or the Paying Agent) for distribution to the Class G Certificateholders or, if applicable, the Escrow Receiptholders on the applicable Distribution Date.

Notice of Nonpayment. The notice to be delivered by the Trustee to MBIA with respect to any date as to which a claim for an Insured Payment shall be made, which shall be in the form attached to the Policy.

Notice of Nonpayment has the meaning given to such term in the Policy.

Examples of Notice of Nonpayment in a sentence

• In the event the fees are not paid, this approval shall terminate automatically upon recording of a Notice of Nonpayment by the Town.

• The notice shall be confirmed to the Credit Enhancer in writing in the form of the Notice of Nonpayment and Demand for Payment of Insured Amounts in Exhibit A to the Policy, by 10:00 A.M., New York City time, on the second Business Day before the Payment Date.

• The Trustee’s responsibility for delivering a Notice of Nonpayment to the Certificate Insurer, as provided in the preceding sentence, is limited to the availability, timeliness and accuracy of the information provided to it by the Master Servicer.

• The notice shall be confirmed to the Credit Enhancer in writing in the form of the Notice of Nonpayment and Demand for Payment of Insured Amounts in Exhibit A to the Policy, by 10:00 a.m., New York City time, on the second Business Day before the Payment Date.

• In the event the fees are not paid, this permit shall terminate automatically upon recording of a Notice of Nonpayment by the Town.

More Definitions of Notice of Nonpayment

Notice of Nonpayment means the telephonic or telegraphic notice, promptly confirmed in writing by telecopy substantially in the form attached to the Bond Insurance Policy, the original of which is subsequently delivered by registered or certified mail, from the Trustee specifying the Insufficiency Amount which shall be due and owing on the Payment Date.

Notice of Nonpayment. The notice to be delivered by the Trust Administrator to Ambac with respect to any Distribution Date as to which there is a Class A-3 Distribution Deficiency, which shall be in the form attached to the Policy.

Notice of Nonpayment. The notice to be delivered by the Trustee to Assured Guaranty with respect to any date as to which a claim for an Insured Amount shall be made, which shall be in the form attached to the Policy.

Notice of Nonpayment. The notice to be delivered by the Trust Administrator to Financial Security with respect to any Distribution Date as to which there is a Class A-12 Distribution Deficiency, which shall be in the form attached to the Policy.

Notice of Nonpayment means the form by which a claimant is notified of charges denied by the organization which are the claimant's personal responsibility.

Notice of Nonpayment. The notice to be delivered by the Trustee to the Class 2-A3 Certificate Insurer with respect to any Distribution Date pursuant to Section 5.06(a), which shall be in the form attached to the Class 2-A3 Certificate Insurance Policy.

Notice of Nonpayment has the meaning specified in the Policy.