Primary Insurance Policy definition

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

Primary Insurance Policy. A policy of primary mortgage guaranty insurance issued by a Qualified Insurer.

Primary Insurance Policy. Each primary policy of mortgage guaranty insurance or any replacement policy therefor referred to in Section 5.15 hereof.

Examples of Primary Insurance Policy in a sentence

• Notwithstanding the foregoing, the Servicer shall have no obligation to maintain any Primary Insurance Policy for a Mortgage Loan for which the outstanding Principal Balance thereof at any time subsequent to origination was 80% or less of the Appraised Value of the related Mortgaged Property, unless required by applicable law.

• The Servicer shall use commercially reasonable efforts to keep in full force and effect each Primary Insurance Policy (except any Special Primary Insurance Policy) required with respect to a Mortgage Loan until no longer required, and the Servicer shall use commercially reasonable efforts to keep in full force and effect each Special Primary Insurance Policy, if any.

• All provisions of such Primary Insurance Policy have been and are being complied with, such policy is in full force and effect, and all premiums due thereunder have been paid.

• The Master Servicer shall use commercially reasonable efforts to keep, or to cause the Servicers to keep, in full force and effect each Primary Insurance Policy (except any Special Primary Insurance Policy) required with respect to a Mortgage Loan until no longer required, and the Master Servicer shall use commercially reasonable efforts to keep in full force and effect each Special Primary Insurance Policy, if any.

• Notwithstanding the foregoing, the Master Servicer shall have no obligation to maintain any Primary Insurance Policy for a Mortgage Loan for which the outstanding Principal Balance thereof at any time subsequent to origination was 80% or less of the Appraised Value of the related Mortgaged Property, unless required by applicable law.

More Definitions of Primary Insurance Policy

Primary Insurance Policy. Mortgage guaranty insurance, if any, on an individual Mortgage Loan, as evidenced by a policy or certificate.

Primary Insurance Policy. Each primary policy of mortgage insurance in effect with respect to a Mortgage Loan and as so indicated on the Mortgage Loan Schedule, or any replacement policy therefor obtained by the Servicer pursuant to Section 5.08.

Primary Insurance Policy. Each primary policy of mortgage guaranty insurance or any replacement policy therefor referred to in Section 2.03(b)(iv) and (v). Principal Only Certificates: A Class of Certificates not entitled to payments of interest, and more specifically designated as such in the Series Supplement.

Primary Insurance Policy. Each primary policy of mortgage guaranty insurance as indicated on Exhibit F-1 and Exhibit F-2 with the exception of either code "23" or "96" under the column "MI CO CODE".

Primary Insurance Policy. Each primary policy of mortgage guaranty insurance as indicated by a numeric code on the Mortgage Loan Schedule with the exception of code "A23," "A34" or "A96" under the column "MI CO CODE."

Primary Insurance Policy. Each primary policy of mortgage guaranty insurance issued by a Qualified Insurer or any replacement policy therefor, including the Radian Lender-Paid PMI Policies.

Primary Insurance Policy. Each policy of primary mortgage guaranty insurance or any replacement policy therefor with respect to any Mortgage Loan. Principal Balance Schedules: Not applicable.