Residual Value Insurance Policy definition

Residual Value Insurance Policy means Residual Value Insurance Policy number RVI 97001 issued effective October 1, 1996 by Toyota Motor Insurance Corporation of Vermont, in favor of the Titling Trust and naming TMCC as additional insured and reinsured by RVI Guaranty Co., Ltd.
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Residual Value Insurance Policy means that certain Residual Value Insurance Policy number [___] issued effective November [ ], 1998 by the RV Insurer, in favor of the Servicer, the Transferor, the Indenture Trustee, the Owner Trustee, the Origination Trustee and ALF LP.
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Residual Value Insurance Policy. With respect to any Credit Lease Loan that is also a Balloon Mortgage Loan, an insurance policy that insures the payment of the related Balloon Payment to the extent that the related Mortgaged Property cannot be sold for such amount at stated maturity because of changes in market conditions.
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Examples of Residual Value Insurance Policy in a sentence

  • Further, the Servicer shall provide each Rating Agency prior notice of the content of any proposed amendment, modification or waiver of the terms of the Residual Value Insurance Policy, whether or not such action requires the approval of any Rating Agency.

  • All Liquidation Proceeds and Insurance Proceeds (other than proceeds of the Residual Value Insurance Policy) shall be deposited and transferred as provided in Section 4.02 of this 1997-A Servicing Supplement.

  • The Servicer has made no material misrepresentations to the RV Insurer regarding any matter in the process of arranging for and negotiating the terms of the Residual Value Insurance Policy.

  • The Company hereby cedes to the Reinsurer on a quota share basis, and the Reinsurer hereby assumes from the Company on a quota share basis, 100% of the liability of the Company under the Residual Value Insurance Policy entered into between the Company (as insurer) and World Omni Financial Corporation (as insured) (the “Original Insured”), a copy of which is attached hereto as Annex A (as the same may be amended, modified or assigned in accordance with the terms hereof, the “Policy”).

  • Xxxxxxxx Title: Vice President This Amended and Restated Residual Value Insurance Policy (this “Policy”) amends and restates in its entirety the Residual Value Insurance Policy dated as of December 29, 1999 entered into by and between the Insured and the Insurer.

  • By: Name: Title: [REINSURER] By: Name: Title: [insert date] [insert name and address of Reinsurer] Re: Cut-Through Endorsement to the Reinsurance Agreement between Westchester Fire Insurance Company (the “Company”) and [insert name of reinsurer] (the “Reinsurer”) dated as of [insert date] in respect of the Residual Value Insurance Policy issued by the Company to Chase Manhattan Automotive Finance Corporation (the “Insured”) with an effective date of December 31, 2000 (the “Policy”).

  • Any legal fees incurred in connection with a resolution of such termination of a Lease Enhancement Policy or a Residual Value Insurance Policy shall be paid by the Master Servicer and shall be reimbursable to it as a Trust Fund expense (to the extent not required to be paid, and not actually paid, by the related Mortgagor under the applicable Mortgage Loan documents).

  • Chase Manhattan Automotive Finance Corporation 000 Xxxxxxx Xxxxxx Garden City, New York 11530 Covered Policy: Residual Value Insurance Policy effective as of December 31, 2000 issued by the Company to the Original Insured, a copy of which is attached hereto as Exhibit A.

  • In the event that the Master Servicer receives notice of any termination of a Lease Enhancement Policy or a Residual Value Insurance Policy, the Master Servicer shall, within three Business Days after receipt of such notice, notify the Rating Agencies and the Trustee of such termination in writing.

  • In the event that the Master Servicer has actual knowledge of any event (an "Insured Event") giving rise to a claim under any Lease Enhancement Policy or Residual Value Insurance Policy, the Master Servicer shall prepare and file a "proof of loss" form with the appropriate insurer within five Business Days after receiving notice of any Insured Event under any such policy and shall diligently process any claims under such policy in accordance with the Servicing Standard.


More Definitions of Residual Value Insurance Policy

Residual Value Insurance Policy means that certain Residual Value Insurance Policy number 7180161 issued on May 1, 1995, by Agricultural Excess & Surplus Insurance Company, in favor of World Omni Financial Corp.
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Residual Value Insurance Policy. Additional Document Provisions" and "The Class A Interest Rate Cap", insofar as such statements purport to summarize certain terms or provisions of the SUBI, the Notes and the Transferor Certificate, the Basic Documents, the Residual Value Insurance Policy, the Contingent and Excess Liability Insurance Policies and the Class A Interest Rate Cap, provide a fair summary of such provisions, and the statements in the Prospectus under "The Origination Trust--Allocation of Origination Trust Liabilities", "Risk Factors-- Possible Effects of Consumer Protection Laws", "--Possible Liens to Satisfy ERISA Liabilities", "--Possible Liability as a Result of Lessee's Operation of Leased Vehicles" and "--Possible Effects of Insolvency or Bankruptcy of World Omni, the Transferor, Auto Lease Finance L.P. or Their General Partners, the Origination Trust or the Trust, "Additional Document Provisions", "Certain Legal Aspects of the Origination Trust and the SUBI", "Certain Legal Aspects of the Contracts and the Leased Vehicles" and "ERISA Considerations", to the extent that they constitute matters of law, summaries of legal matters, documents or proceedings or legal conclusions relating to U.S. federal law or the laws of the States of Florida, Georgia or North Carolina have been prepared or reviewed by such counsel and are correct in all material respects.
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Residual Value Insurance Policy means, with respect to any CTL Loan that is also a Balloon Mortgage Loan, an insurance policy that insures the payment of the related Balloon Payment to the extent that the related Mortgaged Property cannot be sold for such amount at stated maturity because of changes in market conditions.
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Residual Value Insurance Policy means Residual Value Insurance Policy number _______________ issued on _______________ by ________________, in favor of TMCC and naming the Titling Trust as additional insured.
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Residual Value Insurance Policy. A Residual Value Insurance Policy substantially in one of the forms attached hereto as Exhibit K with respect to certain of the Corporate Lease Loans and the related Mortgaged Properties issued by a Residual Value Insurer, naming the Trustee as loss payee and providing, with respect to such Mortgaged Property, in the event of failure by the Mortgagor to pay a related Balloon Payment, for payment in respect of such Corporate Lease Loan.
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Residual Value Insurance Policy. A non-cancelable residual value insurance policy that guaranties the Balloon Payment on each insured Balloon Mortgage Loan issued by a residual value insurer.
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Related to Residual Value Insurance Policy

  • 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.

  • 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.

  • Cash Value Insurance Contract means an Insurance Contract (other than an indemnity reinsurance contract between two insurance companies) that has a Cash Value greater than $50,000.

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

  • 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.

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

  • FHA Mortgage Insurance Contract means the contractual obligation of the FHA respecting the insurance of a Mortgage Loan.

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

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

  • 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.

  • Mortgage Insurance means insurance protecting Lender against the nonpayment of, or default on, the Loan.

  • Insurance Report means an insurance report in respect of the Insurances confirming that such Insurances are placed with such insurers, insurance companies and/or clubs in such amounts, against such risks and in such form as acceptable to the Agent (acting on the instructions from the Finance Parties) and comply with the requirements under Clause 26.3 (Insurance) and the GIEK Guarantee prepared by Bank Assure Insurance Services Inc., or such other reputable insurance advisor approved by the Agent, and dated on or about 11 June 2010 and addressed to, and capable of being relied upon by, the Finance Parties.

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

  • 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.

  • Health-care-insurance receivable means an interest in or claim under a policy of insurance which is a right to payment of a monetary obligation for health-care goods or services provided.

  • FHA Mortgage Insurance means, mortgage insurance authorized under the National Housing Act, as amended from time to time, and provided by the FHA.

  • 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.

  • 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.

  • 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.

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

  • policy of life insurance means any instrument by which the payment of money is assured on death (except death by accident only) or the happening of any contingency dependent on human life, or any instrument evidencing a contract which is subject to payment of premiums for a term dependent on human life;

  • 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.

  • Primary Mortgage Insurance Insurance obtained from a Primary Mortgage Insurer which insures the holder of a Mortgage Note against loss in the event the related Borrower defaults under such Mortgage Note or the related Security Instrument, including all riders and endorsements thereto.

  • Underlying insurance means the DESIGNATED UNDERLYING POLICY and all insurances affording professional liability insurance coverage to any INSURED hereunder which are considered to be primary to this insurance, including without limitation, any such mandatory insurance coverage afforded any INSURED by any law society or other program, and any such non-mandatory insurances purchased as coverage or primary to (beneath) this POLICY coverage, but in no case shall include any insurance specifically acquired and stated to be in excess of this POLICY. Signed on behalf of Lawyers’ Professional Indemnity CompanyDaniel E. PinningtonDaniel E. PinningtonPresident and Chief Executive Officer Endorsement No . 1pollutIon exClusIonThis POLICY, subject to all its terms and conditions not in conflict with this endorsement, and further to Part III Exclusion (g), shall include the following:This insurance does not apply to:(a) damage arising out of the actual, alleged or threatened discharge, seepage, dispersal, release or escape of pollutants:

  • Insurance Schedule means Schedule 3 attached hereto.

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