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.

Residual Value Insurance Policy means that certain Residual Value Insurance Policy number __________ issued effective __________, 1997 by the RV Insurer, in favor of the Servicer, the Transferor, the Indenture Trustee, the Owner Trustee, the Origination Trustee and ALFI LP.

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.

Examples of Residual Value Insurance Policy in a sentence

• 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.

• 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.

• 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.

• 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.

• 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).

• 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”).

• 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.

• 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”).

• If any proceeds of the Residual Value Insurance Policy or any other residual value insurance policies applicable to the 1999-A Leased Vehicles and the 1999-A Contracts are deposited in any SUBI Account, or another account maintained by the Origination Trustee, the 1999-A Owner Trustee or the 1999-A Indenture Trustee, such amounts shall be distributed to the Servicer by the Origination Trustee, the 1999-A Owner Trustee or the 1999-A Indenture Trustee, as applicable, on the succeeding Distribution Date.

More Definitions of Residual Value Insurance Policy

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.

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.

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.

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.

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.

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.