Security Insurer Defense Costs definition

Security Insurer Defense Costs means all costs and expenses of the Security Insurer (including costs and expenses of the Owner Trustee that the Security Insurer may have paid) in connection with any action, proceeding or investigation that could materially adversely affect the Trust or the Owner Trust Estate or the rights or obligations of the Security Insurer under any of the Basic Documents or under the Note Policy, including, without limitation, any judgment or settlement entered into affecting the Security Insurer or the Security Insurer’s interests, together with interest thereon at a rate equal to the Base Rate (as defined in the Insurance Agreement) from time to time in effect plus 1%; provided, however, that the Security Insurer Defense Costs shall not constitute a claim against the Trust.
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Examples of Security Insurer Defense Costs in a sentence

  • Each of the Issuer, Seller, Franklin Capital (in its individual capacity and as Servicer) and Franklin Resources (in its individual capacity and as Representative) acknowledge Section 4.6 of the Trust Agreement, and agree that the Trust shall reimburse the Security Insurer for all Security Insurer Defense Costs pursuant to Section 5.6(a) hereof.

Related to Security Insurer Defense Costs

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

  • 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.

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

  • Liability Insurance means compulsory professional liability errors and omissions insurance required by a governing body;

  • General Liability Insurance Subcontractor shall carry minimum primary General Liability Insurance for the following amounts:

  • Fidelity Insurance means insurance coverage with respect to employee errors, omissions, dishonesty, forgery, theft, disappearance and destruction, robbery and safe burglary, property (other than money and securities) and computer fraud in an aggregate amount acceptable to Seller’s regulators.

  • Professional liability insurance means insurance against legal liability incident to the practice of a profession and provision of a professional service.

  • Medical malpractice insurance means insurance against legal liability incident to the practice and provision of a medical service other than the practice and provision of a dental service.

  • 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.

  • Guaranteed automobile protection insurance means insurance offered in

  • 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.

  • First party insurance means an insurance policy or contract in which the insurer

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

  • 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.

  • Sum Insured means the sum as specified in the Schedule to this Policy against the name of Insured / each Insured Person, which sum represents the Company's maximum liability for any or all claims under this Policy during the Policy period for the respective benefit(s) against which the sum is mentioned in the Schedule to this Policy.

  • Primary insurance means the policies listed in this policy’s Umbrella Schedule.

  • 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.

  • Reimbursement insurance policy means a policy of insurance

  • Errors and Omissions Insurance Policy means an errors and omissions insurance policy maintained by the Master Servicer, the Special Servicer, the Trustee, the Custodian or the Certificate Administrator, as the case may be, in accordance with Section 8.2, Section 9.2 and Section 7.17, respectively.

  • 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.

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

  • group insurance means blanket insurance and franchise insurance and any other forms of group insurance.

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

  • Medical malpractice judgment means any final order of any court entering judgment against a

  • Casualty insurance means liability insurance.