Issuance of Ratings. The Insurer shall have received confirmation that the risk secured by the Note Policy constitutes a "BBB" risk by S&P and a "Baa2" risk by Xxxxx'x and that the Notes, when issued, will be rated "AAA" by S&P and "Aaa" by Xxxxx'x (or A-1+ by S&P and P-1 by Xxxxx'x in the case of the Class A-1 Notes);
Appears in 4 contracts
Samples: Insurance and Indemnity Agreement (Ikon Receivables LLC), Insurance and Indemnity Agreement (Ikon Receivables LLC), Insurance and Indemnity Agreement (Ikon Receivables LLC)
Issuance of Ratings. The Insurer shall have received confirmation that the risk secured by the Note Policy constitutes at least a "BBB" risk by S&P and at least a "Baa2" risk by Xxxxx'x and that the Notes, when issued, will be rated "AAA" by S&P and "Aaa" by Xxxxx'x (or A-1+ by S&P and P-1 by Xxxxx'x in the case of the Class A-1 Notes)Xxxxx'x, respectively;
Appears in 2 contracts
Samples: Insurance and Indemnity Agreement (Origen Manufactured Housing Contract Trust Collateralized Notes, Series 2006-A), Insurance and Indemnity Agreement (Origen Residential Securities, Inc.)
Issuance of Ratings. The Insurer shall have received confirmation that the risk secured by the Note Policy constitutes a "BBB" risk by S&P and a "Baa2" risk by Xxxxx'x and that the Notes, when issued, will be rated "AAA" by S&P and "Aaa" by Xxxxx'x (or A-1+ by S&P and P-1 by Xxxxx'x in the case of the Class A-1 Notes);
Appears in 2 contracts
Samples: Insurance and Indemnity Agreement (Ikon Receivables LLC), Insurance and Indemnity Agreement (Ikon Receivables Funding LLC)
Issuance of Ratings. The Insurer shall have received confirmation that the risk secured by the Note Policy constitutes at least a "“BBB" ” risk by S&P and at least a "“Baa2" ” risk by Xxxxx'x Mxxxx’x and that the Notes, when issued, will be rated "“AAA" ” by S&P and "“Aaa" ” by Xxxxx'x (or A-1+ by S&P and P-1 by Xxxxx'x in the case of the Class A-1 Notes)Mxxxx’x, respectively;
Appears in 1 contract
Samples: Insurance and Indemnity Agreement (Indymac Abs Inc)
Issuance of Ratings. The Insurer shall have received confirmation that the risk secured by the Note Policy constitutes at least a "“BBB" ” risk by S&P and at least a "“Baa2" ” risk by Xxxxx'x Xxxxx’x and that the Class A Notes, when issued, will be rated "“AAA" ” by S&P and "“Aaa" ” by Xxxxx'x (or A-1+ by S&P and P-1 by Xxxxx'x in the case of the Class A-1 Notes)Xxxxx’x, respectively;
Appears in 1 contract
Samples: Insurance and Indemnity Agreement (Indymac MBS Inc)
Issuance of Ratings. The Insurer shall have received confirmation that the risk secured by the Note Policy Policies constitutes a "BBB" risk by S&P and a "Baa2" risk by Xxxxx'x and that the Notes, when issued, will be rated "AAA" by S&P and "Aaa" by Xxxxx'x (or A-1+ by S&P and P-1 by Xxxxx'x in the case of the Class A-1 Notes);
Appears in 1 contract
Samples: Insurance and Indemnity Agreement (Ikon Receivables Funding LLC)
