MBIA Sample Clauses
The MBIA clause typically refers to provisions involving the Municipal Bond Insurance Association or similar entities, often in the context of financial agreements or bond issuances. This clause outlines the rights, obligations, or protections afforded to parties when MBIA acts as an insurer or guarantor for municipal bonds, such as specifying procedures in the event of default or detailing the insurer's role in payment flows. Its core practical function is to clarify the involvement of MBIA in the transaction, thereby allocating risk and ensuring that all parties understand the protections and processes in place if the insured bonds encounter financial difficulties.
MBIA. MISC agrees to indemnify and hold harmless the Fund from all taxes, charges, expenses, assessments, claims, liabilities (including, without limitation, liabilities arising under the Securities Laws, and any state and foreign securities and blue sky laws, and amendments thereto) and expenses (including without limitation reasonable attorneys' fees and disbursements) arising directly or indirectly out of MBIA-MISC's or its directors', officers', employees', agents' and representatives' willful misfeasance, bad faith, negligence or reckless disregard of its duties and obligations under this Agreement.
MBIA. The Monoline Claims held by MBIA shall be fully and finally allowed as non-subordinated unsecured claims of $719.0 million against the ResCap Debtors, $1,450.0 million against the GMACM Debtors, and $1,450.0 million against the RFC Debtors.
MBIA. MISC agrees to indemnify and hold harmless the Trust from all taxes, charges, expenses, assessments, claims and liabilities arising from MBIA-MISC obligations pursuant to this Agreement (including, without limitation, liabilities arising under the Securities Laws, and any state and foreign securities and blue sky laws, and amendments thereto) and expenses, including (without limitation) reasonable attorneys' fees and disbursements arising directly or indirectly out of MBIA-MISC's or its directors', officers', employees', agents' and representatives' own willful misfeasance, bad faith, negligence or reckless disregard of its duties and obligations under this Agreement.
MBIA. MISC and the Trust shall regularly consult with each other regarding MBIA-MISC's performance of its obligations and its compensation under the foregoing provisions. In connection therewith, the Trust shall submit to MBIA-MISC at a reasonable time in advance of filing with the SEC copies of any amended or supplemented registration statement of the Trust (including exhibits) under the 1933 Act, and the 1940 Act, and, a reasonable time in advance of their proposed use, copies of any amended or supplemented forms relating to any plan, program or service offered by the Trust. Any change in such materials that would require any change in MBIA-MISC's obligations under the foregoing provisions shall be subject to the burdened party's approval, which shall not be unreasonably withheld. In the event that a change in such documents or in the procedures contained therein increases the cost to MBIA-MISC of performing its obligations hereunder by more than an insubstantial amount, MBIA-MISC shall be entitled to receive reasonable compensation therefor.