Common use of Monitor Bond Insurer and Program Rating Changes Clause in Contracts

Monitor Bond Insurer and Program Rating Changes. i. If a municipal bond carries bond insurance or is supported by a state program, e.g., a school bond enhancement program, a rating change applied to such insurer or program requires an Event Notice be filed for all bonds that are supported by that insurance or program.

Monitor Bond Insurer and Program Rating Changes. i. If a municipal bond carries bond insurance insurer or is supported by a state program, e.g., a school bond enhancement program, is affected by a rating change applied to such insurer or program requires an Event Notice be filed for change, then all the bonds that are supported by carry that insurance or programparticipate in that program will undergo a rating change, too. We monitor these types of rating changes, determine which, if any, of our clients are affected, and file the appropriate Event notices.