Common use of Note Insurer Default Clause in Contracts

Note Insurer Default. Any right conferred to the Note Insurer, including, without limitation, the right to receive the Premium Amount shall be suspended during any period in which a Note Insurer Default exists. At such time as the Securities are no longer outstanding hereunder, and no amounts owed to the Note Insurer hereunder or under the Insured Amount remain unpaid, the Note Insurer's rights hereunder shall terminate.

Note Insurer Default. [Any right conferred to the Note Insurer, including, without limitation, the right to receive the Premium Amount shall be suspended during any period in which a Note Insurer Default exists. At such time as the Securities are no longer outstanding hereunder, and no amounts owed to the Note Insurer hereunder or under the Insured Amount remain unpaid, the Note Insurer's rights hereunder shall terminate.]