Common use of Rights and Obligations of Note Insurer Clause in Contracts

Rights and Obligations of Note Insurer. If the Aggregate Outstanding Principal Balance of the Class A Notes shall be reduced to zero and all Class A Note Interest due and owing to the Class A Noteholders has been paid in full and all Reimbursement Obligations and reimbursement for all Swap Termination Payments paid under the Swap Policy to the Note Insurer shall have been paid in full, the Indenture Trustee shall give written notice of such events to the Rating Agencies and the Note Insurer and any references herein to notices to and rights and obligations of the Note Insurer shall be extinguished and of no further effect except those rights otherwise expressly provided herein as continuing.

Rights and Obligations of Note Insurer. If the Aggregate Outstanding Principal Balance of the Class A Notes shall be reduced to zero and all Class A Note Interest due and owing to the Class A Noteholders has been paid in full and all Reimbursement Obligations and reimbursement for all Swap Termination Payments paid under the Swap Policy to the Note Insurer shall have been paid in full, the Indenture Trustee shall give written notice of such events to the Rating Agencies and the Note Insurer and any references herein to notices to and rights and obligations of the Note Insurer shall be extinguished and of no further effect except those rights otherwise expressly provided herein as continuing.