Common use of The Certificate Insurer Clause in Contracts

The Certificate Insurer. The Certificate Insurer is a third-party beneficiary of this Agreement. Any right conferred to the Certificate Insurer shall be suspended during any period in which the Certificate Insurer is in default in its payment obligations under the Certificate Insurance Policies. During any period of suspension the Certificate Insurer's rights hereunder shall vest in the Owners of the Class A Certificates and shall be exercisable by the Owners of at least a majority in Percentage Interest of the Class A Certificates then Outstanding. At such time as the Class A Certificates are no longer Outstanding hereunder and the Certificate Insurer has been reimbursed for all Insured Payments to which it is entitled hereunder, the Certificate Insurer's rights hereunder shall terminate.

The Certificate Insurer. The Certificate Insurer is a third-party beneficiary of this Agreement. Any right conferred to the Certificate Insurer shall be suspended during any period in which the Certificate Insurer is in default in its payment obligations under the Certificate Insurance PoliciesPolicy. During any period of suspension the Certificate Insurer's rights hereunder shall vest in the Owners Holders of the Class A Investor Certificates and shall be exercisable by the Owners Holders of at least a majority in Percentage Interest of the Class A Certificates then Outstandingoutstanding Investor Certificates. At such time as the Class A Investor Certificates are no longer Outstanding outstanding hereunder and the Certificate Insurer has been reimbursed for all Insured Payments to which it is entitled hereunderhereunder and has been paid all Premium Amounts due and owing under the Insurance Agreement, the Certificate Insurer's rights hereunder shall terminate.

The Certificate Insurer. The Certificate Insurer is a third-party beneficiary of this Agreement. Any right conferred to the Certificate Insurer shall be suspended during any period in which the Certificate Insurer is in default in its payment obligations under the Certificate Insurance PoliciesPolicy. During any period of suspension the Certificate Insurer's rights hereunder shall vest in the Owners Holders of the Class A Certificates and shall be exercisable by the Owners of at least a majority in Certificateholders evidencing Percentage Interest Interests aggregating not less than 51% of the Class A Certificates then Outstandingoutstanding Certificates. At such time as the Class A Certificates are no longer Outstanding outstanding hereunder and the Certificate Insurer has been reimbursed for all Insured Payments to which it is entitled hereunderhereunder and has been paid all Premium Amounts due and owing under the Insurance Agreement, the Certificate Insurer's rights hereunder shall terminate.