The Note Insurer. Any right conferred to the Note Insurer hereunder shall be suspended and shall run to the benefit of the Owners during any period in which there exists a Note Insurer Default; provided, that the right of the Note Insurer to receive the Premium Amount shall not be suspended if such Note Insurer Default was a default other than a default under clause (a) of the definition thereof. At such time as the Notes are no longer Outstanding hereunder and the Note Insurer has received all Reimbursement Amounts, the Note Insurer's rights hereunder shall terminate.
The Note Insurer. Any right conferred to the Note Insurer hereunder shall be suspended during any period in which the Note Insurer is in default in its payment obligations under the Debt Service Reserve Surety Bond or the Note Insurance Policy. At such time as the Notes are no longer outstanding hereunder, and no amounts owed to the Note Insurer hereunder, under the Insurance Agreement and under the Financial Guaranty Agreement remain unpaid, the Note Insurer's rights hereunder shall terminate.
The Note Insurer. The Note Insurer is a third-party beneficiary of this Agreement. Any right conferred to the Note Insurer shall be suspended during any period in which the Note Insurer is in default in its payment obligations under the Note Policy, except with respect to amendments to this Agreement pursuant to Section 11.14. During the continuance of a Note Insurer Default, the Note Insurer's rights hereunder shall vest in the Indenture Trustee on behalf of the Class A Noteholders and shall be exercisable by the Class A Noteholders of at least a majority in Percentage Interest of the Class A Notes then Outstanding or, if there are no Class A Notes then Outstanding and the Note Policy has expired or a Note Insurer Default has occurred and is continuing, or if there are no Class A Notes outstanding and any and all amounts due and owing the Note Insurer under the Insurance Agreement have been paid in full, and the Note Policy has expired or is unavailable due to a Note Insurer Default, by at least a majority of the Trust A Certificates then Outstanding. At such time as the Class A Notes are no longer Outstanding hereunder and the Note Insurer has been reimbursed for all Reimbursement Amounts to which it is entitled hereunder and the Note Policy has expired, the Note Insurer's rights hereunder shall terminate.
The Note Insurer. The Note Insurer shall be a third-party beneficiary of this Agreement, entitled to enforce any provisions hereof as if a party hereto. Any right conferred to the Note Insurer with respect to a Group shall be suspended during any period in which the Note Insurer is in default in its payment obligations under the Note Insurance Policy. At such time as the Notes with respect to a Group are no longer outstanding hereunder, and no amounts owed to the Note Insurer hereunder with respect to such Group remain unpaid, the Note Insurer's rights hereunder with respect to such Group shall terminate.
The Note Insurer. Any right conferred to the Note Insurer shall be suspended during any period in which the Note Insurer is in default in its payment obligations under a Note Insurance Policy. At such time as the Notes are no longer outstanding hereunder, and no amounts owed to the Note Insurer hereunder remain unpaid, the Note Insurer's rights hereunder shall terminate. The notice address of the Note Insurer is MBIA Insurance Corporation, 113 King Street, Armonk, New York 10504, Attention: Insured Portfolix Xxxxxxxxxx-XX (Xxxxxxxx-Xxxxxx) (Xxx Money Store Trust 1998-C).
The Note Insurer. The Note Insurer is a third-party beneficiary of this Agreement. Any right conferred to the Note Insurer shall be suspended during any period in which the Note Insurer is in default in its payment obligations under the Policy, except with respect to amendments to this Agreement pursuant to Section 7.13. During the continuance of a Note Insurer Default, the Note Insurer's rights hereunder shall vest in the Indenture Trustee on behalf of the Noteholders and shall be exercisable by the Noteholders of at least a majority in Percentage Interest of the Notes then Outstanding. At such time as the Notes are no longer Outstanding hereunder and the Note Insurer has been reimbursed for all Reimbursement Amounts to which it is entitled hereunder, under the Indenture and under the Insurance Agreement and the Policy has expired, the Note Insurer's rights hereunder shall terminate.
The Note Insurer. SECTION 12.01. Certain Matters Regarding the Insurer and The Insurer's Policy....................................................XII-1]
The Note Insurer. The parties hereto agree that the Note Insurer shall be deemed a third party beneficiary of this Agreement entitled to all rights and benefits set forth herein as fully as if it were a party hereto. Notwithstanding the foregoing, any right conferred upon the Note Insurer hereunder shall be suspended during any period in which an Insurer Default shall be in effect.
The Note Insurer. The Note Insurer is a third-party beneficiary of this Agreement. Any right conferred to the Note Insurer shall be suspended during any period in which the
The Note Insurer. The Note Insurer shall be a third party beneficiary hereof and shall be entitled to enforce the provisions hereof as if a party hereto. Notwithstanding anything contained herein to the contrary, the Owner Trustee shall not owe any fiduciary duties to the Note Insurer; this provision shall not be construed to limit or modify in any way the fiduciary obligation of the Owner Trustee to the beneficial owners of the Trust. Notwithstanding the foregoing, any right conferred to the Note Insurer shall be suspended during any period in which the Note Insurer is in default in its payment obligations under any Note Insurance Policy. At such time as the Notes are no longer outstanding, and no amounts owed to the Note Insurer under the Basic Documents remain unpaid, the Note Insurer's rights hereunder shall terminate.