Common use of The Note Insurer Clause in Contracts

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. 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 either of the Debt Service Reserve Surety Bond or the Note Insurance PolicyPolicies. At such time as the Notes are no longer outstanding hereunderoutstanding, 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. Any right conferred to the Note Insurer Issuer 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 The Servicer shall give the Owner Trustee notice of such time as the Notes are no longer outstanding hereunder, and no amounts owed to the event. The Note Insurer hereunder, under the Insurance Agreement and under the Financial Guaranty Agreement remain unpaid, the Note Insurer's rights hereunder shall terminateis an intended third party beneficiary of this Agreement.