Ambac definition

Ambac. Ambac Assurance Corporation (formerly known as AMBAC Indemnity Corporation).

Ambac means Ambac Assurance Corporation, a Wisconsin domiciled stock insurance corporation.

Ambac means Ambac Financial Group, Inc., a Delaware corporation.

Examples of Ambac in a sentence

• Ambac does not consolidate the VIE since it does not have a variable interest in the trust.

• Ambac Assurance will make such payments to the Insurance Trustee on the later of the date on which such principal and interest becomes Due for Payment or within one business day following the date on which Ambac Assurance shall have received notice of Nonpayment from the Trustee/Paying Agent.

• The permitted activities of this entity are contractually limited to purchasing assets from Ambac, issuing medium-term notes ("MTNs") to fund such purchases, executing derivative hedges and obtaining financial guarantee policies with respect to indebtedness incurred.

• Ambac does not consolidate this entity because the exercise of related control rights in such policies remain subject to OCI approval under the Stipulation and Order, as discussed above.

• Payment Pursuant to Municipal Bond Insurance Policy Ambac Assurance has made a commitment to issue a municipal bond insurance policy (the “Municipal Bond Insurance Policy”) relating to the Series 1999 Bonds effective as of the date of issuance of the Series 1999 Bonds.

More Definitions of Ambac

Ambac means Ambac Assurance Corporation, a Wisconsin-domiciled stock insurance company.

Ambac means Ambac Assurance Corporation (formerly named AMBAC Indemnity Corporation), a Wisconsin-domiciled stock-insurance corporation. Any reference herein to “AMBAC Indemnity” shall be a reference to “AMBAC.”

Ambac. Means Ambac Assurance Corporation, in its capacity as the Policy Provider as specified in the Intercreditor Agreement.

Ambac or “Note Insurer” shall mean Ambac Assurance Corporation, a Wisconsin-domiciled stock insurance company.

Ambac. Ambac Assurance Corporation, a stock insurance corporation organized and created under the laws of the State of Wisconsin, and any successors thereto.

Ambac shall have the meaning assigned to such term in Annex A of the Trust Deed.

Ambac means, collectively, Ambac Assurance Corporation and the Segregated Account of Ambac Assurance Corporation.