AMBAC Insurance Policy definition

AMBAC Insurance Policy. The financial guaranty insurance policy (No. AB0322BE), dated November 30, 1999, issued by the Note Insurer to the Indenture Trustee for the benefit of the Noteholders, pursuant to which the Note Insurer guarantees payment of Insured Payments.
AMBAC Insurance Policy means a municipal bond insurance policy issued by AMBAC Assurance insuring the payment when due of the principal of and interest on any Bonds as provided therein.

Examples of AMBAC Insurance Policy in a sentence

  • AMBAC Insurance Policy: The certificate guaranty insurance policy issued by the Certificate Insurer will guarantee current payments of interest to holders of the Offered Certificates and ultimate payment of principal to holders of the Class A Certificates.

  • The Indenture Trustee agrees that it will hold the AMBAC Insurance Policy in trust and that it will hold any proceeds of any claim upon the AMBAC Insurance Policy, solely for the use and benefit of the Noteholders in accordance with the terms hereof and the AMBAC Insurance Policy.

  • Credit Enhancement: Credit enhancement for the structure is provided by the AMBAC Insurance Policy, excess interest, overcollateralization, and a reserve fund funded by a yield maintenance agreement.

  • The AMBAC Insurance Policy does not cover any Net WAC Cap Carryover amounts.

Related to AMBAC Insurance Policy

  • R&W Insurance Policy means the representations and warranties insurance policy issued to Buyer in connection with the transactions contemplated hereby.

  • Insurance Policy With respect to any Mortgage Loan included in the Trust Fund, any insurance policy, including all riders and endorsements thereto in effect, including any replacement policy or policies for any Insurance Policies.

  • Blanket insurance policy means a group policy covering a defined class of

  • Bond Insurance Policy means the financial guaranty insurance policy issued by the Bond Insurer insuring the payment when due of the principal of and interest on the Bonds as provided therein.

  • Hazard Insurance Policy means, with respect to each Contract, the policy of fire and extended coverage insurance (and federal flood insurance, if the Manufactured Home is secured by an FHA/VA Contract and such Manufactured Home is located in a federally designated special flood area) required to be maintained for the related Manufactured Home, as provided in Section 5.09, and which, as provided in said Section 5.09, may be a blanket mortgage impairment policy maintained by the Servicer in accordance with the terms and conditions of said Section 5.09.

  • Insurance Policies has the meaning set forth in Section 3.16.

  • Life Insurance Policy has the meaning given in Section 6.10.

  • Reimbursement insurance policy means a policy of insurance

  • Primary Insurance Policy Each policy of primary mortgage guaranty insurance or any replacement policy therefor with respect to any Mortgage Loan.

  • Special Primary Insurance Policy Any Primary Insurance Policy covering a Mortgage Loan the premium of which is payable by the Trustee pursuant to Section 4.04(a), if so identified in the Mortgage Loan Schedule. There are no Special Primary Insurance Policies with respect to any of the Mortgage Loans.

  • Required Insurance Policy With respect to any Mortgage Loan, any insurance policy that is required to be maintained from time to time under this Agreement.

  • Company Insurance Policies has the meaning set forth in Section 4.15.

  • Standard Hazard Insurance Policy means a fire and casualty extended coverage insurance policy in such amount and with such coverage as required by this Agreement.

  • Primary Mortgage Insurance Policy Any primary mortgage guaranty insurance policy issued in connection with a Mortgage Loan which provides compensation to a Mortgage Note holder in the event of default by the obligor under such Mortgage Note or the related Security Instrument, if any or any replacement policy therefor through the related Interest Accrual Period for such Class relating to a Distribution Date.

  • Certificate Insurance Policy The Certificate Guaranty Insurance Policy No. AB1094BE, dated the Closing Date, including any endorsements thereto issued by the Certificate Insurer to the Trustee for the benefit of the Holders of the Insured Certificates, a form of which is attached as Exhibit L hereto.

  • Title Insurance Policy A title insurance policy maintained with respect to a Mortgage Loan.

  • Co-insurance means the percentage of the usual, reasonable, customary, and fair market value expense that a covered person must pay.

  • Environmental Insurance Policy means, with respect to any Mortgage Loan or the related Mortgaged Property or REO Property, any insurance policy covering pollution conditions and/or other environmental conditions that is maintained from time to time in respect of such Mortgage Loan, Mortgaged Property or REO Property, as the case may be, for the benefit of, among others, the Trustee on behalf of the Certificateholders.

  • Mortgage Impairment Insurance Policy A mortgage impairment or blanket hazard insurance policy as described in Section 4.11.

  • FHA Insurance The contractual obligation of FHA respecting the insurance of an FHA Loan pursuant to the National Housing Act, as amended.

  • group insurance means insurance, other than creditor’s group insurance and family insurance, whereby the lives of a number of persons are insured severally under a single contract between an insurer and an employer or other person; (“assurance collective”)

  • D&O Liability Insurance Policies means all insurance policies (including any “tail policy”) of any of the Debtors for liability of any current or former directors, managers, officers, and members.

  • Title Insurance Policies means, with respect to each Individual Property, an ALTA mortgagee title insurance policy in a form acceptable to Lender (or, if an Individual Property is in a State which does not permit the issuance of such ALTA policy, such form as shall be permitted in such State and acceptable to Lender) issued with respect to such Individual Property and insuring the lien of the Mortgage encumbering such Individual Property.

  • Health insurance policy means a policy that provides specified benefits for hospital and/or general treatment and meets all requirements under section 63-10 of the Private Health Insurance Act 2007.

  • Mortgage guaranty insurance means surety insurance under which a mortgagee or other creditor is indemnified against losses caused by the default of a debtor.

  • Insurance means comprehensive insurance of the vehicle(s)/equipment and shall include insurance of the crew.