Approved Insurance Policy definition

Approved Insurance Policy means any credit insurance policy (i) of which the Administrative Agent and each Committed Purchaser has become a loss payee in respect of the Transferred Receivables covered under such credit insurance policy, (ii) underwritten by (A) Euler Hermes ACI (unless the Administrative Agent reasonably determines that the credit quality of Euler Hermes ACI has materially and adversely deteriorated since January 1, 2006) or (B) another insurer approved in writing by the Administrative Agent in its sole discretion and (iii) satisfying such other criteria as the Administrative Agent deems to be relevant in the exercise of its reasonable credit judgment.
Sample 1
Approved Insurance Policy means a policy of indemnity insurance that is an approved insurance policy as provided by section 74c;
Sample 1
Approved Insurance Policy means a policy that is approved or belongs to a class that is approved by the chief administrator under section 44;
Sample 1

Examples of Approved Insurance Policy in a sentence

  • The Servicer shall promptly forward to the Administrative Agent all material notices that it receives from the insurer of any Approved Insurance Policy relating to any Approved Insurance Policy.

  • Upon Buyer's receipt of all payments due with respect to the ------ Purchased Receivables, whether through payments made by or on behalf of Customers and/or payments made under the Approved Insurance Policy and payments made by Seller hereunder, Buyer and Seller shall determine the Average Collection Days for the Purchased Receivables.

  • The Seller shall not cancel (and will cause the Originator not to cancel) any Approved Insurance Policy without providing at least 15 days' prior written notice thereof to the Administrative Agent.

  • No event or circumstance has occurred and is continuing which would impair any of the coverage of Transferred Receivables under any Approved Insurance Policy or would entitle any insurer to terminate any Approved Insurance Policy or any coverage of Transferred Receivables thereunder.

  • The Seller shall promptly forward to the Administrative Agent all material notices that it or any of its Affiliates receives from the insurer of any Approved Insurance Policy relating to any Approved Insurance Policy.

  • The Servicer shall (i) maintain in full force and effect each Approved Insurance Policy and (ii) take all actions and execute all documents as the Administrative Agent or any Committed Purchaser may reasonably request in order to ensure that the Administrative Agent and the Committed Purchasers shall be loss payees under each Approved Insurance Policy.

  • Each Approved Insurance Policy insuring Transferred Receivables is in full force and effect and the Administrative Agent and the Committed Purchasers have been identified as loss payees thereunder with respect to all of the applicable Transferred Receivables.

  • The Seller shall not amend any Approved Insurance Policy without the prior written consent of the Administrative Agent.

  • All premiums under any Approved Insurance Policy have been fully paid and Bank is entitled to the benefits as a loss payee under any such Approved Insurance Policy.

  • The Seller shall, and shall cause the Originator to (i) maintain in full force and effect each Approved Insurance Policy and (ii) take all actions and execute all documents as the Administrative Agent or any Committed Purchaser may reasonably request in order to ensure that the Administrative Agent and the Committed Purchasers shall be loss payees under each Approved Insurance Policy.


More Definitions of Approved Insurance Policy

Approved Insurance Policy means one or more irrevocable trade credit insurance policies or foreign credit insurance policies, in form and substance satisfactory to Buyer in its absolute and sole discretion, which shall insure Seller against any Buyer-approved risk or any non-payment by a Customer of any Receivables and under which Buyer shall be the loss payee, a form of which is attached hereto as Exhibit B.
Sample 1

Related to Approved Insurance Policy

  • 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.

  • Approved Insurer Each insurance policy shall be issued by insurance companies authorized to do business in the State of Nevada or eligible surplus lines insurers under federal and Nevada law and having agents in Nevada upon whom service of process may be made, and currently rated by A.M. Best as “A-VII” or better.

  • 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.

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

  • 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.

  • 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.

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

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

  • 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.

  • 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.

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

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

  • 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.

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

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

  • Hazard Insurance A fire and casualty extended coverage insurance policy insuring against loss or damage from fire and other perils covered within the scope of standard extended hazard coverage naming the Servicer, its successors and assigns, as a mortgagee under a standard mortgagee clause, together with all riders and endorsements thereto.

  • Reimbursement insurance policy means a policy of insurance

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

  • 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.

  • 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.

  • 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.

  • Qualified Insurer A mortgage guaranty insurance company duly authorized and licensed where required by law to transact mortgage guaranty insurance business and approved as an insurer by Xxxxxx Xxx or Xxxxxxx Mac.

  • 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.

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

  • Specified Insurance Company means any Entity that is an insurance company (or the holding company of an insurance company) that issues, or is obligated to make payments with respect to, a Cash Value Insurance Contract or an Annuity Contract.

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