Bond Insurance Policy definition

Bond Insurance Policy means the municipal bond new issue insurance policy issued by the Bond Insurer that guarantees payment of principal of and interest on the Bonds.

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

Bond Insurance Policy means the municipal bond insurance policy, if any, issued by the Bond Insurer that guarantees payment of principal of and interest on the Bonds and constitutes a Bond Facility under the Indenture.

Examples of Bond Insurance Policy in a sentence

• 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.

• The Municipal Bond Insurance Policy will insure payment only on stated maturity dates and on mandatory sinking fund installment dates, in the case of principal, and on stated dates for payment, in the case of interest.

• The Municipal Bond Insurance Policy does not insure any risk other than Nonpayment, as defined in the Policy.

• Without the prior written consent of the Standby Purchaser, the Bond Insurance Policy is canceled or terminated, or amended or modified in any respect which materially and adversely affects the rights of the Standby Purchaser.

• Under the terms of the Municipal Bond Insurance Policy, Ambac Assurance will pay to the United States Trust Company of New York, in New York, New York or any successor thereto (the “Insurance Trustee”) that portion of the principal of and interest on the Series 1999 Bonds which shall become Due for Payment but shall be unpaid by reason of Nonpayment by the Issuer (as such terms are defined in the Municipal Bond Insurance Policy).

More Definitions of Bond Insurance Policy

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.

Bond Insurance Policy means the municipal bond insurance policy issued by the Bond Insurer concurrently with the delivery of the Bonds guaranteeing the scheduled payment when due of the principal of and interest on the Bonds.

Bond Insurance Policy or “Policy” means the municipal bond insurance policy issued by the Bond Insurer that guarantees payment of principal of and interest on the Bonds.

Bond Insurance Policy. The bond guaranty insurance policy issued by the Bond Insurer for the benefit of the Class A Bondholders.

Bond Insurance Policy means the municipal bond insurance policy or financial guaranty insurance policy, if any, issued by the Bond Insurer guaranteeing the payment when due of the principal of and interest on all or a portion of the Bonds, if set forth in the Sale Certificate.

Bond Insurance Policy means a policy of municipal bond insurance which guarantees the scheduled payments of principal of and interest on the Bonds when due.

Bond Insurance Policy means that standard policy of the Insurer, if acquired, to ensure timely payment of the scheduled principal of and interest on the Bonds to the owners thereof, upon satisfaction of all preconditions set forth in said Policy, as specifically noted by a legend or other appropriate text hereby authorized to be printed on the Bonds themselves. If no Bond Insurance Policy is acquired by the Local Government Unit at the time the Bonds are issued, then the term “Bond Insurance Policy” will not be relevant to the Bonds.