Bulk PMI Policy definition

Bulk PMI Policy. Not applicable.

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Bulk PMI Policy. The (i) MGIC Mortgage Guaranty Master Policy (No. 12-670-4-4089), including (a) Terms and Conditions No. 71-7135 (8/94), (ii) Endorsements No. 71-70192 (8/01) and 71-70201 (1/03) with an effective date of October 1, 2004, as modified by the Terms Letter for MGIC Mortgage Insurance Coverage or Additional Coverage dated October 1, 2004 among ▇▇▇▇▇▇ Brothers Inc., MGIC and the Trustee and (iii) Commitment Certificates covering $462,157,969.55 aggregate principal balance of insurable Mortgage Loans.

Bulk PMI Policy. Either the (A)(i) the MGIC Mortgage Guaranty Master Policy (No. 12-670-4-4234), including (ii) Terms and Conditions No. 71-70282 (2/05) and Terms and Conditions No. 71-70283 (2/05), as modified by the MGIC Letter Agreement and (iii) certificates covering $466,469,061.35 aggregate principal balance of insurable Mortgage Loans, (B)(i) the PMI Mortgage Master Policy Bulk No. 2005-0347, subject to the terms and conditions of PMI Mortgage’s Bulk Primary First Lien Master Policy UW 2510.00 (9/00), including (ii) the PMI Letter Agreement covering $204,512,785.21 aggregate principal balance of insurable Mortgage Loans or (C)(i) the RMIC Mortgage Policy Form MP-1103, 8/94, including (ii) any related endorsements and (iii) the RMIC Letter Agreement covering $84,971,647.22 aggregate principal balance of insurable Mortgage Loans.

Examples of Bulk PMI Policy in a sentence

The Servicer shall not take, or permit any subservicer to modify or otherwise permit an assumption of a Mortgage Loan covered by a Bulk PMI Policy or take any other action with respect to such Mortgage Loan which would result in non-coverage under the applicable Bulk PMI Policy of any loss which, but for the actions of the Servicer or subservicer, would have been covered thereunder.
The Servicer agrees to effect the timely payment of the premiums on each Primary Mortgage Insurance Policy (other than any Bulk PMI Policy premium), and such costs not otherwise recoverable shall be recoverable by the Servicer as Servicing Advances or, if applicable, as Nonrecoverable Advances.
The Servicer shall not take, or permit any subservicer to modify or otherwise permit an assumption of a Mortgage Loan covered by a Bulk PMI Policy or take any other action with respect to such Mortgage Loan which would result in non-coverage under the applicable PMI Policy of any loss which, but for the actions of the Servicer or subservicer, would have been covered thereunder.
The Trustee shall not take, or knowingly permit any Servicer (consistent with the applicable Servicing Agreement) to take, any action that would result in noncoverage under the Bulk PMI Policy of any loss which, but for the actions of such Trustee or such Servicer, would have been covered thereunder.
The Trustee shall have no duty or responsibility to enter into any other interest rate cap agreement or bulk primary insurance policy upon the expiration or termination of the Cap Agreement or the Bulk PMI Policy.

More Definitions of Bulk PMI Policy

Bulk PMI Policy. The MGIC Master Mortgage Guaranty Policy (No. 12-670-4-2432) and any related endorsements, commitments and assignments covering the Mortgage Loans with Original Loan-to-Value Ratios of 60% or more as indicated on the Mortgage Loan Schedule. Business Day: Any day other than (i) a Saturday or a Sunday, (ii) a day on which banking institutions in New York, New York or, if other than New York, the city in which the Corporate Trust Office of the Trustee is located, or the States of Maryland, Illinois or Colorado are closed, or (iii) with respect to any Servicer Remittance Date or any Servicer reporting date, the States specified in the definition of "Business Day" in the related Servicing Agreement, are authorized or obligated by law or executive order to be closed.

Bulk PMI Policy. Any of the (A)(i) the MGIC Mortgage Guaranty Select Master Policy for Multiple Loan Transactions No. 05-02-04-4681 and the MGIC Letter Agreement dated October 31, 2006 and (ii) Commitment Certificates covering $110,237,717.20 aggregate principal balance of insurable Mortgage Loans and (B) PMI Mortgage Master Policy No. ▇▇▇▇▇-▇▇▇▇-▇, Bulk No. 2006-0908, subject to the terms and conditions of PMI Mortgage’s Bulk Primary First Lien Master Policy UW 2510.00 (09/00) and the PMI Letter Agreement dated October 31, 2006, covering $84,816,036.00 aggregate principal balance of insurable Mortgage Loans.

Bulk PMI Policy. Any of the (A)(i) the MGIC Mortgage Guaranty Select Master Policy for Multiple Loan Transactions No. 22-590-4-3651 and the MGIC Letter Agreement and (ii) Commitment Certificates covering $90,607,894.93 aggregate principal balance of insurable Mortgage Loans and (B) PMI Mortgage Master Policy No. 2▇▇▇▇-▇▇▇▇-▇, Bulk No. 2006-0911, subject to the terms and conditions of PMI Mortgage’s Bulk Primary First Lien Master Policy UW 2510.00 (09/00) and the PMI Letter Agreement, covering $64,592,997.69 aggregate principal balance of insurable Mortgage Loans.

Bulk PMI Policy. The (i) MGIC Mortgage Guaranty Master Policy (No. 12-670-4-4234), including (a) Terms and Conditions No. 71-72083 (2/05), as modified by the Terms Letter for MGIC Mortgage Insurance Coverage dated February 24, 2005 among ▇▇▇▇▇▇ Brothers Inc., MGIC and the Trustee and (iii) Commitment Certificates covering $605,921,552.68 aggregate principal balance of insurable Mortgage Loans.

Bulk PMI Policy. [To insert as applicable].

Bulk PMI Policy. The PMI Mortgage Master Insurance Policy ▇▇. ▇▇▇▇▇-▇-▇, Bulk No. 2005-0998, subject to the terms and conditions of the PMI Letter Agreement, covering all the Mortgage Loans.

Bulk PMI Policy. Each of MGIC Master Mortgage Guaranty Policy (No. 12-136-4-1893), the PMI Bulk Primary First Lien Master Policy (No. 21092-0001) and the Radian Inc. Master Policy and any related endorsements, commitments and assignments covering the Mortgage Loans in Pool 1 and Pool 2 with Original Loan-to-Value Ratios of 60% or more as indicated on the Mortgage Loan Schedules.