Examples of Certificate Guaranty Insurance Policy in a sentence
The Trustee shall deposit any amounts received from the Certificate Insurer pursuant to the Certificate Guaranty Insurance Policy into the Insurance Account.
The Mortgage Loans are subject to termination in whole, but not in part, by the Master Servicer, on or after the Distribution Date on which the aggregate Stated Principal Balance of the Mortgage Loans is less than or equal to 10% of the Cut-of Date balance; provided, however, that no such purchase will be permitted if it would result in a draw on the Certificate Guaranty Insurance Policy, unless the Certificate Insurer consents in writing to such purchase.
In exchange for a substantial premium, MBIA issued a Note or Certificate Guaranty Insurance Policy to the Trusts (the “Insurance Policies”), which promised the Trusts that, to the extent that the payments received from the Mortgage Loans were insufficient to cover the payments due under the Securities, MBIA would cover the shortfall.
All Realized Losses on the Mortgage Loans (other than Excess Losses) shall be allocated as follows: first, to the Excess Cash Flow as provided in Section 4.02(c)(iii), second, in reduction of the Overcollateralization Amount, until such amount has been reduced to zero; and thereafter, to the extent not covered by the Certificate Guaranty Insurance Policy, to the Class A Certificates on a pro rata basis.
To the extent that remaining excess exists, a payment of principal in that amount will be made under the Certificate Guaranty Insurance Policy for the benefit of the Class A Certificateholders.
The Class A Certificate Insurer shall be a third party beneficiary of this Agreement with the right to enforce the obligations of the parties hereto as though it was a party hereto until the later of (i) the Class A Certificate Guaranty Insurance Policy remains in effect and (ii) all amounts owed the Class A Certificate Insurer under the Policy and Insurance Agreement have been paid.
To FSA, any reimbursement for amounts paid under the Class A Certificate Guaranty Insurance Policy, to the extent not paid above, together with interest thereon at the rate set forth in the pooling and servicing agreement.
EXHIBIT B Copy of Certificate Guaranty Insurance Policy with respect to the Insured Certificates FINANCIAL GUARANTY INSURANCE POLICY Trust: As described in Endorsement No. 1 Policy No.: 51660-N Certificates: New Century Home Equity Loan Trust, Series 2005-A Asset Backed Pass-Through Certificates, $108,924,000 Original Class Principal Balance, Class A-4w Certificates, and $71,925,000 Original Class Principal Balance, Class A-5w Certificates Date of Issuance: 6/28/05 FINANCIAL SECURITY ASSURANCE INC.
Relying on Bear Stearns’ pre-contractual representations detailed above, EMC’s representations and warranties, covenants and indemnities contained in and encompassed by the SACO 2006-2 I&I Agreement, SACO 2006-2 MLPA, and SACO 2006-2 PSA, and having recently received assurances from EMC regarding its due-diligence practices, Ambac issued Certificate Guaranty Insurance Policy No. AB0971BE and Certificate Guaranty Insurance Policy No. AB0972BE (collectively, the “SACO 2006-2 Policy”).
Of these 27 organisations, 24 were local agencies and three were national agencies.