Examples of Controlling Insurer in a sentence
If the terms of a facility proposed to be entered into with an Advancing Person by the Trust Fund would not materially and adversely affect the interests of any Certificateholder, then the Controlling Insurer or the Guarantor, if applicable, shall not withhold its consent, after consultation with the Guarantor, if applicable, to the Trust Fund's entering into such facility.
The Controlling Insurer, or if an Insurer Default has occurred and is continuing, the Holders of Certificates evidencing Fractional Interests aggregating not less than 25% may waive any default by the Servicer in the performance of its obligations hereunder and its consequences, except that a default in the making of any required remittance to the Trustee for distribution on any of the Certificates may be waived only by the affected Certificateholders.
The Controlling Insurer, so long as the Notes are Outstanding or any Reimbursement Amounts remain due and owing to the Insurers and no Insurer Default shall have occurred and be continuing with respect to the Controlling Insurer, and the Majority Noteholders, for so long as there is no Controlling Insurer due to an Insurer Default having occurred and continuing with respect to both Insurers.
If the Procuring Agency rejected all bids in pursuant to ITB Clause 32, it may proceed with the process of fresh bidding but before doing that it shall assess the reasons for rejection and may, if necessary, revise specifications, evaluation criteria or any other condition for bidders another method of procurement not in consist with PPR 2014.
Except as otherwise expressly provided in this Indenture, if any default occurs in the making of any payment or performance under any agreement or instrument that is part of the Collateral, the Indenture Trustee may with the consent of the Controlling Insurer or shall at the direction of the Note Controlling Party take such action as may be appropriate to enforce such payment or performance, including the institution and prosecution of appropriate Proceedings.
Prior to the declaration of the acceleration of the maturity of the Notes as provided in Section 5.02 above, the Controlling Insurer or the Majority Noteholders with the consent of the Controlling Insurer, may waive any past Default or Event of Default and its consequences except a Default (a) in the payment of principal of or interest on any of the Notes or (b) in respect of a covenant or provision hereof that cannot be modified or amended without the consent of the Holder of each Note.
The Controlling Insurer may, and the Holders of Certificates evidencing Percentage Interests aggregating not less than 51% of the Trust Fund may, with the consent of the Controlling Insurer, on behalf of all Certificateholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the Certificates.
The appointment of any Custodian may at any time be terminated and a substitute Custodian appointed therefor upon the reasonable request of the Master Servicer to the Trust Administrator and the consent of the Controlling Insurer, after consultation with the Guarantor, the consent to which shall not be unreasonably withheld.
Except as otherwise provided in Sections 4.26 and 4.28 hereof, the Servicer shall not resign from the obligations and duties hereby imposed on it unless it or the Indenture Trustee, acting at the direction of the Controlling Insurer, determines that the Servicer’s duties hereunder are no longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried on by it and cannot be cured.
If the Notes have been declared to be due and payable under Section 5.02 above following an Event of Default and such declaration and its consequences have not been rescinded and annulled, the Indenture Trustee may with the consent of the Controlling Insurer, but need not (but shall at the written direction of the Note Controlling Party), elect to maintain possession of the Trust Estate.