Insured Indebtedness definition

Insured Indebtedness means, with respect to a Person, any Indebtedness of such Person or its Subsidiaries that is guaranteed by such Person or another Subsidiary of such Person that is an insurance company (including a financial guaranty company) so long as the proceeds of such Indebtedness are used to purchase securities, instruments, notes or other obligations issued or owed by a Person that is not an affiliate of such Person, in the ordinary course of business.

Examples of Insured Indebtedness in a sentence

• In addition to the premium rate authorized, a charge may also be made for a nonrefundable origination fee per credit accident and health insurance transaction as set forth below: Insured Indebtedness Fee Permitted less than $250.00 none $250.00 or more but $1.00 less than $500.00 $500.00 or more $3.00 No third or subsequent origination fee may be charged in connection with a third or subsequent refinancing within any twelve-month period.

• In addition to the premium rate authorized, a charge may also be made for a nonrefundable origination fee per credit life insurance transaction as set forth below: Insured Indebtedness Fee Permitted less than $250.00 none $250.00 or more but $1.00 less than $500.00 $500.00 or more $3.00 No third or subsequent origination fee may be charged in connection with a third or subsequent refinancing within any twelve-month period.