Insurer Default definition

Insurer Default means the occurrence and continuance of any of the following events:

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Insurer Default means any one of the following events shall have occurred and be continuing:

Insurer Default. The existence and continuance of any of the following: (a) a failure by the Insurer to make a payment required under the Policy in accordance with its terms; or (b)

Examples of Insurer Default in a sentence

• The Insurer and its successors and assigns shall be a third-party beneficiary to the provisions of this Agreement, and shall be entitled to rely upon and directly enforce such provisions of this Agreement so long as no Insurer Default shall have occurred and be continuing.

• The Insurer and its successors and assigns shall be a third-party beneficiary to the provisions of this Indenture, and shall be entitled to rely upon and directly to enforce such provisions of this Indenture so long as no Insurer Default shall have occurred and be continuing.

• If the Servicer shall not have joined in such appointment within 15 days after the receipt by it of a request so to do, the Owner Trustee subject, unless an Insurer Default shall have occurred and be continuing, to the approval of the Security Insurer (which approval shall not be unreasonably withheld) shall have the power to make such appointment.

• Any such determination permitting the resignation of the Servicer or Backup Servicer shall be evidenced by an Opinion of Counsel to such effect delivered and acceptable to the Trust Collateral Agent, the Owner Trustee and the Insurer (unless an Insurer Default shall have occurred and be continuing).

• The Owner Trustee shall give prompt written notice to the Depositor, the Certificateholder and (unless an Insurer Default shall have occurred and be continuing) the Security Insurer of any change in the location of the Certificate Register or any such office or agency.

More Definitions of Insurer Default

Insurer Default. The existence and continuance of any failure by the Insurer to make a payment required under the Policy in accordance with its terms.

Insurer Default. The failure by the Insurer to make a payment required under the Policy in accordance with the terms thereof.

Insurer Default. The occurrence and continuance of any of the following:

Insurer Default means the Insurer is in default under the Policy after the expiration of any applicable cure period.

Insurer Default. The existence and continuance of any of the following:

Insurer Default. An insurer default will occur in the event the Certificate Insurer fails to make a payment under the Certificate Guaranty Insurance Policy or if certain events of bankruptcy or insolvency occur with respect to the Certificate Insurer.

Insurer Default has the meaning specified in the Indenture.