MBIA Insurance Corporation definition

MBIA Insurance Corporation. (the "Certificate Insurer") has issued a surety bond with respect to the Class A-1 Certificates, a copy of which is attached as Exhibit A-1 to the Agreement. Subject to certain restrictions, the Agreement permits the amendment thereof by the Depositor, the Servicer and the Trustee. Subject to the rights of the Certificate Insurer, the Agreement permits the Majority Certificateholders to waive, on behalf of all Certificateholders, any default by the Servicer in the performance of its obligations under the Agreement and its consequences, except in a default in making any required distribution on a Certificate. Any such consent or waiver by the Majority Certificateholders shall be conclusive and binding on the holder of this Certificate and upon all future holders of this Certificate and of any Certificate issued upon the transfer hereon or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon this Certificate. As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices or agencies maintained by the Trustee in New York, New York duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to, the Trustee, duly executed by the holder hereof or such holder's attorney duly authorized in writing, and thereupon one or more new Certificates of authorized denominations evidencing the same aggregate undivided Percentage Interest will be issued to the designated transferee or transferees. The Certificates are issuable only in fully-registered form. As provided in the Agreement and subject to certain limitations therein set forth, the Certificate is exchangeable for a new Certificate evidencing the same undivided ownership interest, as requested by the holder surrendering the same. No service charge will be made for any such registration of transfer or exchange, but the Trustee may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. The Servicer, the Depositor, the Seller and the Trustee and any agent of any of the foregoing, may treat the person in whose name this Certificate is registered as the owner hereof for all purposes, and none of the foregoing shall be affected by notice to the contrary. The obligations created by the Agreement shall terminate upon notice to...
MBIA Insurance Corporation. (the "Note Insurer") has issued and delivered a note guaranty insurance policy, dated the Closing Date (with endorsements, the "Note Policy"), pursuant to which the Note Insurer guarantees Insured Payments, as defined in the Note Policy. As an inducement to the Note Insurer to issue and deliver the Note Policy, the Issuer and the Note Insurer have executed and delivered the Insurance and Indemnity Agreement, dated as of March 28, 2007 (as amended from time to time, in accordance with the terms thereof, the "Insurance Agreement") among the Note Insurer, the Issuer, Consumer Portfolio Services, Inc. and CPS Receivables Three Corp. (the "Seller") As an additional inducement to the Note Insurer to issue the Note Policy, and as security for the performance by the Issuer of the Issuer Secured Obligations (as defined below) and as security for the performance by the Issuer of its obligations to the Residual Certificateholders under the Sale and Servicing Agreement, the Issuer has agreed to assign the Collateral (as defined below) as collateral to the Trustee for the benefit of the Issuer Secured Parties and Residual Certificateholders (as defined below), as their respective interests may appear. GRANTING CLAUSE The Issuer hereby Grants to the Trustee at the Closing Date, for the benefit of the Issuer Secured Parties and the Residual Certificateholders, all right, title and interest of the Issuer, whether now existing or hereafter arising, in and to the following:
MBIA Insurance Corporation. (the "Insurer"), in consideration of the payment of the premium and subject to the terms of this policy, hereby unconditionally and irrevocably guarantees to any owner, as hereinafter defined, of the following described obligations, the full and complete payment required to be made by or on behalf of the Issuer to The Bank of New York or its successor (the "Paying Agent") of an amount equal to (i) the principal of the Obligations (as that term is defined below) on the initial mandatory tender date of June 15, 2003 and interest on the Obligations as such payments become due on and prior to such initial mandatory tender date but shall not be so paid (except that in the event of any acceleration of the due date of such principal by reason of mandatory or optional redemption, or acceleration resulting from default or otherwise, the payments guaranteed hereby shall be made in such amounts and at such times as such payments of principal would have been due had there not been any such acceleration); and (ii) the reimbursement of any such payment which is subsequently recovered from any owner pursuant to a final judgment by a court of competent jurisdiction that such payment constitutes an avoidable preference to such owner within the meaning of any applicable bankruptcy law. The amounts referred to in clauses (i) and (ii) of the preceding sentence shall be referred to herein collectively as the "Insured Amounts." "Obligations" shall mean: $100,000,000 DTE Energy Company Remarketed Notes, Series A due 2038 through the Initial Interest Rate Adjustment Date of June 15, 2003 Upon receipt of telephonic or telegraphic notice, such notice subsequently confirmed in writing by registered or certified mail, or upon receipt of written notice by registered or certified mail, by the Insurer from the Paying Agent or any owner of an Obligation the payment of an Insured Amount for which is then due, that such required payment has not been made, the Insurer on the due date of such payment or within one business day after receipt of notice of such nonpayment, whichever is later, will make a deposit of funds, in an account with State Street Bank and Trust Company, N.A., in New York, New York, or its successor, sufficient for the payment of any such Insured Amounts which are then due. Upon presentment and surrender of such Obligations or presentment of such other proof of ownership of the Obligations, together with any appropriate instruments of assignment to evidence the assignment...

Examples of MBIA Insurance Corporation in a sentence

  • In the case of Trusts for which MBIA Insurance Corporation ("MBIA") insurance with respect to each of the Bonds deposited therein has been obtained by the Depositor or the issuer or underwriter of the Bonds, we have examined the form of MBIA's policy or several policies of insurance (the "Policies") which have been delivered to the Trustee.

  • MBIA Insurance Corporation (the "Certificate Insurer") is intended to be a third party beneficiary of this Agreement and is hereby recognized by the parties hereto to be a third-party beneficiary of this Agreement.

  • The rating is based upon an insurance policy provided by MBIA Insurance Corporation.

  • The table reflects MBIA Insurance Corporation including its subsidiary MBIA UK Limited.

  • For all series issued prior to 2008, payments of the principal and interest on the bonds when due are insured by a municipal bond insurance policy issued by MBIA Insurance Corporation.

  • This Certificate will have the benefit of an irrevocable and unconditional certificate guaranty insurance policy issued by MBIA Insurance Corporation (the "Certificate Insurer").

  • In the case of a Trust for which MBIA Insurance Corporation ("MBIA") insurance with respect to each of the Bonds deposited therein has been obtained by the Depositor or the issuer or underwriter of the Bonds, we have examined the form of MBIA's policy or several policies of insurance (the "Policies") which have been delivered to the Trustee.

  • MBIA Insurance Corporation, or any successors in interest thereto, as issuer of the Certificate Insurance Policy.

  • The statutory financial statements of MBIA Insurance Corporation (“MBIA Corp.” or the “Company”) are presented on the basis of accounting practices prescribed or permitted by the New York State Department of Financial Services (“NYSDFS”).

  • In April 1995, the Company changed its name to MBIA Insurance Corporation.


More Definitions of MBIA Insurance Corporation

MBIA Insurance Corporation. (the "Financial Guarantor"), in consideration of the payment of the Fee, receipt of which is hereby acknowledged, and subject to the terms of this Financial Guarantee, hereby irrevocably and unconditionally agrees to pay to Chase Capital Markets Fiduciary Services Australia Limited (ABN 48 002 916 396) as trustee on behalf of the Noteholders, or its successor (the "Guarantee Trustee") that portion of the principal of and interest on the above-described obligations (the "Obligations") which shall become Due for Payment but shall be unpaid by reason of Nonpayment. References herein to the Guarantee Trustee shall include references to the Paying Agent acting on its behalf. The Financial Guarantor will make such payments to the Guarantee Trustee (but not the Paying Agent) on the later of (i) the date on which such amount is Due for Payment or (ii) two New York and Sydney Business Days following receipt by the Financial Guarantor at its address specified above of notification by the Guarantee Trustee to the Financial Guarantor of Nonpayment. REIMBURSEMENT AGREEMENT XXXXX XXXXX & XXXXXXX --------------------------------------------------------------------------------
MBIA Insurance Corporation. (the "Insurer"), in consideration of the payment of the premium and subject to the terms of this Surety Bond, hereby unconditionally and irrevocably guarantees the full and complete payments that are to be applied to payment of principal of and interest on the Obligations (as hereinafter defined) and that are required to be made by or on behalf of THE NELNET GROUP TRUST I, (the "Issuer") under the Trust Agreement (the "Document") to The Chase Manhattan Bank, (the "Note Paying Agent"), as such payments are due but shall not be so paid in connection with the issuance by the Issuer of $57,500,000 THE NELNET GROUP TRUST I 6.34% Student Loan Interest Margin Securities (SLIMS(SM)), (the "Obligations"), provided, that the amount available hereunder for payment pursuant to any one Demand for Payment (as hereinafter defined) shall not exceed $1,822,750 or the Debt Service Available Amount for the Obligations (as set forth in the Document), whichever is less (the "Surety Bond Limit"); provided, further, that the amount available at any particular time to be paid to the Note Paying Agent under the terms hereof (the "Surety Bond Coverage") shall be reduced and may be reinstated from time to time as set forth herein.
MBIA Insurance Corporation. (the "Bond Insurer"), in consideration of the payment of the premium and subject to the terms of the financial guaranty insurance policy (the "Bond Insurance Policy") issued thereby, has unconditionally and irrevocably guaranteed the payment of the Insured Payment. The Bond Insurance Policy will not cover any Prepayment Interest Shortfalls, Relief Act Shortfalls or Carry-Forward Amount. All principal and interest accrued on the Bonds, if not previously paid, will become finally due and payable at the Final Scheduled Payment Date. The Bonds are subject to redemption in whole, but not in part, by the Issuer on any Payment Date on or after the earlier of (i) the Payment Date on which the aggregate Principal Balance of the Mortgage Loans is less than or equal to 25% of the sum of the aggregate Principal Balance of the Initial Mortgage Loans as of the Cut-Off Date and the Original Pre-Funded Amount and (ii) the Payment Date in December 2004. The Issuer shall not be liable upon the indebtedness evidenced by the Bonds except to the extent of amounts available from the Trust Estate which constitutes security for the payment of the Bonds. The assets included in the Trust Estate and payments under the Bond Insurance Policy will be the sole source of payments on the Bonds, and each Holder hereof, by its acceptance of this Bond, agrees that (i) such Bond will be limited in right of payment to amounts available from the Trust Estate and the Bond Insurance Policy as provided in the Indenture and (ii) such Holder shall have no recourse to the Issuer, the Owner Trustee, the Indenture Trustee, the Company, the Servicer or any of their respective affiliates, or to the assets of any of the foregoing entities, except the assets of the Issuer pledged to secure the Bonds pursuant to the Indenture.
MBIA Insurance Corporation. (the "Insurer") has issued a financial guaranty insurance policy (the "Policy") containing the following provisions, such policy being on file at The Bank of New York, 101 Barclay Street, Floor 8W, New York, New York 10286
MBIA Insurance Corporation. (the "Insurer") has issued a financial guaranty insurance policy (the "Policy") containing the following provisions, such policy being on file at The Chase Manhattan Bank, 450 West 33rd Street, New York, New York 10001.

Related to MBIA Insurance Corporation

  • Participating Insurance Company any insurance company investing in the Trust on its behalf or on behalf of a Participating Account, including the Company.

  • Association captive insurance company means a company that insures risks of the member organizations of the association and their affiliated companies.

  • Captive insurance company means a pure captive insurance company, association captive insurance company, captive reinsurance company, sponsored captive insurance company, special purpose captive insurance company, or industrial insured captive insurance company formed or licensed under this chapter. For purposes of this chapter, a branch captive insurance company must be a pure captive insurance company with respect to operations in this State, unless otherwise permitted by the director.

  • Insurance Companies means the companies with whom the Insurance Policies are held.

  • Co-insurance means the portion of the carrier's allowable charge for the covered item or service

  • FHA Insurance The contractual obligation of FHA respecting the insurance of an FHA Loan pursuant to the National Housing Act, as amended.

  • In-Orbit Insurance means, with respect to any Satellite (or, if the entire Satellite is not owned by the Issuer or any Restricted Subsidiary, as the case may be, the portion of the Satellite it owns or for which it has risk of loss), insurance (subject to a right of co-insurance in an amount up to $150.0 million) or other contractual arrangement providing for coverage against the risk of loss of or damage to such Satellite (or portion, as applicable) attaching upon the expiration of the launch insurance therefor (or, if launch insurance is not procured, upon the initial completion of in-orbit testing) and attaching, during the commercial in-orbit service of such Satellite (or portion, as applicable), upon the expiration of the immediately preceding corresponding policy or other contractual arrangement, as the case may be, subject to the terms and conditions set forth in this Indenture.

  • Regulated Insurance Company means any Subsidiary of the Borrower, whether now owned or hereafter acquired, that is authorized or admitted to carry on or transact Insurance Business in any jurisdiction and is regulated by any Applicable Insurance Regulatory Authority.

  • Insurance Commissioner means the Insurance Commissioner

  • Sponsored captive insurance company means a captive insurance company:

  • group insurance means insurance other than creditor’s group insurance and family insurance, whereby the lives or well-being, or the lives and well-being, of a number of persons are insured severally under a single contract between an insurer and an employer or other person; (“assurance collective”)

  • School Corporation means any of the following:

  • Insurance Company The Transferee is an insurance company whose primary and predominant business activity is the writing of insurance or the reinsuring of risks underwritten by insurance companies and which is subject to supervision by the insurance commissioner or a similar official or agency of a state, U.S. territory or the District of Columbia.

  • Industrial insured captive insurance company means a company that insures risks of the industrial insureds that comprise the industrial insured group and their affiliated companies.

  • Blanket insurance policy means a group policy covering a defined class of

  • Insurance means (i) all insurance policies covering any or all of the Collateral (regardless of whether the Collateral Agent is the loss payee thereof) and (ii) any key man life insurance policies.

  • Insurance group means the persons that comprise an insurance holding company system.

  • insurance agent means a sales and/ or service representative of an insur- ance company. The term ‘‘insurance agent’’ encompasses any person that sells, markets, distributes, or services an insurance company’s covered prod- ucts, including, but not limited to, a person who represents only one insur- ance company, a person who represents more than one insurance company, and a bank or broker-dealer in securities that sells any covered product of an in- surance company.

  • Nonprofit corporation means a nonprofit corporation, duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation and (if a foreign corporation) in good standing under the laws of the State of California, which corporation has established and maintains valid nonprofit status under Section 501(c)(3) of the United States Internal Revenue Code of 1986, as amended, and all rules and regulations promulgated under such Section.

  • Life insurance means insurance coverage on human lives including benefits of endowment and annuities, and may include benefits in the event of death or dismemberment by accident and benefits for disability income and unless otherwise specifically excluded, includes individually issued annuities.

  • Pure captive insurance company means any company that insures risks of its parent and affiliated companies or controlled unaffiliated business.

  • Fidelity Insurance means insurance coverage with respect to employee errors, omissions, dishonesty, forgery, theft, disappearance and destruction, robbery and safe burglary, property (other than money and securities) and computer fraud in an aggregate amount acceptable to Seller’s regulators.

  • Office of the Corporation means the executive office of the Corporation, anything in Section 131 of the General Corporation Law to the contrary notwithstanding.

  • Insurance premium finance company means a person engaged in the business of

  • Specified Insurance Company means any Entity that is an insurance company (or the holding company of an insurance company) that issues, or is obligated to make payments with respect to, a Cash Value Insurance Contract or an Annuity Contract.

  • Travel Insurance means coverage for personal risks incidental to planned travel, including one or more of the following: