Monolines definition

Monolines means FGIC, MBIA, and the other insurers who provided financial guaranty insurance policies insuring amounts payable to RMBS in connection with certain of the RMBS Trusts, but does not include insurers of particular mortgage loans or groups of mortgage loans held by an RMBS Trust, for the purposes of the RMBS Trust Allocation Protocol.
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Monolines means Ambac Assurance Corporation, Assured Guaranty Corp., Assured Guaranty Municipal Corp., Financial Guaranty Insurance Company, National Public Finance Guarantee Corporation, and Syncora Guarantee Inc., as insurers of GO Bonds, PBA Bonds, CCDA Bonds, HTA Bonds, and PRIFA Bonds, as applicable.
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Monolines means the insurers who provided insurance policies in connection with certain of the RMBS Trusts.
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Examples of Monolines in a sentence

  • Therefore, even though the Debtors are not the direct beneficiaries of the applicable insurance policies, the outcome of a dispute between the RMBS Trusts and the Monolines could affect the amount and distribution of proceeds of the Debtors’ estates.

  • First, actions by a Wrapped Trust against Assured (or other Monolines, for that matter) that seek to resolve claims against the Debtors’ estates, including the RMBS Trust Claims, are core proceedings pursuant to 28 U.S.C. § 157(b)(2).

  • To the extent that the RMBS Trustees owe any duty whatsoever to Assured, Syncora and the other Monolines, the RMBS Trustees discharged it by allowing the Monolines to assert non-competing claims directly against the Debtors.

  • The Agreement provides that Assured and Syncora will receive the same treatment as the other Monolines.

  • As already discussed, the role of non-bank CDS providers in the form of the Monolines, hedge funds and other non-US bank insurers is important in that not all of the $7.

  • The Monoline Reservation preserves the rights of the insured RMBS Trusts (the “ Wrapped Trusts”) to assert rights of disallowance and subordination against the Monolines as co-obligors of the Debtors in connection with liability to the Wrapped Trusts.

  • There is no question that actions initiated by Wrapped Trusts for the purpose of enforcing its rights against Assured or other Monolines would affect the liability of the Debtors’ estates or the allocation of such recovery.

  • This is not what the banks were looking for when they created CDSs. Monolines actually assess the creditworthiness of the issuer before wrapping a bond (although they got caught in the 2008 crisis as well).

  • However, the area has been characterized by concessions between the President and Congress with respect to the scope of authority of each.

  • On December 23, 2015, PREPA entered into an amended and restated restructuring support agreement (the “ December RSA”) with the parties to the Initial RSA andcertain of the Monolines.


More Definitions of Monolines

Monolines means Ambac Assurance Corporation, Assured Guaranty Corp.,
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Monolines means Ambac Assurance Corporation,
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