Policy Provider Amounts means all Policy Provider Obligations, Policy Expenses, amounts due under the Policy Fee Letter (excluding any Early Termination Fee and without duplication of any Policy Provider Obligations or Policy Expenses) and Excess Reimbursement Obligations.
The Trustees expressly agree (on behalf of themselves and the holders of Certificates) not to assert priority over the holders of Liquidity Obligations or Policy Provider Amounts (except as specifically set forth in Section 3.2) due to their status as secured creditors in any bankruptcy, insolvency or other legal proceeding.
Policy Provider Amounts has the meaning specified in the Intercreditor Agreement.
Following any such surrender of the Policy to the Policy Provider for cancellation and payment of the Policy Provider Amounts (other than Certain Excess Reimbursement Obligations) and the Liquidity Obligations, the Class G Certificates shall no longer be entitled to the benefits of the Policy or the Primary Liquidity Facility.
BACK (d) The Trustees (on behalf of themselves and the holders of Certificates), the Primary Liquidity Provider, the Policy Provider and the Subordination Agent confirm that the payment priorities specified in Section 3.2 shall apply in all circumstances, notwithstanding the fact that the obligations owed to the Trustees and the holders of Certificates are secured by certain assets and the Liquidity Obligations and Policy Provider Amounts may not be so secured.