Term of the Policy definition

Term of the Policy has the meaning provided in the Policy.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Term of the Policy means the period from and including the Effective Date to and including the date on which all Insured Payments have been paid; provided, however, that in the event that any amount with respect to any Insured Payment paid to the Beneficiary pursuant to the Pooling Agreement during the Term of the Policy becomes a Preference Amount, the Insurer's obligations with respect thereto shall remain in effect or shall be reinstated, as applicable, until payment in full by the Insurer pursuant to the terms hereof.

Term of the Policy means the period from and including the date of issuance of the Policy to and including the date on which (i) the Certificate Principal Balance of the Insured Certificates is reduced to zero, (ii) any period during which any payment of the Insured Certificates could have been avoided in whole or in part as a preference payment under applicable bankruptcy, insolvency, receivership or similar law has expired, and (iii) if any proceedings requisite to avoidance as a preference payment have been commenced prior to the occurrence of (i) and (ii), a final and nonappealable order in resolution of each such proceeding has been entered.

Examples of Term of the Policy in a sentence

This Policy and the obligations of the Insurer hereunder shall terminate upon the expiration of the Term of the Policy.
Upon the later of (i) the date upon which the Certificate Principal Balances of the Class A Certificates have been reduced to zero and all Guaranteed Distributions have been made and (ii) the date the Term of the Policy (as defined in the Policy) ends, the Trust Administrator, on behalf of the Trustee, shall surrender the Policy to the Certificate Insurer for cancellation.
At any time during the Term of the Policy, the Insurer may appoint a fiscal agent (the "Fiscal Agent") for purposes of this Policy by written notice to the Beneficiary, specifying the name and notice address of such Fiscal Agent.
Prior to due presentation of a Certificate for registration of transfer, the Depositor, the Trustee, the Certificate Insurer (with respect to the Insured Certificates for the Term of the Policy) and any agent of the Depositor, the Certificate Insurer or the Trustee may treat the Person in whose name any Certificate is registered as the owner of such Certificate for the purpose of receiving distributions pursuant to Section 6.01 and for all other purposes whatsoever.
The Term of the Policy is applicable during the periods detailed at Sections 1.4c and 1.4d of this Policy and subject to the rights of termination detailed in 1.6c, and Section 7.7 & 7.8 of this Policy.

More Definitions of Term of the Policy

Term of the Policy means the period from and including the Effective Date to and including the date that is one year and one day following the earlier to occur of (i) the date on which all amounts required to be paid on the Insured Obligations have been paid in full and (ii) the Final Distribution Date; provided, however, that in the event that any amount with respect to any Deficiency Amount paid to the Beneficiary pursuant to the Agreement during the Term of the Policy becomes a Preference Amount, the Insurer’s obligations with respect thereto shall remain in effect or shall be reinstated, as applicable, until payment in full by the Insurer pursuant to the terms hereof.

Term of the Policy has the meaning provided in the Policy for the term "Term of this Policy".

Term of the Policy means the period from and including the Date of Issuance to and including the date on which (i) all Scheduled Payments have been paid or deemed to be paid within the meaning of Section 4.1 of the Indenture; (ii) any period during which any Scheduled Payment could have been avoided in whole or in part as a preference payment under applicable bankruptcy, insolvency, receivership or similar law shall have expired and (iii) if any proceedings requisite to avoidance as a preference payment have been commenced prior to the occurrence of (i) and (ii), a final and nonappealable order in resolution of each such proceeding has been entered.

Term of the Policy means, with respect to each Policy, the meaning provided therein.

Term of the Policy has the meaning provided in the Notes Policy.

Term of the Policy. The period from and including the date of issuance of the Certificate Insurance Policy to and including the first date on which the Certificate Principal Balance for each class of the Class A Certificates is reduced to zero and interest ceased to accrue on the Class S1 Certificates, plus such additional period, to the extent specified in the Certificate Insurance Policy, during which any Payment on the applicable class of Insured Certificates could be avoided in whole or in part as a Preference Amount.

Term of the Policy. The period from and including the Closing Date to and including the first date on which (i) all Scheduled Payments have been paid that are required to be paid under this Agreement; (ii) any period during which any Scheduled Payment could have been avoided in whole or in part as a preference payment under applicable bankruptcy, insolvency, receivership or similar law has expired, and (iii) if any proceedings requisite to avoidance as a preference payment have been commenced prior to the occurrence of (i) and (ii) above, a final and nonappealable order in resolution of each such proceeding has been entered; provided, further, that if the holders of Insured Certificates are required to return any Avoided Payment as a result of such Insolvency Proceeding, then the Term of the Policy shall terminate on the date on which the Class A Certificate Insurer has made all payments required to be made under the terms of the Policy in respect of all such Avoided Payments.