Common use of Impairment of Rights Clause in Contracts

Impairment of Rights. The Issuer shall not take any action, or fail to take any action, if such action or failure to take action may result in a material adverse change as described in clause (ii) of the definition of Material Adverse Change with respect to the Issuer, or may interfere with the enforcement of any rights of the Insurer under or with respect to the Transaction Documents. The Issuer shall give the Insurer written notice of any such action or failure to act on the earlier of: (i) the date upon which any publicly available filing or release is made with respect to such action or failure to act or (ii) promptly prior to the date of consummation of such action or failure to act. The Issuer shall furnish to the Insurer all information requested by it that is reasonably necessary to determine compliance with this paragraph.

Appears in 7 contracts

Samples: Insurance Agreement (First Investors Financial Services Group Inc), Insurance Agreement (First Investors Financial Services Group Inc), Insurance Agreement (First Investors Financial Services Group Inc)

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Impairment of Rights. The Issuer shall not take any action, or fail to take any action, if such action or failure to take action may result in a material adverse change as described Material Adverse Change specified in clause (ii) of the definition of Material Adverse Change with respect to the Issuer, Issuer or may not interfere with the enforcement of any rights of the Insurer under or with respect to any of the Transaction Company Documents. The Issuer shall give the Insurer written notice of any such action or failure to act on the earlier of: (i) the date upon which any publicly available filing or release is made with respect to such action or failure to act or (ii) promptly prior to the date of consummation of such action or failure to act. The Issuer shall furnish to the Insurer all information requested by it that is reasonably necessary to determine compliance with this paragraph.

Appears in 5 contracts

Samples: Insurance and Indemnity Agreement (Ikon Receivables LLC), Insurance and Indemnity Agreement (Ikon Receivables LLC), Insurance and Indemnity Agreement (Ikon Receivables LLC)

Impairment of Rights. The Issuer Depositor shall not take any action, or fail to take any action, if such action or failure to take action may result in a material adverse change as described in clause (ii) of the definition of Material Adverse Change with respect to the IssuerDepositor, or may interfere with the enforcement of any rights of the Insurer under or with respect to the Transaction Documents. The Issuer Depositor shall give the Insurer written notice of any such action or failure to act on the earlier of: (i) the date upon which any publicly available filing or release is made with respect to such action or failure to act or (ii) promptly prior to the date of consummation of such action or failure to act. The Issuer Depositor shall furnish to the Insurer all information requested by it that is reasonably necessary to determine compliance with this paragraphsubsection (a).

Appears in 2 contracts

Samples: Insurance Agreement (Residential Asset Funding Corp), Insurance Agreement (Residential Asset Funding Corp)

Impairment of Rights. The Issuer shall not take any action, or fail to take any action, if such action or failure to take action may result in a material adverse change as described in clause (iib) of the definition of Material Adverse Change with respect to the Issuer, or may interfere with the enforcement of any rights of the Insurer under or with respect to the Transaction Documents. The Issuer shall give the Insurer written notice of any such action or failure to act on the earlier of: (i) the date upon which any publicly available filing or release is made with respect to such action or failure to act or (ii) promptly prior to the date of consummation of such action or failure to act. The Issuer shall furnish to the Insurer all information requested by it that is reasonably necessary to determine compliance with this paragraph.

Appears in 2 contracts

Samples: Insurance Agreement (UPFC Auto Receivables Trust 2006-A), Insurance Agreement (UPFC Auto Receivables Trust 2007-A)

Impairment of Rights. The Issuer shall not take any action, or fail to take any action, if such action or failure to take action may result in a material adverse change as described Material Adverse Change specified in clause (ii) of the definition of Material Adverse Change with respect to the Issuer, or may interfere with the enforcement of any rights of the Note Insurer under or with respect to any of the Transaction Basic Documents. The Issuer shall give the Note Insurer written notice of any such action or failure to act on the earlier of: (i) the date upon which any publicly available filing or release is made with respect to such action or failure to act or (ii) promptly prior to the date of consummation of such action or failure to act. The Issuer shall furnish to the Note Insurer all information requested by it that is reasonably necessary to determine compliance with this paragraph.

Appears in 2 contracts

Samples: Insurance and Indemnity Agreement (National Collegiate Student Loan Trust 2007-3), Insurance and Indemnity Agreement (National Collegiate Student Loan Trust 2007-4)

Impairment of Rights. The Issuer shall not take any action, or fail to take any action, if such action or failure to take action may result in a material adverse change as described Material Adverse Change specified in clause (ii) of the definition of Material Adverse Change with respect to the Issuer, respectively, or may not interfere with the enforcement of any rights of the Insurer under or with respect to any of the Transaction Documents. The Issuer shall give the Insurer written notice of any such action or failure to act on the earlier of: (i) the date upon which any publicly available filing or release is made with respect to such action or failure to act or (ii) promptly prior to the date of consummation of such action or failure to act. The Issuer shall furnish to the Insurer all information requested by it that is reasonably necessary to determine compliance with this paragraph.

Appears in 1 contract

Samples: Insurance and Indemnity Agreement (Indymac Abs Inc)

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Impairment of Rights. The Issuer shall not take any action, or fail to take any action, if such action or failure to take action may result in a material adverse change as described in clause (ii) of the definition of Material Adverse Change with respect to the Issuer, or may interfere in any material respect with the enforcement of any rights of the Insurer under or with respect to any of the Transaction Documents. The Issuer shall give the Insurer written notice of any such action or or, to the best of the knowledge of the Issuer, any such failure to act on the earlier of: (i) the date upon which any publicly available filing or release is made with respect to such action or failure to act or and (ii) promptly prior to the date of consummation of such action or failure to act. The Issuer shall furnish to the Insurer all information reasonably requested by it the Insurer that is reasonably necessary to determine compliance with this paragraphSection 2.08(a).

Appears in 1 contract

Samples: Insurance and Indemnity Agreement (IndyMac Home Equity Mortgage Loan Asset-Backed Trust, Series 2006-H4)

Impairment of Rights. The Issuer shall not take any action, or fail to take any action, if such action or failure to take action may result in a material adverse change as described Material Adverse Change specified in clause (ii) of the definition of Material Adverse Change with respect to the Issuer, Issuer or may interfere with the enforcement of any rights of the Insurer under or with respect to any of the Transaction Company Documents. The Issuer shall give the Insurer written notice of any such action or failure to act on the earlier of: (i) the date upon which any publicly available filing or release is made with respect to such action or failure to act or (ii) promptly prior to the date of consummation of such action or failure to act. The Issuer shall furnish to the Insurer all information requested by it that is reasonably necessary to determine compliance with this paragraph.

Appears in 1 contract

Samples: Insurance and Indemnity Agreement (Ikon Receivables Funding LLC)

Impairment of Rights. The Issuer shall not take any action, or fail to take any action, if such action or failure to take action may result in a material adverse change as described Material Adverse Change specified in clause (ii) of the definition of Material Adverse Change with respect to the Issuer, respectively, or may not interfere with the enforcement of any rights of the Note Insurer under or with respect to any of the Transaction Company Documents. The Issuer shall give the Note Insurer written notice of any such action or failure to act on the earlier of: (i) the date upon which any publicly available filing or release is made with respect to such action or failure to act or (ii) promptly prior to the date of consummation of such action or failure to act. The Issuer shall furnish to the Note Insurer all information requested by it that is reasonably necessary to determine compliance with this paragraph.

Appears in 1 contract

Samples: Insurance and Indemnity Agreement (Residential Asset Funding Corp)

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