The Certificate Insurer. Any right conferred to the Certificate Insurer hereunder shall be suspended and shall run to the benefit of the Owners during any period in which there exists a Certificate Insurer Default; provided, that the right of the Certificate Insurer to receive the Premium Amount shall not be suspended if such Certificate Insurer Default was a default other than a default under clause (a) of the definition thereof. At such time as the Class A Certificates are no longer Outstanding hereunder and the Certificate Insurer has received all Reimbursement Amounts, the Certificate Insurer's rights hereunder shall terminate.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Imc Home Equity Loan Trust 1998-3), Pooling and Servicing Agreement (Imc Home Equity Loan Trust 1997-7), Pooling and Servicing Agreement (Imc Home Equity Loan Trust 1997-1)
The Certificate Insurer. Any right conferred to the Certificate Insurer hereunder shall be suspended and shall run to the benefit of the Owners during any period in which there exists a Certificate Insurer Default; provided, that the right of the Certificate Insurer to receive the Premium Amount shall not be suspended if such Certificate Insurer Default was a default other than a default under clause (a) of the definition thereof. At such time as the Class A Certificates and the Class S Certificates are no longer Outstanding hereunder and the Certificate Insurer has received all Reimbursement Amounts, the Certificate Insurer's rights hereunder shall terminate.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Imc Home Equity Loan Trust 1996-4)
