Examples of Certificate Guaranty Insurance Policy in a sentence
The Trustee shall deposit any amounts received from the Certificate Insurer pursuant to the Certificate Guaranty Insurance Policy into the Insurance Account.
The Mortgage Loans are subject to termination in whole, but not in part, by the Master Servicer, on or after the Distribution Date on which the aggregate Stated Principal Balance of the Mortgage Loans is less than or equal to 10% of the Cut-of Date balance; provided, however, that no such purchase will be permitted if it would result in a draw on the Certificate Guaranty Insurance Policy, unless the Certificate Insurer consents in writing to such purchase.
All Realized Losses on the Mortgage Loans (other than Excess Losses) shall be allocated as follows: first, to the Excess Cash Flow as provided in Section 4.02(c)(iii), second, in reduction of the Overcollateralization Amount, until such amount has been reduced to zero; and thereafter, to the extent not covered by the Certificate Guaranty Insurance Policy, to the Class A Certificates on a pro rata basis.
For the Class AM Certificates: Ambac Assurance Corporation, in consideration of the payment of the premium and subject to the terms of the Certificate Guaranty Insurance Policy, has unconditionally and irrevocably guaranteed the payment of an amount equal to the Insured Amount (as defined in the Certificate Guaranty Insurance Policy) with respect to the Class AM Certificates with respect to each Distribution Date.
EXHIBIT B Copy of Certificate Guaranty Insurance Policy with respect to the Insured Certificates FINANCIAL GUARANTY INSURANCE POLICY Trust: As described in Endorsement No. 1 Policy No.: 51660-N Certificates: New Century Home Equity Loan Trust, Series 2005-A Asset Backed Pass-Through Certificates, $108,924,000 Original Class Principal Balance, Class A-4w Certificates, and $71,925,000 Original Class Principal Balance, Class A-5w Certificates Date of Issuance: 6/28/05 FINANCIAL SECURITY ASSURANCE INC.
To FSA, any reimbursement for amounts paid under the Class A Certificate Guaranty Insurance Policy, to the extent not paid above, together with interest thereon at the rate set forth in the pooling and servicing agreement.
Unless the context clearly requires otherwise, all capitalized terms used but not defined herein shall have the respective meanings assigned to them in the Insurance and Indemnity Agreement, the Certificate Guaranty Insurance Policy No. AB0366BE issued by the Insurer in favor of the Trustee (the "Note Policy") or the Financial Guaranty Insurance Policy No. SF0350BE issued by the Issuer in favor of The Chase Manhattan Bank (the "Swap Policy" and together with the Note Policy, the "Policies").
The Class A Certificate Insurer shall be a third party beneficiary of this Agreement with the right to enforce the obligations of the parties hereto as though it was a party hereto until the later of (i) the Class A Certificate Guaranty Insurance Policy remains in effect and (ii) all amounts owed the Class A Certificate Insurer under the Policy and Insurance Agreement have been paid.
To the extent that remaining excess exists, a payment of principal in that amount will be made under the Certificate Guaranty Insurance Policy for the benefit of the Class A Certificateholders.
None of the Company, the Servicer or any of their affiliates will have any obligation with respect to any certificate or other obligation secured by or payable from payments on the Certificates.] [For the Class 2-A Certificates] [This Certificate is payable solely from the assets of the Trust Fund and the Certificate Guaranty Insurance Policy, and does not represent an obligation of or interest in [ ], the Servicer, the Trustee referred to below or any of their affiliates.