The Certificate Insurer. Any right conferred to the Certificate Insurer hereunder shall be suspended during any period in which the Certificate Insurer is in default in its payment obligations under the Insurance Policy. At such time as the Certificates are no longer outstanding under the Pooling and Servicing Agreement, and no amounts owed to the Certificate Insurer under any Basic Document remain unpaid, the Certificate Insurer's rights hereunder shall terminate. The Certificate Insurer is an intended third-party beneficiary of this Agreement.
Appears in 4 contracts
Sources: Transfer Agreement (Eqcc Asset Backed Corp), Transfer Agreement (Eqcc Asset Backed Corp), Transfer Agreement (Eqcc Asset Backed Corp)
The Certificate Insurer. Any right conferred to the Certificate Insurer hereunder shall be suspended during any period in which the Certificate Insurer is in default in its payment obligations under the Certificate Insurance Policy, and its rights during such period shall vest in the Majority in Aggregate Voting Interest. At such time as the Certificates are no longer outstanding under the Pooling and Servicing Agreementoutstanding, and no amounts owed to the Certificate Insurer under any Basic Document hereunder remain unpaidunpaid and the Certificate Insurance Policy has expired in accordance with its terms, the Certificate Insurer's rights hereunder shall terminate. The Certificate Insurer is an intended third-party beneficiary of this Agreement.
Appears in 4 contracts
Sources: Pooling and Servicing Agreement (Eqcc Home Equity Loan Trust 1999-1), Pooling and Servicing Agreement (Eqcc Home Equity Loan Trust 1998-3), Pooling and Servicing Agreement (Eqcc Asset Backed Corp)
The Certificate Insurer. Any right conferred to the Certificate Insurer hereunder shall be suspended during any period in which the Certificate Insurer is in default in its payment obligations under the Certificate Insurance Policy, and its rights during such period shall vest in the Majority in Aggregate Voting Interest. At such time as the Certificates are no longer outstanding under the Pooling and Servicing Agreementoutstanding, and no amounts owed to the Certificate Insurer under any Basic Document hereunder remain unpaidunpaid and the Certificate Insurance Policy has expired in accordanc with its terms, the Certificate Insurer's rights hereunder shall terminate. The Certificate Insurer is an intended third-party beneficiary of this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Eqcc Receivables Corp)
The Certificate Insurer. Any right conferred to the Certificate Insurer hereunder shall be suspended during any period in which the a Certificate Insurer is in default in its payment obligations under the Insurance PolicyDefault exists. At such time as the Certificates are no longer outstanding under the Pooling and Servicing Agreementhereunder, and no amounts owed to the Certificate Insurer hereunder or under any Basic Document the I & I Agreements remain unpaid, the Certificate Insurer's rights hereunder shall terminate. The Certificate Insurer is an intended third-party beneficiary of this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Asset Funding Corp)
The Certificate Insurer. Any right conferred to the Certificate Insurer hereunder shall be suspended during any period in which the Certificate Insurer is in default in its payment obligations under the any 145 Certificate Insurance Policy, and its rights during such period shall vest in the Majority in Aggregate Voting Interest. At such time as the Certificates are no longer outstanding under the Pooling and Servicing Agreementoutstanding, and no amounts owed to the Certificate Insurer under any Basic Document hereunder remain unpaidunpaid and the Certificate Insurance Policies have expired in accordance with their terms, the Certificate Insurer's rights hereunder shall terminate. The Certificate Insurer is an intended third-party beneficiary of this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Eqcc Receivables Corp)
The Certificate Insurer. Any right conferred to the Certificate Insurer hereunder shall be suspended during any period in which the Certificate Insurer is in default in its payment obligations under the Insurance Policy. At such time as the Certificates are no longer outstanding under the Pooling and Servicing Agreement, and no amounts owed to the Certificate Insurer under any Basic Document remain unpaid, the Certificate Insurer's rights hereunder shall terminate. The Certificate Insurer is an intended third-party beneficiary of this Agreement.. NY1-183394.3 30
Appears in 1 contract