MBI » Topics » Miscellaneous:

This excerpt taken from the MBI 10-K filed Mar 16, 2005.

Miscellaneous:

 

17.1. This Agreement shall be governed by the laws of England.

 

17.2. The parties hereto agree to execute and deliver such further instruments and do such further acts as may be necessary and proper to carry out the purposes of this Agreement.

 

17.3. If any provision of this Agreement or the applicability thereto to any person or circumstance is held invalid, the remainder of this Agreement, including the remainder of the section in which such provision appears, or the applicability of such provision to those persons or circumstances, shall not be affected thereby.

 

17.4. This Agreement contains the entire understanding of the parties with respect to the subject matter hereto. There are no restrictions, promises, warranties, covenants or undertakings with respect to such subject matter, other than those expressly set forth herein. This Agreement supersedes all prior agreements and understandings between the parties with respect to such subject matter. This Agreement is binding on and shall inure to the benefit of the parties hereto, their successors and assigns; provided, however, that neither party may voluntarily assign this Agreement without (i) the prior written consent of the other and (ii) without obtaining confirmation from any rating agency that assigns a rating to the Ceding Company at the time of any proposed assignment (at the moment Standard & Pools Corporation, Moody’s Investors Service Inc. and Fitch) that such assignment will not result in a downgrade of the ratings assigned by such rating agency to the Ceding Company as in effect immediately prior to such assignment.


MBIA U.K. INSURANCE LIMITED
By:  

/s/ Phil Sullivan


    Director
MBIA INSURANCE CORPORATION
By:  

/s/ Ram D. Wertheim


    Managing Director
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