Fraud Coverage. During the period prior to the first anniversary of the Cut-Off Date, 2.00% of the aggregate principal balance of the Mortgage Loans as of the Cut-Off Date (the "Initial Fraud Coverage"), reduced by Fraud Losses allocated to the Certificates since the Cut-Off Date; during the period from the first anniversary of the Cut-Off Date to (but not including) the fifth anniversary of the Cut-Off Date, the amount of the Fraud Coverage on the most recent previous anniversary of the Cut-Off Date (calculated in accordance with the second sentence of this paragraph) reduced by Fraud Losses allocated to the Certificates since such anniversary; and during the period on and after the fifth anniversary of the Cut-Off Date, zero. On each anniversary of the Cut-Off Date, the Fraud Coverage shall be reduced to the lesser of (i) on the first, second, third and fourth anniversaries of the Cut-Off Date, 1.00% of the aggregate principal balance of the Mortgage Loans as of the Due Date in the preceding month and (ii) the excess of the Initial Fraud Coverage over cumulative Fraud Losses allocated to the Certificates since the Cut-Off Date. The Fraud Coverage may be reduced upon written confirmation from the Rating Agencies that such reduction will not adversely affect the then current ratings assigned to the Certificates by the Rating Agencies.
Fraud Coverage. As of the Cut-Off Date approximately $6,246,522, and thereafter, the Fraud Coverage will generally be equal to (1) prior to the third Anniversary, an amount equal to (a) 1.00% of the aggregate Principal Balance of all Loans, as of the Cut-Off Date minus (b) the aggregate amounts allocated to the Certificates with respect to Fraud Losses on such Loans up to such date of determination and (2) from the third to the fifth Anniversary, an amount equal to (a) 0.50% of the aggregate Principal Balance of all of the Loans, as of the Due Date of the calendar month preceding the most recent Anniversary minus (b) the aggregate amounts allocated to the Certificates with respect to Fraud Losses on the Loans since the most recent Anniversary up to such date of determination. On and after the fifth Anniversary, the Fraud Coverage will be zero. The Fraud Coverage may be reduced upon written confirmation from each Rating Agency that such reduction will not adversely affect the then current ratings assigned to the Certificates by each Rating Agency.
Fraud Coverage. During the period prior to the first anniversary of the Cut-Off Date and with respect to Loan Group I, 1.00% of the aggregate principal balance of the Group I Loans as of the Cut-Off Date (the "Initial Group I Fraud Coverage"), reduced by Fraud Losses allocated to the Group I Certificates since the Cut-Off Date; during the period from the first anniversary of the Cut-Off Date to (but not including) the fifth anniversary of the Cut-Off Date, the amount of the Fraud Coverage for Loan Group I on the most recent previous anniversary of the Cut-Off Date (calculated in accordance with the second sentence of this paragraph) reduced by Fraud Losses allocated to the Group I Certificates since such anniversary; and during the period on and after the fifth anniversary of the Cut-Off Date, zero. On each anniversary of the Cut-Off Date, the Fraud Coverage for Loan Group I shall be reduced to the lesser of (i) on the first and second anniversaries of the Cut-Off Date, 1.00%, and on the third and fourth anniversaries of the Cut-Off Date, 0.50% of the aggregate principal balance of the Group I Loans as of the Due Date in the preceding month and (ii) the excess of the Initial Group I Fraud Coverage over cumulative Fraud Losses allocated to the Group I Certificates since the Cut-Off Date. During the period prior to the first anniversary of the Cut-Off Date and with respect to Loan Group II, 1.00% of the aggregate principal balance of the Group II Loans as of the Cut-Off Date (the "Initial Group II Fraud Coverage"), reduced by Fraud Losses allocated to the Group II Certificates since the Cut-Off Date; during the period from the first anniversary of the Cut-Off Date to (but not including) the fifth anniversary of the Cut-Off Date, the amount of the Fraud Coverage for Loan Group II on the most recent previous anniversary of the Cut-Off Date (calculated in accordance with the second sentence of this paragraph) reduced by Fraud Losses allocated to the Group II Certificates since such anniversary; and during the period on and after the fifth anniversary of the Cut-Off Date, zero. On each anniversary of the Cut-Off Date, the Fraud Coverage for Loan Group II shall be reduced to the lesser of (i) on the first and second anniversaries of the Cut-Off Date, 1.00%, and on the third and fourth anniversaries of the Cut-Off Date, 0.50% of the aggregate principal balance of the Group II Loans as of the Due Date in the preceding month and (ii) the excess of the Initial Group II Fraud Coverag...
Examples of Fraud Coverage in a sentence
As can be seen, it will be a comprehensive document embracing the national, regional and the local UDP policy framework, the Best Value Review, Enforcement Operations, PCN Processing, On and Off-street Parking and will conclude with a set of targets and proposals for monitoring performance.
For Telefacsimile Transfer Fraud Coverage, indicate the dollar amount of the callback threshold to the originator of an instruction: $E.
The following FIRST PARTY COVERAGE is added to the policy:Social Engineering Fraud CoverageThe Insurer will pay the Insured Entity for Social Engineering Fraud Loss resulting directly from a Social Engineering Fraud Event, in excess of the applicable retention and within the applicable Limits of Insurance.It is a condition precedent to coverage under the Social Engineering Fraud Coverage that the Insuredattempted to Authenticate the Fraudulent Instruction prior to transferring any Money or Securities.II.
The exclusion in Paragraph A.1. does not apply to Computer Fraud And Funds Transfer Fraud Coverage when attached to your policy.
For example: 1 Fire Loss (.20) + 2 All Other Losses (.20) = .40 Surcharge (the example assumes that the first “All Other” loss has been excluded).The applicable adjusted surcharge is applied to the Total premium including all endorsements and upgraded coverage, but not including charges for Valuable Item Plus, Personal Liability Umbrella Supplement, Identity Fraud Coverage, Workers Compensation or any Regulatory or Governmental Assessment of any type.
More Definitions of Fraud Coverage
Fraud Coverage. As of the Cut-Off Date approximately $3,598,356, and thereafter, the Fraud Coverage will generally be equal to (1) prior to the third Anniversary, an amount equal to 1.00% of the aggregate principal balance of all Loans as of the Cut-Off Date minus the aggregate amounts allocated to the Certificates with respect to Fraud Losses on such Loans up to such date of determination and (2) from the third to the fifth Anniversary, an amount equal to (a) 0.50% of the aggregate principal of all of the Loans as of the most recent Anniversary minus (b) the aggregate amounts allocated to the Certificates with respect to Fraud Losses on the Loans since the most recent Anniversary up to such date of determination. On and after the fifth Anniversary, the Fraud Coverage will be zero. Fraud Coverage may be reduced upon written confirmation from the Rating Agency that such reduction will not adversely affect the then current ratings assigned to the Certificates by the Rating Agency.
Fraud Coverage. For any Distribution Date, an amount equal to (i) the following percentage of the aggregate Scheduled Principal Balance of all Mortgage Loans as of the Due Date in the preceding calendar month (or, in the case of the first Distribution Date, as of the Cut-Off Date): (A) for the period from and including the Cut-Off Date to but excluding the date of the third anniversary of the Cut-Off Date, 1.00% and (B) for the period from and including the date of the third anniversary of the Cut-Off Date to but excluding the fifth anniversary of the Closing Date, 0.50%, minus (ii) the aggregate amount of Fraud Losses allocated to the Certificates on or prior to such Distribution Date. On the date of the fifth anniversary of the Cut-Off Date, and for each Distribution Date thereafter, the Fraud Coverage shall be zero. In no event may the Fraud Coverage be less than zero.
Fraud Coverage. As of the Cut-Off Date, will be $3,583,848.26. As of any date of determination after the Cut-Off Date, the Fraud Coverage will generally be equal to:
Fraud Coverage. As of the Cut-Off Date, $2,440,967. As of any date of determination after the Cut-Off Date, the Fraud Coverage will be equal to:
Fraud Coverage. During the period prior to the first anniversary of the Cut-Off Date, the Fraud Coverage Initial Amount reduced by Fraud Losses allocated to the Certificates; during the period from the first anniversary of the Cut-Off Date to (but not including) the fifth anniversary of the Cut-Off Date, the amount of the Fraud Coverage on the most recent previous anniversary of the Cut-Off Date (calculated in accordance with the second sentence of this definition) reduced by Fraud Losses allocated to the Certificates since such anniversary; and during the period on and after the fifth anniversary of the Cut-Off Date, Fraud Coverage will be zero. On each anniversary of the Cut-Off Date, Fraud Coverage shall be reduced to the lesser of (i) on the first, second, third, and fourth anniversaries of the Cut-Off Date, 1.0% of the aggregate principal balance of the Mortgage Loans as of the Due Date in the preceding month and (ii) the excess of the Fraud Coverage Initial Amount over cumulative Fraud Losses allocated to the Certificates to date. Fraud Coverage may be reduced upon written confirmation from the Rating Agency that such reduction will not adversely affect the then current ratings assigned to the Certificates by the Rating Agency. FRAUD COVERAGE INITIAL AMOUNT: $2,934,144.
Fraud Coverage. For any Distribution Date, an amount equal to (i) the following percentage of the aggregate Scheduled Principal Balance of the Track 1 Loans or the Track 2 Loans, as applicable, as of the Due Date in the preceding calendar month (or, in the case of the first Distribution Date, as of the Cut-Off Date): (A) for the period from and including the Cut-Off Date to but excluding the date of the first anniversary of the Cut-Off Date, 1.00%, (B) for the period from and including the date of the first anniversary of the Cut-Off Date to but excluding the date of the second anniversary of the Cut-Off Date, 1.00%, (C) for the period from and including the date of the second anniversary of the Cut-Off Date to but excluding the date of the third anniversary of the Cut-Off Date, 1.00%, and (D) for the period from and including the date of the third anniversary of the Cut-Off Date to but excluding the date of the fifth anniversary of the Cut-Off Date, 0.50%, minus (ii) the aggregate amount of Fraud Losses allocated to the Track 1 Certificates or the Track 2 Certificates, as applicable, on or prior to such Distribution Date. On the date of the fifth anniversary of the Cut-Off Date, and for each Distribution Date thereafter, the Fraud Coverage shall be zero. In no event may the Fraud Coverage be less than zero.
Fraud Coverage. As of the Cut-Off Date, will be $[_______]. As of any date of determination after the Cut-Off Date, the Fraud Coverage will generally be equal to: