Required Deductible definition

Required Deductible has the meaning set forth in Section 6.1(a)(i) hereof.
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Required Deductible. As defined in Section 3.01(a)(i) hereof. Required Rating: A rating by S&P of not less than “A-1+” if the term of the related Letter of Credit, bond or other instrument is no longer than three (3) months or if S&P does not rate the issuer of such Letter of Credit, bond or other instrument, a comparable rating from the other Rating Agencies or if the term of such Letter of Credit, bond or other instrument is in excess of three (3) months, a rating by the applicable Rating Agencies of not lower than “A”, “A” and “A2” by S&P, Fitch and/or Xxxxx’x, respectively, or, if a Securitization has not occurred, such other rating that is reasonably acceptable to Mortgagee or, if a Securitization shall have occurred, such other rating that the Rating Agencies shall have confirmed in writing will not, in and of itself, result in a downgrade, withdrawal or qualification of the then-current ratings assigned in connection with such Securitization. Requirements: All laws, ordinances, orders, covenants, conditions, restrictions regulations and other requirements, now or hereafter enacted, that pertain to or affect Mortgagor, the Property or any part of the Property or the Use, including, without limitation, planning, zoning, subdivision, environmental, air quality, flood hazard, fire safety, handicapped facilities, building, health, fire, traffic, safety, wetlands, coastal and other governmental or regulatory rules, laws, ordinances, statutes, codes, regulations and requirements applicable to Mortgagor or the Property, including permits, licenses, certificates of occupancy and/or other certificates that may be necessary from time to time to comply with any of the these requirements. Requirements of Environmental Laws: As defined in Section 6.06 hereof. Restoration: As defined in Section 7.02 hereof. S&P: Standard & Poor’s Ratings Services, a division of The XxXxxx-Xxxx Companies, Inc., and its successors. Secured Indebtedness: As defined in the Recitals hereof. Securities: Any certificates, notes or other securities issued in connection with a Securitization. Securitization: Any transaction in which all or any portion of the Loan is deposited into a trust or other entity (including a REMIC trust) and such trust or other entity issues Securities to investors. Servicer: As defined in Section 12.06 hereof. Servicing Agreement: As defined in Section 12.06 hereof. Space Leases: As defined in Section 15.03(E)(i) hereof.
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Required Deductible shall have the meaning set forth in Section 2.2(d).
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Examples of Required Deductible in a sentence

  • No. 1) The all-risk property insurance may contain a deductible of $250,000 (the “Required Deductible”) or such higher deductible if the Mortgagor provides the lender with cash or a letter of credit in an amount equal to the difference between the actual deductible and the Required Deductible.

  • In addition, the borrower is permitted to maintain a retention amount in addition to the Required Deductible, so long as (A) the retention amount is aggregated annually, (B) the retention amount remains pre-funded at all times during the term of the loan, and (C) the borrower has submitted evidence satisfactory to the lender and rating agencies of such pre-funded arrangement at the request of the lender or rating agency: $10,000,000 aggregate deductible, subject to a $5,000,000 per occurrence deductible.

  • Borrower hereby acknowledges and agrees that it shall deliver evidence of insurance coverage required by the Agreement Regarding Required Insurance, including evidence of the Required Deductible, in a form reasonably satisfactory to Lender, using commercial standards customarily applied by prudent institutional mortgage lenders for similar loans, on or before the date that is sixty (60) calendar days after the date hereof.

  • In addition, the related Mortgagor is permitted to utilize a retention amount (up to a $10,000,000 aggregate deductible and subject to a $5,000,000 per occurrence deductible) in addition to the Required Deductible, so long as (1) the retention amount is aggregated annually, (2) the retention amount remains pre-funded at all times during the term of the Mortgage Loan, and (3) such Mortgagor has submitted evidence satisfactory Rep.

  • Effective April 1, 1997, under the paragraph entitled Required Deductible and Copayment for Prescription Drugs in Appendix I, Part B-Costs, the family annual deductible increases from $25 to $50.

  • Required Deductible and Copayment For Prescription Drugs Effective May 1, 1992, a $25 annual deductible per family must be met before the Plan pays for any prescriptions obtained under the prescription card program.

  • The Woodlands (Loan No. 7) The loan documents permit a property insurance deductible (including terrorism insurance) up to $500,000 (the “Required Deductible”), or a higher deductible if the Mortgagor provides the lender with cash or a letter of credit in an amount equal to the difference between the actual deductible and the Required Deductible.

  • Borrower further agrees that Borrower’s failure to deliver evidence of insurance as required by the Agreement Regarding Required Insurance, including evidence of the Required Deductible, shall constitute an “Optional Default” under the provisions of Section 7.1.a of the Deed of Trust, but that the Borrower shall not be entitled to the cure period set forth in Section 7.1.a.(ii) for Borrower’s failure to perform the obligations required under this Section 16.


More Definitions of Required Deductible

Required Deductible means a deductible amount of Indemnifiable Damages to be borne by any of the Cirrus Indemnitees before such indemnitees are able to collect under the Indemnifiable Damages Insurance. In accordance with the terms of the Escrow Agreement, on the date fifteen months following the Closing Date (or, if such date is not on a Business Day, the first Business Day thereafter), the Escrow Agent will deliver all shares of Cirrus Common Stock remaining in the Indemnity Fund to the Shareholders in proportionate amounts reflecting the number of shares of Cirrus's Common Stock initially withheld from each Shareholder and originally delivered to the Escrow Agent pursuant to this Section 2.2(d) at the addresses listed on the Company's stock records or to an address or account designated by any such Shareholder to the Escrow Agent in writing at least ten (10) Business Days prior to such date. Subject to and in accordance with the terms of the Escrow Agreement, the Escrow Agent may withhold from such delivery the equivalent of any amounts then in dispute relating to indemnification obligations arising under this Agreement, provided that the withheld amount, to the extent not applied in satisfaction of indemnification obligations, shall be delivered to the Shareholders as described above promptly upon resolution of such dispute.
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Related to Required Deductible

  • Deductible has the meaning set forth in Section 11.1(e).

  • Covered Debt Amount means, on any date, the sum of (x) all of the Revolving Credit Exposures of all Lenders on such date plus (y) the aggregate principal amount (including any increase in the aggregate principal amount resulting from payable-in-kind interest) of Other Covered Indebtedness outstanding on such date.

  • Normal Minimum Generation means the lowest output level of a generating resource under normal operating conditions.

  • Deductible Amount means, with respect to any Insuring Agreement, the amount set forth under the heading “Deductible Amount” in Item 3 of the Declarations or in any Rider for such Insuring Agreement, applicable to each Single Loss covered by such Insuring Agreement.

  • High Deductible Health Plan means a Health Plan as defined by 26 USC § 223(c)(2)(A) that also is a Qualified Health Plan.

  • Initial Covered Debt means the Corporation’s 6.25% Notes due 2036, CUSIP No. 000000XX0.

  • Minimum Generation Emergency means an Emergency declared by the Office of the Interconnection in which the Office of the Interconnection anticipates requesting one or more generating resources to operate at or below Normal Minimum Generation, in order to manage, alleviate, or end the Emergency.

  • Adjusted Covered Debt Balance means, on any date, the aggregate Covered Debt Amount on such date minus the aggregate amount of Cash and Cash Equivalents included in the Portfolio Investments held by the Obligors (provided that Cash Collateral for outstanding Letters of Credit shall not be treated as a portion of the Portfolio Investments).

  • Minimum Takedown Threshold shall have the meaning given in Section 2.1.4.

  • Maximum Generation Emergency means an Emergency declared by the Office of the Interconnection to address either a generation or transmission emergency in which the Office of the Interconnection anticipates requesting one or more Generation Capacity Resources, or Non- Retail Behind The Meter Generation resources to operate at its maximum net or gross electrical power output, subject to the equipment stress limits for such Generation Capacity Resource or Non-Retail Behind The Meter resource in order to manage, alleviate, or end the Emergency.

  • Normal Maximum Generation means the highest output level of a generating resource under normal operating conditions.

  • Minimum Threshold means the average daily yield on the 10 Year Treasury Note (as reported in the Bloomberg GT10 index) over the Award Period.

  • Covered Expense means expense incurred only for the following:

  • Maximum Program Amount means Common Shares with an aggregate Sales Price of the lesser of (a) the number or dollar amount of Common Shares registered under the effective Registration Statement (defined below) pursuant to which the offering is being made, (b) the number of authorized but unissued Common Shares (less Common Shares issuable upon exercise, conversion or exchange of any outstanding securities of the Company or otherwise reserved from the Company’s authorized capital stock), (c) the number or dollar amount of Common Shares permitted to be sold under Form S-3 (including General Instruction I.B.6 thereof, if applicable), or (d) the number or dollar amount of Common Shares for which the Company has filed a Prospectus (defined below).

  • Covered Debt means (a) at the date of this Replacement Capital Covenant and continuing to but not including the first Redesignation Date, the Initial Covered Debt and (b) thereafter, commencing with each Redesignation Date and continuing to but not including the next succeeding Redesignation Date, the Eligible Debt identified pursuant to Section 3(b) as the Covered Debt for such period.

  • Excess Loss The amount of any (i) Fraud Loss realized after the Fraud Loss Coverage Termination Date, (ii) Special Hazard Loss realized after the Special Hazard Coverage Termination Date or (iii) Bankruptcy Loss realized after the Bankruptcy Coverage Termination Date.

  • Covered Loss or “Covered Losses” means an accidental death, dismemberment, or other Injury covered under the Policy.

  • Maximum Benefit Amount means the maximum amount payable for coverage provided to You as shown in the Schedule of Benefits.

  • Aggregate Loss Severity Percentage With respect to any Distribution Date, the percentage equivalent of a fraction, the numerator of which is the aggregate amount of Realized Losses incurred on any Mortgage Loans from the Cut-off Date to the last day of the preceding calendar month and the denominator of which is the aggregate principal balance of such Mortgage Loans immediately prior to the liquidation of such Mortgage Loans.

  • Fraud Loss Coverage Amount As of the Closing Date, $2,500,000, subject to reduction from time to time, by the amount of Fraud Losses allocated to the Certificates. In addition, on each anniversary of the Cut-off Date, the Fraud Loss Coverage Amount will be reduced as follows: (a) on the first, second, third and fourth anniversaries of the Cut-off Date, to an amount equal to the lesser of (i) 1.00% of the then current Stated Principal Balance of the Mortgage Loans in the case of the first and second anniversaries and 0.50% of the then-current Stated Principal Balance of the Mortgage Loans in the case of the third and fourth such anniversaries and (ii) the excess of the Fraud Loss Coverage Amount as of the preceding anniversary of the Cut-off Date over the cumulative amount of Fraud Losses allocated to the Certificates since such preceding anniversary; and (b) on the fifth anniversary of the Cut-off Date, to zero.

  • Highest Required Investment Category (i) With respect to ratings assigned by Moody’s, “Aa2” or “P-1” for one month instruments, “Aa2” and “P-1” for three month instruments, “Aa3” and “P-1” for six month instruments and “Aa2” and “P-1” for instruments with a term in excess of six months, (ii) with respect to rating assigned by S&P, “A-1” for short-term instruments and “A” for long-term instruments, and (iii) with respect to rating assigned by Fitch (if such investment is rated by Fitch), “F-1+” for short-term instruments and “AAA” for long-term instruments.