full insurable value definition

full insurable value means one hundred percent (100%) of the actual replacement cost of the Property (excluding foundation and excavation costs and costs of underground flues, pipes, drains and other uninsurable items).

full insurable value means one hundred percent (100%) of the actual replacement cost of the Property, including tenant improvements (excluding excavation costs and costs of underground flues, pipes, drains and other uninsurable items). For purposes of the foregoing requirements, the policy coverages and amounts existing at the closing of the Loan shall satisfy the property insurance requirements in effect as of the date hereof.

full insurable value means replacement cost, less the cost of footings, foundations and other structures below grade.

Examples of full insurable value in a sentence

• Full Insurable Value shall mean actual replacement cost of the real property (exclusive of the cost of non-insurable portions thereof, such as excavation, foundations and footings).

• Such insurance shall cover the Demised Premises in an amount not less than the Full Insurable Value of the Demised Premises covering, at a minimum, the perils insured under the ISO Special Causes of Loss Form CP 10 30, or the equivalent, including coverage for loss caused by enforcement of ordinances or laws to the extent it is commercially available.

• Conditionsa) Our liability is limited to a maximum of the Sum Insured at the Situation as shown in the Certificate of Insurance.b) This clause will not apply if the amount of any Damage does not exceed 10% of the Sum Insured at the Situation.An illustrative but not exhaustive example of the application of this clause is set out below.The insured item has a Full Insurable Value of $200,000.Taking 80% of that Full Insurable Value = $160,000.

• Increase in building costs means the difference between the cost of reinstatement actually incurred in accordance with the settlement of claims provisions of this section, and the cost of reinstatement that would have applied had the event not occurred, and c) the Sum Insured for the Property Insured accurately reflects the Full Insurable Value.

• At its own expense, Lessee shall cause property insurance on the Equipment to be carried and maintained with an insurer(s) of recognized responsibility, licensed or otherwise authorized to write such insurance under the laws of the State, in an amount equal to the Full Insurable Value of the Equipment.

More Definitions of full insurable value

full insurable value means the actual replacement cost (excluding the costs of foundation, footing, excavation, paving, landscaping and other similar, noninsurable improvements) of the insurable properties in question.

full insurable value means the actual replacement cost of the Project, less physical depreciation and exclusive of land, excavations, footings, foundations and parking lots, but, to the extent obtainable, in no event shall such value be less than the principal amount of the Project Bonds at the time outstanding.

full insurable value means the actual replacement cost of the Property (as defined in the Deed of Trust) (excluding foundation and excavation costs and costs of underground flues, pipes, drains and other uninsurable items); and as to Eligible Projects naming the Administrative Agent on behalf of the Lenders as loss payee in the mortgagee clause thereof;

full insurable value means the actual replacement cost of the Mortgaged Property (excluding foundation and excavation costs and costs of underground flues, pipes, drains and other uninsurable items). The deductible amount under such policy or policies shall not exceed $5,000.00. No policy of insurance shall be written such that the proceeds thereof will produce less than the minimum coverage required by this section by reason of coinsurance provisions or otherwise. The “full insurable value” shall be determined from time to time at the request of Lender, by an appraiser or appraisal company or one of the insurers, who shall be selected and paid for by Borrower but subject to Lender’s approval. Such insurance policy shall name Lender as mortgagee.

full insurable value as used in this Lease shall mean the actual replacement value of the applicable Facility (including all improvements) and every portion thereof, including the cost of compliance with changes in zoning and building codes and other laws and regulations, demolition and debris removal and increased cost of construction. In addition, the casualty insurance required under this Section 4.2 will include an agreed amount endorsement such that the insurance carrier has accepted the amount of coverage and has agreed that there will be no co-insurance penalty.

full insurable value means full actual replacement cost less physical depreciation.

full insurable value means full actual replacement cost less physical depreciation. "Hazardous Substances" shall mean "hazardous substances" as defined in CERCLA. "Impositions" means all taxes and assessments, general and special, which may be lawfully taxed, charged, levied, assessed or imposed upon or against or payable for or in respect of the Project or any part thereof, or any improvements at any time thereon or the Tenant's interest therein, including any new lawful taxes and assessments not of the kind enumerated above to the extent that the same are lawfully made, levied or assessed in lieu of or in addition to taxes or assessments now customarily levied against real or personal property, and further including all water and sewer charges, assessments and other governmental charges and impositions whatsoever, foreseen or unforeseen, which, if not paid when due, would encumber the Issuer's interest in the Project.