GAP Amount means the difference between the amount to be paid by the lessee under the consumer lease in the event of total loss or destruction of the leased vehicle prior to expiration of the lease term by theft, physical damage, or other occurrence spec- ified in the lease, and the actual cash value or portion thereof received by the lessor from insurance proceeds or from any other person on account of the total loss or destruction of the motor vehi- cle. The term does not include any deductible amount under any applicable insurance policy maintained by the lessee, any past− due payments owed by the lessee at the time of receipt by the lessor of the actual cash value or portion thereof from insurance proceeds or from any other person, or any other amount due under the lease resulting from default by the lessee.
GAP Amount means the amount of the outstanding Principal Balance of a Receivable which Seller determines is required to be cancelled pursuant to HNB GAP (as described in the related contract or other documents), if the Obligor on such Receivable has purchased HNB GAP.
GAP Amount means the difference between the primary carrier’s physical damage insurance payment for a theft or total loss and the Unpaid Net Balance of the Retail Installment Contract and Security Agreement. If you are entitled to collect the same from others, including but not limited to, primary and other insurance, or salvage sale, that portion of the payment will not be covered in the GAP settlement. GAP does not cover deductions made by the primary insurance carrier for prior damage that has already been paid to you or due to prior salvaged title. Amount waived shall not exceed
Examples of GAP Amount in a sentence
No GAP Amount will be Waived until the charge has been dismissed or adjudicated not guilty.
A refund will be due if the Addendum terminates and You will receive a refund based on the earliest date of any of the following:1) Payment or prepayment in full of the Financing Contract.2) Expiration of any redemption period following the repossession or surrender of the Vehicle.3) In the event of a Constructive Total Loss or theft of the Vehicle, after the GAP Amount has been Waived or the total denial of a claim based on an exclusion.
If the Vehicle is not available for inspection or appraisal, the GAP Amount will not be Waived except when the Constructive Total Loss is due to unrecovered theft and a police report has been filed.
The Committee observed that, as at 31 March 2018, 13 States Parties were in arrears and would therefore not be able to vote in accordance with article 112, paragraph 8 of the Rome Statute.
Contact information: toll free (800) 325-7484, fax (816) 347-9207, or email gapclaims@mbpnetwork.com.Definitions: GAP Amount is amended as follows: “The GAP Amount includes the amount of Your physical damage deductible on the Primary Carrier’s policy up to $1,000.” is deleted for leased vehicles.
More Definitions of GAP Amount
GAP Amount shall have the meaning set forth in Section 13.1(a)(xv) hereof.
GAP Amount means the difference between the Primary Insurance carrier’s physical damage insurance payment for a Loss or Unrecovered Theft or, if uninsured, the Vehicle’s Actual Cash Value, and the Unpaid Net Balance of the installment loan. If you are entitled to collect the same from others, including, but not limited to, primary and other insurance, or salvage sale, that portion of the payment will not be included in the GAP settlement.
GAP Amount means the difference between the Primary Insurance carrier's physical damage insurance payment for an Unrecovered Theft, Total Loss or Constructive Total Loss or, if uninsured, the Eligible Collateral's Actual Cash Value, and the Unpaid Net Balance of the Installment Loan. For purposes of this GAP waiver, if a Primary Insurance carrier denies coverage due to an excluded driver clause, then the GAP amount will be determined by subtracting the Actual Cash Value of the Eligible Collateral from the Unpaid Net Balance. If the Actual Cash Value of the Eligible Collateral on the Date of Loss is greater than or equal to the Unpaid Net Balance, no waiver of the GAP Amount will be provided under this GAP Waiver Addendum. If you are entitled to collect a portion of the GAP Amount from others, including but not limited to, primary and other insurance, or salvage sale, that payment received from others will not be covered in the GAP Amount settlement. The GAP Amount does not cover deductions made by the Primary Insurance carrier for towing, storage, or prior damage that has already been paid to you. The maximum GAP Amount waived shall not exceed $50,000.00.
GAP Amount has the meaning set forth in Section 6.5(k)(ii).
GAP Amount means the difference between the primary carrier's physical damage insurance payments for a Constructive Total Loss or, if uninsured, the collateral's Actual Cash Value and the Unpaid Net Balance of the Installment Sales Contract as of the Date of Loss. lf you are entitled to collect amounts from others, including but not limited to, primary and other insurance, or salvage sale including tax and license, that portion of the payment will not be covered in the GAP settlement. GAP does not cover deductions made by the Primary Insurance carrier for prior damage or due to prior salvaged title not disclosed on the retail installment contract. Amount waived shall not exceed $20,000 in total.
GAP Amount means the amount, if any, by which $2 million exceeds the sum of (i) the gross proceeds received by the Company in respect of Series B Preferred Stock upon closing under the Purchase Agreement, less $2 million, and (ii) the gross proceeds received by the Company from third parties in respect of the Secondary Placement (described as the Private Placement in Section 6.1 of the Purchase Agreement) or any other private placement of capital stock of the Company that occurs prior to the Trigger Date. For clarity, if the Gap Amount is a negative number, it shall be zero.
GAP Amount means with respect to any such other Company Takeover Proposal the product of (A) (x) $22 less (y) the sum of (I) the fair market value on the Transaction Date of the aggregate consideration per share of Company Common Stock provided directly or indirectly to the Company's common stockholders by such Company Takeover Proposal (without giving effect to any per share holdback, escrow or similar provisions of such Company Takeover Proposal) and (II) if the Company Takeover Proposal is for less than substantially all of the Company's equity securities or assets, the fair market value per share of Company Common Stock on the Transaction Date of the equity securities and/or assets of the Company retained by the Company's common stockholders, multiplied by (B) the number of outstanding shares of Company Common Stock on the Transaction Date.