Insurance Deductible Reserve definition

Insurance Deductible Reserve means at any time an amount equal to 8.5% of the portion of the Net Receivables Pool Balance allocable to International Receivables.
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Insurance Deductible Reserve means at any time an amount equal to 8.5% (or, if there shall be any increase in the applicable deductible under the Insurance Policy such greater percentage as the Collateral Agent may determine in its Discretion) of the portion of the Canadian Borrowing Base or the U.S. Borrowing Base, as the case may be (determined for this purpose without reference to the Insurance Deductible Reserve or the Foreign Currency Adjustment), allocable to International Accounts covered by the Insurance Policy.
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Insurance Deductible Reserve means at any time an amount equal to (i) with respect to Accounts located in Canada, $1,650,000 (or such other amount equal to the relevant deductible set forth in the Insurance Policy as amended after the date hereof), (ii) with respect to Accounts located in the United States, $1,650,000 (or such other amount equal to the relevant deductible set forth in the Insurance Policy as amended after the date hereof) and (iii) with respect to International Accounts, the difference between (x) 10% (or such other percentage as adjusted by the Collateral Agent based on the amount insured set forth in the Insurance Policy as amended after the date hereof) of such Accounts that are Eligible Insured and Letter of Credit Backed Accounts pursuant to clause (i) of the definition thereof minus (y)(1) 85% multiplied by (2) 90% multiplied by (3) the aggregate amount of such Accounts that would be Eligible Insured and Letter of Credit Backed Accounts pursuant to clause (i) of the definition thereof but for having been deemed ineligible pursuant to clauses (f) or (g) of the definition of “Eligible Account”; provided that this clause (iii) shall not be less than zero.
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Examples of Insurance Deductible Reserve in a sentence

  • Insurance Deductible Reserve As of December 31, 2019 and 2018, the Company reserved $0.3 million and $0.6 million, respectively, for insurance deductibles related to open claims that it is probable the Company will pay during the next 12 months.

  • Upon the occurrence of an Event of Default, Lender may apply the Professional Liability Insurance Deductible Reserve Fund to the payment of the Debt in such order and priority, including, without limitation, alternating applications thereof between interest and principal, as Lender shall determine in its sole discretion.

  • Upon the occurrence of an Event of Default, Lender may apply the Casualty Insurance Deductible Reserve Fund to the payment of the Debt in such order and priority, including, without limitation, alternating applications thereof between interest and principal, as Lender shall determine in its sole discretion.


More Definitions of Insurance Deductible Reserve

Insurance Deductible Reserve means at any time an amount equal to (i) with respect to Accounts located in Canada, $1,650,000 or the United States, $2,500,000 (or such other amount equal to the relevant deductible set forth in the Insurance Policy as amended after the date hereof), (ii) with respect to International Accounts located in the United States, $1,650,000, $3,500,000 (or such other amount equal to the relevant deductible set forth in the Insurance Policy as amended after the date hereof) and (iii) with respect to International Accounts, the difference between (x) 10% (or such other percentage as adjusted by the Collateral Agent based on the amount insured set forth in the Insurance Policy as amended after the date hereof) of such Accounts that are Eligible Insured and Letter of Credit Backed Accounts pursuant to clause (i) of the definition thereof minus (y)(1) 85% multiplied by (2) 90% multiplied by (3) the aggregate amount of such Accounts that would be Eligible Insured and Letter of Credit Backed Accounts pursuant to clause (i) of the definition thereof but for having been deemed ineligible pursuant to clauses (f) or (g) of the definition of “Eligible Account”; provided that this clause (iii) shall not be less than zero.
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Related to Insurance Deductible Reserve

  • 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.

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

  • Special Hazard Loss Coverage Amount With respect to the first Distribution Date, $5,000,000. With respect to any Distribution Date after the first Distribution Date, the lesser of (a) the greatest of (i) 1% of the aggregate of the principal balances of the Mortgage Loans, (ii) twice the principal balance of the largest Mortgage Loan and (iii) the aggregate of the principal balances of all Mortgage Loans secured by Mortgaged Properties located in the single California postal zip code area having the highest aggregate principal balance of any such zip code area and (b) the Special Hazard Loss Coverage Amount as of the Closing Date less the amount, if any, of Special Hazard Losses allocated to the Certificates since the Closing Date. All principal balances for the purpose of this definition will be calculated as of the first day of the calendar month preceding the month of such Distribution Date after giving effect to Scheduled Payments on the Mortgage Loans then due, whether or not paid.

  • Insurance Amount has the meaning set forth in Section 6.11(c).

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

  • 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.

  • Insurance Costs means the sums described in paragraph 1.1 of Part 5 of the Schedule;

  • Indemnity Cap has the meaning set forth in Section 10.3(a).

  • Net Insurance/Condemnation Proceeds means an amount equal to: (a) any Cash payment or proceeds (including Cash Equivalents) received by the Borrower or any of its Restricted Subsidiaries (i) under any casualty insurance policy in respect of a covered loss thereunder of any assets of the Borrower or any of its Restricted Subsidiaries or (ii) as a result of the taking of any assets of the Borrower or any of its Restricted Subsidiaries by any Person pursuant to the power of eminent domain, condemnation, expropriation or otherwise, or pursuant to a sale of any such assets to a purchaser with such power under threat of such a taking, minus (b) (i) any actual out-of-pocket costs incurred by the Borrower or any of its Restricted Subsidiaries in connection with the adjustment, settlement or collection of any claims of the Borrower or the relevant Restricted Subsidiary in respect thereof, (ii) payment of the outstanding principal amount of, premium or penalty, if any, and interest and other amounts on any Indebtedness (other than the Loans, Indebtedness outstanding with respect to the Second Lien Term Loans and any Indebtedness secured by a Lien on the Collateral that is pari passu with or expressly subordinated to the Lien on the Collateral securing any Secured Obligation) that is secured by a Lien on the assets in question and that is required to be repaid or otherwise comes due under the terms thereof as a result of such loss, taking or sale, (iii) in the case of a taking, the reasonable out-of-pocket costs of putting any affected property in a safe and secure position, (iv) any selling costs and out-of-pocket expenses (including reasonable broker’s fees or commissions, legal fees, transfer and similar Taxes and the Borrower’s good faith estimate of income or other Taxes paid or payable (including pursuant to Tax sharing arrangements or any Tax distribution)) in connection with any sale or taking of such assets as described in clause (a) of this definition, (v) any amounts provided as a reserve in accordance with GAAP against any liabilities under any indemnification obligation or purchase price adjustments associated with any sale or taking of such assets as referred to in clause (a) of this definition (provided that to the extent and at the time any such amounts are released from such reserve (other than in connection with a payment in respect of such liability), such amounts shall constitute Net Insurance/Condemnation Proceeds) and (vi) the pro rata portion of such Net Insurance/Condemnation Proceeds (calculated without regard to this clause vi) attributable to minority interests and not available for distribution to or for the account of the Borrower and the Restricted Subsidiaries as a result thereof.

  • Casualty Amount means five hundred thousand Dollars (USD500,000) (or the equivalent in any other currency);

  • Indemnity Amount means the amount of any indemnification obligation payable under the Basic Documents.

  • Loss Adjustment Expense means costs and expenses incurred by the Company in connection with the investigation, appraisal, adjustment, settlement, litigation, defense or appeal of a specific claim or loss, or alleged loss, including but not limited to:

  • Insured Amount As defined in the Policy.

  • Insurance adjuster means a person who directs or conducts the investigation, negotiation, or settlement of a claim under an insurance policy other than life insurance or an annuity, on behalf of an insurer, policyholder, or a claimant under an insurance policy.

  • Cumulative Insurance Payments As defined in the Series Supplement.

  • Excess Fraud Loss Any Fraud Loss, or portion thereof, which exceeds the then applicable Fraud Loss Amount.

  • Net Insurance Proceeds Insurance Proceeds, to the extent such proceeds are not to be applied to the restoration of the related Mortgaged Property or released to the Mortgagor in accordance with the express requirements of the Mortgage or Note or other Loan Documents included in the Mortgage File or in accordance with the Servicing Standard, or with respect to the environmental insurance policy, applied to pay any costs, expenses, penalties, fines or similar items; provided that, in the case of an Outside Serviced Mortgage Loan, “Net Insurance Proceeds” under this Agreement shall be limited to any related Insurance Proceeds that are received by the Trust Fund in connection with such Outside Serviced Mortgage Loan, pursuant to the allocations set forth in the related Co-Lender Agreement.

  • 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.

  • Liability Cap has the meaning ascribed to it in paragraph 1 of Schedule 9;

  • Covered Losses means any and all losses, assessments, fines, penalties, administrative orders, obligations, judgments, amounts paid in settlement, costs, expenses, liabilities and damages (whether actual, consequential or punitive), including interest, penalties, reasonable court costs and attorney’s fees, disbursements and costs of investigations, deficiencies, levies, duties and imposts.

  • Bankruptcy Loss Coverage Amount As of any Determination Date, the Bankruptcy Loss Coverage Amount shall equal the Initial Bankruptcy Coverage Amount as reduced by (i) the aggregate amount of Bankruptcy Losses allocated to the Certificates since the Cut-off Date and (ii) any permissible reductions in the Bankruptcy Loss Coverage Amount as evidenced by a letter of each Rating Agency to the Trustee to the effect that any such reduction will not result in a downgrading of the then current ratings assigned to the Classes of Certificates rated by it.

  • Insurance Coverage Contractor shall, at Contractor’s sole expense, procure, maintain and keep in force for the duration of this Contract the following insurance conforming to the minimum requirements specified below. Unless specified herein or otherwise agreed to by the City, the required insurance shall be in effect prior to the commencement of work by Contractor and shall continue in force as appropriate until the latter of:

  • Allocated Loss Adjustment Expenses or “ALAE” means all court costs and court expenses; pre- and post-judgement interest; fees for service of process; attorneys’ fees; cost of undercover operative and detective services, costs of employing experts; costs for legal transcripts; costs for copies of any public records; costs of depositions and court-reported or recorded statements; costs and expenses of subrogation; and any similar fee, cost or expense reasonably chargeable to the investigation, negotiation, settlement or defense of a loss or a claim or suit against you, or to the protection and perfection of your or our subrogation rights.

  • Insurance Add-On Amount means the premium charged to the Obligor in the event that the Servicer obtains Force-Placed Insurance pursuant to Section 4.4.

  • Indemnity Escrow Amount means $3,000,000.