INSURANCE SETTLEMENTS definition

INSURANCE SETTLEMENTS. Any monies payable to the Broker by any insurance company related to the Brokers vehicle shall be by this Agreement directly assigned to the Company and the Broker shall be required to release any interest in such operation if required to do so by the Company. Any payments made under any insurance policy may be used by the Company in reduction of any monies owed by the Broker under this Agreement. The Company undertakes to pay to the Broker the remainder of any insurance monies received with regard to damage to the Brokers vehicle or equipment while registered in Company name forthwith.
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INSURANCE SETTLEMENTS. Funding Trust 2000 (the "2000 Trust") a one-time fee of .0033 1/3% of the principal amount of Trust Certificates of the 2000 Trust sold pursuant to the public offering of Trust Certificates for the 2000 Trust, payable in installments on a monthly basis against the amount owed, at the rate of .0033 1/3% of the Trust Certificates sold by the Trust in the previous month, on the fifth (5th) business day of each succeeding month, during the offering period of the Trust Certificates. Such fee is solely the responsibility of the Company and shall be paid solely to CCL.
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INSURANCE SETTLEMENTS means any and all judgments entered, and any and all settlement arrangements entered into from time to time by the Borrower, or any Subsidiary, with respect to certain claims and litigation to which the Borrower or any Subsidiary is a party and which are described in the Side Letter, as such judgments and settlement arrangements may be modified, amended or supplemented.
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Examples of INSURANCE SETTLEMENTS in a sentence

  • The Placement Agent shall instruct subscribers to make, and the Escrow Agent shall only be required to accept for deposit, checks, bank drafts or money orders for the subscription price for the Certificates (the "Checks") payable to the order of "THE BANK OF NEW YORK ESCROW ACCOUNT FOR INSURANCE SETTLEMENTS FUNDING TRUST 2000".

  • By: _______________________________ Title: EXHIBIT 2.1 FORM OF ASSIGNMENT OF INSURANCE SETTLEMENTS ASSIGNMENT No. ____ OF INSURANCE SETTLEMENTS, dated as of _______, 2000, by CAPITAL RESOURCE GROUP ONE, LLC, ("Capital"), to THE BANK OF NEW YORK, a state banking association organized and existing under the laws of the State of New York (the "Trustee") pursuant to the Pooling and Servicing Agreement referred to below.

  • Any Checks received that are made payable to a party other than "THE BANK OF NEW YORK ESCROW ACCOUNT FOR INSURANCE SETTLEMENTS FUNDING TRUST 2000" shall be returned to the Placement Agent.