Liability Reduction Fee definition

Liability Reduction Fee means the specified as such on the Details Page or Policies Page, being the optional daily fee payable for any selected Liability Reduction Option; “Liability Reduction Option” means any option offered by the Company from time to time for reducing the applicable Liability Fee, and includes ‘Liability Reduction A’, ‘Liability Reduction B’, ‘Cover One’ and ‘SVR Cover’ as detailed on our Website; “Loss” includes all losses, damages, outgoings, charges, penalties, fines, costs and expenses (including lawyers’ fees and expenses) of whatever description and whether present, unascertained, contingent or prospective and whether or not in the nature of consequential loss; “Material Fact” means any fact about you that had it been disclosed to us might reasonably be expected to have resulted in our refusing to enter into this Agreement; “Excess Kilometre Charge” means an amount charged per kilometre over the ‘kilometre allowance’ as specified in your rental agreement; “One Way Fee” means the fee specified as such on the Details Page or Policies Page as being the applicable fee for returning the Vehicle to an approved depot other than the Pickup Location; “Outback Fee” means the fee specified as such on the Details Page or Policies Page as being payable for using the Vehicle in any Outback Region, and in the absence of any other specification means the sum of $10 per day during the Total Term; “Outback Region” means any outback region or route specified on the Area of Use diagram appearing on the Details Page or Policies Page, and includes any region or route shaded in grey therein; “Permitted Area of Use” means the whole of Australia other than any Prohibited Area; “Pickup Location” means the premises from which you take Possession of the Vehicle on the Start Date or such other premises nominated as such on the Details Page or Policies Page; “Policies Page” means the policies page on our Website; “Possession” means any degree of possession and includes custody; “Prohibited Area” means any area identified as such in this Agreement or on our Policies Page; “Prohibited Area Fee” means the sum of $2,000, or any other sum describes as such on the Details Page or Policies Page; “Refuelling Fee” means a sum equal to the cost of refilling the Vehicle’s fuel tanks, plus a $20 administration fee; “Remote Location Fee” means the sum stated beside each location identified in the definition of ‘Remote Location’, or any other sum specified as such on the Details Page or Policies P...
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Liability Reduction Fee. “ means the daily fee payable for any selected Liability Reduction Option; “Liability Reduction Option“ means any option offered by the Company from time to time for reducing the applicable Liability Fee, and includes ‘Cover One’, ‘Cover Plus’ and ‘SVR Cover’ among others. “Loss“ includes all losses, damages, outgoings, charges, penalties, fines, costs and expenses (including lawyers’ fees and expenses) of whatever description and whether present, unascertained, contingent or prospective and whether or not in the nature of consequential loss; “Material Fact“ means any fact about you that had it been disclosed to us might reasonably be expected to have resulted in our refusing to enter into this Agreement; “One Way Fee“ means the fee specified as such on the Details Page or Policies Page as being the applicable fee for returning the Vehicle to an approved depot other than the Pickup Location; “Permitted Area of Use“ means the whole of Australia other than any Prohibited Area; “Pickup Location“ means the premises from which you take Possession of the Vehicle on the Start Date or such other premises nominated as such on the Details Page or Policies Page; “Policies Page“ means the policies page on our Website and any relevant documents linked on said page; “Possession“ means any degree of possession and includes custody; “Prohibited Area“ means any area identified as such in this Agreement or on our Policies Page; “Prohibited Area Fee“ means the sum of $2,000, or any other sum describes as such
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Liability Reduction Fee means the specified as such on the Details Page or Policies Page, being the optional daily fee payable for any selected Liability Reduction Option; “Liability Reduction Option” means any option offered by the Company from time to time for reducing the applicable Liability Fee, and includes ‘Liability Reduction A’, ‘Liability Reduction B’, ‘Cover One’ and ‘SVR Cover’ as detailed on our Website; “Loss” includes all losses, damages, outgoings, charges, penalties, fines, costs and expenses (including lawyers’ fees and
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Examples of Liability Reduction Fee in a sentence

  • If any amount is due to the Company or remains unpaid, including the Damage Excess payable or the cost of items not covered by the Liability Reduction Fee You selected, You authorise the Company to debit Your credit card with that amount within a reasonable time after the End of the Rental.


More Definitions of Liability Reduction Fee

Liability Reduction Fee means the specified as such on the Details Page or Policies Page, being the daily fee payable for any selected Liability Reduction Option; “Liability Reduction Option” means any option offered by the Company from time to time for reducing the applicable Liability Fee, and includes ‘Liability Reduction 1’, ‘Liability Reduction B’, ‘Cover One’, ‘Cover Plus’ and ‘SVR Cover’ among others, as detailed on our Website; “Loss” includes all losses, damages, outgoings, charges, penalties, fines, costs and expenses (including lawyers’ fees and expenses) of whatever description and whether present, unascertained, contingent or prospective and whether or not in the nature of consequential loss;
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Related to Liability Reduction Fee

  • Termination Fee has the meaning set forth in Section 7.02(a).

  • Reverse Termination Fee has the meaning set forth in Section 7.02(b).

  • Utilization Fee shall have the meaning assigned to such term in Section 2.06(b).

  • Liquidation Fee A fee payable to the Special Servicer with respect to a Liquidated Property or the liquidation of the Mortgage Loan (including, without limitation, all or any portion thereof that constitutes an REO Mortgage Loan), whether through judicial foreclosure, sale or otherwise, or in connection with the sale, discounted pay-off or other liquidation of the Mortgage Loan or Foreclosed Property, as to which the Special Servicer receives any Liquidation Proceeds, Insurance Proceeds and Condemnation Proceeds equal to the product of the Liquidation Fee Rate and the Net Liquidation Proceeds, Insurance Proceeds and Condemnation Proceeds related to such Liquidated Property, the liquidated Mortgage Loan or Foreclosed Property. The Special Servicer will not be entitled to receive a Liquidation Fee in connection with: (i) a repurchase by a Loan Seller of its Loan Seller Percentage Interest in the Trust Loan pursuant to the related Trust Loan Purchase Agreement (so long as such repurchase occurs within the cure period required under the related Trust Loan Purchase Agreement which cure period will not exceed 180 days); (ii) a sale of the Trust Loan, any Companion Loan or any Foreclosed Property by the Special Servicer to itself; (iii) a purchase of the Mortgage Loan by an applicable mezzanine lender pursuant to the purchase option included in the related mezzanine intercreditor agreement or similar agreement; provided that the Mortgage Loan is purchased within 90 days of the date on which the applicable purchase option notice was given to the applicable mezzanine lender; provided, that for the avoidance of doubt, if there are one or more purchase option notices that are delivered subsequent to the initial purchase option notice, as long as the event that resulted in the first purchase option notice has, within the 90 day period from the date the applicable purchase option notice was given to the applicable mezzanine lender, ceased, been cured, been waived by the Servicer or Special Servicer in writing, or otherwise is no longer in effect, such 90-day period shall commence on the date of any subsequent purchase option notice given to the related mezzanine lender; (iv) a purchase of the Trust Loan, a Companion Loan or the Foreclosed Property by the Controlling Class Representative or any affiliate thereof, if such purchase occurs within 90 days after the later of (x) the date on which the Special Servicer first delivers to the Controlling Class Representative for its approval the initial Asset Status Report and (y) the date on which the Special Servicing Loan Event that triggered the Asset Status Report occurred; or (v) the making of a Loss of Value Payment as contemplated by Section 2.9 of this Agreement unless the related Loan Seller does not make the particular Loss of Value Payment with respect to the Trust Loan until after more than 180 days following its receipt of notice or discovery of the Material Breach or Material Document Defect that gave rise to the payment of the particular Loss of Value Payment. Further notwithstanding the above, all Liquidation Fees and Work-out Fees payable with respect to the Mortgage Loan or the Property shall be offset by any Modification Fees collected or earned by the Special Servicer within the prior 24 months (determined as of the closing date of the work-out or liquidation as to which the subject Work-out Fee or Liquidation Fee became payable) in connection with any modification, restructure, extension, waiver, amendment or work-out of the Mortgage Loan, but only to the extent those fees have not previously been deducted from a Work-out Fee or Liquidation Fee.

  • Sponsor Termination Fees means the one-time payment under the Sponsor Management Agreement of a termination fee to one or more of the Sponsors and their Affiliates in the event of either a Change of Control or the completion of a Qualifying IPO.