LOSS CONTINGENCY definition

LOSS CONTINGENCY means an existing condition, situation, or set of circumstances involving uncertainty as to possible Liability to an enterprise that will ultimately be resolved when one or more future events occur or fail to occur.
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LOSS CONTINGENCY shall have the meaning set forth in Section 4(h). (yy) "New Name" shall have the meaning set forth in Section 7(j). (zz) "Party" or "Parties" shall have the meaning set forth in the preamble. (aaa) "Payoff Schedule" shall have the meaning set forth in Section 6(q). (bbb) "PBGC" shall have the meaning set forth in Section 4(r)(i)(B). (ccc) "Pension Plan" shall have the meaning set forth in Section 4(r)(i). (ddd) "Permitted Liens" shall have the meaning set forth in Section 3(a). (eee) "Properties" shall have the meaning set forth in Section 4(z)(i). (fff) "Purchase Price" shall have the meaning set forth in Section 3(b)(A). (ggg) "Purchaser" shall mean BF USB Inc. or any other entity that: (A) (x) owns or controls BF USB Inc.; (y) BF USB Inc. owns or controls; or (z) is owned and controlled by the same parent company or companies or the same ultimate beneficial owner as BF USB Inc., and (B) to which BF USB Inc. may have assigned this Agreement as of the Closing. (hhh) "Reserve Escrow Agreement" shall have the meaning set forth in Section 6(n). (iii) "Seller" shall mean Delicious Brands, Inc. (jjj) "Seller's Assets" shall have the meaning set forth in Section 3(a). (kkk) "Seller Capital Stock" shall have the meaning set forth in Section 4(c). (lll) "Special Reserve Fund" shall have the meaning set forth in Section 6(n). (mmm) "Subsidiary" and "Subsidiaries" shall have the meaning set forth in Section 4(b). (nnn) "Tax Returns" shall have the meaning set forth in Section 4(p).
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LOSS CONTINGENCY shall have the meaning accorded to it by GAAP. All accruals for unpaid vacation pay; premiums for employment insurance; health premiums; accrued wages, salaries and commissions; and employee benefit plan payments have been reflected in the books and records of Seller.
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Examples of LOSS CONTINGENCY in a sentence

  • Direct the FUND to apply the MUNICIPALITY’s share to the FUND’s Aggregate Excess Loss Contingency Fund (A.E.L.C.F.), which provides member municipalities with an available individual contingency balance for use in satisfying any possible need for a supplemental assessment for any year they were a member and an annual capacity to use all or a portion of a member municipality’s available balance in offsetting future premiums, or4.

  • Direct the FUND to apply the BOARD’s share to the FUND’s Aggregate Excess Loss Contingency Fund, which provides both current member districts and former member districts with an available individual contingency balance for use in satisfying any possible need for a supplemental assessment for any year they were a member and an annual capacity to use all or a portion of a member district’s available balance in offsetting future premiums, or4.

  • The Accrued Loss Contingency for self-insurance funds shall be actuarially determined at least every other year.

  • Direct the FUND to apply the BOARD’s share to the FUND’s Aggregate Excess Loss Contingency Fund, which provides both current member districts and former member districts with an available individual contingency balance for use in satisfying any possible need for a supplemental assessment for any year they were a member and an annual capacity to the use all or a portion of a member district’s available balance in offsetting future premiums, or4.

  • Apply the full amount to the BOARD’s share of the FUND’s Aggregate Excess Loss Contingency Fund.

  • Direct the FUND to apply the BOARD’s share to the FUND’s Aggregate Excess Loss Contingency Fund, which provides both current member districts and former member districts with an available individual contingency balance for use in satisfying any possible need for a supplemental assessment for any year they were a member and an annual capacity to use all or a portion of a member district’s available balance in offsetting future premiums, or 4.

  • Promotional safety incentive programs stressing safety in all areas of municipal operations and offering incentives for active participation by all Fund members.13.) Aggregate Excess Loss Contingency FundIn November of 1996, the Department of Banking and Insurance adopted administrative codes for municipal joint insurance funds like the ACMJIF, reference N.J.A.C. 11:15-2.1 et.

  • Transfer of Funds: The audit report as of 12/31/15 noted a comment that a small deficit of $366 exists in Fund Year 2015 Loss Contingency Fund and should be eliminated.

  • Aggregate Excess Loss Contingency Fund - In lieu of maintaining aggregate excess insurance as provided above, the Fund may establish and provide for the funding of an aggregate excess loss contingency fund.

  • For purposes of determining the annual contribution, the Fund shall utilize its cumulated budgeted losses for all lines to determine the appropriate factor in the current N.J.A.C. 11:15-2.23 Aggregate Excess Criteria Schedule - Aggregate Excess Loss Contingency Fund As A Percentage Of Budgeted Losses, and multiply that factor by the budgeted losses only for those lines of coverage for which the loss contingency fund is established.


More Definitions of LOSS CONTINGENCY

LOSS CONTINGENCY shall have the meaning accorded to it by generally accepted accounting principles.
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LOSS CONTINGENCY means an existing condition, situation, or set of circumstances involving uncertainty as to possible charges against income, include those charges commonly referred to as "expenses," to an enterprise that will ultimately be resolved when one or more future events occur or fail to occur.
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LOSS CONTINGENCY shall have the meaning accorded to it by U.S. generally accepted accounting principles.
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LOSS CONTINGENCY shall have the meaning ascribed to it in Section 3.10(a).
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Related to LOSS CONTINGENCY

  • Contingency means the identified and possible or already occurred fault of an element, including not only the transmission system elements, but also significant grid users and distribution network elements if relevant for the transmission system operational security;

  • Shared Loss Payment Trigger means when the sum of the Cumulative Loss Amount under this Single Family Shared-Loss Agreement and the Shared-Loss Amount under the Commercial and Other Assets Shared-Loss Agreement, exceeds the First Loss Tranche. If the First Loss Tranche is zero or a negative number, the Shared Loss Payment Trigger shall be deemed to have been reached upon Bank Closing.

  • 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.

  • Contingency Fund means a monetary amount that continues month to month, if approved by a case manager, that is set aside in the Independent Choices Program service budget to purchase identified items that substitute for personal assistance.

  • contingency fee means any payment or other compensation that is contingent upon or is calculated upon the basis of a degree of success in soliciting or obtaining a Government contract or negotiating the whole or any part of its terms;

  • Shared-Loss Month means each calendar month between the Commencement Date and the last day of the month in which the tenth anniversary of the Commencement Date occurs, provided that, the first Shared-Loss Month shall begin on the Commencement Date and end on the last day of that month.

  • Overage means the total number of shares of Common Stock issued in connection with the Subject Transactions above the Share Allowance.

  • Insured Loss means damage or destruction to improvements on the Premises, other than Lessee Owned Alterations and Utility Installations and Trade Fixtures, which was caused by an event required to be covered by the insurance described in Paragraph 8.3(a), irrespective of any deductible amounts or coverage limits involved.

  • Data Loss Event means any event that results, or may result, in unauthorised access to Personal Data held by the Supplier under this Agreement, and/or actual or potential loss and/or destruction of Personal Data in breach of this Agreement, including any Personal Data Breach.

  • Loss Severity Percentage With respect to any Distribution Date, the percentage equivalent of a fraction, the numerator of which is the amount of Realized Losses incurred on a Mortgage Loan and the denominator of which is the principal balance of such Mortgage Loan immediately prior to the liquidation of such Mortgage Loan.

  • Financial Impairment means that a carrier is not insolvent and is:

  • Acceptable Insurance Default shall have the meaning assigned to such term or analogous term in the Servicing Agreement.

  • Loss Occurrence means the sum of all individual losses directly occasioned by any one disaster, accident or loss or series of disasters, accidents or losses arising out of one event which occurs within the area of one state of the United States or province of Canada and states or provinces contiguous thereto and to one another. However, the duration and extent of any one "loss occurrence" shall be limited to all individual losses sustained by the Company occurring during any period of 168 consecutive hours arising out of and directly occasioned by the same event, except that the term "loss occurrence" shall be further defined as follows:

  • Insured Event shall have the meaning given such term in Section 12.4.

  • Covered Loss or “Covered Losses” means an accidental death, dismemberment, or other Injury covered under the Policy.

  • Extraordinary Loss Any Realized Loss or portion thereof caused by or resulting from:

  • Special Hazard Coverage The Special Hazard Coverage on the most recent anniversary of the Cut-Off Date (calculated in accordance with the second sentence of this paragraph) or, if prior to the first such anniversary, $4,614,259, in each case reduced by Special Hazard Losses allocated to the Certificates since the most recent anniversary of the Cut-Off Date (or, if prior to the first such anniversary, since the Cut-Off Date). On each anniversary of the Cut-Off Date, the Special Hazard Coverage shall be reduced, but not increased, to an amount equal to the lesser of (1) the greatest of (a) the aggregate principal balance of the Mortgage Loans located in the single California zip code area containing the largest aggregate principal balance of Mortgage Loans, (b) 1.0% of the aggregate unpaid principal balance of the Mortgage Loans and (c) twice the unpaid principal balance of the largest single Mortgage Loan, in each case calculated as of the Due Date in the immediately preceding month, and (2) $4,614,259 as reduced by the Special Hazard Losses allocated to the Certificates since the Cut-Off Date. The Special Hazard Coverage may be reduced upon written confirmation from the Rating Agencies that such reduction will not adversely affect the then current ratings assigned to the Certificates by the Rating Agencies (determined in the case of the Insured Certificates, without giving effect to the Certificate Insurance Policy).

  • Cumulative Loss Trigger Event If, with respect to any Distribution Date, the quotient (expressed as a percentage) of (x) the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Due Period, divided by (y) the Cut-off Date Pool Principal Balance, exceeds the applicable Cumulative Loss Percentages set forth below with respect to such Distribution Date: Distribution Date Occurring In Cumulative Loss Percentage March 2008 through February 1.400% for the first month, plus an additional 2009 1/12th of 1.750% for each month thereafter (e.g., 2.275% in September 2008) March 2009 through February 3.150% for the first month, plus an additional 2010 1/12th of 1.750% for each month thereafter (e.g., 4.025% in September 2009) March 2010 through February 4.900% for the first month, plus an additional 2011 1/12th of 1.400% for each month thereafter (e.g., 5.600% in September 2010) March 2011 through February 6.300% for the first month, plus an additional 2012 1/12th of 0.750% for each month thereafter (e.g., 6.675% in September 2011) March 2012 and thereafter 7.050%

  • 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.

  • Special Hazard Loss Any Realized Loss suffered by a Mortgaged Property on account of direct physical loss, but not including (i) any loss of a type covered by a hazard insurance policy or a flood insurance policy required to be maintained with respect to such Mortgaged Property pursuant to Section 3.10 to the extent of the amount of such loss covered thereby, or (ii) any loss caused by or resulting from:

  • 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.