Material NYS Insurance Lease Event definition

Material NYS Insurance Lease Event means the occurrence of one or both of the following: (a) Insurance Superintendent exercises its option, pursuant to Section 2.5 of the NYS Insurance Lease, to terminate the NYS Insurance Lease effective on or about the eighth anniversary of the NYS Insurance Lease commencement date unless the Insurance Superintendent later rescinds such termination in a manner reasonably acceptable to Agent or (b) at any time Borrower enters into any amendment, modification or partial termination (or any similar agreement) in connection with which the Insurance Superintendent surrenders a portion of the NYS Insurance Leased Space.
Sample 1

Examples of Material NYS Insurance Lease Event in a sentence

  • With respect to any Rollover Reserve Funds other than those relating to a deposit of Lease termination fees or any payment made in connection with a Material NYS Insurance Lease Event, Agent shall only be required to make disbursements to the extent that each Mezzanine Agent has also made a pro rata disbursement of funds from the “Rollover Reserve Funds” as such term is defined under the applicable Mezzanine Loan Agreement.

  • It is an excellent site for wildflowers, viewing badgers, and, if they continue to breed, peregrine falcons.

  • Notwithstanding anything herein to the contrary, any amounts received in connection with Lease terminations and deposited into the Rollover Reserve Funds and an payment made in connection with a Material NYS Insurance Lease Event shall only be released for Approved Leasing Expenses or Make Ready Expenses related to re-letting or preparing the applicable space for which such amounts had been paid.

Related to Material NYS Insurance Lease Event

  • Mortgage Impairment Insurance Policy A mortgage impairment or blanket hazard insurance policy as described in Section 4.11.

  • Blanket insurance policy means a group policy covering a defined class of

  • insurance business means one or more aspects of the business of selling, issuing or underwriting insurance or reinsurance.

  • Insurance Policy With respect to any Mortgage Loan included in the Trust Fund, any insurance policy, including all riders and endorsements thereto in effect, including any replacement policy or policies for any Insurance Policies.

  • Hazard Insurance Policy means, with respect to each Contract, the policy of fire and extended coverage insurance (and federal flood insurance, if the Manufactured Home is secured by an FHA/VA Contract and such Manufactured Home is located in a federally designated special flood area) required to be maintained for the related Manufactured Home, as provided in Section 5.09, and which, as provided in said Section 5.09, may be a blanket mortgage impairment policy maintained by the Servicer in accordance with the terms and conditions of said Section 5.09.

  • Required Insurance Policy With respect to any Mortgage Loan, any insurance policy that is required to be maintained from time to time under this Agreement.

  • FHA Mortgage Insurance Contract means the contractual obligation of the FHA respecting the insurance of a Mortgage Loan.

  • Mortgage guaranty insurance means surety insurance under which a mortgagee or other creditor is indemnified against losses caused by the default of a debtor.

  • Insurance Agreement Event of Default means an "Event of Default" as defined in the Insurance Agreement.

  • Group long-term care insurance means a long-term care insurance policy which is delivered or issued for delivery in this State and issued to:

  • insurance period means a contribution period or an equivalent period;

  • Insurance and Condemnation Event means the receipt by any Credit Party or any of its Subsidiaries of any cash insurance proceeds or condemnation award payable by reason of theft, loss, physical destruction or damage, taking or similar event with respect to any of their respective Property.

  • Lease Event of Default shall have the meaning specified in Section 17.1 of the Lease.

  • Insurance transaction means any transaction involving insurance primarily for personal, family, or household needs rather than business or professional needs that entails:

  • Insurance Assignment means the valid and effective first legal assignment of the Insurances (together with the notice thereof), to be executed by the Borrower in respect of the Vessel in favour of the Trustee and the Commercial Loan Trustee, such assignment and notice to be in the form and on the terms and conditions required by the Agent, the Hermes Agent and the Commercial Loan Agent and agreed on the signing of the Original Loan Agreement and as specified in paragraph 47 of Schedule 4;

  • Standard Hazard Insurance Policy means a fire and casualty extended coverage insurance policy in such amount and with such coverage as required by this Agreement.

  • Health-care-insurance receivable means an interest in or claim under a policy of insurance which is a right to payment of a monetary obligation for health-care goods or services provided.

  • Special Hazard Coverage Termination Date The point in time at which the Special Hazard Loss Coverage Amount is reduced to zero.

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

  • Insurance means (i) all insurance policies covering any or all of the Collateral (regardless of whether the Collateral Agent is the loss payee thereof) and (ii) any key man life insurance policies.

  • Flood Insurance Laws means, collectively, (i) the National Flood Insurance Act of 1968 as now or hereafter in effect or any successor statute thereto, (ii) the Flood Disaster Protection Act of 1973 as now or hereafter in effect or any successor statue thereto, (iii) the National Flood Insurance Reform Act of 1994 as now or hereafter in effect or any successor statute thereto and (iv) the Flood Insurance Reform Act of 2004 as now or hereafter in effect or any successor statute thereto.

  • Material Lease has the meaning set forth in Section 3.17(a).

  • Insurance Contract means a contract (other than an Annuity Contract) under which the issuer agrees to pay an amount upon the occurrence of a specified contingency involving mortality, morbidity, accident, liability, or property risk.

  • Bond Insurance Policy means the municipal bond new issue insurance policy issued by the Bond Insurer that guarantees payment of principal of and interest on the Bonds.

  • FHA Mortgage Insurance means, mortgage insurance authorized under the National Housing Act, as amended from time to time, and provided by the FHA.

  • Insurance Laws means all laws, rules and regulations applicable to the business of insurance and the regulation of insurance holding companies, whether domestic or foreign, and all applicable orders and directives of Governmental Authorities and market conduct recommendations resulting from market conduct examinations of Insurance Regulators.