Maximum Coverage definition

Maximum Coverage means the following amounts:
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Maximum Coverage. The current maximum reimbursement amount per employee shall be $2,000 per plan year. The reimbursement per dependent shall be $1,100 per plan year. The amount of the unused employee balance that can be applied to the outstanding dependent balance shall be $530 per fiscal year.
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Maximum Coverage. The maximum open/fair market aggregate value of the repairs Seller must provide or pay for with respect to any single Covered Failure during either the Primary Warranty Term or the Lifetime Warranty Term (if applicable) is the wholesale value of the Vehicle (per the regional N.A.D.A. Guide for the month of the claim ) or $3,000.00, whichever is less. Seller’s aggregate obligation for covered warranty claims under this limited warranty (under any terms or combination of terms) shall not exceed $15,000.00 fair market value (before all deductibles are applied). Buyer making, or attempting to make, a Condition Lifetime Warranty Election after the $15,000.00 maximum coverage has been reached shall not constitute a waiver by Seller of this provision. What is Not Covered: The following are not covered under the terms of this limited warranty: Failures Caused (In Whole or in Part) by Lack of Preventive Maintenance, Checks and Services (PMCS): Any otherwise covered failure that is caused (in whole or in part) by Buyer’s failure to properly and/or timely perform PMCS that is recommended or required by the manufacturer. Aftermarket Equipment/Item: Any failure of an otherwise covered item where the failed item is an aftermarket or “custom” item that was not installed by the manufacturer or manufacturer’s factory authorized dealer at time Vehicle was “new” and for which the Seller’s records do not show to have been installed on the Vehicle at time of Seller’s sale to Buyer. Noises: “Rattles,” squeaks, wind noises, and any other noises/annoyances attributable to an otherwise covered item.
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Examples of Maximum Coverage in a sentence

  • In the event that the Employer has purchased a uniform coverage risk policy from the Recordkeeper, then the Maximum Coverage amount specified in Section F.7 of the Adoption Agreement shall be pro rated with respect to (i) an Employee who becomes a Participant and enters the Plan during the Plan Year, and (ii) short plan years initiated by the Employer.

  • Such Maximum Coverage amount will be pro rated by dividing the annual Maximum Coverage amount by 12, and multiplying the quotient by the number of remaining months in the Plan Year for the new Participant or the number of months in the short Plan Year, as applicable.

  • Your Maximum Coverage Per Claim aligns with Your Covered Device’s tier as outlined in the schedule below.

  • The proposed term of insurance coverage at his Effective Date of Coverage shall not be less than the Minimum Coverage Term or more than the Maximum Coverage Term as defined in the Policy Schedule attached hereto.

  • If, in any event, the cost of the post-termination coverage exceeds the Maximum Coverage Cost, the Company (or, after the Merger, Brad▇▇▇) ▇▇all be required to contribute to the cost of such coverage an amount equal to the Maximum Coverage Cost.

  • If all claims in a Policy Year do not meet the Maximum Coverage Limit, then it is agreed and understood that there will be no carry-over of days to the subsequent Policy Year or any future renewals of the Policy.

  • A Maximum Coverage Per Claim is the lesser of the replacement value of the Covered Device or the original Covered Device purchase price, less any applicable Service Fee, that applies to each device repair or replacement (“Maximum Coverage Per Claim”).

  • Your Maximum Coverage Per Claim is the retail cost of the product, excluding taxes and fees.

  • Deductible Structure Deductible Decreasing or Increasing Deductibles / Timeframes N/A Maximum Coverage per Claim The lesser of the replacement value of the Insured Product or the original Insured Product purchase price, less any applicable deductible, that applies to each device replacement.

  • A Maximum Coverage Per Claim is the lesser of the replacement value of the Insured Product or the original Insured Product purchase price, less any applicable deductible, that applies to each device repair or replacement (“Maximum Coverage Per Claim”).

Related to Maximum Coverage

  • Lot coverage means the percentage of lot area covered by all buildings on the lot;

  • Maximum Premium has the meaning set forth in Section 7.06(b).

  • Fraud Coverage During the period prior to the first anniversary of the Cut-Off Date, 2.00% of the aggregate principal balance of the Mortgage Loans as of the Cut-Off Date (the "Initial Fraud Coverage"), reduced by Fraud Losses allocated to the Certificates since the Cut-Off Date; during the period from the first anniversary of the Cut-Off Date to (but not including) the fifth anniversary of the Cut-Off Date, the amount of the Fraud Coverage on the most recent previous anniversary of the Cut-Off Date (calculated in accordance with the second sentence of this paragraph) reduced by Fraud Losses allocated to the Certificates since such anniversary; and during the period on and after the fifth anniversary of the Cut-Off Date, zero. On each anniversary of the Cut-Off Date, the Fraud Coverage shall be reduced to the lesser of (i) on the first, second, third and fourth anniversaries of the Cut-Off Date, 1.00% of the aggregate principal balance of the Mortgage Loans as of the Due Date in the preceding month and (ii) the excess of the Initial Fraud Coverage over cumulative Fraud Losses allocated to the Certificates since the Cut-Off Date. The Fraud 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.

  • Maximum Cap Rate For any Distribution Date with respect to the Group I Certificates, a per annum rate equal to the sum of (i) the product of (x) the weighted average of the Expense Adjusted Net Maximum Mortgage Rates of the Group I Mortgage Loans minus an amount, expressed as a percentage, equal to the Net Swap Payment and Swap Termination Payment, if any (other than termination payments resulting from a Swap Provider Trigger Event), due from the Trust for such Distribution Date, multiplied by 12, weighted on the basis of the outstanding Stated Principal Balances of the Group I Mortgage Loans as of the first day of the month preceding the month of such Distribution Date (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Interest Accrual Period and (ii) an amount, expressed as a percentage, equal to a fraction, the numerator of which is equal to the Net Swap Payment made by the Interest Rate Swap Provider and the denominator of which is equal to the aggregate Stated Principal Balance of the Mortgage Loans, multiplied by 12. For any Distribution Date with respect to the Group II Certificates, a per annum rate equal to the sum of (i) the product of (x) the weighted average of the Expense Adjusted Net Maximum Mortgage Rates of the Group II Mortgage Loans minus an amount, expressed as a percentage, equal to the Net Swap Payment and Swap Termination Payment, if any (other than termination payments resulting from a Swap Provider Trigger Event), due from the Trust for such Distribution Date, multiplied by 12, weighted on the basis of the outstanding Stated Principal Balances of the Group II Mortgage Loans as of the first day of the month preceding the month of such Distribution Date (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Interest Accrual Period and (ii) an amount, expressed as a percentage, equal to a fraction, the numerator of which is equal to the Net Swap Payment made by the Interest Rate Swap Provider and the denominator of which is equal to the aggregate Stated Principal Balance of the Mortgage Loans, multiplied by 12. For any Distribution Date with respect to the Mezzanine Certificates, a per annum rate equal to the sum of (i) the product of (x) the weighted average (weighted on the basis of the results of subtracting from the aggregate Stated Principal Balance of the applicable Loan Group, the current Certificate Principal Balance of the related Class A Certificates) of the weighted average of the Expense Adjusted Net Maximum Mortgage Rates of the Group I Mortgage Loans and the Group II Mortgage Loans, in each case, weighted on the basis of the outstanding Stated Principal Balances of the related Mortgage Loans as of the first day of the month preceding the month of such Distribution Date (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Interest Accrual Period and (ii) an amount, expressed as a percentage, equal to a fraction, the numerator of which is equal to the Net Swap Payment made by the Interest Rate Swap Provider and the denominator of which is equal to the aggregate Stated Principal Balance of the Mortgage Loans, multiplied by 12.

  • Maximum Capacity or ‘Pmax’ means the maximum continuous active power which a power-generating module can produce, less any demand associated solely with facilitating the operation of that power-generating module and not fed into the network as specified in the connection agreement or as agreed between the relevant system operator and the power-generating facility owner;