NFIP definition

NFIP means the National Flood Insurance Program (NFIP).

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NFIP shall have the meaning assigned to such term in Section 5.11(c).

NFIP is defined in Section 6.10(a)(iv).

Examples of NFIP in a sentence

• Such coverage may be purchased through excess carriers if the required coverage exceeds the maximum Insurance available under the NFIP.

• Replaced properties must be removed from the floodplain or raised two feet above the Base Flood Elevation (BFE), and meet National Flood Insurance Program (NFIP) minimum requirements and the current building code to qualify.

• Although none of the Project may not now be included in a special flood hazard area or the governing municipality may not participate in the NFIP, Borrower acknowledges and agrees that it will provide such insurance within 45 days following notice from the Servicer that any portion of the Project has been included in a special flood hazard area or the governing municipality does then participate in the NFIP.

• Where the community is participating in the NFIP and the recipient provides financial assistance for acquisition or construction purposes (including rehabilitation) for property located in an area identified by FEMA as having special flood hazards, Subrecipient is responsible for ensuring that flood insurance under the NFIP is obtained and maintained.

• For each building, the Licensee shall maintain the maximum limits available under the NFIP for both the building and its contents.

More Definitions of NFIP

NFIP has the meaning specified in Section 6.12(d).

NFIP has the meaning assigned to such term in the definition of “Real Estate Collateral Requirements”.

NFIP means the National Flood Insurance Program created by the U.S. Congress pursuant to the National Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973, as revised by the National Flood Insurance Reform Act of 1994 and the Flood Insurance Reform Act of 2004, that mandates the purchase of flood insurance to cover real property improvements located in Special Flood Hazard Areas in participating communities and provides protection to property owners through a federal insurance program.

NFIP has the meaning set forth in Section 5.10(b)(iv).

NFIP has the meaning specified in Section 7.12(b)(iv).

NFIP has the meaning assigned to such term in the definition of “Collateral and Guarantee Requirement.”

NFIP means the National Flood Insurance Program created by the U.S. Congress pursuant to the National Flood Insurance Act of 1968, the Flood Disaster Protection Act of 1973, the National Flood Insurance Reform Act of 1994 and the Flood Insurance Reform Act of 2004.