Examples of OSG in a sentence
OSG will determine the eligibility of the applicant consid- ering its standards and procedures for underwriting, administration, claims and recovery.
If the guarantee per- centage is not fixed by the Investment Act, it is determined by OSG after con- sidering, among other things, the rat- ing or ranking assigned to the Surety by recognized authority, and the Sure- ty’s Loss rate, average Contract amount, average bond penalty per guaranteed bond, and ratio of Bid Bonds to Final Bonds, all in compari- son with other Sureties participating in the same SBA Surety Bond Guar- antee Program (Prior Approval or PSB) to a comparable degree.
Pursuant to the current charter agreements, OSG had the right to defer payment of a portion of the bareboat charter hire for the first five vessels during the initial seven year fixed bareboat charter periods.
The DPO accrued on a daily basis to a maximum liability from OSG of USD 7.0 million per vessel.
SBA will reimburse its guaranteed share of payments made by a Surety to avoid or attempt to avoid an Imminent Breach of the terms of a Contract covered by an SBA guar- anteed bond only if the payments were made with the prior approval of OSG.