Qualified Named Storm Policy definition
Qualified Named Storm Policy shall have the meaning set forth in Section 7.3.1.
Examples of Qualified Named Storm Policy in a sentence
In the event that ▇▇▇▇▇▇▇▇ does not purchase a Qualified Named Storm Policy or to the extent the Named Storm Coverage Amount is reduced in accordance with the preceding sentence, the Named Storm Coverage Amount shall not be released to Borrower and shall remain collateral for the Loan.
In the event that Borrower provides evidence to Lender of a fully bound Qualified Named Storm Policy with respect to the Property, the Named Storm Coverage Amount (less any premiums paid therefrom) shall be released to Borrower.