RVI Policy definition

RVI Policy. A non-cancelable residual value insurance policy that guaranties the Balloon Payment on each Insured Balloon Loan issued by an R.V.I.
Sample 1Sample 2
RVI Policy means, with respect to the Property, a residual value insurance policy in form and substance reasonably acceptable to the Lessor in an amount sufficient to enable the Lessor to achieve its desired accounting treatment.
Sample 1Sample 2Sample 3
RVI Policy means that certain residual value insurance policy issued by Financial Structures Limited for the benefit of the Lender.
Sample 1Sample 2

Examples of RVI Policy in a sentence

  • The Borrower may solicit Competitive Bids by delivery of a Competitive Bid Request substantially in the form of Schedule 2.2(b)-1 to the Agent or each Lender by 11:00 a.m. (San Francisco, California time) on the second Business Day prior to the date of the requested Competitive Loan borrowing.

  • If no Event of Default exists, the excess portion of the Net Award, with the prior written consent of the insured under the RVI Policy, shall be remitted to the Borrower.

  • Indeed, the RVI Policy is insurance that protects the lender, not the borrower, as it explicitly states.

  • In Count II, plaintiffs raised breach of contract claims, alleging that FSL breached the RVI Policies by failing to obtain appraisals of the properties as required under Article IV of the RVI Policy.

  • Plainly stated, plaintiff had no rights at all under the RVI Policy.

  • Moreover, the IC Agreement clearly stated that if a claim was, in fact, paid by FSL under the RVI Policy, the property was to immediately be transferred to FSL for no additional consideration.

  • Further, the IC Agreements were not void as a clog on the equity of redemption because the ICA Acquisition defendants’ rights under those agreements do not arise through foreclosure; rather, their rights arise by FSL’s payment of a claim under the RVI Policy, not plaintiffs’ default under the mortgage.

  • The fact that FSL paid the Insured Value to plaintiffs’ lenders after they filed a claim under the RVI Policy did not “retire” any of the loan documents or plaintiffs’ obligations under those loan documents—as plainly stated in the RVI Policy.4 And any such argument to the contrary is absurd, defendants argued, considering that plaintiff RA2 Troy paid a premium of $74,418 for the RVI Policy and RA2 Battle Creek paid a premium of $40,670 for the RVI Policy.

  • Neither the Lessee nor the Lessee Guarantor will take any action (or fail to take any action required of it) that would cause, directly or indirectly, the RVI Policy to cease to be in full force and effect.

  • Accordingly, plaintiffs argued that they were entitled to summary disposition, not defendants.Defendants filed reply briefs in support of their motions for summary disposition, arguing that the payment of the claim to plaintiffs’ lender pursuant to the RVI Policy did not discharge plaintiffs’ obligations under the loan documents.


More Definitions of RVI Policy

RVI Policy means the Residual Value Insurance issued by R.V.I. American Insurance Company.
Sample 1Sample 2
RVI Policy means the Residual Value Insurance Policy from the RVI Provider for the benefit of the Lessor and all documents and agreements delivered pursuant thereto or in connection therewith.
Sample 1
RVI Policy means, with respect to the Property, a residual value insurance policy in form and substance reasonably acceptable to the Lessor in an amount sufficient to enable the Lessor to achieve its desired accounting treatment. “S&P” shall mean Standard & Poor’s, a division of The McGraw Hill Companies Inc., and any successor thereto. “Sale Date” shall have the meaning given to such term in Section 20.3(a)
Sample 1
RVI Policy means the Residual Value Insurance Policy, effective as of June 15, 2003, among the RVI Provider, the Indenture Trustee, the Lessee and the Lessor.
Sample 1

Related to RVI Policy

  • R&W Policy means any buyer-side representations and warranties insurance policy purchased by a Buyer or an Affiliate thereof in connection with this Agreement on or before the Closing Date.

  • LPMI Policy A policy of primary mortgage guaranty insurance issued by a LPMI Insurer pursuant to which the related premium is to be paid from payments of interest made by the Mortgagor.

  • PMI Policy A policy of primary mortgage guaranty insurance issued by a Qualified Insurer, as required by this Agreement with respect to certain Mortgage Loans.

  • D&O Policy has the meaning set forth in Section 6.18(b).

  • Bulk PMI Policy Not applicable.

  • SAP Policies means the operational guidelines and policies applied by SAP to provide and support the Cloud Service as incorporated in an Order Form.

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

  • CSR Policy means the present Corporate Social Responsibility Policy of the Company, which covers the activities to be undertaken by the Company as specified in Schedule VII to the Act and the CSR Expenditure thereon.

  • Group Policy /”policy” means the breakdown policy as set out in this document;

  • 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.

  • Covered policy means a policy of commercial risk insurance, professional liability insurance or public entity insurance.

  • Policy means Related Party Transaction Policy.

  • Master Policy means a single worker’s compensation insurance policy issued by an insurer authorized to do business in this state to an employee leasing company in the name of the employee leasing company that covers more than one client of the employee leasing company.

  • D&O Tail Policy has the meaning set forth in Section 5.8(c).

  • Reimbursement insurance policy means a policy of insurance

  • R&W Insurance Policy means the representations and warranties insurance policy issued to Buyer in connection with the transactions contemplated hereby.

  • Tail Policy has the meaning set forth in Section 6.18(b).

  • 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.

  • D&O Policies has the meaning set forth in Section 8.01(e).

  • 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.

  • Primary Insurance Policy Each policy of primary mortgage guaranty insurance or any replacement policy therefor with respect to any Mortgage Loan.

  • Insurance Policies has the meaning set forth in Section 3.16.

  • Tariff Policy means a Tariff Policy adopted by the Council in terms of Section 74 of the Local Government: Municipal Systems Act 32 of 2000.

  • The Policy means any insurance policy held by the Landlord for the Property or the Fixtures and Fittings.

  • Life Insurance Policy has the meaning given in Section 6.11.

  • 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.