Special Flood Hazard Area means an area that FEMA’s current flood maps indicate has at least a one percent (1%) chance of a flood equal to or exceeding the base flood elevation (a 100-year flood) in any given year.
Special Flood Hazard Area with respect to which flood insurance has been made available under the National Flood Insurance Act of 1968 (as now or hereafter in effect or successor act thereto), (i) maintain, or cause to be maintained, with a financially sound and reputable insurer, flood insurance in an amount and otherwise sufficient to comply with all applicable rules and regulations promulgated pursuant to the Flood Insurance Laws and (ii) deliver to the Collateral Agent evidence of such compliance in form and substance reasonably acceptable to the Collateral Agent.
Examples of Special Flood Hazard Area in a sentence
Notwithstanding the requirement in clause (i) above, Flood Insurance shall not be required for (x) Real Estate not located in a Special Flood Hazard Area, or (y) Real Estate located in a Special Flood Hazard Area in a community that does not participate in the National Flood Insurance Program.
In addition to the obligations set forth in Section 6.06(a), within 90 days after written notice from the Administrative Agent to the Loan Parties that any Real Estate is located in a Special Flood Hazard Area, the Loan Parties shall satisfy the Flood Insurance requirements of Section 6.06(a).
Notwithstanding the requirement in clause (i) above, Flood Insurance shall not be required for Real Estate not located in a Special Flood Hazard Area.
More Definitions of Special Flood Hazard Area
Special Flood Hazard Area means the land in the flood plain within a community having at least a one per- cent chance of flooding in any given year, as designated by the Director of FEMA.
Special Flood Hazard Area means an area that FEMA has designated as an area subject to special flood hazards, the current standard for which is at least a one percent (1%) chance of a flood equal to or exceeding the base flood elevation (a 100-year flood) in any given year, as per the applicable flood maps.
Special Flood Hazard Area means an area that FEMA has designated as an area subject to special flood or mud slide hazards.
Special Flood Hazard Area means an area designated by the Federal Emergency Management Agency (or any successor agency) as a “special flood hazard area” or having special flood or mud slid hazards.
Special Flood Hazard Area means the land in the floodplain within a community subject to a one percent or greater chance of flooding in any given year, i.e., the 100-year floodplain.
Special Flood Hazard Area means an area that the Federal Emergency Management Agency (or its successor) has designated as an area subject to special flood or mud slide hazards.