Specified Property definition
Examples of Specified Property in a sentence
Use Increase Limit For Specified Property Subject To Special Limit Of Insurance En- dorsement CR 35 04.
Subject to the ABL Intercreditor Agreement, prior to such time, the Borrower shall ensure that no Lien (other than Permitted Encumbrances) over any such Specified Property is granted to any Person.
Upon the occurrence of any Disposition contemplated by Section 9.4(c), any real property exchanged or substituted for a Specified Property shall become a “Specified Property” for all purposes under this Agreement and the other Note Documentation and such original Specified Property shall cease to be a “Specified Property” under this Agreement and the other Note Documentation.
We shall not be liable for the payment of a greater proportion of the amount of loss than the Limit of Liability specified in the Schedule bears to the amount obtained by applying the coinsurance percentage to the total actual cash value, at the time of the Breakdown, of all Specified Property at the Situation, less the Deductible.
Damage to Specified Property amounting to $400,000 occurs from an event covered by this Policy.