Tax Loss Policy definition

Tax Loss Policy means, with respect to each Subject Fund, a policy of insurance or other credit enhancement product for the benefit of the Collateral Agent, under which the Tax Loss Insurer will, subject to the terms and conditions of the Tax Loss Policy, pay, or such other credit enhancement product will be used to pay, to the Collateral Agent the amount of any Tax Loss Indemnity required to be paid by SolarCity and not paid by SolarCity when due under the applicable Project Documents, up to an aggregate amount and subject to a retention limit, deductible or other similar amount, approved by the Administrative Agent in its reasonable discretion.
Sample 1Sample 2
Tax Loss Policy means, with respect to each Subject Fund, an insurance policy in conformity with the requirements of Section 5.17, under which the issuer of such policy will pay [***] DESIGNATES PORTIONS OF THIS DOCUMENT THAT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND FILED SEPARATELY WITH THE COMMISSION. to the insured (or its additional insured, loss payee or other designee) the amount of any Tax Loss Indemnity payable by the Managing Member or its assignees of such Subject Fund pursuant to the applicable Project Documents, and including limits, deductibles and other terms and conditions (i) that do not materially and adversely diverge from any Tax Loss Policy that has previously been approved by the Administrative Agent and Majority Lenders, as determined by the Administrative Agent in its reasonable discretion; provided, however, that any policy containing identical terms to any previously approved Tax Loss Policy shall not require such review by the Administrative Agent so long as the limits, deductibles and other monetary terms of such policy in relation to the size of the Subject Fund that such policy will insure are proportional to the monetary terms of the previously approved Tax Loss Policy in relation to the size of the Subject Fund that it insured, or (ii) as otherwise approved by the Administrative Agent and Majority Lenders in their reasonable discretion.
Sample 1
Tax Loss Policy means, with respect to each Subject Fund, a policy of insurance or other credit enhancement product for the benefit of the Collateral Agent, under which the Tax Loss Insurer will, subject to the terms and conditions of the Tax Loss Policy, pay, or such other credit enhancement product will be used to pay, to the Collateral Agent the amount of any Tax Loss Indemnity which Limited Guarantor or SolarCity, as the case, has failed to pay as required under the applicable Project Documents, up to an aggregate amount and subject to a retention limit, deductible or other similar amount, substantially similar to any Tax Loss Policies previously approved [***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. by the Administrative Agent or otherwise approved by the Administrative Agent in its reasonable discretion.
Sample 1

Examples of Tax Loss Policy in a sentence

  • Subject to the prior satisfaction of the conditions precedent described in Section 2 hereof, the Administrative Agent and the Required Group Agents agree (A) to extend the deadline under Section 11.11(a) of the Loan Agreement with respect to delivery of a Tax Loss Policy to November 25, 2015 (such date, the “Required Delivery Date”) and (B) that failure to deliver any Tax Loss Policy before the Required Delivery Date shall not constitute a Default or Event of Default.

  • The proposed rules are not new within the context of the EU financial sector as, not only are the AIFMD rules broadly equivalent to the ones under the CRD, but also the CRD remuneration principles were in turn based on Recommendation 2009/384/ EC.

  • So long as no Notice of Suspension is in effect, and no Event of Default has occurred and is continuing, a Subsidiary Party may withdraw and transfer amounts on deposit in the Tax Loss Reserve Subaccount set forth opposite such Subsidiary Party’s name on Item B to Schedule III hereto if necessary to satisfy any Tax Loss Policy Deductible applicable to such Subsidiary Party.

  • This Action shall be effective upon the receipt by (i) the Administrative Agent of counterparts of this Action, executed and delivered by each of the other parties hereto and (ii) the Collateral Agent of a Power of Attorney (each, a “Power of Attorney”), in form and substance reasonably acceptable to the Collateral Agent, from the Borrower, with respect to all rights of the Borrower, in its capacity as managing member of the named insured under each Tax Loss Policy in place as of the date hereof.

Related to Tax Loss 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.

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

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

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

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

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

  • Insurance carrier means every insurance carrier duly

  • Co-insurance means the percentage of the usual, reasonable, customary, and fair market value expense that a covered person must pay.

  • D&O Liability Insurance Policies means all insurance policies (including any “tail policy”) of any of the Debtors for liability of any current or former directors, managers, officers, and members.

  • Environmental Insurance Policy means, with respect to any Mortgage Loan or the related Mortgaged Property or REO Property, any insurance policy covering pollution conditions and/or other environmental conditions that is maintained from time to time in respect of such Mortgage Loan, Mortgaged Property or REO Property, as the case may be, for the benefit of, among others, the Trustee on behalf of the Certificateholders.

  • Fuel Cost Policy means the document provided by a Market Seller to PJM and the Market Monitoring Unit in accordance with PJM Manual 15 and Operating Agreement, Schedule 2, which documents the Market Seller’s method used to price fuel for calculation of the Market Seller’s cost-based offer(s) for a generation resource.

  • Company Insurance Policies has the meaning set forth in Section 3.14.

  • Title Insurance Policy A title insurance policy maintained with respect to a Mortgage Loan.

  • Insurance Report means an insurance report in respect of the Insurances confirming that such Insurances are placed with such insurers, insurance companies and/or clubs in such amounts, against such risks and in such form as acceptable to the Agent (acting on the instructions from the Finance Parties) and comply with the requirements under Clause 26.3 (Insurance) and the GIEK Guarantee prepared by Bank Assure Insurance Services Inc., or such other reputable insurance advisor approved by the Agent, and dated on or about the date of this Agreement and addressed to, and capable of being relied upon by, the Finance Parties.

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

  • 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.

  • 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.

  • Reimbursement insurance policy means a policy of insurance

  • Insurance Schedule means Schedule 3 attached hereto.

  • Insurance Contract means a contract (other than an Annuity Contract) under which the issuer agrees to pay an amount upon the occurrence of a specified contingency involving mortality, morbidity, accident, liability, or property risk.

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

  • Title Insurance Policies means, with respect to each Individual Property, an ALTA mortgagee title insurance policy in a form acceptable to Lender (or, if an Individual Property is in a State which does not permit the issuance of such ALTA policy, such form as shall be permitted in such State and acceptable to Lender) issued with respect to such Individual Property and insuring the lien of the Mortgage encumbering such Individual Property.

  • group insurance means insurance, other than creditor’s group insurance and family insurance, whereby the lives of a number of persons are insured severally under a single contract between an insurer and an employer or other person; (“assurance collective”)

  • Cash Value Insurance Contract means an Insurance Contract (other than an indemnity reinsurance contract between two insurance companies) that has a Cash Value greater than $50,000.

  • Policy means Related Party Transaction Policy.

  • Insurance Contracts means the insurance or annuity policies and contracts, together with all binders, slips, certificates, endorsements and riders thereto, issued or entered into by any Insurance Company prior to the Closing.