Total Coverage Amount definition
Total Coverage Amount means, at the time of any determination thereof, the sum of (i) the aggregate Commitment of all Banks (excluding Contingent Commitments) under the Loan Facility at such time and (ii) the dollar amount of Cumulative Losses (net of recoveries) at such time that results in the occurrence of the Loss Threshold Incurrence Date.
Total Coverage Amount means on any date of determination the sum of (a) the market value of the Class A Cash Collateral plus (b) the quotient of the market value of Class B Cash Collateral divided by 1.
Examples of Total Coverage Amount in a sentence
In the event of a Claim occurring during any Cover Year, the accrued No Claims Bonus will be reduced by 10% of the Coverage Amount at the commencement of next Cover Year, but in no case shall the Total Coverage Amount be reduced than the Coverage Amount.