Total Security Amount definition

Total Security Amount means, in respect of each Security Period, the highest Security Termination Sum for that Security Period; and

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Total Security Amount has the meaning given to that expression in the Financial Schedule;

Total Security Amount is defined as the greater of (1) the Statutory Security Amount as defined in the ‘PROVISIONS FOR A FOREIGN DOMICILED REINSURER’ section, and (2) the Effective Exposure (if applicable) as defined in the ‘RISK TRIGGER EVENTS’ section of Schedule A. The portion of the Total Security Amount equal to the Statutory Security Amount can be in the form of one or more Letters of Credit or other forms of security in accordance with the laws applicable to THE COMPANY’s state of domicile that permits THE COMPANY to take full reserve credit or reduction from liability for THE REINSURER’s proportionate share of the statutory reserves ceded under this Agreement.

Examples of Total Security Amount in a sentence

On each Indexation Date, the Security Payment amount shall be indexed automatically as follows: the Security Payment amount due from the Lessee to the Lessor under the Preliminary Agreement is recognized as equal to the Total Security Amount as of the Indexation Date.
Further, when each Supplementary Agreement to the Lease Agreement is signed by the Parties, the Security Payment shall be increased up to the Total Security Amount, which value is determined with account for the Leased Area of the Premises leased out under the Supplementary Agreement to the Lease Agreement.
In such cases, subject to the Lessee’s compliance with the above conditions, the Lessor shall return, at the Lessee’s request and at the Lessee’s option, one of the securities (either the Bank Guarantee (with a waiver of its rights thereunder) or the Security Payment) provided by the Lessee to the Lessor, subject to sufficiency of the other security amount (equal to the Total Security Amount), within the time limits as specified in this Section below.
THE COMPANY shall not arbitrarily or unreasonably withhold such permission if another form of collateral acceptable to THE COMPANY is provided by THE REINSURER for the Total Security Amount.
Such interest shall be retained by THE COMPANY to the extent needed to maintain the account at the Total Security Amount; otherwise, such interest shall be paid to THE REINSURER.
The Security Payment shall be provided equal to the Total Security Amount, considering the fact that only the Leased Area of the Premises with respect to which the Lease Agreement has been signed is taken into account when determining the Total Security Amount for the Security Payment as of the Lease Agreement date.
The Security Payment amount to be paid by the Lessee under this clause shall be an amount equal to the Total Security Amount (as regards Subclause (a) in the part of failure to provide the Bank Guarantee and Subclause (c)) and the Total Security Amount under the Lease Agreement (as regards Subclause (b)), and, in case the Bank Guarantee amount has been reduced and not replenished, an amount to replenish the Bank Guarantee amount.
The Security Payment equal to the full Total Security Amount should be provided by the Lessee to the Lessor by the date of signing the last Supplementary Agreement to the Lease Agreement.
Indexation of the Bank Guarantee amount shall be made on the basis of the rules set forth in Clause 4.2 of the Lease Agreement, applied by analogy; • If any amount under the Bank Guarantee is used by the Lessor in accordance with the Preliminary Agreement, the Lessee shall replenish the Bank Guarantee amount in full to the amount of the Total Security Amount within fifteen (15) Business Days from the date of the Bank Guarantee amount reduction.
SIGNATURES: AGENT FOR LANDLORD DATE RESIDENT DATE RESIDENT DATE Resident Benefits Program Attachment #8 Total Security Amount Estimated Monthly ZeroDeposit Fee* Utility Concierge Service ($150.00 Value) – Our utility concierge service will assist you in setting up your utilities including electric, gas and water plus any phone, cable, or security needs when you move into your new home.

More Definitions of Total Security Amount

Total Security Amount means the Bank Guarantee amount or the Security Payment amount, which at any time during the term of the Preliminary Agreement, unless expressly provided for otherwise in the Preliminary Agreement, shall be not less than the sum of the following amounts: Basic Lease Payment, Operating Expenses and Parking Fees payable for six (6) months of the Lease Period as calculated for all Premises and all Parking Slots to be transferred to the Lessee under the Preliminary Agreement/Lease Agreement, subject to Indexation of the relevant amounts in accordance with Clause 6.3 of the Preliminary Agreement, plus VAT on such amount;

Total Security Amount means, for the purposes of both the Lease Agreement and the Supplementary Agreement to the Lease Agreement (if it is to be signed), the Bank Guarantee amount or the Security Payment amount, which at any time during the term of the Lease Agreement, unless otherwise expressly provided for in the Lease Agreement, shall be no less than the sum of the following amounts: (a) Basic Lease Payment, and Operating Expenses payable for three (3) months of the Lease Period for all Premises actually transferred to the Lessee under the Lease Agreement/Supplementary Agreement to the Lease Agreement, subject to Indexation, plus VAT on such amount, and (b) Parking Fee payable for three (3) months of the Lease Period for all Parking Slots actually transferred to the Lessee under the Lease Agreement/Supplementary Agreement to the Lease Agreement, subject to Indexation, plus VAT on such amount;