Coverage Event means (A) the occurrence of both of the following events: (i) the Administrative Agent shall have determined and notified the Investment Manager in writing as of any date that the Net Asset Value does not equal or exceed the product of (a) the Market Value Trigger specified on the Transaction Schedule and (b)(x) the principal amount of the outstanding Advances (assuming that Advances have been made for any outstanding Purchase Commitments which have traded but not settled) minus (y) the amounts then on deposit in the Accounts (including cash and Eligible Investments) representing Principal Proceeds and Excess Interest Proceeds; provided that, solely for the purposes of calculating the Net Asset Value under this clause (A)(i), the Market Value for any Portfolio Asset shall not be greater than the par amount thereof; and (ii) a Coverage Event Cure Failure or (B) if in connection with any Coverage Event Cure, a Portfolio Investment sold, contributed or deemed to have been contributed to the Company shall fail to settle within (1) fifteen (15) Business Days from the related Trade Date thereof with respect to Portfolio Investments consisting of loans, and (2) three (3) Business Days from the related Trade Date thereof with respect to Portfolio Investments consisting of Corporate Bonds or, in each case, in such longer period as may be agreed to by the Administrative Agent in its sole discretion; provided that, the failure of such sale, contribution or deemed contribution to settle within the applicable time frame shall not constitute a “Coverage Event” if the condition set forth in clause (A)(i) of this definition of “Coverage Event” is otherwise satisfied at the end of such time frame.
Coverage Event means the event or loss which must occur or be sustained in order to invoke coverage under the Crime Coverage Section.
Coverage Event means, with respect to the Crime Coverage Section, the event or loss which must occur or be discovered in order to invoke coverage under such Coverage Section.
Examples of Coverage Event in a sentence
Screen 6: Purchase Coverage Event Title 2022 Post-Commencement Celebration Contact Name Parent/guardian or student sponsor.
Coverage Event means the event or loss which must occur or be sustained or discovered, in order to invoke coverage under each Non-Liability Coverage Part.
Coverage Event means the event or loss which must occur or be sustained or discovered in order to invoke coverage under the applicable Non-Liability Coverage Section.
If a final judgment is rendered, a settlement or Discovered Coverage Event is denominated, or another element of loss under this Policy is stated in a currency other than Canadian Dollars, payment under this Policy will be made in Canadian Dollars at the rate of exchange published by the Bank of Canada on the date the final judgment is reached, the amount of the settlement is agreed upon, the Coverage Event is Discovered, or any other element of loss is due, respectively.
The Insurer’s liability as respects any Coverage Event applies only to that amount in excess of the applicable Retention set forth in ITEM 6.A. of the Declarations.
More Definitions of Coverage Event
Coverage Event has the meaning given to it in clause 28.1.
Coverage Event means the First Party Insured Event, Identity Fraud, Insured Event, or Single Loss that must occur or be Discovered in order to invoke coverage under a First Party Coverage Section. Coverage Section means, collectively, the Declarations, the Application, the policy form, and any endorsements attached thereto, of any First Party Coverage Section or Liability Coverage Section purchased as set forth in in ITEM 5 of the Declarations, which constitute the entire agreement between the Insurer and the Insured. Financial Impairment means the status of the Insured Organization or Outside Entity resulting from: 1. the appointment by any federal, provincial, territorial, or state official, agency or court of an examiner, receiver, conservator, liquidator, trustee, or rehabilitator, or any functional equivalent position, to take control of, supervise, manage, or liquidate the Insured Organization or Outside Entity; 2. the appointment by a creditor exercising its rights pursuant to a written instrument of any agent, receiver, or receiver and manager; 3. a reorganization proceeding relating to the Insured Organization or Outside Entity brought pursuant to the Companies’ Creditors Arrangement Act or Bankruptcy and Insolvency Act; the Insured Organization or Outside Entity becoming a debtor in possession under the U.S. Bankruptcy Code, Chapter 11; or 4. any foreign equivalent appointment or reorganization.
Coverage Event as defined in the definition of Applicable Rate.
Coverage Event means (A) the occurrence of both of the following events: (i) the Administrative Agent shall have determined and notified the Investment Manager in writing (with a copy to the Collateral Agent) as of any date that the Net Asset Value does not equal or exceed the product of (a) the Market Value Trigger specified on the Transaction Schedule and (b)(x) the principal amount of the outstanding Advances (assuming that Advances have been made for any outstanding Purchase Commitments which have traded but not settled) minus (y) the amounts then on deposit in the Accounts (including cash and Eligible Investments) representing Principal Proceeds and Excess Interest Proceeds; provided that, solely for the purposes of calculating the Net Asset Value under this clause (A)(i), the Market Value for any Portfolio Asset shall not be greater than the par amount thereof; and (ii) a Coverage Event Cure Failure or (B) if in connection with any Coverage Event Cure, a Portfolio Investment sold, contributed or deemed to have been contributed to the Company shall fail to settle within (1)
Coverage Event has occurred of the Parent's intention to contribute one or more Portfolio Investments to the Company to cure such event and requests the related consent thereto, the Administrative Agent shall respond to such request no later than two (2) Business Day after such notice is received. "Coverage Event Cure Failure" means the failure by the Company to effect a Coverage Event Cure as set forth in the definition of such term. "Coverage Event Cure Period" means the period commencing on the Business Day on which the Administrative Agent notifies the Investment Manager (which such notice shall be given by the Administrative Agent prior to 2:00 p.m., New York City time, on any Business Day, and if not given by such time, such notice shall be deemed to have been given on the next succeeding Business Day) of the occurrence of the events set forth in clause (A)(i) of the
Coverage Event means the event or loss which must occur, be sustained or discovered in order to invoke coverage under each Non-Liability Coverage Section.
Coverage Event means the event or loss which must occur or be sustained or dis- covered in order to invoke coverage under the applicable "non-liability coverage section".