Physical Damage Insurance Policy definition

Physical Damage Insurance Policy means a theft and physical damage insurance policy maintained by the Obligor under a Receivable, providing coverage against loss or damage to or theft of the related Financed Vehicle.
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Physical Damage Insurance Policy means with respect to a Financed Vehicle, any policy of physical damage, comprehensive or collision insurance covering the Financed Vehicle pursuant to which a Servicer may obtain recoveries for loss or damage to the Financed Vehicle. "Purchasing Agreement" means the Master Contract Purchase Agreement, dated as of the date hereof, by and between the Company and TFC as the purchaser, providing among other things, for the purchasing of the Contracts, as said agreement may be amended or supplemented from time to time as permitted thereby. "Record Date" for the interest and any principal payable on any Payment Date means the first day (whether or not a Business Day) of the month in which such Payment Date occurs.
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Physical Damage Insurance Policy. Any fire, property damage or other hazard insurance policy or program maintained by any Person (including the Seller or the Obligor) with respect to any Equipment.
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Examples of Physical Damage Insurance Policy in a sentence

  • The Receivable requires the Obligor to insure the Financed Vehicle under a Physical Damage Insurance Policy, pay the premiums for such insurance and keep such insurance in full force and effect.

  • It is understood that Servicer will not "force-place" any Physical Damage Insurance Policy on any Financed Vehicle.

  • No Receivable has a Principal Balance which includes capitalized interest, late charges or amounts attributable to the payment of the premium for any Physical Damage Insurance Policy.

  • The Receivables require that each Financed Vehicle be insured under a Physical Damage Insurance Policy.

  • It is understood that Servicer will not “force-place” any Physical Damage Insurance Policy on any Financed Vehicle.

  • Each Receivable requires the Obligor to insure the Financed Vehicle under a Physical Damage Insurance Policy, pay the premiums for such insurance and keep such insurance in full force and effect.

  • No Subsequent Receivable has a Principal Balance which includes capitalized interest, late charges or amounts attributable to the payment of the premium for any Physical Damage Insurance Policy.

  • Servicer shall not release any Financed Vehicle from the security interest granted by the related Receivable in whole or in part, except upon payment in full of the Receivable, release of such security interest to the insurance company in connection with a total loss claim under a Physical Damage Insurance Policy or as otherwise contemplated herein.

  • Seller, in accordance with its customary procedures has determined that the Obligor, at the time the Receivable was originated, obtained a Physical Damage Insurance Policy.

  • The sale by the Seller will not constitute and is not intended to result in an assumption by the Trustee or any Certificateholder of any obligation of the Seller to the Obligors or any other Person in connection with the Contracts, the Contract Files, any Physical Damage Insurance Policy or other insurance covering the Equipment or under any agreements or instruments relating to any of the foregoing.


More Definitions of Physical Damage Insurance Policy

Physical Damage Insurance Policy means the physical damage, recovery/repatriation coverages and loss of revenue policy issued by various underwriters described thereon, a copy of which shall be on file with the Delaware Trustee at all times, and shall include any other replacement policy thereto that is substantially similar to it.
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Physical Damage Insurance Policy has the meaning set forth in Section 3.3(d).
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Related to Physical Damage Insurance Policy

  • 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.

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

  • Company Insurance Policies has the meaning set forth in Section 4.15.

  • Physical Damage means any tangible injury to a Property, whether caused by accident, natural occurrence, or any other reason, including damage caused by defects in construction, land subsidence, earth movement or slippage, fire, flood, earthquake, riot, vandalism or any Environmental Condition.

  • Errors and Omissions Insurance Policy means an errors and omissions insurance policy maintained by the Master Servicer, the Special Servicer, the Trustee, the Custodian or the Certificate Administrator, as the case may be, in accordance with Section 8.2, Section 9.2 and Section 7.17, respectively.

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

  • Fidelity Insurance means insurance coverage with respect to employee errors, omissions, dishonesty, forgery, theft, disappearance and destruction, robbery and safe burglary, property (other than money and securities) and computer fraud in an aggregate amount acceptable to Seller’s regulators.

  • 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.

  • General Liability Insurance Subcontractor shall carry minimum primary General Liability Insurance for the following amounts:

  • Liability Insurance means compulsory professional liability errors and omissions insurance required by a governing body;

  • Property Insurance is defined in Section 6.10(a).

  • Special Primary Insurance Policy Any Primary Insurance Policy covering a Mortgage Loan the premium of which is payable by the Trustee pursuant to Section 4.04(a), if so identified in the Mortgage Loan Schedule. There are no Special Primary Insurance Policies with respect to any of the Mortgage Loans.

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

  • Mortgage Impairment Insurance Policy A mortgage impairment or blanket hazard insurance policy as described in Section 4.11.

  • Hazard Insurance Policy means, with respect to each Contract, the policy of fire and extended coverage insurance (and federal flood insurance, if the Manufactured Home is secured by an FHA/VA Contract and such Manufactured Home is located in a federally designated special flood area) required to be maintained for the related Manufactured Home, as provided in Section 5.09, and which, as provided in said Section 5.09, may be a blanket mortgage impairment policy maintained by the Servicer in accordance with the terms and conditions of said Section 5.09.

  • Certificate Insurance Policy The Certificate Guaranty Insurance Policy No. AB1094BE, dated the Closing Date, including any endorsements thereto issued by the Certificate Insurer to the Trustee for the benefit of the Holders of the Insured Certificates, a form of which is attached as Exhibit L hereto.

  • 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.

  • Insurance Policies has the meaning set forth in Section 3.16.

  • Standard Hazard Insurance Policy means a fire and casualty extended coverage insurance policy in such amount and with such coverage as required by this Agreement.

  • Life Insurance Policy has the meaning given in Section 6.10.

  • Environmental Damage means any injury or damage to persons, living organisms or property (including offence to man’s senses) or any pollution or impairment of the environment resulting from the discharge, emission, escape or migration of any substance, energy, noise or vibration;

  • Professional liability insurance means insurance against legal liability incident to the practice of a profession and provision of a professional service.

  • Primary Mortgage Insurance Policy Any primary mortgage guaranty insurance policy issued in connection with a Mortgage Loan which provides compensation to a Mortgage Note holder in the event of default by the obligor under such Mortgage Note or the related Security Instrument, if any or any replacement policy therefor through the related Interest Accrual Period for such Class relating to a Distribution Date.

  • Legal Liability means responsibility which courts recognize and enforce between persons who sue one another.