FIRST LOSS AMOUNT Sample Clauses

The "First Loss Amount" clause defines the initial portion of a loss that one party, typically the insured or borrower, is responsible for before another party, such as an insurer or lender, becomes liable for additional losses. In practice, this means that if a loss occurs, the first specified amount must be absorbed by the primary party, and only losses exceeding this threshold are covered by the secondary party. This clause is commonly used in insurance and finance to allocate risk, incentivize risk management, and limit the exposure of the secondary party to only larger, less frequent losses.
FIRST LOSS AMOUNT. The Assuming Bank has submitted to the Receiver a transaction bid of ($7,651,000) (negative) and a Deposit premium bid of 3.88%. The Deposit premium bid will be applied to the total of all Deposits assumed hereunder except for brokered, CDARS, and any Quickrate or similar subscription services Deposits. The First Loss Amount shall be determined by adding (i) the transaction bid, (ii) the Deposit premium bid, and (iii) the Equity Adjustment. If the First Loss Amount is a positive number, then this is the Losses on Single Family Shared-Loss Loans and Net Charge-offs on Shared Loss Assets that the Assuming Bank will incur before loss- sharing commences under Exhibits 4.15A and 4.15B. If the First Loss Amount is a negative number, the Corporation shall pay such amount by wire transfer to the Assuming Bank by the end of the first business day following Bank Closing and loss sharing shall commence immediately.
View SourceView Similar (4)
FIRST LOSS AMOUNT. The Assuming Bank has submitted to the Receiver a First Loss Amount bid of a negative ($45,000,000.00). The First Loss Amount shall be adjusted by crediting that figure with the difference between the assets acquired and the liabilities assumed by the Assuming Bank as of Bank Closing (approximately $6,000,000.00) and including any prepayment penalty incurred by the Assuming Bank in paying off any liability assumed pursuant to Section 2.1(c) of this Agreement. If the First Loss Amount is a negative number, the Corporation shall pay such amount by wire transfer to the Assuming Bank by the end of the first business day following Bank Closing.
View Source
FIRST LOSS AMOUNT. The Assuming Bank has submitted to the Receiver a First Loss Amount bid of $ -0- (zero bid) for the Assets purchased and Liabilities Assumed hereunder. The First Loss Amount shall be adjusted either positively or negatively by the Net Asset Value as of the Bank Closing Date. If the First Loss Amount as adjusted by the Net Asset Value results in a negative number, the Corporation shall pay such amount by wire transfer to the Assuming Bank by the end of the first business day following Bank Closing.
View Source
FIRST LOSS AMOUNT. The Assuming Bank has submitted to the Receiver a First Loss Amount bid of a negative Nine Million Nine Hundred Thousand and no/100 [($ 9,900,000.00)] Dollars for the Assets purchased and Liabilities Assumed hereunder. The First Loss Amount will be increased by the amount of uninsured deposits determined by the FDIC on or before Monday, February 9, 2009 (or such other date as the parties may agree), less a premium on the uninsured deposits. The uninsured deposit premium is to be the lesser of four percent (4%) of uninsured deposits or Two Hundred Eighty Thousand and no/100 ($280,000.00) Dollars. Since the First Loss Amount is a negative number, the increase will make the First Loss Position a larger negative number, larger by the amount of uninsured deposits, net of the deposit premium on the uninsured deposits.
View Source

Related to FIRST LOSS AMOUNT

  • FIRST LOSS TRANCHE The Assuming Bank has submitted to the Receiver an asset premium (discount) bid of negative three billion dollars ($3,000,000,000) and a Deposit premium bid of zero percent (0%). The Deposit premium bid will be applied to the total of all Assumed Deposits except for brokered, CDARS, and any market place or similar subscription services Deposits. The First Loss Tranche shall be determined by adding (i) the asset premium (discount) bid, (ii) the Deposit premium bid, and (iii) the Equity Adjustment. If the First Loss Tranche is a positive number, then this is the Losses on Single Family Shared-Loss Loans and Net Charge-offs on Shared Loss Assets that the Assuming Bank will incur before loss-sharing commences under Exhibits 4.15A and 4.15B. If the First Loss Tranche is a negative number, the Corporation shall pay such amount by wire transfer to the Assuming Bank by the end of the first business day following Bank Closing and loss sharing shall commence immediately.

  • Special Hazard Loss Amount $ 0.00 --------------

  • Monthly Certificates Not later than fifteen (15) days after the end of each Shared-Loss Month, beginning with the month in which the Commencement Date occurs and ending in the month in which the tenth anniversary of the Commencement Date occurs, the Assuming Bank shall deliver to the Receiver a certificate, signed by an officer of the Assuming Bank involved in, or responsible for, the administration and servicing of the Single Family Shared-Loss Loans whose name appears on a list of servicing officers furnished by the Assuming Bank to the Receiver, (a “Servicing Officer”) setting forth in such form and detail as the Receiver may reasonably specify (a “Monthly Certificate”): (i) (A) a schedule substantially in the form of Exhibit 1 listing: (i) each Single Family Shared-Loss Loan for which a Loss Amount (calculated in accordance with the applicable Exhibit) is being claimed, the related Loss Amount for each Single Family Shared- Loss Loan, and the total Monthly Loss Amount for all Single Family Shared-Loss Loans; (ii) each Single Family Shared-Loss Loan for which a Recovery Amount was received, the Recovery Amount for each Single Family Shared-Loss Loan, and the total Recovery Amount for all Single Family Shared-Loss Loans; (iii) the total Monthly Loss Amount for all Single Family Shared- Loss Loans minus the total monthly Recovery Amount for all Single Family Shared-Loss Loans; (iv) the Cumulative Shared-Loss Amount as of the beginning and end of the month; (v) the Monthly Shared Loss Amount; (vi) the result obtained in (v) times 80%, or times 95% if the Stated Threshold has been reached, which in either case is the amount to be paid under Section 2.1(d) of this Single Family Shared-Loss Agreement by the Receiver to the Assuming Bank if the amount is a positive number, or by the Assuming Bank to the Receiver if the amount is a negative number; (ii) (B) for each of the Single Family Shared-Loss Loans for which a Loss is claimed for that Shared-Loss Month, a schedule showing the calculation of the Loss Amount using the form and methodology shown in Exhibit 2a, Exhibit 2b, or Exhibit 2c, as applicable.

  • Allocation of Applied Realized Loss Amounts Any Applied Realized Loss Amounts shall be allocated by the Trustee to the most junior Class of Subordinated Certificates then Outstanding in reduction of the Class Certificate Balance thereof.

  • Net Loss A Net Loss for a particular fund or, in the case of a multi-class fund, a class results when aggregate Losses exceed aggregate Benefits (i.e., net redemptions on a day the fund’s or class’s NAV is overstated or net subscriptions on a day the fund’s or class’s NAV is understated) during the Error Period.