Ascertained Net Loss definition

Ascertained Net Loss means such amount in excess of any deductible stated in the Schedule as represents expenses which have been irrevocably expended in connection with the Insured Event(s) which have been necessarily Cancelled, Abandoned, Postponed, Interrupted, Curtailed or Relocated, less such part of the Gross Revenue retained less any savings the Assured is able to effect to mitigate such loss

Ascertained Net Loss means the: (i) principal outstanding under the Loan Documents (but in no event more than the beginning principal as of the Claim Date as set forth on Schedule C hereto); plus (ii) one Monthly Payment if advanced by Named Insured or its Authorized Agent on or after the Claim Date; plus (iii) any Protective Advance; plus (iv) any prepayment penalty or premium required to be paid by Owner under the Loan Documents but, in no event, to exceed 5% of the principal outstanding under the Loan Documents (but in no event more than the beginning principal as of the Claim Date as set forth on Schedule C hereto); less

Ascertained Net Loss means, with respect to each Property that is the subject of Condemnation:

Examples of Ascertained Net Loss in a sentence

• If the Company pays Ascertained Net Loss in a lump sum, in no event shall the Company's obligation to pay Ascertained Net Loss exceed the outstanding principal balance of the Loan plus unpaid, accrued interest at the rates provided in the Loan Documents from the date the Company is obligated to make payment as provided in Condition C until the date Ascertained Net Loss is paid in full.

• If the Company pays Ascertained Net Loss in periodic payments, in no event shall the Company's obligation to pay Ascertained Net Loss exceed the sum of all periodic payments of Base Rent that would be payable under the Lease, if the Lease had not been terminated, for the period commencing on the effective date of Lease termination and ending on the stated expiration date of the Initial Term of the Lease.

• The Company will pay to the Trustee the Ascertained Net Loss covered under this policy within fifteen (15) business days after the Company receives a sworn proof of loss complying with the requirements of Condition B, together with a duly executed Non-Waiver Agreement in the form of Exhibit A attached hereto.

• The Company shall not be required to pay any Ascertained Net Loss until it receives a proof of loss in compliance with this Condition B.

• If the Company has timely paid the Ascertained Net Loss to the Insured in a lump sum, the Insured shall hold such recovery or other payment in trust for the Company.

More Definitions of Ascertained Net Loss

Ascertained Net Loss means, with respect to each Property that is the subject of Property Damage in the event of a Lease termination, the sum of all periodic payments of Base Rent that would be payable under the Lease, if the Lease had not been terminated, for the period commencing on the effective date of Lease termination and ending on the stated expiration date of the Initial Term of the Lease.

Ascertained Net Loss means, with respect to each Property that is the subject of Property Damage, (1) in the event of a Lease termination, the sum of all periodic payments of Base Rent that would be payable under the Lease, if the Lease had not been terminated, for the period commencing on the effective date of Lease termination and ending on the stated expiration date of the Initial Term of the Lease, or (2) in the event of Rent Abatement, the total Base Rent abated from the date Rent Abatement commences until the earlier of the date Rent Abatement ceases or the stated expiration date of the Initial Term of the Lease.

Ascertained Net Loss. Means such sums in excess of any deductible stated in the Schedule as represent: -that part of the Expenses which have been irrevocably expended in connection with the Insured T rip, less any savings the Insured is able to effect to mitigate such loss.

Ascertained Net Loss means such amount in excess of any Deductible stated in the Declarations applicable to this Coverage Form as represents:

Ascertained Net Loss means such amount in excess of any deductible stated in the Schedule as represents:

Ascertained Net Loss means such sums as represent:

Ascertained Net Loss means the amount payable to the Insured calculated as follows:Before the establishment of an amount owing: costs and commitments incurred directly associated with the performance of the Local Portion of the Insured Contract by the Insured up to the date of the occurrence of a loss and which are not reimbursed at the expiry of the Waiting Period and/or costs and commitments invoiced in accordance with Article “Termination” of the terms and conditions of the Insured Contract, being those costs described in article xx of the General Conditions of Contract of the Insured Contract and relating to the Local Portion only, and which include profit up to a maximum of 10% of sum of costs as described herein. Such local profit as well as the said local costs must have been allocated to the Local Portion of the Insured Contract according to the Insured's standard accounting practice as independently verified by the Insured's auditors and calculated as at the Date of Loss;for losses incurred under Insured Event 1.iii “Arbitration Award Refusal” the amount of the award or judgment relating to the Local Portion of the Insured Contract only which remains unpaid after 90 days. After the establishment of an amount owing: the value of certified invoices that remains unpaid after the expiry of the Waiting Period less (unless, for Insured Event 1.iii these have already been taken into account in the calculation of costs): any amount (including any advance payments) which, prior to the payment of sums due hereunder, the Insured has received from any source as or toward payment under the Local Portion of the Insured Contract including realisation of any security and resale of the Insured Goods;any amount which the Buyer would have been entitled to take into account by way of payment, credit, set off or counterclaim and any sums or credits which the Insured is entitled to appropriate as or towards payment of the purchase price for the Local Portion under the Insured Contract, any expenses saved by the Insured by the non-payment of agent's commission or otherwise;any local tax saved by the Insured on unpaid insured payments.