Covered Risk means any event described in the relevant sections of the General Conditions for any risk specified in Clause 7 of the Special Conditions.
Covered Risk means the risk specified in Clause 7 of the Special Conditions. “Current Amount of Guarantee” means, for any Contract Period, the sum of:
Examples of Covered Risk in a sentence
With respect to Covered Risk 5(d), "Public Records" shall also include environmental protection liens filed in the records of the clerk of the United States District Court for the district where the Land is located.
With respect to Covered Risk 5(d), “Public Records” shall also include environmental protection liens filed in the records of the clerk of the United States District Court for the district where the Land is located.
Any assessment of Actual Loss which is required under Section 2.2 of the Policy will be determined as at the date you discover the Covered Risk.
We insure you in respect of Authorised Expenses which are incurred by you or which we agree to pay or are required to pay under the Policy as a result of a Covered Risk up to the Policy Amount.
The Policy provides cover in relation to certain loss or damage arising from a Covered Risk.
More Definitions of Covered Risk
Covered Risk means the risk of loss in the event of default in payment of any Subloan made by a PFI to an Eligible MSME, under the terms, conditions and exceptions set forth in the Partial Guarantee Operational Manual.
Covered Risk with respect to each Foreign Receivable which is due from a Customer located in any other Foreign Country ("GMAC Receivable"), and designated in our credit approval as approved for coverage for the Covered Risk, respectively.
Covered Risk means the risk of loss in the event of default in payment of any loan extended to an Eligible Enterprise (as defined hereinafter) by a Risk Sharing Financial Institution (as defined hereinafter), which risk is covered under a Guarantee Certificate issued by the Risk Sharing Guarantee Company to such Risk Sharing Financial Institution for a loan portfolio selected in accordance with criteria set out in Schedule 7 to this Agreement;
Covered Risk means the risk of loss in the event of default in payment of any loan extended to an Eligible Enterprise (as defined hereinafter) by a Risk Sharing Financial Institution (as defined hereinafter), which risk is covered under a Guarantee Certificate issued by the Risk Sharing Guarantee Company to such Risk Sharing Financial Institution for a loans selected in accordance with criteria set out in Schedule 5 to this Agreement.
Covered Risk means the following:
A. The Insolvency of any of your Customers.
B. The failure of a Customer to pay us solely due to the financial inability of the Customer to pay the amount owing under the contract within 6 months of original due date of payment and excluding the Customer's failure to pay as the result of an Unresolved Dispute, as defined in and subject to the terms of Section 17 hereof.
C. General moratorium decreed by the government of the Customer's country or by that of a third country through which payment must be effected.
D. Any other measures or decision of the government of a foreign country which in whole or in part prevents performance of the contract which forms the basis of the Foreign Receivable.
E. Political events, economic difficulties, legislative or administrative measures which prevent or delay the transfer of payments or deposits made in respect to the contract which forms the basis of the Foreign Receivable.
F. The operation of a law in the Customer's country which gives him a valid discharge of the debt under that law (but not under the governing law of the contract) notwithstanding that, because of exchange rate fluctuations, the payments he has made when converted into the currency of the contract, are less than the amount of debt at the date of transfer.
G. The occurrence outside your country of war (including civil war, hostilities, rebellion and insurrection) revolution or riot, cyclone, flood, earthquake, volcanic eruption or tidal wave which in whole or in part prevents performance of the contract underlying the Foreign Receivable.
H. The failure or refusal on the part of a public customer to fulfill any of the terms of the contract underlying the Foreign Receivable. (This cause of loss shall only apply where we have stated in the Credit Limit that the Customer is a public Customer.)
Covered Risk shall have the meaning ascribed thereto in the Export Receivable Rider.
Covered Risk means the following:
A. The Insolvency of any of your Customers.
B. The failure of a Customer to pay us solely due to the financial inability of the Customer to pay the amount owing under the contract within 6 months of original due date of payment and excluding the Customer’s failure to pay because of any claim by the Customer that it is justified in withholding payment in *****.
C. A general moratorium decreed by the government of the Customer’s country or by that of a third country through which payment must be effected.
D. Any other measures or decision of the government of a foreign country which in whole or in part prevents performance of the contract which forms the basis of the Foreign Receivable.
E. Political events, economic difficulties, legislative or administrative measures which prevent or delay the transfer of payments or deposits made in respect to the contract which forms the basis of the Foreign Receivable.
F. The operation of a law in the Customer’s country which gives him a valid discharge of the debt under that law (but not under the governing law of the contract) notwithstanding that, because of exchange rate fluctuations, the payments he has made when converted into the currency of the contract, are less than the amount of debt at the date of transfer.
G. The occurrence outside the United States of war (including civil war, hostilities, rebellion and insurrection) revolution or riot, cyclone, flood, earthquake, volcanic eruption or tidal wave which in whole or in part prevents performance of the contract underlying the Foreign Receivable.