Insurance Add-On Amount definition

Insurance Add-On Amount means the premium charged to the Obligor in the event that the Servicer obtains Force-Placed Insurance pursuant to Section 4.4.
Sample 1Sample 2Sample 3
Insurance Add-On Amount. The premium charged to the Obligor in the event that the Servicer obtains Force-Placed Insurance pursuant to Section 3.4.
Sample 1Sample 2Sample 3
Insurance Add-On Amount. As defined in Section 9.5(c).
Sample 1Sample 2

Examples of Insurance Add-On Amount in a sentence

  • For all purposes of this Agreement, the Insurance Add-On Amount with respect to any Receivable having Force-Placed Insurance will be treated as a separate obligation of the Obligor and will not be added to the Principal Balance of such Receivable, and amounts allocable thereto will not be available in respect of the Obligations.

  • If an Obligor makes a payment with respect to a Receivable having Force-Placed Insurance, but the Servicer is unable to determine whether the payment is allocable to the Receivable or to the Insurance Add-On Amount, the payment shall be applied first to any unpaid Scheduled Payments and then to the Insurance Add-On Amount.

  • Recoveries on any Receivable will be used first to pay the Principal Balance and accrued interest on such Receivable and then to pay the related Insurance Add-On Amount.

  • If an Obligor under a Receivable with respect to which the Servicer has placed Force-Placed Insurance fails to make scheduled payments of such Insurance Add-On Amount as due, and the Servicer has determined that eventual payment of the Insurance Add-On Amount is unlikely, the Servicer may, but shall not be required to, purchase such Receivable from the Borrower for the Purchase Amount on any subsequent Distribution Date.


More Definitions of Insurance Add-On Amount

Insurance Add-On Amount. The premium charged to the Obligor in the event that the Servicer obtains Force-Placed Insurance pursuant to Section 3.4. INSURANCE AGREEMENT: The Insurance and Indemnity Agreement, dated as of September 18, 1997, among the Security Insurer, the Trust, the Seller and AFL.
Sample 1
Insurance Add-On Amount. As defined in Section 3.4.
Sample 1

Related to Insurance Add-On Amount

  • Insurance adjuster means a person who directs or conducts the investigation, negotiation, or settlement of a claim under an insurance policy other than life insurance or an annuity, on behalf of an insurer, policyholder, or a claimant under an insurance policy.

  • Insurance Costs means the sums described in paragraph 1.1 of Part 5 of the Schedule;

  • Principal Protection Amount means an amount per ETP Security, in respect of each Tranche of ETP Securities, corresponding to 2.00 per cent of the Principal Amount for the ETP Security of such Tranche.

  • Cash Value Insurance Contract means an Insurance Contract (other than an indemnity reinsurance contract between two insurance companies) that has a Cash Value greater than $50,000.

  • Acceptable Insurance Default shall have the meaning assigned to such term or analogous term in the Servicing Agreement.

  • Reimbursement insurance policy means a policy of insurance

  • Insurance Assignment means the valid and effective first legal assignment of the Insurances (together with the notice thereof), to be executed by the Borrower in respect of the Vessel in favour of the Trustee, such assignment and notice to be in the form and on the terms and conditions required by the Agent and the Hermes Agent and agreed on the signing hereof and as specified in paragraph 42 of Schedule 4;