Insurance Cap definition

Insurance Cap has the meaning specified in Section 5.12(b).

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Insurance Cap has the meaning set forth in Section 6(e)(ii) below.

Insurance Cap has the meaning set forth in Section 8.19(b).

Examples of Insurance Cap in a sentence

• The defined Cost Pass-through Events with this materiality threshold are: Insurance Cap Event; insurer credit risk event; natural disaster event; regulatory change event; service standard event; tax change event; and terrorism event.

• For the purposes of this Lease, the Insurance Cap Amount for any Policy Year shall be an amount equal to two and one-half (2-1/2) times the Annual Insurance Base Amount, as adjusted by any increases in the "CPI" (as defined in Lease Rider No. 1) from the date of this Lease to the date of the Policy Year in question.

• If at any time during the Lease Term during which Landlord is the Insuring Party, the annual premiums and related fees for the insurance carried by Landlord pursuant to Paragraph 8.1, above, exceeds the "Insurance Cap Amount" (as defined herein), Tenant shall not be required to pay any portion of such premiums and related fees exceeding the Insurance Cap Amount.

• Notwithstanding the foregoing sentence, Borrower shall not be obligated to expend more than $150,000.00 in any fiscal year on Insurance Premiums for Terrorism Insurance (the “Terrorism Insurance Cap”), increased annually based on increases in the CPI Index, and if the cost of the Terrorism Insurance Required Amount exceeds the Terrorism Insurance Cap, Borrower shall purchase the maximum amount of Terrorism Insurance available with funds equal to the Terrorism Insurance Cap.

• In the event that the annual premium for terrorism coverage in an amount equal to the Full Replacement Cost coverage exceeds the Terrorism Insurance Cap, Borrower shall be required to maintain as much terrorism coverage as is available for a premium equal to the Terrorism Insurance Cap.

More Definitions of Insurance Cap

Insurance Cap has the meaning assigned to such term in Section 7.12(b).

Insurance Cap is defined in Section 6.11(b) of this Agreement.

Insurance Cap shall have the meaning specified in Section 10.4 of the Agreement.

Insurance Cap means each relevant cap or maximum liability amount as determined in each Credit Insurance Contract.

Insurance Cap means the maximum liability of an Insurance Coverage Provider in respect of a Customer.

Insurance Cap has the meaning set forth in Section 7.10(d) . (ddd) “Knowledge” means, as to a party, the knowledge of an Officer of such party and Officers of such party’s subsidiaries, and includes a fact or other matter of which an individual is actually aware of or a prudent individual could be expected to discover or otherwise become aware of such fact or other matter in the course of conducting a reasonably comprehensive investigation concerning the existence of such fact or matter.

Insurance Cap means £25,000,000;