Insurance Reserve definition

Insurance Reserve funds envisaged herein that are transferred by the Merchant to the Bank and/or deducted by the Bank from the settled transaction proceeds before they are credited to the Merchant’s accounts. The Insurance Reserve is deposited into an intrabank account;

Insurance Reserve means a collateral reserve against casualty losses that would not be covered by insurance as a result of the self-insured retention deductible provision in the Borrower's property insurance (i) in an amount equal to $10,000,000 when the self-insured retention deductible under the Borrower's property insurance procured in accordance with Section 9.5 exceeds $15,000,000; (ii) in an amount equal to $5,000,000 when the self-insured retention deductible under the Borrower's property insurance procured in accordance with Section 9.5 exceeds $10,000,000 but is less than or equal to $15,000,000; and (iii) in an amount equal to $0 when the self-insured retention deductible under the Borrower's property insurance procured in accordance with Section 9.5 is less than or equal to $10,000,000.

Insurance Reserve. Amounts held as a reserve against payment of future health insurance claims of employees.

Examples of Insurance Reserve in a sentence

• If at any time the Tax Reserve, HOA Reserve, Capital Expenditures Reserve, or Insurance Reserve falls below the respective minimum balance described in this Section 7.3, Required Lenders shall notify Borrower in writing, and Borrower shall have fifteen (15) Business Days to deposit into the respective Reserve an amount sufficient to cause such Reserve to rise above the respective required minimum balance (the “Reserve Cure Deposit”).

• Upon request of Xxxxxxxx, Required Lenders agree to direct Collateral Agent in writing to transfer one or more of the Tax Reserve, the Insurance Reserve, and the Interest Reserve from the Cash Management Account to an account at another Eligible Institution reasonably acceptable to Required Lenders and under the sole dominion and control of Collateral Agent, for the benefit of Lenders, subject to a control agreement satisfactory to Required Lenders (the “Alternate Reserve Account”).

• If the City-Parish elects not to continue coverage for the District or St. Xxxxxx through the City-Parish Insurance Reserve Fund shall transfer to St. Xxxxxx an amount equal to the balance in the Insurance Reserve Fund on the Effective Date of this Intergovernmental Agreement multiplied by the Allocation Formula.

• The District and St. Xxxxxx shall be covered at all times from the Effective Date by the City-Parish’s Insurance Reserve Fund for services provided by the City-Parish.

• Such sums shall be held by Lxxxxx in the Tax and Insurance Reserve Account.

More Definitions of Insurance Reserve

Insurance Reserve is the reserve for insurance premiums established pursuant to Section 5.5.

Insurance Reserve has the meaning given to such term in Section 3.2(b)(ii) of this Agreement.

Insurance Reserve is defined in Section 5.5.

Insurance Reserve means as described in Section 3.3.

Insurance Reserve has the meaning given such term in Section 7.3.3.

Insurance Reserve is defined in Section 7.2(a).

Insurance Reserve shall have the meaning ascribed to such term in Section 6.6(c).