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

• To the extent authorized by law, my activities as a volunteer may be covered by the SCDNR's liability insurance coverage for third party claims against me, as provided through the Insurance Reserve Fund.

• For retirees whose spouse or domestic partner loses district insurance eligibility prior to age sixty-five (65), the Classified Insurance Reserve fund will reimburse the cost of Oregon PERS supplemental coverage, or if ineligible for PERS coverage, another supplemental Medicare plan.

• There shall be a Staff Benefits Subcommittee, comprised of the President of the OCCCSA or a designee, two of the staff representative members of the Insurance Review Committee, and three administrators, who shall determine the use of the Staff Insurance Reserve Fund.

• However, by March, 2021, either party may reopen the following articles: Work Year / furlough days, Appendix A (Compensation), I (Insurance Reserve Transfers), and Articles 17 (Insurance) and 19 (Compensation) and one additional article.

• USC shall carry such workers' compensation, comprehensive general liability, and other insurance as is available from the South Carolina Insurance Reserve Funds sufficient in amount to cover the performance of its obligations hereunder.

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 is defined in Section 7.2(a).

Insurance Reserve shall have the meaning set forth in Section 6.2.1.

Insurance Reserve means the specific funding of an insurance risk by allocation of assets, not necessarily segregated.