Insurance Shortfall definition

Insurance Shortfall has the meaning set forth in Section 4.3 hereof.
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Insurance Shortfall. A Total Loss arises and the Total Loss Payment is less than the Vehicle Finance Payout. The amount by which the Vehicle Finance Payout exceeds the Total Loss Payment, up to a maximum of $10,000. No payments are waived in the following circumstances: a) The Named Person had no Comprehensive Motor Vehicle Insurance Policy at the time of the Total Loss.
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Insurance Shortfall means an amount equal to (i) the liabilities of the New Captive Insurance Company minus (ii) the assets of the New Captive Insurance Company, in each case of clauses (i) and (ii) determined in a manner consistent with the accounting principles, practices, methodologies and policies set forth on Section 1.1(g) of the Seller Disclosure Schedules; provided that if such number is a negative number then the Insurance Shortfall shall be equal to $0.
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Examples of Insurance Shortfall in a sentence

  • The office of Secretary is vacant due to the officer position resignation of Trustee Durrenberger due to time restraints.

  • In the alternative, during Landlord's Termination Period, Landlord may elect not to terminate this Lease in connection with the terms of this SECTION 8.5.2 and either proceed to fund such portion of ------------- the Insurance Shortfall and repair the damage to the Premises, or not proceed to repair the Damaged Area.

  • The Creditor’s payment waiver product offers various levels of protection covering the Events set out below: Death Incapacity Terminal Illness Redundancy Insurance Shortfall Elite Plus ✔ ✔ ✔ ✔ ✔ Elite ✔ ✔ ✔ ✔ Premium Plus ✔ ✔ ✔ ✔ Premium ✔ ✔ ✔ Economy Plus ✔ ✔ Economy ✔ Gap ✔ Protection will only apply to the Events that are included in the payment waiver option that the Borrower has chosen.

  • Each Party's Insurance Shortfall Contribution shall be payable on demand to the Trustee and shall become a lien on the applicable Owner's Lot, subject to the provisions of Section 10 of Article XIV.

  • To the extent the amount of such insurance proceeds shall be less than the amount necessary to restore the affected Lot(s) (the "Insurance Proceeds Shortfall"), the covered Parties shall reasonably agree on the amount of each Party's contribution (each, an "Insurance Shortfall Contribution") towards the Insurance Proceeds Shortfall.

  • Insurance Shortfall If the Borrower’s car is declared a Total Loss and the Total Loss Payment is less than the Vehicle Finance Payout.

  • Within thirty (30) days after Tenant's receipt of an Insurance Shortfall Notice, Tenant may elect to (i) terminate this Lease or (ii) (x) to require Landlord to restore the Building (or Premises or Utility Service) to substantially their condition immediately prior to the occurrence of such fire or other casualty and (y) to pay the difference between the net proceeds of insurance recovered and the total cost of restoration (the "Tenant Deficiency Election").

  • For the avoidance of doubt, the Pension Insurance Shortfall Amount is expected to be 6% of the Monthly Salary less the actual monthly pension contribution that is made under Section 8.1 (excluding any gross-up).

  • Taking Cover: How an Insurance Shortfall Leaves the Energy Sector ExposedWillis Towers Watson.

  • In the alternative, -50- XXXXXXX XXXXXX CENTER VENTURE, LLC [20th Century Industries; 6303 Owensmouth] during Landlord's Termination Period, Landlord may elect not to terminate this Lease in connection with the terms of this SECTION 8.5.2 and either proceed to ------------- fund such portion of the Insurance Shortfall and repair the damage to the Premises, or not proceed to repair the Damaged Area.

Related to Insurance Shortfall

  • Insurance Amount has the meaning set forth in Section 6.12(b).

  • Finance Charge Shortfall shall have the meaning specified in Section 4.09.

  • Available Funds Shortfall As defined in Section 3.03(b)(ii)(A).

  • Capitalization Reimbursement Shortfall Amount With respect to any Distribution Date and, with respect to any Mortgage Pool comprised of two or more Loan Groups, each Loan Group, the amount, if any, by which the amount of Advances or Servicing Advances that were added to the Stated Principal Balance of all Mortgage Loans (or, if the Mortgage Pool is comprised of two or more Loan Groups, on the Mortgage Loans in the related Loan Group) during the preceding calendar month exceeds the amount of principal payments on the Mortgage Loans included in the Available Distribution Amount (or, if the Mortgage Pool is comprised of two or more Loan Groups, Available Distribution Amount for the related Loan Group) for that Distribution Date.

  • Curtailment Shortfall For any Distribution Date and for any Curtailment received in the Prior Period, an amount equal to one month’s interest on such Curtailment at the Pass-Through Rate for the applicable Mortgage Loan.

  • Excess Cash Flow Payment Period means, with respect to the repayment required on each Excess Cash Flow Payment Date, the immediately preceding fiscal year of the Borrower.

  • Available Funds Shortfall Amount means, as of any Payment Date, the amount, if any, by which the aggregate amount required to be paid pursuant to clauses first through twelfth of Section 4.4(a) of the Sale and Servicing Agreement exceeds the Available Funds for such Payment Date.

  • Collateral Shortfall Amount is defined in Section 8.1.

  • Excess Cash Flow Payment Date means the date occurring 90 days after the last day of a fiscal year of the Parent (commencing with its fiscal year ending December 31, 2000).

  • Class A-P Collection Shortfall With respect to the Cash Liquidation or REO Disposition of a Discount Mortgage Loan and any Distribution Date, the excess of the amount described in Section 4.02(b)(i)(C)(1) over the amount described in Section 4.02(b)(i)(C)(2).

  • Accumulation Shortfall shall initially mean zero and shall thereafter mean, with respect to any Monthly Period during the Controlled Accumulation Period, the excess, if any, of the Controlled Deposit Amount for the previous Monthly Period over the amount deposited into the Principal Funding Account pursuant to subsection 4.9(c)(i) with respect to the Certificates for the previous Monthly Period.

  • Unpaid Realized Loss Amount With respect to any Class of Subordinated Certificates and as to any Distribution Date, is the excess of (i) the Applied Realized Loss Amounts with respect to such Class over (ii) the sum of (a) all distributions in reduction of such Applied Realized Loss Amounts on all previous Distribution Dates, and (b) the amount by which the Class Certificate Balance of such Class has been increased due to the distribution of any Subsequent Recoveries on all previous Distribution Dates. Any amounts distributed to a Class of Subordinated Certificates in respect of any Unpaid Realized Loss Amount will not be applied to reduce the Class Certificate Balance of such Class.

  • Delinquency Amount means, as of any Distribution Date, the Principal Balance of all Contracts that were delinquent 60 days or more as of the end of the related Due Period (including Contracts in respect of which the related Motorcycles have been repossessed and are still in inventory).

  • Principal Shortfall For any Distribution Date, the amount, if any, by which (i) the Principal Distribution Amount for the preceding Distribution Date exceeds (ii) the aggregate amount actually distributed with respect to principal on the Non-Vertically Retained Principal Balance Certificates on such preceding Distribution Date in respect of such Principal Distribution Amount.

  • Series Principal Shortfall means with respect to any Transfer Date, the excess, if any, of (a) (i) with respect to any Transfer Date relating to the Controlled Accumulation Period, the Controlled Deposit Amount for such Transfer Date, and (ii) with respect to any Transfer Date during the Rapid Amortization Period, the Adjusted Investor Interest over (b) the Investor Principal Collections minus the Reallocated Principal Collections for such Transfer Date.

  • Excess Overcollateralization Amount With respect to any Distribution Date, the excess, if any, of (a) the Overcollateralization Amount on such Distribution Date over (b) the Required Overcollateralization Amount for such Distribution Date.

  • Reserve Account Excess Amount means, with respect to any Payment Date, an amount equal to the excess, if any, of (a) the amount of cash or other immediately available funds in the Reserve Account (excluding any net investment earnings) on that Payment Date, after giving effect to all deposits to and withdrawals from the Reserve Account on such Payment Date, over (b) the Specified Reserve Account Balance with respect to such Payment Date.

  • insurance period means a contribution period or an equivalent period;

  • Monthly Loss Amount means the sum of all Foreclosure Losses, Restructuring Losses, Short Sale Losses, Portfolio Losses, Modification Default Losses and Deficient Losses realized by the Assuming Institution for any Shared Loss Month.

  • Special Hazard Loss Coverage Amount With respect to the first Distribution Date, $5,000,000. With respect to any Distribution Date after the first Distribution Date, the lesser of (a) the greatest of (i) 1% of the aggregate of the principal balances of the Mortgage Loans, (ii) twice the principal balance of the largest Mortgage Loan and (iii) the aggregate of the principal balances of all Mortgage Loans secured by Mortgaged Properties located in the single California postal zip code area having the highest aggregate principal balance of any such zip code area and (b) the Special Hazard Loss Coverage Amount as of the Closing Date less the amount, if any, of Special Hazard Losses allocated to the Certificates since the Closing Date. All principal balances for the purpose of this definition will be calculated as of the first day of the calendar month preceding the month of such Distribution Date after giving effect to Scheduled Payments on the Mortgage Loans then due, whether or not paid.

  • Excess Cash Payment Date means the date occurring 95 days after the last day of each Fiscal Year of Holdings (commencing with the Fiscal Year of Holdings ended December 31, 2010).

  • Excess Loss Account has the meaning set forth in Reg. Section 1.1502-19.

  • Collateral Minimum Monthly Interest shall have the meaning specified in subsection 4.02(c).

  • Excess Prepayment Interest Shortfall With respect to any Distribution Date, the aggregate of any Prepayment Interest Shortfalls resulting from any Principal Prepayments made on the Mortgage Loans to be included in the Aggregate Available Funds for such Distribution Date that are not covered by the Master Servicer’s Compensating Interest Payment for such Distribution Date and/or the portion of any compensating interest payments allocable to any Outside Serviced Mortgage Loan to the extent received from the related Outside Master Servicer.

  • Fair Share Shortfall means, with respect to a Contributing Guarantor as of any date of determination, the excess, if any, of the Fair Share of such Contributing Guarantor over the Aggregate Payments of such Contributing Guarantor. “Adjusted Maximum Amount” means, with respect to a Contributing Guarantor as of any date of determination, the maximum aggregate amount of the obligations of such Contributing Guarantor under this Guaranty or a Related Guaranty, in each case determined in accordance with the provisions hereof and thereof; provided that, solely for purposes of calculating the “Adjusted Maximum Amount” with respect to any Contributing Guarantor for purposes of this paragraph 2, the assets or liabilities arising by virtue of any rights to or obligations of contribution hereunder or under any similar provision contained in a Related Guaranty shall not be considered as assets or liabilities of such Contributing Guarantor. “Aggregate Payments” means, with respect to a Contributing Guarantor as of any date of determination, the aggregate amount of all payments and distributions made on or before such date by such Contributing Guarantor in respect of this Guaranty and the Related Guaranties (including, without limitation, in respect of this paragraph 2 or any similar provision contained in a Related Guaranty). The amounts payable as contributions hereunder and under similar provisions in the Related Guaranties shall be determined as of the date on which the related payment or distribution is made by the applicable Funding Guarantor. The allocation among Contributing Guarantors of their obligations as set forth in this paragraph 2 or any similar provision contained in a Related Guaranty shall not be construed in any way to limit the liability of any Contributing Guarantor hereunder or under a Related Guaranty. Each Contributing Guarantor under a Related Guaranty is a third party beneficiary to the contribution agreement set forth in this paragraph 2.

  • Interest Shortfall With respect to any Distribution Date and each Mortgage Loan that during the related Prepayment Period was the subject of a Principal Prepayment or constitutes a Relief Act Mortgage Loan, an amount determined as follows: