Loss Funds definition

Loss Funds means, cash deposited into the Escrow Account in accordance with the terms of the Escrow Agreement and Section 4.28 of this Certificate of Incorporation. The Board shall designate such cash deposited into the Escrow Account as “Loss Funds” for purposes of calculating the Applicable Conversion Rate from and after the date of such deposit until any subsequent calculation or adjustment of the Applicable Conversion Rate.
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Examples of Loss Funds in a sentence

  • The Town has a right to the return of any Loss Funds set aside for claims which have not been paid out in benefits.

  • The City has a right to the return of any Loss Funds set aside for claims which have not been paid out in benefits.

  • The Trustees may, in their sole discretion, transfer monies among Loss Funds in the event of excessive losses in any one Loss Fund.

  • Title to the funds and property of the Trust, including without limitation Loss Funds, shall be vested in and remain exclusively in the Trust and no Participant shall have any right, title or interest in the Loss Funds except as set forth in the Coverage documents nor any right to Contributions made or to be made thereto, nor any claim against any other Participant on account thereof, except as provided by law or by amendment to this Agreement.

  • The funds and property of the Trust, including without limitation Loss Funds, shall not be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance or charge by any person other than the Trustees and their duly authorized representative to the extent and for the purposes as herein specifically provided.

  • Participants have the right to the return of any Loss Funds set aside for claims which have not been paid out as benefits.

  • Net Surplus, if any, shall accrue to the Loss Funds as it is earned.

  • Subject to any conditions approved by the Board (or committee as the case may be), the Corporation shall deposit such Loss Funds into the Escrow Account on the first Business Day after the end of the applicable Pricing Reference Period.

  • If the Corporation determines to deposit Loss Funds into the Escrow Account in accordance with the foregoing, the date on which the Board (or committee as the case may be) so approves shall be referred to as the “Funding Decision Date.” On the Funding Decision Date applicable to any anticipated deposit of Loss Funds, the Corporation shall calculate a Pricing Reference Period for such deposit of Loss Funds.

  • Notwithstanding the foregoing, the Corporation shall not sell Loss Shares or designate Loss Funds, in each case, in an amount which, taken cumulatively with all other Loss Shares issued and Loss Funds designated, will reduce the Applicable Conversion Rate to a number that is less than zero (0).

Related to Loss Funds

  • Excess Funds shall have the meaning set forth in Section 2(l) of this Agreement.

  • Reserve Funds means, collectively, the Tax and Insurance Escrow Fund, the Replacement Reserve Fund, the Required Repair Fund, the Initial Renovation Reserve Fund, the Interest Reserve Fund, the General Reserve Fund, any funds on deposit in the Construction Loan Reserve Account, any Shortfall Funds and any other escrow fund established pursuant to the Loan Documents.

  • Contract Funds means the funds that have been appropriated, designated, encumbered, or otherwise made available for payment by the State under this Contract.

  • Funds means financial assets and benefits of every kind, including, but not limited to: