Loss of Funds definition

Loss of Funds means the unaccounted loss of monies held either by a facility or by an administrative unit of the Commission.
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Loss of Funds means the loss of money from "Your" "Account", or the loss of money held on behalf of "Your" customers or clients. "Loss of Funds" shall not include:
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Loss of Funds. We mean: The actual monetary amount of the Funds Transfer from the Trust Account as a result of the fraudulent conduct of a third party, without collaboration from Your Business or Employees, which is irrecoverable from a Financial Institution or the Payee. The Funds Transfer must have occurred during the Period of Cover and Your Business must first have sought reimbursement from the Financial Institution that holds the Trust Account from which the funds were transferred.
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Examples of Loss of Funds in a sentence

  • We will indemnify Your Business against a Loss of Funds Event from a Trust Account that occurs during the Period of Cover.

  • We will indemnify Your Business against a Loss of Funds from Your Business Account that occurs during the Period of Cover.


More Definitions of Loss of Funds

Loss of Funds we mean: The principal amount of monetary loss incurred by You due to an Insured Event, exclusive of interest and fees, for which you have not received reimbursement in any way from any source whatsoever. The loss must be caused by an Insured Event, which occurred during the period of cover and for which You have sought reimbursement from the Outside Entity that holds the Account from which funds were transferred.
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Related to Loss of Funds

  • freezing of funds means preventing any move, transfer, alteration, use of, access to, or dealing with funds in any way that would result in any change in their volume, amount, location, ownership, possession, character, destination or other change that would enable the funds to be used, including portfolio management;

  • Loss of Use means the total and irrecoverable loss of function of an arm, hand, foot, leg or thumb and index finger of the same hand provided such loss of function is continuous for 12 consecutive months and such loss of function is thereafter determined on evidence satisfactory to Chubb Life to be permanent.

  • Consequential Loss means loss of profits, anticipated loss of profit or revenue, loss of production, loss of business opportunity, loss of or damage to goodwill or reputation, loss of use or any other similar loss, but excludes:

  • Redeployment means the reassignment of employees to other departments or jobs within the organization as an alternative to layoff, when a particular job or department has been eliminated by the organization.