Loss of Funds definition

Loss of Funds. We mean: The actual monetary amount of the Funds Transfer from Your Business 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 Your Payee. This includes a Loss of Funds as a result of a Cyber Extortion Event. 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 Account from which the funds were transferred.
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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 means the unaccounted loss of monies held either by a facility or by an administrative unit of the Commission.
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Examples of Loss of Funds in a sentence

  • We will indemnify You against a Loss of Funds that occurs as a result of a Funds Transfer from Your Account due to the fraudulent conduct of a third party.


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

  • Cost of Funds means, with respect to a Loan in an Alternative Currency, the actual cost to a Lender of funding or maintaining such Loan in the applicable currency from whatever source it may reasonably select for the relevant Interest Period.

  • 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.

  • Loss of Limb means loss by physical severance of a hand at or above the wrist or of a foot at or above the ankle.

  • transfer of funds means any transaction at least partially carried out by electronic means on behalf of a payer through a payment service provider, with a view to making funds available to a payee through a payment service provider, irrespective of whether the payer and the payee are the same person and irrespective of whether the payment service provider of the payer and that of the payee are one and the same, including:

  • Loss of Stock Borrow means that the Issuer and/or any Affiliate is unable, after using commercially reasonable efforts, to borrow (or maintain a borrowing of) any Share in an amount equal to the Hedging Shares at a rate equal to or less than the Maximum Stock Loan Rate.

  • Consequential Damages means Losses claimed to have resulted from any indirect, incidental, reliance, special, consequential, punitive, exemplary, multiple or any other Loss, including damages claimed to have resulted from harm to business, loss of anticipated revenues, savings, or profits, or other economic Loss claimed to have been suffered not measured by the prevailing Party’s actual damages, and any other damages typically considered consequential damages under Applicable Law, regardless of whether the Parties knew or had been advised of the possibility that such damages could result in connection with or arising from anything said, omitted, or done hereunder or related hereto, including willful acts or omissions.

  • Loss of Speech means the disability in articulating any three of the four sounds which contribute to the speech such as the Labial sounds, the Alveololabial sounds, the Palatal sounds and the Velar sounds or total loss of vocal cord or damage of speech center in the brain resulting in Aphasia.

  • Direct Damage has the meaning given to it in clause 26.2;

  • 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:

  • Loss of Sight means the entire, permanent and irrecoverable loss of sight.

  • General Account consists of all our assets other than those held in any separate investment accounts.

  • Loss of Hearing means the total and complete loss of the ability to hear any sound as a result of a Covered Accident. The loss must be certified by a Legally Qualified Physician that the loss of hearing is permanent with no reasonable expectation of recovery.

  • Fundserv means the facility maintained and operated by Fundserv Inc. for electronic communication with participating companies, including the receiving of orders, order match, contracting, registrations, settlement of orders, transmission of confirmation of purchases, and the redemption of investments or instruments.

  • 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.

  • Conditions of Tender means the Conditions of Tender for the said land as set out in Annexure A;

  • Subsidiary Agreement means the agreement referred to in Section I.B of Schedule 2 to this Agreement pursuant to which the Recipient shall make the proceeds of the Financing available to the Project Implementing Entity.

  • Legitimate law enforcement purpose means a goal within the lawful authority of an officer that is to be achieved through methods or conduct condoned by the officer’s appointing authority.