MAXIMUM PROBABLE LOSS definition
Examples of MAXIMUM PROBABLE LOSS in a sentence
Lender reserves the right to require earthquake insurance or Maximum Probable Loss insurance on a case by case basis in amounts determined by Lender.
Lender reserves the right to require earthquake insurance or Maximum Probable Loss insurance on a case by case basis in amounts determined by Lender subject to commercially reasonable terms and availability.
If the Property is in an area identified by any governmental, engineering or any hazard underwriting agencies as being subject to the peril of earthquake, with a Maximum Probable Loss (MPL) of between ten percent (10%) and twenty percent (20%), the Company or the applicable Company Subsidiary shall obtain earthquake insurance equal to fifty percent (50%) of the replacement cost of the Property.
Lender reserves the right to require earthquake insurance or Maximum Probable Loss insurance on a case-by-case basis based upon the reasonable recommendations of such engineer.
Lender reserves the right to require Maximum Probable Loss insurance on a case by case basis in amounts determined by Lender.
As soon as practicable after any such adjustment, the Facility Lessee shall, subject to the terms of this Section 11, cause the its property insurance policies to carry coverage of at least the adjusted Maximum Probable Loss.
In order to expedite the FAA licensing process and ensure public safety, the FAA and the AF agree to exchange information and data as needed regarding proposed FAA licensed launches, including, but not necessarily limited to, Maximum Probable Loss (MPL) data, MPL analyses, safety waiver requests and approvals, and changes affecting Baseline Assessments.
The amount of insurance obtained by Rocket Lab shall be no less than the FAA established Maximum Probable Loss amount set forth in the FAA Launch License (the “MPL”).