Observed Weather Index definition

Observed Weather Index means the observed value of the Weather Index against the weather parameters covered in the Policy, which observed value will be used for determining the Strike Index or the Exit Index, during the Period of Insurance.
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Observed Weather Index means the observed value of the Weather Index against the weather parameters covered in the Policy, which observed value will be used for determining the Strike or the Exit , during the Period of Insurance. The data can be taken from a physical weather station situated on ground or modelled index data based on satellite/atmospheric observations or a combination of all.
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Observed Weather Index means the observed value of the Weather Index based on Actual Weather Data of the cover period, which observed value will be used as additional information for claims evaluation for specific events such as prevented sowing & localised calamities etc.
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Examples of Observed Weather Index in a sentence

  • The Company shall not be liable to compensate the Insured or pay any amount, in the event that the Observed Weather Index is lower than the Strike Index in case of coverage for excess weather parameter cover or In the event that the Observed Weather Index is greater than the Strike Index in case of coverage for deficient weather parameter cover during the Period of Insurance.

  • In the event that, in the geographical location and during the time period specified in Term Sheet of the Schedule attached to this Policy, the Observed Weather Index is greater or lower than the Strike Index, the benefit payable to the Insured shall be as per the Payment Formula specified in the term sheet of the Schedule, subject to a maximum of the Sum Insured for a given phase.

  • The Company shall procure the certified weather data from the institutions or departments authorized to maintain such records, as has been explicitly informed & voluntarily accepted by the insured at the time of inception of the policy to calculate the Observed Weather Index.

  • Observed Weather Index: means the observed value of the Weather Index based on Actual Weather Data of the cover period, which observed value will be used for determining the claims amount, during the Period of Insurance.16.

  • The Company shall not be liable to compensate the Insured or pay any amount in the event that the Observed Weather Index is lower than the Strike Index in case of coverage for excess weather parameter cover or In the event that the Observed Weather Index is greater than the Strike Index in case of coverage for deficient weather parameter cover during the Period of Insurance.

  • Reference Weather Station: means the primary weather station as specified in the Schedule, the weather data of which would be utilised to compute the Observed Weather Index during the Policy Period for the purpose of claims calculation and settlement under the policy.12.

  • In the event that, in the geographical location and during the time period specified in Term Sheet of the Schedule attached to this Policy, the Observed Weather Index is greater or lower than the Strike Index, the benefit payable to the Insured shall be as per the Payment Formula specified in the term sheet of the Schedule, subject to a maximum of the Sum Insured.

  • In event that, in a geographical location during the time period specified in the Schedule to this Policy, the Observed Weather Index deviates from the pre- defined threshold (Strike) Index, the benefit payable to the Insured shall be as per the Payment Formula specified in the Schedule, subject to a maximum of the Sum Insured.

  • It means the primary weather station as specified in the Schedule, the weather data of which would be utilised to compute the Observed Weather Index during the Policy Period for the purpose of claims calculation and settlement under the policy.

  • Where there is no deviation in the Observed Weather Index as per the policy terms and conditions, the Company shall not be under any obligation to provide any written communication to the insured/Beneficiary stating that no compensation is payable.


More Definitions of Observed Weather Index

Observed Weather Index means the observed value of the Weather Index based on Actual Weather Data of the cover period, which observed value will be used for determining the claims amount, during the Period of Insurance.
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Related to Observed Weather Index

  • SOFR IndexEnd means the SOFR Index value on the date that is the number of U.S. Government Securities Business Days specified in the relevant Final Terms preceding the Interest Payment Date relating to such Interest Accrual Period (or in the final Interest Accrual Period, the Maturity Date).

  • SOFR Index means, with respect to any U.S. Government Securities Business Day:

  • SOFR IndexStart means the SOFR Index value on the day which is two U.S. Government Securities Business Days preceding the first date of the relevant Interest Period (an "Index Determination Date"); and

  • SIFMA Index means the Securities Industry and Financial Markets Association Municipal Swap Index, produced by Municipal Market Data, or if such index is not published, then such other index selected by the Treasurer which reflects the yield of tax-exempt seven-day variable rate demand bonds.

  • SIFMA Municipal Swap Index means the Securities Industry and Financial Markets Association Municipal Swap Index, or such other weekly, high-grade index comprised of seven-day, tax-exempt variable rate demand notes produced by Municipal Market Data, Inc. or its successor, or as otherwise designated by the Securities Industry and Financial Markets Association; provided, however, that if such index is no longer produced by Municipal Market Data, Inc. or its successor, then SIFMA Municipal Swap Index shall mean (i) the S&P Municipal Bond 7 Day High Grade Rate Index produced by Standard & Poor’s Financial Services LLC or its successors or (ii) if the S&P Municipal Bond 7 Day High Grade Rate Index is no longer produced, such other reasonably comparable index selected in good faith by the Board of Trustees of the Fund and consented to in writing by Holders of greater than 50% of RVMTP Shares, which shall not be unreasonably withheld by such Holders.

  • Index Group means the NASDAQ Bank Index.

  • Base Index Figure means (subject to Condition 4.3(i)) the base index figure as specified in the relevant Final Terms;

  • Comparison Group means a sample group of organisations providing Comparable supply of Services which consists of organisations which are either of similar size to the Supplier or which are similarly structured in terms of their business and their service offering so as to be fair comparators with the Supplier or which, are best practice organisations;

  • Disinfectant contact time or "T in CT calculations" means the time in minutes that it takes for water to move from the point of disinfectant application or the previous point of disinfectant residual measurement to a point before or at the point where residual disinfectant concentration (C) is measured. Where only one (1) C is measured, T is the time in minutes that it takes for water to move from the point of disinfectant application to a point before or at where C is measured. Where more than one (1) C is measured, T is:

  • Base Index means the most recent Consumer Price Index published immediately prior to the Commencement Date.

  • Maximum residual disinfectant level or “MRDL” means a level of a disinfectant added for water treatment that may not be exceeded at the consumer’s tap without an unacceptable possibility of adverse health effects.

  • Dilution Volatility Component means the product (expressed as a percentage) of (i) the difference between (a) the highest three (3)-month rolling average Dilution Ratio over the past 12 Calculation Periods and (b) the Adjusted Dilution Ratio, and (ii) a fraction, the numerator of which is equal to the amount calculated in (i)(a) of this definition and the denominator of which is equal to the amount calculated in (i)(b) of this definition.

  • Loop Concentrator/Multiplexer or "LCM" is the Network Element that does one or more of the following: aggregates lower bit rate or bandwidth signals to higher bit rate or bandwidth signals (multiplexing); disaggregates higher bit rate or bandwidth signals to lower bit rate or bandwidth signals (demultiplexing); aggregates a specified number of signals or channels to fewer channels (concentrating); performs signal conversion, including encoding of signals (e.g., analog to digital and digital to analog signal conversion); or in some instances performs electrical to optical (E/O) conversion. LCM includes DLC, and D4 channel banks and may be located in Remote Terminals or Central Offices.