Own FAL definition

Own FAL means, in relation to the Account Party, such part of its Funds at Lloyd’s as is provided by the Account Party or any other member of the Group by way of Cash and/or investments and/or covenant and charge or otherwise as permitted by Lloyd’s from time to time (which shall be valued by Lloyd’s in accordance with Lloyd’s usual practice).
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Own FAL means, in relation to any Chaucer Name, such part of its Funds at Lloyd’s as is provided by the Account Party or by that Chaucer Name by way of cash and/or investments and/or covenant and charge or otherwise as permitted by Lloyd’s from time, to time excluding the Reinsurance FAL;
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Own FAL means such part of the CC2/Flectat FAL as is provided from time to time by or for CC2 or Flectat, either from its own assets by way of cash and/or investments, by another member of the Canopius Group by way of a third party deposit of cash and/or investments or by way of letters of credit or bank guarantees (other than (i) any letters of credit or bank guarantees which may from time to time constitute all or part of the [CBL] FAL and (ii) any cash, investments, letters of credit or bank guarantees which may from time to time constitute all or part of the OSIL FAL), the other members of the Canopius Group which provide [at the date of this Deed] part of the CC2/Flectat FAL (not including the [CBL] FAL or the OSIL FAL) being those referred to in recital (N); Parties: the parties to this Deed; Paying FAL Provider: in relation to an Incorrect Drawdown, a FAL Provider whose FAL would have been drawn down (in whole or in part) if that Drawdown had been effected in the Correct Manner;
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Examples of Own FAL in a sentence

  • The Borrower shall use its commercially reasonable efforts to, and procure that the Account Parties shall, ensure that all relevant Funds at Lloyd's of the Account Parties (including Own FAL but excluding Letters of Credit) (collectively, "Subordinated Funds at Lloyd's") are applied before any Letter of Credit issued to support the Subject Business of any Account Party is drawn.2.03 Letters of Credit.(a) L/C Credit Extension Conditions.


More Definitions of Own FAL

Own FAL means in relation to any Account Party, such part of its Funds at Lloyd's (if any) as is provided by such Account Party or any of its Affiliates by way of cash and/or investments and/or covenant and charge or otherwise as permitted by Xxxxx'x from time to time (which shall be valued by Xxxxx'x in accordance with its usual practice).
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Own FAL means, in relation to an Applicant such part of its Funds at Lloyds as is provided or otherwise supported by that Applicant or any other member of the Group by way of cash and/or investments and/or covenant and charge or otherwise as permitted by Lloyd’s from time to time (which shall be valued by Lloyd’s in accordance with Lloyd’s usual practice) including, but not limited to, any FIS;
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Own FAL means, in relation to Chaucer No. 2, such part of its Funds at Lloyd’s as is provided by the Account Party or by Chaucer No. 2 by way of cash and/or investments and/or covenant and charge or otherwise as permitted by Lloyd’s from time, to time excluding the Reinsurance FAL;
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Own FAL means in relation to any Account Party, such part of its Funds at Lloyd's (if any) as is provided by such Account Party or any of its Affiliates by way of cash and/or investments and/or covenant and charge or otherwise as permitted by Lloyd's from time to time (which shall be valued by Lloyd's in accordance with its usual practice).
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Related to Own FAL

  • Tranche Write-down Amount With respect to each Payment Date, the excess, if any, of the Principal Loss Amount for such Payment Date over the Principal Recovery Amount for such Payment Date. With respect to each Payment Date, the Class Notional Amount for the Class A-H Reference Tranche will be increased by the excess, if any, of the Tranche Write-down Amount for such Payment Date over the Credit Event Amount for such Payment Date.

  • Writedown Amount The reduction described in Section 5.03(c).

  • Maximum Weighted Average Life Test means a test that will be satisfied on any date of determination if the Weighted Average Life of all Eligible Collateral Obligations included in the Collateral is less than or equal to 5.50 years.

  • Step-Down Amount means, with respect to any Distribution Date, the excess, if any, of (x) the Required Pro Forma Note Balance over (y) the Pro Forma Note Balance on such Distribution Date, calculated for this purpose only without deduction for any Step-Down Amount (i.e., assuming that the entire amount described in clause (x) of the definition of “Principal Distributable Amount” is distributed as principal on the Notes); provided, however, that the Step-Down Amount in no event may exceed the amount that would reduce the positive difference, if any, of (i) the Pool Balance minus (ii) the Pro Forma Note Balance, to an amount less than 0.50% of the initial aggregate principal balance of the Receivables.

  • Draw Down Amount means the actual amount of a Draw Down paid to the Company.

  • Applicable Pricing Grid the pricing grid set forth below: Consolidated Leverage Ratio Applicable Margin for Eurodollar Loans Applicable Margin for ABR Loans Greater than or equal to 3.0 to 1.0 2.00% 1.00% Less than 3.0 to 1.0 1.75% 0.75% For the purposes of the Applicable Pricing Grid, the Consolidated Leverage Ratio shall be calculated as of the last day of each fiscal quarter and changes in the Applicable Margin resulting from changes in the Consolidated Leverage Ratio shall become effective on the date (the “Adjustment Date”) that is three Business Days after the date on which financial statements are delivered to the Lenders pursuant to Section 6.1 with respect to such fiscal quarter (or the fiscal year ending with such fiscal quarter, as applicable) and shall remain in effect until the next change to be effected pursuant to this paragraph. If any financial statements referred to above are not delivered within the time periods specified in Section 6.1, then, until the date that is three Business Days after the date on which such financial statements are delivered, the highest rate set forth in each column of the Applicable Pricing Grid shall apply. In addition, at all times while an Event of Default shall have occurred and be continuing, the highest rate set forth in each column of the Applicable Pricing Grid shall apply.

  • Class D Coverage Tests means the Class D Interest Coverage Test and the Class D Par Value Test.

  • Write-Down Amount means, for any Collection Period for any 180-day Receivable or Repossessed Receivable, the excess of (a) the Principal Balance plus accrued and unpaid interest of such Receivable as of the last day of the Collection Period during which such Receivable became a 180-day Receivable or Repossessed Receivable, as the case may be, over (b) the estimated realizable value of such Receivable, as determined by the Servicer in accordance with its normal servicing procedures for the related Collection Period, which amount may be adjusted to zero by the Servicer in accordance with its normal servicing procedures if such Receivable has ceased to be a 180-day Receivable as provided in the definition of “180-day Receivable.”

  • Minimum Weighted Average Spread Test means a test that will be satisfied on any day if the Weighted Average Spread of all Eligible Collateral Obligations included in the Collateral on such day is equal to or greater than 5.5%

  • Maximum Loan Amount has the meaning set forth in Section 2.1(a).

  • Preliminary Tranche Write-up Amount means, for a Payment Date, an amount equal to the Tranche Write-up Amount computed using the Preliminary Principal Loss Amount instead of the Principal Loss Amount.

  • Maximum Trade Price means the highest Spot Price of the Units (subject to any adjustment to such Spot Price as may be necessary to reflect any event as contemplated in Product Condition 3 such as capitalisation, rights issue, distribution or the like) during the MCE Valuation Period;

  • Minimum Weighted Average Coupon Test means a test that will be satisfied on any Measurement Date if the Weighted Average Coupon equals or exceeds 5.0%.

  • Weighted Average SOFR means the arithmetic mean of SOFR in effect for each Business Day during the relevant Interest Period, calculated by multiplying the relevant SOFR by the number of calendar days such SOFR is in effect, determining the sum of such products and dividing such sum by the number of calendar days in the relevant Interest Period, provided however that during a Suspension Period, the SOFR for each day during that Suspension Period will be the value for the Business Day immediately prior to the first day of such Suspension Period. For purposes of this provision “Suspension Period” is the number of Business Days prior to the end of the relevant Interest Period as specified in the applicable pricing supplement.

  • Preliminary Principal Loss Amount means, for a Payment Date, an amount equal to the Principal Loss Amount computed without giving effect to clause (d) of the definition of Principal Loss Amount.

  • Maximum Amount means the Maximum Amount as specified in § 1 of the Product and Underlying Data.

  • Maximum Facility Output means the maximum (not nominal) net electrical power output in megawatts, specified in the Interconnection Service Agreement, after supply of any parasitic or host facility loads, that a Generation Interconnection Customer’s Customer Facility is expected to produce, provided that the specified Maximum Facility Output shall not exceed the output of the proposed Customer Facility that Transmission Provider utilized in the System Impact Study. Maximum State of Charge:

  • Subordinate Certificate Writedown Amount As to any Distribution Date, the amount by which (i) the sum of the Class Principal Amounts of all the Certificates (after giving effect to the distribution of principal and the application of Realized Losses in reduction of the Certificate Principal Amounts of the Certificates on such Distribution Date) exceeds (ii) the aggregate Scheduled Principal Balance of the Mortgage Loans for such Distribution Date.

  • Silicone-based Multi-purpose Lubricant means any lubricant which is:

  • Programme Maximum Number of ETP Securities means 1,000,000,000.

  • Initial Price or “Initial Offer” means the price per Unit on the first day of the Initial Period determined by the Management Company.

  • Applicable ABR Margin means, at any date:

  • Applicable L/C Margin means the per annum fee, from time to time in effect, payable with respect to outstanding Letter of Credit Obligations as determined by reference to Section 1.5(a).

  • FILOT Act Minimum Investment Requirement means, with respect to the Project, an investment of at least $2,500,000 by the Company, or of at least $5,000,000 by the Company and any Sponsor Affiliates in the aggregate, in Economic Development Property.

  • Risk Weighted Assets means the risk weighted assets or total risk exposure amount, as calculated by the Company in accordance with the Capital Regulations applicable to the Regulatory Group as at that point in time.