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 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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Examples of Own FAL in a sentence

  • If the Funds at Lloyd's in respect of any Account Party constitute of Funds at Lloyd's from a source other than such Account Party's Own FAL or a Letter of Credit issued under this Agreement, the Borrower shall deliver the relevant FAL Providers' Deed to the Administrative Agent as promptly as practicable and in any event within 30 days thereafter (or such later date as may be agreed by the Required Lenders).

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

  • The Borrower shall use all reasonable endeavours to ensure that the Own FAL at Lloyd’s of the Account Party are applied to the fullest extent possible before any payment is made under a Letter of Credit in respect the Account Party (including, without limitation, using all reasonable endeavours to obtain a Letter of Comfort with respect to the order of application of Funds at Lloyd’s).

  • The Borrower shall use all reasonable endeavours to ensure that the Own FAL at Lloyd's of the Account Party are applied to the fullest extent possible before any payment is made under a Letter of Credit in respect the Account Party (including, without limitation, using all reasonable endeavours to obtain a Letter of Comfort with respect to the order of application of Funds at Lloyd's).

  • 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.

  • The Borrower shall not permit the Own FAL of the Corporate Member to be less than (i) on the Amendment No. 1 Effective Date, 30% of Total FAL, (ii) on the Amendment No. 2 Effective Date, 50% of Total FAL, and (iii) thereafter, the applicable requirements of Lloyd's from time to time.

  • The Original Borrower shall, as soon as reasonably practicable but in any event within 5 Business Days from the date on which it becomes available, deliver to the Agent a copy of the next monthly valuation report produced by Lloyd’s following the date of the Amendment Agreement, evidencing that the value of the Own FAL of the Account Party is no less than $300,000,000.

  • The Original Borrower shall, as soon as reasonably practicable but in any event within 5 Business Days from the date on which it becomes available, deliver to the Agent a copy of the next monthly valuation report produced by Lloyd's following the date of the Amendment Agreement, evidencing that the value of the Own FAL of the Account Party is no less than $300,000,000.

  • The Borrowers shall use all reasonable endeavours to ensure that the Own FAL at Lloyd’s of the Account Party are applied to the fullest extent possible before any payment is made under a Letter of Credit in respect of the Account Party (including, without limitation, using all reasonable endeavours to obtain a Letter of Comfort with respect to the order of application of Funds at Lloyd’s).

  • From and after the Completion Date, the Borrower shall not permit the Own FAL of the Corporate Member to be less than (i) on the Completion Date, 10% of Total FAL, and (ii) thereafter, the applicable requirements of Lloyd's from time to time.


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 Lloyd's from time to time (which shall be valued by Lloyd's in accordance with its usual practice).
Sample 1
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;
Sample 1
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;
Sample 1

Related to Own FAL

  • Applicable Canadian Securities Laws means, collectively, and as the context may require, the applicable securities legislation of each of the provinces and territories of Canada, and the rules, regulations, instruments, orders and policies published and/or promulgated thereunder, as such may be amended from time to time prior to the Effective 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 the Collateral Loans as of such date is less than or equal to seven (7.0) 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 proceeds to be paid by the Purchaser in connection with a Draw Down.

  • Applicable Pricing Grid means the table set forth on Schedule 1.1C.

  • 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 date of determination if the Weighted Average Spread of all Eligible Collateral Obligations included in the Collateral on such date is equal to or greater than 5.00%.

  • Actual Sold Forward Amount means, for any Forward Hedge Selling Period for any Forward, the number of Forward Hedge Securities that the Forward Seller has sold during such Forward Hedge Selling Period.

  • 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 7.0%.

  • 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.

  • 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.

  • 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).

  • Credit Available for Virtual Transactions means the Market Participant’s Working Credit Limit for Virtual Transactions calculated on its credit provided in compliance with its Peak Market Activity requirement plus available credit submitted above that amount, less any unpaid billed and unbilled amounts owed to PJMSettlement, plus any unpaid unbilled amounts owed by PJMSettlement to the Market Participant, less any applicable credit required for Minimum Participation Requirements, FTRs, RPM activity, or other credit requirement determinants as defined in Tariff, Attachment Q.

  • Minimum Takedown Threshold shall have the meaning given in Section 2.1.4.

  • Maximum mass means the maximum mass stated by the vehicle manufacturer to be technically permissible (this mass may be higher than the "permissible maximum mass" laid down by the national administration).

  • Maximum Incremental Facilities Amount means, at any date of determination, (a) the sum of (i) $500,000,000, plus (ii) an amount such that the Borrower is in Pro Forma Compliance with the Senior Secured Leverage Test (for the avoidance of doubt without netting any cash from the proceeds of any Indebtedness being incurred in reliance on such test and, if applicable, assuming the full amount of any New Revolving Credit Commitments are drawn), plus (iii) amounts used to incur Indebtedness the Net Cash Proceeds of which are substantially concurrently used to refinance or replace Revolving Credit Commitments and/or Term Loans (including any fees, accrued interest or other amounts owing in respect thereof), plus (iv) from and after the 2012 Extension Effective Date, the aggregate principal amount of 2014 Term Loans outstanding as of such date of determination, provided that such additional amounts pursuant to this clause (iv) are only available to the extent such amounts are used to incur Indebtedness the Net Cash Proceeds of which are substantially concurrently used to prepay 2014 Term Loans in accordance with Section 5.1 of this Agreement (such prepaid 2014 Term Loans, “Incremental Facility Prepaid 2014 Term Loans”) plus (v) the Dollar Equivalent principal amount of Term Loans (other than New Term Loans, Incremental Facility Prepaid 2014 Term Loans or Term Loans refinanced or replaced pursuant to clause (iii) above) voluntarily prepaid pursuant to Section 5.1 prior to such date, plus (vi) the amount of all Revolving Credit Commitments that have either been permanently reduced pursuant to Section 4.2 or have otherwise terminated in accordance with the terms of this Agreement after the 2012 Extension Effective Date (without duplication of the amounts incurred pursuant to clause (iii) above) minus (b) the sum of (i) the aggregate principal amount of New Loan Commitments incurred pursuant to Section 2.14(a) prior to such date and (ii) the aggregate principal amount of Permitted Other Indebtedness issued or incurred pursuant to Section 10.1(bb)(i)(a) prior to such date.