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 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 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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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.


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 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
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;
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

Related to Own FAL

  • 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.

  • Applicable Pricing Grid the table set forth below: Availability Applicable Margin for ABR Loans Applicable Margin for Eurodollar Loans > 66% 0.50% 1.50% £ 66% but > 33% 0.75% 1.75% £ 33% 1.00% 2.00% For the purposes of the Applicable Pricing Grid, changes in the Applicable Margin resulting from changes in the average daily Availability shall become effective on the first day of the calendar month (the “Adjustment Date”) that begins on or after the date on which the last Borrowing Base Certificate in respect of a period ending on (or immediately prior to) the last day of the most recently ended fiscal quarter (a “Quarter-End Certificate”) is delivered to the Lenders pursuant to Section 6.2(g) and shall remain in effect until the next change to be effected pursuant to this paragraph. If, as of any date that a Quarter-End Certificate is scheduled to be delivered pursuant to Section 6.2(g), any Borrowing Base Certificate required to be delivered on or prior to such date shall not have been delivered, then, until the first day of the calendar month that begins on or after the date on which all required Borrowing Base Certificates are delivered, the highest rate set forth in each column of the Applicable Pricing Grid shall apply. In addition, during the occurrence and continuance of an Event of Default, the Administrative Agent or the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Administrative Agent or the Required Lenders, as applicable, notwithstanding any provision of Section 10.1 requiring the consent of “each Lender directly affected thereby” for reductions in interest rates), declare that the highest rate set forth in each column of the Applicable Pricing Grid shall apply.

  • 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%.

  • 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.

  • Minimum Weighted Average Coupon Test means a test that will be satisfied on any date of determination if the Weighted Average Coupon equals or exceeds 8.0%.

  • 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:

  • 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.

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

  • Risk Weighted Assets means, at any date, the aggregate amount, expressed in pounds sterling, of the risk weighted assets of the Group as at such date, as calculated by LBG on a consolidated and fully loaded basis in accordance with the Applicable Regulations applicable to the Group on such date (which calculation shall be binding on the Trustee and the holders and beneficial owners of the Additional Tier 1 Securities) and where the term “risk weighted assets” means the risk weighted assets or total risk exposure amount, as calculated by LBG in accordance with the Applicable Regulations applicable to the Group as at such date.