Payable Loss definition

Payable Loss means the difference between the Net Payoff and the amount of the Primary Insurance Settlement, plus the amount of the Customer’s physical damage deductible for the Covered Vehicle. However, if the amount of the Customer’s physical damage deductible for the Covered Vehicle exceeds the deductible coverage limit, the amount of the physical damage deductible for the Covered Vehicle that is in excess of the deductible coverage limit shall not be included in the definition of Payable Loss. Payable Loss shall not include any damage due to: wear and tear, freezing, mechanical or electrical breakdown or failure, or road damage to tires. However and notwithstanding the foregoing, in the event that there is not a Primary Carrier in effect on the Date of Loss, or there is a Primary Carrier in effect on the Date of Loss but is declared insolvent, Payable Loss means the difference between the Net Payoff as of the Date of Loss and a retail value from a national or regional guide for the territory in which the Covered Vehicle is principally garaged as determined by the GAP Administrator. Payable Loss includes the amount of your physical damage deductible on the Primary Carrier’s policy up to $1,000.00.
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Payable Loss has the meaning defined in Section 6.4.1.
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Payable Loss is defined in Section 11.4.
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Examples of Payable Loss in a sentence

  • Not withstanding the Payable Loss and the Maximum Payable Loss, no coverage is provided for that portion of the Net Payoff resulting from any amount financed in excess of the Maximum Vehicle Financing Percentage.

  • Customer/Borrower Signature Date Dealer/Creditor Signature DateAll Payable Loss claims must be reported to Our GAP Administrator within ninety (90) days of receiving settlement from the Primary Carrier; or if no Primary Carrier coverage is in effect on the Date of Loss, within ninety (90) days of the accident or theft.

  • Advertisements of Benefits Payable, Loss- es Covered or Premiums Payable.

  • The Customer/Borrower should carefully read this entire GAP Addendum contract for additional information on eligibility, requirements, conditions and exclusions that could prevent them from receiving the waiver of debt hereunder.In the event of a Constructive Total Loss to the Covered Vehicle, We agree to waive Our rights against the Customer/Borrower for the amount due under a Payable Loss.

  • In addition to the provisions of a Payable Loss, the Customer/Borrower will remain responsible for payment of any items stated under the EXCLUSIONS section below.REPORT A TOTAL LOSS TO OUR GAP ADMINISTRATOR:AMT Warranty Corp.P.O. Box 927 Bedford, TX 76095 (877) 265-1166 By checking this box and signing below, the Customer/Borrower hereby accepts this GAP Addendum contract; including all of its terms and conditions.

  • Payable Loss will not be considered if the claim is not reported within these stated time periods.RIGHT TO CANCELThe Customer/Borrower has the unconditional right to cancel this GAP Addendum for a refund/credit of any unearned portion of the purchase price at any time.

  • If an employee while insured for Extra Accident Insurance sustains accidental bodily injuries which result in death within one year, or loss of hand, foot or sight of eye, within two years, of such injuries, benefits will be paid as specified in the schedule herein: Loss Amount Payable Loss of one hand by severance at or above wrist joint, or one foot by severance at or above ankle joint, or loss of use of one hand or one foot, or total and irrecoverable loss of sight of one eye.

  • Thus, the project’s benefits primarily stem from the expected growth in airport passengers and cargo.

  • Insured Events Percentage of Benefit Payable Loss of Teeth or full capping of Teeth 100%Partial capping of Teeth 50% Compensation We will pay the Percentage of Benefit Payable stated for the Insured Event, of the amount shown in the Policy Schedule against “Loss of Teeth or Dental Procedures”.

  • If an employee while insured for Extra Accident Insurance sustains accidental bodily injuries which result in death within one year, or loss of hand, foot or sight of eye, within two years, of such injuries, benefits will be paid as specified in the schedule below: Loss Amount Payable Loss of one hand by One-half the amount of severance at or above Extra Accident Insurance wrist joint or one foot then in force (Article II, by severance at or above Section 1).


More Definitions of Payable Loss

Payable Loss. (x) with respect to Losses suffered by a Buyer Indemnified Party, Sellers shall satisfy their obligations in accordance with Section 2.4 and Section 2.5 and (y) with respect to Losses suffered by a Seller Indemnified Party, the Buyer Parties shall satisfy their obligations by wire transfer of immediately available funds to an account designated in writing by the Seller Indemnified Party.
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Payable Loss has the meaning given such term in the Purchase Agreement. “Permitted Debt” is defined in Section 5(c).
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Payable Loss means that which is equal to the difference between the NET PAYOFF and the greater of Primary Insurance Settlement or ACV of the covered COLLATERAL on the DATE OF LOSS not to exceed the maximum liability of $2,500.00. PAYABLE LOSS includes the amount of the BORROWER’S physical damage deductible on the PRIMARY CARRIER’S policy. If the Primary Insurance Settlement or ACV for COLLATERAL is greater than or equal to the NET PAYOFF, no payment will be made under this Addendum. SELLER/LENDER means the dealership stated on the front of this Addendum. NET PAYOFF means the amount of the SELLER/LENDER/FINANCIAL INSTITUTION interest as of the DATE OF LOSS, as represented by the portion of the BORROWER’S unpaid balance according to the original payment schedule of the FINANCING CONTRACT that is secured by COLLATERAL. The NET PAYOFF will not include any DELINQUENT PAYMENTS, unearned interest and finance charges, or any unearned insurance premiums (including but not limited to credit, life, and service contracts).
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Payable Loss means any GAP Benefit and Vehicle Loyalty Discount Benefit that you become obligated to cancel, waive or provide under each Designated Contract issued by you during the policy period shown on the Declarations Page.
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Related to Payable Loss

  • Tax Loss means the taxable income or tax loss of the Trust, determined in accordance with Section 703(a) of the Code, for each Fiscal Year as determined for federal income tax purposes, together with each of the Trust's items of income, gain, loss or deduction which is separately stated or otherwise not included in computing taxable income and tax loss.

  • Intrinsic Loss Estimate means total losses under the shared loss agreements in the amount of One hundred Sixty-eight million dollars ($168,000,000.00).

  • SF1-4 Intrinsic Loss Estimate means total losses under this Single Family Shared-Loss Agreement in the amount of eighteen million dollars ($18,000,000.00).

  • Cram Down Loss means, with respect to any Receivable (other than a Defaulted Receivable) as to which any court in any bankruptcy, insolvency or other similar proceeding issues an order reducing the principal amount to be paid on such Receivable or otherwise modifies any payment terms with respect thereto, an amount equal to the greater of (i) the amount of the principal reduction ordered by such court and (ii) the difference between the Principal Balance of such Receivable at the time of such court order and the net present value (using a discount rate which is the higher of the Contract Rate of such Receivable or the rate of interest specified by such court order) of the remaining scheduled payments to be paid on such Receivable as modified or restructured. A “Cram Down Loss” will be deemed to have occurred on the date of issuance of such court’s order.

  • Total Intrinsic Loss Estimate means the sum of the SF1-4 Intrinsic Loss Estimate in the Single Family Shared-Loss Agreement, and the Commercial Intrinsic Loss Estimate in the Commercial Shared-Loss Agreement, expressed in dollars.

  • Direct Loss means charges actually paid pursuant to this Agreement in respect of the period of the Delay. For the purposes of clause 13.4, the User's losses arising out of a Delay will be taken to include the amount of the relevant Direct Losses.

  • Indemnifiable Loss means, with respect to any Person, any action, claim, cost, damage, deficiency, diminution in value, disbursement, expense, liability, loss, obligation, penalty, settlement, suit, or tax of any kind or nature, together with all interest, penalties, legal, accounting and other professional fees and expenses reasonably incurred in the investigation, collection, prosecution and defense of claims and amounts paid in settlement, that may be imposed on or otherwise incurred or suffered by such Person, whether directly or indirectly.

  • Tax Liability means the total taxes due to a municipal corporation for the taxable year, after allowing any credit to which the taxpayer is entitled, and after applying any estimated tax payment, withholding payment, or credit from another taxable year.

  • Operating Loss means a negative Operating Profit.

  • PRE-2017 NET OPERATING LOSS CARRYFORWARD means any net operating loss incurred in a taxable year beginning before January 1, 2017, to the extent such loss was permitted, by a resolution or ordinance of the Municipality that was adopted by the Municipality before January 1, 2016, to be carried forward and utilized to offset income or net profit generated in such Municipality in future taxable years.(B) For the purpose of calculating municipal taxable income, any pre-2017 net operating loss carryforward may be carried forward to any taxable year, including taxable years beginning in 2017 or thereafter, for the number of taxable years provided in the resolution or ordinance or until fully utilized, whichever is earlier.

  • Economic loss means any of the following types of pecuniary harm:

  • Foreclosure Loss means the loss realized when the Assuming Institution has completed the foreclosure on a Single Family Shared-Loss Loan and realized final recovery on the collateral through liquidation and recovery of all insurance proceeds. Each Foreclosure Loss shall be calculated in accordance with the form and methodology specified in Exhibits 2c(1)-(3).

  • Excess Loss The amount of any (i) Fraud Loss realized after the Fraud Loss Coverage Termination Date, (ii) Special Hazard Loss realized after the Special Hazard Coverage Termination Date or (iii) Bankruptcy Loss realized after the Bankruptcy Coverage Termination Date.

  • Data Loss Event means any event that results, or may result, in unauthorised access to Personal Data held by the Contractor under this Agreement, and/or actual or potential loss and/or destruction of Personal Data in breach of this Agreement, including any Personal Data Breach.

  • Recovery Quarter has the meaning provided in Section 2.1(a)(ii) of this Commercial Shared-Loss Agreement.

  • Total Loss Proceeds means the proceeds of any insurance or any compensation or similar payment arising in respect of a Total Loss.

  • Material Loss means an uninsured:

  • Total After-Tax Payments means the total of all “parachute payments” (as that term is defined in Section 280G(b)(2) of the Code) made to or for the benefit of the Executive (whether made hereunder or otherwise), after reduction for all applicable federal taxes (including, without limitation, the tax described in Section 4999 of the Code).

  • Residual Loss means any item of gain or loss, as the case may be, of the Partnership recognized for federal income tax purposes resulting from a sale, exchange or other disposition of a Contributed Property or Adjusted Property, to the extent such item of gain or loss is not allocated pursuant to Section 6.2(b)(i)(A) or 6.2(b)(ii)(A), respectively, to eliminate Book-Tax Disparities.

  • Loss Adjustment Expense means costs and expenses incurred by the Company in connection with the investigation, appraisal, adjustment, settlement, litigation, defense or appeal of a specific claim or loss, or alleged loss, including but not limited to:

  • Aggregate Loss Severity Percentage With respect to any Distribution Date, the percentage equivalent of a fraction, the numerator of which is the aggregate amount of Realized Losses incurred on any Mortgage Loans from the Cut-off Date to the last day of the preceding calendar month and the denominator of which is the aggregate principal balance of such Mortgage Loans immediately prior to the liquidation of such Mortgage Loans.

  • Assumed Tax Liability means, with respect to any Member, an amount equal to the excess of (i) the product of (A) the Distribution Tax Rate multiplied by (B) the estimated or actual cumulative taxable income or gain of the Company, as determined for federal income tax purposes, allocated to such Member (or its predecessor) for full or partial Fiscal Years commencing on or after January 1, 2021, less prior losses of the Company allocated to such Member (or its predecessor) for full or partial Fiscal Years commencing on or after January 1, 2021, in each case, as determined by the Manager and to the extent such prior losses are available to reduce such income over (ii) the cumulative Tax Distributions made to such Member after the closing date of the IPO pursuant to Sections 4.01(b)(i), 4.01(b)(ii) and 4.01(b)(iii) and, if applicable with respect to such Fiscal Year, pursuant to Section 4.1(a) of the Previous LLC Agreement; provided that, in the case of the Corporation, such Assumed Tax Liability (x) shall be computed without regard to any increases to the tax basis of the Company’s property pursuant to Sections 734(b) or 743(b) of the Code and (y) to the extent permitted under the Credit Agreements and applicable Law, shall in no event be less than an amount that will enable the Corporation to meet both its tax obligations and its obligations pursuant to the Tax Receivable Agreement for the relevant Taxable Year; provided further that, in the case of each Member, and for the avoidance of doubt, such Assumed Tax Liability shall take into account any Code Section 704(c) allocations (including “reverse” 704(c) allocations) to the Member.

  • Net After-Tax Benefit means the Present Value of a Payment net of all federal state and local income, employment and excise taxes imposed on Executive with respect thereto, determined by applying the highest marginal rate(s) applicable to an individual for Executive’s taxable year in which the Change in Control occurs.

  • Net salvage value means the salvage value of property retired less the cost of removal.