Physical Damage Insurance Policy definition

Physical Damage Insurance Policy means a theft and physical damage insurance policy maintained by the Obligor under a Receivable, providing coverage against loss or damage to or theft of the related Financed Vehicle.
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Physical Damage Insurance Policy means the physical damage, recovery/repatriation coverages and loss of revenue policy issued by various underwriters described thereon, a copy of which shall be on file with the Delaware Trustee at all times, and shall include any other replacement policy thereto that is substantially similar to it.
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Physical Damage Insurance Policy has the meaning set forth in Section 3.3(d).
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Examples of Physical Damage Insurance Policy in a sentence

  • The Receivable requires the Obligor to insure the Financed Vehicle under a Physical Damage Insurance Policy, pay the premiums for such insurance and keep such insurance in full force and effect.

  • It is understood that Servicer will not "force-place" any Physical Damage Insurance Policy on any Financed Vehicle.

  • If Servicer elects to commence a legal proceeding to enforce a Physical Damage Insurance Policy, the act of commencement shall be deemed to be an automatic assignment of the rights of Issuer under such Physical Damage Insurance Policy to Servicer for purposes of collection only.

  • If Servicer elects to commence a legal proceeding to enforce a Physical Damage Insurance Policy, the act of commencement shall be deemed to be an automatic assignment of the rights of the Trust under such Physical Damage Insurance Policy to Servicer for purposes of collection only.

  • No Receivable has a Principal Balance which includes capitalized interest, late charges or amounts attributable to the payment of the premium for any Physical Damage Insurance Policy.

  • Special rules apply to unaccompanied minors when they apply for asylum and in processing.44 Children and juveniles aged under 18 are regarded in the German asylum procedure as being minors.

  • If, however, in any enforcement suit or legal proceeding it is held that Servicer may not enforce a Physical Damage Insurance Policy on the grounds that it is not a real party in interest or a holder entitled to enforce the Physical Damage Insurance Policy, Trustee, on behalf of the Trust, at Servicer's expense, shall take such steps as Servicer deems necessary to enforce such Physical Damage Insurance Policy, including bringing suit in its name or the name of Trustee for the benefit of the Holders.

  • It is understood that Servicer will not “force-place” any Physical Damage Insurance Policy on any Financed Vehicle.

  • If, however, in any enforcement suit or legal proceeding it is held that Servicer may not enforce a Physical Damage Insurance Policy on the grounds that it is not a real party in interest or a holder entitled to enforce the Physical Damage Insurance Policy, Owner Trustee, on behalf of Issuer, at Servicer's expense, shall take such steps as Servicer deems necessary to enforce such Physical Damage Insurance Policy, including bringing suit in Issuer's name or the name of Owner Trustee or Indenture Trustee.

  • Servicer shall not release any Financed Vehicle from the security interest granted by the related Receivable in whole or in part, except upon payment in full of the Receivable, release of such security interest to the insurance company in connection with a total loss claim under a Physical Damage Insurance Policy or as otherwise contemplated herein.


More Definitions of Physical Damage Insurance Policy

Physical Damage Insurance Policy. Any fire, property damage or other hazard insurance policy or program maintained by any Person (including the Seller or the Obligor) with respect to any Equipment.
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Physical Damage Insurance Policy means with respect to a Financed Vehicle, any policy of physical damage, comprehensive or collision insurance covering the Financed Vehicle pursuant to which a Servicer may obtain recoveries for loss or damage to the Financed Vehicle. "Purchasing Agreement" means the Master Contract Purchase Agreement, dated as of the date hereof, by and between the Company and TFC as the purchaser, providing among other things, for the purchasing of the Contracts, as said agreement may be amended or supplemented from time to time as permitted thereby. "Record Date" for the interest and any principal payable on any Payment Date means the first day (whether or not a Business Day) of the month in which such Payment Date occurs.
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Related to Physical Damage Insurance Policy

  • D&O Liability Insurance Policies means all insurance policies (including any “tail policy”) of any of the Debtors for liability of any current or former directors, managers, officers, and members.

  • Blanket insurance policy means a group policy covering a defined class of

  • Company Insurance Policies has the meaning set forth in Section 4.15.

  • Errors and Omissions Insurance Policy means an errors and omissions insurance policy maintained by the Master Servicer, the Special Servicer, the Trustee, the Custodian or the Certificate Administrator, as the case may be, in accordance with Section 8.2, Section 9.2 and Section 7.17, respectively.

  • R&W Insurance Policy has the meaning set forth in Section 6.15.

  • Fidelity Insurance means insurance coverage with respect to employee errors, omissions, dishonesty, forgery, theft, disappearance and destruction, robbery and safe burglary, property (other than money and securities) and computer fraud in an aggregate amount acceptable to Seller’s regulators.

  • Environmental Insurance Policy means, with respect to any Mortgage Loan or the related Mortgaged Property or REO Property, any insurance policy covering pollution conditions and/or other environmental conditions that is maintained from time to time in respect of such Mortgage Loan, Mortgaged Property or REO Property, as the case may be, for the benefit of, among others, the Trustee on behalf of the Certificateholders.

  • General Liability Insurance Subcontractor shall carry minimum primary General Liability Insurance for the following amounts:

  • Liability Insurance means compulsory professional liability errors and omissions insurance required by a governing body;

  • Property Insurance is defined in Section 6.10(a).

  • Special Primary Insurance Policy Any Primary Insurance Policy covering a Mortgage Loan the premium of which is payable by the Trustee pursuant to Section 4.04(a), if so identified in the Mortgage Loan Schedule. There are no Special Primary Insurance Policies with respect to any of the Mortgage Loans.

  • Primary Insurance Policy Each policy of primary mortgage guaranty insurance or any replacement policy therefor with respect to any Mortgage Loan.

  • Mortgage Impairment Insurance Policy A mortgage impairment or blanket hazard insurance policy as described in Section 4.11.

  • Hazard Insurance Policy means, with respect to each Contract, the policy of fire and extended coverage insurance (and federal flood insurance, if the Manufactured Home is secured by an FHA/VA Contract and such Manufactured Home is located in a federally designated special flood area) required to be maintained for the related Manufactured Home, as provided in Section 5.09, and which, as provided in said Section 5.09, may be a blanket mortgage impairment policy maintained by the Servicer in accordance with the terms and conditions of said Section 5.09.

  • Certificate Insurance Policy The Financial Guaranty Insurance Policy No. CA01172A, and all endorsements thereto dated the Closing Date, issued by the Certificate Insurer for the benefit of the Class AF-3 Certificateholders.

  • Insurance Policy With respect to any Mortgage Loan included in the Trust Fund, any insurance policy, including all riders and endorsements thereto in effect, including any replacement policy or policies for any Insurance Policies.

  • Insurance Policies has the meaning set forth in Section 3.16.

  • Standard Hazard Insurance Policy means a fire and casualty extended coverage insurance policy in such amount and with such coverage as required by this Agreement.

  • Blanket travel insurance means a policy of travel insurance issued to any eligible group providing coverage for specific classes of persons defined in the policy with coverage provided to all members of the eligible group without a separate charge to individual members of the eligible group.

  • Life Insurance Policy has the meaning given in Section 6.11.

  • First party insurance means an insurance policy or contract in which the insurer

  • Environmental Damage means any material injury or damage to persons, living organisms or property or any material pollution or impairment of the environment resulting from the discharge, emission, escape or migration of any substance, energy, noise or vibration;

  • Substantial bodily injury means "bodily injury which involves (A) a temporary but substantial disfigurement; or (B) a temporary but substantial loss or impairment of the function of any bodily member, organ, or mental faculty." See 18 U.S.C. § 113(b)(1).

  • Professional liability insurance means insurance against legal liability incident to the practice of a profession and provision of a professional service.

  • Primary Mortgage Insurance Policy Any primary mortgage guaranty insurance policy issued in connection with a Mortgage Loan which provides compensation to a Mortgage Note holder in the event of default by the obligor under such Mortgage Note or the related Security Instrument, if any or any replacement policy therefor through the related Interest Accrual Period for such Class relating to a Distribution Date.

  • Legal Liability means responsibility which courts recognize and enforce between persons who sue one another.