Policy Costs definition

Policy Costs means repayment of draws under the Reserve Fund Insurance Policy, if any, plus all related reasonable expenses incurred by the Surety Provider, plus accrued interest thereon.

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Policy Costs means, collectively, the repayment of draws, reasonable expenses and interest related to a Reserve Account Insurance Policy and/or Reserve Account Letter of Credit.

Policy Costs means repayment of all amounts due under the Reserve Policy and all amounts due with respect to any Additional Reserve Policy resulting from a failure by the District to pay the principal of and interest on the Bonds when due.

Examples of Policy Costs in a sentence

• Except as otherwise stated, this Agreement shall not grant or be construed as granting any rights by license or otherwise to the other Parties in or to another Party’s Background IP.

• Repayment of draws and payment of expenses and accrued interest thereon at the Late Payment Rate (collectively, the “Policy Costs”) shall commence in the first month following each draw, and each such monthly payment shall be in an amount at least equal to 1/12 of the aggregate of Policy Costs related to such draw.

• Parent may notify the MLP in writing of any Retained Policy Cost incurred by Parent, which shall be allocated in accordance with Parent’s past practices for allocating such costs between Parent and the MLP prior to the date of this Agreement, and the MLP shall, within three (3) Business Days following receipt of such notice, reimburse Parent for such Retained Policy Costs.

• In addition, all Policy Costs (as defined in the Authority Indenture), to the extent such amounts are owed as result of a draw under the Reserve Account for the Bonds, resulting from a default on the Bonds, are payable from and secured by a lien on and pledge of the Special Taxes subordinate only to the payment of debt service on the Bonds and Insurer Reimbursement Amounts.

• In addition, all Policy Costs (as defined in the Authority Indenture), to the extent such amounts are owed as result of a draw under the Reserve Account for the 2021 Bonds, resulting from a default on the 2021 Bonds, are payable from and secured by a lien on and pledge of the Special Taxes subordinate only to the payment of debt service on the 2021 Bonds and Insurer Reimbursement Amounts.

More Definitions of Policy Costs

Policy Costs has the meaning set forth in Section 5.2(c), Subparagraph A hereof.

Policy Costs means costs owed to the Reserve Insurer and representing the repayment of draws and Administrative Costs, and accrued interest thereon, at the Late Payment Rate.

Policy Costs means Costs, Charges and Expenses, Inquiry Costs, Facilitation Costs, Personal Asset Costs, Personal Reputation Costs, Mitigation Costs or Access to Policy Costs, but shall not include salaries, wages, overhead or benefit expenses associated with directors, officers or employees of the Company.

Policy Costs means the annual amount due with respect to any policy or surety bond in lieu of depositing cash in any reserve fund established for any Bonds or Contracts.

Policy Costs means draws, expenses and accrued interest under a Reserve Policy.

Policy Costs under the Policy means (i) a sum equal to the total of all amounts paid by the Insurer under the Policy resulting from the Guarantor's failure to pay its Pro Rata Share, as may be recalculated pursuant to Section 2 below, to replenish the Series 2022A Debt Service Reserve Account; and (ii) interest on such Policy payments from the date paid by the Insurer until payment thereof in full by the County payable to the Insurer at the Late Payment Rate.

Policy Costs means repayment of draws under the Reserve Fund Insurance Policy, plus all related reasonable expenses incurred by the Surety Provider or any similar costs related to a reserve fund insurance policy for Parity Bonds.