Pro Forma Policy definition

Pro Forma Policy has the meaning set forth in Section 3 in Exhibit C-1 attached hereto.
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Pro Forma Policy means a sample of an owner’s or loan policy prepared prior to issuance of the policy, with completed schedules A and B and endorsements, identifying the proposed insured, the exceptions that are proposed to be placed in the final policy to be issued, and the name of the title insurer and title insurance agency, including samples of endorsements.
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Pro Forma Policy means that certain ProForma Owner’s Policy of Title Insurance – Version 9, dated July 21, 2015, and prepared by the Title Company.
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Examples of Pro Forma Policy in a sentence

  • This is a Pro Forma Policy furnished to or on behalf of the party proposed to be insured for discussion only.

  • The Pro Forma Policy must be subject to a Deductible equal to the indemnity limits, or Sum Insured, of the covers provided.

  • A re-inspection is carried out if a person has had their certification suspended or revoked and has applied for reinstatement, or if a person during a routine inspection or complaint inspection has numerous noncompliance issues.

  • An owner’s extended coverage ALTA title policy, issued by Title Company in the amount of the Consideration, showing title vested in Buyer consistent in all material respects with the Pro Forma Policy delivered to Buyer by the Title Company prior to the Approval Date, as provided in and subject to the terms of Section 4.

  • It shall be a condition to Buyer’s obligation to close the Escrow that the Title Company be irrevocably committed to issue to Buyer as of the Closing its Title Policy consistent in all material respects with the Pro Forma Policy issued to Buyer by the Title Company as of the Approval Date, subject to New Exceptions approved by Buyer.

  • For the avoidance of doubt, and without limiting the foregoing, if as of the delivery of the Approval Notice Buyer is negotiating with the Title Company as to the terms, coverage or endorsements to the Pro Forma Policy, or has not obtained a Pro Forma Policy, it shall not be a condition to Buyer’s obligation to close Escrow that the Title Company agree to such requests by Buyer or provide the coverage or assurances sought by Buyer.

  • DTE’s receipt of any such new Title Commitments and supporting title documents (and updated Preliminary Pro Forma Policy, as applicable) to provide Developer with an updated Title Objection Notice and/or Pro Forma Objection Notice covering such parcels.

  • Always applicable Include a title report (always) and Owner’s Pro Forma Policy (if applicable) In cases where there is a transfer of assistance, title work must be provided for both the Converting Project and the Covered Project.

  • The Pro Forma Policy must cover the risk of fire loss or damage to the insured property;iii.

  • The Pro Forma Policy must show the type of policy, the name of the insured which is “MISSOURI HOUSING DEVELOPMENT COMMISSION, its successors and/or assigns as their interests may appear”, the amount of the insurance coverage which is the amount of the MHDC mortgage, the type of estate being insured and the owner of that estate, the legal description of the property being insured which legal description must exactly match the legal description shown on the survey, and the proposed date of the policy.


More Definitions of Pro Forma Policy

Pro Forma Policy means that certain pro forma ALTA Owner’s Policy of Title Insurance issued by the Title Company (Policy Number: NCS-
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Pro Forma Policy means that certain ProForma Owner’s Policy of Title Insurance - Version 9, dated July 21, 2015, and prepared by the Title Company.
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Pro Forma Policy means the pro forma title policy set forth in Exhibit I attached hereto and made a part hereof.
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Pro Forma Policy means that certain pro forma ALTA Owner’s Policy of Title Insurance issued by the Title Company (Policy Number: NCS-452861-BOS1) and including the endorsements attached thereto, a copy of which is attached hereto as Exhibit J.
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Pro Forma Policy means the title commitment attached hereto as Exhibit I, including any handwritten changes made thereto and the endorsements constituting a part thereof.
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Pro Forma Policy has the meaning set forth in Section 9.2(d).
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Related to Pro Forma Policy

  • Pro Forma means producing a balance sheet that reflects a reasonably accurate financial statement of the Failed bank through the date of closing. The pro forma financial statements serve as a basis for the opening entries of both the Assuming Institution and the Receiver.

  • Pro Forma Compliance means, with respect to any transaction, that such transaction does not cause, create or result in a Default after giving Pro Forma Effect, based upon the results of operations for the most recently completed Measurement Period to (a) such transaction and (b) all other transactions which are contemplated or required to be given Pro Forma Effect hereunder that have occurred on or after the first day of the relevant Measurement Period.

  • Pro Forma Balance Sheet as defined in Section 4.1(a).

  • Pro Forma Cost Savings means, with respect to any four-quarter period, the reduction in net costs and expenses that:

  • Pro Forma Basis “Pro Forma Compliance” and “Pro Forma Effect” mean, with respect to compliance with any test, financial ratio or covenant hereunder required by the terms of this Agreement to be made on a Pro Forma Basis or after giving Pro Forma Effect thereto, that (a) to the extent applicable, the Pro Forma Adjustment shall have been made and (b) all Specified Transactions and the following transactions in connection therewith that have been made during the applicable period of measurement or subsequent to such period and prior to or simultaneously with the event for which the calculation is made shall be deemed to have occurred as of the first day of the applicable period of measurement in such test, financial ratio or covenant: (i) income statement items (whether positive or negative) attributable to the property or Person subject to such Specified Transaction, (A) in the case of a Disposition of all or substantially all Equity Interests in any subsidiary of the Borrower or any division, product line, or facility used for operations of the Borrower or any of its Subsidiaries, shall be excluded and (B) in the case of a Permitted Acquisition or Investment described in the definition of “Specified Transaction,” shall be included, (ii) any retirement of Indebtedness, and (iii) any Indebtedness incurred or assumed by the Borrower or any of its Subsidiaries in connection therewith and if such Indebtedness has a floating or formula rate, shall have an implied rate of interest for the applicable period for purposes of this definition determined by utilizing the rate that is or would be in effect with respect to such Indebtedness as at the relevant date of determination and interest on any Indebtedness under a revolving credit facility computed on a Pro Forma Basis shall be computed based upon the average daily balance of such Indebtedness during the applicable period; provided that, without limiting the application of the Pro Forma Adjustment pursuant to clause (a) above, the foregoing pro forma adjustments may be applied to any such test or covenant solely to the extent that such adjustments are consistent with the definition of “Consolidated EBITDA” and give effect to operating expense reductions that are (i) (x) directly attributable to such transaction, (y) expected to have a continuing impact on the Borrower or any of its Subsidiaries and (z) factually supportable or (ii) otherwise consistent with the definition of “Pro Forma Adjustment.”

  • Pro Forma Compliance Certificate means a certificate of a Responsible Officer of the Borrower containing reasonably detailed calculations of the financial covenants set forth in Section 7.11 recomputed as of the end of the period of the four fiscal quarters most recently ended for which the Borrower has delivered financial statements pursuant to Section 6.01(a) or (b) after giving effect to the applicable transaction on a Pro Forma Basis.

  • Pro Forma Adjusted EBITDA shall have the meaning assigned to such term in Section 3.05(a).

  • Pro Forma Adjustment means, for any Test Period that includes all or any part of a fiscal quarter included in any Post-Acquisition Period, with respect to the Acquired EBITDA of the applicable Acquired Entity or Business or Converted Restricted Subsidiary or the Consolidated EBITDA of the Borrower, the pro forma increase or decrease in such Acquired EBITDA or such Consolidated EBITDA, as the case may be, projected by the Borrower in good faith as a result of (a) actions taken during such Post-Acquisition Period for the purposes of realizing reasonably identifiable and factually supportable cost savings or (b) any additional costs incurred during such Post-Acquisition Period, in each case in connection with the combination of the operations of such Acquired Entity or Business or Converted Restricted Subsidiary with the operations of the Borrower and the Restricted Subsidiaries; provided that (i) at the election of the Borrower, such Pro Forma Adjustment shall not be required to be determined for any Acquired Entity or Business or Converted Restricted Subsidiary to the extent the aggregate consideration paid in connection with such acquisition was less than $5,000,000 and (ii) so long as such actions are taken during such Post-Acquisition Period or such costs are incurred during such Post-Acquisition Period, as applicable, it may be assumed, for purposes of projecting such pro forma increase or decrease to such Acquired EBITDA or such Consolidated EBITDA, as the case may be, that the applicable amount of such cost savings will be realizable during the entirety of such Test Period, or the applicable amount of such additional costs, as applicable, will be incurred during the entirety of such Test Period; provided further that any such pro forma increase or decrease to such Acquired EBITDA or such Consolidated EBITDA, as the case may be, shall be without duplication for cost savings or additional costs already included in such Acquired EBITDA or such Consolidated EBITDA, as the case may be, for such Test Period.

  • Pro Forma Financial Statements shall have the meaning set forth in Section 5.5(b) hereof.

  • Pro Forma EBITDA means, for any period, the Consolidated EBITDA of the Issuer and the Restricted Subsidiaries, provided that for the purposes of calculating Pro Forma EBITDA for such period, if, as of such date of determination:

  • Pro Forma Effect means, with respect to compliance with any test or covenant hereunder, that (A) to the extent applicable, the Pro Forma Adjustment shall have been made and (B) all Specified Transactions and the following transactions in connection therewith shall be deemed to have occurred as of the first day of the applicable period of measurement in such test or covenant: (a) income statement items (whether positive or negative) attributable to the property or Person subject to such Specified Transaction, (i) in the case of a sale, transfer or other disposition of all or substantially all Stock in any Subsidiary of the Borrower or any division, product line, or facility used for operations of the Borrower or any of its Subsidiaries, shall be excluded, and (ii) in the case of a Permitted Acquisition or Investment described in the definition of “Specified Transaction”, shall be included, (b) any retirement of Indebtedness and (c) any incurrence or assumption of Indebtedness by the Borrower or any of the Restricted Subsidiaries in connection therewith (it being agreed that if such Indebtedness has a floating or formula rate, such Indebtedness shall have an implied rate of interest for the applicable period for purposes of this definition determined by utilizing the rate that is or would be in effect with respect to such Indebtedness as at the relevant date of determination); provided that, without limiting the application of the Pro Forma Adjustment pursuant to (A) above (but without duplication thereof), the foregoing pro forma adjustments may be applied to any such test or covenant solely to the extent that such adjustments are consistent with the definition of Consolidated EBITDA and give effect to events (including operating expense reductions) that are (i) (x) directly attributable to such transaction, (y) expected to have a continuing impact on the Borrower and the Restricted Subsidiaries and (z) factually supportable or (ii) otherwise consistent with the definition of Pro Forma Adjustment.

  • Pro Forma Entity has the meaning given to such term in the definition of “Acquired EBITDA.”

  • Previously Absent Financial Maintenance Covenant means, at any time, any financial maintenance covenant that is not included in the Loan Documents at such time.

  • Material Acquisition means any (a) acquisition of property or series of related acquisitions of property that constitutes assets comprising all or substantially all of an operating unit, division or line of business or (b) acquisition of or other investment in the Capital Stock of any Subsidiary or any person which becomes a Subsidiary or is merged or consolidated with the Borrower or any of its Subsidiaries, in each case, which involves the payment of consideration by the Borrower and its Subsidiaries in excess of $100,000,000 (or the equivalent in other currencies).

  • Consolidated Debt Service Coverage Ratio means, as of any date of determination, the ratio of (a) the sum of (i) Consolidated EBITDA for the most recently completed four fiscal quarters minus (ii) income taxes payable for such period minus (iii) Consolidated Capital Expenditures for such period to (b) the sum of (i) Consolidated Interest Charges for such period plus (ii) Consolidated Scheduled Funded Debt Payments for such period.