Properties in Possession Cover definition

Properties in Possession Cover means the block properties in possession insurance policy of OSB GROUP PLC and its subsidiaries (including the Seller), and any other insurance contracts in replacement, addition or substitution thereof from time to time, for any possessed Properties; Property means a freehold, leasehold or commonhold property which is subject to a Mortgage; Prospectus means the prospectus dated 28 May 2024 in relation to the issue of the Notes and approved by the FCA; Prospectus Rules means in the case of the Notes which are to be admitted to the Official List and admitted to trading on the Market, the prospectus rules made under Part VI of the FSMA; Provisional Portfolio means a provisional portfolio of loans and their related security which have been originated by the Seller and secured over properties located in England and Wales from which the Portfolio shall be selected; Purchase Price means in respect of the Portfolio:
Properties in Possession Cover means the block properties in possession insurance policy of OSB GROUP PLC and its subsidiaries (including the Seller), written by Syndicate 1686 at Lloyd's (managed by AXIS Managing Agency Ltd and subject to the supervision of the Society of Lloyd's), and any other insurance contracts in replacement, addition or substitution thereof from time to time, for any possessed Properties; Property means a freehold, leasehold or commonhold property which is subject to a Mortgage; Prospectus means the prospectus dated 31 May 2023 in relation to the issue of the Notes and approved by the FCA; Prospectus Rules means in the case of the Notes which are to be admitted to the Official List and admitted to trading on the Market, the prospectus rules made under Part VI of the FSMA; Provisional Portfolio means a provisional portfolio of loans and their related security which have been originated by the Seller and secured over properties located in England and Wales from which the Portfolio shall be selected; Purchase Price means in respect of the Portfolio:
Properties in Possession Cover means the block properties in possession insurance policy of the Seller, written by Syndicate 1686 at Lloyd's (managed by AXIS Managing Agency Ltd and subject to the supervision of the Society of Lloyd's), for any possessed Properties and any other insurance contracts in replacement, addition or substitution thereof from time to time; Property means a freehold, leasehold or commonhold property which is subject to a Mortgage; Prospectus means the prospectus dated 5 July 2021 in relation to the issue of the Notes and approved by the Central Bank; Provisional Portfolio means a provisional portfolio of loans and their related security which have been originated by the Seller and secured over properties located in England and Wales from which the Portfolio shall be selected; Purchase Price means in respect of the Portfolio:

Examples of Properties in Possession Cover in a sentence

  • The Issuer will also have the benefit of Properties in Possession Cover, Lender Interest Only Cover and Failure to Insure Cover, to the extent the Legal Title Holder has these policies in place, which will give the Issuer certain protection should the relevant Borrower not have any valid insurance in place.

  • However, no assurance can be given that the Issuer will always receive the benefit of any claims made under any Contingency Policy, any LIO Cover, any Properties in Possession Cover or any applicable buildings insurance contracts or that the amounts received in respect of a successful claim will be sufficient to reinstate the affected Property or otherwise cover the losses of the Issuer.

  • The Seller has assigned the benefit of its Properties in Possession Cover and Failure to Insure Cover, which will give the Issuer certain protection should the relevant Borrower not have any valid insurance in place.

  • The Legal Title Holder holds Contingency Policies to cover the risks of a Borrower failing to have buildings insurance of which the Legal Title Holder has not had notice and may take out lender interest only cover ("LIO Cover") where it does have such notice, and takes out insurance ("Properties in Possession Cover") to give the Legal Title Holder certain protection in respect of the risks associated with repossessed properties.

  • Pursuant to the Mortgage Sale Agreement, the Legal Title Holder is required to transfer the proceeds of any claims under a Contingency Policy or under the Properties in Possession Cover to the Issuer and, until such time the transfer has been made, hold such proceeds on trust for the Issuer.

  • However, no assurance can be given that the Issuer will always receive the benefit of any claims made under any Contingency Policy, any Properties in Possession Cover or any applicable buildings insurance contracts or that the amounts received in respect of a successful claim will be sufficient to reinstate the affected Property or otherwise cover the losses of the Issuer.

  • Pursuant to the Mortgage Sale Agreement, the Legal Title Holder is required to transfer the proceeds of any claims under a Contingency Policy, LIO Cover, or under the Properties in Possession Cover to the Issuer and, until such time the transfer has been made, hold such proceeds on trust for the Issuer.

  • The Seller has assigned the benefit of its Properties in Possession Cover, Lender Interest Only Cover and Failure to Insure Cover, which will give the Issuer certain protection should the relevant Borrower not have any valid insurance in place.

  • The Legal Title Holder holds Contingency Policies to cover the risks of a Borrower failing to have buildings insurance and an interest in a policy ("Properties in Possession Cover") to give the Legal Title Holder certain protection in respect of the risks associated with repossessed properties.


More Definitions of Properties in Possession Cover

Properties in Possession Cover means the properties in possession cover written by Royal & Sun Alliance Insurance PLC in favour of the Seller and any endorsements or extensions thereto as issued from time to time, or any such similar alternative or replacement policy or policies as may in future be issued in favour of the Seller;
Properties in Possession Cover means in relation to policies issued before 1 January 2004, the properties in possession cover written by Royal & Sun Alliance Insurance plc and in relation to policies or renewals issued on or after 1 January 2004, the properties in possession cover written by St Andrew's Insurance, in favour of the Seller and any endorsements or extensions thereto as issued from time to time, or any such similar alternative or replacement policy or policies as may in future be issued in favour of the Seller;
Properties in Possession Cover means in relation to policies issued before 1 January 2004, the properties in possession cover written by Xxxxx & Sun Alliance Insurance plc and in relation to policies or renewals issued on or after 1 January 2004, the properties in possession cover written by St Andrew’s Insurance, in favour of the Seller and any endorsements or extensions thereto as issued from time to time, or any such similar alternative or replacement policy or policies as may in future be issued in favour of the Seller; Property means a freehold, heritable or leasehold property (or in Scotland a property held under a long lease) which is subject to a Mortgage; Provisional Portfolio means the portfolio of Loans and their Related Security, particulars of which are set out in Part 1 of the Exhibit to the Original Mortgage Sale Agreement or in a document stored upon electronic media (including, but not limited to, a CD-ROM), and all right, title, interest and benefit of the Seller in and to:

Related to Properties in Possession Cover

  • Debtors in Possession means the Debtors in their capacity as debtors in possession in the Chapter 11 Cases pursuant to sections 1101, 1107(a), and 1108 of the Bankruptcy Code.

  • Debtor in Possession means any Debtor, in its capacity as a debtor in possession pursuant to sections 1107(a) and 1108 of the Bankruptcy Code.

  • Project Property means the real property on or for which preconstruction service or construction work is or will be provided.

  • Property, Plant and Equipment means any item of real property, or any interest therein, buildings, improvements and machinery.

  • Subject Properties has the meaning specified in Section 5.13(a).

  • Leased Properties have the meaning set forth in Section 3.16 herein.

  • Agricultural property means property that is used primarily for agricultural purposes but, without derogating from section 9 of the Act, excludes any portion thereof that is used commercially for the hospitality of guests, and excludes the use of the property for the purpose of eco-tourism or for the trading in or hunting of game;

  • Assets and Properties of any Person means all assets and properties of every kind, nature, character and description (whether real, personal or mixed, whether tangible or intangible, whether absolute, accrued, contingent, fixed or otherwise and wherever situated), including the goodwill related thereto, operated, owned, licensed or leased by such Person, including cash, cash equivalents, Investment Assets, accounts and notes receivable, chattel paper, documents, instruments, general intangibles, real estate, equipment, inventory, goods and Intellectual Property.

  • Plant and Equipment means permanent plant, equipment, machinery, apparatus, articles and things of all kinds to be provided and incorporated in the Facilities by the Contractor under the Contract (including the spare parts to be supplied by the Contractor under GCC Sub-Clause 3.3 hereof), but does not include Contractor’s Equipment.

  • Agricultural equipment includes but is not limited to equipment associated with livestock or crop production, horticulture, or floriculture. “Agricultural equipment” includes but is not limited to tractors; trailers; combines; tillage, planting, and cultivating implements; balers; irrigation implements; and all-terrain vehicles.

  • Income Property means, in respect of each Sub-Fund, (a) all interest, dividends and other sums deemed by the Trustee, (after consulting the auditors either on a general or case by case basis), to be in the nature of income (including taxation repayments, if any) received or receivable by the Trustee in respect of the Deposited Property of the relevant Sub-Fund (whether in cash or, without limitation, by warrant, cheque, money, credit or otherwise or the proceeds of sale or transfer of any Income Property received in a form other than cash); (b) all interest and other sums received or receivable by the Trustee in respect of (a), (c) or (d) of this definition; (c) all cash payments received or receivable by the Trustee for the account of the relevant Sub-Fund in respect of an Application; and (d) all Cancellation Compensation received by the Trustee for the account of the relevant Sub-Fund; (e) any payments to be received or are receivable by the Trustee under any contractual agreements in the nature of investments for the benefit of the relevant Sub-Fund but excluding (i) the Deposited Property; (ii) any amount for the time being standing to the credit of the distribution account for the account of the relevant Sub-Fund or previously distributed to Unitholders; (iii) gains for the account of the relevant Sub-Fund arising from the realisation of Securities; and (iv) any sums applied towards payment of the fees, costs and expenses payable by the Trust from the Income Property of the relevant Sub-Fund;

  • DOCPROPERTY DocID" \* MERGEFORMAT 22518942.2 238213-10001 5

  • Redevelopment Property means a property owned by the Company or a Consolidated Subsidiary (a) where the commenced leased square footage is less than 60% of the sum of net rentable square feet and redevelopment space, with reasonable adjustments to leased square footage determined in good faith by the Company, including adjustments for available power, required support space and common area and (b) that the Company reasonably characterizes as held in whole or in part for redevelopment.

  • Mortgaged Real Property means (a) each Real Property identified on Schedule 1.01(a) hereto and (b) each Real Property, if any, which shall be subject to a Mortgage delivered after the Original Closing Date pursuant to Section 5.11(d) or pursuant to Section 5.11(d) of the Original Credit Agreement or the Prior Credit Agreement.

  • Security Property means all right, title and interest in, to and under any Security Document, including:

  • Landlord Personal Property Collateral Access Agreement means a Landlord Waiver and Consent Agreement substantially in the form of Exhibit S, with such amendments, modifications or supplements as may be approved by Collateral Agent.

  • Property line means the division line between two units of land.

  • Excepted Property The meaning assigned in the Granting Clauses hereof.

  • Other Properties shall have the meaning set forth in Section 9.1.

  • hazardous properties means radioactive, toxic or explosive properties.

  • Blighted property means property that meets any of the following criteria:

  • Agricultural land means land suitable for use in farming.

  • Real Property Interests means all interests in real property of whatever nature, including easements, whether as owner or holder of a Security Interest, lessor, sublessor, lessee, sublessee or otherwise.

  • Rehabilitation facility means a facility that is operated for the primary purpose of assisting in the rehabilitation of disabled individuals by providing comprehensive medical evaluations and services, psychological and social services, or vocational evaluation and training or any combination of these services and in which the major portion of the services is furnished within the facility.

  • Operating Property means any property owned, leased, or operated by the Party in question or by any of its Subsidiaries or in which such Party or Subsidiary holds a security interest or other interest (including an interest in a fiduciary capacity), and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Personal Property Collateral means all Collateral other than Real Property.