Required Insurance Amount definition

Required Insurance Amount means, on an agreed value basis, the higher of (a) 125% of the aggregate of the outstanding Loans and (b) the Insurance Market Value of the Vessel.

Required Insurance Amount means, in respect of a Vessel, at any date of determination, 120% of the aggregate principal amount of the outstanding Loans which are attributable to such Vessel.

Required Insurance Amount means the amount set forth on the Addendum for such term.

Examples of Required Insurance Amount in a sentence

• Per occurrence for all claimants for claims arising out of a single accident or occurrence: Provider ContractSubcontract not-to-exceed under this Agreement: Required Insurance Amount: $0 - $1,000,000.

• Per occurrence for all claimants for claims arising out of a single accident or occurrence: Subcontract not-to-exceed under this Agreement: Required Insurance Amount: $0 - $1,000,000.

• Professional Liability Insurance covering any damages caused by an error, omission or negligent act related to the services to be provided under the Subcontract, with limits not less than the following, as determined by OHA, or such lesser amount as OHA approves in writing: Per occurrence for all claimants for claims arising out of a single accident or occurrence: Subcontract not-to-exceed under this Agreement: Required Insurance Amount: $0 - $1,000,000.

• Per occurrence for all claimants for claims arising out of a single accident or occurrence: Provider Contract not-to-exceed under this Agreement: Required Insurance Amount: $0 - $1,000,000.

• Professional Liability Insurance covering any damages caused by an error, omission or negligent act related to the services to be provided under the Provider ContractSubcontract, with limits not less than the following, as determined by OHA, or such lesser amount as OHA approves in writing: Per occurrence for all claimants for claims arising out of a single accident or occurrence: ProviderSubcontract Contract not-to-exceed under this Agreement: Required Insurance Amount: $0 - $1,000,000.

More Definitions of Required Insurance Amount

Required Insurance Amount means, in respect of a Collateral Vessel, the higher of (a) the amount which is 120% of the product of (i) the proportion of the Market Value of such Collateral Vessel to the total Market Value of all Collateral Vessels, multiplied by (ii) the total outstanding amount of the Secured Obligations, and (b) the Market Value of such Collateral Vessel calculated as of the date on which such Collateral Vessel is added to the Security Assets and thereafter as of the date of the annual renewal of the relevant Obligatory Insurances.

Required Insurance Amount is as set out in item 6 (“Required Insurance Amount”) of Schedule 5 (“Charges and other amounts”).

Required Insurance Amount means, for each Vessel, 110% of the market value of that Vessel determined in accordance with the most recent Market Valuation Report supplied to the Facility Agent in accordance with Clause 16.5 (Annual Market Valuation Report) at that time.

Required Insurance Amount means the amounts of insurance coverage described in Section 5 hereof;

Required Insurance Amount means US$250,000,000 as at the Closing Date. Following the Closing Date, such amount shall be (i) increased by the proportion of such amount (as otherwise increased or decreased prior to the relevant date) which the OLV of any new Collateral Asset bears to the aggregate OLV of all Collateral Assets at such time and (ii) decreased by the proportion of such amount (as otherwise increased or decreased prior to the relevant date) which the OLV of any removed Collateral Asset bears to the aggregate OLV of all Collateral Assets at such time, whereupon the “Required Insurance Amount” at any given date shall be the amount so increased and decreased prior to such date.

Required Insurance Amount has the meaning set forth in the Pricing Side Letter.

Required Insurance Amount is as set out in item3 of Schedule 5. Rules has the meaning given in the Connection and Access Agreement. Rules Procedures has the meaning given in clause 28.2.‌‌ Safe System of Work means a documented process governing the safe access to and operation of the equipment, which process systematically examines tasks to identify hazards and assess relevant risks and which also identifies safe methods of work to eliminate hazards or reduce risks associated with the identified hazards. The system must use a recognised methodology such as a 'Permit to Work' system or 'Switching and Access'. The system must specify the training and experience for each grade of access granted under the system to an Authorised Person. It must also ensure the maintenance of an up-to-date list of all persons currently Authorised under the system and the grade of access for which they are authorised.