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.
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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.
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Required Insurance Amount means the amount set forth on the Addendum for such term.
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Examples of Required Insurance Amount in a sentence

  • The minimum coverage under any such Required Insurance Policy shall be at least equal to the Required Insurance Amount as set forth on the Addendum.

  • The minimum coverage under any such Fidelity Bond and Errors and Omissions Insurance Policy shall be at least equal to the Required Insurance Amount.

  • Each Collateral Asset Owner will, at all times in respect of each Collateral Asset, maintain insurance in the applicable Required Insurance Amount with financially sound and reputable insurance companies against at least such risks and as are customarily maintained by similar businesses and as may be required by Applicable Law (including hazard and business interruption insurance).

  • 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.

  • A full list of SCRC counties and county equivalents by economic designation can be found on scrc.gov.


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.
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Required Insurance Amount is as set out in item 6 (“Required Insurance Amount”) of Schedule 5 (“Charges and other amounts”).
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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.
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Required Insurance Amount means the amounts of insurance coverage described in Section 5 hereof;
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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.
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Required Insurance Amount has the meaning set forth in the Pricing Side Letter for such term.
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Required Insurance Amount means, in respect of a Collateral Vessel, 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 aggregate of the total outstanding amount of the Secured Obligations plus (without duplication) the aggregate Revolving Loan Commitments (as defined in the Existing Program Debt Documents). For these purposes, the Market Value of such Collateral Vessel shall be 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 (taking into account any updated valuations).
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