Residual Value Insurer definition

Residual Value Insurer means R.V.I. America Insurance Company, a Connecticut insurance company, together with any successor thereto by merger, consolidation or sale of substantially all of its assets.
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Residual Value Insurer means R.V.I. America Insurance Company or such other residual value insurance company as Dapper I, Dapper II and Dapper III may select and FFC may approve.
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Residual Value Insurer means R.V.I. America Insurance Company.
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Examples of Residual Value Insurer in a sentence

  • Guaranteed Auto Protection (GAP) offered by a Property Residual Value Insurer (PRVI) licensed and regulated by the Louisiana Department of Insurance.

  • Lender and its counsel shall have received the Certificates of Owner, Remainderman, Tenant, and Residual Value Insurer, each dated the Closing Date and substantially in the forms of Exhibit G-1 through G-4 and as approved in final form by Lender and its counsel.

  • Owner acknowledges that, subject to the Loss Payee Endorsement, the Residual Value Insurer in the Residual Value Policy has agreed to deliver directly to Lender all proceeds payable by Residual Value Insurer under the Residual Value Policy.

  • Lender shall have received the opinions of counsel to Owner, Remainderman, if any, Tenant, Seller, Master Lease Guarantor and Residual Value Insurer, each dated the Closing Date and addressed to Lender, with respect to such matters as set forth in Exhibits F-1 through F-6 respectively, and as approved in final form and substance by Lender and its counsel.

  • Unless all of the Indebtedness shall have been paid in full on or prior to the Maturity Date and this Indenture released with respect to all of the Mortgaged Properties subject hereto, Owner shall maintain in full force and effect the Residual Value Policy from the Residual Value Insurer and comply with its obligations pursuant to the Residual Value Policy.

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  • The Residual Value Insurer has agreed to make payment of proceeds to Lender pursuant to the Loss Payee Endorsement of the Residual Value Policy.

  • Owner shall have delivered to Lender, a certified resolution of all directors or other necessary Persons authorizing Owner, Remainderman Tenant, Seller, Master Lease Guarantor and Residual Value Insurer to execute, deliver and perform the Operative Documents to which each is a party.

  • Remainderman, Tenant, Seller, Master Lease Guarantor and Residual Value Insurer shall have supplied evidence acceptable to Lender thereof.

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More Definitions of Residual Value Insurer

Residual Value Insurer. Any of Financial Structures Limited (the obligations of which under each Residual Value Insurance Policy issued by it are reinsured by Royal Indemnity Co.) or RVI America Insurance Co.
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Related to Residual Value Insurer

  • Residual Value means the proceeds, less removal and disposal costs, if any, realized upon disposition of a tangible capital asset. It usually is measured by the net proceeds from the sale or other disposition of the asset, or its fair value if the asset is traded in on another asset. The estimated residual value is a current forecast of the residual value.

  • ALG Residual Value means the residual value of the vehicle set forth as the ALG Residual Value in the Lease schedule attached as Exhibit A hereto, which shall be the lesser of (i) the ALG residual values of the 2015-1 Vehicles at the scheduled termination of the related 2015-1 Leases at the time the related 2015-1 Lease was signed and (ii) the ALG residual values of the 2015-1 Vehicles at the scheduled termination of the related 2015-1 Leases provided by ALG in November 2014.

  • Base Residual Value means, for a Lease, the lower of (a) the Contract Residual Value of the Lease and (b)(i) the ALG Residual Value of the related Leased Vehicle or (ii) if the Servicer does not have an ALG Residual Value, the oldest ALG MTM Residual Value that the Servicer has for the related Leased Vehicle.

  • Mortgage Insurer means CMHC, Genworth Financial Insurance Company Canada, or any other company that insures the payment of mortgages to mortgage lenders.

  • Insurer means a person who insures or guarantees for the benefit of the mortgagee all or any portion of the risk of loss upon borrower default on any of the mortgage loans originated, purchased or serviced by the Company or any of its Subsidiaries, including the Federal Housing Administration, the United States Department of Veterans’ Affairs, the Rural Housing Service of the U.S. Department of Agriculture and any private mortgage insurer, and providers of hazard, title or other insurance with respect to such mortgage loans or the related collateral.

  • FHA Mortgage Insurance Contract means the contractual obligation of the FHA respecting the insurance of a Mortgage Loan.

  • Retail value of a prize means:

  • Underlying insurance means the DESIGNATED UNDERLYING POLICY and all insurances affording professional liability insurance coverage to any INSURED hereunder which are considered to be primary to this insurance, including without limitation, any such mandatory insurance coverage afforded any INSURED by any law society or other program, and any such non-mandatory insurances purchased as coverage or primary to (beneath) this POLICY coverage, but in no case shall include any insurance specifically acquired and stated to be in excess of this POLICY. Signed on behalf of Lawyers’ Professional Indemnity CompanyDaniel E. PinningtonDaniel E. PinningtonPresident and Chief Executive Officer Endorsement No . 1pollutIon exClusIonThis POLICY, subject to all its terms and conditions not in conflict with this endorsement, and further to Part III Exclusion (g), shall include the following:This insurance does not apply to:(a) damage arising out of the actual, alleged or threatened discharge, seepage, dispersal, release or escape of pollutants:

  • Insurance Report means an insurance report in respect of the Insurances confirming that such Insurances are placed with such insurers, insurance companies and/or clubs in such amounts, against such risks and in such form as acceptable to the Agent (acting on the instructions from the Finance Parties) and comply with the requirements under Clause 26.3 (Insurance) and the GIEK Guarantee prepared by Bank Assure Insurance Services Inc., or such other reputable insurance advisor approved by the Agent, and dated on or about 11 June 2010 and addressed to, and capable of being relied upon by, the Finance Parties.

  • Health-care-insurance receivable means an interest in or claim under a policy of insurance which is a right to payment of a monetary obligation for health-care goods or services provided.

  • Actual Value means the greenhouse gas emissions savings for some or all of the steps of a specific biofuel, bioliquid or biomass fuel production process, calculated in accordance with the methodology laid down in Part C of Annex V or Part B of Annex VI;

  • Mortgage Insurance means insurance protecting Lender against the nonpayment of, or default on, the Loan.

  • Primary Mortgage Insurance Insurance obtained from a Primary Mortgage Insurer which insures the holder of a Mortgage Note against loss in the event the related Borrower defaults under such Mortgage Note or the related Security Instrument, including all riders and endorsements thereto.

  • Certificate Insurance Policy The Certificate Guaranty Insurance Policy No. AB1094BE, dated the Closing Date, including any endorsements thereto issued by the Certificate Insurer to the Trustee for the benefit of the Holders of the Insured Certificates, a form of which is attached as Exhibit L hereto.

  • Collateral Value The appraised value of a Mortgaged Property based upon the lesser of (i) the appraisal (as reviewed and approved by the Seller) made at the time of the origination of the related Mortgage Loan, or (ii) the sales price of such Mortgaged Property at such time of origination. With respect to a Mortgage Loan the proceeds of which were used to refinance an existing mortgage loan, the appraised value of the Mortgaged Property based upon the appraisal (as reviewed and approved by the Seller) obtained at the time of refinancing.

  • Primary Mortgage Insurance Policy Any primary mortgage guaranty insurance policy issued in connection with a Mortgage Loan which provides compensation to a Mortgage Note holder in the event of default by the obligor under such Mortgage Note or the related Security Instrument, if any or any replacement policy therefor through the related Interest Accrual Period for such Class relating to a Distribution Date.

  • Certificate Insurer As defined in the Series Supplement.

  • FHA Mortgage Insurance means, mortgage insurance authorized under the National Housing Act, as amended from time to time, and provided by the FHA.

  • Rental Value means Business Income that consists of:

  • Qualified Mortgage Insurer Any mortgage insurer that is Xxxxxx Xxx and Xxxxxxx Mac approved.

  • Required Special Servicer Rating means with respect to a special servicer (i) in the case of Fitch, a rating of “CSS3”, (ii) in the case of S&P, such special servicer is on S&P’s Select Servicer List as a U.S. Commercial Mortgage Special Servicer, (iii) in the case of Xxxxx’x, such special servicer is acting as special servicer for one or more loans included in a commercial mortgage loan securitization that was rated by Xxxxx’x within the twelve (12) month period prior to the date of determination, and Xxxxx’x has not downgraded or withdrawn the then-current rating on any class of commercial mortgage securities or placed any class of commercial mortgage securities on watch citing the continuation of such special servicer as special servicer of such commercial mortgage loans, (iv) in the case of Morningstar, such special servicer has a ranking by Morningstar equal to or higher than “MOR CS3” as a special servicer, provided that if Morningstar has not issued a ranking with respect to such special servicer, such special servicer is acting as special servicer in a commercial mortgage loan securitization that was rated by a Rating Agency within the twelve (12) month period prior to the date of determination, and Morningstar has not downgraded or withdrawn the then-current rating on any class of commercial mortgage securities or placed any class of commercial mortgage securities on watch citing the continuation of such special servicer as special servicer of such commercial mortgage securities, (v) in the case of KBRA, KBRA has not cited servicing concerns of such special servicer as the sole or material factor in any qualification, downgrade or withdrawal of the ratings (or placement on “watch status” in contemplation of a ratings downgrade or withdrawal) of securities in a transaction serviced by such special servicer prior to the time of determination, and (vi) in the case of DBRS, such special servicer is acting as special servicer in a commercial mortgage loan securitization that was rated by DBRS within the twelve (12) month period prior to the date of determination and DBRS has not downgraded or withdrawn the then-current rating on any class of commercial mortgage securities or placed any class of commercial mortgage securities on watch citing the continuation of such special servicer as special servicer of such commercial mortgage securities as a material reason for such downgrade or withdrawal.

  • General Special Servicer mean the Person performing the duties and obligations of special servicer with respect to the Mortgage Pool (exclusive of (A) any Serviced Loan Combination or related REO Property as to which a different Loan Combination Special Servicer has been appointed with respect thereto and (B) any Excluded Special Servicer Mortgage Loan or any related REO Property as to which an Excluded Mortgage Loan Special Servicer has been appointed with respect thereto).

  • Lender-Paid Mortgage Insurance Rate With respect to any Lender-Paid Mortgage Insurance Loan, a per annum rate equal to the percentage indicated on the Mortgage Loan Schedule under the heading "Lender-Paid Mortgage Insurance Rate."

  • Reinsurer has the meaning set forth in the preamble.

  • Rental Vehicle means a New Vehicle less than two years old owned by a New Vehicle Borrower and purchased directly from a manufacturer as a New Vehicle and that is used as a service loaner vehicle or is periodically subject to a rental contract with customers of the New Vehicle Borrower for loaner or rental periods of up to thirty (30) consecutive days or is used by dealership personnel in connection with parts and service operations.