Significant Curtailment of Coverage definition

Significant Curtailment of Coverage means an overall reduction in coverage provided under the Qualified Benefits or by a Dependent Care Service Provider under the DFSA so as to constitute reduced coverage generally. The Administrator, in its sole discretion, will determine whether a Significant Curtailment of Coverage has occurred, based on prevailing IRS guidance.
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Examples of Significant Curtailment of Coverage in a sentence

  • Applies to All Insurance Benefits and DCAP Benefits, but Not to Health FSA Benefits.) You may also change your election if one of the following events occurs: • Significant Curtailment of Coverage.

  • Applies to Medical Insurance Benefits and DCAP Benefits) You may also change your election if one of the following events occurs: * Significant Curtailment of Coverage.

  • Applies to DCAP Benefits, but Not to Health FSA Benefits.) You may also change your election if one of the following events occurs: • Significant Curtailment of Coverage.

  • Applies to Medical Insurance Benefits, Dental Insurance Benefits, and DCAP Benefits, but Not to Health FSA Benefits.) You may also change your election if one of the following events occurs: Significant Curtailment of Coverage.

  • If a Participant, the Participant’s Spouse, or the Participant’s other Dependent has a Significant Curtailment of Coverage (as defined below) under a Qualified Benefit, which is not a Loss of Coverage, then that Participant may revoke their election for that coverage and, in lieu thereof, receive coverage under another Qualified Benefit providing Similar Coverage.

  • If a Participant has a Significant Curtailment of Coverage (that is not a Loss of Coverage) under the DFSA, then that Participant may revoke their election for that coverage and, in lieu thereof, make a new election under the DFSA.

  • Applies to Medical Insurance Benefits) You may also change your election if one of the following events occurs: * Significant Curtailment of Coverage.

  • Applies to Premium Conversion and Dependent Care, but Not to Medical Reimbursement Benefits.) You may also change your election for the Plan if one of the following events occurs: • Significant Curtailment of Coverage.

  • You may also change your election if one of the following events occurs:• Significant Curtailment of Coverage.

  • Applies to DCAP Benefits) You may also change your election if one of the following events occurs:‌ * Significant Curtailment of Coverage.

Related to Significant Curtailment of Coverage

  • Curtailment Any Principal Prepayment made by a Mortgagor which is not a Principal Prepayment in Full.

  • Period of Coverage means the Plan Year, with the following exceptions: (a) for Employees who first become eligible to participate, it shall mean the portion of the Plan Year following the date on which participation commences, as described in Section 3.1; and (b) for Employees who terminate participation, it shall mean the portion of the Plan Year prior to the date on which participation terminates, as described in Section 3.2.

  • Special Hazard Coverage The Special Hazard Coverage on the most recent anniversary of the Cut-Off Date (calculated in accordance with the second sentence of this paragraph) or, if prior to the first such anniversary, $9,706,461, in each case reduced by Special Hazard Losses allocated to the REMIC II Regular Interests since the most recent anniversary of the Cut-Off Date (or, if prior to the first such anniversary, since the Cut-Off Date). On each anniversary of the Cut-Off Date, the Special Hazard Coverage shall be reduced, but not increased, to an amount equal to the lesser of (1) the greatest of (a) the aggregate principal balance of the Mortgage Loans located in the single California zip code area containing the largest aggregate principal balance of Mortgage Loans, (b) 1.0% of the aggregate unpaid principal balance of the Mortgage Loans and (c) twice the unpaid principal balance of the largest single Mortgage Loan, in each case calculated as of the Due Date in the immediately preceding month, and (2) $9,706,461 as reduced by the Special Hazard Losses allocated to the REMIC II Regular Interests since the Cut-Off Date. The Special Hazard Coverage may be reduced upon written confirmation from the Rating Agencies that such reduction will not adversely affect the then current ratings assigned to the Certificates by the Rating Agencies (determined in the case of the Insured Certificates, without giving effect to the Certificate Insurance Policy).

  • Debt Service Coverage means that for every $1.00 of debt service required to be paid there must be $1.15 of Net Operating Income available. A worksheet for the calculation of Debt Service Coverage is found in the Report of Operations attached hereto as Exhibit "H" and incorporated herein by this reference.

  • Casualty shall have the meaning set forth in Section 6.2 hereof.

  • Special Hazard Loss Coverage Amount With respect to the first Distribution Date, $5,000,000. With respect to any Distribution Date after the first Distribution Date, the lesser of (a) the greatest of (i) 1% of the aggregate of the principal balances of the Mortgage Loans, (ii) twice the principal balance of the largest Mortgage Loan and (iii) the aggregate of the principal balances of all Mortgage Loans secured by Mortgaged Properties located in the single California postal zip code area having the highest aggregate principal balance of any such zip code area and (b) the Special Hazard Loss Coverage Amount as of the Closing Date less the amount, if any, of Special Hazard Losses allocated to the Certificates since the Closing Date. All principal balances for the purpose of this definition will be calculated as of the first day of the calendar month preceding the month of such Distribution Date after giving effect to Scheduled Payments on the Mortgage Loans then due, whether or not paid.

  • Lot coverage means the portion or percentage of the area of a lot upon which buildings are erected.

  • Evidence of coverage means any certificate, agreement or contract issued to an enrollee setting out the coverage to which the enrollee is entitled.

  • Casualty insurance means liability insurance.

  • Coverage Area means the area described in the Website for which Nearmap has available Products, which may cover part or all of that area and which may cover part (but not all) of the area covered by the Survey.

  • Curtailment Period means a time period for which Seller is requested by CAISO or a Transmission Provider to curtail its Power Product for Force Majeure or otherwise.

  • Coverage or “Covering”) shall mean that the developing, making, using, offering for sale, promoting, selling or importing of a given compound, formulation or product would infringe a Valid Claim of an issued patent in the absence of a license under such Valid Claim. The determination of whether a compound, formulation or product is Covered by a particular Valid Claim shall be made on a country-by-country basis.

  • Insurance Coverage Contractor shall, at Contractor’s sole expense, procure, maintain and keep in force for the duration of this Contract the following insurance conforming to the minimum requirements specified below. Unless specified herein or otherwise agreed to by the City, the required insurance shall be in effect prior to the commencement of work by Contractor and shall continue in force as appropriate until the latter of:

  • Enrollee point-of-service cost-sharing or "cost-sharing" means amounts paid to health carriers directly providing services, health care providers, or health care facilities by enrollees and may include copayments, coinsurance, or deductibles.

  • Net Insurance Proceeds Insurance Proceeds, to the extent such proceeds are not to be applied to the restoration of the related Mortgaged Property or released to the Mortgagor in accordance with the express requirements of the Mortgage or Note or other Loan Documents included in the Mortgage File or in accordance with the Servicing Standard, or with respect to the environmental insurance policy, applied to pay any costs, expenses, penalties, fines or similar items; provided that, in the case of an Outside Serviced Mortgage Loan, “Net Insurance Proceeds” under this Agreement shall be limited to any related Insurance Proceeds that are received by the Trust Fund in connection with such Outside Serviced Mortgage Loan, pursuant to the allocations set forth in the related Co-Lender Agreement.

  • Historic building means a building, including its structural components, that is located in this state and that is either individually listed on the national register of historic places under 16 U.S.C. 470a, located in a registered historic district, and certified by the state historic preservation officer as being of historic significance to the district, or is individually listed as an historic landmark designated by a local government certified under 16 U.S.C. 470a(c).

  • windstorm means straight line winds of at least 80 miles per

  • REASONABLY SAFE FROM FLOODING Means base flood waters will not inundate the land or damage structures to be removed from the floodplain and that any subsurface waters related to the base flood will not damage existing or proposed buildings.

  • Interruption means a reduction in non-firm transmission service due to economic reasons pursuant to Tariff, Part II, section 14.7.

  • life insurance business means the business of providing or undertaking to provide policy benefits under life policies;

  • Insurance adjuster means a person who directs or conducts the investigation, negotiation, or settlement of a claim under an insurance policy other than life insurance or an annuity, on behalf of an insurer, policyholder, or a claimant under an insurance policy.

  • Planned External Financed Generation Capacity Resource means a Planned External Generation Capacity Resource that, prior to August 7, 2015, has an effective agreement that is the equivalent of an Interconnection Service Agreement, has submitted to the Office of the Interconnection the appropriate certification attesting achievement of Financial Close, and has secured at least 50 percent of the MWs of firm transmission service required to qualify such resource under the deliverability requirements of the Reliability Assurance Agreement.

  • insurance business means one or more aspects of the business of selling, issuing or underwriting insurance or reinsurance.

  • Planned Financed Generation Capacity Resource means a Planned Generation Capacity Resource that, prior to August 7, 2015, has an effective Interconnection Service Agreement and has submitted to the Office of the Interconnection the appropriate certification attesting achievement of Financial Close.

  • Insurance means (i) all insurance policies covering any or all of the Collateral (regardless of whether the Collateral Agent is the loss payee thereof) and (ii) any key man life insurance policies.

  • Salvage Yard means any non-residential property used for the storage, collection, and/or recycling of any type of equipment, and including but not limited to vehicles, appliances and related machinery.