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The Excess Sample Clauses

The Excess clause defines the portion of a loss or claim that the insured must pay before the insurer becomes liable to cover the remaining amount. In practice, this means that for each claim, the insured is responsible for costs up to a specified threshold, such as a fixed dollar amount or a percentage of the loss, and only amounts above this excess are paid by the insurer. This clause serves to reduce the insurer's exposure to minor or frequent claims, encourages the insured to take preventive measures, and helps keep insurance premiums more affordable.
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The Excess.ÌýThe Insured will bear the first amount of each and every Claim up to the amount of the Excess specified in the Schedule.
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The Excess.ÌýThe insurance may be subject to an Excess of such monetary amount and on such terms as the Insurer and the Firm agree. Subject to clause 3.4, the Excess may be ‘self-insuredâ€� or partly or wholly insured without regard to these minimum terms and conditions.
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The Excess.ÌýFunding Account currently is maintained with The Bank of New York. The Trustee shall possess all right, title and interest in all funds and property from time to time on deposit in or credited to the Excess Funding Account and in all proceeds thereof. The Excess Funding Account shall be under the sole dominion and control of the Trustee. Except as expressly provided in this Agreement, the Servicer agrees that it shall have no right of setoff or banker's lien against, and no right to otherwise deduct from, any funds held in the Excess Funding Account for any amount owed to it by the Trustee, the Trust, any Certificateholder or any Series Enhancer. If, at any time, the Excess Funding Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within ten (10) Business Days (or such longer period, not to exceed thirty (30) calendar days, as to which each Rating Agency may consent) establish a new Excess Funding Account meeting the conditions specified above, transfer any funds and property to such new Excess Funding Account and from the date such new Excess Funding Account is established, it shall be the "Excess Funding Account." Funds on deposit in the Excess Funding Account shall at the direction of the Servicer be invested by the Trustee in Eligible Investments selected by the Servicer. All such Eligible Investments shall be held by the Trustee. The Trustee shall (i) hold each Eligible Investment that constitutes investment property through a securities intermediary, which securities intermediary shall agree with the Trustee that (A) such investment property shall at all times be credited to a securities account of the Trustee, (B) such securities intermediary shall treat the Trustee as entitled to exercise the rights that comprise each financial asset credited to such securities account, (C) all property credited to such securities account shall be treated as a financial asset, (D) such securities intermediary shall comply with entitlement orders originated by the Trustee without the further consent of any other person or entity, (E) such securities intermediary shall not agree with any person or entity other than the Trustee to comply with entitlement orders originated by any person or entity other than the Trustee, (F) such securities account and the property credited thereto shall not be subject to any lien or encumbrance on, security interest in, or right of set-off in favor of such securities intermediary or any...
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The Excess.ÌýAny additional travel and accommodation expenses incurred where the means of transport and/ or accommodation used is of a standard superior to that of the outbound leg of the Journey.
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The Excess.ÌýA missed departure caused by strike or industrial action that could be reasonably expected when the Journey was booked.
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The Excess.ÌýElectrical Charges shall be equal to the product of (i) the Excess Electricity Usage multiplied by (ii) the dollar amount charged by ------------- the electric company to provide the Excess Electricity Usage.
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Related to The Excess

  • Excess the amount of the excess as applicable and stated in the schedule.

  • Excess Usage If during a Billing Period, In Energy is greater than zero (0), then Excess Usage for that Billing Period will be calculated. If Excess Usage is greater than zero (0), then for the Facility and any secondary account at the conclusion of that Billing Period: (i) kilowatt-hour usage will equal the value of Excess Usage and (ii) Unused Credits are equal to zero (0). If Excess Usage is equal to zero (0), then for the Facility and secondary accounts at the conclusion of that Billing Period: (i) kilowatt-hour usage is equal to zero (0) and (ii) Unused Credits are reduced by the value of In Energy, determined for that Billing Period, and that reduced value, in accordance with paragraph (C) Unused Credits of this Article IV, will remain for possible future application.

  • Monthly Payments Beginning on the date that is the twelve (12) month anniversary of the date hereof, the Company shall make monthly payments of interest, and beginning on the date that is the eighteen (18) month anniversary of the date hereof, the Company shall make monthly payments of interest plus principal payments in the amount of One Hundred Thousand Dollars ($100,000) (such payments shall be referred to as “Scheduled Paymentsâ€�). After the first Scheduled Payment, each subsequent Scheduled Payment shall be due and payable on the same day of each subsequent calendar month until the Maturity Date. All payments in respect of the indebtedness evidenced hereby shall be made in collected funds, and shall be applied to principal, accrued interest and charges and expenses owing under or in connection with this Note in such order as the Holder elects, except that payments shall be applied to accrued interest before principal. Notwithstanding the foregoing, this Note shall become due and immediately payable, including all accrued but unpaid interest, upon an Event of Default (as defined in Section 2 hereof). Notwithstanding any provision of this Section 1(c) to the contrary, the Holder may, at its option and in its sole discretion, deliver a written notice to the Company at least two (2) days prior to any Scheduled Payment due date electing to have the payment of all or any portion of Scheduled Payment payable on the next Scheduled Payment due date deferred to the Maturity Date. Any amount deferred to the Maturity Date pursuant to this Section shall continue to accrue interest through the Maturity Date. In the event that the Company redeems a portion of the principal amount outstanding under this Note, the Company shall be entitled to an off-set to the amount of principal due pursuant to the next Schedule Payment equal to the amount of principal redeemed or converted (the “Off-Set Amountâ€�). In such event the Company shall be obligated to make the next Scheduled Payment reduced by any Off-Set Amount as contemplated hereunder.

  • Excess Funds Any party receiving funds paid by SBBC under this Agreement agrees to promptly notify SBBC of any funds erroneously received from SBBC upon the discovery of such erroneous payment or overpayment. Any such excess funds shall be refunded to SBBC.

  • Consolidated Excess Cash Flow If there shall be Consolidated Excess Cash Flow for any Fiscal Year beginning with the Fiscal Year ending December 31, 2018, the Borrowers shall, within ten Business Days of the date on which the Borrowers are required to deliver the financial statements of Holdings and its Restricted Subsidiaries pursuant to Section 5.1(b), prepay the Loans and/or certain other Obligations as set forth in Section 2.15(b) in an aggregate amount equal to (i) 50% of such Consolidated Excess Cash Flow minus (ii) voluntary prepayments of the Loans made during such Fiscal Year (excluding repayments of Revolving Loans or Swing Line Loans except to the extent the Revolving Credit Commitments are permanently reduced in connection with such repayments) paid from Internally Generated Cash (provided that such reduction as a result of prepayments made pursuant to Section 10.6(k) shall be limited to the actual amount of cash used to prepay principal of Term Loans (as opposed to the face amount thereof)); provided, if, as of the last day of the most recently ended Fiscal Year, the Consolidated Total Net Leverage Ratio (determined for such Fiscal Year by reference to the Compliance Certificate delivered pursuant to Section 5.1(c) calculating the Consolidated Total Net Leverage Ratio as of the last day of such Fiscal Year) shall be (A) less than or equal to 4.50:1.00 but greater than 4.00:1.00, the Borrowers shall only be required to make the prepayments and/or reductions otherwise required hereby in an amount equal to (1) 25% of such Consolidated Excess Cash Flow minus (2) voluntary repayments of the Loans made during such Fiscal Year (excluding repayments of Revolving Loans or Swing Line Loans except to the extent the Revolving Credit Commitments are permanently reduced in connection with such repayments) paid from Internally Generated Cash (provided that such reduction as a result of prepayments made pursuant to Section 10.6(k) shall be limited to the actual amount of cash used to prepay principal of Term Loans (as opposed to the face amount thereof)) and (B) less than or equal to 4.00:1.00, the Borrowers shall not be required to make the prepayments and/or reductions otherwise required by this Section 2.14(e).