Policy Claim Definition - Law Insider

Policy Claim definitionPolicy Claim means any Claim under the express terms of a Policy, whether arising (or projected to arise) prior to, on or at any time after the Effective Date, for losses incurred.View SourceBased on 9 documents9Draft with AISplit ViewAI-Powered Contracts

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Get StartedBook a DemoPolicy Claim means a claim for indemnity under the Policy.View SourceBased on 4 documents4Draft with AIPolicy Claim means any Claim under a Policy or Policies in respect of an Insured Obligation (as identified by CUSIP, if any).View SourceBased on 3 documents3Draft with AI

Examples of Policy Claim in a sentence

• Any and all Note Policy Claim Amounts disbursed by the Trust Collateral Agent from claims made under the Note Policy shall not be considered payment by the Trust or from the Spread Account with respect to such Notes, and shall not discharge the obligations of the Trust with respect thereto.

• If the Note Policy Claim Amount for such Insured Distribution Date is greater than zero, the Trust Collateral Agent shall furnish to the Insurer no later than 12:00 noon Eastern time on the related Draw Date a completed Notice of Claim (as defined in (b) below) in the amount of the Note Policy Claim Amount.

• Each Deficiency Notice shall direct the Insurer to remit such Policy Claim Amount to the Indenture Trustee for deposit in the Payment Account.

• In accordance with the provisions of the Note Policy, the Insurer is required to pay to the Trust Collateral Agent the Note Policy Claim Amount properly claimed thereunder by 10:00 a.m., Eastern time, on the later of (i) the third Business Day following receipt on a Business Day of the Notice of Claim, and (ii) the applicable Insured Distribution Date.

• On each Distribution Date, based solely on the Distribution Date Statement, the Indenture Trustee will apply the Net Collections available with respect to the related Collection Period, together with amounts, if any, withdrawn from the Spread Account, the Prefunding Account and the Capitalized Interest Account or representing payment of the Policy Claim Amount, to make the deposits to the Note Distribution Account required pursuant to Section 4.03(a) of the Sale and Servicing Agreement.

• Upon receipt of the Policy Claim Amount, the Indenture Trustee shall apply the portion thereof, if any, representing the Deficiency Amount with respect to a Distribution Date as provided in Section 4.03.

• Any and all Policy Claim Amounts disbursed by the Trust Collateral Agent from claims made under the Policy shall not be considered payment by the Issuer or from the Spread Account with respect to such Class A Notes, and shall not discharge the obligations of the Issuer with respect thereto.

• In accordance with the provisions of the Policy, the Note Insurer is required to pay to the Trust Collateral Agent the Policy Claim Amount properly claimed thereunder by 12:00 noon, New York City time, on the later of (i) the third Business Day (as defined in the Policy) following receipt on a Business Day (as defined in the Policy) of the Notice of Claim, and (ii) the applicable Payment Date.

• Payment of Policy Claim Amounts will be made only at the time set forth in the Note Policy, and no accelerated Insured Payments (as defined in the Note Policy) will be made except to the extent that the Insurer has specified an earlier date for payment at its sole option.

• If the Note Policy Claim Amount for such Payment Date is greater than zero, the Trustee shall furnish to the Note Insurer no later than 12:00 noon New York City time on the related Draw Date a completed Notice of Claim (as defined in clause (b) below) in the amount of the Note Policy Claim Amount.

More Definitions of Policy Claim

Policy Claim has the meaning set forth in Article VI.View SourceBased on 3 documents3Draft with AIPolicy Claim means, with respect to any FSA Policy, a claim for payment of an Obligation under such FSA Policy.View SourceBased on 3 documents3Draft with AIPolicy Claim means an obligation incurred under a contract or policy of insurance issued by an unauthorized insurer as described by Chapter 101. The term does not include claims under reinsurance contracts or claims of other creditors.View SourceBased on 2 documents2Draft with AIPolicy Claim means, with respect to any FSA MTN Business Policy, a claim for payment under such FSA MTN Business Policy.View SourceBased on 1 documents1Draft with AIPolicy Claim means a routine claim for benefits under a medical, dental, disability or group life insurance program.View SourceBased on 1 documents1Draft with AIPolicy Claim means the Quota Share of all liabilities of the Cedent incurred under or arising out of the Policies, including, without duplication, all (i) death benefits (including accelerated death benefits), (ii) endowment benefits, (iii) policy loans, (iv) withdrawals of cash value, (v) cash surrender values, (vi) disability benefits, (vii) waived premium, (viii) policyholder dividends, (ix) annuitizations, (x) guaranteed living withdrawal benefits, (xi) other rider benefits and (xii) all liabilities for compensatory, consequential, exemplary, punitive or other special or similar damages (including, without limitation, obligations in excess of policy limits), which relate to or arise in connection with, but not arising under the express terms and conditions of, the Policies and any settlement, defense or investigation costs incurred in connection with the Policies, any alleged or actual act, error, omission or other event in connection with the handling of any claim under any of the Policies or in connection with the sales, marketing, underwriting, issuance, delivery, use of modal premiums or premium financing, cancellation or administration of any of the Policies, in each case, to the extent incurred prior to, at or after the Effective Date, including, as applicable, with respect to each of the foregoing items (i) through (xii), all interest thereon and all unclaimed property liabilities in connection therewith (including all unclaimed property liabilities in connection with the depletion of account values through the application of a non-forfeiture or similar policy option), and with respect to such liabilities, in each case, (x) net of liabilities accrued under Existing Reinsurance, and (y) accrued in respect of any Claimable Policy in a Reporting Period, so long as each such Policy Claim was required to be paid pursuant to the terms of the relevant Policy.View SourceBased on 1 documents1Draft with AI

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