Program Losses definition

Program Losses mean the aggregate of all Transaction Losses incurred under the Temporary Credit and Liquidity Facility Program and the New Issue Bond Program.
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Program Losses has the meaning given to such term in Section 1 of Schedule C of this Agreement.
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Program Losses has the meaning given to that term in the Uniform Loss Sharing Attachment.
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Examples of Program Losses in a sentence

  • Neither GSE will share in Program Losses allocable to the other GSE.

  • The sharing of Program Losses will be structured between Treasury and each GSE separately.

  • Treasury will bear all Program Losses realized on the New Issue Bond Program and the Temporary Credit and Liquidity Facility Program up to the First Loss Limit (“First Position Losses”).

  • A GSE will only share in Program Losses realized on the New Issue Bonds backing the GSE Securities issued by that GSE and on losses realized on that GSE’s portion of the Temporary Credit and Liquidity Facilities.

  • In order to evidence a GSE’s loss sharing obligations with respect to the GSE Securities it issues, the GSE will issue a partial guarantee to the related Trust (“Partial Guarantee”) for Program Losses allocable to such GSE Securities.

  • Each GSE will bear Program Losses, if any, realized on the New Issue Bond Program and the Temporary Credit and Liquidity Facility Program once the Program Losses, if any, realized by Treasury equal the First Loss Limit (“Second Position Losses”).

  • This Section applies if a GSE has calculated that a Transaction Loss has been realized with respect to one or more New Issue Bonds or Temporary Credit and Liquidity Facilities but the amount of the aggregate Program Losses has not exceeded the First Loss Limit.

  • This Section applies if a GSE has calculated that a Transaction Loss has been realized with respect to one or more New Issue Bonds or Temporary Credit and Liquidity Facilities, aggregate Program Losses exceed the First Loss Limit and the GSE has paid any Second Position Losses to Treasury.

  • If one or more payments are received or other amounts are received or recovered with respect to any New Issue Bond or Temporary Credit and Liquidity Facility in respect of a Transaction Loss, then all such amounts will be paid to Treasury and the related Transaction Loss and, consequently, the aggregate Program Losses will be reduced by the amount of such Recovery.

  • This Paragraph applies if a GSE has calculated that a Transaction Loss has been realized with respect to one or more Eligible Bonds or Temporary Credit and Liquidity Facilities but the amount of the aggregate Program Losses has not exceeded the First Loss Limit.


More Definitions of Program Losses

Program Losses means liabilities and obligations to make payments to policyholders, beneficiaries and third party claimants under the Program and all loss adjustment expenses and defense costs, including (i) all expenses incurred by or on behalf of the Companies in the investigation, appraisal, adjustment, litigation, defense or appeal of claims under the Program and/or coverage actions under the Program, (ii) all liabilities for consequential, exemplary, punitive or similar extracontractual damages, or for statutory or regulatory fines or penalties, or for any loss in excess of the limits of any Program, whether owing to the policyholders or insureds under the Program, and (iii) court costs accrued prior to final judgment, prejudgment interest or delayed damages and interest accrued after final judgment.
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Program Losses shall have the meaning given in Schedule 4.5 (Program Gain Share Payment).
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Program Losses is defined in Section 2.2.12. “Project” is defined in the Recitals to this Agreement. “Project Assets” is defined in Section 3.1.
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Program Losses means liabilities and obligations to make payments to policyholders, beneficiaries and third party claimants under the Program and all loss adjustment expenses and defense costs, including (i) all expenses incurred by or on behalf of the Companies in the investigation, appraisal, adjustment, litigation, defense or appeal of claims under the Program and/or coverage actions under the Program, (ii) all liabilities for consequential, exemplary, punitive or similar extracontractual damages, or for statutory or regulatory fines or penalties, or for any loss in excess of the limits of any
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Program Losses is defined in Section 2.2.8.
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Related to Program Losses

  • Loss or Losses means all losses, damages, liabilities, deficiencies, claims, actions, judgments, settlements, interest, awards, penalties, fines, costs or expenses of whatever kind, including reasonable attorneys' fees and the costs of enforcing any right to indemnification hereunder and the cost of pursuing any insurance providers.

  • Purchaser Losses shall have the meaning set forth in Section 9.1(a).

  • Direct Losses means all damages, losses, liabilities, penalties, fines, assessments, claims, actions, costs, expenses (including the cost of legal or professional services, legal costs being on a substantial indemnity basis), proceedings, demands and charges whether arising under statute, contract or at common law, except Indirect Losses.

  • Fraud Losses Realized Losses on Mortgage Loans as to which a loss is sustained by reason of a default arising from fraud, dishonesty or misrepresentation in connection with the related Mortgage Loan, including a loss by reason of the denial of coverage under any related Primary Insurance Policy because of such fraud, dishonesty or misrepresentation.

  • distribution losses means energy losses that result from the interaction of intrinsic characteristics of the distribution network such as electrical resistance with network voltages and current flows;