Primary Policy definition

Primary Policy means the policy or guarantee issued by a mortgage guaranty insurance company approved for insurance of mortgage loans sold to either the Federal National Mortgage Association ("Fannie Mae"), or the Federal Home Loan Mortgage Corporation ("Freddie Mac"), which provides the minimum coverage required by Section 5.14 hereof, and under a form of policy approved by Fannie Mae or Freddie Mac and in general use for the mortgage loans sold to Fannie Mae or Freddie Mac, as applicable. Upon the Company's request, from time to time, the Insured shall provide to the Company a copy of the form of each Primary Policy under which it obtains coverage. 1.32

Primary Policy means the Primary Policy specified in the Schedule.

Primary Policy any insurance policy issued by an Insurance Subsidiary.

Examples of Primary Policy in a sentence

• With respect to any Claim, situation that could give rise to a Claim, or other matter as to which insurance may be sought under this Policy, the Policyholder or any Insured must give the Insurer written notice contemporaneously with and in the identical manner required by the applicable Primary Policy.

• The insurance afforded under this Policy shall apply only after all applicable Underlying Insurance with respect to an Insurance Product has been exhausted by actual payment under such Underlying Insurance, and shall only pay excess of any retention or deductible amounts provided in the Primary Policy and other exhausted Underlying Insurance.

• The amount stated in Item 3.a. in the Declarations shall be the maximum limit of the Insurer's liability for each Claim under the applicable Primary Policy, and shall be the maximum amount payable by the Insurer under this Policy for a single Claim, which amount shall be part of, and not in addition to, the amount stated in Item 3.b. in the Declarations.

• Except as specifically set forth in the provisions of this Policy, the insurance afforded hereunder shall apply in conformance with the provisions of the applicable Primary Policy and, to the extent coverage is further limited or restricted thereby, to any other applicable Underlying Insurance.

• Should any alteration be made in the premium for the Primary Policy during the currency of this policy, the Insured shall give notice within thirty (30) days thereof to the Insurers who shall have the right to amend the Premium hereon accordingly.

More Definitions of Primary Policy

Primary Policy means the specific policy identified as the "Primary Policy" under the applicable Insurance Product listed in Endorsement No. 1 to this Policy.

Primary Policy means the policy scheduled as such in ITEM 4 of the Declarations.

Primary Policy means the policy identified in Item 4.(A) of the Declarations.

Primary Policy means the policy identified at Item 5(a) of the Schedule or any policy(ies) issued in substitution thereof.

Primary Policy means the policy identified in Item 4 of the Declarations.

Primary Policy. Means the primary layer Certificate of Insurance of $2,000,000 issued to the Insured (for the Period of Insurance stated in this Policy Schedule), by Legal Practitioners Liability Committee established under the Legal Profession Act 2004 (Vic).

Primary Policy contain a provision confirming that the policy is primary without right of contribution, and the liability of the insurers will not be affected by any other insurance of which any Additional Insured may have the benefit so as to reduce the amount payable to the additional insureds under such policies;