Common use of Application of Funds at Lloyd’s and Cash Calls Clause in Contracts

Application of Funds at Lloyd’s and Cash Calls. The Managing Agent shall, before applying the Funds at Lloyd’s of that Account Party in the payment of any claims, expenses or outgoings made or incurred in connection with its underwriting business, make a request for funds of the Account Party in its capacity as a member of the Managed Syndicate.

Application of Funds at Lloyd’s and Cash Calls. The Managing Agent shall, before applying the Funds at Lloyd’s 's of that Account Party in the payment of any claims, expenses or outgoings made or incurred in connection with its underwriting business, make a request for funds of the Account Party in its capacity as a member of the Managed Syndicate.