CLASS OF BUSINESS COVERED Sample Clauses

CLASS OF BUSINESS COVERED. This Agreement shall indemnify the Reinsured, as set forth in the Limit and Retention Article, in respect of the liability which may accrue to the Reinsured under all policies, bonds, binders, certificates, contracts of insurance or reinsurance, co-insurance or co-indemnity, or other evidences of liability (hereinafter referred to as “Policy(ies)” and/or “bond(s)”), whether oral or written, issued by or contracted for by the Reinsured in respect of all business as specified in the Particular Conditions under, “Class of Business”, subject to the exclusions stated in the Exclusions Article.
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CLASS OF BUSINESS COVERED. (a) This Agreement shall apply only to eligible insurance contracts which incept during the Reinsurance Period. (b) In the event that it is determined that the Reinsured incurs a liability under a contract of insurance solely because of section 8 of the Terrorism Insurance Act 2003 (Cth) the Reinsured will be entitled to cover under this Agreement in respect of that liability provided that it pays the relevant premium and otherwise agrees to comply with the terms of this Agreement. For the avoidance of doubt, this subsection (b) applies where it was not obvious or apparent that the said contract of insurance was an eligible insurance contract. There have been no changes to this clause.
Sample 1

Related to CLASS OF BUSINESS COVERED

  • BUSINESS COVERED A. By this contract (the "Contract") the Company cedes to the Reinsurer and the Reinsurer hereby accepts, assumes liability for, and reinsures the Company's 100% share in the interests and liabilities arising out of directly or indirectly, in whole or in part or in connection with the Aggregate Excess of Loss Credit Insurance Policy (policy number ), effective January 1, 2020 (hereinafter referred to as the "Policy") issued to Federal National Mortgage Association (hereinafter referred to as the "Insured"). This reinsurance is a 100% cession of all of the Company's liability under the Policy. The reinsurance shall inure to the benefit of the Insured, subject to and in accordance with the terms, provisions, conditions and stipulations of the Policy and the provisions of this Contract. As set forth in this Contract, the Insured shall have the right to bring an action against the Reinsurer to recover the loss sustained by the Insured for which the Reinsurer is liable hereunder. B. A copy of the Policy and the Required Collateral Percentage matrix are attached to, form part of, and are incorporated into this Contract as Exhibit A and Schedule 1, respectively. The Assumption of Liability Endorsement and the Reinsurance Trust Agreement are attached to each Subscribing Reinsurer's Interests and Liabilities Agreement, and form part of and are incorporated into this Contract as Exhibit B and Exhibit C, respectively, for each Subscribing Reinsurer. C. Nothing herein shall be construed as prejudicing the rights of the Insured under the Policy in any manner. D. The Reinsurer's liability shall attach simultaneously with that of the Company under the Policy, and all cessions to the Reinsurer by virtue of this Contract shall be subject in all respects to the same risks, terms, conditions, interpretations, assessments, waivers, modifications, alterations and cancellations as in the Policy of the Company to which the cessions relate, the true intent of this Contract being that the Reinsurer shall, in every case to which this Contract applies, follow the fortunes of the Company under the Policy. E. The Reinsurer acknowledges that: 1. Except as expressly permitted by the Policy, the obligation of the Company to make payment under the Policy is unconditional, irrevocable and non-cancellable by the Company for any reason; and 2. Except as to those rights expressly retained in the Policy, the Company has waived, and agreed not to assert, any and all rights (whether by counterclaim, set-off or otherwise) and defenses (including any defense of fraud or any defense based on misrepresentation, breach of warranty, or non-disclosure of information by any person) whether acquired by subrogation, assignment or otherwise to the extent such rights and defenses may be available to the Company to avoid payment of its obligations under the Policy in accordance with the express provisions of the Policy. F. If and to the extent there is any conflict between this Contract and the Policy, the Policy shall govern and control, unless (and only to the extent) a particular portion of this Contract expressly states that it controls in the event of a conflict with the Policy. G. A Subscribing Reinsurer shall provide the Company and the Insured with written notice at least thirty (30) days in advance of the date upon which the aggregate of all amounts retroceded to one or more unaffiliated entities in the aggregate exceeds more than fifty percent (50.0%) of the liabilities assumed by such Subscribing Reinsurer under this Contract.

  • Class Coverage Teachers, including but not limited to classroom teachers, special area teachers, and clinicians, shall not be required to take another teacher’s classes except in an emergency. Examples of an emergency are the following: a sudden illness of a teacher during the school day, or awaiting the arrival of an obtained substitute, and other situations mutually accepted by the teacher and the principal.

  • Materials of Environmental Concern have not been transported or disposed of from the Properties in violation of, or in a manner or to a location that could give rise to liability under, any Environmental Law, nor have any Materials of Environmental Concern been generated, treated, stored or disposed of at, on or under any of the Properties in violation of, or in a manner that could give rise to liability under, any applicable Environmental Law;

  • Securities Act Liabilities Any provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to the terms of this Agreement to indemnify Indemnitee or otherwise act in violation of any undertaking appearing in and required by the rules and regulations promulgated under the Securities Act of 1933, as amended (the “Act”), or in any registration statement filed with the SEC under the Act. Indemnitee acknowledges that paragraph (h) of Item 512 of Regulation S-K currently generally requires the Company to undertake in connection with any registration statement filed under the Act to submit the issue of the enforceability of Indemnitee’s rights under this Agreement in connection with any liability under the Act on public policy grounds to a court of appropriate jurisdiction and to be governed by any final adjudication of such issue. Indemnitee specifically agrees that any such undertaking shall supersede the provisions of this Agreement and to be bound by any such undertaking.

  • Excess Public Liability Insurance over and above the Employers’ Liability Commercial General Liability and Comprehensive Automobile Liability Insurance coverage, with a minimum combined single limit of Twenty Million Dollars ($20,000,000) per occurrence/Twenty Million Dollars ($20,000,000) aggregate.

  • Exceptions from Liability Without limiting the generality of any other provisions hereof, neither the Custodian nor any Domestic Subcustodian shall be under any duty or obligation to inquire into, nor be liable for:

  • Loss of Shared-Loss Coverage on Shared-Loss Loans The Receiver shall be relieved of its obligations with respect to a Shared-Loss Loan upon payment of a Foreclosure Loss amount, or a Short Sale Loss amount with respect to such Single Family Shared-Loss Loan, or upon the sale without FDIC consent of a Single Family Shared-Loss Loan by Assuming Institution to a person or entity that is not an Affiliate. The Assuming Institution shall provide the Receiver with timely notice of any such sale. Failure to administer any Shared-Loss Loan or Loans in accordance with Article III shall at the discretion of the Receiver constitute grounds for the loss of shared loss coverage with respect to such Shared-Loss Loan or Loans. Notwithstanding the foregoing, a sale of the Single Family Shared-Loss Loan, for purposes of this Section 2.7, shall not be deemed to have occurred as the result of (i) any change in the ownership or control of Assuming Institution or the transfer of any or all of the Single Family Shared-Loss Loan(s) to any Affiliate of Assuming Institution, (ii) a merger by Assuming Institution with or into any other entity, or (iii) a sale by Assuming Institution of all or substantially all of its assets.

  • ’ Compensation and Employer’s Liability Coverage The Grantee shall provide workers’ compensation, in accordance with Chapter 440, F.S. and employer liability coverage with minimum limits of $100,000 per accident, $100,000 per person, and $500,000 policy aggregate. Such policies shall cover all employees engaged in any work under the Grant.

  • Products and Completed Operations Personal Injury Liability Contractual Liability The policy shall be on an occurrence form and limits shall not be less than: $1,000,000 Each Occurrence $2,000,000 General Aggregate $1,000,000 Products/Completed Operations Aggregate $1,000,000 Personal & Advertising Injury

  • Public Liability In the event of a claim brought against the contractor / consultant for 3rd party property damage the contractor / consultant will be responsible for a deductible (excess) of R525 000 • In the event of a claim brought against the contractor / consultant for removal of lateral support, the contractor / consultant will be responsible for a deductible (excess) of R750 000 • In the event of a claim brought against the contractor / consultant for damage to aircraft, the contractor / consultant will be responsible for a deductible (excess) of R750 000 • Contractors / consultants may re-insure the deductibles

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