Commencement and duration of insurance Sample Clauses

Commencement and duration of insurance. Unless expressly provided for elsewhere in this Agreement, on or prior to the date of this Agreement, each Participant must take out and maintain, or cause to be effected and maintained, for the period for which a claim could be made, the insurances allocated to it in this clause 22.
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Commencement and duration of insurance. The insurance cover applies to the activated device. The insurance cover starts 30 days after the Metal card has been issued by Neon and ends on termination of the Neon Metal card contract (termination by Neon or the insured person) or on expiry of the card. If the collective insurance agreement is terminated, insurance cover for the insured persons will also end. In this case, the insured persons will be informed by Neon accordingly in advance.
Commencement and duration of insurance. The insurance coverage starts upon purchase and is subject to the waiting period. The waiting period is 30 days. The insurance coverage remains valid as long as the insurance is not cancelled by notifying Neon Switzerland AG. Insurance coverage is only in place for devices that did not have any previous damage when the insurance was taken out, and provided that the corresponding insurance premium had been paid when an insured event occurred. The insurance coverage ends when cancelled. The insurance has a minimum term of six months and, after expiry of this term, may be terminated by giving notice in the Neon app to take effect at the end of the respective month.

Related to Commencement and duration of insurance

  • Application of Insurance Proceeds Grantor shall promptly notify Lender of any loss or damage to the Collateral. Lender may make proof of loss if Grantor fails to do so within fifteen (15) days of the casualty. All proceeds of any insurance on the Collateral, including accrued proceeds thereon, shall be held by Lender as part of the Collateral. If Lender consents to repair or replacement of the damaged or destroyed Collateral, Lender shall, upon satisfactory proof of expenditure, pay or reimburse Grantor from the proceeds for the reasonable cost of repair or restoration. If Lender does not consent to repair or replacement of the Collateral, Lender shall retain a sufficient amount of the proceeds to pay all of the Indebtedness, and shall pay the balance to Grantor. Any proceeds which have not been disbursed within six (6) months after their receipt and which Grantor has not committed to the repair or restoration of the Collateral shall be used to prepay the Indebtedness.

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