Common use of Commentary Clause in Contracts

Commentary. If a firm is eligible to be issued with an ARP policy under Rule 13.1, or an ARP run-off policy under Rule 13.4 then, provided that it complies with the relevant requirements under Rule 13 and is issued with an ARP policy or an ARP run-off policy, the firm and the principals of that firm will be required to pay to the ARP manager only the relevant premium and the excess in the event of any claim.

Commentary. If a firm is eligible to be issued with an ARP policy under Rule 13.1, or an ARP run-off policy under Rule 13.4 then, provided that it complies with the relevant requirements under Rule 13 and is issued with an ARP policy or an ARP run-off policy, the firm and the principals of that firm will be required to pay to the ARP manager only the relevant premium and the excess in the event of any claim.. Rule 15 Rule 13 Firms which fail to apply to the ARP

Commentary. If a firm is eligible to be issued with an ARP policy under Rule 13.113.1,14.1, or an ARP run-off policy under Rule 13.4 13.414.4 then, provided that it complies with the relevant requirements under Rule 13 1314 and is issued with an ARP policy or an ARP run-off policy, the firm and the principals of that firm will be required to pay to the ARP manager only the relevant premium and the excess in the event of any claim.