Cross-Liability. All required liability policies shall provide cross-liability coverage as would be achieve under the standard ISO separation of insureds clause.
Cross-Liability. THE NAMING OF MORE THAN ONE PERSON, FIRM, OR CORPORATION AS INSUREDS UNDER THE POLICY SHALL NOT, FOR THAT REASON ALONE, EXTINGUISH ANY RIGHTS OF THE INSURED AGAINST ANOTHER, BUT THIS ENDORSEMENT, AND THE NAMING OF MULTIPLE INSUREDS, SHALL NOT INCREASE THE TOTAL LIABILITY OF THE COMPANY UNDER THIS POLICY.
Cross-Liability. All insurance provided by Contractor under this Contract must be primary as to any other insurance or self-insurance programs afforded to or maintained by the State, and all insurance policies, except for the professional liability policy and workers compensation coverage, must include a severability of interests (cross-liability) provision.
Cross-Liability. Every policy of public and products liability insurance must include a cross liability clause in which the insurer expressly accepts that the term insured applies to every person who is named in the policy as if there was a separate policy of insurance for each of them but not so as to increase the limit of liability.
Cross-Liability a) The Borrower further agrees that the security created shall also be security for (a) all other monies that may be due and payable by the Borrower to Fincare, on any account whatsoever, whether present or future, including any liability of the Borrower as a surety or co-obligator either singly or along with any other person and /or (b) Loan granted / continued to the group companies/ associate of the Borrower as declared from time to time.
b) The Borrower agrees with, and undertakes that Fincare, shall have an exclusive first ranking charge over the Property and any additional security created and that the Borrower shall not create any other encumbrance, charge or security interest in the Property or any additional security so created in favour of any other person or body, except with the prior written consent of Fincare. The said charge over the Property created by the Borrower under this Agreement shall continue and remain in force till such time the Borrower’s Dues under this Agreement and in respect of all other loan/facility obtained /to be obtained by the Borrower from Fincare, and group companies are fully discharged and Fincare / group companies issue a certificate of discharge of the Loan. The security created under this Agreement and the liability of the Borrower shall not be affected, impaired or discharged by winding up (voluntary or otherwise) or by any merger or amalgamation, reconstruction, takeover of the management, dissolution or nationalization (as the case may be) of the Borrower. The Borrower covenants that the security provided by the Borrower shall remain valid for the balance amount of the Loan due to Fincare, or any other financial benefits obtained by the Borrower from any of the group companies.
Cross-Liability. The Liability policy shall include a cross-liability or severability of interest endorsement.
Cross-Liability. 7.1 The Borrower expressly accepts that if the Borrower fails to pay any monies when due or which may be declared due prior to the date when it would otherwise have become due or commits any other default under any agreement (including this agreement) with the Bank under which the Borrower is enjoying any financial/credit/other facility; then in such event the Bank shall, without prejudice to any of its specific rights under each of the agreements, be absolutely entitled to exercise all or any of its rights under any of the Borrower’s agreement (including this agreement) with the Bank at the sole discretion of the Bank.
7.2 The Borrower/Co-borrower acknowledges and accepts that any default in discharging his liabilities under any other agreements entered into/to be entered into with the Bank or with any of the Citigroup Companies shall be deemed to be default under this agreement and vice versa entitling the Bank to recall this loan facility and/or all other loan/facility advanced to the Borrower the Bank shall in the event of such default, be entitled to exercise in its discretion any or all its rights under this agreement and/or other agreements entered into by the Borrower/Co- borrower with the Bank. Further, it is clarified that in the event of default in repayment of the Loan or any other financial facility by the Borrower, the Bank shall be entitled to create a charge over any other security provided by the Borrower in relation to any other loan facilities availed from the Bank.
7.3 The term ‘Citigroup Companies’ appearing in this clause and elsewhere in this agreement shall mean and include any branch of Citibank N.A., and any other associate company/entity of Citibank N.A., and Citicorp Finance (India) Ltd, present or future carrying on operations/business in India.
Cross-Liability. Where You are comprised of more than one person or entity, each shall be considered as a separate legal entity. The words You and Your shall apply to each person or entity as if a separate policy had been issued to each. This Condition does not increase the Limit of Liability under this Policy in respect of any Occurrence
Cross-Liability. 16.1 The Borrower(s) and/ or the Co-Borrower(s) agree and confirm that VWFPL may at its absolute discretion appropriate any payments made by the Borrower(s) and/ or the Co-Borrower(s) under or pursuant to this Agreement towards any other agreement or transaction entered into by the Borrower(s) and/or the Co-Borrower(s) and/or towards any other indebtedness and such appropriation shall be final and binding upon the Borrower(s) and/or the Co-Borrower(s) who shall continue to so remain liable to the VWFPL for payment of dues under this Agreement in respect of which such sums of money were so paid but were appropriated towards another Agreement or transaction entered into by the Borrower(s) and/or the Co- Borrower(s) or towards another indebtedness.
16.2 In addition, notwithstanding the repayment of the Loan balance, the Borrower(s) and/or the Co-Borrower(s) hereby expressly and irrevocably authorize VWFPL to take possession of / sell / transfer or otherwise dispose of any and all security created in favour of VWFPL under this Agreement or any other agreement entered into and between the Borrower(s) and/or the Co- Borrower(s) VWFPL or any other security documents or deposit with VWFPL or under the possession or control of VWFPL and appropriate the same towards satisfaction of amounts due to VWFPL on account of another Agreement or transaction entered into by the Borrower(s) and/or the Co- Borrower(s) or on account of the indebtedness of the Borrower(s) and/or the Co-Borrower(s). The provisions of this Agreement and any security document executed pursuant to this Agreement shall apply mutatis mutandis to the manner of disposal of security and appropriation under this Article.
16.3 It is clarified that the right of set-off and cross-liability can be used for adjusting the amount of one of the Borrower(s) or Co-Borrower(s) against any other.
Cross-Liability. If the Contractor’s liability policies do not contain the standard ISO separation of insureds provision, or an equivalent clause, such policies shall be endorsed to provide cross-liability coverage.
