Insurance Coverage in the Event of Separation of Ownership and Transfer of Benefits and Risks Sample Clauses

Insurance Coverage in the Event of Separation of Ownership and Transfer of Benefits and Risks. In the case of a land purchase contract, the buyer is registered as the new owner upon registration with the land registry office. Irrespective of this transfer of ownership under property law, the parties regulate when the benefits and risks are transferred to the buyer in the contract (economic right of disposal and liability, e.g. at the time the new owner moves into the house). If the transfer of benefit and risk only takes place after the transfer of ownership under property law, the seller runs the risk that the new owner refuses to transfer the existing insurance for the property and – until the transfer of benefit and risk to the buyer – does not take out a new corresponding insurance. If an accident (e.g. water damage) occurs during this period, the seller is liable because he or she still bears the benefits and risks but has no insurance to cover the damage. Only the property owner can take out the appropriate insurance for the property. The seller can exclude or minimize the risk by the following legal safeguards in the contract: “If the buyer refuses the transfer of insurance, a commitment is made towards the seller to insure the contractual object at least to the same extent as before, at the latest from the time of transfer of ownership until the transfer of benefit and risk.” -MLaw Xxxxx Xxxx, Attorney at Law and Notary “ILIAS” MURDER CASE On Monday, 10th August 2020, the trial of Xxxxx X., who killed the seven-year-old Xxxxx in Basel in March 2019 and is now accused of murder, begins. Our criminal law expert, Xxxxx Xxxxxx, represents the victim’s family. Accompanied by Xx. Xxxxxx, the family granted Blick an interview: xxx.xxxxx.xx/xxxx/xxxxxxx/xxxxx-f-75-erstach-in-basel-grundlos-den-kleinen-ilias-7-vor-dem-prozess-sprechen-seine-eltern-i m-blick-wir-beteten-vor-dem-op-saal-dass-er-ueberlebt-id16029158.html Article originally published on 6th August 2020 on the media platform xxx.xxxxx.xx. COMPENSATION FOR THE EFFECT OF DAMAGE ON THE MARKET VALUE OF REAL ESTATE
Sample 1
AutoNDA by SimpleDocs

Related to Insurance Coverage in the Event of Separation of Ownership and Transfer of Benefits and Risks

  • Limitation of Liability No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company or by creditors of the Company.

  • Termination This Agreement may be terminated at any time prior to the Closing:

  • Insurance The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged, including, but not limited to, directors and officers insurance coverage. Neither the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without a significant increase in cost.

  • Miscellaneous The Vendor acknowledges and agrees that continued participation in TIPS is subject to TIPS sole discretion and that any Vendor may be removed from the participation in the Program at any time with or without cause. Nothing in the Agreement or in any other communication between TIPS and the Vendor may be construed as a guarantee that TIPS or TIPS Members will submit any orders at any time. TIPS reserves the right to request additional proposals for items or services already on Agreement at any time.

  • Definitions For purposes of this Agreement:

  • Confidentiality (a) Subject to Section 7.15(c), during the Term and for a period of three

  • Survival The representations and warranties contained herein shall survive the Closing and the delivery of the Securities.

  • Dimensions Education Bachelor’s Degree in Computer Science, Information Systems, or other related field. Or equivalent work experience. Experience: A minimum of 4 years of IT work experience in data modeling, data analysis, relational DBMS design and support and relevant computing environments.

  • Assignment This Agreement and all rights and obligations hereunder may not be assigned without the written consent of the other party.

  • Governing Law This Agreement shall be governed by and construed in accordance with the laws of the State of New York.

Time is Money Join Law Insider Premium to draft better contracts faster.