Limits of Liability and Limit Usage Considerations Sample Clauses

Limits of Liability and Limit Usage Considerations. On all excess policies, it is Xxxxxxx’s preference to write policies with a per claim limit that is equal to the aggregate limit (e.g., $5M per claim/$5M in the aggregate). Excess policies with aggregate limits greater than the per claim limit should be referred to the CUO. Likewise, any policy with a Reinstatement of Limits should be referred to the CUO. Note that certain policies require Reinstatements. Such requests may be authorized in underwriters’ LOA, where appropriate. Primary policies may require an aggregate limit of liability that is greater than the per claim limit (e.g., $1M per claim/$3M in the aggregate). Where there are multiple primary coverages offered in the primary policy, such policies may also contain an overall policy aggregate that is equal to or greater than the largest aggregate coverage part limit or a greater limit. Each underwriter’s LOA, where applicable, governs the underwriter’s authority level with respect to authorized per claim, aggregate, and overall policy aggregate limit authority. Generally, the maximum limit that can be deployed by any Bowhead underwriter is $15M for each loss and $15M in the aggregate. Limit usage is also governed by Xxxxxxx’s various Reinsurance Treaties. Underwriters are expected to know, understand, and follow limit restrictions. Underwriters should be judicious when deploying limits. There are situations where a smaller limit is more beneficial to Bowhead and other situations where a larger limit may be more beneficial. Underwriting, including underwriting managers and the CUO, shall work collaboratively amongst themselves and with other functional areas, such as Claims and Actuary, to determine the optimal limit to premium, depending upon the circumstance. Bowhead limit usage is monitored at regular intervals within products, across divisions, and across Bowhead as a whole.
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Related to Limits of Liability and Limit Usage Considerations

  • 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.

  • Indemnification and Contribution (a) The Company agrees to indemnify and hold harmless each Underwriter, the directors, officers, employees and agents of each Underwriter, each person who controls any Underwriter within the meaning of either the Act or the Exchange Act and each affiliate of each Underwriter against any and all losses, claims, damages or liabilities, joint or several, to which they or any of them may become subject under the Act, the Exchange Act or other Federal or state statutory law or regulation, at common law or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement for the registration of the Securities as originally filed or in any amendment thereof, or in any Preliminary Prospectus, the Statutory Prospectus, the Prospectus, any “roadshow” as defined in Section 433(h) of the Act or any Written Testing-the-Waters Communication or in any amendment thereof or supplement thereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and agrees to reimburse each such indemnified party, as incurred, for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability, action, litigation, investigation or proceeding whatsoever (whether or not such indemnified party is a party thereto), whether threatened or commenced, and in connection with the enforcement of this provision with respect to any of the above as such expenses are incurred; provided, however, that the Company will not be liable in any such case to the extent that any such loss, claim, damage or liability arises out of or is based upon any such untrue statement or alleged untrue statement or omission or alleged omission made therein in reliance upon and in conformity with written information furnished to the Company by or on behalf of any Underwriter through the Representative specifically for inclusion therein, it being understood and agreed that the only such information furnished by any Underwriter consists of the information described in the last sentence of Section 8(b) hereof. This indemnity agreement will be in addition to any liability that the Company may otherwise have.

  • Representations and Warranties of the Company The Company represents and warrants to each Underwriter that:

  • Exclusions The Warrant Agent shall have no responsibility with respect to the validity of this Agreement or with respect to the validity or execution of any Warrant (except its countersignature thereof). The Warrant Agent shall not be responsible for any breach by the Company of any covenant or condition contained in this Agreement or in any Warrant. The Warrant Agent shall not be responsible to make any adjustments required under the provisions of Section 4 hereof or responsible for the manner, method, or amount of any such adjustment or the ascertaining of the existence of facts that would require any such adjustment; nor shall it by any act hereunder be deemed to make any representation or warranty as to the authorization or reservation of any shares of Common Stock to be issued pursuant to this Agreement or any Warrant or as to whether any shares of Common Stock shall, when issued, be valid and fully paid and non-assessable.

  • General Provisions In connection with any Registration Statement and any Prospectus required by this Agreement to permit the sale or resale of Transfer Restricted Securities (including, without limitation, any Registration Statement and the related Prospectus required to permit resales of Initial Securities by Broker-Dealers), each of the Company and the Guarantors shall:

  • Certain Definitions For purposes of this Agreement, the following terms have the meanings indicated:

  • Transactions with Affiliates Directly or indirectly enter into or permit to exist any material transaction with any Affiliate of Borrower, except for transactions that are in the ordinary course of Borrower’s business, upon fair and reasonable terms that are no less favorable to Borrower than would be obtained in an arm’s length transaction with a non-affiliated Person.

  • NEGATIVE COVENANTS Until the Commitments have expired or terminated and the principal of and interest on each Loan and all fees payable hereunder have been paid in full and all Letters of Credit have expired or terminated and all LC Disbursements shall have been reimbursed, the Borrower covenants and agrees with the Lenders that:

  • Definitions As used in this Agreement, the following terms shall have the following meanings:

  • Attorneys’ Fees In the event of any dispute between the parties concerning the terms and provisions of this Warrant, the party prevailing in such dispute shall be entitled to collect from the other party all costs incurred in such dispute, including reasonable attorneys’ fees.

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