PRESUMPTIVE INDEMNIFICATION. If the Insured Organisation is permitted or required to indemnify the Insured Person for any Loss pursuant to the memorandum or articles of association, certificate or articles of incorporation, by-laws or constitution of the Insured Organisation in effect at the inception of coverage hereunder, or any subsequently amended, restated or superseding memorandum or articles of association, certificate or articles of incorporation, by-laws or constitution which broaden the Insured Organisation's ability to indemnify the Insured Person and fails or refuses to indemnify the Insured Person for Loss other than for reason of Financial Impairment, then, notwithstanding any other conditions, provisions or terms of this Policy to the contrary, any payment by the Company of such Loss shall be subject to:
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Samples: content.sbigeneral.in, content.sbigeneral.in, Officers Liability Insurance
