Recapture Liability Sample Clauses

Recapture Liability. After the effective date of recapture, the Reinsurer will not be liable for any reinsured policies or portions of such reinsured policies that were eligible for recapture and were overlooked. The acceptance by the Reinsurer of reinsurance premiums after the effective dates of recapture will not constitute or determine liability on the part of the Reinsurer for such reinsurance and the Reinsurer will be liable only for a refund of the premiums so received, without interest.
Sample 1Sample 2Sample 3See All (6)
AutoNDA by SimpleDocs
Recapture Liability. In the event of a termination as described in Section 6.3 above for a default of clause (a), (c), (d), (e), (f), (g), (h), or (i) above, the full amount of the Grant paid as of the date of termination will become a debt to the City and shall be due, owing, and paid by the Grantee to the City within sixty (60) days of Grantee’s receipt of notice from the City of such termination and demand for repayment. Any repayment liability not paid to the City within such 60-day period shall accrue interest from the due date through collection at the maximum non- usurious rate allowable by law. In the event of a termination as described in Section 6.3 for a default of clause (b), the Grantee shall repay the amount of the Grant received by Grantee from the City as of the date of such violation in accordance with the requirements set forth on the certificate attached as Exhibit C hereto. In the event of a termination as described in Section 6.3 for an uncured default, any Grant amounts unpaid will be foregone by Grantee and City shall have no obligation to make payment.
Sample 1
Recapture Liability. In the event of a termination pursuant to Section 9.C or this Section, the full amount of the Funds paid as of the date of termination will become a debt to the City and shall be due, owing, and paid by the Subrecipient to the City within ninety (90) calendar days of Subrecipient’s receipt of notice from the City of such termination and demand for repayment. Any repayment liability not paid to the City within such 90-day period shall accrue interest from the due date through collection at a rate equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum non-usurious rate allowable by law.
Sample 1
Recapture Liability. (a) Following the foreclosure or other exercise of remedies in accordance with the Credit Documents during the Recapture Period with respect to the Santa Xxxxxx Project or the Spring Valley Project, as applicable, and so long as the Cash Grant indemnity agreements entered into by PEG for the benefit of the Restricted Operating Company Subsidiary related to the Santa Xxxxxx Project or the Spring Valley Project, as applicable, as in effect on the Closing Date (each, a “Recapture Liability Indemnity”) remain in full force and effect, if the Lenders (or their designee or agent) Transfer the interests in the Borrowers or Restricted Subsidiaries (or the related Project assets) related to the Santa Xxxxxx Project or Spring Valley Project, as applicable, to any Person (the “Buyer”) then in connection with such Transfer the Lenders may (but shall not be obligated to) obtain from the Buyer for the benefit of such Restricted Operating Company Subsidiary (with copies to the Agents, Lenders, PEG and the collateral agent or other designee or agent under the relevant Project Financing Documents) representations and warranties from the Buyer as well as a legal opinion from the Buyer’s external legal counsel (in the case of such legal opinion, if required under the Project Financing Documents for such Project (as the terms and conditions of such Project Financing Documents are in effect on the date hereof without giving effect to any amendment, waiver or consent thereunder after the date hereof unless a consent or waiver is also obtained in accordance with Section 10.5)) confirming that such Buyer is not a Disqualified Person and permitting reliance thereon by the Lenders and PEG; provided that following such Transfer to the Buyer), PEG may not, in any event, rely on such representations and warranties and legal opinion to bring a claim against the Lenders. (b) To the extent the Lenders elect not to obtain from the Buyer the representations and warranties and legal opinion contemplated in Section 8.2(a), then: (i) In connection with such Transfer following the foreclosure or other exercise of remedies in accordance with the Credit Documents during the Recapture Period with respect to the Santa Xxxxxx Project or Spring Valley Project, subject to Section 8.2(e), the Lenders shall reimburse PEG for fifty percent (50%) of the Recapture Liability actually paid by PEG under the Recapture Liability Indemnity for either or both of the Santa Xxxxxx Project or the Spring Valley Proj...
Sample 1

Related to Recapture Liability

  • Compensation for Damage or Loss 1. When investments made by investors of either Contracting Party suffer loss or damage owing to war or other armed conflict which is not a result of the activities of the Contracting Party to which the investors belong, civil disturbances, revolution, riot or similar events in the territory of the latter Contracting Party, they shall be accorded by the latter Contracting Party, treatment, as regards restitution, indemnification, compensation or any other settlement, not less favourable than that that the latter Contracting Party accords to its own investors or to investors of any third State, whichever is most favourable to the investors concerned. 2. Without prejudice to paragraph 1 of this Article, investors of one Contracting Party who in any of the events referred to in that paragraph suffer damage or loss in the territory of the other Contracting Party resulting from: a) requisitioning of their property or part thereof by its forces or authorities; b) destruction of their property or part thereof by its forces or authorities which was not caused in combat action or was not required by the necessity of the situation, shall be accorded a prompt restitution, and where applicable prompt, adequate and effective compensation for damage or loss sustained during the period of requisitioning or as a result of destruction of their property. Resulting payments shall be made in freely convertible currency without delay. 3. Investor whose investments suffer damage or loss in accordance to paragraph 2. of this Article, shall have the right to prompt review of its case by a judicial or other competent authority of that Contracting Party and of valuation of its investments and payment of compensation in accordance with the principles set out in paragraph 2. of this Article.

  • Vehicle Liability Consultant shall maintain Business Automobile Liability insurance with a limit of $1,000,000 each occurrence on Consultant’s owned, hired and non-owned vehicles assigned to or used in the performance of the Consultant’s work or services under this Agreement. Coverage will be at least as broad as ISO coverage code “1” “any auto” policy form CA 00 01 12 93 or equivalent thereof. To the fullest extent allowed by law, for claims arising out of the performance of this Agreement, the City, its agents, representatives, officers, directors, officials and employees shall be cited as an Additional Insured under ISO Business Auto policy Designated Insured Endorsement form CA 20 48 or equivalent. If any Excess insurance is utilized to fulfill the requirements of this subsection, such Excess insurance shall be “follow form” equal or broader in coverage scope than underlying insurance.

  • Tenant Liability In the event of any sublease or assignment, whether or not with Landlord’s consent, Tenant shall not be released or discharged from any liability, whether past, present or future, under this Lease, including any liability arising from the exercise of any renewal or expansion option, to the extent such exercise is expressly permitted by Landlord. Tenant’s liability shall remain primary, and in the event of default by any subtenant, assignee or successor of Tenant in performance or observance of any of the covenants or conditions of this Lease, Landlord may proceed directly against Tenant without the necessity of exhausting remedies against said subtenant, assignee or successor. After any assignment, Landlord may consent to subsequent assignments or subletting of this Lease, or amendments or modifications of this Lease with assignees of Tenant, without notifying Tenant, or any successor of Tenant, and without obtaining its or their consent thereto, and such action shall not relieve Tenant or any successor of Tenant of liability under this Lease. If Landlord grants consent to such sublease or assignment, Tenant shall pay all reasonable attorneys’ fees and expenses incurred by Landlord with respect to such assignment or sublease. In addition, if Tenant has any options to extend the term of this Lease or to add other space to the Premises, such options shall not be available to any subtenant or assignee, directly or indirectly without Landlord’s express written consent, which may be withheld in Landlord’s sole discretion.

  • Joint Liability 26.1. Notwithstanding anything contained herein or in any agreement between the Issuer and the RTA, the Issuer and the RTA shall be jointly and severally responsible and liable to CDSL, its participants and beneficial owners for compliance with all obligations under this Agreement as also under the Bye Laws and Operating Instructions.

  • Excess/Umbrella Liability Excess/umbrella liability insurance may be included to meet minimum requirements. Umbrella coverage must indicate the existing underlying insurance coverage.

  • Seller’s Liability SELLER’s liability with respect to the Product sold to END USER shall be limited to the warranty provided herein. SELLER shall not be subject to any other obligations or liabilities, whether arising out of breach of contract, warranty, tort (including negligence and strict liability) or other theories of law, with respect to products sold or services rendered by seller, or any undertaking, acts or omissions relating thereto. Without limiting the foregoing, SELLER specifically disclaims any liability for property or personal injury damages, penalties, special or punitive damages, damages for lost profits or revenues, services, down time, shut down or slow down costs, or for any other types of economic loss, and for claims of END USER’s customers or any third party for any such damages. SELLER shall not be liable for and disclaims all consequential, incidental and contingent damages whatsoever.

  • Release from Liability Contractor generally releases from liability and waives all claims against any party providing information about the Contractor at the request of System Agency.

  • Landlord Liability Tenant, its successors, and assigns shall not assert nor seek to enforce any claim for breach of this Lease against any of Landlord’s assets other than Landlord’s interest in the Industrial Center. Tenant agrees to look solely to such interest for the satisfaction of any liability or claim against Landlord under this Lease. In no event whatsoever shall Landlord (which term shall include, without limitation, any general or limited partner, trustees, beneficiaries, officers, directors, or stockholders of Landlord) ever be personally liable for any such liability.

  • Proportionate Liability To avoid doubt, the parties agree that section 35 of the Civil Liability Act 2002 (NSW) applies to any apportionable claim relating to this agreement.

  • Maximum Liability The provisions of this Loan Guaranty are severable, and in any action or proceeding involving any state corporate law, or any state, federal or foreign bankruptcy, insolvency, reorganization or other law affecting the rights of creditors generally, if the obligations of any Loan Guarantor under this Loan Guaranty would otherwise be held or determined to be avoidable, invalid or unenforceable on account of the amount of such Loan Guarantor’s liability under this Loan Guaranty, then, notwithstanding any other provision of this Loan Guaranty to the contrary, the amount of such liability shall, without any further action by the Loan Guarantors or the Lenders, be automatically limited and reduced to the highest amount that is valid and enforceable as determined in such action or proceeding (such highest amount determined hereunder being the relevant Loan Guarantor’s “Maximum Liability”. This Section with respect to the Maximum Liability of each Loan Guarantor is intended solely to preserve the rights of the Lenders to the maximum extent not subject to avoidance under applicable law, and no Loan Guarantor nor any other person or entity shall have any right or claim under this Section with respect to such Maximum Liability, except to the extent necessary so that the obligations of any Loan Guarantor hereunder shall not be rendered voidable under applicable law. Each Loan Guarantor agrees that the Guaranteed Obligations may at any time and from time to time exceed the Maximum Liability of each Loan Guarantor without impairing this Loan Guaranty or affecting the rights and remedies of the Lenders hereunder, provided that, nothing in this sentence shall be construed to increase any Loan Guarantor’s obligations hereunder beyond its Maximum Liability.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!