Ringfencing. The level of any indemnity available to an insured party under this policy in relation to any claim(s) concerning the Project shall not be affected and/or reduced by any claim(s) unrelated to the Project.
Ringfencing. The level of any indemnity available to an insured party under this policy in relation to any claim(s) concerning the Project shall not be affected and/or reduced by any claim(s) unrelated to the Project. SCHEDULE 14 INSURANCES Part 4 Xxxxxx's Letter of Undertaking Any one of the following three broker’s letters of undertaking should be used. Xxxxxx’s Letter of Undertaking [A] To: [ ] Council Dear Sirs Agreement dated on or about [ ] entered into between [ ] (the "Contractor") and [ ] Council (the "Authority") (the "Agreement") We refer to the Agreement. Unless the context otherwise requires, terms defined in the Agreement shall have the same meaning in this letter. We act as insurance broker to the Contractor in respect of the Required Insurances and in that capacity we confirm that the Required Insurances which are required to be procured pursuant to clause 65 and schedule 14 of the Agreement: where appropriate name you and such other persons as are required to be named pursuant to the Agreement for their respective interests; are, in our reasonable opinion as insurance brokers, as at today’s date, in full force and effect; all premiums due to date in respect of the Required Insurances are paid and the Required Insurances are, to the best of our knowledge and belief, placed with insurers which, as at the time of placement, are reputable and financially sound. We do not, however, make any representations regarding such insurers’ current or future solvency or ability to pay claims; and that the endorsements set out in Part 3 to Schedule 14 of the Agreement are as at today’s date in full force and effect in respect of the Required Insurances. We further confirm that the attached cover notes confirm this position. Pursuant to instructions received from the Contractor and in consideration of your approving our appointment [or continuing appointment] as brokers in connection with the Required Insurances, we hereby undertake in respect of the interests of the Authority in relation to the Required Insurances: Notification Obligations
Ringfencing. The Buyer agrees and acknowledges that the only Sellers’ Warranties given:
Ringfencing. 1. Ringfencing or ringfenced means the suspension of a sell instruction (repurchase) of your units in a collective investment scheme by the unit trust management company, as per the Collective Investment Scheme legislation.
Ringfencing. The level of any indemnity available to an insured party under this policy in relation to any claim(s) concerning the Project shall not be affected and/or reduced by any claim(s) unrelated to the Project. INSURANCE ARRANGEMENTS Project Co must comply with the provisions of this Section 4 of Schedule Part 15 when placing or renewing the Operational Insurances. Not less than [sixty (60)] Business Days prior to the [first Phase] Completion Date and each subsequent renewal date in respect of each of the Operational Insurances, Project Co must inform the Authority’s Representative of the forthcoming requirement to place or renew an Operational Insurance and its proposals for obtaining competitive quotations from at least ([three (3)] suitable insurers. Project Co must take advice from reputable insurance brokers experienced in arranging insurances for similar risks as to which insurers are most likely to provide quotations that will represent best value for money for the Authority as payer of the premiums for such insurance. In considering which insurers to approach, Project Co must consider whether any of the Shareholders enjoys any special relationship with any insurer and/or is otherwise able to procure the placing of the relevant insurance in any particular manner consistent with the requirements of this Agreement that may result in lower premiums and shall include such insurers in its proposal under this paragraph 2 Within [ten (10)] Business Days of receiving a notice from Project Co pursuant to paragraph 2, the Authority may provide Project Co with details of any other insurers that it wishes Project Co to invite to quote for provision of the relevant Operational Insurance. Not less than [thirty (30)] Business Days prior to the [first Phase] Completion Date and each subsequent renewal date for any of the Operational Insurances, Project Co must forward to the Authority’s Representative quotes from the proposed insurers (together with the principal terms and conditions of the relevant insurance policies), to include any insurer nominated by the Authority pursuant to paragraph 3, including a reasoned recommendation as to which quote Project Co views as offering best value for money for the Authority, taking into account all relevant circumstances. Within [ten (10)] Business Days of receiving a recommendation from Project Co pursuant to paragraph 4, the Authority must notify Project Co in writing which insurer it is to place the relevant Operational Insuranc...
