TERMINATION OF INSURANCE/AGREEMENT Sample Clauses

TERMINATION OF INSURANCE/AGREEMENT. Article 19. If the contracting party fails to pay the premium by the due date nor does any other interested party does that, the insurance contract expires after the expiration of the thirtieth day from the day when the contracting party received the registered letter from the insurer with a notice on the maturity of the premium, but that deadline cannot expire before the expiration of 30 days from the date of maturity of the premium. In any case, the insurance contract ceases according to law if the premium is not paid within one year from the due date. In case the Policyholder or the Insured made a false claim or withheld a circumstance that was of such nature that the Insurer would not have concluded the Agreement under the same terms and conditions had it known about the actual state of affairs, the Insurer may request the annulment of the Agreement.
Sample 1Sample 2Sample 3
AutoNDA by SimpleDocs
TERMINATION OF INSURANCE/AGREEMENT. 10.1. The following may serve as a ground for termination/annulment of the insurance provided for under the Insurance Agreement:
Sample 1
TERMINATION OF INSURANCE/AGREEMENT. The following may serve as a ground for termination of the insurance provided for under the given Terms and Conditions: complete fulfillment of obligations undertaken by the Insurer according to the corresponding Insurance Policy; default of another party; expiration of the term provided for under the Policy; if the subject of insurance does not exist anymore, except the results provoked by the insur- ance risk (this shall be applied to with respect to the particular Insurance Policy); if the Insured stops his/her activity according to the procedure established by law; if the limit of insurance indemnification determined by the sum insured has expired (this shall be applied to with respect to the particular Insurance Policy); if the increase of the insurance risk is caused by the negligent or intentional act of the Insured, its representative or any person acting on behalf of the Insured; preliminary written agreement of the parties; other cases provided under the law of Georgia.
Sample 1Sample 2
TERMINATION OF INSURANCE/AGREEMENT. Article 19. The insurer may not terminate the contract on voluntary health insur- ance before the expiration of the term for which the contract was con- cluded. Notwithstanding paragraph 1 of this Article, the insurer may terminate the contract on voluntary health insurance before the expiration of the term for which the contract was concluded in the case of:
Sample 1
TERMINATION OF INSURANCE/AGREEMENT. XxxxXxxxxx.xxx, CD1 and Bank One ---------------------------------- agree that as of the Closing, the Insurance Agreement (including any amendments thereto and derivatives therefrom, other than the Continuing Agreements) shall be terminated and thereafter shall be deemed null and void.
Sample 1
TERMINATION OF INSURANCE/AGREEMENT. The Insurance Agreement shall terminate on the earlier of (i) the Employee's providing of written notice of termination to the Employer or (ii) December 10, 2011 (the "Termination Date"). The Employer shall not have any right to terminate the Insurance Agreement unilaterally. On the Termination Date, the parties shall implement the following termination procedures:
Sample 1

Related to TERMINATION OF INSURANCE/AGREEMENT

  • Cancellation of Insurance There will be no cancellation or reduction of coverage of any required insurance without thirty (30) days’ written notice to the Contractor. Such notice may be sent by the Subcontractor’s insurance carrier, insurance broker, or the Subcontractor. Waiver of Subrogation. Subcontractor waives all rights against Contractor, Client, other subcontractors, and their agents.

  • Continuation of Insurance All policies of insurance shall provide for at least 30 days prior written cancellation notice to the Secured Party. In the event of failure by the Debtor to provide and maintain insurance as herein provided, the Secured Party may, at its option, provide such insurance and charge the amount thereof to the Debtor. The Debtor shall furnish the Secured Party with certificates of insurance and policies evidencing compliance with the foregoing insurance provision.

  • Assignment of Insurance As additional security for the payment and performance of the Obligations, the Borrower hereby assigns to the Lender any and all monies (including, without limitation, proceeds of insurance and refunds of unearned premiums) due or to become due under, and all other rights of the Borrower with respect to, any and all policies of insurance now or at any time hereafter covering the Collateral or any evidence thereof or any business records or valuable papers pertaining thereto, and the Borrower hereby directs the issuer of any such policy to pay all such monies directly to the Lender. At any time, whether or not a Default Period then exists, the Lender may (but need not), in the Lender's name or in the Borrower's name, execute and deliver proof of claim, receive all such monies, endorse checks and other instruments representing payment of such monies, and adjust, litigate, compromise or release any claim against the issuer of any such policy.

  • Modification of insurance requirements The Security Trustee shall notify the Borrower of any proposed modification under Clause 13.18 to the requirements of this Clause 13 which the Majority Lenders consider appropriate in the circumstances, and such modification shall take effect on and from the date it is notified in writing to the Borrower as an amendment to this Clause 13 and shall bind the Borrower accordingly.

  • Insurance Agreement The Trustee is authorized and directed to execute and deliver the Insurance Agreement and to perform the obligations of the Trustee thereunder.

  • Allocation of Insurance Proceeds Except as otherwise provided in Section 11.3, Insurance Proceeds received with respect to suits, occurrences, claims, costs and expenses covered under the Shared Policies shall be paid to Tyco with respect to Tyco Retained Liabilities, to Healthcare with respect to Healthcare Liabilities, and to Electronics with respect to Electronics Liabilities. In the event that the aggregate limits on any Shared Policies are exhausted by the payment of Insured Claims by the relevant Parties, such Parties agree to allocate the Insurance Proceeds received thereunder based upon their respective percentage of the total insured claim or claims which were covered under such Shared Policy (their “allocable portion of Insurance Proceeds”), and any Party who has received Insurance Proceeds in excess of such Party’s allocable portion of Insurance Proceeds shall pay to the other Party or Parties the appropriate amount so that each Party will have received its allocable portion of Insurance Proceeds. Each of the Parties agrees to use best efforts to maximize available coverage under those Shared Policies applicable to it for the benefit of all Parties, and to take all commercially reasonable steps to recover from all other responsible parties (except the Parties) in respect of an Insured Claim to the extent coverage limits under a Shared Policy have been exceeded or would be exceeded as a result of such Insured Claim.

  • Evidence of Insurance Receipt by the Administrative Agent of copies of insurance policies or certificates of insurance of the Loan Parties evidencing liability and casualty insurance meeting the requirements set forth in the Loan Documents, including, but not limited to, naming the Administrative Agent as additional insured (in the case of liability insurance) or loss payee (in the case of hazard insurance) on behalf of the Lenders.

  • Termination of Agreement If this Agreement is terminated by the Representatives in accordance with the provisions of Section 5 or Section 9(a)(i) hereof, the Company shall reimburse the Underwriters for all of their out-of-pocket expenses, including the reasonable fees and disbursements of counsel for the Underwriters.

  • Form of Insurance The form of the insurance shall be approved by the Director and the City Attorney; such approval (or lack thereof) shall never (a) excuse non-compliance with the terms of this Section, or (b) waive or estop the City from asserting its rights to terminate this Contract. The policy issuer shall (1) have a Certificate of Authority to transact insurance business in Texas, or (2) be an eligible non-admitted insurer in the State of Texas and have a Best's rating of at least B+, and a Best's Financial Size Category of Class VI or better, according to the most current Best's Key Rating Guide.

  • Application of Insurance Proceeds Grantor shall promptly notify Lender of any loss or damage to the Collateral. Lender may make proof of loss if Grantor fails to do so within fifteen (15) days of the casualty. All proceeds of any insurance on the Collateral, including accrued proceeds thereon, shall be held by Lender as part of the Collateral. If Lender consents to repair or replacement of the damaged or destroyed Collateral, Lender shall, upon satisfactory proof of expenditure, pay or reimburse Grantor from the proceeds for the reasonable cost of repair or restoration. If Lender does not consent to repair or replacement of the Collateral, Lender shall retain a sufficient amount of the proceeds to pay all of the Indebtedness, and shall pay the balance to Grantor. Any proceeds which have not been disbursed within six (6) months after their receipt and which Grantor has not committed to the repair or restoration of the Collateral shall be used to prepay the Indebtedness.

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