THE INSURED EVENT Sample Clauses

THE INSURED EVENT. 5.1 The Insured Event occurs when the value of the Certificate Owner’s Covered Asset Pool has been reduced to zero by means other than an Excess Withdrawal. The Certificate Owner is not eligible to receive the Coverage Amount until after the Insured Event and provided: — the Certificate is in force; — the Lock-In Date has been established; — the Covered Person (or at least one of the Covered Persons for a joint life Certificate) is alive; and — the Coverage Amount is greater than zero. — All fees due the Company are paid.
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THE INSURED EVENT. The Insured Event occurs when the Covered Asset Value has been reduced to zero by means other than an Excess Withdrawal. The Certificate Owner is not eligible to receive the Coverage Amount until after the Insured Event and provided all of the following conditions exist:
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THE INSURED EVENT. 3.1. If an insured event arises, the insured must give notice without delay to the organizer of the trip that he/she has become aware of an event that prevents him/her from taking the flight, so as to limit the consequences of the annulment.
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THE INSURED EVENT. 3.1. If an insured event arises, the Insured shall notify the Insurer thereof immediately.
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THE INSURED EVENT. In the case of an insured event involving civil liability, the Insured must immediately inform the Insurer of all notices, summonses, demands, letters, citations and in general, of all judicial or extra-judicial documents relating to the liability covered under the insurance that are addressed to the Insured or to the causal agent thereof. Save if there is agreement to the contrary, in the event of any circumstance covered under this policy of insurance, the Insurer shall direct all matters relating to the insured event and act in the name of the policyholder of the insurance or the causal agent of the facts, and it shall deal with any victims or their successors, and indemnify them if pertinent. If no settlement is reached, the Insurer will, through its lawyers and court advocates, defend the policyholder or the causal agent of the facts in any civil action and in such regard the defendant must provide the necessary power of attorney. In regard to any criminal action, the Insurer may take on the defence with the consent of the accused. If a judgement is issued against the Insured, the Insurer shall decide if it is necessary to appeal to the pertinent Higher Court. However, if the Insurer should deem it not to be pertinent to appeal, it shall so inform the Insured who will be free to file an appeal on his/her own account and the Insurer shall be bound to reimburse the Insured for all expenses occasioned up to the agreed economic limit, if the appeal is allowed. The Insurer shall pay any indemnity according as is stated as follows:
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THE INSURED EVENT. In the event of robbery, the Insured must file a complaint on the same day as the commission of the event with the police authorities closest to the crime scene. * In the event of total or partial destruction during a transfer undertaken by a public passenger transport company, the Insured must file a support document provided by the transport company. * In the case of a loss during a transfer undertaken by a public passenger transport company, the Insured must file a certificate stating the facts, issued by the transport company. * In all cases, the Insured must: - Take all possible steps to mitigate the consequences of any insured event. - Inform the Insurer through MONDIAL ASSISTANCE SEGUROS Y REASEGUROS, S.A UNIPERSONAL, in no later than SEVEN days: (upon the expiry of this period of time, a claim may be made for damages caused by failure to give notice). - Fill in a questionnaire that he/she will be given. The Insured must provide all means of evidence that may be required regarding the existence and value of any item insured at the time of the insured event. The Insured must accompany his/her claim notice with the following documents to justify his/her claim: - The insurance Agreement. - The original complaint filed with the police authorities. - A certificate stating the damage or loss issued by the transport company. - Original purchase invoices relating to the stolen, damaged or lost items. - Repair invoice/s or if none, non-repair certificate. - Detailed list with the value of stolen, damaged, or lost items. - The Insured must state the coverage taken out with any other insurance company for the same risks. Insured’s duties should the stolen or lost items be found or recovered. - The Insured must inform the Insurer in writing immediately the Insured becomes aware thereof. - If the Insurer has not yet paid the Insured, he/she must take possession of the items. The Insurer will only cover the cost of any damage and partial losses if they are covered by the policy of insurance. - If the Insurer has already paid the Insured, he/she may chose to either abandon the items when they shall remain in the custody of the Insurer or he/she may keep them and repay any indemnity he/she has received, after the application of any deduction for damage or partial loss. If the Insured does not make any choice with a period of time of 15 days, the Insurer may deem that the Insured has decided to abandon the item/s. PUBLIC TRANSPORT ACCIDENT GUARANTY In this insurance...
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Related to THE INSURED EVENT

  • Insured Casualty In the case of damage by fire or other perils covered by the insurance carried or required to be carried pursuant to Article 11, provided that neither Landlord nor Tenant terminates this Lease as provided herein, Landlord shall as soon as possible commence such repair, reconstruction and restoration of the Premises and shall diligently prosecute the same to completion, but Landlord shall not be required to restore Tenant’s trade fixtures, equipment and personal property or Alterations made by Tenant after the Commencement Date (unless insurance proceeds are specifically designated for and available to restore such Alterations). Notwithstanding the foregoing, if (a) the Premises is destroyed to an extent of at least fifty percent (50%) of the then full replacement cost thereof as of the date of destruction, (b) the destruction occurs during the last year of the Term (as it may have been extended), or (c) the Premises is damaged by any peril and, because of the laws then in force, the Premises cannot be used for the same use being made thereof before such damage, then Tenant and Landlord shall each have the right to terminate this Lease. A party may exercise this termination right by giving written notice to the other party within thirty (30) days after the date of such destruction. In addition, Landlord shall have the option to terminate this Lease in the event the Premises is damaged by any peril to such an extent that the estimated cost to restore the Premises exceeds the insurance proceeds received by Landlord by more than $250,000, which option may be exercised only by delivery to Tenant of a written notice of election to terminate before the 45th day after Landlord’s receipt of the insurance proceeds. Notwithstanding the foregoing, Tenant may, at its election (but shall not be obligated to), provide Landlord with funds to cover such shortfall, within thirty (30) days after Tenant’s receipt of Landlord’s termination notice, in which event Landlord shall complete its repair, reconstruction and restoration of the Premises pursuant to this Article and this Lease shall remain in full force and effect. If this Lease is not terminated pursuant to the provisions of this Section 12.1, then the destruction will not terminate this Lease, and all obligations of Tenant under this Lease will remain in effect, except that, to the extent rental interruption insurance proceeds are paid to Landlord (or would have been paid, but for Landlord’s breach of Section 11.2(a)), the Monthly Rental and Operating Expenses will be abated or reduced, between the date of the destruction and the date of completion of restoration, by the ratio of (a) the area of the Premises rendered unusable or inaccessible by the destruction to (b) the area of the Premises before the destruction, or abated entirely if the remaining portion of the Premises is not sufficient for the conduct of Tenant’s business. The foregoing shall not affect Tenant’s rights set forth in Section 12.3 below.

  • Insurance Policy The Employer agrees to remit to the Union an amount to be applied toward the payment of a premium by the Union for an insurance policy which provides a defense attorney to represent all members of the bargaining unit when they are charged with a criminal act that results from events occurring while the bargaining unit member was acting in an official capacity. The maximum amount payable during the term of the Agreement shall be seven dollars ($7.00) per member per month.

  • Uninsured Casualty Subject to Section 7.2.2, any deductible amount payable under the property insurance for the Building(s) in which the Premises are located shall be an Operating Expense. In the event that the Premises or any portion of the Building(s) is damaged to the extent Tenant is unable to use the Premises and the event of damage or destruction is not fully covered by insurance that the Landlord is required to maintain pursuant to this Lease or in the event that the holder of any indebtedness secured by the Premises requires in accordance with California law, that the insurance proceeds be applied to such indebtedness, then Landlord shall have the right, at Landlord’s option, either to (i) repair such damage as soon as reasonably possible at Landlord’s expense or (ii) give written notice to Tenant within thirty (30) days after the date of the occurrence of such damage of Landlord’s intention to terminate this Lease as of the date of the occurrence of such damage. In the event Landlord elects to terminate this Lease, Tenant shall have the right within thirty (30) days after receipt of such notice to give written notice to Landlord of Tenant’s intention to pay the cost of repair of such damage, in which event, following the securitization of Tenant’s funding commitment in a form reasonably acceptable to Landlord, this Lease shall continue in full force and effect. Landlord shall make such repairs as soon as reasonably possible, and Tenant shall reimburse Landlord for such repairs within thirty (30) days after receipt of an invoice from Landlord. If Tenant does not give such notice within the thirty (30) day period, this Lease shall terminate automatically as of the Casualty Date.

  • Insurer The Insurer shall be bound only by the terms of the Policy. Any payments the Insurer makes or actions it takes in accordance with the Policy shall fully discharge it from all claims, suits and demands of all entities or persons. The Insurer shall not be bound by or be deemed to have notice of the provisions of this Agreement.

  • Maintenance of Mortgage Impairment Insurance Policy In the event that the Servicer shall obtain and maintain a blanket policy issued by an insurer that has a general policy rating of B:VI or better in Best's Key Rating Guide insuring against hazard losses on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 3.10 and otherwise complies with all other requirements of Section 3.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 3.10, it being understood and agreed that such policy may contain a deductible clause, in which case the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with Section 3.10, and there shall have been a loss which would have been covered by such policy, deliver to the Trustee for deposit in the Distribution Account the amount not otherwise payable under the blanket policy because of such deductible clause, which amount shall not be reimbursable to the Servicer from the Trust Fund. In connection with its activities as servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of the Trustee, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy. Upon request of the Trustee, the Servicer shall cause to be delivered to the Trustee a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without thirty days prior written notice to the Trustee.

  • Mortgagee’s interest and additional perils insurances The Security Trustee shall be entitled from time to time to effect, maintain and renew all or any of the following insurances in such amounts, on such terms, through such insurers and generally in such manner as the Majority Lenders may from time to time consider appropriate:

  • Insurance Casualty Condemnation Seller agrees that it will keep the Property insured against casualty until the Closing Date under its existing insurance policies or replacement policies with the same coverage as existing at the date of execution hereof. Such policies shall be terminated by Seller at the Closing Date. In the event that, prior to the Closing Date, all or any portion of the Property shall be destroyed by fire or other casualty, or taken by condemnation or exercise of the right of eminent domain, or if proceedings therefor shall be instituted or threatened and the amount of any such damage or condemnation exceeds $100,000, then Buyer may, within ten (10) days of its receipt of notice of such event, elect to terminate this Agreement by written notice to Seller and Escrow Agent. If the damage or condemnation is equal to or less than $100,000 or if the damage or condemnation exceeds $100,000 but Buyer does not terminate this Agreement, then the parties shall proceed to close the transaction contemplated hereby, in which event any insurance or condemnation proceeds (excluding rental loss proceeds attributable to the period prior to the Closing Date) shall inure to the benefit of Buyer and shall be assigned by Seller to Buyer at close of Escrow. In the event the parties proceed to close the transaction contemplated hereby, Seller shall pay any required deductible applicable to such insurance coverage, or the Purchase Price shall be reduced by the amount of any such deductible.

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