Common use of Uncovered Amount Clause in Contracts

Uncovered Amount. You shall keep for your own account any portion of the Debt excluded from cover under article 1.2 above or for which no indemnification is due by Us pursuant to article 3.2.1 below. Such portion may not be insured or covered separately by any third party, except with our prior written consent. Definitions Contract: the credit-insurance contract concluded between the legal entities identified herein as Contracting Parties and which includes these General Terms, the Special Terms, the Questionnaire and any additional document listed in the Special Terms. Credit Decision : decision which is set pursuant to the Special Terms and determines the maximum covered amount of your Outstanding in respect of a given Buyer, if any. / ARTICLE 3 : INDEMNIFICATION 3.1 Notification of Overdue Account and evidence of Debt 3.1.1 Notification of Overdue Account a) You shall notify Us through our online system and within the time limit for notifica- tion, any Overdue Account remaining due at the date of your notification, if it exceeds the notification threshold. b) In case of Overdue Account, You shall take all measures as may be considered neces- sary to prevent or minimise the consequences of the claim. You shall pursue diligently and in good time any rights You may have over the Debt, including rights to recover goods or to protect your or our rights or to secure the payment of the Debt. 3.1.2 Evidence of Debt Upon our request and within the waiting period, You shall send Us all written evidence of the Debt, of the Security possibly obtained and if applicable of the Insolvency of the Buyer.

Uncovered Amount. You shall keep for your own account any portion of the Debt excluded from cover under article 1.2 above or for which no indemnification is due by Us pursuant to article 3.2.1 below. Such portion may not be insured or covered separately by any third party, except with our prior written consent. Definitions Contract: the credit-insurance contract concluded between the legal entities identified herein as Contracting Parties and which includes these General Terms, the Special Terms, the Questionnaire and any additional document listed in the Special Terms. Credit Decision : decision which is set pursuant to the Special Terms and determines the maximum covered amount of your Outstanding in respect of a given Buyer, if any. Definitions / ARTICLE 3 : INDEMNIFICATION 3.1 Notification of Overdue Account and evidence of Debt 3.1.1 Notification of Overdue Account a) You shall notify Us through our online system and within the time limit for notifica- tion, any Overdue Account remaining due at the date of your notification, if it exceeds the notification threshold. b) In case of Overdue Account, You shall take all measures as may be considered neces- sary to prevent or minimise the consequences of the claim. You shall pursue diligently and in good time any rights You may have over the Debt, including rights to recover goods or to protect your or our rights or to secure the payment of the Debt. 3.1.2 Evidence of Debt Upon our request and within the waiting period, You shall send Us all written evidence of the Debt, of the Security possibly obtained and if applicable of the Insolvency of the Buyer.

Uncovered Amount. You shall keep for your own account any portion of the Debt excluded from cover under article 1.2 above or for which no indemnification is due by Us pursuant to article 3.2.1 below. Such portion may not be insured or covered separately by any third party, except with our prior written consent. / ARTICLE 3 : INDEMNIFICATION Definitions Contract: the credit-insurance contract concluded between the legal entities identified herein as Contracting Parties and which includes these General Terms, the Special Terms, the Questionnaire and any additional document listed in the Special Terms. Credit Decision : decision which is set pursuant to the Special Terms and determines the maximum max- imum covered amount of your Outstanding in respect of a given Buyer, if any. / ARTICLE 3 Credit Limit: INDEMNIFICATIONtype of Credit Decision set by Us, as per article 2.1. of the Special Terms. Debt: amount of one or more invoices owed by the Buyer under a Sales Contract and which falls within the scope of our cover as defined in article 1.1.1 above. 3.1 Notification of Overdue Account and evidence of Debt 3.1.1 Notification of Overdue Account a) You shall notify Us through our online system and within the time limit for notifica- tion, any Overdue Account remaining due at the date of your notification, if it exceeds the notification threshold. b) In case of Overdue Account, You shall take all measures as may be considered neces- sary to prevent or minimise the consequences of the claim. You shall pursue diligently and in good time any rights You may have over the Debt, including rights to recover goods or to protect your or our rights or to secure the payment of the Debt. 3.1.2 Evidence of Debt Upon our request and within the waiting period, You shall send Us all written evidence of the Debt, of the Security possibly obtained and if applicable of the Insolvency of the Buyer.