Underwriter's Liability Sample Clauses

Underwriter's Liability. 1. The Underwriter shall be liable only if and when the Ultimate Net Loss sustained by the Assured and covered hereunder in respect of interests described herein in any one Occurrence exceeds the amount specified as the deductible in the Policy Declaration in effect at the time of the commencement of the Occurrence. The Underwriter shall thereupon be liable for the amount by which the said Ultimate Net Loss exceeds the amount specified as the deductible in the Policy Declaration in effect at the time of the commencement of the Occurrence. 2. Irrespective of the number and timing of losses, the Underwriter shall be liable in respect of any one Occurrence only up to a limit of the amount specified as the Occurrence limit in the Policy Declaration in effect at the time of the commencement of the Occurrence. 3. The Occurrence limits applicable under this policy and any other policy or policies issued by the Underwriter having the same Named Insured and the same expiration date as this policy shall in the aggregate be the Occurrence limits referred to in Condition F.
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Underwriter's Liability. The Underwriter shall be liable only if and when the Ultimate Net Loss sustained by the Named Insured and covered hereunder in respect of interests described herein in any one Occurrence exceeds the amount specified as the deductible in the Policy Declaration in effect at the time of the commencement of the Occurrence. The Underwriter shall thereupon be liable for the amount by which the said Ultimate Net Loss exceeds the amount specified as the deductible in the Policy Declaration in effect at the time of the commencement of the Occurrence.
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Underwriter's Liability. 1. The Underwriter shall be liable only if and when the Ultimate Net Loss sustained by the Assured and covered hereunder in respect of interests described herein in any one Occurrence exceeds the amount specified as the deductible on the Policy Declaration in effect at the time of the commencement of the Occurrence. The Underwriter shall thereupon be liable for the amount by which the said Ultimate Net Loss exceeds the amount specified as the deductible on the Policy Declaration in effect at the time of the commencement of the Occurrence. 2. Irrespective of the number and timing of losses, the Underwriter shall be liable in respect of any one Occurrence only up to a limit of the amount specified as the policy limit per Occurrence on the Policy Declaration in effect at the time of the commencement of the Occurrence. 3. The policy limits per Occurrence applicable under this policy and any other policy or policies issued by the Underwriter having the same Named Insured and the same expiration date (a) Notwithstanding Condition F.1 with respect to one or more losses from a single Occurrence (other than a Designated Named Windstorm Occurrence) arising in any manner out of the Assured's insured interest in any joint venture(s), co-venture(s), joint lease(s), joint operating agreement(s), partnership(s) or affiliated company or companies not otherwise reinsured as an entire entity or entities under this policy, the deductible shall be subject to adjustment as follows: (i) when only one loss from a single Occurrence is involved, the deductible shall be adjusted to an amount (not less than one million dollars ($1,000,000)) computed by multiplying the deductible otherwise applicable under this policy by the Assured's percentage interest in such loss; (ii) when the Assured's insured interest in more than one loss from a single Occurrence is involved, the deductible shall be adjusted to an amount (not less than one million dollars ($1,000,000)) computed by multiplying the deductible otherwise applicable under the policy by the percentage derived by dividing the sum of the Assured's interests in all such losses by the sum of all such losses (subject to a maximum of one hundred percent (100%)).
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Related to Underwriter's Liability

  • Reinsurer’s Liability The Reinsurer’s liability with respect to the Reinsured Risks will terminate on the earliest of: (i) the date the Company’s liability with respect to the Reinsured Risks is terminated and all amounts due the Company from the Reinsurer with respect to such Reinsured Risks are paid to the Company by or on behalf of the Reinsurer; and (ii) the date this Agreement is terminated upon the written agreement of the parties.

  • 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.

  • Company's Liability The Consultant agrees to defend, indemnify, and hold the Company harmless from an against any and all reasonable costs, expenses and liability (including reasonable attorney's fees paid in defense of the Company) which may in any way result pursuant to its gross negligence or willful misconduct or in any connection with any actions taken or statements made, on behalf of the Company, without the prior approval or authorization of the Company or which are otherwise in violation of applicable law.

  • Cross-Liability All required liability policies shall provide cross-liability coverage as would be achieve under the standard ISO separation of insureds clause.

  • Umbrella Liability The Umbrella / Excess Liability must be at least as broad as the underlying general liability and automobile liability policies. Limits – Each Occurrence $1,000,000 General Aggregate $1,000,000

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

  • Advisor’s Liability The Advisor shall have responsibility for the accuracy and completeness (and liability for the lack thereof) of the statements in each Fund’s offering materials (including the prospectus, the statement of additional information, and advertising and sales materials), except for information supplied by the co-administrators or the Trust or another third party for inclusion therein. The Advisor will not be liable for any error of judgment or mistake of law or for any loss suffered by Advisor or by the Trust in connection with the performance of this Agreement, except a loss resulting from a breach of fiduciary duty with respect to the receipt of compensation for services or a loss resulting from willful misfeasance, bad faith or gross negligence on its part in the performance of its duties or from reckless disregard by it of its duties under this Agreement.

  • Excess Liability Developer will purchase and maintain excess liability insurance in an amount not less than $5,000,000.

  • Trustee's Liability a) The Trustee will exercise the care, diligence and skill of a reasonably prudent person to minimize the possibility of a non-qualified investment being acquired or held by the Fund. b) Notwithstanding any other provisions hereof, the Trustee will not be liable in its personal capacity for or in respect of: (i) Any taxes or interest which may be imposed on the Fund under Tax Laws (whether by way of assessment, reassessment or otherwise) or for any charge levied or imposed by any governmental authority upon or in respect of the Fund, as a result of the purchase, sale or retention of any investment including, without limiting the generality of the forgoing, non-qualified investments, other than taxes, penalties and interest imposed on the Trustee arising from its personal liability, including without limitation, arising from its administrative error, under Tax Laws and that can't be paid out of the property of the Fund; or (ii) Any loss suffered or incurred by you, the Fund, or any beneficiary under the Fund caused by or resulting from the Trustee acting or declining to act upon instruction given to it, whether by you, a person designated by you or any person purporting to be you, unless caused by the Trustee’s dishonesty, bad faith, willful misconduct, gross negligence or reckless disregard. c) You, your legal personal representative, and each beneficiary under the Fund will at all times, indemnify and save harmless the Trustee in respect of any taxes, penalties, interest or other governmental charges which may be levied or imposed on the Trustee in respect of the Fund or any losses incurred by the Fund (other than losses, taxes, penalties, interest or other government charges for which the Trustee is liable in accordance herewith and that can't be paid out of the property of the Fund) as a result of the acquisition, retention or transfer of any investment or as a result of payments out of the Fund made in accordance with these terms and conditions or as result of the Trustee acting or declining to act on any instruction given to it by you. You, where required or requested, will provide the Trustee with such information as it may require in order to value assets being acquired or held by the Fund. The provisions of this section 13 shall survive the termination of the Fund.

  • 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.

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