Common use of Withholding assets or entitlements Clause in Contracts

Withholding assets or entitlements. The insured firm will account to the insurer for any asset or entitlement of any person who committed or condoned any dishonesty or fraudulent act or omission, provided that the insured firm is legally entitled to withhold that asset or entitlement from that person.

Withholding assets or entitlements. The insured firm Insured Firm will account to the insurer Insurer for any asset or entitlement of any person who committed or condoned any dishonesty or fraudulent act or omission, provided that the insured firm Insured Firm is legally entitled to withhold that asset or entitlement from that person.