Assumption of Liability definition

Assumption of Liability. As provided in the Xxxxxxx Rental Contract, the customer assumes full responsibility for all damage or loss of rental equipment, as well as all personal injuries or property damage resulting from customer's use, misuse, or possession of the equipment.
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Assumption of Liability. The CLIENT assumes and claims all responsibility and liability for the content of any and all WRITTEN information prepared by BRG and disseminated on behalf of the CLIENT that the CLIENT approves prior to dissemination.
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Assumption of Liability means a promise by the transferee of mortgaged real estate, whether made to the transferor or to the mortgagee, to perform the
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Examples of Assumption of Liability in a sentence

  • The provisions of this Article shall not be implemented unless specifically invoked, in writing, by one of the parties to this Contract or, in the event the Assumption of Liability Endorsement is triggered, by the Insured.

  • Nothing herein shall in any manner create any obligation or establish any right against the Reinsurer in favor of third parties or any persons not parties to this Contract except as provided with respect to the Insured in this Contract or in the Assumption of Liability Endorsement.

  • However, any Subscribing Reinsurer that has its share terminated in accordance with the provisions of the Special Termination Article shall not be allowed to implement the provisions of this Article against the Company or, in the event the Assumption of Liability Endorsement is triggered, the Insured.

  • The Assumption of Liability Endorsement and the Reinsurance Trust Agreement are attached to each Subscribing Reinsurer's Interests and Liabilities Agreement, and form part of and are incorporated into this Contract as Exhibit B and Exhibit C, respectively, for each Subscribing Reinsurer.

  • Pursuant to the provisions of the Assumption of Liability Endorsement, the Reinsurer has agreed that, in lieu of payment to the Company or its receiver, rehabilitator, liquidator, conservator, or other statutory successor, it shall pay valid claims under the Policy directly to the Insured, at the Insured's request, if a Cut Through Triggering Event (as that term is defined in the Assumption of Liability Endorsement) occurs.

  • This Contract, the Policy, the Assumption of Liability Endorsement, the Reinsurance Trust Agreement, and any other agreements referenced herein, constitute the entire agreement between the parties with respect to the business reinsured hereunder.

  • One of the development parties must now assume liability to pay CIL by submitting an Assumption of Liability Notice to the Council at cil@islington.gov.uk.

  • Failure to submit a valid Assumption of Liability Notice and Commencement Notice prior to commencement of the development may result in surcharges being imposed.

  • Please complete and return the Assumption of Liability Form 1 and CIL Additional Information Form 0.

  • For instance, whoever will pay the levy must submit an Assumption of Liability form and a Commencement Notice to Wokingham Borough Council prior to commencement of development.

Related to Assumption of Liability

  • Limit of Liability means, with respect to any Insuring Agreement, the limit of liability of the Underwriter for any Single Loss covered by such Insuring Agreement as set forth under the heading “Limit of Liability” in Item 3 of the Declarations or in any Rider for such Insuring Agreement.

  • BRRD Liability means a liability in respect of which the relevant Write Down and Conversion Powers in the applicable Bail-in Legislation may be exercised;

  • Bill of Sale means a bill or bills of sale in a form substantially in conformance with the form attached as the Exhibit B hereto.

  • Limit of Indemnity means the amount stated in the Schedule pursuant to Clause 5 of this Policy.