Bankruptcy or Default definition

Bankruptcy or Default means the total cessation of operations due to insolvency, with or without the filing of a bankruptcy petition by an airline, or cruise line, tour operator or other travel provider provided the Bankruptcy or Default occurs more than 14 days following Your Effective Date for the Trip Cancellation Benefits. There is no coverage for the Bankruptcy or Default of any person, organization, agency or firm from whom You purchased Travel Arrangements supplied by others.
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Bankruptcy or Default means the total cessation of operations due to financial insolvency, with or without the filing of a bankruptcy.
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Bankruptcy or Default means the total cessation of operations due to insolvency, with or without the filing of a bankruptcy petition by an airline, cruise line, tour operator or other travel provider provided the Bankrupt- cy or Default occurs more than 14 days following Your Effective Date for the Trip Cancellation Benefits. There is
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Examples of Bankruptcy or Default in a sentence

  • There is no coverage for the Bankruptcy or Default of any person, organization, agency or firm from whom You purchased Travel Arrangements supplied by others.

  • Benefits will be paid due to Bankruptcy or Default of an airline only if no alternate transportation is available.

  • TCIUE-9AA 4) Bankruptcy or Default of a Travel Supplier, other than the travel agency or organization from whom You purchased the Travel Arrangements.

  • Bankruptcy or Default of an airline, cruise line, tour operator or other travel provider (other than the Travel Supplier, tour operator or travel agency, from whom You purchased Your Travel Arrangements) causing a complete cessation of travel services more than 14 days following Your Effective Date.

  • Bankruptcy or Default means the total cessation of operations due to insolvency, with or without the filing of a bankruptcy petition or the total cessation or complete suspension of operations following the filing of a bankruptcy petition, whether voluntary or involuntary by an airline, cruise line, tour operator or other travel provider provided the Bankruptcy or Default occurs more than 14 days following Your Effective Date for Your Program Cancellation Benefits.

  • Benefits are provided only for the expenses charged by the Travel Supplier whose Bankruptcy or Default results in loss covered by this Policy and which stops service: a) more than 14 days following Your Effective Date for Trip Cancellation; or b) after Your Scheduled Departure Date for Trip Interruption; provided You purchased this insurance within 21 days from the date You paid the initial deposit on Your Covered Trip.

  • Bankruptcy or Default means the total cessation of operations due to insolvency, with or without the filing of a bankruptcy petition by an airline, cruise line, tour operator or other travel provider provided the Bankruptcy or Default occurs more than 14 days following Your Effective Date for the Trip Cancellation Benefits.

  • Benefits are provided only for the expenses charged by the Travel Supplier whose Bankruptcy or Default results in loss covered by the Policy and which stops service: a) more than 14 days following Your Policy Effective Date for Trip Cancellation; or b) after Your Scheduled Departure Date for Trip Interruption; provided You purchased this insurance within 21 days from the date You paid the initial deposit on Your Covered Trip.

  • Insure The Full Cost of Your TripIf You have insured an amount less than 100% of the cost of all Your Prepaid Trip costs that are subject to cancellation penalties or restrictions:1) the maximum benefit for Trip Cancellation will be limited to the amount of coverage You purchased; 2) the maximum benefit for Trip Interruption will be 150% of the amount of coverage You purchased; and 3) there will be no coverage for Bankruptcy or Default of an airline, cruise line, tour operator or travel supplier.

  • Bankruptcy or Default does not include the total cessation or complete suspension of operations for losses caused by fraud or negligent misrepresentation by the supplier of travel services.


More Definitions of Bankruptcy or Default

Bankruptcy or Default means the total cessation of operations due to
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Bankruptcy or Default means the total cessation of operations due to insolvency, with or without the filing of a bankruptcy petition by an airline, or cruise line, tour operator or other travel provider provided the Bankruptcy or Default
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Bankruptcy or Default means the total cessation of operations due to insolvency, with or without the filing of a bankruptcy petition by an airline, or
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Bankruptcy or Default means the total cessation of operations due to insolvency, with or
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Bankruptcy or Default means the total cessation of operations due to insolvency, with or without the filing of a bankruptcy petition by an airline, cruise line, tour operator
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Bankruptcy or Default means the total cessation of operations due to insolvency, with or without the filing of a bankruptcy petition by an airline, cruise line, tour operator or other travel provider provided the Bankruptcy or Default occurs more than 14 days following Your Effective Date for the Trip Cancellation Benefits. There is no coverage for the Bankruptcy or Default of any person, organization, agency or firmfrom whom You purchased Travel Arrangements supplied by others.“Business Partner”means an individual who (a) is involved in a legal general partnership with You and (b) is actively involved in the day to day management of Your business.“Common Carrier”means any land, sea, or air conveyance operating under a valid license for the transportation of passengers for hire, not including taxicabs or rented, leased or privately owned motor vehicles.“Complications of Pregnancy”means conditions (when the pregnancy is not terminated) whose diagnoses are distinct from pregnancy but are adversely affected by pregnancy or are caused by pregnancy. These conditions include acute nephritis, nephrosis, cardiac decompensation, missed abortion and similar medical and surgical conditions of comparable severity. Complications of Pregnancy also include non-elective cesarean section, ectopic pregnancy which is terminated and spontaneous termination of pregnancy, which occurs during a period of gestation in which a viable birth is not possible.Complications of Pregnancy does not include false labor, occasional spotting, Physician-prescribed rest during the period of pregnancy, morning sickness, hyperemesis gravidarum, preeclampsia and similar conditions associated with the management of a difficult pregnancy not constituting a nosologicallydistinct complication of pregnancy.“Confirmation of Benefits”means a written confirmation specifying the coverages and amounts purchased and which is delivered following purchase.“Covered Accident”means an Accident that occurs while coverage is in force and results in a loss for which benefits are payable.“Domestic Partnermeans an opposite or same sex partner who, for at least 10 consecutive months, has resided with You and shared financial assets/obligations with You. Both You and the Domestic Partner must: (1) intend to be life partners; (2) be at least the age of consent in the state in which You both reside; and (3) be mentally competent to contract. Neither You nor the Domestic Partner can be related by blood to a degree of closeness that would prohi...
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Related to Bankruptcy or Default

  • Bankruptcy Event means, with respect to any Person, such Person becomes the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, administrator, custodian, assignee for the benefit of creditors or similar Person charged with the reorganization or liquidation of its business appointed for it, or, in the good faith determination of the Administrative Agent, has taken any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any such proceeding or appointment, provided that a Bankruptcy Event shall not result solely by virtue of any ownership interest, or the acquisition of any ownership interest, in such Person by a Governmental Authority or instrumentality thereof, provided, further, that such ownership interest does not result in or provide such Person with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Person (or such Governmental Authority or instrumentality) to reject, repudiate, disavow or disaffirm any contracts or agreements made by such Person.

  • Event of Default has the meaning specified in Section 8.01.

  • Event of Insolvency means, for any Person:

  • Specified Event of Default means any Event of Default pursuant to Section 8.01(a), Section 8.01(f) or Section 8.01(g).

  • Potential Event of Default means any event which, with the giving of notice or the lapse of time or both, would constitute an Event of Default.