Corporate Liability definition

Corporate Liability. , as of a Determination Date, means the Full Corporate Liability as of the Determination Date, as set out in the Actuarial Report for the Valuation Year that contains the Determination Date, multiplied by the Funding Ratio for the Actuarial Report.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Corporate Liability means Client is solely liable for the Transactions, subject to the Agreement and any Cardholder Agreement. Credit Limit means the maximum spending limit established for Client in connection with the Program. Cycle means the monthly period ending on the same day each month or, if that day is not a Business Day, then the following Business Day or preceding Business Day, as systems may require, or such other period as Bank may specify. Effective Date means the date indicated as such on the introductory paragraph.

Corporate Liability shall have the meaning ascribed to it in Section 6.2.11.

Examples of Corporate Liability in a sentence

• Upon and subject to such payment in full, the Company (or, in the case where the Liability Option selected is Joint and Several Liability, the Company and/or the Cardholder jointly and severally) may then make a claim under the Corporate Liability Waiver Insurance as may be amended from time to time in relation to the foregoing.

• For Citi Corporate Cards (Sole Corporate Liability), a monthly late payment charge or such other charges as determined by the Bank and notified to the Company from time to time, will be imposed on the Company if the Bank does not receive full payment of the amount set out in the Master Billing Statement by the payment due date indicated therein.

• Notwithstanding anything to the contrary, if the Liability Option selected is Sole Corporate Liability, the Company will pay or procure payment to the Bank of all such amounts as obligor to the Bank even if for any reason (including under any consumer protection legislation) the relevant Cardholder is not bound by a Cardmember’s Agreement or any term in the Cardmember’s Agreement is or may be unenforceable.

• Corporate Liability: Purchasing Entity is liable for all card transactions and fees.

• The parties shall reasonably cooperate and consult with, and notify, each other with respect to the management and disposition of any Corporate Liability not otherwise addressed in Section 6.12(b), Section 6.12(c) or any other Transaction Document.

• Corporate Liability any Excess borne by an Insured in respect of any Claim shall be reimbursed by RSA if final judgment or adjudication is given in favour of an Insured by a court or tribunal of competent jurisdiction.

• CORPORATE LIABILITY 9 Claims Notification 24 Corporate Liability Insuring Clause 9 Allocation 24 Corporate Liability Limit of Indemnity 9 Defence and Cooperation 24 Corporate Liability Extensions 9 Disputes as to Contesting Legal Proceedings 25 Corporate Liability Exclusions 10 Other Insurance 25 Related Claims 25 III.

• For the avoidance of doubt, references in the foregoing to the “Master Billing Statement” shall apply where the Liability Option selected is Sole Corporate Liability and references in the foregoing to the “Cardholder’s billing statement” shall apply where the Liability Option selected is Joint and Several Liability.

• See the Corporate Liability Waiver Insurance, as may be amended from time to time (available at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇.▇▇).

• For the avoidance of doubt, references in the foregoing to the “Master Billing Statement” shall apply where the Liability Option selected is Sole Corporate Liability and references in the foregoing to the “Cardholder’s billing statement” shall apply for Citi Business Card or where the Liability Option selected is Joint and Several Liability/Cardmember Liability.

More Definitions of Corporate Liability

Corporate Liability means Customer is solely liable to Bank for all Obligations on corporate liability Accounts.

Corporate Liability as of a Determination Date, means the Full Corporate Liability as of the Determination Date, as set out in the Actuarial Report for the Valuation Year that contains the Determination Date, multiplied by the Funding Ratio for the Actuarial Report.

Corporate Liability means the Client is liable for all Transactions on an Account and such liability shall be as agreed to by the parties and reflected on the Bank’s records and subject to this Agreement.

Corporate Liability as of the particular date of a Full Event of Default, means the Full Corporate Liability, as of the particular date, as set out in the Wind-up Report prepared in connection with the Full Event of Default.