Denial of Liability definition

Denial of Liability means a determination made by BCIDA that it is not obligated to purchase the guaranteed portion of the BCIDA Loan. A Denial of Liability may be for the full amount of the guaranteed portion of the loan or any part thereof.
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Denial of Liability means a determination made by SBA pursuant to 13 C.F.R. §120.520 and 13 C.F.R. §120.524 that it is not obligated to purchase the guaranteed portion of the 7(a) Loan. SBA may Deny Liability for the full amount of the guaranteed portion of the Loan or any part thereof.
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Examples of Denial of Liability in a sentence

  • A Denial of Liability may be for the full amount of the guaranteed portion of the loan or any part thereof.

  • Listed below are examples of common Lender deficiencies that justify BCIDA Denial of Liability in full or in part.

  • For example, a partial Denial of Liability would be justified if a Lender made a $350,000 loan to purchase the equipment needed to start a new dental practice but failed to ensure that the Borrower purchased the equipment, and after several years of operating, the Borrower defaulted and BCIDA suffered a Material Loss equivalent to the Recoverable Value that the equipment would have had if it had been purchased with the loan proceeds and available for liquidation.

  • A full Denial of Liability is justified if the Lender's actions or omissions caused an actual or anticipated total or near total loss on the loan, resulted in BCIDA guaranteeing an ineligible loan, or are deemed material to the soundness or integrity of the BCIDA Loan program, and the Lender does not voluntarily request that BCIDA cancel the loan guaranty.

  • A full or partial Denial of Liability may be justified if there was a Material Loss on the loan because collateral required to be purchased with the loan proceeds, which would have had Recoverable Value, was not purchased and therefore, was not available for liquidation.

  • A full or partial Denial of Liability is justified if the Lender failed to obtain either the lien or the lien position required by the Conditional Commitment on the property required to be taken as collateral for the loan, and that failure caused, or could cause, a Material Loss on the loan.

  • Pre-existing Medical Conditions may be subject to an Exclusion (reduced benefit) or a Denial of Liability (no benefit) applied under the provisions of the Rules.

  • Any Pre-Existing Medical Condition is referred to the MBF Fund Medical Advisors for an assessment and advice is provided to the Trustee as to whether to apply an Exclusion or Denial of Liability.

  • ERISA Security Documents Guaranties Judgments Ownership Denial of Liability Governmental Action Existing Intercreditor Agreement Definitions The Agents Appointment Nature of Duties Certain Rights of the Agents Reliance by Agents Notice of Default, etc.

  • Denial of Liability This Agreement expresses the full and complete settlement of all liability claims.

Related to Denial of Liability

  • Limitation of Liability PrimePay has negotiated preferred terms and conditions with FD as a service to PrimePay Clients. Client understands that FD, and not PrimePay, will be performing those services and that Client will enter its own service agreement(s) with FD for such services under terms and conditions specified by FD and agreed to by Client. Accordingly, Client acknowledges that FD shall be the provider of Payment Processing Services hereunder and that PrimePay shall have no liability whatsoever for or related to the performance of those services, including any and all damages, costs and related expenses (including attorney fees).

  • 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.

  • Denial of Service Attack means an attack intended by the perpetrator to overwhelm the capacity of a Computer System by sending an excessive volume of electronic data to such Computer System in order to prevent authorized access to such Computer System.

  • Loss of Limb means loss by physical severance of a hand at or above the wrist or of a foot at or above the ankle.

  • Breach of Agreement provisions of Section 5(a)(ii) will apply to Party A and will not apply to Party B.

  • Third Party Claims has the meaning set forth in Section 11.1.

  • Maximum Liability has the meaning assigned to such term in Section 10.10.

  • Express warranty means an express warranty as set forth in sections 4-2-313 and 4-2.5-210, C.R.S. An express warranty shall cover every part of a new facilitative device.

  • Indemnification Claim Notice has the meaning set forth in Section 11.3.

  • 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.

  • Injury/Injured means a bodily injury caused by an accident occurring while the Insured’s coverage under this Policy is in force and resulting directly and independently of all other causes of Loss covered by this Policy. The injury must be verified by a Physician.

  • Indemnification Claim has the meaning set forth in Section 8.4(a).

  • Legal Liability means responsibility which courts recognize and enforce between persons who sue one another.

  • Indemnification Obligations means each of the Debtors’ indemnification obligations in place as of the Effective Date, whether in the bylaws, certificates of incorporation or formation, limited liability company agreements, other organizational or formation documents, board resolutions, management or indemnification agreements, or employment or other contracts, for their current and former directors, officers, managers, members, employees, attorneys, accountants, investment bankers, and other professionals and agents of the Debtors.

  • Litigation support contractor means a contractor (including its experts, technical consultants, subcontractors, and suppliers) providing litigation support under a contract that contains the clause at 252.204-7014, Limitations on the Use or Disclosure of Information by Litigation Support Contractors.

  • Complications of Pregnancy means conditions 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 nonelective 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.

  • Indemnification Provisions means each of the Debtors’ indemnification provisions currently in place whether in the Debtors’ bylaws, certificates of incorporation, other formation documents, board resolutions, or contracts for the current and former directors, officers, managers, employees, attorneys, other professionals, and agents of the Debtors and such current and former directors’, officers’, and managers’ respective Affiliates.

  • Catastrophic Damage as used hereunder is major change or damage to In- cluded Timber on Sale Area, to Sale Area, to access to Sale Area, or a combination thereof:

  • Third Party Claim Notice shall have the meaning set forth in Section 6.5(a).

  • Indemnification Obligation means any existing or future obligation of any Debtor to indemnify current and former directors, officers, members, managers, sponsors, agents or employees of any of the Debtors who served in such capacity, with respect to or based upon such service or any act or omission taken or not taken in any of such capacities, or for or on behalf of any Debtor, whether pursuant to agreement, letters, the Debtors’ respective memoranda, articles or certificates of incorporation, corporate charters, bylaws, operating agreements, limited liability company agreements, or similar corporate or organizational documents or other applicable contract or law in effect as of the Effective Date.

  • Products Liability means:Your legal liability in respect of Personal Injury and/or Property Damage caused by or arising out of any Products or the reliance upon a representation or warranty made at any time with respect to such products; but only where such Personal Injury and/or Property Damage occurs away from premises owned or leased by or rented to You and after physical possession of such products has been relinquished to others.

  • General relief means money payments and other forms of relief made to those persons mentioned

  • Structural damage means a covered building, regardless of the date of its construction, has experienced the following.

  • Errors shall have the meaning specified in Section 8.2(c) of the Sale and Servicing Agreement.

  • General Liability means:Your legal liability in respect of Personal Injury and/or Property Damage and/or Advertising Injury caused by or arising out of an Occurrence happening in connection with the Business other than Products Liability.

  • Direct Damage has the meaning given to it in clause 26.2;