Dependent Business definition

Dependent Business means any entity that is not a part of the Insured Organisation but which provides necessary products or services to the Insured Organisation pursuant to a written contract.

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Dependent Business means any business in which the local public officer or any member of his household has an ownership or beneficial interest, individually or combined, amounting to more than a ten percent interest, and during the preceding calendar year the business received from a single source more than ten thousand dollars and more than fifty percent of its gross income.

Dependent Business means any business in which the public officer

Examples of Dependent Business in a sentence

• Loss will apply after the Waiting Period has elapsed and the Underwriters will then indemnify the Named Insured for all Business Interruption Loss and Dependent Business Loss sustained during the Period of Restoration in excess of the Retention.

• Dependent Business Loss that the Insured Organisation sustains as a result of a Dependent Security Breach or a Dependent System Failure that the Insured first discovers during the Policy Period.

• With respect to Data Recovery Costs, Business Interruption Loss and Dependent Business Loss the Named Insured must notify the Underwriters through the contacts for Notice of Claim, Loss or Circumstance in the Declarations as soon as practicable after discovery of the circumstance, incident or event giving rise to such loss.

• All Dependent Business Loss payable under this Policy is part of and not in addition to the The Underwriters will not be obligated to pay any Loss, or to defend any Claim, after the Policy Aggregate Limit of Liability has been exhausted, or after deposit of the Policy Aggregate Limit of Liability in a court of competent jurisdiction.

• All Dependent Business Loss payable under this Policy is part of and not in addition to the The Underwriters will not be obligated to pay any Damages, Penalties, PCI Fines, Expenses and Costs or Claims Expenses, or to defend any Claim, after the Policy Aggregate Limit of Liability has been exhausted, or after deposit of the Policy Aggregate Limit of Liability in a court of competent jurisdiction.

More Definitions of Dependent Business

Dependent Business means any third party service provider that provides hosted computer application services to the insured or processes, maintains, hosts or stores the insured's electronic data, pursuant to written contract with the insured for such services.

Dependent Business means any business in which the local public officer or any member of his household has an ownership or beneficial interest, individually or combined, amounting to more than a TEN PERCENT (10%) INTEREST, AND DURING THE PRECEDING CALENDAR YEAR THE BUSINESS RECEIVED FROM A SINGLE SOURCE MORE THAN TEN

Dependent Business means any business in which the public officer or any member of his household has an ownership or beneficial interest, individually or combined, amounting to more than a ten per cent interest, and during the preceding calendar year the business received from a single source more than ten thousand dollars and more than fifty per cent of its gross income.

Dependent Business means any entity that is not a part of the Fund Member but provides necessary products or services to the Fund Member under a written contract.

Dependent Business means any entity that an Insured Entity does not own but which provides necessary business services to such Insured Entity pursuant to a written contract provided however an entity shall not be considered a Dependent Business to the extent it operates as an internet service provider (including any provider of internet connectivity), public utility (including without limitation a provider of electricity, gas, water, or telecommunications) or a securities exchange or market.

Dependent Business means any business, as defined herein, in which the person or members of the persons immediate family, individually or combined, have any direct or indirect ownership, investment, security or other beneficial interest amounting to more than five percent (5%) of such business.

Dependent Business means an entity that: 1. is not owned, operated, or controlled by the insured organization; and 2. provides outsourced business processes or information technology services for the insured organization pursuant to a written contract. Dependent business event means: 1. the acquisition, access, or disclosure of personally identifiable information or confidential corporate information by a person or entity, or in a manner, that is unauthorized by the dependent business; 2. a threat from a third party to commit an intentional attack against the dependent business’ website or computer system or publicly disclose confidential corporate information or personally identifiable information misappropriated from the dependent business if money, securities, or other property is not paid; or 3. any failure by the dependent business or by others on the dependent business’ behalf (including the dependent business’ subcontractors, outsourcers, or independent contractors) in securing the dependent business’ computer system. Dependent system failure means any unintentional and unplanned total or partial outage of a dependent business’ computer system that is not caused by a dependent business event. Event means a data breach, extortion threat, or security failure. Extortion threat means a threat from a third party (including acts of an employee acting outside of the scope of their duties and without the authorization of the insured organization) to commit or continue an intentional attack against the insured organization’s computer systems or publicly disclose confidential corporate information or personally identifiable information misappropriated from the insured organization if money, securities, or other property of value is not paid. Extra expense means reasonable and necessary costs incurred by the insured organization to minimize the interruption of its business that are over and above the cost that the insured organization ordinarily would have incurred to conduct its business had no event occurred.