Individual Insureds definition
Examples of Individual Insureds in a sentence
Each of the Individual Insureds represents and warrants that neither he/she, nor any authorized agents or assigns of such Individual Insured, up to and including the time of signing this Agreement, have assigned or transferred, or purported to assign or transfer, any of his/her rights in respect of any matter as to which that Individual Insured is granting a release in this Agreement.
Such Retention shall be borne by the Insured , uninsured and at their own risk, provided no Retention shall apply to Loss incurred by Individual Insureds for which the Organization is not permitted or required to indemnify the Individual Insured or is financially unable to do so.
Charter and certain of the Individual Insureds have been and/or are the subject of investigations and/or have been indicted or have plead guilty pursuant to those investigations by the following entities: the Securities and Exchange Commission ("SEC") and the United States Attorney's Office ("USAO").
If more than two-thirds (2/3) of the Individual Insureds object to the payment or payments described in the Payment Notice, no payment shall be made without the subsequent consent of Nicor and two-thirds (2/3) of the Individual Insureds or upon the order of a court of competent jurisdiction.
Nicor, the Individual Insureds and Escrow Agent have caused this Agreement to be executed on their behalf by their officers thereunto duly authorized, as of the date first above written.