Insurance Event definition
Examples of Insurance Event in a sentence
To RSD's knowledge since inception there has not been any damage, destruction or loss, which could have been deemed as an "Insurance Event".
To NHT's knowledge since NHT's inception there has not been any damage, destruction or loss, which could have been deemed as an "Insurance Event".
On the date of receipt by the Borrower or any Restricted Subsidiary, or by the Collateral Agent as loss payee, of any Net Proceeds in respect of any Insurance Event, the Borrower shall prepay the Term Borrowings in an aggregate amount equal to 100% of such Net Proceeds.
Any compensation due to the Insured may be reduced or refused, if use of alcohol or narcotics by the Insured has affected the occurrence of an Insurance Event.
When an Insurance Event occurs or when there is an immediate threat of the occurrence of an Insurance Event, the Insured shall to the best of his ability have the property damage or loss prevented or restricted.