Liability Option definition

Liability Option means one of the following liability options as selected by the Company in the Application Form, and which shall apply to this Agreement;
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Liability Option means the purchasable options by which You can specify an increase on our liability if our default liability option is not sufficient to cover the worth of the Consignment;
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Examples of Liability Option in a sentence

  • 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.

  • 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.

  • Without prejudice to Clause 7.5, the Company (or, in the case where the Liability Option is Joint and Several Liability, the Company and/or the Cardholder jointly and severally) shall be liable to the Bank for charges incurred as a result of any unauthorized use of a Card by any other employee of the Company or any third party who is not the Cardholder.

  • If the Liability Option selected is Joint and Several Liability, the total outstanding balance shall be paid by the Cardholder and/or the Company in full by the payment due date set out in the Cardholder’s billing statement (and in the case of the Cardholder) regardless of whether he has been reimbursed by the Company, and both the Cardmember and Company shall have joint and several liability to pay such balance to the Bank.

  • The bond for Liability Option 2 will be collected from You, at the time of You signing this Agreement.

  • Select:(a) Radon/Termite Option and(b) General Liability Option DesiredSome restrictions may apply based on underwriting criteria.

  • 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.

  • Damage as identified below is specifically excluded from any Liability Option or Additional Protection Coverage limitation of liability unless stated otherwise and the customer remains fully liable for all costs incurred.

  • The Customer acknowledges that they are responsible for all costs for the following damage irrespective of the Liability Option that may have been taken.

  • The bond for Standard Liability and Liability Option 1 will be collected from You, by Cheapa Xxxxx debiting your credit card, at the time of You signing this agreement.

Related to Liability Option

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

  • Defects Liability Expiry Certificate means the certificate to be issued by the Client to the Contractor, in accordance with the Contract.

  • Noncompensatory Option has the meaning set forth in Treasury Regulation Section 1.721-2(f).

  • 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.

  • Maximum Potential Additional Dividend Liability, as of any Valuation Date, means the aggregate amount of Additional Dividends that would be due if the Corporation were to make Retroactive Taxable Allocations, with respect to any fiscal year, estimated based upon dividends paid and the amount of undistributed realized net capital gains and other taxable income earned by the Corporation, as of the end of the calendar month immediately preceding such Valuation Date and assuming such Additional Dividends are fully taxable.

  • Liability Cap has the meaning ascribed to it in paragraph 1 of Schedule 9;

  • 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.

  • Non-Qualified Option means an Option that is not an Incentive Stock Option.

  • Company Option means an option to purchase shares of Company Common Stock granted under the Company Incentive Plan.

  • Excluded Liability means any liability that is excluded under the Bail-In Legislation from the scope of any Bail-In Action including, without limitation, any liability excluded pursuant to Article 44 of the Bank Recovery and Resolution Directive.

  • 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.

  • Vested Option means any Option, which has already been vested according to the Vesting Dates.

  • Product Liability Claim means a Claim of a Third Party (other than a Claim arising out of use of the Product in a clinical trial) that (i) arises as a result of the use of the Product during the Term that results in personal injury or death or (ii) is in anticipation of or intended to prevent or forestall personal injury or death as a result of the use of the Product during the Term.

  • Nonqualified Option means any Option that is not an Incentive Stock Option.

  • Product Liability means any liability, claim or expense, including but not limited to attorneys’ fees and medical expenses, arising in whole or in part out of a breach of any express or implied product warranty by the Company, strict liability in tort, negligent manufacture of product, negligent provision of services, product recall, or any other allegation of liability arising from the design, testing, manufacture, packaging, labeling (including instructions for use), or sale of products.

  • Defect Liability Period in relation to a work means the specified period from the date of COMPLETION CERTIFICATE upto the date of issue of FINAL CERTIFICATE during which the CONTRACTOR stands responsible for rectifying all defects that may appear in the works executed by the CONTRACTOR in pursuance of the CONTRACT and includes warranties against Manufacturing/Fabrication/ Erection/Construction defects covering all materials plants, equipment, components, and the like supplied by the CONTRACTOR, works executed against workmanship defects.

  • Vested Company Option means each Company Option outstanding as of immediately prior to the Effective Time that is vested as of immediately prior to the Effective Time or will vest solely as a result of the consummation of the Merger.

  • Aggregate Option Exercise Price means, as of any date of determination, the sum of the exercise prices payable upon exercise in full of all Vested Options held by all Optionholders immediately prior to the Effective Time, based on the Estimated Merger Consideration or the Final Adjusted Merger Consideration, as applicable.

  • Gross Liability Value means, with respect to any Liability of the Partnership described in Treasury Regulation Section 1.752-7(b)(3)(i), the amount of cash that a willing assignor would pay to a willing assignee to assume such Liability in an arm’s-length transaction.

  • Parent Option means any option to purchase Parent Common Stock which was granted pursuant to a Parent Option Plan.

  • Overall Share Limit means the sum of (i) 4,289,936 Shares; (ii) any Shares that are subject to Prior Plan Awards that become available for issuance under the Plan pursuant to Article V; and (iii) an annual increase on the first day of each year beginning in 2019 and ending in 2028, equal to the lesser of (A) 5% of the Shares outstanding (on an as-converted basis) on the last day of the immediately preceding fiscal year and (B) such smaller number of Shares as determined by the Board.

  • 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.

  • Nonstatutory Option means a stock option not described in Sections 422(b) or 423(b) of the Code.

  • Excluded Hedge Liability or Liabilities means, with respect to each Borrower and Guarantor, each of its Swap Obligations if, and only to the extent that, all or any portion of this Agreement or any Other Document that relates to such Swap Obligation is or becomes illegal under the CEA, or any rule, regulation or order of the CFTC, solely by virtue of such Borrower’s and/or Guarantor’s failure to qualify as an Eligible Contract Participant on the Eligibility Date for such Swap. Notwithstanding anything to the contrary contained in the foregoing or in any other provision of this Agreement or any Other Document, the foregoing is subject to the following provisos: (a) if a Swap Obligation arises under a master agreement governing more than one Swap, this definition shall apply only to the portion of such Swap Obligation that is attributable to Swaps for which such guaranty or security interest is or becomes illegal under the CEA, or any rule, regulations or order of the CFTC, solely as a result of the failure by such Borrower or Guarantor for any reason to qualify as an Eligible Contract Participant on the Eligibility Date for such Swap; (b) if a guarantee of a Swap Obligation would cause such obligation to be an Excluded Hedge Liability but the grant of a security interest would not cause such obligation to be an Excluded Hedge Liability, such Swap Obligation shall constitute an Excluded Hedge Liability for purposes of the guaranty but not for purposes of the grant of the security interest; and (c) if there is more than one Borrower or Guarantor executing this Agreement or the Other Documents and a Swap Obligation would be an Excluded Hedge Liability with respect to one or more of such Persons, but not all of them, the definition of Excluded Hedge Liability or Liabilities with respect to each such Person shall only be deemed applicable to (i) the particular Swap Obligations that constitute Excluded Hedge Liabilities with respect to such Person, and (ii) the particular Person with respect to which such Swap Obligations constitute Excluded Hedge Liabilities.

  • Tandem Appreciation Right means an Appreciation Right granted pursuant to Section 5 of this Plan that is granted in tandem with an Option Right.

  • Eligible Liabilities and “Special Deposits” have the meanings given to them from time to time under or pursuant to the Bank of England Act 1998 or (as may be appropriate) by the Bank of England;