Liability Reduction definition

Liability Reduction means the amount for which You will be liable to pay in the event of Loss or Damage to the Vehicle as set out in Rental Vehicle Agreement Part A, which may be reduced by purchase of Reduction Options subject to the terms and conditions of this Agreement.
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Liability Reduction means the ability of the Underwriters, in their sole and absolute discretion, to reduce the size of the Offering by an amount which does not exceed the amount by which the aggregate Offering Price subscribed for by Partially Excluded Purchasers is less than $1,500,000;
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Examples of Liability Reduction in a sentence

  • The Liability Reduction is applicable regardless of who is at fault and must be paid at the time the accident/incident is reported to Xxxxxx, not at the completion of the rental period.

  • Reduction Option 2 (VIP Cover) A $0 (zero) Liability Reduction applies to all Campervans and Motorhomes.

  • You will remain responsible up to the amount of the applicable Liability Reduction set out in Rental Vehicle Agreement Part A for the cost of such damage to the Vehicle and for damage to third party property.

  • The Standard Liability can be reduced if You purchase one of the following Reduction Options: Reduction Option 1 A Liability Reduction of $2,500 applies.

  • The Liability Reduction applies in respect of each claim, not per rental.

  • The Hirer is responsible for all toll road charges (except where the VIP Liability Reduction Option is taken), fines, court costs and administrative fees for any traffic, bus lane, parking or freedom camping offences or other legal violations assessed against the Vehicle, the Hirer or Wilderness in connection with the Vehicle during the Rental Period (together “Infringement Fees”).

Related to Liability Reduction

  • extended reduction (qualifying contributory benefits means a reduction under this scheme for which a person is eligible in accordance with paragraph 88 or 95;

  • extended reduction means a reduction under this scheme for which a person is eligible under Part 12 (extended reductions);

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

  • Salary Reduction means the amount by which the Participant's Compensation is reduced and applied by the Employer under this Plan to pay for one or more of the Benefits, as permitted for the applicable Component, before any applicable state and/or federal taxes have been deducted from the Participant's Compensation (i.e., on a pre-tax basis).

  • Related Liability Amount with respect to any Related Liability on the books of the Assuming Institution, means the amount of such Related Liability as stated on the Accounting Records of the Assuming Institution (as maintained in accordance with generally accepted accounting principles) as of the date as of which the Related Liability Amount is being determined. With respect to a liability that relates to more than one asset, the amount of such Related Liability shall be allocated among such assets for the purpose of determining the Related Liability Amount with respect to any one of such assets. Such allocation shall be made by specific allocation, where determinable, and otherwise shall be pro rata based upon the dollar amount of such assets stated on the Accounting Records of the entity that owns such asset.

  • 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.

  • extended reduction period means the period for which a person is in receipt of an extended reduction in accordance with paragraph 89, 96 or 101;

  • Annual Addition The sum of the following amounts allocated on behalf of a Participant for a Limitation Year, of (i) all Employer contributions; (ii) all forfeitures; and (iii) all Employee contributions. Except to the extent provided in Treasury regulations, Annual Additions include excess contributions described in Code Section 401(k), excess aggregate contributions described in Code Section 401(m) and excess deferrals described in Code Section 402(g), irrespective of whether the plan distributes or forfeits such excess amounts. Annual Additions also include Excess Amounts reapplied to reduce Employer contributions under Section 3.10. Amounts allocated after March 31, 1984, to an individual medical account (as defined in Code Section 415(l)(2)) included as part of a defined benefit plan maintained by the Employer are Annual Additions. Furthermore, Annual Additions include contributions paid or accrued after December 31, 1985, for taxable years ending after December 31, 1985, attributable to post-retirement medical benefits allocated to the separate account of a key employee (as defined in Code Section 419A(d)(3)) under a welfare benefit fund (as defined in Code Section 419(e)) maintained by the Employer.

  • Waste reduction , or “pollution prevention” means the practice of minimizing the generation of waste at the source and, when wastes cannot be prevented, utilizing environmentally sound on-site or off-site reuse and recycling. The term includes equipment or technology modifications, process or procedure modifications, product reformulation or redesign, and raw material substitutions. Waste treatment, control, management, and disposal are not considered pollution prevention, per the definitions under Part 143, Waste Minimization, of the Natural Resources and Environmental Protection Act (NREPA), 1994 PA 451, as amended.

  • 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.

  • Insured Amount As defined in the Policy.

  • Load Reduction Event means a reduction in demand by a Member or Special Member for the purpose of participating in the PJM Interchange Energy Market.

  • Waste load allocation means (i) the water quality-based annual mass load of total nitrogen or