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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

  • If the Customer did not purchase the Liability Reduction Option at the commencement of the Rental Period and paid a Liability Deposit, the Customer acknowledges that a new Liability Deposit will be required to be paid for the exchange Vehicle.

  • The details of the Liability Reduction under each Reduction Option are set out in Rental Vehicle Agreement Part A.

  • This charge applies irrespective of the Liability Reduction Option being taken.

  • Customers requiring Vehicle towing and Vehicle recovery from a road listed within this section will be responsible for up to AU$8,000 for towing and Vehicle recovery in the event of not having this cover irrespective of the Liability Reduction Option being selected.

  • This charge applies irrespective of any Liability Reduction Option taken.

  • If maui exercises its right to terminate the Liability Reduction Option, a Liability Deposit will be required to be paid by the Customer at the time of provision of the exchange Vehicle.

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

  • 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.

  • If there is damage to the Vehicle on its return, the bond will be used to cover the cost of such damage up to the amount of the relevant Liability Reduction.

  • If Xxxxx exercises its right to terminate the Liability Reduction Option, a Liability Deposit will be required to be paid by the Customer at the time of provision of the exchange Vehicle.

Related to Liability Reduction

  • Special Hazard Loss Coverage Amount With respect to the first Distribution Date, $5,000,000. With respect to any Distribution Date after the first Distribution Date, the lesser of (a) the greatest of (i) 1% of the aggregate of the principal balances of the Mortgage Loans, (ii) twice the principal balance of the largest Mortgage Loan and (iii) the aggregate of the principal balances of all Mortgage Loans secured by Mortgaged Properties located in the single California postal zip code area having the highest aggregate principal balance of any such zip code area and (b) the Special Hazard Loss Coverage Amount as of the Closing Date less the amount, if any, of Special Hazard Losses allocated to the Certificates since the Closing Date. All principal balances for the purpose of this definition will be calculated as of the first day of the calendar month preceding the month of such Distribution Date after giving effect to Scheduled Payments on the Mortgage Loans then due, whether or not paid.

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

  • Aggregate Reduction has the meaning specified in Section 1.3.

  • 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;

  • Indemnity Amount means the amount of any indemnification obligation payable under the Basic Documents.

  • Fraud Loss Coverage Amount As of the Closing Date, $10,458,862 subject to reduction from time to time, by the amount of Fraud Losses allocated to the Certificates. In addition, on each anniversary of the Cut-off Date, the Fraud Loss Coverage Amount will be reduced as follows:

  • Fraud Loss Coverage Termination Date The point in time at which the Fraud Loss Coverage Amount is reduced to zero.

  • Guarantee/Warranty/ Defect Liability Period (DLP) means the period and other conditions governing the warranty/guarantee/defect liability period of the services as provided in the Contract.

  • Aggregate Amounts Due as defined in Section 2.17.

  • 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.

  • Loss in Excess of Policy Limits means 90.0% of any amount paid or payable by the Company in excess of its policy limits, but otherwise within the terms of its policy, such loss in excess of the Company’s policy limits having been incurred because of, but not limited to, failure by the Company to settle within the policy limits or by reason of the Company’s alleged or actual negligence, fraud or bad faith in rejecting an offer of settlement or in the preparation of the defense or in the trial of an action against its insured or reinsured or in the preparation or prosecution of an appeal consequent upon such an action.

  • 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;

  • Source reduction means any practice that reduces the amount of any hazardous substance, pollutant, or contaminant entering any waste stream or otherwise released into the environment prior to recycling, energy recovery, treatment, or disposal.

  • Annual Addition means, for purposes of the limitations under Section 415(c) of the

  • Bankruptcy Loss Coverage Amount As of any date of determination, the Bankruptcy Loss Coverage Amount shall equal the Initial Bankruptcy Loss Coverage Amount as reduced by (i) the aggregate amount of Bankruptcy Losses allocated to the Certificates since the Cut-off Date and (ii) any permissible reductions in the Bankruptcy Loss Coverage Amount as evidenced by a letter of each Rating Agency to the Trustee to the effect that any such reduction will not result in a downgrading, qualification or withdrawal of the then current ratings assigned to the Classes of Certificates rated by it.

  • Covered Losses has the meaning set forth in Section 9.2(b).

  • 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.

  • Excess Special Hazard Loss Any Special Hazard Loss, or portion thereof, that exceeds the then applicable Special Hazard Amount.

  • 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.

  • 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.

  • Insured Amount As defined in the Policy.

  • Liability Claim has the meaning set forth in Section 7.2(a).

  • 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.

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

Most Referenced Clauses

Most Referenced Definitions