Major liability definition

Major liability means a liability equal to or greater than 10% of the total liabilities listed on the financial statement.
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Examples of Major liability in a sentence

  • Major liability item of the Superannuation Funds & Life Insurance companies.

  • Major liability items: (1) The GTLSCA assumes no liability for any consequences arising from the use of certificates by subscribers or relying parties outside of the scope of the GTLSCA CPS.

  • Major liability accounts are money market borrowings and settlement dues.

  • Major liability items were 11,702 million won (67.3% of total liabilities) in current liabilities including 10,223 million won in contribution to the capital budget, 993 million won in deposits, and 5,475 million won (31.5% of total liabilities) in long-term liabilities.

  • Spain has consistently fallen short of its political commitments to curb GHG.17 Furthermore, enforcing a Carbon Major liability for climate change in Spain could not only boost EU legal harmonization, but also has the potential to influence Latin American legal systems evolved from Spanish Civil Law.

  • Major liability may be harmed from, inter alia, individual litigation, class litigation, regulatory investigation, contract dispute, loss of customers, reputation damage, data theft, denial of service, cyber-terrorism, cyber-extortion, and fraud.

  • Major liability if roads are substandard and don't support emergency vehicles.VM McBrady spoke on information received approximately 15 years ago that the county allowed maintenance of private roads even though it was not allowed by law.

  • Major liability insurance carriers also participate in the process of developing the AIA standard general conditions.

  • Major liability claims should be reviewed for adequacy of investigation and accuracy of the reserve.

  • Major liability coverages mentioned by Mr. Hollingsworth included: • Police operations• Public officials and Employment practices• Seaport, or more specifically, all non-Airport operations• Airport-only operations• Auto – liability of the Port’s fleet Several insurance premium factors were reviewed, including the total operating/capital budget of the Port; the record of past losses and claims; payroll; strength of indemnity agreements with our tenants; operations controlled by the Port vs.

Related to Major liability

  • Senior Liabilities means the Senior Lender Liabilities and the Hedging Liabilities.

  • 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.

  • 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.

  • UK Bail-in Liability means a liability in respect of which the UK Bail-in Powers may be exercised.

  • Environmental Costs and Liabilities means any and all losses, liabilities, obligations, damages, fines, penalties, judgments, actions, claims, costs and expenses (including, without limitation, fees, disbursements and expenses of legal counsel, experts, engineers and consultants and the costs of investigation and feasibility studies and remedial activities) arising from or under any Environmental Law or order or contract with any Governmental Authority or any other Person.

  • Indemnification Claim has the meaning set forth in Section 12.3.

  • 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.

  • Environmental Liability means any liability, contingent or otherwise (including any liability for damages, costs of environmental remediation, fines, penalties or indemnities), of the Company or any Subsidiary directly or indirectly resulting from or based upon (a) violation of any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or threatened release of any Hazardous Materials into the environment or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing.

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

  • Contingent Liability means any agreement, undertaking or arrangement by which any Person guarantees, endorses or otherwise becomes or is contingently liable upon (by direct or indirect agreement, contingent or otherwise, to provide funds for payment, to supply funds to, or otherwise to invest in, a debtor, or otherwise to assure a creditor against loss) the indebtedness, obligation or any other liability of any other Person (other than by endorsements of instruments in the course of collection), or guarantees the payment of dividends or other distributions upon the shares of any other Person. The amount of any Person’s obligation under any Contingent Liability shall (subject to any limitation set forth therein) be deemed to be the outstanding principal amount (or maximum outstanding principal amount, if larger) of the debt, obligation or other liability guaranteed thereby.

  • Intellectual Property Claim any claim or assertion (whether in writing, by suit or otherwise) that a Borrower’s or Subsidiary’s ownership, use, marketing, sale or distribution of any Inventory, Equipment, Intellectual Property or other Property violates another Person’s Intellectual Property.

  • Defects Liability Period means the warranty period following the taking over, during which the Contractor is responsible for making good, defects and damage in Goods and Services provided, under the Contract.