Mortgage Impairment Contingency Policy means the indemnity policy written by Chubb Insurance Company of Europe S.A. in respect of any loss suffered by the insured arising by reason of damage to Property occurring as a direct result of the inadvertent failure of the Borrower to effect or renew adequate insurance cover, to make or pursue a legitimate insurance claim or to utilise the proceeds of any claim to repair such damage (being at the date hereof the policy numbered no. UKMSTC91470) or any other insurance policy of similar effect written by another reputable insurance company carrying on business in the United Kingdom with similar standing;
Mortgage Impairment Contingency Policy means the indemnity policy written by Chubb Insurance Company of Europe S.A. in respect of any loss suffered by the insured arising by reason of (i) damage to Property occurring as a direct result of the failure of the Borrower to effect or renew adequate insurance cover, to make or pursue a legitimate insurance claim or to utilise the proceeds of any claim to repair such damage and (ii) an inadvertent omission on the part of the insured to ensure that buildings insurance is in place on any property where it has an interest as mortgagee (being at the date hereof the policy numbered no. 35758567) or any other insurance policy of similar effect written by another reputable insurance company carrying on business in the United Kingdom with similar standing;
Mortgage Impairment Contingency Policy means the indemnity policy written by Chubb Insurance Company of Europe S.A., in respect of:
Examples of Mortgage Impairment Contingency Policy in a sentence
The Administrators shall use reasonable endeavours to keep the Mortgage Impairment Contingency Policy (or, in each case, such other policy or policies providing equivalent cover) in full force and effect other than assuming any liability for the premium thereon.