Settlement Program Notice definition

Settlement Program Notice means a prior written notice to the Insurer by the Company of its intent to enter into a Settlement Program that includes a detailed description of the Wrongful Act for which notice shall be given under the Settlement Program.
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Settlement Program Notice means a prior written notice to the Company by the Insured of the Insured’s intent to enter into a Settlement Program.
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Settlement Program Notice means prior written notice to the Insurer by any Insured of the Insured’s intent to enter into a Settlement Program.
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Examples of Settlement Program Notice in a sentence

  • The Underwriter shall pay on behalf of the Insureds any Voluntary Settlement and Defense Expenses which the Insureds become legally obligated to pay resulting from a Voluntary Settlement Program Notice first given to the Underwriter during the Policy Period, provided such Voluntary Settlement and Defense Expenses are incurred after such Voluntary Settlement Program Notice is first given to the Underwriter.

  • If an Insured elects to seek coverage for a Fiduciary Inquiry or a Voluntary Settlement Program Notice, the Insured shall give notice of such Fiduciary Inquiry or Voluntary Settlement Program Notice to the Underwriter no later than ninety (90) days after the expiration of the Policy Period or Extended Reporting Period, if exercised.

  • The Insurer shall pay a Voluntary Settlement and Defense Costs on behalf of the Insureds resulting from a Settlement Program Notice first given to the Insurer during the Policy Period or Extended Reporting Period, if applicable, provided such Voluntary Settlement and Defense Costs are incurred after such Settlement Program Notice is first given to the Insurer.

  • The Company’s maximum limit of liability for all Settlement Fees and Defense Expenses in connection with a Settlement Program Notice will be the amount set forth in ITEM 5 of the Declarations as the Settlement Program Limit of Liability, which amount is included within, and not in addition to, any applicable limit of liability.

  • However, if ITEM 5 of the Declarations indicates that Additional Defense Coverage is applicable, Defense Expenses incurred in connection with a Settlement Program Notice will apply first to and reduce the remaining Additional Defense Limit of Liability; provided that the Settlement Program Limit of Liability will be reduced and may be exhausted by payment of such Defense Expenses under the Additional Defense Limit of Liability.

  • Settlement Fees and Defense Expenses incurred with respect to a Settlement Program Notice will be subject to the applicable Retention set forth in ITEM 5 of the Declarations.

  • The Underwriter shall pay, on behalf of the Insureds, Settlement Fees and Defense Expenses with respect to a Settlement Program Notice first given to the Underwriter during the Policy Period or applicable Extended Reporting Period; provided, that such Settlement Fees and Defense Expenses are incurred after such Settlement Program Notice is first given to the Underwriter.

  • The Insured will not enter into a Settlement Program or incur any Defense Expenses in connection with a Settlement Program Notice or Settlement Fees without the Company’s prior written consent, such consent not to be unreasonably withheld.

  • If a Claim results in a Settlement Program Notice, the applicable Retentions will be applied separately to such Claim and Settlement Program Notice, respectively, but the sum of such Retentions will not exceed the largest of such Retentions.


More Definitions of Settlement Program Notice

Settlement Program Notice means prior written notice to the Underwriter by anInsured of the Insured’s intent to enter into a Settlement Program.
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Settlement Program Notice means a prior written notice given to the Insurer indicating an Insured’s intent to enter into a Settlement Program during the Policy Period.
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Settlement Program Notice means a written notice to us by the " insured" of the "insured's" intent to enter into a "settlement program".
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Settlement Program Notice means a prior written notice to the Company by the Insured evidencing theInsured’s intent to enter into a Settlement Program.
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Settlement Program Notice means prior written notice to the Insurer by any
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Settlement Program Notice means prior written notice to the Insurer by any Insured of such Insured'sintent to enter into a Settlement Program.
Sample 1

Related to Settlement Program Notice

  • Settlement Cycle means the period of Clearance System Business Days following a transaction on the Relevant Exchange in the Underlying, during which period settlement will customarily take place according to the rules of such Relevant Exchange.

  • Settlement Class means, in respect of each Proceeding, the settlement class defined in Schedule A.

  • Settlement Website means the website created and maintained by the Settlement Administrator which will contain, among other things, the Notice and Claim Forms, and documents related to the settlement.

  • Payment Initiation Service Provider or “PISP” means an authorised third party provider which provides a service that allows that third party to pass payment instructions to us on your behalf in relation to your Account.

  • Settlement Hearing means the hearing set by the Court under Rule 23(e)(2) of the Federal Rules of Civil Procedure to consider final approval of the Settlement.