Severability of Interest definition

Severability of Interest. Except with respect to the insurance company's limits of liability each liability insurance policy shall apply separately to each insured against whom claim or suit is brought. The inclusion of any person or organization as an insured shall not affect any right which such person or organization would have as a claimant if not so included. Aggregate Limits/Blanket Coverage: If any of the required insurance coverage contain aggregate limits, or apply to other operations or tenancy of Contractor not related to this Agreement, Contractor shall give LAHSA prompt, written notice of any incident, occurrence, claim, settlement or judgment against such insurance which in Contractors best judgment may diminish the protection such insurance affords LAHSA. Further, Contractor shall immediately take all reasonable and available steps to restore such aggregate limits or shall provide other insurance protection for such aggregate limits. LAHSA may at its option, specify a minimum acceptable aggregate for each line of coverage required. Self-Insurance and Self-Insured Retention’s: Self-insurance Programs and self-insured retention in insurance policies are subject to separate approval by LAHSA upon review of evidence of Contractor's financial capacity to respond. Additionally, such Programs or retention must provide LAHSA with at least the same protection from liability and defense of suits as would be afforded by first-dollar insurance. LAHSA will consider a self-insured Program or self-insured retention as an alternative to commercial insurance from Contractor upon review and approval of the following: A formal declaration to be self-insured for the type and amount of coverage indicated. This can be a corporate resolution or a certified statement from a corporate official or an authorized principal of a partnership or a sole proprietorship. Contractor must notify LAHSA immediately of discontinuation or substantial change in the Program. Agreement to provide LAHSA at least the same defense of suits and payment of claims as would be provided by first dollar commercial insurance. Agreement to notify LAHSA immediately of any claim, judgment, settlement, award, verdict or change in Contractor's financial condition which would have a significant negative effect on the protection that the self-insurance Program provides LAHSA. Name, address and telephone number of Contractor's legal counsel and claims representative, respectively, for the self-insurance Program. Financial stat...
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Severability of Interest. The Lessee 's insurance shall apply separately to each insured against whom claim is made or suit is brought, except with respect to the limits of the insurer's liability. Applicable to General Liability and Auto Liability policies.
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Severability of Interest or “Separation of Insureds” clause (CGL & BAL);
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Examples of Severability of Interest in a sentence

  • Such insurance is primary insurance and shall contain a Severability of Interest Clause as respects each insured.

  • Coverage shall include: Premises and Operations; Personal Injury and Advertising Liability; Products and completed operations; Independent Contractors Liability; Contractual Liability; Severability of Interest Clause; General Aggregate Limits of Insurance shall apply separately; “Claims Made” and “Modified Occurrence” policy forms are not acceptable.

  • Contractor shall agree to maintain a standard ISO version Commercial General Liability policy form, or its equivalent providing coverage for, but not be limited to, Bodily Injury and Property Damage, Premises/Operations, Products/Completed Operations, Independent Contractors, Contractual Liability, Broad Form Property Damage, X-C-U Coverages (if applicable), Severability of Interest including Cross Liability, and be in accordance with all of the limits, terms and conditions set forth herein.

  • This policy must be on an occurrence basis and provide coverage for: Abuse and Molestation; Severability of Interest between Named Insured's and Additional Insured's; Independent Subcontractors; Products and Completed Operations; Contractual Liability as standardly provided under ISO; Personal Injury Liability; and Hostile Fire Pollution.

  • All commercial general liability insurance policies (and Excess or Umbrella Liability Insurance policies, if applicable) shall provide that the City is an additional insured as to the operations of the Awardee/Contractor under the award/contract including the additional insured endorsement, the subrogation wavier endorsement, and the Severability of Interest Provision.

  • The policy shall be endorsed to contain the following coverage endorsements: Contractual liability must be included Waiver of Subrogation Severability of Interest If work is to be conducted within 50’ of a railroad or railroad right-of-way, any exclusions relating to railroads must be deleted from both the exclusions section and the definition of an insured contract.

  • Each specified insurance policy shall contain a Severability of Interest and Cross Liability clause and a Contractual Liability Endorsement which shall also apply to liability assumed by the insured under this Agreement with the City of Los Angeles.

  • Liability The referenced policies and any Excess or Umbrella policies shall contain either a Cross Liability endorsement or Severability of Interest Clause and stipulate that inclusion of the City of Nashua as an Additional Insured shall not in any way affect the City of Nashua’s rights either as respects any claim, demand, suit or judgment made, brought or recovered against the Contractor.

  • The policy includes a Cross-Liability and Severability of Interest, Blanket Form Contractual Liability, Owner’s and Contractor’s Protective Liability, Broad Form Property Damage, Contingent and/or Employer’s Liability, Non-Owned Automobile Liability, Products/Completed Operations and any other provision relevant to the contract work.

  • All Liability Policies of Concessionaire under this Agreement shall also provide the Severability of Interest Provision.

Related to Severability of Interest

  • Identity of Interest means a situation in which a Project Participant has a direct or indirect interest in the ownership of an entity which contracts with a Project Participant to provide land, goods, loans, financial support, or services for the project or where there is a financial, familial, or business relationship that permits less than arm’s length transactions.

  • Expression of Interest means a statement of qualifications submitted in response to and according to the terms of this Request for Expressions of Interest;

  • Calculation of Interest Interest on the Notes (including interest for partial periods) will be calculated on the basis of a 360-day year of twelve 30-day months. (Examples of interest calculations are as follows: October 1, 1998 to April 1, 1999 equals 6 months and 0 days, or 180 days; the interest paid equals 180/360 times the annual rate of interest times the principal amount of the Note. The period from December 3, 1998 to April 1, 1999 equals 3 months and 28 days, or 118 days; the interest payable equals 118/360 times the annual rate of interest times the principal amount of the Note.)

  • Specific Redemption Provisions means, with respect to a Special Dividend Period either, or any combination of, (i) a period (a "Non-Call Period") determined by the Board of Directors of the Corporation, after consultation with the Auction Agent and the Broker-Dealers, during which the shares of AMPS subject to such Dividend Period shall not be subject to redemption at the option of the Corporation and (ii) a period (a "Premium Call Period"), consisting of a number of whole years and determined by the Board of Directors of the Corporation, after consultation with the Auction Agent and the Broker-Dealers, during each year of which the shares of AMPS subject to such Dividend Period shall be redeemable at the Corporation's option at a price per share equal to $25,000 plus accumulated but unpaid dividends plus a premium expressed as a percentage of $25,000, as determined by the Board of Directors of the Corporation after consultation with the Auction Agent and the Broker-Dealers.

  • Tax Event Redemption means, if a Tax Event shall occur and be continuing, the redemption of the Notes, at the option of the Company, in whole but not in part, on not less than 30 days nor more than 60 days' written notice.

  • Fixed Rate of Interest means the rate of interest payable from time to time in respect of a Fixed Rate Tier 1 BCN or during the Fixed Interest Rate Period in respect of a Fixed/Floating Rate Tier 1 BCN and that is either specified in the relevant Pricing Schedule or calculated in accordance with the provisions in the relevant Pricing Schedule.

  • Tax Event Upon Merger has the meaning specified in Section 5(b).

  • Tax Event Redemption Date means the date upon which a Tax Event Redemption is to occur.

  • Tax Event Redemption Price means an amount equal to the unpaid principal amount of this Note to be redeemed, which shall be determined by multiplying (1) the Outstanding Principal Amount of this Note by (2) the quotient derived by dividing (A) the outstanding principal amount to be redeemed by Principal Life of the Funding Agreement by (B) the outstanding principal amount of the Funding Agreement.

  • Interest Rate Option means any LIBOR Rate Option or Base Rate Option.

  • Termination of irradiation means the stopping of irradiation in a fashion which will not permit continuance of irradiation without the resetting of operating conditions at the control panel.

  • Fourth Allocation of Principal means, with respect to any Payment Date, an amount equal to (1) the excess, if any, of (a) the sum of the Class A Note Balance, the Class B Note Balance, the Class C Note Balance and the Class D Note Balance as of such Payment Date (before giving effect to any principal payments made on the Notes on such Payment Date) over (b) the Pool Balance as of the end of the related Collection Period minus (2) the sum of the First Allocation of Principal, the Second Allocation of Principal and the Third Allocation of Principal for such Payment Date; provided, however, that the Fourth Allocation of Principal on and after the Final Scheduled Payment Date for the Class D Notes shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Class D Notes to zero (after the application of the First Allocation of Principal, the Second Allocation of Principal and the Third Allocation of Principal).

  • Redemption Provisions Initial Redemption Date: Initial Redemption Percentage: Annual Redemption Percentage Reduction, if any: Repayment Provisions: Optional Repayment Date(s):

  • Initial Rate of Interest means the initial rate of interest per annum specified as such in the relevant Final Terms;

  • Reset Rate of Interest means, in relation to a Reset Interest Period, the 7-year Mid-Swap Rate determined for such Reset Interest Period by the Fiscal Agent in accordance with Condition 5 (Interest);

  • Subsequent Reset Rate of Interest means, in respect of any Subsequent Reset Period and subject to Condition 4(b)(ii), the rate of interest determined by the Calculation Agent on the relevant Reset Determination Date as the sum of the relevant Mid-Swap Rate and the relevant Subsequent Margin.

  • Conditions of Tender means the Conditions of Tender for the said land as set out in Annexure A;

  • Redemption Rescission Event means the occurrence of (a) any general suspension of trading in, or limitation on prices for, securities on the principal national securities exchange on which shares of Common Stock or Marketable Securities are registered and listed for trading (or, if shares of Common Stock or Marketable Securities are not registered and listed for trading on any such exchange, in the over-the-counter market) for more than six-and-one-half (6-1/2) consecutive trading hours, (b) any decline in either the Dow Xxxxx Industrial Average or the S&P 500 Index (or any successor index published by Dow Xxxxx & Company, Inc. or S&P) by either (i) an amount in excess of 10%, measured from the close of business on any Trading Day to the close of business on the next succeeding Trading Day during the period commencing on the Trading Day preceding the day notice of any redemption of Securities is given (or, if such notice is given after the close of business on a Trading Day, commencing on such Trading Day) and ending at the time and date fixed for redemption in such notice or (ii) an amount in excess of 15% (or if the time and date fixed for redemption is more than 15 days following the date on which such notice of redemption is given, 20%), measured from the close of business on the Trading Day preceding the day notice of such redemption is given (or, if such notice is given after the close of business on a Trading Day, from such Trading Day) to the close of business on any Trading Day at or prior to the time and date fixed for redemption, (c) a declaration of a banking moratorium or any suspension of payments in respect of banks by Federal or state authorities in the United States or (d) the occurrence of an act of terrorism or commencement of a war or armed hostilities or other national or international calamity directly or indirectly involving the United States which in the reasonable judgment of the Company could have a material adverse effect on the market for the Common Stock or Marketable Securities.

  • Has a record of such impairment means has a history of, or has been misclassified as having, a mental or physical impairment that substantially limits one or more major life activities.

  • In this award, unless the contrary intention appears:Act means the Fair Work Act 2009 (Cth)[Definition of agreement-based transitional instrument inserted by PR994486 from 01Jan10] agreement-based transitional instrument has the meaning in the Fair Work (Transitional Provisions and Consequential Amendments) Act 2009 (Cth)award-based transitional instrument has the meaning in the Fair Work (Transitional Provisions and Consequential Amendments) Act 2009 (Cth)[Definition of default fund employee inserted by PR546067 ppc 01Jan14] default fund employee means an employee who has no chosen fund within the meaning of the Superannuation Guarantee (Administration) Act 1992 (Cth)[Definition of defined benefit member inserted by PR546067 ppc 01Jan14] defined benefit member has the meaning given by the Superannuation Guarantee (Administration) Act 1992 (Cth)[Definition of Division 2B State award inserted by PR503736 ppc 01Jan11] Division 2B State award has the meaning in Schedule 3A of the Fair Work (Transitional Provisions and Consequential Amendments) Act 2009 (Cth)[Definition of Division 2B State employment agreement inserted by PR503736 ppc 01Jan11] Division 2B State employment agreement has the meaning in Schedule 3A of theFair Work (Transitional Provisions and Consequential Amendments) Act 2009 (Cth)[Definition of employee substituted by PR997772 from 01Jan10] employee means national system employee within the meaning of the Act[Definition of employer substituted by PR997772 from 01Jan10] employer means national system employer within the meaning of the Actenterprise award-based instrument has the meaning in the Fair Work (Transitional Provisions and Consequential Amendments) Act 2009 (Cth) [Definition of exempt public sector superannuation scheme inserted by PR546067 ppc 01Jan14] exempt public sector superannuation scheme has the meaning given by theSuperannuation Industry (Supervision) Act 1993 (Cth)[Definition of MySuper product inserted by PR546067 ppc 01Jan14] MySuper product has the meaning given by the Superannuation Industry (Supervision) Act 1993 (Cth)NES means the National Employment Standards as contained in sections 59 to 131 of the Fair Work Act 2009 (Cth)[Definition of on-hire inserted by PR994486 from 01Jan10] on-hire means the on-hire of an employee by their employer to a client, where such employee works under the general guidance and instruction of the client or a representative of the clientstandard rate means the minimum weekly wage for a Storeworker grade 4 in clause 15.1steel distributing employee means an employee working for an employer at a site in or in connection with receiving, unloading, storing, packing, sorting, handling, cutting material to order, preparation for dispatch, loading and dispatch of steel or any similar materialstorage services and wholesale industry means the receiving, handling, storing, freezing, refrigerating, bottling, packing, preparation for sale, sorting, loading, dispatch, delivery, or sale by wholesale, of produce, goods or merchandise as well as activities and processes connected, incidental or ancillary[Definition of transitional minimum wage instrument inserted by PR994486 from 01Jan10] transitional minimum wage instrument has the meaning in the Fair Work (Transitional Provisions and Consequential Amendments) Act 2009 (Cth)wholesale means the sale of commodities in large quantities other than to final consumers

  • Has a record of such an impairment means has a history of, or has been misclassified as having, a mental or physical impairment that substantially limits one or more major life activi- ties.

  • Termination Events means each of the events specified in Clause 10.3 of this Contract.

  • First Reset Rate of Interest means, in respect of the First Reset Period and subject to Condition 5.2(b), the rate of interest determined by the Calculation Agent on the relevant Reset Determination Date as the sum of the Reference Rate and the First Margin;

  • Interest rate as described in division (A) of this section means the federal short-term rate, rounded to the nearest whole number percent, plus five percent. The rate shall apply for the calendar year next following the July of the year in which the federal short-term rate is determined in accordance with division (A)(2) of this section.

  • Floating Rate Option has the meaning given to it in the ISDA Definitions;