Several Liability definition

Several Liability means when more than one person or organisation are severally liable, each person is individually liable to only their part of the relevant obligation;
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Several Liability. If more than one party is referred to as Customer, then their obligations and liabilities shall be several, not joint.
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Several Liability means several liability under Treasury Regulation Section 1.1502-6 or any similar provision of state, local or foreign law for Taxes of any entity that was affiliated with UK Subsidiary while UK Subsidiary was owned by Seller or UK Seller, or any entity that was affiliated with Factory Power while Factory Power was owned by Seller, or any entity that was affiliated with Korean Subsidiary while Korean Subsidiary was owned by any subsidiary of Seller.
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Examples of Several Liability in a sentence

  • The Letter of Intent to enter into a JV or JV agreement should contain, inter alia, the following:- Names of the Lead Partner and each of the other members- Percentage share of each JV member- Confirmation of Joint and Several Liability of all members of the JV The JV is permissible at prequalification Stage only.

  • Joint and Several Liability: The Parties do hereby undertake to be jointly and severally responsible for all obligations and liabilities relating to the Consultancy and in accordance with the terms of the RFQ cum RFP and the Contract, for the performance of the Contract.

  • Such transfer of Account assets does not release the deceased Depositor nor their estate from section 2.5, Joint and Several Liability.

  • Joint and Several Liability: The Parties do hereby undertake to be jointly and severally responsible for all obligations and liabilities relating to the Consultancy and in accordance with the terms of the RFQ CUM RFP and the Contract, for the performance of the Contract.

  • B-3B2.3.2 Joint and Several Liability Statement ...............................................................

  • Joint and Several Liability: - a) The Parties do hereby undertake to be jointly and severally responsible for all obligations and liabilities relating to the Project and in accordance with the terms of the Bid Documents, Letter of Award (LoA), and Concession Agreement.

  • GC 24 Joint and Several Liability If at any time there is more than one legal entity constituting the Consultant, their covenants under the Standing Offer and/or Call-Up shall be considered to be joint and several and apply to each and every entity.

  • Such payment does not release the deceased Depositor nor their estate from section 2.5, Joint and Several Liability.

  • This Joint Venture Agreement shall have , inter-alia, following Clauses: 12.1 Joint And Several Liability - Members of the JV Firm to which the contract is awarded, shall be jointly and severally liable to the BSNL for execution of the project in accordance with General and Special Conditions of Contract.

  • Joint and Several Liability 9.1 If the Contractor is a joint venture of two or more entities , all such entities shall be jointly and severally liable to the Employer for the fulfillment of the provisions of the Contract, and shall designate one of such persons to act as a leader with authority to bind the joint venture.


More Definitions of Several Liability

Several Liability. If two or more corporations, partnerships or other business associations (or any combination of two or more thereof constitute the Landlord in this Lease, the liability of each such corporation, partnership or other business association hereunder is several. In the event of default by the Landlord under this Lease, the Tenant agrees that should it proceed against such corporations, partnerships or other business associations, it shall do so only in accordance with their several interests, as they may be from time to time.
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Several Liability. The subscribing reinsurers’ obligations under contracts of reinsurance to which they subscribe are several and not joint and are limited solely to the extent of their individual subscriptions. The subscribing reinsurers are not responsible for the subscription of any co-subscribing reinsurer who for any reason does not satisfy all or part of its obligations. 08/94, LSW1001 (Reinsurance).
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Several Liability. The subscribing reinsurers’ obligations under contracts of reinsurance to which they subscribe are several and not joint and are limited solely to the extent of their individual subscriptions. The subscribing reinsurers are not responsible for the subscription of any co-subscribing reinsurer who for any reason does not satisfy all or part of its obligations. 08/94, LSW1001 (Reinsurance). Willis 2006 RESIDENTIAL PROPERTY CATASTROPHE EXCESS OF LOSS REINSURANCE AGREEMENT PLACEMENT SLIP/WORDING Reference No.: DLXJ526 GENERAL CONDITIONS ISLAND HERITAGE INSURANCE COMPANY LIMITED, GRAND CAYMAN, CAYMAN ISLANDS Xxxxxx Re Inc., 0000 Xxxxxxxx Xxxxxx, Xxxxx 0000, Xxxxx XX 00000, X.X.X, Xxxxxx Re Inc., 4th Floor, Wall Street Plaza, New York, New York 10005, U.S.A and Xxxxxx Limited, Ten Trinity Square, London EC3P 3AX. Reference : DLXJ526 Reinsured : Island Heritage Insurance Company Limited Type : Residential Property Catastrophe Excess of Loss Reinsurance Agreement GENERAL CONDITIONS
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Several Liability. The words "each Borrower hereunder" in Section 1.6 are deleted and the words:
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Several Liability means liability separate and distinct from the liability of another to the extent that an independent action may be brought without joinder of others.
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Related to Several Liability

  • General Liability means:Your legal liability in respect of Personal Injury and/or Property Damage and/or Advertising Injury caused by or arising out of an Occurrence happening in connection with the Business other than Products Liability.

  • General Liability Insurance Subcontractor shall carry minimum primary General Liability Insurance for the following amounts:

  • Personal liability means personal liability for a debt, liability, or other obligation of an organization which is imposed on a person that co-owns, has an interest in, or is a member of the organization:

  • Products Liability means:Your legal liability in respect of Personal Injury and/or Property Damage caused by or arising out of any Products or the reliance upon a representation or warranty made at any time with respect to such products; but only where such Personal Injury and/or Property Damage occurs away from premises owned or leased by or rented to You and after physical possession of such products has been relinquished to others.

  • 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.

  • 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.

  • Limit of Indemnity means the amount stated in the Schedule pursuant to Clause 5 of this Policy.

  • Liability Cap has the meaning ascribed to it in paragraph 1 of Schedule 9;

  • Limit of Liability means, with respect to any Insuring Agreement, the limit of liability of the Underwriter for any Single Loss covered by such Insuring Agreement as set forth under the heading “Limit of Liability” in Item 3 of the Declarations or in any Rider for such Insuring Agreement.

  • Excess Insurance shall not apply to any insurance coverage currently held by The Government of Bermuda, or to our Self-Insured Retentions of whatever nature.

  • Indemnity Obligations means all obligations of the Company to Indemnitee under this Agreement, including the Company’s obligations to provide indemnification to Indemnitee and advance Expenses to Indemnitee under this Agreement.

  • Liability means any liability or obligation, whether known or unknown, asserted or unasserted, absolute or contingent, accrued or unaccrued, liquidated or unliquidated and whether due or to become due, regardless of when asserted.