Shared Assurance definition
Shared Assurance means any guarantee, indemnity or other assurance against loss in respect of any of the Liabilities, the benefit of which (however conferred) is, to the extent legally possible, given to all the Secured Parties in respect of their Liabilities.
Shared Assurance means any guarantee, indemnity or other assurance against loss in respect of any of the Liabilities granted by the Debtors from time to time, the benefit of which (however conferred) is, to the extent legally possible and subject to the Guarantee Limitations, given to all the Primary Creditors in respect of their Liabilities under the relevant Debt Documents (including where the Primary Creditors have, to the extent legally possible and subject to the Guarantee Limitations, separate but equivalent guarantees, indemnities or assurances against loss in respect of their relevant Liabilities).
Examples of Shared Assurance in a sentence
Provided that nothing in this sub-clause shall prevent the Head of Shared Assurance Services from contacting an external auditor, or any law enforcement agency without informing the relevant service manager and the Section 151 Officer, as appropriate.
The Host Authority will undertake the completion of the Annual Shared Assurance Service Plan as required under the Administrative Collaboration Agreement for the Financial Shared Service Arrangement (FSSA).