Shared Limit of Liability definition

Shared Limit of Liability means the applicable Shared Limit of Liability, if any, stated in ITEM 4 of the Declarations, which limit of liability shall be shared between all Liability Coverage Sections listed below such Shared Limit of Liability in the Declarations.
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Shared Limit of Liability means the Shared Limit of Liability, if any, which shall be applicable to and shared between two or more Coverage Sections, as listed below such Shared Limit of Liability in Item 3 of the Declarations.
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Shared Limit of Liability means the Shared Limit of Liability (to the extent elected for a Coverage Part) set forth in Item 4. of the Declarations.
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Examples of Shared Limit of Liability in a sentence

  • Unless specifically stated otherwise, the insurance provided under this policy shall apply only as excess over any other valid and collectible insurance, unless such other insurance is written as specific excess insurance over the Aggregate Limit of Liability or Shared Limit of Liability provided by this policy.

  • Any such Shared Limit of Liability shall be part of, and not in addition to, the Policy Aggregate Limit of Liability stated in ITEM 4 of the Declarations and shall in no way serve to increase such Policy Aggregate Limit of Liability.

  • This sharing is an important aspect of ensuring that parties involved with the identification of, the excavation around, and the general protection of underground facilities have adequate information to protect underground infrastructures.

  • The Additional Defense Limit of Liability will be in addition to, and not part of, such Liability Coverage’s applicable Liability Coverage Limit of Liability or Liability Coverage Shared Limit of Liability, if applicable.

  • The Shared Limit of Liability is a sublimit of and erodes the Policy Year Aggregate Limit of Liability set forth in Item 3.

  • Such Supplemental Personal Indemnification Limit of Liability will not exceed the amount set forth in ITEM 5 of the Declarations, which amount is in addition to and not part of the Liability Coverage Limit of Liability or Liability Coverage Shared Limit of Liability, if applicable.

  • Such insurance as is provided by this Coverage Section shall apply only as excess over any other valid and collectible insurance, unless such other insurance is specifically written as excess insurance over the applicable Separate Limit of Liability or Shared Limit of Liability provided by this Coverage Section.

  • However, the Insurer shall not be obligated to defend such Claim after the Policy Aggregate or any applicable Separate Limit of Liability or Shared Limit of Liability has been exhausted, or after an Insured’s rejection (or failure or refusal to accept within the time prescribed in the “Settlement Opportunity” paragraph of this Clause 7) of a Settlement Opportunity.

  • If ITEM 5 of the Declarations indicates that coverage for Supplemental Personal Indemnification Coverage has been purchased, and if the Liability Coverage Limit of Liability under this Liability Coverage or a Liability Coverage Shared Limit of Liability, if applicable, has been exhausted, the Company will provide the Insured Persons with an additional Supplemental Personal Indemnification Limit of Liability under Insuring Agreement A.

  • The Insurer shall not, however, be obligated to defend any Claim after the Policy Aggregate or any applicable Separate Limit of Liability or Shared Limit of Liability has been exhausted.

Related to Shared Limit of Liability

  • 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.

  • Limitation of Liability PrimePay has negotiated preferred terms and conditions with FD as a service to PrimePay Clients. Client understands that FD, and not PrimePay, will be performing those services and that Client will enter its own service agreement(s) with FD for such services under terms and conditions specified by FD and agreed to by Client. Accordingly, Client acknowledges that FD shall be the provider of Payment Processing Services hereunder and that PrimePay shall have no liability whatsoever for or related to the performance of those services, including any and all damages, costs and related expenses (including attorney fees).

  • Maximum Liability has the meaning assigned to such term in Section 10.10.

  • AND LIABILITY LIMITS State Street shall assume no responsibility for lost interest with respect to the refundable amount of any unauthorized payment order, unless State Street is notified of the unauthorized payment order within thirty (30) days of notification by State Street of the acceptance of such payment order. In no event shall State Street be liable for special, indirect or consequential damages, even if advised of the possibility of such damages and even for failure to execute a payment order.

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

  • Indemnity Cap has the meaning set forth in Section 9.2(b).

  • Indemnification Obligations means each of the Debtors’ indemnification obligations in place as of the Effective Date, whether in the bylaws, certificates of incorporation or formation, limited liability company agreements, other organizational or formation documents, board resolutions, management or indemnification agreements, or employment or other contracts, for their current and former directors, officers, managers, members, employees, attorneys, accountants, investment bankers, and other professionals and agents of the Debtors.

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

  • Loss in Excess of Policy Limits shall be defined as Loss in excess of the Policy limit, having been incurred because of, but not limited to, failure by the Company to settle within the Policy limit or by reason of alleged or actual negligence, fraud or bad faith in rejecting an offer of settlement or in the preparation of the defense or in the trial of any action against its insured or reinsured or in the preparation or prosecution of an appeal consequent upon such action.

  • Lead Limits means the maximum concentrations of lead and lead compounds (“Lead”) by weight specified in Section 3.2.

  • Indemnification Cap has the meaning set forth in Section 9.4(a).

  • 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.

  • Indemnification Obligation means any existing or future obligation of any Debtor to indemnify current and former directors, officers, members, managers, sponsors, agents or employees of any of the Debtors who served in such capacity, with respect to or based upon such service or any act or omission taken or not taken in any of such capacities, or for or on behalf of any Debtor, whether pursuant to agreement, letters, the Debtors’ respective memoranda, articles or certificates of incorporation, corporate charters, bylaws, operating agreements, limited liability company agreements, or similar corporate or organizational documents or other applicable contract or law in effect as of the Effective Date.

  • Defects Liability Expiry Certificate means the certificate to be issued by the Client to the Contractor, in accordance with the Contract.

  • Indemnity, Subrogation and Contribution Agreement means the Indemnity, Subrogation and Contribution Agreement among Xxxxx 0, the Borrower, the Subsidiary Loan Parties and the Collateral Agent, substantially in the form of Exhibit C-3.

  • Legal Liability means responsibility which courts recognize and enforce between persons who sue one another.

  • Indemnity Matters means any and all actions, suits, proceedings (including any investigations, litigation or inquiries), claims, demands and causes of action made or threatened against a Person and, in connection therewith, all losses, liabilities, damages (including, without limitation, consequential damages) or reasonable costs and expenses of any kind or nature whatsoever incurred by such Person whether caused by the sole or concurrent negligence of such Person seeking indemnification.

  • Cumulative Shared-Loss Payments means (i) the aggregate of all of the payments made or payable to the Assuming Bank under the Shared-Loss Agreements minus (ii) the aggregate of all of the payments made or payable to the Receiver under the Shared-Loss Agreements.

  • Loss Payable Clauses means the provisions regulating the manner of payment of sums receivable under the Insurances which are to be incorporated in the relevant insurance document, such Loss Payable Clauses to be in the forms set out in paragraph 4 of this Schedule, or such other form as the Bank may from time to time agree in writing;

  • Bankruptcy Loss Coverage Amount As of any date of determination, the Bankruptcy Loss Coverage Amount shall equal the Initial Bankruptcy Loss Coverage Amount as reduced by (i) the aggregate amount of Bankruptcy Losses allocated to the Certificates since the Cut-off Date and (ii) any permissible reductions in the Bankruptcy Loss Coverage Amount as evidenced by a letter of each Rating Agency to the Trustee to the effect that any such reduction will not result in a downgrading, qualification or withdrawal of the then current ratings assigned to the Classes of Certificates rated by it.

  • Hovercraft Liability This policy does not cover "hovercraft liability".

  • Fraud Loss Coverage Amount As of the Closing Date, $2,748,787, subject to reduction from time to time, by the amount of Fraud Losses allocated to the Certificates. In addition, on each anniversary of the Cut-off Date, the Fraud Loss Coverage Amount will be reduced as follows:

  • Initial Bankruptcy Loss Coverage Amount $226,715.

  • Cumulative Shared-Loss Amount means the excess, if any, of the Cumulative Loss Amount over the First Loss Tranche.

  • Errors and Omissions Insurance Policy means an errors and omissions insurance policy maintained by the Master Servicer, the Special Servicer, the Trustee, the Custodian or the Certificate Administrator, as the case may be, in accordance with Section 8.2, Section 9.2 and Section 7.17, respectively.

  • 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.