Underlying Claim definition

Underlying Claim means any claim for civil liability (covered for the time being under the Guidelines) made against a Member which may give rise to a Liability; but also includes a claim which may give rise to a Liability to a Member under any other category of risk to that Member which the Guidelines of the Scheme may properly have been extended to cover pursuant to the terms of this deed.

Underlying Claim shall have the meaning ascribed to it in Section 4.2(b).

Underlying Claim shall have the meaning ascribed to it in Section 4.2(b). [*] CERTAIN PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED BASED UPON A REQUEST FOR CONFIDENTIAL TREATMENT AND THE NON-PUBLIC INFORMATION HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION. B-3

Examples of Underlying Claim in a sentence

• The failure by the Indemnifying Parties to elect to assume the defense of any such Underlying Claim within such fifteen (15) day period shall entitle the Indemnified Parties to undertake control of the defense of the Underlying Claim on behalf of and for the account and risk of the Indemnifying Parties in such manner as the Indemnified Parties may deem appropriate, including, but not limited to, settling the Underlying Claim.

• In the event that an Indemnity Claim is accepted as valid, the Indemnifying Parties shall, within fifteen (15) Business Days thereafter, pay the damages incurred by the Indemnified Parties in respect of the Underlying Claim in cash by wire transfer of immediately available funds to the account or accounts specified by the Indemnified Parties.

• However, the parties controlling the defense of the Underlying Claim shall not settle or compromise such Underlying Claim without the prior written consent of the other parties, which consent shall not be unreasonably withheld or delayed.

• The parties controlling the defense of the Underlying Claim shall not, however, settle or compromise such Underlying Claim without the prior written consent of the other parties, which consent shall not be unreasonably withheld or delayed.

• In the event that an Indemnity Claim is accepted as valid, the Indemnifying Parties shall, within fifteen (15) business days thereafter, pay Losses incurred by the Indemnified Parties in respect of the Underlying Claim in cash by wire transfer of immediately available funds to the account or accounts specified by the Indemnified Parties.

More Definitions of Underlying Claim

Underlying Claim has the meaning given to it in Clause 14.3.2;

Underlying Claim means the claim by a third-party

Underlying Claim means the claim by a third-party claimant against an insured.

Underlying Claim has the meaning given to that term in paragraph 12 of Schedule 5;

Underlying Claim shall have the meaning set forth in Section 1.1 of the Purchase Agreement.

Underlying Claim has the meaning given in paragraph 3.2 of Schedule 7 (Limitations on the Sellers’ and AMS04 SPV Seller’s liability);

Underlying Claim has the meaning given to it in paragraph 5.1 of Schedule 6;