Underlying Insurance Policy definition

Underlying Insurance Policy means, with respect to any Underlying Collateral, the insurance policy maintained by or on behalf of the Obligor pursuant to the related Contract that covers physical damage to the related Equipment (in an amount sufficient to insure completely the value of such Equipment) and general liability (including policies procured by the Borrower or the Servicer, or any agent thereof, on behalf of the Obligor).
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Underlying Insurance Policy means the primary insurance policy and each excess policy other than this Policy covering the first party liability and/or property risks of the Insured with respect to the Insured Property, issued by the Underlying Insurer identified in Item 12 of the Declarations, but shall not mean any third party nuclear energy liability policy issued by American Nuclear Insurers, Nuclear Energy Liability Insurance Association, Mutual Atomic Energy Liability Underwriters or other third party liability insurer or other third party entity.
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Underlying Insurance Policy signifies the Insurance Policy covering Physical Damage (collision, fire and theft, comprehensive coverage) for the Described Vehicle issued in British Columbia; j."Underlying Insurer" signifies the legal entity in British Columbia who issued the Underlying Insurance Policy;
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Examples of Underlying Insurance Policy in a sentence

  • A condition of the Comprehensive Underlying Insurance Policy which suspends cover, either partly or wholly, pending the implementation of a requirement in terms of that Policy.

  • The Event which gave rise to Your claim in terms of the Comprehensive Underlying Insurance Policy, on the Date of Loss.

  • Cover is limited to Events occurring in the territorial limits as specified in Your Comprehensive Underlying Insurance Policy.

  • Where liability under the Comprehensive Underlying Insurance Policy is denied and a non-contractual partial or full settlement of the claim is made without prejudice.

  • The date on which Your account with the Credit Provider is credited with the payment from the Comprehensive Underlying Insurer in settlement of Your claim in terms of Your Comprehensive Underlying Insurance Policy.

  • Where liability under the Comprehensive Underlying Insurance Policy is denied and a non- contractual partial or full settlement of the claim is made without prejudice.

  • Cover is limited to Events occurring in the territorial limits as specified in YourComprehensive Underlying Insurance Policy.

  • If any claim under the Comprehensive Underlying Insurance Policy or this Policy is in any way misrepresented or if anyfraudulent means are used by You or anyone acting on Your behalf to obtain any benefit under this Policy, or if any of the Events Insured against are occasioned by Your intentional act, or with Your connivance, all benefits under this Policy shall be forfeited, and the Policy will be voidable and Premiums paid returned to you.

  • If any claim under the Comprehensive Underlying Insurance Policy or this Policy is in any way misrepresented or if any fraudulent means are used by You or anyone acting on Your behalf to obtain any benefit under this Policy, or if any of the Events Insured against are occasioned by Your intentional act, or with Your connivance, all benefits under and the Premiums paid in terms of this Policy shall be forfeited, and the Policy will be voidable at Our option.

  • The Event which gave rise to Your claim in terms of the Comprehensive Underlying Insurance Policy.


More Definitions of Underlying Insurance Policy

Underlying Insurance Policy means the primary insurance policy and each excess policy other than this Policy covering the first party liability and/or property risks of the Insured with respect to the Insured Property, but shall not mean any third party nuclear energy liability policy pursuant to which the Insured is either covered, would be entitled to coverage, or can make a claim against any third party insured under a nuclear energy liability policy issued by any third party liability insurer.
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Related to Underlying Insurance Policy

  • Underlying insurance means the DESIGNATED UNDERLYING POLICY and all insurances affording professional liability insurance coverage to any INSURED hereunder which are considered to be primary to this insurance, including without limitation, any such mandatory insurance coverage afforded any INSURED by any law society or other program, and any such non-mandatory insurances purchased as coverage or primary to (beneath) this POLICY coverage, but in no case shall include any insurance specifically acquired and stated to be in excess of this POLICY. Signed on behalf of Lawyers’ Professional Indemnity CompanyDaniel E. PinningtonDaniel E. PinningtonPresident and Chief Executive Officer Endorsement No . 1pollutIon exClusIonThis POLICY, subject to all its terms and conditions not in conflict with this endorsement, and further to Part III Exclusion (g), shall include the following:This insurance does not apply to:(a) damage arising out of the actual, alleged or threatened discharge, seepage, dispersal, release or escape of pollutants:

  • Insurance Policy With respect to any Mortgage Loan included in the Trust Fund, any insurance policy, including all riders and endorsements thereto in effect, including any replacement policy or policies for any Insurance Policies.

  • R&W Insurance Policy has the meaning set forth in Section 6.15.

  • Certificate Insurance Policy The Financial Guaranty Insurance Policy No. CA01172A, and all endorsements thereto dated the Closing Date, issued by the Certificate Insurer for the benefit of the Class AF-3 Certificateholders.

  • Hazard Insurance Policy means, with respect to each Contract, the policy of fire and extended coverage insurance (and federal flood insurance, if the Manufactured Home is secured by an FHA/VA Contract and such Manufactured Home is located in a federally designated special flood area) required to be maintained for the related Manufactured Home, as provided in Section 5.09, and which, as provided in said Section 5.09, may be a blanket mortgage impairment policy maintained by the Servicer in accordance with the terms and conditions of said Section 5.09.

  • Blanket insurance policy means a group policy covering a defined class of

  • Insurance Policies has the meaning set forth in Section 3.16.

  • Bond Insurance Policy means the municipal bond insurance policy, if any, issued by the Bond Insurer that guarantees payment of principal of and interest on the Bonds and constitutes a Bond Facility under the Indenture.

  • Primary Mortgage Insurance Policy Any primary mortgage guaranty insurance policy issued in connection with a Mortgage Loan which provides compensation to a Mortgage Note holder in the event of default by the obligor under such Mortgage Note or the related Security Instrument, if any or any replacement policy therefor through the related Interest Accrual Period for such Class relating to a Distribution Date.

  • Title Insurance Policy A title insurance policy maintained with respect to a Mortgage Loan.

  • Primary Insurance Policy Each policy of primary mortgage guaranty insurance or any replacement policy therefor with respect to any Mortgage Loan.

  • Required Insurance Policy With respect to any Mortgage Loan, any insurance policy that is required to be maintained from time to time under this Agreement.

  • Special Primary Insurance Policy Any Primary Insurance Policy covering a Mortgage Loan the premium of which is payable by the Trustee pursuant to Section 4.04(a), if so identified in the Mortgage Loan Schedule. There are no Special Primary Insurance Policies with respect to any of the Mortgage Loans.

  • Reimbursement insurance policy means a policy of insurance

  • Title Insurance Policies means, with respect to each Individual Property, an ALTA mortgagee title insurance policy in a form acceptable to Lender (or, if an Individual Property is in a State which does not permit the issuance of such ALTA policy, such form as shall be permitted in such State and acceptable to Lender) issued with respect to such Individual Property and insuring the lien of the Mortgage encumbering such Individual Property.

  • FHA Insurance means the Federal mortgage insurance authorized pursuant to Section 220, 221(d)(3), 221 (d)(4) or 223(f) of Title II of the National Housing Act of 1934, as amended.

  • Standard Hazard Insurance Policy means a fire and casualty extended coverage insurance policy in such amount and with such coverage as required by this Agreement.

  • Insurer means a person who insures or guarantees for the benefit of the mortgagee all or any portion of the risk of loss upon borrower default on any of the mortgage loans originated, purchased or serviced by the Company or any of its Subsidiaries, including the Federal Housing Administration, the United States Department of Veterans’ Affairs, the Rural Housing Service of the U.S. Department of Agriculture and any private mortgage insurer, and providers of hazard, title or other insurance with respect to such mortgage loans or the related collateral.

  • Life Insurance Policy has the meaning given in Section 6.11.

  • Company Insurance Policies has the meaning set forth in Section 4.15.

  • Mortgage Impairment Insurance Policy A mortgage impairment or blanket hazard insurance policy as described in Section 4.11.

  • Existing insurer means the insurance company whose policy or contract is or will be changed or affected in a manner described within the definition of “replacement.”

  • Environmental Insurance Policy means, with respect to any Mortgage Loan or the related Mortgaged Property or REO Property, any insurance policy covering pollution conditions and/or other environmental conditions that is maintained from time to time in respect of such Mortgage Loan, Mortgaged Property or REO Property, as the case may be, for the benefit of, among others, the Trustee on behalf of the Certificateholders.

  • Insurance means (i) all insurance policies covering any or all of the Collateral (regardless of whether the Collateral Agent is the loss payee thereof) and (ii) any key man life insurance policies.

  • Policy means Related Party Transaction Policy.

  • Insurance Report means an insurance report in respect of the Insurances confirming that such Insurances are placed with such insurers, insurance companies and/or clubs in such amounts, against such risks and in such form as acceptable to the Agent (acting on the instructions from the Finance Parties) and comply with the requirements under Clause 26.3 (Insurance) and the GIEK Guarantee prepared by Bank Assure Insurance Services Inc., or such other reputable insurance advisor approved by the Agent, and dated on or about 11 June 2010 and addressed to, and capable of being relied upon by, the Finance Parties.