Uninsurable Risks definition

Uninsurable Risks means:-
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Uninsurable Risks means wear and tear, depreciation, fungus, rot, vermin or insect damage, mechanical or electrical fault, process of cleaning, repairing, restoration, renovating or any gradually operating cause or process.
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Uninsurable Risks means Compensable Damages for risks that, in the Minister’s opinion, would not be assumed by an Approved Insurer, and includes, if applicable, those Compensable Damages that exceed the Operator’s Liability as a result of a regulation made under paragraph 24(2)(b) of the Act.
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Examples of Uninsurable Risks in a sentence

  • When there is an Uninsurable Risk for which Project Co or the Authority, as applicable is responsible to obtain insurance under Schedule 5 [Insurance Requirements] Project Co or the Authority, as applicable, will approach the insurance market on a regular basis and in any event at regular intervals of no longer than six months to establish whether the Uninsurable Risks remain Uninsurable.

  • When there is an Uninsurable Risk for which Project Co is responsible to obtain insurance under Schedule 5 [Insurance Requirements] Project Co will approach the insurance market on a regular basis and in any event at regular intervals of no longer than six months to establish whether the Uninsurable Risks remain Uninsurable.

  • When there is an Uninsurable Risk for which Project Co or BC Hydro, as applicable is responsible to obtain insurance under Schedule 18 [Insurance Requirements] Project Co or BC Hydro, as applicable, will approach the insurance market on a regular basis and in any event at regular intervals of no longer than six months to establish whether the Uninsurable Risks remain Uninsurable.

  • When there is an Uninsurable Risk for which Project Co or the Authority, as applicable, is responsible to obtain insurance under Schedule 5 [Insurance], Project Co or the Authority, as applicable, will approach the insurance market on a regular basis and in any event at regular intervals of no longer than six months to establish whether the Uninsurable Risks remain Uninsurable.

  • When there is an Uninsurable Risk for which Project Co or the Province, as applicable is responsible to obtain insurance under Schedule 5 [Insurance Requirements], Project Co or the Province, as applicable, will approach the insurance market on a regular basis and in any event at regular intervals of no longer than six months to establish whether the Uninsurable Risks remain Uninsurable.

  • Un-insurable Risks If during the Concession Period, any risk which has been previously insured becomes un-insurable due to the fact that the insurers have ceased to insure such a risk and therefore insurance cannot be maintained/ re-instated in respect of such risk, the Concessionaireshall not be deemed to be in breach of its obligations regarding insurance under this Agreement.

  • Un-insurable Risks If during the Concession Period, any risk which has been previously insured becomes un-insurable due to the fact that the insurers have ceased to insure such a risk and therefore insurance cannot be maintained/re-instated in respect of such risk, the Concessionaire shall not be deemed to be in breach of its obligations regarding insurance under this Agreement.

  • When there is an Uninsurable Risk for which Project Co or the Authority, as applicable, is responsible to obtain insurance under Schedule 5 [Insurance Requirements] Project Co or the Authority, as applicable, will approach the insurance market on a regular basis and in any event at regular intervals of no longer than six months to establish whether the Uninsurable Risks remain Uninsurable.

  • Proceeds If No Termination 24 6.10 Application of Insurance Proceeds In Case of Termination 24 6.11 Standards of Replacement, Repair or Reconstruction 24 6.12 Mitigation 25 6.13 Risks Becoming Uninsurable 25 6.14 Consequences of Risks Becoming Uninsurable 25 6.15 Third Party Liability Insurance as an Uninsurable Risk 26 6.16 Subrogation 26 6.17 Continuing Attempts to Insure Uninsurable Risks 26 6.18 Uninsurable Risks Becoming Insurable 27 7.

  • Subject to Clause 4.1 (Conditions Precedent), this Agreement and the rights and obligations of the parties shall take effect on the Effective Date and (subject to the provisions for early termination set out in Clauses 4.2, 35 (Termination), 39 (Force Majeure), 63 (Uninsurable Risks), 79 (Corrupt Gifts and Payment of Commission) and 86 (Termination by the Authority for Breach of the Refinancing Provisions)) shall continue until the Expiry Date.


More Definitions of Uninsurable Risks

Uninsurable Risks means (1) wear and tear or depreciation; (2) rot, fungus, woodworm, beetle, moth, insects or vermin; (3) mechanical or electrical fault or breakdown; (4) any process of cleaning, dyeing, renovation, re-styling, repairing or restoring; (5) any other gradually operating cause.
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Uninsurable Risks means a risk usually covered by insurances in each case required under the Project Agreement becomes Uninsurable (as defined in the Project Agreement) leading to termination of the Project Agreement pursuant to clause 61 (Risks that become Uninsurable) of the Project Agreement. (v) If the Bonds are redeemed pursuant to Condition 6.3(ii)(II) or 6.3(iii) and the Issuer receives any further payment from Leeds City Council, then within ten Business Days of receipt, the Issuer shall apply the proceeds of such payment (less any amount required to pay or provide for any amount ranking in priority thereto (in accordance with the priorities of payment set out in Clause 22.7 (Proceeds of Enforcement) of the Security Trust and Intercreditor Deed)), in making a further payment to each Bondholder pro-rata to its holding of Bonds until the balance of the Default Amount has been paid in full. For the avoidance of doubt, the Bondholders shall not be entitled to receive any such further payment to the extent in that it would result in Bondholders receiving any amount in excess of the Default Amount. Default Amount 6.4 Notwithstanding any other Condition, upon any redemption of the Bonds following:
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Related to Uninsurable Risks

  • Insured Risks means fire lightning explosion earthquake storm tempest flood subsidence landslip heave impact terrorism bursting or overflowing of water tanks and pipes earthquake damage by aircraft and other aerial devices or articles dropped there from riot and civil commotion labour disturbance and malicious damage and such other risks as the Academy Trust insures against from time to time subject in all cases to any exclusions or limitations as may from time to time be imposed by the insurers or underwriters;

  • full insurable value means one hundred percent (100%) of the actual replacement cost of the Property (excluding foundation and excavation costs and costs of underground flues, pipes, drains and other uninsurable items).

  • Damage means actual and/or physical damage to tangible property;

  • Contamination means the presence of, or Release on, under, from or to the environment of any Hazardous Substance, except the routine storage and use of Hazardous Substances from time to time in the ordinary course of business, in compliance with Environmental Laws and with good commercial practice.

  • Insured as used in this Part means:

  • Severe property damage means substantial physical damage to property, damage to the treatment facilities which would cause them to become inoperable, or substantial and permanent loss of natural resources which can reasonably be expected to occur in the absence of a bypass. Severe property damage does not mean economic loss caused by delays in production.