Authorization £or Payment Sample Clauses

Authorization £or Payment. OPTIMUM RE will accept THE COMPANY's decision on claim payment of amounts up to THE COMPANY'S automatic reinsurance limit as specified in SCHEDULE A. However, on claims which occur in the contestable period which were either ceded Facultatively or when the amount ceded to all reinsurers exceeds or is equal to the amount retained by THE COMPANY, THE COMPANY must obtain OPT I MUM RE’s non – binding opinion regarding the reinsurance liability prior to acknowledgment of its liability to the claimant. Upon notice and receipt of claims information, OPTIMUM RE will provide its non-binding opinion within ten (10) business days, or shorter if required by statute. If OPTIMUM RE fails to provide its non-binding opinion within five (5) business days, THE COMPANY shall follow-up with a written reminder to secure such opinion from OPTIMUM RE. If OPTIMUM RE further failsto provide its non-binding opinion within five (S) business days, or shorter if required by statute, of the follow-up written reminder, OPTIMUM RE will have been deemed to have agreed with the decision of THE COMPANY. For all other claims within the contestable period, OPTIMUM RE will accept THE COMPANY's decision on claim payment of amounts up to THE COMPANY'S automatic reinsurance limit as specified in SCHEDULE A. In addition, OPTIMUM RE will pay its share of third party expenses incurred by THE COMPANY in conjunction with the investigation of claims which occur in the contestable period.
Sample 1
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Related to Authorization £or Payment

  • Authorization of Overtime (a) Overtime work shall be assigned and authorized only by appointing authorities or their designated representatives either verbally or in writing.

  • Authorization Warranty Contractor represents and warrants that the person executing this Contract on behalf of and for Contractor is an authorized agent who has actual authority to bind Contractor to each and every term, condition, and obligation of this Contract and that all requirements of Contractor have been fulfilled to provide such actual authority.

  • Authorization of Agreement, Etc The Borrower has the right and power, and has taken all necessary action to authorize it, to borrow and obtain other extensions of credit hereunder. The Borrower and each other Loan Party has the right and power, and has taken all necessary action to authorize it, to execute, deliver and perform each of the Loan Documents to which it is a party in accordance with their respective terms and to consummate the transactions contemplated hereby and thereby. The Loan Documents to which the Borrower or any other Loan Party is a party have been duly executed and delivered by the duly authorized officers of such Person and each is a legal, valid and binding obligation of such Person enforceable against such Person in accordance with its respective terms except as the same may be limited by bankruptcy, insolvency, and other similar laws affecting the rights of creditors generally and the availability of equitable remedies for the enforcement of certain obligations (other than the payment of principal) contained herein or therein may be limited by equitable principles generally.

  • Authorization of the Notes The Notes to be purchased by the Underwriters from the Company are in the form contemplated by the Indenture, have been duly authorized for issuance and sale pursuant to this Agreement and the Indenture and, at the Closing Date, will have been duly executed by the Company and, when authenticated in the manner provided for in the Indenture and delivered against payment of the purchase price therefor, will constitute valid and binding obligations of the Company, enforceable in accordance with their terms, except as the enforcement thereof may be limited by bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws relating to or affecting the rights and remedies of creditors or by general equitable principles, and will be entitled to the benefits of the Indenture.

  • Payment Authorization I authorize Xxxxx Management to collect payment of the application fee and application deposit in the amounts specified under paragraph 3 of the Disclosures.

  • Authorization of Agreement This Agreement has been duly authorized, executed and delivered by the Company.

  • Overtime Authorization All overtime must be authorized by the City Manager or his or her designated representative in advance of being worked.

  • Authorization to Proceed A fully executed and approved authorization in the form of Attachment 6 to this Agreement, Authorization to Proceed (“ATP”) accompanied by an executed purchase order document issued by the Owner to the Project Consultant, authorizing the performance of specific professional services, authorizing commencement of a Phase as defined in Article 2.1 through Article 2.8, and stating the time for completion and the amount of fee authorized for such services.

  • Authorization, Etc This Agreement and the Notes have been duly authorized by all necessary corporate action on the part of the Company, and this Agreement constitutes, and upon execution and delivery thereof each Note will constitute, a legal, valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except as such enforceability may be limited by (i) applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law).

  • Authorization of Borrowing Etc The execution, delivery and performance of each Loan Document to which it is a party have been duly authorized by all necessary action on the part of each Credit Party.

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