Breach by non Clause Samples
The 'Breach by non' clause defines the consequences and procedures that apply when a party fails to fulfill its obligations under the agreement. Typically, this clause outlines what constitutes a breach, the steps the non-breaching party must take to notify the breaching party, and any remedies or corrective actions available, such as the right to terminate the contract or seek damages. Its core function is to provide a clear framework for addressing non-performance, thereby protecting the interests of both parties and ensuring accountability within the contractual relationship.
Breach by non disclosure, misrepresentation (other than fraudulent or dishonest) If the insured or anyone acting on its behalf breaches this condition (other than by fraudulent or dishonest means), the insurer may:
a) impose such terms and conditions (effective at inception or otherwise) as the insurer would have imposed in the absence of such breach; and/or
b) charge such additional premium (effective at inception or otherwise) as the insurer would have required in the absence of the breach; and
c) apply such applicable additional premium, amended terms and conditions or both to any notified claim or potential claim; and the insurer will promptly give the insured written notice of any applicable additional premium, amended terms and conditions or both.