General limit of protection Sample Clauses

General limit of protection. If a covered deposit is unavailable because a bank, building society or credit union is unable to meet its financial obligations, depositors are repaid by a Deposit Guarantee Scheme. This repayment covers a maximum of £85,000 per bank, building society or credit union. This means that all eligible deposits at the same bank, building society or credit union are added up in order to determine the coverage level. If, for instance, a depositor holds a savings account with £80,000 and a current account with £20,000, he or she will only be repaid £85,000. This method will also be applied if a bank, building society or credit union operates under different trading names. Xxxxxxxx Bank Limited also trades under the name “Xxxxxxxx” and “Xxxxxxxx Bank”. This means that all eligible deposits with one or more of these trading names are in total covered up to £85,000. In some cases, eligible deposits which are categorised as “temporary high balances” are protected above £85,000 for six months after the amount has been credited or from the moment when such eligible deposits become legally transferable. These are eligible deposits connected with certain events including:
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General limit of protection. If a deposit is unavailable because a credit institution is unable to meet its financial obligations, depositors are compensated by a deposit guarantee scheme. The allowance is capped at €100,000 per person and per credit institution. This means that all accounts payable with the same credit institution are added up to determine the amount eligible for the guarantee (subject to the application of the legal or contractual provisions relating to compensation with its accounts receivable). The compensation ceiling is applied to this total. Deposits and persons eligible for this guarantee are mentioned in Article L. 312-4-1 of the French Monetary and Financial Code (for more details on this point, see the FGDR website). For example, if a Client has an eligible savings account (excluding Livret A, Livret de Développement Durable and Livret d’Epargne) with a balance of €90,000 and a current account with a balance of €20,000, compensation will be capped at €100,000. This method also applies when a credit institution operates under several commercial brands. This means that all the deposits of the same person accepted under these commercial brands receives a maximum compensation of €100,000.
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General limit of protection. If a deposit is unavailable because a credit institution is unable to meet its financial obligations, depositors are repaid by the Depositor Compensation Scheme,in accordance with the Regulations. This repayment covers a maximum of EUR 100,000 per credit institution. This means that all deposits at the same credit institution are added up in order to determine the coverage level. If,for instance,a depositor holds a savings account with EUR 90,000 and a current account with EUR 20,000, he or she will only be repaid EUR 100,000. In addition to the protection described above,deposits may be protected in some cases up to a maximum of EUR 500,000 for six months after the amount has been credited or from the moment when such deposits become legally transferrable. In order to qualify for such higher protection,a deposit in excess of EUR100,000 must meet any one of the following additional criteria:
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General limit of protection. If a covered deposit is unavailable because a credit institution is unable to meet its financial obligations, depositors are repaid by the DGS. This repayment covers at maximum €100,000 per person per credit institution. This means that all eligible deposits at the same credit institution are added up in order to determine the coverage level. If, for instance, a depositor holds a savings account with €90,000 and a current account with €20,000, he or she will only be repaid €100,000.
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General limit of protection. If a deposit is unavailable because a credit institution is unable to meet its financial obligations, depositors are compensated by a deposit guarantee scheme. The indemnity is capped at € 100,000 per person and per credit institution. This means that all accounts with a positive balances with the same credit institution are added up to determine the amount eligible for the guarantee (subject to the application of legal or contractual provisions relating to compensation with its accounts with negative balances). The compensation cap is applied to this total. Deposits and individuals eligible for this guarantee are mentioned in Article L. 312-4-1 of the Monetary and Financial Code (for further details on this point, please refer to the website of the Deposit Guarantee and Resolution Fund). For example, if a customer has an eligible savings account (excluding Saving Schemes Livret A, Livret de Développement Durable and Livret d’Epargne Populaire) with a balance of € 90,000 and a current account with a balance of € 20,000, compensation will be capped at € 100,000. This method also applies when a credit institution operates under several trademarks. This means that all deposits of the same individual accepted under these trademarks benefit from a maximum compensation of € 100,000.
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Related to General limit of protection

  • General Limitations Notwithstanding any provision of this Agreement to the contrary, the Company shall not pay any benefit under this Agreement:

  • Term of Protection Initial registration, and each renewal of registration, of a trademark shall be for a term of no less than seven years. The registration of a trademark shall be renewable indefinitely.

  • General Limitation Xxxxxx Mae shall be liable under the terms of the Lower Tier Classes, the Certificates and this Trust Agreement only to the extent of faithful performance of the duties and responsibilities imposed by the terms of the Lower Tier Classes, the Certificates and this Trust Agreement.

  • General Limitation of Liability 7.1. Where we and another person (such as a payment services provider) are liable to you in respect of the same matter or item, you agree that our liability to you will not be increased by any limitation of liability you have agreed with that other person or because of your inability to recover from that other person beyond what our liability would have been had no such limitation been agreed and/or if that other person had paid his or its share.

  • INDEMNIFICATION, INSURANCE AND PROTECTION OF PROPERTY The following provisions shall only apply if and to the extent Seller’s personnel enter or perform work at premises owned or controlled by Buyer or Buyer’s customer:

  • Insurer Qualifications, Insurance Requirements Each of the insurance coverages required below (i) shall be issued by a company licensed by the Insurance Commissioner to transact the business of insurance in the State of Georgia for the applicable line of insurance, and (ii) shall be an insurer (or, for qualified self-insureds or group self insureds, a specific excess insurer providing statutory limits) with a Best Policyholders Rating of "A-" or better and with a financial size rating of Class V or larger. Each such policy shall contain the following provisions:

  • INSURANCE PROTECTION Insurance protection for employees travelling on work related business is provided in accordance with the DHB’s insurance policy. The provisions of the insurance policy are available through the Human Resources department.

  • No Limitation by Insurance The obligations under this Article 26 will not be limited in any way by any limitation of subcontractor’s insurance.

  • Staff Protection A. The District shall protect certificated employees acting within the scope of their employment by purchasing liability insurance in the amount of at least five million dollars ($5,000,000) per occurrence, and the District shall include the certificated employees as named insured under the liability insurance and errors and omissions policy of the school district.

  • Payment of Premiums; Substitution of Policy; Loss Reserve; Protection of Lender If Lender required Mortgage Insurance as a condition of making the Loan, Borrower will pay the premiums required to maintain the Mortgage Insurance in effect. If Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, and (i) the Mortgage Insurance coverage required by Lender ceases for any reason to be available from the mortgage insurer that previously provided such insurance, or (ii) Lender determines in its sole discretion that such mortgage insurer is no longer eligible to provide the Mortgage Insurance coverage required by Lender, Borrower will pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Xxxxxx. If substantially equivalent Mortgage Insurance coverage is not available, Borrower will continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use, and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve will be non-refundable, even when the Loan is paid in full, and Lender will not be required to pay Borrower any interest or earnings on such loss reserve. Lender will no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower will pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender’s requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 11 affects Borrower’s obligation to pay interest at the Note rate.

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