Insurable Condition Clause Samples

The Insurable Condition clause defines the requirement that a property, asset, or subject matter must meet certain standards to be eligible for insurance coverage. In practice, this means the insured must maintain the property in a state that is acceptable to the insurer, such as ensuring a building has proper fire safety measures or that a vehicle is roadworthy. This clause serves to minimize the insurer's risk by ensuring that only well-maintained and properly safeguarded items are covered, thereby reducing the likelihood of preventable losses and disputes over coverage eligibility.
Insurable Condition. You shall notify the Company promptly should you become aware of any inaccuracies in an applicant’s responses to any question or request for information contained on an application or elsewhere, including any changes to the applicant’s responses on an application before an insurance product is delivered. For any insurance product delivered to you by the Company, you shall arrange for it to be delivered to the policy owner(s), and the premium paid in accordance with any delivery instructions issued by the Company at that time. You shall not permit the delivery of any insurance product unless, to the best of your knowledge, the owner and insured are in insurable condition, and the first premium has been fully paid. You shall return to the Company, upon request or on the day following the expiration of 60 days after issue, any contract which was not so delivered.
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Insurable Condition. You shall notify the Company promptly should you become aware of the death of an applicant, or if you become aware of any inaccuracies in an applicant’s responses to any question(s) or request(s) for information contained on an application or elsewhere, including any changes to the applicant’s responses on an application before an insurance product is delivered. For any insurance product(s) delivered to you by the Company, you shall arrange for such insurance product(s) to be delivered to the owner(s) and the first premium paid in accordance with the delivery instructions issued by the Company. You shall not permit the delivery of any insurance product(s) unless, to the best of your knowledge, the insured is alive, in good health, in the same or better condition than at the time of application, in insurable condition, and the first premium has been fully paid. You shall return to the Company upon request or on the day following the expiration of 60 days any contract which was not so delivered.
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Insurable Condition. You shall notify the Company promptly should you become aware of any inaccuracies in an applicant’s responses to any question or request for information contained on an application or elsewhere, including any
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Insurable Condition. Tenant shall use reasonable efforts so as not to violate any of the conditions or provisions of any such policy provided for in this Article or void or make voidable any such policies.
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Insurable Condition. You shall notify the Company promptly should you become aware of the death of an applicant, or if you become aware of any inaccuracies in an applicant’s responses to any question(s) or request(s) for information contained on an application or elsewhere, including any changes to the applicant’s responses on an application before an insurance product is delivered. For any insurance product(s) delivered to you by the Company, you shall arrange for such insurance product(s) to be delivered to the owner(s) and the first premium paid in accordance with the delivery instructions issued by the Company. You shall not permit the delivery of any insurance product(s) unless, to the best of your knowledge, the insured is alive. In addition, with respect to life insurance policies you shall not permit the delivery of any insurance product(s) unless, to the best of your knowledge, the insured is: in good health, in the same or better condition than at the time of application, in insurable condition, and the first premium has been fully paid. You shall return to the Company upon request or on the day following the expiration of 60 days any contract which was not so delivered. The Company has the right to reject any application, cancel or rescind the sale of any insurance product or authorize the surrender of any insurance product, and in each such case, return any money submitted to the applicant or purchaser, at the Company’s sole discretion. You may be obligated to return to the Company any payment made to you in connection with any such application or insurance product, as set forth in Section 11, below.
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Related to Insurable Condition

  • Unsafe Conditions In accordance with 29 CFR § 1977, occasions might arise when an employee is confronted with a choice between not performing assigned tasks or subjecting himself/herself to serious injury or death arising from a hazardous condition at the workplace. If the employee, with no reasonable alternative, refuses in good faith to expose himself/herself to the dangerous condition, he/she would be protected against subsequent discrimination. The condition causing the employee's apprehension of death or injury must be of such a nature that a reasonable person, under the circumstances then confronting the employee, would conclude that there is a real danger of death or serious injury and that there is insufficient time, due to the urgency of the situation, to eliminate the danger by resorting to regular statutory enforcement channels. In addition, in such circumstances, the employee, where possible, must also have sought from his Employer, and been unable to obtain, a correction of the dangerous condition.

  • SUSPENSIVE CONDITION i) The contract only becomes binding and enforceable once: a. the Parties have signed this contract and the PRODUCER has received a MEATCO confirmation letter stipulating the applicable ▇▇▇▇▇▇▇▇▇ period and cattle quantity to be delivered to MEATCO; b. MEATCO agrees to provide a ▇▇▇▇▇▇▇▇▇ allocation to the PRODUCER on a first come first served basis principle, and at the sole discretion of MEATCO; and c. the PRODUCER has provided, within 10 business days of MEATCO’s request, a guarantee or security for the payment of the maximum penalty capable of being imposed in terms of clause A. vi) above to the satisfaction of MEATCO.

  • Safe Conditions Whenever an employee reports a condition which the employee feels represents a violation of safety or health rules and regulations or which is an unreasonable hazard to persons or property, such conditions shall be promptly investigated. The appropriate administrator shall reply to the concern, in writing, if the employee's concern is communicated in writing.

  • SUSPENSIVE CONDITIONS 2.1 This entire AGREEMENT is subject to the registration of transfer of ownership of the PROPERTY to the EMPLOYER. In the event that the PROPERTY is not transferred within 6 (six) months from date of signing of this Agreement by the CONTRACTOR, the CONTRACTOR reserves the right to: 2.1.1 increase the CONTRACT SUM, based on the current prices for the building materials, and the CONTRACTOR shall notify the EMPLOYER in writing of such increased cost and the EMPLOYER may then, at his/her option, cancel this agreement by providing written notice of cancellation to the CONTRACTOR within 5 (five) DAYS of receiving written notice from the CONTRACTOR in respect of the increased cost. Should written notice of cancellation not be forthcoming within the aforesaid period, the CONTRACTOR and the EMPLOYER shall proceed with the AGREEMENT at the increased CONTRACT SUM and the EMPLOYER shall be obliged to pay the increase in the CONTRACT SUM to the CONTRACTOR within 21 (twenty one) DAYS of receiving written notice from the CONTRACTOR in respect of the increased cost; or 2.1.2 cancel this AGREEMENT and the parties shall have no claim of whatsoever nature against each other. 2.2 This AGREEMENT is subject further to the EMPLOYER being offered a loan to be secured by a mortgage bond over the PROPERTY and improvements in the amount reflected in Schedule B or such lesser amount as the EMPLOYER may accept, within 30 (thirty) DAYS of the date of the CONTRACTOR’s signature of this AGREEMENT, which period may be extended in the CONTRACTOR’s sole discretion. Should no amount be inserted in the relevant field in the Schedule B, then the suspensive condition contained in this clause will not apply. In the event that the suspensive condition contained in this clause is not fulfilled, this AGREEMENT will lapse and the parties shall have no claim of whatsoever nature against each other.

  • Termination Conditions This Agreement terminates upon the earlier of any of the following events: a.