Memoranda. 1. In the event of the discovery of any loss resulting from a defined event, the participant may, notwithstanding anything to the contrary contained in paragraph (ii) of General condition 6, refrain from reporting the matter to the police but shall do so immediately should the company require such action to be taken.
Memoranda. A. The Board has heard the concerns raised by the Association concerning funding of student rewards. The Director shall issue a directive to building administrators to discuss with their respective staff the allocation of discretionary funds which may be used for student rewards.
Memoranda. 1. First loss average If, at the time of any loss or damage arising, the total value of the property described by each item does not exceed the sums stated in the statement of cover then this cover shall be declared free of average, but if the total value of such property shall be greater than the aforementioned sums, the participant shall be considered as being their own company for the difference and the Company shall be liable only for such proportion of the first loss sum covered as the aforementioned sums shall bear to the total value not exceeding in all the total sum covered by each item.