Pool Re Clause Samples

Pool Re. 4.9.1 shall not be concerned as to how the MGA accounts to that Member in respect of the rights and obligations of membership; and 4.9.2 shall be under no duty to enquire as to the due authority and appointment of the MGA which is asserted both by the Member and the MGA.
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Pool Re. In the event that Her Majesty’s Government or Her Majesty’s Treasury or any other authorised authority issues a Certificate certifying an event or occurrence to have been an Act of Terrorism (defined for the purposes of this Section below) or in the event that Her Majesty’s Government or Her Majesty’s Treasury or any other authorised authority refuses to issue a Certificate certifying an event or occurrence to have been an Act of Terrorism, and that refusal is reversed by the decision of a validly constituted Tribunal, the Company agrees to indemnify the Insured up to the limits of liability stated in the schedule against damage and/or business interruption proximately caused by such Act of Terrorism provided that: 1. Such damage and/or business interruption occurs in the specified territory;
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Pool Re. In the event that Her Majesty’s Government or Her Majesty’s Treasury or any other authorised authority issues a Certificate certifying an event or occurrence to have been an act of terrorism (defined for the purposes of this Section below) or in the event that Her Majesty’s Government or Her Majesty’s Treasury or any other authorised authority refuses to issue a Certificate certifying an event or occurrence to have been an act of terrorism, and that refusal is reversed by the decision of a validly constituted Tribunal, the Company agrees to indemnify the Insured up to the Limits of Liability stated in the Schedule against damage and/or business interruption proximately caused by such act of terrorism provided that: 1. such damage and/or business interruption occurs in the specified territory. 2. in any action, suit or other proceedings where the Company alleges that any damage and/or business interruption is not covered by this Section the burden of proving that such damage and/or business interruption is covered shall fall upon the Insured. 3. the insurance effected by this Section excludes any losses whatsoever: a) occasioned by riot, civil commotion, war, invasion, act of foreign enemy, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection or military or usurped power; b) directly or indirectly caused by or contributed to by or arising from or occasioned by or resulting from: i. the alteration, modification, distortion, corruption of or damage to any computer or other equipment or component or system or item which processes, stores, transmits, retrieves or receives data or any part thereof whether tangible or intangible (including but without limitation any information or programs or software); or ii. any alteration, modification, distortion, erasure, corruption of data processed by any such computer or other equipment or component or system or item; c) whether the property of the Insured or not, where such damage is caused by virus or similar mechanism or hacking or phishing or denial of service attack; including consequential loss directly or indirectly caused by or arising from virus or similar mechanism or hacking or phishing or denial of service attack. 4. the insurance effected by this Section excludes: a) any type of property which has been specifically excluded in Part 1 of this Policy; b) any nuclear installation or nuclear reactor and all fixtures and fittings situated thereon and attached thereto and all...
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Related to Pool Re

  • Extension or Amendment of Pool Receivables Except as otherwise permitted in Section 9.02, the Servicer will not alter the delinquency status or adjust the Outstanding Balance or otherwise modify the terms of any Pool Receivable in any material respect, or amend, modify or waive, in any material respect, any term or condition of any related Contract. The Servicer shall at its expense, timely and fully perform and comply in all material respects with all provisions, covenants and other promises required to be observed by it under the Contracts related to the Pool Receivables, and timely and fully comply with the Credit and Collection Policy with regard to each Pool Receivable and the related Contract.

  • Subservicing Accounts In those cases where a Subservicer is servicing a Mortgage Loan pursuant to a Subservicing Agreement, the Subservicer will be required to establish and maintain one or more accounts (collectively, the "Subservicing Account"). The Subservicing Account shall be an Eligible Account and shall otherwise be acceptable to the Servicer. The Subservicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Subservicer's receipt thereof, all proceeds of Mortgage Loans received by the Subservicer less its servicing compensation to the extent permitted by the Subservicing Agreement, and shall thereafter deposit such amounts in the Subservicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. The Subservicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the Subservicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the Mortgage Loans when the Subservicer receives such payments.

  • Notice to Account Debtors Lender may, at any time after an Event of Default, notify the account debtors and obligors of any accounts, chattel paper, negotiable instruments or other evidences of indebtedness to Borrower included in the Property to pay Lender directly. Borrower shall at any time or from time to time upon the request of Lender provide to Lender a current list of all such account debtors and obligors and their addresses.

  • Lockbox Borrower must immediately notify all persons who are obligated on accounts generated by the Borrower with customers domiciled in the United States and Canada that are not considered foreign account debtors by Crestmark for purposes of determining whether an account is an Eligible Account under this Agreement (such accounts, "Debtor Accounts" and such persons, collectively, a "Debtor") to remit all payments due Borrower to the lock box address or pursuant to the wire transfer or ACH instructions set forth in the Schedule (the "Lockbox Account"). The remit to address on all documents related to the Debtor Accounts, including invoices, purchase orders, or contracts ("Documents") must be the Lockbox Account. At Crestmark's request, all Documents must be marked by Borrower to show assignment to Crestmark, and Borrower must notify each Debtor by mail that the Debtor Account has been assigned to Crestmark and that all payments on the Debtor Account, whether made by mail or electronically or otherwise must be made payable to Borrower or Crestmark, at Crestmark's sole discretion, to the Lockbox Account or other address provided by Crestmark in writing. The language used in such notices shall be approved by Crestmark in writing. Crestmark may at any time and from time to time, and at its sole discretion, notify any Debtor or third party payee with respect to a Debtor Account to make payments payable directly to Crestmark or to notify Debtor of the assignment to Crestmark. All expenses for notification of each Debtor will be paid by Borrower. Borrower shall not be required to deposit payments received with respect to COD sales or accounts that are not Debtor Accounts into the Lockbox Account. If notwithstanding the notice to Debtors, Borrower receives any funds from a Debtor, including any cash, checks, drafts or wire transfers from the collection, enforcement, sale or other disposition of a Debtor Account, whether derived in the ordinary course of business or not, Borrower shall hold such funds in trust for Crestmark, shall not mix such funds received with any other funds, and shall within two business days deposit such funds in the Lockbox Account. Crestmark will have sole possession and control over the Lockbox Account. The Lockbox Bank will process all deposits and Borrower has no right to the Lockbox Account, it belongs to Crestmark. Crestmark is the owner of all deposits in the Lockbox Account, and has no duty as to collection or protection of funds as long as it is not grossly negligent or commits actual fraud. All expenses plus any applicable administration and servicing fees of the Lockbox Account will be paid by Borrower.

  • The Accounts The Borrower has neither pledged nor assigned, nor entered into a control agreement with respect to either Account, other than in accordance with the terms of this Agreement and the Account Control Agreement. Each Account is a “deposit account” or “securities account”, in each case under and as defined in the relevant UCC.