The Assigned Risks Pool Sample Clauses

The Assigned Risks Pool is a mechanism used to ensure that individuals or entities who are unable to obtain insurance coverage through the standard market can still secure necessary insurance. Typically, this pool is funded and managed collectively by insurance providers, who are required to accept a share of high-risk applicants assigned to them by the pool. For example, drivers with poor records who are denied auto insurance by private companies may be placed in the assigned risk pool to guarantee they have the legally required coverage. The core function of this clause is to provide a safety net for high-risk parties, ensuring access to essential insurance and promoting fairness in the insurance market.
The Assigned Risks Pool. 8 Where a firm carrying on a practice has not obtained qualifying insurance outside the assigned risks pool in respect of any indemnity period or part thereof to which these rules apply it must, if an eligible firm apply in accordance with the procedure set out in rule 11 to enter the assigned risks pool, subject to rule 9, before the start of the relevant indemnity period. 9 A firm about to start carrying on a practice which has not already obtained qualifying insurance outside the assigned risks pool may, if an eligible firm, apply to enter the assigned risks pool after the start of any relevant indemnity period. A firm must not start carrying on a practice without either having obtained qualifying insurance outside the assigned risks pool or, alternatively, in the case of an eligible firm, without having applied in accordance with the procedure set out in rule 11 to enter the assigned risks pool.
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The Assigned Risks Pool. An Assigned Risks Pool (ARP) shall be established and operated and the ARP Manager shall carry out its functions in accordance with the following paragraphs of this Schedule 1 and the Rules.
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The Assigned Risks Pool. An Assigned Risks Pool (ARP) shall be established and operated and the ARP Manager shall carry out its functions in accordance with the following paragraphs of this Schedule 1 and the Rules. In this Schedule, the following terms shall have the meanings given below: Actual Premium Payable means the Premium Payable by a Firm provided that, where the Premium Payable in respect of a Firm exceeds the Premium Cap (as applicable), the Premium Payable in respect of that Firm for the purpose of the calculations in paragraph 3.7 of this Schedule, shall equal the amount of the applicable Premium Cap;
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Related to The Assigned Risks Pool

  • The Properties Attached hereto as Schedule I is the description of certain Land (the "Subject Property"). Effective upon the execution and delivery of this Lease Supplement by Lessor and Lessee, such Land, together with any Building and other improvements thereon or which thereafter may be constructed thereon shall be subject to the terms and provisions of the Lease and Lessor hereby grants, conveys, transfers and assigns to the Related Lessee those interests, rights, titles, estates, powers and privileges provided for in the Lease with respect to the Subject Property.

  • RISK OF THE PROPERTY As from the time of the sale, the Property shall be at the sole risk of the Purchaser as regards to loss or damage of whatsoever nature or howsoever occurring including by fire or other accidents, state of cultivation, non-occupation or otherwise.

  • Environmental Attributes Seller acknowledges and agrees that any Environmental Attribute associated with or related to the Product will not be sold or otherwise made available to a third party but will be sold to Buyer pursuant to this Agreement. For the avoidance of doubt, the Product sold hereunder must meet the definition of “renewable energy credit” under the IPA Act.

  • Delivery Points ‌ Project water made available to the Agency pursuant to Article 6 shall be delivered to the Agency by the State at the delivery structures established in accordance with Article 10.

  • Assigned Contracts Each Credit Party will secure all consents and approvals necessary or appropriate for the assignment to or for the benefit of Agent of any Assigned Contract and to enforce the security interests granted hereunder. Each Credit Party shall fully perform all of its obligations under each of its Assigned Contracts, and shall enforce all of its rights and remedies thereunder, in each case, as it deems appropriate in its business judgment. Such Credit Party shall notify Agent in writing, promptly after such Credit Party becomes aware thereof, of any event or fact which could give rise to a material claim by it for indemnification under any of its Assigned Contracts. If an Event of Default then exists, Agent may, and at the direction of Required Lenders shall, directly enforce such right in its own or such Credit Party’s name and may enter into such settlements or other agreements with respect thereto as Agent shall determine. In any suit, proceeding or action brought by Agent under any Assigned Contract for any sum owing thereunder or to enforce any provision thereof, the Credit Parities shall indemnify and hold Agent and Lenders harmless from and against all expense, loss or damage suffered by reason of any defense, setoff, counterclaims, recoupment, or reduction of liability whatsoever of the obligor thereunder arising out of a breach by such Credit Party of any obligation thereunder or arising out of any other agreement, indebtedness or liability at any time owing from the Credit Parties to or in favor of such obligor or its successors, except for such expenses, damages or losses resulting from Agent’s or any Lender’s gross negligence or willful misconduct. All such obligations of the Credit Parties shall be and remain enforceable only against the Credit Parties and shall not be enforceable against Agent or Lender. Notwithstanding any provision hereof to the contrary, the Credit Parties shall at all times remain liable to observe and perform all of its duties and obligations under its Assigned Contracts, and Agent’s exercise of any of its rights with respect to the Collateral shall not release the Credit Parties from any of such duties and obligations. Neither Agent nor any Lender shall be obligated to perform or fulfill any of any Credit Party’s duties or obligations under its Assigned Contracts or to make any payment thereunder, or to make any inquiry as to the nature or sufficiency of any payment or property received by it thereunder or the sufficiency of performance by any party thereunder, or to present or file any claim, or to take any action to collect or enforce any performance, any payment of any amounts, or any delivery of any property.