BI/PD Fund definition
BI/PD Fund means the risk pooling and financing facility that is available to Seller’s agents, as well as those of Seller’s Affiliates Allied Van Lines, Inc. and Global Van Lines, Inc., and that provides funding and insurance for third party auto liability, property damage, general liability, excess cargo and monopolistic workers compensation risks for work performed under van line/corporate authority as well as certain other administrative costs.
Examples of BI/PD Fund in a sentence
Buyer will participate in the BI/PD Fund through December 31, 2004.
Buyer will pay the same rate as Seller currently pays for the Business’ participation in the BI/PD Fund and receive the same benefits as Seller currently receives for the Business’ participation in the BI/PD Fund, as listed on Schedule 4.9. While it participates in the BI/PD Fund, Buyer agrees not to expand its business through merger or acquisition or through the addition of different lines of business and further agrees that all of the BI/PD Fund’s rules and regulations will apply.