Hazard Event definition
Examples of Hazard Event in a sentence
However, if a Hazard Event exists as at the date of termination that requires the Services of the Bureau, the parties agree that this Agreement will survive during the period of the Hazard Event.
This Agreement may be terminated by KMGT upon the occurrence of a Moral Hazard Event in relation to the Primary Mortgage Lender and KMGT gives notice to the Primary Mortgage Lender of its intention to terminate this Agreement.
An individual Mortgage Loan may be terminated by KMGT if a Moral Hazard Event occurs in relation to that Mortgage Loan, and KMGT gives notice to the Primary Mortgage Lender of its intention to terminate the guarantee in respect of that Mortgage Loan.
An individual Guarantee Cover may be terminated by KMGT if a Moral Hazard Event occurs in relation to the Mortgage Loans covered under that Guarantee Cover, and KMGT gives notice to the Primary Mortgage Lender of its intention to terminate the Guarantee Cover.