Insurance obligation definition

Insurance obligation. (for life assurances) shall mean the obligation represented in one of the forms of insurance or one of the kinds of businesses referred to in article 13 (para.2).
Sample 1Sample 2
Insurance obligation. The facility where the Equipment is installed must have insurance on terms established by and acceptable to the Company. These Terms and Conditions identify the equipment and accessories provided and checked by the Company. One copy is given to the Customer and one is retained by the Company for its records. SPECIFIC CONDITIONS FOR "PREVENTIVE MAINTENANCE" CONTRACT The number of annual service visits are stated in the Service Contract. The equipment covered by the Service Contract (the “Equipment”) is listed on Schedule A to the Service Contract. The Company, at Customer’s request, will provide technical service to maintain the Equipment under manufacturer’ specifications. These visits will be invoiced to the Customer in accordance with the Service Price List. A quotation must be signed by the Customer before any service visit. The Company will schedule a service visit within 72 hours after receiving the signed quote from the Customer, subject to weather conditions, transport and availability of Company employees, on a date approved by the Customer and the Company representative. During the service visit, if the Company’s service engineer finds a defective part and it cannot be repaired on the site, a new part will be replaced within a reasonable time. If a service visit cannot be scheduled on site, maintenance shall be done at the Company’s warehouse. The decision to provide loaner Equipment during any downtime will be at the discretion of the Company. The Company shall determine whether to repair or replace parts of the Equipment. A quotation will be sent to the Customer for approval. The Company may use “refurbished” spare parts that meet the applicable manufacturer standards. Parts exchanged become the property of the Company. The Company’s engineer must have continuous access to the Equipment while on-site, and adequate space for repair. Any additional time needed to have proper access to the Equipment will be invoiced to the Customer. Before any service visit, the Customer has to save, protect, and copy all programs and databases installed in the Equipment. The Company shall have no responsibility regarding these contents in case of loss or damage resulting from service of the Equipment.
Sample 1
Insurance obligation means, on any date, the sum of (a) all Reimbursement Amounts, (b) all accrued and unpaid premium and charges for "Unutilized Credit Limit Capacity" under the Insurance Policy and (c) all other accrued and unpaid amounts then due and payable to the Insurer under the Insurance Policy and any other Transaction Document.
Sample 1

Examples of Insurance obligation in a sentence

  • Insurance obligation will transfer from consignor to Collectable, once the Consignment Agreement is completed.

  • Adjustments to the National Insurance obligation will be recog- nized as a cost or as a reduced cost in subsequent periods, based on changes in the intrinsic value over the vesting period.

  • The Insurance obligation for that portion of the building occupied by the Lessee shall also be billed at the same time as the real estate taxes or in other words, two billxxxx xxxing the lease period.

  • SCOTUS, 1980): Insurance obligation can’t be attached for quasi-in- rem jurisdiction.

  • Article 157 - Insurance obligation Motor vehicles and their trailers, on terms to be set out in regulations, may only travel on a public roadway if they have obtained, in terms of special legislation, third party liability insurance.

  • Insurance obligation reduces product’s adaptability, its susceptibility to innovation or the capacity to absorb effective insurance technical tools as well as technological solutions.macroeconomic goals depends on the degree of fulfilment of the principle relating to universality and completeness of insurance protection7.

  • Approve Resolution #14-05-10, MERS resolution to open an OPEB trust account in order to prefund the Shiawassee County Retiree Health Insurance obligation.

  • Adjustments to the National Insurance obligation will be recognized as a cost or as a reduced cost in subsequent periods, based on changes in the fair value or intrinsic value.

  • Such schools should be encouraged to explore the sustainable means on using their available resources to funds for academic purposes.Financial Support Most of the schools visited during the study have shown dissatisfaction over the amount of financial support being allocated through GON for the construction of classrooms.

  • Commissioning, decommissioning; 11.3 Fuel, oil, lubricants and coolants; 11.4 Daily check by Client; 11.5 Connections to mains; 11.6 Work at height; 12.1 Restitution at the end of the Service Period; 12.2 Return note; 12.3 State of Plant; 12.4 Delay of return; 13.1 Client responsible for insurance; 13.2 Insurance certificate; 13.3 Insurance obligation waiver; 13.4 Client's obligations; 13.5 Information on loss or damage; 13.6 Information on accident; 14.


More Definitions of Insurance obligation

Insurance obligation. The Buyer, as sponsor of the Clinical Trials, shall maintain in effect a policy or policies of insurance providing protection against the risk of liability associated with any loss, injury or damage arising from the performance of Clinical Trials, including contractual liability, in amounts and coverage decided upon in its sole discretion, and it shall provide the Seller with the relevant insurance policy upon Seller’s request. IN NO EVENT SHALL EITHER PARTY BE LIABLE TO THE OTHER PARTY OR ANY THIRD PARTY FOR INDIRECT, INCIDENTAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES ARISING FROM ANY CLAIM RELATING TO THIS AGREEMENT, EVEN IF SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. MOREOVER, SELLER’S LIABILITY AND INDEMNIFICATION UNDERTAKINGS UNDER THIS SUPPLY AGREEMENT AND/OR THE QUALITY AGREEMENT SHALL IN NO EVENT EXCEED THE TOTAL VALUE OF <Omitted> IN THE AGGREGATE, IT BEING SPECIFIED FOR THE AVOIDANCE OF DOUBT THAT SAID LIMITATION SHALL NOT APPLY IN CASE OF LIABILITY RESULTING FROM DEATH AND/OR BODY INJURY, IF AND WHEN SUCH LIABILITY MAY NOT BE RESTICTED UNDER THE APPLICABLE LAW. NOTWITHSTANDING THE FOREGOING, SELLER’S LIABILITY AND INDEMNIFICATION UNDERTAKINGS UNDER THE PROVISIONS OF SECTION 7.2(b) ABOVE SHALL IN NO EVENT EXCEED THE TOTAL VALUE OF <Omitted> IN THE AGGREGATE. FOR THE AVOIDANCE OF DOUBT, IT IS SPECI FIED THAT PROVISIONS OF THIS ARTICLE 7 SHALL NOT AFFECT THE APPLICATION OF SECTION 5.7 IN CASE OF DELAYED ORDERS.
Sample 1
Insurance obligation. THE OWNER (GRAND STORAGE LLC) DOES NOT PROVIDE ANY TYPE OF INSURANCE WHICH WOULD PROTECT THE OCCUPANT’S PERSONAL PROPERTY FROM LOSS BY FIRE, THEFT, OR ANY OTHER TYPE OF CASUALTY LOSS. IT IS THE OCCUPANT’S RESPONSIBILITY TO OBTAIN SUCH INSURANCE. Occupant, at Occupant’s sole expense, shall maintain an insurance policy of fire, extended coverage endorsement, burglary, vandalism, and malicious mischief insurance for the actual cash value of the stored property. Insurance on Occupant’s stored property is a material condition of this agreement and is for the benefit of both the Occupant and the owner. Occupant’s failure to carry the required insurance is a breach of this agreement, and Occupant assumes all risk of loss to stored property that would be covered by such insurance, including any loss due to any acts whatsoever of Owner, or Owner’s agents or employees, including negligent or intentional disposal of Occupant’s stored property. Occupant expressly agrees that the carrier of such insurance shall not be subrogated to any claim of Occupant against Owner, Owner’s agents, or employees. It is expressly agreed between Occupant and Owner that it is intended that insurance covered be acquired by Occupant to cover loss of the property due to any acts whatsoever of the Owner, Owner’s agents, or employees, whether intentional or negligent, or active or passive in nature, which results in any loss, disposal, or damage to the Occupant’s stored property. GRAND STORAGE LLC HASSLE FREE GUIDELINES:
Sample 1

Related to Insurance obligation

  • Finance Obligations means, at any date, (i) all Senior Credit Obligations, (ii) all Swap Obligations of a Loan Party permitted hereunder owed or owing to any Swap Creditor and (iii) all Cash Management Obligations.

  • Reference Obligation means an obligation used for the purposes of determining the cash settlement value of a credit derivative;

  • Service obligation means the contractual obligation undertaken by an individual under section 2705 or section 2707 to provide health care services for a determinable time period at a site designated by the department.

  • Compliance obligation means the quantity of verified reported emissions or assigned emissions for which an entity must submit compliance instruments to ARB.

  • Guaranty Obligation has the meaning specified in the definition of "Contingent Obligation."

  • Reference Obligations The residential mortgage loans identified on xxxx://xxx.xxxxxxxxxx.xxx/creditriskofferings/security_data.html. Reference Pool: All of the Reference Obligations, collectively.

  • Sukuk Obligation means any undertaking or other obligation to pay any money given in connection with the issue of trust certificates or other instruments intended to be issued in compliance with the principles of Shari'ah, whether or not in return for consideration of any kind.

  • Net Obligation means the amount owed to PJMSettlement and PJM for purchases from the PJM Markets, Transmission Service, (under Tariff, Parts II and III , and other services pursuant to the Agreements, after applying a deduction for amounts owed to a Participant by PJMSettlement as it pertains to monthly market activity and services. Should other markets be formed such that Participants may incur future Obligations in those markets, then the aggregate amount of those Obligations will also be added to the Net Obligation.

  • public service obligation means any obligation imposed upon air carriers to ensure on a specified route the minimum provision of scheduled air services satisfying fixed standards of continuity, regularity, pricing and minimum capacity which air carriers would not assume if they were solely considering their commercial interest. Air carriers may be compensated by the Party concerned for fulfilling public service obligations;

  • Compliance Obligations means obligations of the AMC to comply with: (a) laws or international guidance and internal policies or procedures, (b) any demand or request from authorities or reporting, disclosure or other obligations under laws, and (c) laws requiring us to verify the identity of our customers.

  • Loan obligation means a bond, note, or other evidence of an obligation issued by a qualified borrower.

  • Escrow Obligations means (a) Government Obligations, (b) certificates of deposit issued by a bank or trust company which are (1) fully insured by the Federal Deposit Insurance Corporation or similar corporation chartered by the United States or (2) secured by a pledge of any Government Obligations having an aggregate market value, exclusive of accrued interest, equal at least to the principal amount of the certificates so secured, which security is held in a custody account by a custodian satisfactory to the Registrar or the Registrar, as the case may be, or (c)(1) evidences of a direct ownership in future interest or principal on Government Obligations, which Government Obligations are held in a custody account by a custodian satisfactory to the Registrar pursuant to the terms of a custody agreement in form and substance acceptable to the Registrar and (2) obligations issued by any state of the United States or any political subdivision, public instrumentality or public authority of any state, which obligations are fully secured by and payable solely from Government Obligations, which Government Obligations are held pursuant to an agreement in form and substance acceptable to the Registrar and, in any such case, maturing as to principal and interest in such amounts and at such times as will insure the availability of sufficient money to make the payment secured thereby.

  • Indemnity Obligations means all obligations of the Company to Indemnitee under this Agreement, including the Company’s obligations to provide indemnification to Indemnitee and advance Expenses to Indemnitee under this Agreement.

  • Eligible obligation means an obligation issued or incurred by an authority or by a municipality on behalf of an authority before August 19, 1993 and its subsequent refunding by a qualified refunding obligation. Eligible obligation includes an authority’s written agreement entered into before August 19, 1993 to pay an obligation issued after August 18, 1993 and before December 31, 1996 by another entity on behalf of the authority.

  • Guaranty Obligations means, with respect to any Person, without duplication, any obligations of such Person (other than endorsements in the ordinary course of business of negotiable instruments for deposit or collection) guaranteeing or intended to guarantee any Indebtedness of any other Person in any manner, whether direct or indirect, and including without limitation any obligation, whether or not contingent, (i) to purchase any such Indebtedness or any Property constituting security therefor, (ii) to advance or provide funds or other support for the payment or purchase of any such Indebtedness or to maintain working capital, solvency or other balance sheet condition of such other Person (including without limitation keep well agreements, maintenance agreements, comfort letters or similar agreements or arrangements) for the benefit of any holder of Indebtedness of such other Person, (iii) to lease or purchase Property, securities or services primarily for the purpose of assuring the holder of such Indebtedness, or (iv) to otherwise assure or hold harmless the holder of such Indebtedness against loss in respect thereof. The amount of any Guaranty Obligation hereunder shall (subject to any limitations set forth therein) be deemed to be an amount equal to the outstanding principal amount (or maximum principal amount, if larger) of the Indebtedness in respect of which such Guaranty Obligation is made.

  • Guarantee Obligation as to any Person (the “guaranteeing person”), any obligation of (a) the guaranteeing person or (b) another Person (including, without limitation, any bank under any letter of credit) to induce the creation of which the guaranteeing person has issued a reimbursement, counterindemnity or similar obligation, in either case guaranteeing or in effect guaranteeing any Indebtedness, leases, dividends or other obligations (the “primary obligations”) of any other third Person (the “primary obligor”) in any manner, whether directly or indirectly, including, without limitation, any obligation of the guaranteeing person, whether or not contingent, (i) to purchase any such primary obligation or any property constituting direct or indirect security therefor, (ii) to advance or supply funds (A) for the purchase or payment of any such primary obligation or (B) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary obligor, (iii) to purchase property, securities or services primarily for the purpose of assuring the owner of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation or (iv) otherwise to assure or hold harmless the owner of any such primary obligation against loss in respect thereof; provided, however, that the term Guarantee Obligation shall not include endorsements of instruments for deposit or collection in the ordinary course of business. The amount of any Guarantee Obligation of any guaranteeing person shall be deemed to be the lower of (a) an amount equal to the stated or determinable amount of the primary obligation in respect of which such Guarantee Obligation is made and (b) the maximum amount for which such guaranteeing person may be liable pursuant to the terms of the instrument embodying such Guarantee Obligation, unless such primary obligation and the maximum amount for which such guaranteeing person may be liable are not stated or determinable, in which case the amount of such Guarantee Obligation shall be such guaranteeing person’s maximum reasonably anticipated liability in respect thereof as determined by such guaranteeing person in good faith.

  • Obligation Guaranty means any Guarantee of all or any portion of the Secured Obligations executed and delivered to the Administrative Agent for the benefit of the Secured Parties by a guarantor who is not a Loan Party.

  • Hedging Liability means the liability of the Borrower or any Guarantor to any of the Lenders, or any Affiliates of such Lenders in respect of any Hedging Agreement as the Borrower or such Guarantor, as the case may be, may from time to time enter into with any one or more of the Lenders party to this Agreement or their Affiliates, whether absolute or contingent and howsoever and whensoever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions therefor).

  • Non-recourse Obligation means indebtedness or other obligations substantially related to (1) the acquisition of assets not previously owned by the Company or any direct or indirect Subsidiaries of the Company or (2) the financing of a project involving the development or expansion of properties of the Company or any direct or indirect Subsidiaries of the Company, as to which the obligee with respect to such indebtedness or obligation has no recourse to the Company or any direct or indirect Subsidiary of the Company or such Subsidiary’s assets other than the assets which were acquired with the proceeds of such transaction or the project financed with the proceeds of such transaction (and the proceeds thereof).

  • Eligible Obligations means (a) with respect to Securities denominated in Dollars, Governmental Obligations; or (b) with respect to Securities denominated in a currency other than Dollars or in a composite currency, such other obligations or instruments as shall be specified with respect to such Securities, as contemplated by Section 2.01.

  • Loan Obligations means (a) the due and punctual payment by the Borrower of (i) the unpaid principal of and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the Loans made to the Borrower under this Agreement, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (ii) each payment required to be made by the Borrower under this Agreement in respect of any Letter of Credit, when and as due, including payments in respect of reimbursement of disbursements, interest thereon (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) and obligations to provide Cash Collateral and (iii) all other monetary obligations of the Borrower owed under or pursuant to this Agreement and each other Loan Document, including obligations to pay fees, expense reimbursement obligations and indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), and (b) the due and punctual payment of all obligations of each other Loan Party under or pursuant to each of the Loan Documents.

  • Indemnification Obligation means any existing or future obligation of any Debtor to indemnify current and former directors, officers, members, managers, agents or employees of any of the Debtors who served in such capacity, with respect to or based upon such service or any act or omission taken or not taken in any of such capacities, or for or on behalf of any Debtor, whether pursuant to agreement, the Debtors’ respective memoranda, articles or certificates of incorporation or formation, corporate charters, bylaws, operating agreements, limited liability company agreements, or similar corporate or organizational documents or other applicable contract or law in effect as of the Effective Date, excluding any obligation to indemnify any of the foregoing parties with respect to any act or omission for or on behalf of the Debtors arising out of any act or omission determined by a Final Order to constitute actual fraud, willful misconduct, or gross negligence.

  • Financial Instrument Obligations means obligations arising under:

  • L/C Reimbursement Obligation means, for any Letter of Credit, the obligation of the Borrower to the L/C Issuer thereof, as and when matured, to pay all amounts drawn under such Letter of Credit.

  • DIP Obligations means “DIP Obligations” as defined in the DIP Order.

  • Bank Products Obligations of any Person means the obligations of such Person pursuant to any Bank Products Agreement.