Limit of Liability definition

Limit of Liability means, with respect to any Insuring Agreement, the limit of liability of the Underwriter for any Single Loss covered by such Insuring Agreement as set forth under the heading “Limit of Liability” in Item 3 of the Declarations or in any Rider for such Insuring Agreement.

Limit of Liability means the limit of liability identified in the Award Letter;

Limit of Liability means, with respect to any Insuring Agreement, the limit of liability of the Underwriter for any

Examples of Limit of Liability in a sentence

• The Limit of Liability for each individual Claim has a maximum threshold of $5000.

• The Insured shall notify the Insurer(s) thereof as soon as reasonably practicable and the Insurer(s) will reimburse the Insured for any such expenditure for the cost of any such repairs, including overhead and expenses, subject always to the Limit of Liability and deductible specified in this policy.

• Any and all premiums payable under this Contract to such Subscribing Reinsurer shall be paid by the Company to the Trust Account of such Subscribing Reinsurer until such time as the fair market value of the Assets on deposit therein is equal to such Subscribing Reinsurer's Aggregate Remaining Limit of Liability.

• Such Subscribing Reinsurer may not withdraw any funds from the Income Account that such Subscribing Reinsurer otherwise would be entitled to withdraw under the terms of the Trust Agreement unless the fair market value of the Assets on deposit in the Trust Account by that Subscribing Reinsurer (directly or by the payment of premium otherwise payable to that Subscribing Reinsurer into the Trust Account) exceeds one hundred percent (100%) of that Subscribing Reinsurer's Aggregate Remaining Limit of Liability.

More Definitions of Limit of Liability

Limit of Liability means the Supplier’s limit of liability identified in the Award Letter;

Limit of Liability means the amount specified in the Schedule.

Limit of Liability means the Limit of Liability specified in the Schedule.

Limit of Liability means the amount specified as such in the Schedule.

Limit of Liability. The total amount that We will pay for repairs or replacement made in connection with all claims that You make pursuant to this Service Agreement shall not exceed the original purchase price of Your Product, less taxes. In the event We make payments for repairs, which in the aggregate, are equal to the original purchase price of Your Product or We replace Your Product, We will have no further obligations under this Service Agreement. IN NO EVENT SHALL THE TOTAL OF ALL CLAIMS OR REPLACEMENT EXCEED THE ORIGINAL PRICE PAID BY YOU FOR THE COVERED PRODUCT. WE SHALL NOT BE LIABLE FOR ANY INCIDENTAL OR CONSEQUENTIAL DAMAGES, INCLUDING BUT NOT LIMITED TO, PROPERTY DAMAGE, LOST TIME OR LOST DATA RESULTING FROM THE FAILURE OF ANY PRODUCT OR EQUIPMENT OR FROM DELAYS IN SERVICE OR THE INABILITY TO RENDER SERVICE. WE SHALL NOT BE LIABLE FOR ANY AND ALL PRE-EXISTING CONDITIONS THAT OCCUR PRIOR TO THE EFFECTIVE DATE OF THIS SERVICE AGREEMENT, INCLUDING INHERENT PRODUCT FLAWS. SERVICE AGREEMENT TERMS: Extension Plans: Coverage under an Extension Plan begins upon expiration of the shortest portion of the manufacturer’s original written warranty. If for example, the manufacturer provides a split warranty coverage program where the term durations are unequal for parts and labor (e.g., three months of labor and twelve months of parts coverage), and You have purchased a 12 month (365 days) extended Service Agreement, this Service Agreement shall commence on day 91 when the shortest portion of the manufacturer’s warranty ends and will provide labor coverage through day 455. Both parts and labor coverage under this Service Agreement shall expire at the end of day 455. During the manufacturer’s warranty period, any and all responsibility for the repair or replacement of Your Product from a covered Failure is the responsibility of the Manufacturer. Coverage purchased under the “OPTIONAL COVERAGES” section and the benefits You are entitled to under the “ADDITIONAL BENEFITS TO YOUR SERVICE AGREEMENT” section begin on the date this Service Agreement was purchased by You. This Service Agreement shall remain in effect, subject to the Limit of Liability defined above, for the term specified in the sales documentation provided to You at the time of purchase.

Limit of Liability means the maximum amount payable by us as stated in the Schedule in respect of each claim or loss.

Limit of Liability means:The amount stated in Item 3 of the Schedule.