Open Perils definition

Open Perils property insurance on a replacement cost basis with the Agreed Value Endorsement waiving co-insurance, all in an amount not less than one hundred percent (100%) of the then Full Insurable Value, without deduction for physical depreciation thereof. Such property insurance shall include a Demolition and Increased Cost of Construction Endorsement as well as such other insurance as the Landlord may from time to time reasonably require to cover other risks and hazards affecting the Premises;
Sample 1
Open Perils for Personal Property – This means that any risk not specifically excluded from the policy is covered. “All Risk” Disclaimer: An “All Risk” contract comes with standard exclusions. These exclusions exist because insurance companies must protect themselves against total catastrophe (war, nuclear disaster, etc.). Also, not all clients require certain coverages (flood, earthquake, etc.) or the coverage is better provided by another contract (cars, aircraft, boats, etc.). Insurance coverage is used for events that are “sudden and accidental” and generally in your control to avoid. Things such as wear and tear, marring, scratching, breakage, mold, mildew or continual leakage are almost always excluded.
Sample 1
Open Perils property insurance on a replacement cost basis with an Agreed Value Endorsement waiving co-insurance and including contingent liability from operation of Building Laws, all in an amount not less than one hundred percent (100%) of the then full replacement cost of the Improvements (exclusive of the cost of excavations, foundations. underground utilities and footings below the lowest basement floor) and Personal Property, without deduction for physical depreciation thereof. Such insurance shall provide for no deductible in excess of $10,000, except for a $25,000 deductible for flood and earthquake. In addition, such property insurance shall include a Demolition and. Increased Cost of Construction Endorsement and a Replacement Cost Endorsement as well as such other insurance as Mortgagee may from time to time designate to cover other risks and hazards affecting the Property. If the Improvements or the use of the Property shall constitute non-conforming structures or uses, an "Ordinance or Law Coverage" endorsement shall be required. Full replacement cost shall be determined from time to time by an appraiser or contractor designated and paid by Mortgagor and reasonably approved by Mortgagee, or by an engineer or appraiser in the regular employ of the insurer;
Sample 1

Examples of Open Perils in a sentence

  • This insurance will be Special Causes of Loss or Open Perils policy form, for the completed value, at replacement cost equal to each Job Order contract price and all subsequent modifications.

  • This insurance will be Special Causes of Loss or Open Perils policy form, for the completed value at replacement cost equal to the GMP and all subsequent modifications.

  • Do you have an All Risk or Open Perils policy to ensure therepairs the vehicle, but the time you spend Cont.

  • The Grantor shall maintain "Open Perils," "Special Form," or "Special Perils" property insurance coverage in an amount not less than one hundred percent (100%) of the replacement cost of all insurable elements of the Real Property and of all tangible Personal Property, with coinsurance waived, or if a coinsurance clause is in effect, with an agreed amount endorsement acceptable to the Beneficiary.

  • Common Features continued Open Perils Coverage The perils that are cited on inland marine forms may be "open perils" or "named perils".

Related to Open Perils

  • Open Period means the period beginning on and including the Trading Day immediately following the Effective Date and ending on the earlier to occur of (i) the date which is thirty-six (36) months from the Effective Date; or (ii) termination of the Agreement in accordance with Section 9, below.

  • Open Positions means aggregate risk disclosure, arising from buy or sell of financial instruments in accordance with Client instructions pending for subsequent counter-transaction to close/settle such market trades/disclosures.

  • Minimal risk means that the probability and magnitude of harm or discomfort anticipated in the research are not greater in and of themselves than those ordinarily encountered in daily life or during the performance of routine physical or psychological examinations or tests.

  • Ten Percent Owner means an employee who owns or is deemed to own (by reason of the attribution rules of Section 424(d) of the Code) more than 10 percent of the combined voting power of all classes of stock of the Company or any parent or subsidiary corporation.

  • Open Position means a Long Position or a Short Position which is not a Completed Transaction.

  • Earthquake insurance, if the Leased Property is currently, or at any time in the future, located within a major earthquake disaster area, in amount, and in such form and substance and with such limits and deductibles as are satisfactory to Landlord; and

  • Ten Percent Shareholder means a person who owns (or is deemed to own pursuant to Section 424(d) of the Code) stock possessing more than 10% of the total combined voting power of all classes of stock of the Company or of any of its Affiliates.

  • General Liability Insurance Subcontractor shall carry minimum primary General Liability Insurance for the following amounts:

  • General Liability means:Your legal liability in respect of Personal Injury and/or Property Damage and/or Advertising Injury caused by or arising out of an Occurrence happening in connection with the Business other than Products Liability.

  • windstorm means straight line winds of at least 80 miles per

  • All Risk property insurance on a full replacement cost basis insuring CLEC’s property situated on or within any CenturyLink Premises. CLEC may elect to insure business interruption and contingent business interruption, as it is agreed that CenturyLink has no liability for loss of profit or revenues should an interruption of service occur.

  • Ten Percent Holder means a person who owns stock representing more than ten percent (10%) of the voting power of all classes of stock of the Company or any Parent or Subsidiary.

  • Ten Percent Owner Optionee means an Optionee who, at the time an Option is granted to the Optionee, owns stock possessing more than ten percent (10%) of the total combined voting power of all classes of stock of a Participating Company within the meaning of Section 422(b)(6) of the Code.

  • Irish Stock Exchange means the Irish Stock Exchange Limited.

  • Approved Stock Exchange means the New York Stock Exchange, NASDAQ or such other stock exchange in the United States of America, the United Kingdom or Hong Kong as is approved in writing by the Facility Agent or, in each case, any successor thereto.

  • Open Fire means any fire wherein the products of combustion are emitted into the open air and are not directed thereto through a stack or chimney.

  • The Stock Exchange means the London Stock Exchange Limited;

  • Substitute Awards means Awards granted or Shares issued by the Company in assumption of, or in substitution or exchange for, awards previously granted, or the right or obligation to make future awards, in each case by a company acquired by the Company or any Subsidiary or with which the Company or any Subsidiary combines.

  • Sovereign Risk means nationalization, expropriation, currency devaluation, revaluation or fluctuation, confiscation, seizure, cancellation, destruction or similar action by any governmental authority, de facto or de jure; or enactment, promulgation, imposition or enforcement by any such governmental authority of currency restrictions, exchange controls, taxes, levies or other charges affecting a Fund's Assets; or acts of armed conflict, terrorism, insurrection or revolution; or any other act or event beyond the Custodian's or such other Person's control.

  • Overall Share Limit means the sum of (a) 26,333,222 Shares, and (b) an annual increase on the first day of each calendar year beginning on and including January 1, 2022 and ending on and including January 1, 2031 equal to the lesser of (i) a number of Shares such that the aggregate number of Shares available for grant under the Plan immediately following such increase shall be equal to 5% of the number of Fully-Diluted Shares on the final day of the immediately preceding calendar year and (ii) such smaller number of Shares as is determined by the Board.

  • Open dump means a site on which any solid waste is placed, discharged, deposited, injected,

  • Liability Insurance means compulsory professional liability errors and omissions insurance required by a governing body;

  • General Liabilities shall have the meaning given it in Article III, Section 6(b) of this Declaration Trust;

  • the London Stock Exchange means London Stock Exchange plc;

  • Main Market means the Main Market of the London Stock Exchange plc;

  • Low risk means normal, uncomplicated prenatal course as determined by adequate prenatal care and prospects for a normal, uncomplicated birth as defined by reasonable and generally accepted criteria of maternal and fetal health.