Party Liability definition

Party Liability. Insurance As Chairman of the Board of Management, and in all functions which he holds on the basis of and in connection with the Company, the Member of the Board of Management is insured during the term of this agreement and after that, as to his third party liability in accordance with the policy affixed as Attachment C. The costs of the insurance are for account of the Company. If the Member of the Board of Management, on the basis of his above-mentioned liability, which does not fall under the coverage of above insurance policy, is held liable for damages according to a judicial decision, the Company shall compensate the Member of the Board of Management for the material damage suffered by the Member of the Board of Management,
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Examples of Party Liability in a sentence

  • In Third Party Liability actions, no motions shall be prepared, filed or served without prior consultation with Citizens’ Claims & Litigation Legal Services or Citizens’ Litigation Specialist.

  • With respect to the acceptance flight, LESSOR's representatives will receive the same protections as LESSOR on LESSEE's Aviation and Airline General Third Party Liability Insurance.

  • For a period of two (2) years after such sale or assignment and at LESSEE's cost, LESSEE will continue to name LESSOR as an additional insured under the Aviation and Airline General Third Party Liability Insurance required pursuant to Article 17 and Exhibit C.

  • Semi- Annually OnBase CM-27 CM-27 Third Party Liability (TPL) Identification Reporting (Appendix H) 1.

  • If an Indemnifying Party fails or declines to assume the defense of any such claim or action within **** after notice thereof, the Indemnified Party may assume the defense of such claim or action at the cost and risk of the Indemnifying Party, and any Third Party Liabilities related thereto shall be conclusively deemed a Third Party Liability of the Indemnifying Party.

  • Third Party Liability may include, but is not limited to private health insurance, automobile insurance, Medicare, Tricare or an employer-administered ERISA plan.

  • The Contractor shall make reasonable efforts to pursue the recovery of Third Party Liability for Services provided to Enrollees.

  • The Contractor shall develop policies and procedures describing how it intends to conduct Third Party Liability recovery.

  • Contractor will use reasonable efforts to evaluate the probable existence of Third Party Liability and may not shift that burden to a Provider.

  • Employment Practices Liability coverage must specifically state Third Party Liability coverage is included.

Related to Party Liability

  • Third Party Liability means both of the following:

  • Contingent Liability means any agreement, undertaking or arrangement by which any Person guarantees, endorses or otherwise becomes or is contingently liable upon (by direct or indirect agreement, contingent or otherwise, to provide funds for payment, to supply funds to, or otherwise to invest in, a debtor, or otherwise to assure a creditor against loss) the indebtedness, obligation or any other liability of any other Person (other than by endorsements of instruments in the course of collection), or guarantees the payment of dividends or other distributions upon the shares of any other Person. The amount of any Person’s obligation under any Contingent Liability shall (subject to any limitation set forth therein) be deemed to be the outstanding principal amount (or maximum outstanding principal amount, if larger) of the debt, obligation or other liability guaranteed thereby.

  • Product Liabilities means any Liability arising out of, relating to or resulting from actual or alleged harm, injury, damage or death to persons in connection with the use of any product (including in any clinical trial or study);

  • BRRD Liability means a liability in respect of which the relevant Write Down and Conversion Powers in the applicable Bail-in Legislation may be exercised.

  • Senior Higher Priority Liabilities means any obligations in respect of principal of the Issuer under any Notes and any other unsecured and unsubordinated obligations (créditos ordinarios) of the Issuer, other than the Senior Non Preferred Liabilities; and