Severability of Interest definition

Severability of Interest. Except with respect to the insurance company's limits of liability each liability insurance policy shall apply separately to each insured against whom claim or suit is brought. The inclusion of any person or organization as an insured shall not affect any right which such person or organization would have as a claimant if not so included. Aggregate Limits/Blanket Coverage: If any of the required insurance coverage contain aggregate limits, or apply to other operations or tenancy of Contractor not related to this Agreement, Contractor shall give LAHSA prompt, written notice of any incident, occurrence, claim, settlement or judgment against such insurance which in Contractors best judgment may diminish the protection such insurance affords LAHSA. Further, Contractor shall immediately take all reasonable and available steps to restore such aggregate limits or shall provide other insurance protection for such aggregate limits. LAHSA may at its option, specify a minimum acceptable aggregate for each line of coverage required. Self-Insurance and Self-Insured Retention’s: Self-insurance Programs and self-insured retention in insurance policies are subject to separate approval by LAHSA upon review of evidence of Contractor's financial capacity to respond. Additionally, such Programs or retention must provide LAHSA with at least the same protection from liability and defense of suits as would be afforded by first-dollar insurance. LAHSA will consider a self-insured Program or self-insured retention as an alternative to commercial insurance from Contractor upon review and approval of the following: A formal declaration to be self-insured for the type and amount of coverage indicated. This can be a corporate resolution or a certified statement from a corporate official or an authorized principal of a partnership or a sole proprietorship. Contractor must notify LAHSA immediately of discontinuation or substantial change in the Program. Agreement to provide LAHSA at least the same defense of suits and payment of claims as would be provided by first dollar commercial insurance. Agreement to notify LAHSA immediately of any claim, judgment, settlement, award, verdict or change in Contractor's financial condition which would have a significant negative effect on the protection that the self-insurance Program provides LAHSA. Name, address and telephone number of Contractor's legal counsel and claims representative, respectively, for the self-insurance Program. Financial stat...
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Severability of Interest. The Lessee 's insurance shall apply separately to each insured against whom claim is made or suit is brought, except with respect to the limits of the insurer's liability. Applicable to General Liability and Auto Liability policies.
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Severability of Interest or “Separation of Insureds” clause (CGL & BAL);
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Examples of Severability of Interest in a sentence

  • Such insurance is primary insurance and shall contain a Severability of Interest clause as respects each insured.

  • The word "salary" comes from the fact that workers were once paid in salt that is essential for human life and once was a rare and highly prized commodity before it became widely available.

  • The General Liability coverage shall contain a Severability of Interest provision and shall be primary insurance as respects The Regents of the University of California, its officers, agents and employees.

  • Severability of Interest ClauseCoverage applies separately to each insured, except with respect to the limits of liability, and that an act or omission by one of the named insureds shall not reduce or avoid coverage to the other named insureds.

  • Such insurance shall be in the name of the Contractor, the Engineer and the Owner, and shall include a Cross Liability or Severability of Interest Clause.

  • Severability of Interest: CONTRACTOR’s insurance shall apply separately to each insured against whom claim is made or suit is brought, except with respect to the limits of the insurer’s liability.

  • Coverage must include a Primary and Non-Contributory provision and a Severability of Interest provision.

  • All insurance policies, other than the Workers Compensation policy and the Surveyor’s Professional Liability policy, provided by Contractor to meet the requirements of this Agreement shall name the City as an additional insured through the use of ISO Endorsement No. CG 20.10.10.01 and No. CG 20.37.10.01 wording, as to the operations of Contractor under the Contract Documents and shall also provide the Severability of Interest provision (also referred to as the Separation of Insureds provision).

  • Severability of Interest Endorsement: Insurance provided by this policy shall apply separately to each insured who is seeking coverage or against whom a claim is made or a suit brought, except with respect to the policy's limits of liability.

  • Such insurance is primary insurance and shall contain a Severability of Interest clause with respect to each insured.

Related to Severability of Interest

  • Severability If any provision of this Consulting Agreement is invalid, illegal, or unenforceable, the balance of this Consulting Agreement shall remain in effect, and if any provision is inapplicable to any person or circumstance, it shall nevertheless remain applicable to all other persons and circumstances.

  • Identity of Interest means a situation in which a Project Participant has a direct or indirect interest in the ownership of an entity which contracts with a Project Participant to provide land, goods, loans, financial support, or services for the project or where there is a financial, familial, or business relationship that permits less than arm’s length transactions.

  • Governing Law This Agreement is governed by, and shall be construed in accordance with, English law.

  • Expression of Interest means a statement of qualifications submitted in response to and according to the terms of this Request for Expressions of Interest;

  • Calculation of Interest Interest on the Notes (including interest for partial periods) will be calculated on the basis of a 360-day year of twelve 30-day months. (Examples of interest calculations are as follows: October 1, 1998 to April 1, 1999 equals 6 months and 0 days, or 180 days; the interest paid equals 180/360 times the annual rate of interest times the principal amount of the Note. The period from December 3, 1998 to April 1, 1999 equals 3 months and 28 days, or 118 days; the interest payable equals 118/360 times the annual rate of interest times the principal amount of the Note.)

  • Specific Redemption Provisions means, with respect to a Special Dividend Period either, or any combination of, (i) a period (a "Non-Call Period") determined by the Board of Directors of the Corporation, after consultation with the Auction Agent and the Broker-Dealers, during which the shares of AMPS subject to such Dividend Period shall not be subject to redemption at the option of the Corporation and (ii) a period (a "Premium Call Period"), consisting of a number of whole years and determined by the Board of Directors of the Corporation, after consultation with the Auction Agent and the Broker-Dealers, during each year of which the shares of AMPS subject to such Dividend Period shall be redeemable at the Corporation's option at a price per share equal to $25,000 plus accumulated but unpaid dividends plus a premium expressed as a percentage of $25,000, as determined by the Board of Directors of the Corporation after consultation with the Auction Agent and the Broker-Dealers.

  • Tax Event Redemption means, if a Tax Event shall occur and be continuing, the redemption of the Notes, at the option of the Company, in whole but not in part, on not less than 30 days nor more than 60 days' written notice.

  • Tax Event Upon Merger has the meaning specified in Section 5(b).

  • Tax Event Redemption Date means the date upon which a Tax Event Redemption is to occur.

  • Tax Event Redemption Price means an amount equal to the unpaid principal amount of this Note to be redeemed, which shall be determined by multiplying (1) the Outstanding Principal Amount of this Note by (2) the quotient derived by dividing (A) the outstanding principal amount to be redeemed by Principal Life of the Funding Agreement by (B) the outstanding principal amount of the Funding Agreement.

  • TIA Applicability Determination As defined in Section 12.12.

  • Termination of irradiation means the stopping of irradiation in a fashion which will not permit continuance of irradiation without the resetting of operating conditions at the control panel.

  • Redemption Provisions Initial Redemption Date: Initial Redemption Percentage: Annual Redemption Percentage Reduction, if any: Repayment Provisions: Optional Repayment Date(s):

  • Conditions of Tender means the Conditions of Tender for the said land as set out in Annexure A;

  • Redemption Rescission Event means the occurrence of (a) any general suspension of trading in, or limitation on prices for, securities on the principal national securities exchange on which shares of Common Stock or Marketable Securities are registered and listed for trading (or, if shares of Common Stock or Marketable Securities are not registered and listed for trading on any such exchange, in the over-the-counter market) for more than six-and-one-half (6-1/2) consecutive trading hours, (b) any decline in either the Dow Xxxxx Industrial Average or the S&P 500 Index (or any successor index published by Dow Xxxxx & Company, Inc. or S&P) by either (i) an amount in excess of 10%, measured from the close of business on any Trading Day to the close of business on the next succeeding Trading Day during the period commencing on the Trading Day preceding the day notice of any redemption of Securities is given (or, if such notice is given after the close of business on a Trading Day, commencing on such Trading Day) and ending at the time and date fixed for redemption in such notice or (ii) an amount in excess of 15% (or if the time and date fixed for redemption is more than 15 days following the date on which such notice of redemption is given, 20%), measured from the close of business on the Trading Day preceding the day notice of such redemption is given (or, if such notice is given after the close of business on a Trading Day, from such Trading Day) to the close of business on any Trading Day at or prior to the time and date fixed for redemption, (c) a declaration of a banking moratorium or any suspension of payments in respect of banks by Federal or state authorities in the United States or (d) the occurrence of an act of terrorism or commencement of a war or armed hostilities or other national or international calamity directly or indirectly involving the United States which in the reasonable judgment of the Company could have a material adverse effect on the market for the Common Stock or Marketable Securities.

  • Has a record of such impairment means has a history of, or has been misclassified as having, a mental or physical impairment that substantially limits one or more major life activities.

  • statutory provision means a provision of an Act or of an instrument made under an Act.

  • Illegality has the meaning specified in Section 5(b).

  • In this award, unless the contrary intention appears:Act means the Fair Work Act 2009 (Cth)[Definition of agreement-based transitional instrument inserted by PR994486 from 01Jan10] agreement-based transitional instrument has the meaning in the Fair Work (Transitional Provisions and Consequential Amendments) Act 2009 (Cth)award-based transitional instrument has the meaning in the Fair Work (Transitional Provisions and Consequential Amendments) Act 2009 (Cth)[Definition of default fund employee inserted by PR546067 ppc 01Jan14] default fund employee means an employee who has no chosen fund within the meaning of the Superannuation Guarantee (Administration) Act 1992 (Cth)[Definition of defined benefit member inserted by PR546067 ppc 01Jan14] defined benefit member has the meaning given by the Superannuation Guarantee (Administration) Act 1992 (Cth)[Definition of Division 2B State award inserted by PR503736 ppc 01Jan11] Division 2B State award has the meaning in Schedule 3A of the Fair Work (Transitional Provisions and Consequential Amendments) Act 2009 (Cth)[Definition of Division 2B State employment agreement inserted by PR503736 ppc 01Jan11] Division 2B State employment agreement has the meaning in Schedule 3A of theFair Work (Transitional Provisions and Consequential Amendments) Act 2009 (Cth)[Definition of employee substituted by PR997772 from 01Jan10] employee means national system employee within the meaning of the Act[Definition of employer substituted by PR997772 from 01Jan10] employer means national system employer within the meaning of the Actenterprise award-based instrument has the meaning in the Fair Work (Transitional Provisions and Consequential Amendments) Act 2009 (Cth) [Definition of exempt public sector superannuation scheme inserted by PR546067 ppc 01Jan14] exempt public sector superannuation scheme has the meaning given by theSuperannuation Industry (Supervision) Act 1993 (Cth)[Definition of MySuper product inserted by PR546067 ppc 01Jan14] MySuper product has the meaning given by the Superannuation Industry (Supervision) Act 1993 (Cth)NES means the National Employment Standards as contained in sections 59 to 131 of the Fair Work Act 2009 (Cth)[Definition of on-hire inserted by PR994486 from 01Jan10] on-hire means the on-hire of an employee by their employer to a client, where such employee works under the general guidance and instruction of the client or a representative of the clientstandard rate means the minimum weekly wage for a Storeworker grade 4 in clause 15.1steel distributing employee means an employee working for an employer at a site in or in connection with receiving, unloading, storing, packing, sorting, handling, cutting material to order, preparation for dispatch, loading and dispatch of steel or any similar materialstorage services and wholesale industry means the receiving, handling, storing, freezing, refrigerating, bottling, packing, preparation for sale, sorting, loading, dispatch, delivery, or sale by wholesale, of produce, goods or merchandise as well as activities and processes connected, incidental or ancillary[Definition of transitional minimum wage instrument inserted by PR994486 from 01Jan10] transitional minimum wage instrument has the meaning in the Fair Work (Transitional Provisions and Consequential Amendments) Act 2009 (Cth)wholesale means the sale of commodities in large quantities other than to final consumers

  • Has a record of such an impairment means has a history of, or has been misclassified as having, a mental or physical impairment that substantially limits one or more major life activi- ties.

  • Defeasance Obligations means any of the following obligations:

  • Termination Events means each of the events specified in Clause 10.3 of this Contract.

  • Interest rate as described in division (A) of this section means the federal short-term rate, rounded to the nearest whole number percent, plus five percent. The rate shall apply for the calendar year next following the July of the year in which the federal short-term rate is determined in accordance with division (A)(2) of this section.

  • law enforcement means the prevention, detection or investigation of terrorist offences or other serious criminal offences;

  • Termination for Convenience means the termination of the Trade Contract Agreement or the Trade Contractor Work by the Authority without cause and for the convenience of the Authority as decided in its sole discretion.

  • Level IV Status exists at any date if, on such date, (i) the Borrower has not qualified for Level I Status, Level II Status or Level III Status and (ii) the Borrower's Xxxxx'x Rating is Baa3 or better or the Borrower's S&P Rating is BBB- or better.