Underlying Limit of Liability definition

Underlying Limit of Liability means the combined limits of liability of the Underlying Policies, less any reduction or exhaustion of the limits of liability due to payment of loss under those policies.
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Underlying Limit of Liability means the combined limits of liability of the Underlying Policies as set forth in Item G. and H. of the Declarations, less any reduction or exhaustion of said limits of liability due to payment of loss under said policies.
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Examples of Underlying Limit of Liability in a sentence

  • Where the Underlying Insurance is subject to an aggregate Limit of Liability that is greater than its each and every Claim limit, no provision of the Underlying Insurance shall operate to make the Insurer liable before the full amount of the Underlying Insurance’s aggregate limit has been exhausted except where and to the extent a single loss has exceeded the each and every Claim Underlying Limit of Liability.

  • This policy shall not apply to any coverage provided by the Underlying Insurance for which a sub-limit applies for an amount less than the Underlying Limit of Liability stated in the Schedule.

  • This policy shall not apply to any coverage provided by the Underlying Insurance for which a separate sub- limit applies for an amount less than the Underlying Limit of Liability stated in the Schedule.

  • Total Amount of Underlying Limit of Liability $<enter total amount of underlying limit of liability>.

  • Whilst many of these organisations state that they only want to fund research of direct relevance to their members, few extend this policy as far as asking patients or clinicians about their priorities.

  • To the extent that any Underlying Limit of Liability is not maintained in full effect during this Policy Period, the Insureds shall be deemed to be self-insured for the amount of the Limit of Liability of the Underlying Limit of Liability which is not maintained as set forth above.

  • The Town Mayor visited Ms. LeBlanc on April 17, 2000, and informed her that he was going to ask a respected citizen, Mr. Greenland, to talk with Mr. Bennett about the changes he made to the "official zoning map" and to convince Mr. Bennett that what he had done should be undone.

  • The following is added to Subsection 3.B. of the TERMS, CONDITIONS AND LIMITATIONS section of this Policy:Payment of loss by the insurers of the Underlying Insurance that is not covered under the Scheduled Insuring Agreements above shall not be considered covered loss under this policy, but shall, for purposes of this policy, reduce or exhaust the Underlying Limit of Liability.

  • Total Amount of Underlying Limit of Liability $<enter total amount of underlying limit of liability>.2.

  • The Company shall be liable hereunder only after the insurers under each of the Underlying Policies have paid or have been held liable to pay the full amount of the Underlying Limit of Liability.

Related to Underlying Limit of Liability

  • 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.

  • Limitation of Liability Insert the following Section 15, after Section 14:

  • Loss Payable Clauses means the provisions regulating the manner of payment of sums receivable under the Insurances which are to be incorporated in the relevant insurance document, such Loss Payable Clauses to be in the forms set out in paragraph 4 of this Schedule, or such other form as the Bank may from time to time agree in writing;

  • Maximum Liability has the meaning assigned to such term in Section 10.10.

  • Loss in excess of policy limits means 90.0% of any amount paid or payable by the Company in excess of its policy limits, but otherwise within the terms of its policy, such loss in excess of the Company’s policy limits having been incurred because of, but not limited to, failure by the Company to settle within the policy limits or by reason of the Company’s alleged or actual negligence, fraud or bad faith in rejecting an offer of settlement or in the preparation of the defense or in the trial of an action against its insured or reinsured or in the preparation or prosecution of an appeal consequent upon such an action.

  • Due-on-sale clause The clause in a Security Instrument requiring the payment of the Unpaid Principal Balance of the related Mortgage Loan upon the sale of, or the transfer of an interest in, the related Mortgaged Property.

  • Request regarding a list of collateral means a record authenticated by a debtor requesting that the recipient approve or correct a list of what the debtor believes to be the collateral securing an obligation and reasonably identifying the transaction or relationship that is the subject of the request.

  • Indemnity Amount means the amount of any indemnification obligation payable under the Basic Documents.

  • Defects Liability Certificate means the certificate issued by Architect upon correction of defects by the Contractor.

  • Aircraft Liability This policy does not cover "aircraft liability".

  • emission limit value means the mass, expressed in terms of certain specific parameters, concentration and/or level of an emission, which may not be exceeded during one or more periods of time;

  • Limit of Indemnity means the amount stated in the Schedule pursuant to Clause 5 of this Policy.

  • ESG Pricing Provisions has the meaning specified in Section 2.18.

  • Defects Liability Expiry Certificate means the certificate to be issued by the Client to the Contractor, in accordance with the Contract.

  • Prepayment Charge Schedule As of any date, the list of Prepayment Charges included in the Trust Fund on such date, attached hereto as Schedule 2 (including the prepayment charge summary attached thereto). The Prepayment Charge Schedule shall set forth the following information with respect to each Prepayment Charge:

  • Hovercraft Liability This policy does not cover "hovercraft liability".

  • Standard Amendment Coversheet refers to the form used by the Judicial Council to amend agreements with other parties. Several originally signed, fully executed versions of a Standard Amendment, together with the integrated Contract Documents, shall each represent an Amendment as an individual contract counterpart.

  • Indemnity Cap has the meaning set forth in Section 8.4.3.

  • Liability Cap has the meaning ascribed to it in paragraph 1 of Schedule 9;

  • Title IV-E Foster Care means a federal program authorized under §§ 472 and 473 of the Social

  • Limit of Quantitation or “LOQ” means a measurement of the concentration of a contaminant obtained by using a specified laboratory procedure calibrated at a specified concentration above the method detection level. It is considered the lowest concentration at which a particular contaminant can be quantitatively measured using a specified laboratory procedure for monitoring of the contaminant. This term is also sometimes called limit of quantification or quantification level.

  • Related Liability Amount with respect to any Related Liability on the books of the Assuming Institution, means the amount of such Related Liability as stated on the Accounting Records of the Assuming Institution (as maintained in accordance with generally accepted accounting principles) as of the date as of which the Related Liability Amount is being determined. With respect to a liability that relates to more than one asset, the amount of such Related Liability shall be allocated among such assets for the purpose of determining the Related Liability Amount with respect to any one of such assets. Such allocation shall be made by specific allocation, where determinable, and otherwise shall be pro rata based upon the dollar amount of such assets stated on the Accounting Records of the entity that owns such asset.

  • Plantwide applicability limitation (PAL means an emission limitation expressed in tons per year, for a pollutant at a major stationary source, that is enforceable as a practical matter and established source-wide in accordance with Chapter 19, section 011.