Examples of Underlying Policies in a sentence
In no event shall this policy grant broader coverage than would be provided by any of the Underlying Policies.
If this condition is breached then this Policy shall automatically and immediately terminate with effect from the date when the Underlying Policies cease to be maintained or are deemed to have ceased to be maintained.
We agreed the "Aggregate Original Principal of Eligible Receivables Sold During the Month" and "Aggregate Original Premiums for Underlying Policies" to IPFS's accounting records.
The term "Underlying Policy Limits/Attachment Point" means an amount equal to the aggregate of all limits of liability as set forth in Item 7 of the Declarations for all Underlying Policies, plus the uninsured retention, if any, applicable to the Underlying Policies.
This Policy shall continue in force as primary insurance only upon the exhaustion of the limits of liability of the Underlying Policies by reason of such payment and the satisfaction of any retention amount, if applicable.