Voluntary Settlement definition

Voluntary Settlement means any fees, fines, or penalties paid by an Insured to a governmental authority pursuant to a Settlement Program for the actual or alleged inadvertent non-compliance by a Plan with any statute, rule or regulation; provided that Voluntary Settlement shall not include (i) any costs to correct the non-compliance, or any other charges, expenses, taxes or damages; or (ii) any fees, fines, or penalties relating to a Plan which, as of the earlier of inception date of this Policy or the inception date of the first policy in an uninterrupted series of policies issued by the Insurer of which this Policy is a direct or indirect renewal or replacement, any Insured Person knew to be actually or allegedly non-compliant.
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Voluntary Settlement means any fees, fines or penalties paid by an Insured to a governmental authority pursuant to a Voluntary Settlement Program for the actual or alleged inadvertent non-Settlement by a Plan with any statute, rule or regulation; provided Voluntary Settlement shall not include (i) any costs to correct the non-compliance, or any other charges, expenses, taxes or damages; or (ii) any fees, fines or penalties relating to a Plan which, as of the earlier of the inception date of this Policy or the inception date of the first policy in an uninterrupted series of policies issued by the Underwriter of which this Policy is a direct or indirect renewal or replacement, any Insured Person knew to be actually or allegedly non- compliant.
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Voluntary Settlement means any fees, fines, penalties or sanctions paid or agreed to be paid by an Insured to a governmental authority pursuant to a Settlement Program for the actual or alleged inadvertent non-compliance by an Insured Plan with any statute, rule or regulation; provided Voluntary Settlement shall not include (i) any costs to correct the non-compliance, or any other charges, expenses, taxes or damages; or (ii) any fees, fines, penalties or sanctions relating to an Insured Plan which, as of the earlier of the inception date of this coverage section or the inception date of the first policy in an uninterrupted series of policies issued by the Insurer of which this coverage section is a direct or indirect renewal or replacement, any Insured Person knew to be actually or allegedly non-compliant.
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Examples of Voluntary Settlement in a sentence

  • The Parties agree to promptly undertake the steps necessary as required by Title 15.2, Chapter 34 of the Code to proceed with this Voluntary Settlement Agreement or other appropriate joint proceeding required to expedite the review of this Agreement by the Commission.

  • The Underwriter shall pay on behalf of the Insureds any Voluntary Settlement and Defense Expenses which the Insureds become legally obligated to pay resulting from a Voluntary Settlement Program Notice first given to the Underwriter during the Policy Period, provided such Voluntary Settlement and Defense Expenses are incurred after such Voluntary Settlement Program Notice is first given to the Underwriter.

  • If an Insured elects to seek coverage for a Fiduciary Inquiry or a Voluntary Settlement Program Notice, the Insured shall give notice of such Fiduciary Inquiry or Voluntary Settlement Program Notice to the Underwriter no later than ninety (90) days after the expiration of the Policy Period or Extended Reporting Period, if exercised.

  • The Underwriter’s maximum liability under this Section II.A for all covered Voluntary Settlements and Defense Expenses, combined, shall be the Voluntary Settlement Program Costs Sublimit of Liability set forth in ITEM 8 of the Declarations.

  • The policy shall be endorsed to provide coverage for non-owned aircraft as well as Guest Voluntary Settlement.

  • If the Scope of Work necessitates the use of aircraft, Seller shall provide Aircraft Liability Insurance which shall be endorsed to provide coverage for non-owned as well as Guest Voluntary Settlement, with limits of: Bodily Injury and $10,000,000 Combined Single Limit Property Damage Each Occurrence Such insurance may be provided by the aircraft operator, by the aircraft charter agreement, or by Seller as Seller deems appropriate.

  • If a Voluntary Settlement Program, or other comparable program is established by the University during the term of the Agreement, Unit Members shall be covered by the provisions of the Program under the same terms and conditions as other full-time personnel.

  • Should there be any disputes regarding the language of any of the final documents, the Parties will seek to resolve those disputes through a Voluntary Settlement Conference with Judge ▇▇▇▇▇▇ ▇▇▇▇▇▇, or if she is not available, through mediation.

  • The policy shall be endorsed to provide coverage for non‑owned aircraft as well as Guest Voluntary Settlement.

  • However, if the parties agree to solve the dispute through the Voluntary Settlement Procedure of article 9(d) below, all efforts shall be made for such actions to be avoided during the course of such procedures.