JOINT INSURED. If more than one Insured is covered under this Form, the Insured first named shall act for itself and for every other Insured for all purposes of this Form. Knowledge possessed or discovery made by any Insured or by any partner or officer thereof shall, for the purposes of items 9, 10, and 17, constitute knowledge possessed or discovery made by every Insured. Cancellation of the insurance hereunder as respects any Employee as provided in item 17 shall apply to every Insured. If, prior to the cancellation or termination of this Form, this Form or any Insuring Agreement hereof is cancelled or terminated as to any Insured, there shall be no liability for any loss sustained by such Insured unless discovered within one year from the date of such cancellation or termination. Payment by the Insurer to the Insured first named of any loss under this Form shall fully release the Insurer on account of such loss. If the Insured first named ceases for any reason to be covered under this Form, then the Insured next named shall thereafter be considered as the Insured first named for all purposes of this Form.
JOINT INSURED. If more than one Insured is named in the Declarations, the Insured first named shall act for every Insured for all purposes of this policy. Knowledge possessed or discovery made by any Insured shall constitute knowledge possessed or discovery made by every Insured.
JOINT INSURED. If more than one Insured is covered under this Form, the Insured first named shall act for itself and for every other Insured for all purposes of this Form. Knowledge possessed or discovery made by any Insured or by any partner or officer thereof shall, for the purposes of Items G., H. and O. of Clause 3, constitute knowledge possessed or discovery made by every Insured. Cancellation of the insurance hereunder as respects any “employee” as provided in Item O. of Clause 3 shall apply to every Insured. If, prior to the cancellation or termination of this Form, this Form or any Insuring Agreement hereof is cancelled or terminated as to any Insured, there shall be no liability for any loss sustained by such Insured unless discovered within one year from the date of such cancellation or termination or, as respects Insuring Agreement I. B, within two years therefrom. Payment by the Insurer to the Insured first named of any loss under this Form shall fully release the Insurer on account of such loss. If the Insured first named ceases for any reason to be covered under this Form, then the Insured next named shall thereafter be considered as the Insured first named for all purposes of this Form.
JOINT INSURED. (i) The first named Insured shown on the Declarations is responsible for the payment of all premiums and will be the payee for any return premiums the Insurer pays.
JOINT INSURED. 1. If the Named Insured consists of more than one entity, then the Named Insured will act for itself and for every other Insured for all purposes of this
JOINT INSURED a. If more than one Insured is named on the “Policy Declarations”, the first Named Insured will act for itself and for every other Insured for all purposes of this insurance. If the first Named Insured ceases to be covered, then the next Named Insured will become the first Named Insured.
JOINT INSURED. 1. If the Insured Organization consists of more than one entity, then the Named Insured acts for itself and for every other Insured Organization for all purposes of Insuring Agreements F, G, H, I or J. Payment by the Company to the Named Insured of First Party Loss or Expenses incurred by any Insured Organization shall fully release the Company of liability for such First Party Loss or Expenses. The Named Insured is responsible for the payment of all premiums and will be the payee for any return premiums the Company pays.
JOINT INSURED. This bond does not indemnify or hold harmless any Insured for loss sustained by a proprietorship, partnership or corporation which is owned, controlled or operated by such Insured and not named as an Insured hereunder, except as may be provided on a limited basis within General Agreement B., but this paragraph does not apply to loss sustained by a nominee organized by an Insured hereunder other than a holding company. If two or more Insureds are covered under this bond, the first named Insured will act for all Insureds. Payment by the Company to the first named Insured of loss sustained by any Insured fully releases the Company on account of such loss. If the first named Insured ceases to be covered under this bond, the Insured next named will thereafter be considered the first named Insured. In the absence of an Insured being specifically next named, the Insured entity having the greatest consolidated assets of all remaining Insureds then becomes the first named Insured. Knowledge possessed or discovery made by any Insured constitutes knowledge or discovery by all Insureds for all purposes of this bond. The liability of the Company for loss or losses sustained by all Insureds will not exceed the amount for which the Company would have been liable had all such loss or losses been sustained by one Insured. If the bond covers loss sustained by two or more Employee Benefit Plans or sustained by any such plan in addition to loss sustained by an Insured other than such plan, it is the obligation of the Insured or the plan administrator of such plans under regulations published by the Secretary of Labor implementing Section 13 of the Welfare and Pension Plans Disclosure Act of 1958 to obtain (under one or more bonds issued by one or more insurers) an amount of coverage for each such plan at least equal to that which would be required if such plans were bonded separately. In compliance with the foregoing paragraph, payment by the Company in accordance with provisions of the bond will be held by the first named Insured, for the use and benefit of any Employee Benefit Plan sustaining loss so covered. To the extent that such payment is in excess of the amount of coverage required by regulations applicable to said plan sustaining such loss, such excess shall be held for the use and benefit of any other Employee Benefit Plan also covered in the event that such other plan discovers that it has sustained loss covered under this bond. If Money or other Property of two or...
JOINT INSURED. 1. If the Named Insured consists of more than one entity, then the first entity named in ITEM 1 of the Declarations will act for itself and for every other Insured for all purposes of this
JOINT INSURED. Only the first named Insured shall have any right to claim, adjust, receive or enforce payment of any loss and shall be deemed to be the sole agent of the others for such purposes and for the giving or receiving of any notice or proof required to be given by the terms of this policy and for the purpose of effecting or accepting any amendments to or termination of this policy. Each and every other Insured shall be conclusively deemed to have consented and agreed that none of them shall have any direct beneficial interest herein or any right of action hereunder whatsoever and that this policy or any right of action hereon shall not be assignable; but knowledge possessed or discovery made by any Insured or by any partner or officer of any Insured shall constitute knowledge possessed or discovery made by all of the Insureds for the purposes of this policy. All losses and other payments, if any, payable by the Company, shall be payable to the first named Insured, without regard to such Insured's obligations to others; and the Company shall not be responsible for the proper application of any payment made. The Company shall not be liable for loss sustained by one Insured to the advantage of any other Insured. If the Company shall agree to and shall make payment to any Insured other than the one first named, such payment shall be treated as though made to the first named Insured.
