Institute Warranty Limits definition

Institute Warranty Limits means the Institute Warranties as defined by the Institute of London Underwriters.
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Institute Warranty Limits means trading limits imposed by the hull insurers on the Vessel.
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Examples of Institute Warranty Limits in a sentence

  • World-wide trading always afloat, always within British Institute Warranty Limits, as may be revised from time to time, or within the limits applying in Owners’ insurances in effect from time to time, however excluding any war zones, embargoed countries and any other areas to which restrictions may be imposed by the United Nations or the flag state.

  • Subject to Clause 12.2, the Vessel shall be permitted to operate between any of the Primary Terminals and any other port in the world as Customer shall direct within Institute Warranty Limits, as amended from time to time (and Customer shall reimburse Contractor in accordance with Clause 26.3 in relation to any additional insurance premiums, crew bonuses and other expenses incurred by Contractor where the Vessel is ordered to trade in areas where there is a war (defacto or de jure) or threat of war).

  • Trading always within Institute Warranty Limits, but Charterers have the option to trade beyond Institute Warranty Limits subject to Owner’s and their Underwriter’s prior consent, against paying to Owners additional insurance premium (if any) on hull and machinery as per vouchers from vessel’s Underwriters, but such additional premium not to exceed the amount charged if vessel had been insured by Lloyd’s of London.

  • Subject to Clause 12.2, the Vessel shall be permitted to operate between any of the Primary Terminals and any other port in the world as Charterer shall direct within Institute Warranty Limits, as amended from time to time (and Charterer shall reimburse Owner in accordance with Clause 34 in relation to any additional insurance premiums, crew bonuses and other expenses incurred by Owner where the Vessel is ordered to trade in areas where there is war (de facto or de jure) or threat of war).

  • Charterers have option to break Institute Warranty Limits in Alaska paying all additional Premiums incurred as per invoices/vouchers from Owners Underwriters/Insurance Brokers.

  • IWL Clause Charterers have the option to break Institute Warranty Limits subject to Owners prior written approval which not to be unreasonably withheld, Charterers paying extra insurance premium according to Owners’ underwriting tariff but same not to exceed what is quoted by Lloyds of London.

  • The Vessel may trade between any other ports in any part of the world as Charterer shall direct within British Institute Warranty Limits, as amended from time to time; provided that Charterer shall not SPECIFIC TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED.

  • TCL shall be entitled to fix the Tankers worldwide within Institute Warranty Limits.

  • The Vessel shall be employed in lawful trades within Institute Warranty Limits and within the Trading Limits set out in PART 1, Section L.

  • TCL shall, with the consent of the Participants, have liberty to break the Institute Warranty Limits, but in this case shall ensure that any additional insurance is arranged for any applicable voyages and/or any additional insurance premiums are paid.

Related to Institute Warranty Limits

  • Third Party Liability has the meaning ascribed thereto in Section 8.3.2;

  • 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

  • Independent Valuation Provider means any of Xxxxxxx & Marsal, Xxxxxxxx Xxxxx Xxxxxx & Xxxxx Capital, Inc., Duff & Xxxxxx LLC, Xxxxxx, Xxxxxx and Company, Lincoln Partners Advisors, LLC, Xxxxx Xxxxxx Xxxx, LLC and Valuation Research Corporation and Xxxxx, or any other Independent nationally recognized third-party appraisal firm selected by the Administrative Agent, and reasonably acceptable to the Borrower.

  • High Deductible Health Plan means a Health Plan as defined by 26 USC § 223(c)(2)(A) that also is a Qualified Health Plan.

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

  • Excluded Liability means any liability that is excluded under the Bail-In Legislation from the scope of any Bail-In Action including, without limitation, any liability excluded pursuant to Article 44 of the Bank Recovery and Resolution Directive.

  • 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.

  • REASONABLY SAFE FROM FLOODING Means base flood waters will not inundate the land or damage structures to be removed from the floodplain and that any subsurface waters related to the base flood will not damage existing or proposed buildings.

  • Eligible surplus lines insurer means a nonadmitted insurer with which a surplus lines

  • Eligible In-Transit Inventory means, as of any date of determination thereof, without duplication of other Eligible Inventory, In-Transit Inventory:

  • Eligible Liabilities and “Special Deposits” have the meanings given to them from time to time under or pursuant to the Bank of England Act 1998 or (as may be appropriate) by the Bank of England;

  • 1940 Act Asset Coverage means “asset coverage,” as defined for purposes of Section 18(h) of the 1940 Act, of at least 200% with respect to all outstanding senior securities of the Fund which are shares of stock for purposes of the 1940 Act, including all outstanding MuniFund Term Preferred Shares (or such other asset coverage as may in the future be specified in or under the 1940 Act or by rule, regulation or order of United States Securities and Exchange Commission as the minimum asset coverage for senior securities which are shares of stock of a closed-end investment company).

  • Non-Participating Certified Nurse Practitioner means a Certified Nurse Practitioner who does not have a written agreement with the Claim Administrator or another Blue Cross and/or Blue Shield Plan to provide services to you at the time services are rendered.

  • Controlled Group Liability means any and all liabilities (i) under Title IV of ERISA, (ii) under Section 302 of ERISA, (iii) under Sections 412 and 4971 of the Code, and (iv) as a result of a failure to comply with the continuation coverage requirements of Section 601 et seq. of ERISA and Section 4980B of the Code.

  • Compensable injury means an injury by accident arising out of and in the course of hazardous employment which must be established by medical evidence supported by objective medical findings.

  • Excluded Representations has the meaning set forth in Section 7.3(a).

  • Medicaid Notification of Termination Requirements Any Contractor accessing payments for services under the Global Commitment to Health Waiver and Medicaid programs who terminates their practice will follow the Department of Vermont Health Access, Managed Care Organization enrollee notification requirements.

  • BRRD Liability means a liability in respect of which the relevant Write Down and Conversion Powers in the applicable Bail-in Legislation may be exercised.

  • Defect Liability Period in relation to a work means the specified period from the date of COMPLETION CERTIFICATE upto the date of issue of FINAL CERTIFICATE during which the CONTRACTOR stands responsible for rectifying all defects that may appear in the works executed by the CONTRACTOR in pursuance of the CONTRACT and includes warranties against Manufacturing/Fabrication/ Erection/Construction defects covering all materials plants, equipment, components, and the like supplied by the CONTRACTOR, works executed against workmanship defects.

  • Environmental Damage means any injury or damage to persons, living organisms or property (including offence to man’s senses) or any pollution or impairment of the environment resulting from the discharge, emission, escape or migration of any substance, energy, noise or vibration;

  • MREL Eligible Liabilities means “eligible liabilities” (or any equivalent or successor term) which are available to meet any MREL Requirement (however called or defined by then Applicable MREL Regulations) of the Issuer under Applicable MREL Regulations;

  • Short-term acute care facility means a facility or Hospital that provides care to people with medical needs requiring short-term Hospital stay in an acute or critical setting such as for recovery following a surgery, care following sudden Sickness, Injury, or flare-up of a chronic Sickness.

  • Gross Liability Value means, with respect to any Liability of the Partnership described in Treasury Regulation Section 1.752-7(b)(3)(i), the amount of cash that a willing assignor would pay to a willing assignee to assume such Liability in an arm’s-length transaction.