Examples of Liabilities in a sentence
Any claim by the Administering Authority under Clause 2.1 (Failure to pay Scheme Liabilities) must be made by the service of a Payment Notice, which is to be accepted by the Guarantor as conclusive evidence for all purposes that the amount claimed is due to the Administering Authority.
Where, after a Relevant Event has occurred, the Admission Body has failed to pay any Scheme Liabilities (in whole or in part) to the Administering Authority within 20 Business Days of service on the Admission Body of a written demand from the Administering Authority, the Guarantor must pay to the Administering Authority such sum or sums as the Administering Authority claims in respect of the unpaid Scheme Liabilities.
Where, after a Relevant Event has occurred, the Admission Body has failed to pay any Scheme Liabilities (in whole or in part) to the Administering Authority within 20 Business Days of service on the Admission Body of a written demand from the Administering Authority, the Guarantor must pay to the Administering Authority such sum or sums (not exceeding in the aggregate the Bond Amount) as the Administering Authority claims in respect of the unpaid Scheme Liabilities.
Liabilities are recognised in the statement of financial position when it is seems probable that future economic benefits will flow out of the company and the value of the liability can be reliably measured.
Such obligations to defend, hold harmless and indemnify an Indemnitee shall not apply to the extent that such Liabilities are caused in whole or in part by the sole negligence active negligence, or willful misconduct of such Indemnitee but shall apply to all other Liabilities.