Maximum Indemnity Period definition

Maximum Indemnity Period means the Maximum Indemnity Period stated in the Schedule.
Sample 1Sample 2Sample 3
Maximum Indemnity Period means maximum duration of the indemnity period covered by the business interruption insurance; it shall be set out in the policy.
Sample 1Sample 2
Maximum Indemnity Period means the period specified in the Schedule.
Sample 1

Examples of Maximum Indemnity Period in a sentence

  • Indemnity Period (Business Interruption Insurance) The period beginning when the Damage occurs and ending when the results of the Business cease to be affected by the Damage but not exceeding the Maximum Indemnity Period (as shown in the Schedule).

  • If the declaration (adjusted as provided for above, and proportionally increased where the Maximum Indemnity Period exceeds twelve months) is: ▪ less than the estimated gross profit or estimated gross revenue for the relevant period the Company will allow a pro rata return premium not exceeding 50% of the premium paid on the estimated gross profit or estimated gross revenue.

  • Loss shall be calculated: ▪ in accordance with the Basis of Settlement; ▪ subject to the Maximum Indemnity Period; and ▪ subject to the Limit of Indemnity shown as applicable in the Schedule.

  • WAGES The remuneration (including EPF contribution, SOCSO, bonuses, holiday pay or other payments pertaining to payroll) of all employees other than those whose remunerations is treated as salaries in the insured’s book of accounts INDEMNITY The period beginning with the occurrence of the damage and ending not later than PERIOD the Maximum Indemnity Period thereafter during which the results of the business shall be affected in consequence of the damage.

  • WAGES The remuneration (including EPF contribution, SOCSO, bonuses, holiday pay or other payments pertaining to payroll) of all employees other than those whose remunerations is treated as salaries in the Insured’s book of accounts INDEMNITY The period beginning with the occurrence of the damage and ending not later than PERIOD the Maximum Indemnity Period thereafter during which the results of the business shall be affected in consequence of the damage.

  • INDEMNITY The period beginning with the occurrence of the damage and ending not PERIOD later than the Maximum Indemnity Period thereafter during which the results of the business shall be affected in consequence of the damage.

  • In the event of the Gross Rental (or a proportionately increased multiple thereof where the Maximum Indemnity Period exceeds twelve months) during the accounting period of twelve months most nearly concurrent with any period of insurance as certified by the Insured’s auditors being less than the sum insured thereon a pro-rata return of premium not exceeding fifty per cent (50%) of the premium paid on such sum insured for such period of insurance will be made in respect of the difference.

  • It being understood that allowances to employees retained in the insured’s services during the Indemnity Period while unable to work in consequence of the damage shall be treated as wages paid: provided that if the Sum Insured by this Item be less than the sum produced by applying the Rate of Wages to the Annual Turnover (or to a proportionately increased multiple thereof where the Maximum Indemnity Period exceeds twelve months) the amount payable shall be proportionately reduced.

  • The period beginning with the occurrence of the damage and ending not later than the Maximum Indemnity Period thereafter during which the results of the business shall be affected in consequence of the damage.

  • Where any Sum Insured (not on a declaration linked basis of cover) by gross revenue or gross profit be less than the sum produced by applying the rate of gross profit or annual revenue to the turnover in the twelve (12) months immediately preceding the damage (or to a proportionately increased multiple thereof where the Maximum Indemnity Period exceeds twelve (12) months) the amount payable shall be proportionately reduced.


More Definitions of Maximum Indemnity Period

Maximum Indemnity Period shall be as defined in Section 4.6 hereof.
Sample 1
Maximum Indemnity Period means the maximum indemnity period(s) as specified in the POLICY SCHEDULE (or elsewhere herein)
Sample 1

Related to Maximum Indemnity Period

  • Indemnity Period means the period during which the results of the business are affected beginning with the occurrence of the monetary win but not exceeding the maximum indemnity period

  • Indemnification Threshold has the meaning set forth in Section 11.5.

  • Indemnification Cap has the meaning set forth in Section 9.4(a).

  • Indemnity Threshold has the meaning set forth in Section 9.3.

  • Indemnification Period means the period of time during which Indemnitee shall continue to serve as a director or as an officer of the Corporation, and thereafter so long as Indemnitee shall be subject to any possible Proceeding arising out of acts or omissions of Indemnitee as a director or as an officer of the Corporation.

  • 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.

  • Defects Liability Period means the warranty period following the taking over, during which the Contractor is responsible for making good, defects and damage in Goods and Services provided, under the Contract.

  • Indemnity Cap has the meaning set forth in Section 8.4.3.

  • Defects Liability Period (Warranty Period) means the period stated in the Schedule A Special Stipulations, following the taking over, during which the Contractor is responsible for making good defects and damage in accordance with Clause 15.

  • Indemnity Amount means the amount of any indemnification obligation payable under the Basic Documents.

  • Maximum Limit means that number of issued Shares representing 10% of the total number of issued Shares as at the date of the passing of this Resolution (excluding any Shares which are held as treasury shares as at that date); and

  • Company Indemnified Party has meaning set forth in Section 8(b) hereof.

  • Company Indemnified Parties has the meaning specified in Section 7.8(a).

  • Buyer Indemnified Party has the meaning set forth in Section 8.2.

  • Indemnified Losses is defined in Section 5.03 of the Servicing Agreement.

  • Parent Indemnified Parties has the meaning set forth in Section 9.2(a).

  • Survival Period has the meaning set forth in Section 11.1.

  • Buyer Indemnified Parties has the meaning set forth in Section 8.2.

  • Indemnified Amount has the meaning set forth in Section 8.01.

  • Seller Indemnified Party has the meaning set forth in Section 7.2.

  • Aggregate Limit shall have the meaning assigned to such term in Section 1.1 hereof.

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

  • Company Indemnified Person means (a) any Administrator; (b) any Affiliate of any Administrator; (c) any officers, directors, shareholders, members, partners, employees, representatives or agents of any Administrator; or (d) any officer, employee or agent of the Trust or its Affiliates.

  • Seller Indemnified Parties has the meaning set forth in Section 8.1.

  • Deductible Amount means, with respect to any Insuring Agreement, the amount set forth under the heading “Deductible Amount” in Item 3 of the Declarations or in any Rider for such Insuring Agreement, applicable to each Single Loss covered by such Insuring Agreement.

  • Purchaser Indemnified Party shall have the meaning set forth in Section 9.1(a).