Obligation to Pay definition

Obligation to Pay in Section 1 of the Security Agreement shall be revised to $6,350,000 upon the Borrower’s receipt of the New Loans
Obligation to Pay. We will not pay any amount under this section unless the insured persons' obligation to pay has been determined by judgment against the insured person after trial or by written agreement between the insured person, the claimant and us. If You Use Someone's Vessel: If, as an individual, you or members of your family who reside with you have permission to use someone else's yacht for private pleasure, this section of the policy and its limits will apply during such use. We will pay for losses only after all other insurance covering the loss has been exhausted. This limitation will apply whether you or the yacht's owner has the other insurance. But we will not pay for damage to or loss of the other person's yacht. Costs: In the case of the liability of the Insured shall be contested in any suit or action, this company will also pay such ensuing costs, subject always to the provisions of theCooperation with Us” clause under “General Conditions”. We will have the right to select the attorneys. We have the right to settle a claim or suit. If we ask, you must attend hearings and trials. You must assist us in obtaining and giving evidence, obtaining witnesses and in making settlements. Federal Longshoremen's and Harbour Workers' Compensation Act of the United States of America: We will provide you with coverage required by the Federal Longshoremen's and Harbour Workers' Compensation Act. We will cover you as long as your responsibility arises from your ownership or use of your yacht. The Longshoremen's and Harbour Workers' Compensation Act is Public Act No. 803 of the 69th Congress, approved March 4, 1927. It also includes any amendments which are in force while this policy is in effect. We will comply with all the provisions of this Act, and with any rules, regulations, orders and decisions of the Office of Workers' Compensation Programs, of the U.S. Department of Labor. POLLUTION /SPILL LIABILITY We agree to pay up to the amount indicated on the Declarations Page for Spill Liability, for the containment, clean-up, property damage and assessments related to any sudden and accidental spillage or leakage of petroleum products, chemicals or other substances of any kind, from the Insured Property for which the Insured Person becomes legally liable through the ownership, maintenance or use of the Insured Vessel. We will settle or defend any claim or suit which asks for these covered expenses or damages. However, this cover is void if an insured fails or refuses to p...

Examples of Obligation to Pay in a sentence

  • Via the button "Order with Obligation to Pay" (or similar), the PSM Customer submits a binding offer for the conclusion of a sales contract on the Porsche Connect Services or PSM Products collected in the cart.

  • Before clicking the button "Order with Obligation to Pay" (or similar), all Porsche Connect Services or PSM Products selected by the PSM Customer, their total price including statutory VAT in the respective applicable amount as well as duties, charges and shipping costs are again displayed in an order overview to the PSM Customer for review.

  • No Legal Obligation to Pay Nongovernmental entities that provide immunizations free of charge to all patients, regardless of their ability to pay, must provide the immunizations free of charge to Medicare beneficiaries and may not bill Medicare.

  • The Province will under no circumstances be liable for interest for failure to make a payment within the time limit provided for in section D3.2 (Claim Payments).D3.4 No Obligation to Pay.

  • Military Bases – Written Obligation to Pay Money: Written obligations to pay money executed on military bases are not taxable.

  • Rooklidge, Licensee Validity Challenges and the Obligation to Pay Accrued Royalties: Lear v.

  • Obligation to Pay Non-Discount PortionApplicants are required to pay the non-discount portion of the cost of the eligible products and/or services to their service providers.

  • Any party required to pay a share of a mediator’s fee under subsections (b) and (c) of this rule may move the court for relief using a Petition and Order for Relief from Obligation to Pay All or Part of Mediator’s Fee in Family Financial Case, Form AOC-CV-828.In ruling upon the motion, the court may consider the income and assets of the movant and the outcome of the dispute.

  • Obligation to Pay Each qualified facility shall be obligated to pay all interconnection costs (as defined in Sub-part A, Sub-section 18 CFR 292.101 (b) (7) of the FERC Rule) which the Cooperative may assess against the facility on a nondiscriminatory basis with respect to other Member-Consumers with similar size and load characteristics.

  • A cannabis business shall operate in compliance with all applicable state and local laws and regulations governing cannabis businesses.B. General Obligation to Pay Taxes.

Related to Obligation to Pay

  • Obligations means any principal, interest, penalties, fees, indemnifications, reimbursements, damages and other liabilities payable under the documentation governing any Indebtedness.

  • Obligation means any principal, interest, penalties, fees, indemnification, reimbursements, costs, expenses, damages and other liabilities payable under the documentation governing any Indebtedness.

  • Payment Obligations means any and all obligations of the Authority to pay or reimburse the Bank contained in or evidenced by any Authority Document, including, without limitation, obligations to reimburse the Bank for all Drawings under the Letter of Credit, all obligations to repay the Bank for any Unreimbursed Amount and any Bank Loan, including all interest accrued thereon, all amounts owing under the Bank Note, the fees relating to the Letter of Credit and all other obligations of the Authority to the Bank arising under, or in relation to, or evidenced by, this GR Reimbursement Agreement or the Bank Note.

  • Pay means rate of compensation for the job.

  • Delay Payments means the amounts payable by the Supplier to the Customer in respect of a delay in respect of a Milestone as specified in the Implementation Plan;

  • Reimbursement Payment shall have the meaning given to that term in Subparagraph 2.02(c).

  • accrued is used in its accounting sense, i.e., an amount paid is no longer accrued. In the calculation of amounts of things, differences and sums may generally result in negative numbers, but when the calculation of the excess of one thing over another results in zero or a negative number, the calculation is disregarded and an "excess" does not exist. Portions of things may be expressed as fractions or percentages interchangeably.

  • Co-payment means a relatively small amount of money paid by the insured person towards the cost of each day in a private hospital per episode of care, with Latrobe paying the rest of the cost.

  • Payable means that a particular benefit shall be paid to Executive in the amount, at the time, and in the form specified herein.

  • Payments has the meaning set forth in Section 8.11.

  • Delay Liquidated Damages has the meaning set forth in Section 13.1.

  • paid means paid or credited as paid;

  • Amounts (As of Date of Item 2 above):

  • Termination Costs means all documented Direct Costs and Indirect Costs incurred by Transmission Owner in connection with the performance of the Services (i) prior to the effective date of termination, including such costs incurred for materials, equipment, tools, construction equipment and machinery, engineering and other items, materials, assets or services that cannot reasonably be avoided, mitigated or cancelled, (ii) to unwind any work undertaken prior to or after the effective date of termination to the extent reasonably necessary to return the Projects to a configuration or condition in compliance with Good Utility Practice and applicable Law, and (iii) arising from cancellation costs relating to orders or contracts entered into in connection with the performance of Services by Transmission Owner prior to the effective date of the termination.

  • Reimbursement Amount As defined in Section 2.04.

  • Termination Payment has the meaning set forth in Section 6.03.

  • Fees means all amounts payable pursuant to, or referred to in, Section 4.1.

  • Reimbursement Obligation the obligation of the Borrower to reimburse the Issuing Lender pursuant to Section 3.5 for amounts drawn under Letters of Credit.

  • SPECIAL LIQUIDATED DAMAGES means the amount payable by the Transport Supplier in case of default arising out of Non-availability of vehicle(s)/crew when the Company's operations are normal and also Non-availability of services due to unauthorized / lightening strike by Transport Supplier or his/her crew for any reason whatsoever. The period of non-availability of services will be treated as shutdown and shall attract Special Liquidated damage at the rate of twice the pro- rata fixed charge per day. Special L.D. shall be levied irrespective of whether such default resulted in a shutdown for the whole day or part thereof.

  • hereunder and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision.

  • Failure to Pay means, after the expiration of any applicable Grace Period (after the satisfaction of any conditions precedent to the commencement of such Grace Period), the failure by a Reference Entity to make, when and where due, any payments in an aggregate amount of not less than the Payment Requirement under one or more Obligations, in accordance with the terms of such Obligations at the time of such failure.

  • Termination Fee has the meaning set forth in Section 7.02(a).

  • AHYDO Payment means any mandatory prepayment or redemption pursuant to the terms of any Indebtedness that is intended or designed to cause such Indebtedness not to be treated as an “applicable high yield discount obligation” within the meaning of Section 163(i) of the Code.

  • Other Obligations means (a) the performance of all obligations of Borrower contained herein; (b) the performance of each obligation of Borrower contained in any other Loan Document; and (c) the performance of each obligation of Borrower contained in any renewal, extension, amendment, modification, consolidation, change of, or substitution or replacement for, all or any part of this Agreement, the Note or any other Loan Document.

  • Indemnity Payment shall have the meaning set forth in Section 4.4(a).

  • Proportionate Share means, with respect to any Lender, the percentage obtained by dividing (a) the sum of the Commitment (or, if the Commitments are terminated, the outstanding principal amount of the Loans) of such Lender then in effect by (b) the sum of the Commitments (or, if the Commitments are terminated, the outstanding principal amount of the Loans) of all Lenders then in effect.