What is the insuring clause

INSURING CLAUSE. Whereas the company, partnership or firm as stated in Item 1 of the Schedule (the “Named Insured”) has made to Underwriters a Proposal, a copy of which is attached hereto, which is hereby agreed to be the basis of this Policy, We, the Underwriters, in consideration of the payment of the Premium stated in Item 8 of the Schedule, agree, subject to all the terms and conditions of this Policy, to indemnify the Insured against all sums which the Insured shall become legally liable to pay as damages and claimants’ costs, fees and expenses as a result of any claim first made against the Insured and notified to Underwriters during the Period of Insurance stated in Item 3 of the Schedule arising out of any negligent act, negligent error or negligent omission by the Insured or any negligent act, negligent error or negligent omission by others for whom the Insured is legally liable, in or about the conduct of the Named Insured's professional business as stated in the Proposal.

• Due-On-Sale Clause The clause in a Security Instrument requiring the payment of the Unpaid Principal Balance of the related Mortgage Loan upon the sale of, or the transfer of an interest in, the related Mortgaged Property.

• Loss Payable Clauses means the provisions regulating the manner of payment of sums receivable under the Insurances which are to be incorporated in the relevant insurance document, such Loss Payable Clauses to be in the forms set out in paragraph 4 of this Schedule, or such other form as the Bank may from time to time agree in writing;

• Model Clauses means the Standard Contractual Clauses for Processors as approved by the European Commission in the form set out in Annex C.

• Additional Clauses means the additional Clauses in Call Off Schedule 14 (Alternative and/or Additional Clauses) and any other additional Clauses set out in the Call Off Order Form or elsewhere in this Call Off Contract;

• Deemer clause means a provision under this title under which upon the

• EU Model Clauses means the (Standard Contractual Clauses (processors)) or any subsequent version thereof published by the European Commission (which will automatically apply). The Standard Contractual Clauses current as of the effective date of the Agreement are attached hereto as Appendix 4.

• Request regarding a list of collateral means a record authenticated by a debtor requesting that the recipient approve or correct a list of what the debtor believes to be the collateral securing an obligation and reasonably identifying the transaction or relationship that is the subject of the request.

• Property Insurance Proceeds Proceeds of any title policy, hazard policy or other insurance policy covering a Mortgage Loan, to the extent such proceeds are received by the Servicer and are not to be applied to the restoration of the related Mortgaged Property or released to the Mortgagor in accordance with the Servicer's servicing procedures, subject to the terms and conditions of the related Mortgage Note and Mortgage.

• Excluded Insurance Proceeds means any proceeds of an insurance claim which the Company notifies the Agent are, or are to be, applied:

• Insurance Add-On Amount means the premium charged to the Obligor in the event that the Servicer obtains Force-Placed Insurance pursuant to Section 4.4.

• Casualty Amount means five hundred thousand Dollars (USD500,000) (or the equivalent in any other currency);

• Acquisition and Construction Fund means the fund so designated in, and created pursuant to, Section 502 hereof.

• Special Primary Insurance Premium With respect to any Special Primary Insurance Policy, the monthly premium payable thereunder. Statutory Trust Statute: Chapter 38 of Title 12 of the Delaware Code, 12 Del.C. §3801 et seq., as the same may be amended from time to time.

• Special Primary Insurance Policy Any Primary Insurance Policy covering a Mortgage Loan the premium of which is payable by the Trustee pursuant to Section 4.04(a), if so identified in the Mortgage Loan Schedule. There are no Special Primary Insurance Policies with respect to any of the Mortgage Loans.

• Insurance Report means an insurance report in respect of the Insurances confirming that such Insurances are placed with such insurers, insurance companies and/or clubs in such amounts, against such risks and in such form as acceptable to the Agent (acting on the instructions from the Finance Parties) and comply with the requirements under Clause 26.3 (Insurance) and the GIEK Guarantee prepared by Bank Assure Insurance Services Inc., or such other reputable insurance advisor approved by the Agent, and dated on or about the date of this Agreement and addressed to, and capable of being relied upon by, the Finance Parties.

• Insurance Rent the aggregate in each year of the gross cost of the premium before any discount or commission for the insurance of:

• Insurance Amount has the meaning set forth in Section 6.12(b).

• Loss of Government property means unintended, unforeseen or accidental loss, damage or destruction to Government property that reduces the Government’s expected economic benefits of the property. Loss of Government property does not include purposeful destructive testing, obsolescence, normal wear and tear or manufacturing defects. Loss of Government property includes, but is not limited to—

• Preliminary Statement has the meaning set forth in Section 3.3(a).

• Casualty insurance means liability insurance.

• Preliminary Mortgage Schedule As defined in Section 3.

• Additional Collateral With respect to any Additional Collateral Mortgage Loan, the marketable securities and other acceptable collateral pledged as collateral pursuant to the related pledge agreements.

• Loan Terms means and refers collectively to (a) all the terms and conditions set out in the Application Form, (b) these General Terms and Conditions, and (d) all terms and conditions specified in the other Loan Documents.

• Insurance and Condemnation Proceeds All proceeds paid under any Insurance Policy or in connection with the full or partial condemnation of a Mortgaged Property, in either case, to the extent such proceeds are not applied to the restoration of the related Mortgaged Property or released to the Mortgagor or any tenants or ground lessors, in either case, in accordance with the Servicing Standard (and in the case of any Mortgage Loan with a related Companion Loan, to the extent any portion of such proceeds are received by the Master Servicer or Certificate Administrator in connection with such Mortgage Loan, pursuant to the allocations set forth in the related Intercreditor Agreement) and the REMIC Provisions.

• Loss Proceeds Account has the meaning set forth in Section 3.3(a).

• Specially constructed vehicle means any vehicle that was not originally constructed under a

INSURING CLAUSE 1.","For the purpose of this INSURING CLAUSE, a mechanically reproduced facsimile signature is treated the same as a handwritten signature.","In order for coverage to apply under this INSURING CLAUSE, all Voice Initiated Funds Transfer Instructions must be received and processed in accordance with the Designated Procedures outlined in the APPLICATION furnished to the COMPANY.","In order for coverage to apply under this INSURING CLAUSE, the ASSURED must hold Items of Deposit for the minimum number of days stated in the APPLICATION before permitting any redemptions or withdrawals, issuing any shares or paying any dividends with respect to such Items of Deposit.","ICAP Bond (5-98) Form 17-02-1421 (Ed. 5-98) Page 2 of 19 Insuring Clauses Extended Forgery For the purpose of this INSURING CLAUSE, a mechanically reproduced facsimile (continued) signature is treated the same as a handwritten signature.","Coverage under this INSURING CLAUSE begins immediately on the receipt of such Property by the natural person or Transportation Company and ends immediately on delivery to the premises of the addressee or to any representative of the addressee located anywhere.","Coverage under this INSURING CLAUSE begins immediately on the receipt of such PROPERTY by the natural person or TRANSPORTATION COMPANY and ends immediately on delivery to the premises of the addressee or to any representative of the addressee located anywhere.","Extended Forgery(continued)For the purpose of this INSURING CLAUSE, a mechanically reproduced facsimile signature is treated the same as a handwritten signature.","In order for coverage to apply under this INSURING CLAUSE the ASSURED shall maintain and follow all APS Designated Procedures.","There shall be no deductible applicable to any loss under INSURING CLAUSE 1 sustained by any Investment Company."],"id":"insuring-clause","title":"INSURING CLAUSE"},"groups":[{"size":2,"snippetLinks":[{"key":"circumstances-under-which","type":"clause","offset":[10,35]},{"key":"the-insurer","type":"clause","offset":[36,47]},{"key":"will-provide","type":"clause","offset":[48,60]},{"key":"cover","type":"clause","offset":[61,66]},{"key":"the-policy","type":"clause","offset":[73,83]},{"key":"pay","type":"clause","offset":[103,106]},{"key":"the-beneficiary","type":"clause","offset":[107,122]},{"key":"your-spouse","type":"clause","offset":[137,148]},{"key":"die","type":"clause","offset":[149,152]},{"key":"cause","type":"clause","offset":[160,165]},{"key":"not-excluded","type":"clause","offset":[166,178]},{"key":"the-agreement","type":"clause","offset":[185,198]},{"key":"limits-of-indemnity","type":"clause","offset":[210,229]},{"key":"set-out","type":"definition","offset":[230,237]},{"key":"the-table","type":"clause","offset":[241,250]}],"samples":[{"uri":"https://theun.ltd/tu/vab/20kdeathpssantam/documents/tc_20k_santam.pdf","label":"Master Agreement","score":10}],"snippet":"means the circumstances under which the Insurer will provide cover under the Policy). The Insurer will pay the Beneficiary should You or Your Spouse die of any cause not excluded under the Agreement, up to the limits of indemnity set out in the table above.","hash":"1530c9cdf9e330e21d20c5456933cf11","id":1},{"size":1,"snippetLinks":[{"key":"pay","type":"clause","offset":[8,11]},{"key":"monthly-benefit","type":"clause","offset":[14,29]},{"key":"insured","type":"clause","offset":[36,43]}],"samples":[{"uri":"/contracts/6EXM7Wuikxn#insuring-clause","label":"Tiffany & Co","score":5}],"snippet":"We will pay a Monthly Benefit if an Insured:","hash":"79c04186c1c6baf3a00d991714b880b8","id":2},{"size":1,"snippetLinks":[{"key":"circumstances-under-which","type":"clause","offset":[10,35]},{"key":"the-insurer","type":"clause","offset":[36,47]},{"key":"will-provide","type":"clause","offset":[48,60]},{"key":"cover","type":"clause","offset":[61,66]},{"key":"pay","type":"clause","offset":[102,105]},{"key":"the-beneficiary","type":"clause","offset":[106,121]}],"samples":[{"uri":"https://www.theun.ltd/tu/fy/documents/tc_fy_rev2.pdf","label":"Agreement","score":12}],"snippet":"means the circumstances under which the Insurer will provide cover under this Policy)The Insurer will pay the Beneficiary:","hash":"c44937c58d0388276357674c79b1bdfe","id":3},{"size":1,"snippetLinks":[{"key":"circumstances-under-which","type":"clause","offset":[10,35]},{"key":"the-insurer","type":"clause","offset":[36,47]},{"key":"will-provide","type":"clause","offset":[48,60]},{"key":"cover","type":"clause","offset":[61,66]},{"key":"pay","type":"clause","offset":[102,105]},{"key":"limits","type":"clause","offset":[117,123]},{"key":"set-out","type":"definition","offset":[124,131]},{"key":"table-of","type":"clause","offset":[139,147]},{"key":"policy-benefits","type":"clause","offset":[148,163]},{"key":"the-beneficiary","type":"clause","offset":[165,180]},{"key":"insured-person","type":"clause","offset":[204,218]}],"samples":[{"uri":"https://theunlimited.co.za/files/367/familyconnecttc.pdf","label":"Master Agreement","score":12}],"snippet":"means the circumstances under which the Insurer will provide cover under this Policy)The Insurer will pay, up to the limits set out in the Table of Policy Benefits, the Beneficiary should You (or another Insured Person);","hash":"da03bc37d681884b4c4d90a0bcaffb7e","id":4}],"nextCurs":""}} id=pagination-first-page>