Assumed Liability Sample Clauses
The Assumed Liability clause defines the circumstances under which one party agrees to take responsibility for certain risks, obligations, or losses that would otherwise fall to another party. In practice, this clause may specify that a contractor assumes liability for damages caused during the performance of services, or that a buyer assumes liability for goods upon delivery. Its core function is to clearly allocate risk between parties, ensuring that each understands which liabilities they are responsible for, thereby reducing disputes and providing certainty in the contractual relationship.
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Assumed Liability. WE DO NOT INSURE claims arising out of any liability assumed by you only by contract, except those set out in paragraph (b) of “Coverage E
(1) Personal Liability”.
Assumed Liability for any liability assumed by any Insured under any express warranty, guarantee, representation, hold harmless agreement, indemnity contract or similar agreement unless such liability would attach in the absence of such warranty, guarantee, representation, contract or agreement provided that this exclusion shall not apply to the Company’s obligation to advance Defence Costs in accordance with Extension 2.(d);
Assumed Liability. The Insurer will not pay Loss arising out of liability assumed by an Insured.
Assumed Liability. The term “Assumed Liability” shall have the meaning set forth in Section 2.6 hereof.
Assumed Liability. The Buyer shall promptly notify the Sellers of the basis and amount of any such insurance claim. Any such rights of the Buyer to receive payment on any such insurance claim shall be subject to any deductibles, self-insured retentions, retained amounts, retentions or exclusions, to the Buyer’s payment of any retrospectively rated premiums, and to the other terms of the applicable insurance policy. If so requested by any Seller, the Buyer shall, as a condition to receiving payment on any such insurance claim, make arrangements reasonably satisfactory to such Seller for the payment directly to the applicable insurance carrier of any amounts which are the responsibility of the Buyer in accordance with the immediately preceding sentence. This Section 6.11 shall not require any Seller to convert any “claims made” policy to an “occurrence based” policy and shall not obligate any Seller to maintain any insurance policy in effect such that it covers claims made or events occurring after the Closing.
Assumed Liability. The term "Assumed Liability" shall have the meaning set forth in Section 2.4.
Assumed Liability. LESSEE assumes all risk and liability for the loss of, damage to, death of, or injury to any person or property caused by the use, condition, possession, or storage of property leased from LESSOR (“Equipment”) as well as all other risks and liabilities arising from the same.
Assumed Liability. Liability you assume by agreement other than liability, which would have arisen if such agreement had not been entered into.
Assumed Liability. Any claims arising out of any liability assumed by the Participant by agreement, unless such liability would have attached to the Participant in the absence of such agreement.
Assumed Liability. To the extent that the foregoing undertakings by VitalStream may be unenforceable for any reason, VitalStream shall make the maximum contribution to the payment and satisfaction of the Losses described above incurred by any Purchase Share Indemnitee which is permissible under applicable Law.