Default Coverage Sample Clauses

The Default Coverage clause defines the protections or remedies available to a party if the other party fails to fulfill its contractual obligations. Typically, this clause outlines the steps that will be taken in the event of a default, such as the right to claim damages, terminate the agreement, or trigger insurance or guarantees. For example, if a supplier fails to deliver goods as agreed, the Default Coverage clause may specify compensation or alternative arrangements. Its core function is to allocate risk and provide a clear process for addressing breaches, thereby ensuring both parties understand their rights and obligations in the event of non-performance.
Default Coverage. If the Faculty Member is enrolling for the first time and does not select a Plan by the enrollment deadline, the Faculty Member will be enrolled in the default plan - the PPO Employee Only coverage. If the Faculty Member is re-enrolling and does not complete his/her enrollment online by the enrollment deadline, the Faculty Member will automatically be enrolled in the preceding year's plan.
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Default Coverage. If the Bargaining Unit member is enrolling for the first time and does not select a Plan by the enrollment deadline, the Bargaining Unit member will be enrolled in the default plan -- HMO, single coverage. If the Bargaining Unit member is re-enrolling and does not return an enrollment form by the enrollment deadline, the Bargaining Unit member will automatically be enrolled in the preceding year's plan.
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Related to Default Coverage

  • Interest Coverage The Company will not permit the ratio of Consolidated Adjusted EBITDA to Consolidated Interest Expense (in each case for the Company’s then most recently completed four fiscal quarters) to be less than 2.50 to 1.00 at any time.

  • Continuing Coverage If a letter of assurance is obtained from any insurer under a Hazard Insurance policy or a Flood Insurance policy that the insurance coverage shall continue in full force and effect, the Servicer shall deposit such letter in the appropriate Servicer Mortgage Loan File.

  • Minimum Interest Coverage The Borrower will not permit the ratio of EBITDA to Consolidated Interest Expense as at any fiscal quarter end for the four fiscal quarters then ending to be less than 3.00 to 1.0.

  • General Liability Coverage The CONTRACTOR shall maintain commercial general liability insurance in an amount of not less than one million dollars ($1,000,000) per occurrence for bodily injury, personal injury, and property damage. If a commercial general liability insurance form or other form with a general aggregate limit is used, either the general aggregate limit shall apply separately to the work to be performed under this Agreement or the general aggregate limit shall be at least twice the required occurrence limit.

  • Basic Coverage Contractor shall provide and maintain at the JBE’s discretion and Contractor’s expense the following insurance during the Term: