Multiple underwriters Sample Clauses

The 'Multiple underwriters' clause defines the arrangement where more than one underwriter is responsible for providing coverage under an insurance policy. In practice, this clause outlines how the obligations, liabilities, and premiums are divided among the participating underwriters, often specifying each party's share or percentage of the risk. This structure ensures that the risk is spread across several entities, reducing the exposure for any single underwriter and providing greater security and capacity for the insured.
Multiple underwriters. 2.6.1 The insurance may be underwritten by more than one insurer, each of which must be a qualifying insurer, provided that the insurance may provide that the insurer shall be severally liable only for its respective proportion of liability in accordance with the terms of the insurance. 2.6.2 Where the insurance is underwritten jointly by more than one insurer: (a) the insurance must state which qualifying insurer shall be the lead insurer; and (b) in addition to any proportionate limit on defence costs in accordance with clause 2.3, the insurance may provide that each insurer’s liability for defence costs is further limited to the extent or the proportion of that insurer’s liability (if any) in relation to the relevant claim.
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Multiple underwriters. Where the insurance is underwritten jointly with any other insurer: (a) the Insurer shall be severally liable only for its respective proportion of liability as set out in the Schedule; and (b) in addition to the proportionate limit on Defence Costs in accordance with clause 2.3, the Insurer’s liability for Defence Costs shall be further limited to the extent or proportion of the Insurer’s liability (if any) in relation to the relevant Claim. Where the insurance is written jointly with any other insurer on an excess of loss basis, and the Insurer is writing one of the excess layers, the provisions of Part 3 shall apply.
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Multiple underwriters. Where the insurance is underwritten jointly with any other insurer: (a) the insurer shall be severally liable only for its respective proportion of liability as set out in the schedule; and (b) in addition to the proportionate limit on defence costs in accordance with clause 2.3, the insurer‘s liability for defence costs shall be further limited to the extent or proportion of the insurer‘s liability (if any) in relation to the relevant claim. Where the insurance is written jointly with any other insurer on an excess of loss basis, and the
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Multiple underwriters. 2.6.1 The insurance may be underwritten by more than one insurer, each of which must be a Qualifying Insurer, provided that the insurance may provide that the Insurer shall be severally liable only for its respective proportion of liability in accordance with the terms of the insurance. 2.6.2 Where the insurance is underwritten jointly by more than one insurer: (a) the insurance must state which Qualifying Insurer shall be the Lead Insurer; and (b) in addition to any proportionate limit on Defence Costs in accordance with clause 2.3, the insurance may provide that each Insurer’s liability for Defence Costs is further limited to the extent or the proportion of that Insurer’s liability (if any) in relation to the relevant Claim.
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Related to Multiple underwriters

  • Offering by the Underwriters It is understood that the several Underwriters are to make a public offering of the Firm Shares as soon as the Representatives deem it advisable to do so. The Firm Shares are to be initially offered to the public at the initial public offering price set forth in the Prospectus. The Representatives may from time to time thereafter change the public offering price and other selling terms. To the extent, if at all, that any Option Shares are purchased pursuant to Section 2 hereof, the Underwriters will offer them to the public on the foregoing terms. It is further understood that you will act as the Representatives for the Underwriters in the offering and sale of the Shares in accordance with a Master Agreement Among Underwriters entered into by you and the several other Underwriters.

  • Representation of the Underwriters The Representatives will act for the several Underwriters in connection with this financing, and any action under this Agreement taken by the Representatives will be binding upon all the Underwriters.

  • Relationship Among Underwriters and Selected Dealers We shall have full authority to take such actions as we deem advisable in all matters pertaining to any Offering under this Master SDA. You are not authorized to act as an agent for us, any Underwriter or the Issuer or other Seller of any Securities in offering Securities to the public or otherwise. Neither we nor any Underwriter will be under any obligation to you except for obligations assumed hereby or in any Wire from us in connection with any Offering, and no obligations on our part as the Manager will be implied hereby or inferred herefrom. Nothing contained in this Master SDA or any Wire shall constitute the Selected Dealers an association or partners with us or any Underwriter or with one another, and the obligations of you and each of the other Selected Dealers or any of the Underwriters are several and not joint. If the Selected Dealers, among themselves, with us or with the Underwriters, should be deemed to constitute a partnership for federal income tax purposes, then you elect to be excluded from the application of Subchapter K, Chapter 1, Subtitle A of the Internal Revenue Code of 1986 and agree not to take any position inconsistent with such election. You authorize the Manager, in its discretion, to execute on your behalf such evidence of such election as may be required by the U.S. Internal Revenue Service. In connection with any Offering, you will be liable for your proportionate share of the amount of any tax, claim, demand or liability that may be asserted against you alone or against one or more Selected Dealers participating in such Offering, or against us or the Underwriters, based upon the claim that the Selected Dealers, or any of them, constitute an association, an unincorporated business or other entity, including, in each case, your proportionate share of the amount of any expense (including attorneys’ fees and expenses) incurred in defending against any such tax, claim, demand or liability.

  • Offering by Underwriters It is understood that the several Underwriters propose to offer the Securities for sale to the public as set forth in the Prospectus.

  • Underwriters The copies of the Registration Statement and each amendment thereto furnished to the U.S. Underwriters will be identical to the electronically transmitted copies thereof filed with the Commission pursuant to ▇▇▇▇▇, except to the extent permitted by Regulation S-T.