Net Liability Clause Samples

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Net Liability. As respects Private Passenger and Commercial Automobile Liability, including No-Fault, Uninsured and Underinsured Motorists, Medical Payments, Garagekeepers Legal Liability and Garage Liability,
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Net Liability. Notwithstanding any provision of this Agreement, every liability of Assignee to ▇▇▇▇▇▇ Estate is subject to and conditioned upon the recoupment of any and all liabilities owing from ▇▇▇▇▇▇ Estate to Assignee, so as to establish a net liability. However, Assignee shall not reduce the amounts of its payments under Article 4 based on its net liability unless (i) this Agreement is properly terminated pursuant to Section 9.2 for ▇▇▇▇▇▇ Estate’s uncured material breach of the Agreement, or (ii) a dispute resolution is pending with regard to whether Assignee has the right to terminate pursuant to Section 9.2 for ▇▇▇▇▇▇ Estate’s uncured material breach of the Agreement,. In the case that such a dispute resolution is pending, Assignee will deposit and maintain in a separate account the amount of its damages and deduct the deposited amounts from payments to ▇▇▇▇▇▇ Estate; the separate account shall belong to Assignee and be used to pay any back amounts due if Assignee does not prevail in dispute resolution.
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Net Liability. The following table provides a reconciliation of changes in fair value of the beginning and ending balances for our derivatives classified as level 3 (in millions): Beginning Balance......................................................................................................... $ 74 $ (21) Unrealized gains/(losses): Included in earnings (1) ........................................................................................... 46 68 Settlements and derivatives entered into during the period ....................................... (105) (8) Ending Balance .............................................................................................................. $ (28) $ 74 Change in unrealized gains/(losses) included in earnings relating to level 3 derivatives still held at the end of the periods............................................................ $ 31 $ 44 (1) Unrealized gains and losses associated with level 3 commodity derivatives are reported in our consolidated statements of operations as supply and logistics segment revenues. Gains and losses associated with interest rate derivatives are reported in our consolidated statements of operations as either other income, net or interest expense. Gains and losses associated with foreign currency derivatives are reported in our consolidated statements of operations as either supply and logistics segment revenues, purchases and related costs, or other income, net. We believe that a proper analysis of our level 3 gains or losses must incorporate the understanding that these items are generally used to hedge our commodity price risk, interest rate risk and foreign currency exchange risk and are therefore offset by the underlying transactions.
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Net Liability. For the purpose of this Article 6, in computing any individual or aggregate amounts of liabilities for indemnification, the amount of each liability shall be deemed to be an amount (i) net of any reasonably anticipated tax benefit to the Indemnified Party; (ii) net of any insurance proceeds which the Indemnified Party, or in the case of a liability of the Company to Charter Oak, the Indemnifying Party, has received and any indemnity, contribution or other similar payment payable by any third party to the Indemnified Party, or in the case of a liability of the Company to Charter Oak, the Indemnifying Party, with respect thereto; and
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Net Liability. The following table provides a reconciliation of changes in fair value of the beginning and ending balances for our derivatives classified as level 3 (in millions): Beginning Balance $ (28) $ 74 Unrealized gains/(losses): Included in earnings (1) (22) 46 Included in other comprehensive income 3 (43) Settlements and derivatives entered into during the period 33 (105) Ending Balance $ (14) $ (28) Change in unrealized gains/(losses) included in earnings relating to level 3 derivatives still held at the end of the periods $ (27) $ 31
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Net Liability. The following table provides a reconciliation of changes in fair value of the beginning and ending balances for our derivatives measured at fair value using inputs classified as level 3 in the fair value hierarchy (in millions): Balance as of January 1, 2008 . . . . . . . . . . . . . . . . . . . . . . . . . . . . $(21) Realized and unrealized gains (losses): Included in earnings(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 68 Included in other comprehensive income . . . . . . . . . . . . . . . . 35 Purchases, issuances, sales and settlements . . . . . . . . . . . . . . . . . (8) Transfers into or out of level 3(2) . . . . . . . . . . . . . . . . . . . . . . . . — Balance as of December 31, 2008 . . . . . . . . . . . . . . . . . . . . . . . . . $ 74 Change in unrealized gains (losses) included in earnings relating to level 3 derivatives still held as of December 31, 2008(3) . . . . . . . . $ 44
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Related to Net Liability

  • Joint Liability 26.1. Notwithstanding anything contained herein or in any agreement between the Issuer and the RTA, the Issuer and the RTA shall be jointly and severally responsible and liable to CDSL, its participants and beneficial owners for compliance with all obligations under this Agreement as also under the Bye Laws and Operating Instructions.

  • Watercraft Liability 1. Coverages E and F do not apply to any "water- craft liability" if, at the time of an "occurrence", the involved watercraft is being: a. Operated in, or practicing for, any prear- ranged or organized race, speed contest or other competition. This exclusion does not apply to a sailing vessel or a predicted log cruise; b. Rented to others; c. Used to carry persons or cargo for a charge; or d. Used for any "business" purpose. 2. If Exclusion B.1. does not apply, there is still no coverage for "watercraft liability" unless, at the time of the "occurrence", the watercraft: a. Is stored; b. Is a sailing vessel, with or without auxiliary power, that is: (1) Less than 26 feet in overall length; or (2) 26 feet or more in overall length and not owned by or rented to an "insured"; or c. Is not a sailing vessel and is powered by: (1) An inboard or inboard-outdrive engine or motor, including those that power a wa- ter jet pump, of: (a) 50 horsepower or less and not owned by an "insured"; or (b) More than 50 horsepower and not owned by or rented to an "insured"; or (2) One or more outboard engines or mo- tors with: (a) 25 total horsepower or less; (b) More than 25 horsepower if the outboard engine or motor is not owned by an "insured"; (c) More than 25 horsepower if the outboard engine or motor is owned by an "insured" who acquired it dur- ing the policy period; or (d) More than 25 horsepower if the outboard engine or motor is owned by an "insured" who acquired it be- fore the policy period, but only if: (i) You declare them at policy incep- tion; or (ii) Your intent to insure them is reported to us in writing within 45 days after you acquire them.

  • Contingent Liability Where we effect or arrange a Transaction, you should note that, depending upon the nature of the Transaction, you may be liable to make further payments when the Transaction fails to be completed or upon the earlier settlement or closing out of your position. You may be required to make further variable payments by way of margin against the purchase price of the investment, instead of paying (or receiving) the whole purchase (or sale) price immediately. The movement in the market price of your investment will affect the amount of margin payment you will be required to make. We will monitor your margin requirements on a daily basis and we will inform you as soon as it is reasonably practicable of the amount of any margin payment required under this clause.

  • Aircraft Liability (Additional requirement applicable for aerial photograph or contract involving any use of aircraft.)

  • Tenant Liability In the event of any sublease or assignment, whether or not with Landlord’s consent, Tenant shall not be released or discharged from any liability, whether past, present or future, under this Lease, including any liability arising from the exercise of any renewal or expansion option, to the extent such exercise is expressly permitted by Landlord. Tenant’s liability shall remain primary, and in the event of default by any subtenant, assignee or successor of Tenant in performance or observance of any of the covenants or conditions of this Lease, Landlord may proceed directly against Tenant without the necessity of exhausting remedies against said subtenant, assignee or successor. After any assignment, Landlord may consent to subsequent assignments or subletting of this Lease, or amendments or modifications of this Lease with assignees of Tenant, without notifying Tenant, or any successor of Tenant, and without obtaining its or their consent thereto, and such action shall not relieve Tenant or any successor of Tenant of liability under this Lease. If Landlord grants consent to such sublease or assignment, Tenant shall pay all reasonable attorneys’ fees and expenses incurred by Landlord with respect to such assignment or sublease. In addition, if Tenant has any options to extend the term of this Lease or to add other space to the Premises, such options shall not be available to any subtenant or assignee, directly or indirectly without Landlord’s express written consent, which may be withheld in Landlord’s sole discretion.