SUIT OR OTHER ACTION Sample Clauses

The "Suit or Other Action" clause defines the procedures and requirements for initiating legal proceedings or other formal actions related to the contract. Typically, this clause outlines the circumstances under which a party may file a lawsuit, seek arbitration, or pursue other remedies, and may specify time limits, jurisdiction, or notice requirements. Its core function is to provide a clear framework for resolving disputes, ensuring that both parties understand their rights and obligations if a conflict arises.
SUIT OR OTHER ACTION. No suit, arbitration, or other action on this policy for the recovery of any claim shall be sustainable in any court of law or equity or any other forum unless all the requirements of this policy have been complied with and unless commenced within twelve (12) months after the inception of the loss. We will pay all sums that the insured becomes legally obligated to pay as damages because of bodily injury or property damage to which this policy applies. This policy applies only to bodily injury or 1. That is caused by an occurrence; and 2. That occurs while this policy is in effect. We have the right and duty to defend any such claim or suit seeking covered damages. We may investigate and settle any claim or suit at our discretion but: 1. The amount we will pay for damages is limited as described in the LIMITS OF INSURANCE section of this policy. 2. Our right and duty to defend ends when we have exhausted the applicable limit of insurance in the payment of judgements or settlements. No other obligation or liability to pay sums or perform acts or services is covered unless explicitly provided under SUPPLEMENTARY PAYMENTS AND ADDITIONAL COVERAGES.
View SourceView Similar (5)

Related to SUIT OR OTHER ACTION

  • Suits or Other Proceedings 76 8.14 Notice of Environmental Complaint or Condition.................................................76 8.15

  • Litigation or Other Proceedings promptly upon any Officer of Company obtaining knowledge of (1) the institution of, or non-frivolous threat of, any Proceeding against or affecting Company or any of its Subsidiaries or any property of Company or any of its Subsidiaries not previously disclosed in writing by Company to Lenders or (2) any material development in any Proceeding that, in any case:

  • Other Action If the Corporation, after the date hereof, shall take any action affecting the Common Shares other than action described in Section 4.1, which in the reasonable opinion of the directors of the Corporation would materially affect the rights of Registered Warrantholders, the Exercise Price and/or Exchange Rate, the number of Common Shares which may be acquired upon exercise of the Warrants shall be adjusted in such manner and at such time, by action of the directors, acting reasonably and in good faith, in their sole discretion as they may determine to be equitable to the Registered Warrantholders in the circumstances, provided that no such adjustment will be made unless any requisite prior approval of any stock exchange on which the Common Shares are listed for trading has been obtained.

  • Court Action or Other Legal Processes (a) Notwithstanding any other law to the contrary, the liability of NYSERDA to make an interest payment to a Contractor pursuant to this Exhibit shall not extend beyond the date of a notice of intention to file a claim, the date of a notice of a claim, or the date commencing a legal action for the payment of such interest, whichever occurs first. (b) With respect to the court action or other legal processes referred to in subdivision (a) of this section, any interest obligation incurred by NYSERDA after the date specified therein pursuant to any provision of law other than Public Authorities Law Section 2880 shall be determined as prescribed by such separate provision of law, shall be paid as directed by the court, and shall be paid from any source of funds available for that purpose.

  • Pending Litigation or Other Proceedings There is no pending or, to the best of the Backup Servicer’s Knowledge, threatened action, suit, proceeding or investigation before any court, administrative agency, arbitrator or governmental body against or affecting the Backup Servicer which, if decided adversely, would materially and adversely affect (i) the condition (financial or otherwise), business or operations of the Backup Servicer, (ii) the ability of the Backup Servicer to perform its obligations under, or the validity or enforceability of this Indenture or any other documents or transactions contemplated under this Indenture, (iii) any property or title of any Obligor to any property or (iv) the Indenture Trustee’s ability to foreclose or otherwise enforce the Liens of the Timeshare Loans.