LE, CHOC 4 - 2015 - Laserfiche WebLink

Home Browse Search

g. All interest onthe full amount ofany judgment that accrues after entry of the judgment and before we have paid, offered to pay, or deposited in court the part of the judgment that is within the applicable limit of insurance. These payments will not reduce the limits of insurance. 2. If we defend on insured against a "suit" and an incl*mnitee ofthe insured is also named as a party to the 'suit', we will defend that indemmitee if all of the following conditions are met: a. The "suit' against the indemni,tee seeks damages for which the insured has assumed the |iobDty of the indemnitee in e contract or agreement that is an "insured contract"; h. This insurance applies to such liability assumed bythe insured; o. The obligation to defemd, or the cost of the defense of, that indwmnitee, has also been assumed by the insured inthe same "insured contract"; d. The allegations inthe ^sub^and the information we know about the "ocounenoe"' are such that no conflict appears to exist between the interests of the insured and the interests of the indomnitee,- e. The indennmitee and the insured ask us to conduct and control the defense of that imdenmnitee against such "suit" and agree that we can assign the same counsel todefend the insured and the imdemnnitee; and f. Theindemnitee: (1) Agrees in writing to: (m) Cooperate with um in the investigation, settlement urdefense ofthe 'suh.� ' (b) Immediately send us copies of any oemenoe, notices, summonses or legal papers received in connection with the ^'amif'; (o) Notify any other �msooywhose coverage is available hmthe imdemmitee; and (d) Cooperate with us with respect to coordinating other applicable insurance available tothe indemnitee; and (2) Provides umwith written authorization to: (m) Obtain records and other information related tmthe ^'ouit"; and (b) Conduct and control the defense of the indemnitee in such "suit", 8o long as the above conditions are met attorneys' fees incurred by us in the defense of that indemnitee, necessary litigation expenses incurred' by us and necessary litigation expenses incurred by the indemnitee at our request will be paid as Supplementary Payments. Notwithstanding the provisions of Paragraph! 2.b.(2) of Section I — Coverage A — Bodily Injury And Property Damage Liability, such payments will not be deemed to be damages for "bodily injury" and "property damage"' and will not reduce the limits of insurance. Our obligation to defend an inoured'n indemnitem and to pay for attorneys' fees and necessary litigation expenses as Supplementary Payments ends when we have used up the applicable limit of insurance in the payment of judgments or settlements or the conditions set forth obmve, or the terms of the agreement described in Panegrephf. above, are molonger met. SECTION N—VVH[J|SAN INSURED 1. |fyou are designated inthe Declarations as: a. An individual, you and your spouse are insunads, but only with respect tothe conduct ofabusiness ofwhich you are the eoUeowner. b. A partnership or joint venture, you: are an insured. Your ber and their spouses are also inaunadm, but only with respect tothe conduct ofyour business. c. /\limited |iabifilycompeny. you are an insured. Your members are also insmneds, but only with respect tothe conduct mfyour business. Your managers are insureds, but only with respect tmtheir duties aoyour managers. dL An organization other than a pertmerahip, joint venture or limited liability company, you are an insured. Your "executive offivars" and directors are insureds, but only with respect to their dmd*m as your officers or directors. Your stockholders are also inounade, but only with respect totheir Wabi|ity as stockholders. e. A trust, you are an insured. Your trustees are also imaunedo, but only with respect to their duties untrustees. CG000d0413 8DInsurance Services Office, |no,2Q12 Page 9of$$