meet such obligations, to the extent that such payment will enable the Insured to meet such obligations, without any benefit accruing to such general partner(s) from such payment; and
(2) as respects limited partners or Members the value of such limited partners or Members investment in the Insured.
(i) Forgery means:
(1) affixing the
handwritten signature, or a reproduction of the handwritten signature, of another natural person without authorization and with intent to deceive; or
(2) affixing the name of an organization as an endorsement to a check without authority and with the intent to deceive.
Provided, however, that a signature which consists in whole or in part of ones own name signed with or without authority, in any capacity, for any
purpose is not a Forgery. An electronic or digital signature is not a reproduction of a handwritten signature or the name of an organization affixed as an endorsement to a check.
(j) Guarantee means a Written undertaking obligating the signer to pay the debt of another to the Insured or its assignee or to a financial institution from
which the Insured has purchased participation in the debt, if the debt is not paid in accordance with its terms.
(k) Letter of Credit means a Written
engagement by a bank made at the request of a customer that the bank will honor drafts or other demands for payment upon compliance with the conditions specified in the engagement.
(l) Loan means all extensions of credit by the Insured and all transactions creating a creditor relationship in favor of the Insured and all transactions by
which the Insured assumes an existing creditor relationship.
(m) Member means a natural person who has an ownership interest in a limited liability
company.
(n) Messenger means an Employee while in possession of the Insureds Property away from the Insureds premises, and any other natural
person acting as custodian of the Property during an emergency arising from the incapacity of the original Employee.
(o) Money means a medium of exchange
in current use authorized or adopted by a domestic or foreign government as a part of its currency.
(p) Negotiable Instrument means any writing:
(1) signed by the maker or drawer;
(2) containing any unconditional promise or order to pay a sum certain in Money and no other promise, order, obligation or power given by the
maker or drawer;
(3) payable on demand or at a definite time; and
(4) payable to order or bearer.
(q) Original
means the first rendering or archetype and does not include photocopies or electronic transmissions even if received and printed.
(r) Partner means a
natural person who:
(1) is a general partner of the Insured, or
(2) is a limited partner and an Employee (as defined in Section 1(f)(1) of this bond) of the Insured.
(s) Property means Money, Certificated Securities, Negotiable Instruments, Certificates of Deposit, documents of title, Evidences of Debt, Security
Agreements, Withdrawal Orders, certificates of origin or title, Letters of Credit, insurance policies, abstracts of title, deeds and mortgages on real estate, revenue and other stamps, tokens, unsold state lottery tickets, books of account and other
records whether recorded in Written form or stored on any tangible media, gems, jewelry, precious metals of all kinds and in any form, (which are collectively the enumerated items of property) and tangible items of personal property which are not
hereinbefore enumerated.
(t) Security Agreement means a Written agreement which creates an interest in personal property or fixtures and which secures
payment or performance of an obligation.
(u) Transportation Company means any organization which regularly provides its own or leased vehicles for
transportation of its customers property or which provides freight forwarding or air express services.
(v) Withdrawal Order means a Written non-negotiable instrument signed by
a customer of the Insured authorizing the Insured to debit the customers account in the amount of funds stated therein.
(w) Written means expressed
through letters or marks placed upon paper and visible to the eye.
EXCLUSIONS
Section 2. This bond does not cover:
(a) loss resulting
directly or indirectly from Forgery or alteration, except when covered under Insuring Agreements (A), (D), or (E);
(b) loss due to riot or civil
commotion outside the United States of America and Canada; or loss due to military, naval or usurped power, war or insurrection unless such loss occurs in transit in the circumstances recited in Insuring Agreement (C), and unless, when such transit
was initiated, there was no knowledge of such riot, civil commotion, military, naval or usurped power, war or insurrection on the part of any person acting for the Insured in initiating such transit;
(c) loss resulting directly or indirectly from the effects of nuclear fission or fusion, radioactivity or chemical or biological contamination;
(d) loss resulting directly or indirectly from any act or acts of any person who is a member of the Board of Directors of the Insured or a member of any
equivalent body by whatsoever name known, except when covered under Insuring Agreement (A);
(e) loss resulting directly or indirectly from the complete
or partial nonpayment of, or default upon, any Loan or transaction involving the Insured as a lender or borrower, or extension of credit, including but not limited to the purchase, discounting or other acquisition of false or genuine accounts,
invoices, notes, agreements or Evidences of Debt, whether such Loan, transaction or extension was procured in good faith or through trick, artifice, fraud or false pretenses, except when covered under Insuring Agreements (A), or (E);
(f) loss resulting from any violation by the Insured or by any Employee:
(1) of any law regulating: (i) the issuance, purchase or sale of securities, (ii) securities transactions upon any security
exchanges or over the counter market, (iii) investment companies, or (iv) investment advisers, or
(2) of any rule or
regulation made pursuant to any such law,
unless it is established by the Insured that the act or acts which caused the said loss involved dishonest or
fraudulent conduct which would have caused a loss to the Insured in a similar amount in the absence of such laws, rules or regulations;
(g) loss
resulting directly or indirectly from the failure of a financial or depository institution, or its receiver or liquidator, to pay or deliver, on demand of the Insured, funds or Property of the Insured held by it in any capacity, except when covered
under Insuring Agreements (A) or (B)(1)(a);
(h) loss caused by an Employee, except when covered under Insuring Agreement (A) or when covered
under Insuring Agreement (B) or (C) and resulting directly from unintentional acts of the Employee causing misplacement, mysterious unexplainable disappearance or destruction of or damage to Property;
(i) loss resulting directly or indirectly from transactions in a customers account, whether authorized or unauthorized, except the unlawful withdrawal
and conversion of Money, securities or precious metals, directly from a customers account by an Employee provided such unlawful withdrawal and conversion is covered under Insuring Agreement (A);
(j) damages resulting from any civil, criminal or other legal proceeding in which the Insured is alleged to have engaged in racketeering activity except when
the Insured establishes that the act or acts giving rise to such damages were committed by an Employee under circumstances which result directly in a loss to the Insured covered by Insuring Agreement (A). For the purposes of this exclusion,
racketeering activity is defined in 18 United States Code 1961 et seq., as amended;
(k) loss resulting directly or indirectly from the use,
or purported use, of credit, debit, charge, access, convenience, cash management or other cards:
(1) in obtaining credit or funds,