Base Coverage Sample Clauses

Base Coverage. The amount of base coverage to which an employee under age 65 is eligible shall be equal to the employee' s annual base salary to the next higher thousand dollars of earnings.

Base Coverage. There shall be computed a benefit allocation for each Party (its "Base Coverage") determined by applying to the Policy's limit of liability for that Level the allocation percentage for that Level shown for that Party in Schedule B; Each Party suffering a Covered Loss shall be entitled to a benefit of up to the amount of its Base Coverage. Proportional Allocation to Remaining Losses The amount of any benefit ("Remaining Coverage") remaining after application of Base Coverages to Covered Losses shall be allocated to those Covered Losses (the "Remaining Losses") remaining after application of Base Coverages. The Remaining Coverage retained by each Party shall be limited to the proportion of all Remaining Coverage which the amount of that party's Remaining Losses bears to the Remaining Losses of all Parties. The amount that a Party may recover shall be adjusted if necessary to reflect the fact that there is no priority in time of any claim or recovery. A newly created investment company (a "New Fund") having an administrator, investment adviser or sub-adviser that is, or is an "affiliated person" (as defined in the ▇▇▇▇ ▇▇▇) of, a Service Provider may become a named Insured under and as defined in the Policy, and the Trustees and officers of the New Fund may become insureds, provided that the New Fund causes this Agreement to be signed on its behalf as of the date that it agrees to the terms and conditions of this Agreement; such New Fund shall be deemed to be added to Schedule A. A Fund may become an insured under a Level of the Policy as to which it was not previously insured, and the Trustees and officers of that Fund may become insureds under that Level. A party that is an affiliated person of, or an affiliated person of an affiliated person of, a Service Provider (a "New Service Provider") may become a named insured under the Policy, and its directors and officers may become Insureds, provided that the New Service Provider causes this Agreement to be signed on its behalf as of the date that it agrees to the terms and conditions of this Agreement; such New Service Provider shall thereupon be deemed to be added to Schedule A. In any such event, a new Schedule B hereto, revised by Aquila to reflect changed allocations, shall be substituted for the then-current Schedule ▇. ▇▇▇▇▇▇ shall take all steps necessary or appropriate to maintain coverage under the Policy, including, without limitation, providing the Insurer with all notices necessary or appropriate un...