BASIS OF CLAIM SETTLEMENT Sample Clauses

BASIS OF CLAIM SETTLEMENT. CONTENTS OR MAJOR APPLIANCES All contents or major appliances losses will be settled on an Actual Cash Value basis and not on Replacement Cost terms. Actual Cash Value will take into account the cost of replacement, less any depreciation or obsolescence. In determining depreciation, the condition immediately preceding the damage, the resale value and the normal life expectancy will be taken into consideration. We will pay the lesser of:
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BASIS OF CLAIM SETTLEMENT. All settlements made under the Policy shall be subject to the following conditions:
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BASIS OF CLAIM SETTLEMENT. We will indemnify you under each policy section that is shown on your Schedule, up to but not exceeding the amount shown. We may choose whether to replace, repair or pay for any loss. Settlement will be based upon the sum insured or market value whichever is the lower, less a deduction for depreciation or wear and tear, unless new for old cover applies The age of any article is judged to be at the time of loss. You must accept that we may appoint a loss adjuster to investigate any claim on our behalf. You must retain any damaged property for inspection unless we have advised otherwise. In the event of theft, attempted theft, vandalism or malicious acts you must notify the police immediately. You may be asked to supply the following items in the event of a theft claim; the remains of an approved lock, a purchase receipt for the approved lock and all keys for the approved lock The age of any pedal cycle shall be determined by the age of the frame. We will pay the cost of repair or pay the cost of replacement as new or at our discretion will arrange for repair or replacement to be effected. Our liability shall not exceed the insured value detailed on your Schedule of cover less any excess as indicated under the claims excess section. When making a claim, you will need to produce evidence of proof of purchase of the pedal cycle, accessories, helmets & clothing or bike box in the form of an original purchase receipt or valuation certificate. In addition, we will reimburse the hire costs of a replacement pedal cycle whilst your own pedal cycle is being repaired or replaced up to the maximum value shown in your schedule. This benefit can only be claimed as part of a claim for repair or replacement of the insured pedal cycle. Upon settlement of a claim for loss or damage where the pedal cycle has been recovered or is deemed a total loss we have the right to take and keep possession of any part or the entire pedal cycle and deal with the salvage in a reasonable manner, but you shall not abandon any pedal cycle to us. In the instance of a pedal cycle being recovered it is your responsibility to notify us. CLAIMS – IMPORTANT POLICYHOLDER ADVICE IF YOU ARE INVOLVED IN AN INCIDENT THAT MIGHT LEAD TO A CLAIM IT IS IMPERATIVE TO REMEMBER THE FOLLOWING: • Always exchange details with the other drivers/cyclists, including names, addresses, registration numbers and Insurer names and policy numbers • Obtain Witness details, including those of Passengers in any vehicle involv...
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BASIS OF CLAIM SETTLEMENT. DWELLING BUILDING AND DETACHED STRUCTURES All Dwelling Building and Detached Structure losses will be settled on an Actual Cash Value basis. Actual Cash Value will take into account the cost of replacement, less any depreciation or obsolescence. In determining depreciation, the condition immediately preceding the damage, the resale value and the normal life expectancy will be taken into consideration. Subject to the Co-Insurance Clause, we will pay the lesser of:
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BASIS OF CLAIM SETTLEMENT. We will pay up to the limit of insurance shown for each item listed on the Coverage Summary page for any insured loss or damage. We will pay the lesser of:
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BASIS OF CLAIM SETTLEMENT. The settlement of any claim will be by replacement, repair and/or compensation at the insurer’s option. In the event of the total loss or destruction of any article/item insured under this insurance, the basis of settlement shall be the cost replacing the article/ item as new provided that the article/item is substantially the same as but not better than the original when new. Household Linen Clothing Where any claim includes loss or damage to any item(s) of household linen and clothing only, the insurer will take into consideration the age, quality, degree of use and consequent market value of any such or damaged item(s).
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Related to BASIS OF CLAIM SETTLEMENT

  • Basis of Settlement Unless otherwise provided, the Insurer is not liable beyond the actual cash value of the property at the time any loss or damage occurs and the loss or damage shall be ascertained or estimated according to such actual cash value with proper deduction for depreciation, however caused, and shall in no event exceed what it would then cost to repair or replace the same with material of like kind and quality.

  • Dispute Settlement 1. A Party may not initiate proceedings under the general dispute settlement provisions of this Agreement regarding a refusal to grant temporary entry under this Chapter unless: (a) the matter involves a pattern of practice; and (b) the business person has exhausted the available administrative remedies regarding the particular matter. 2. The remedies referred to in subparagraph 1(b) shall be deemed to be exhausted if a final determination in the matter has not been issued by the competent authority within one year of the institution of an administrative proceeding, and the failure to issue a determination is not attributable to delay caused by the business person.

  • Loss Settlement Covered property losses are settled as follows:

  • BASIS OF CONTRACT 2.1 The Order constitutes an offer by the Customer to purchase Goods and/or Services in accordance with these Conditions.

  • Disputes Settlement (1) Should any dispute arise as to the operation of this agreement and the parties are unable to resolve that dispute by amicable negotiation the parties shall refer such dispute to the Industrial Relations Commission for -

  • DISPUTE SETTLEMENT PROCEDURE A major objective of this Agreement is to eliminate lost time and/or production arising out of disputes or grievances. Disputes over any work related or industrial matter should be dealt with as close to its source as possible. Disputes over matters arising from this agreement shall be dealt with according to the following procedure. An employee or the union delegate or site xxxxxxx or Enterprise should initially submit any work related grievance and/or industrial matter to the site foreperson, supervisor or other appropriate site representative of the company or appropriate site union representative as relevant. If the matter remains unresolved the union delegate or site xxxxxxx may then submit the matter to the appropriate senior management person. Where relevant the Enterprise may submit the matter to a union official. If still not resolved the delegate or site xxxxxxx shall refer the matter to an appropriate official of the union, who shall discuss the matter with the nominated representative of the Enterprise. If still not resolved there may be discussions between the state secretary and senior management representative. Whilst the above procedures are being followed work should continue as normal. This procedure is to be followed in good faith and without unreasonable delay by any party. Should the matter remain unresolved and where the issue is within the jurisdiction of the Victorian Building Industry Disputes Board (“the Board”), either of the parties shall refer the dispute at first instance to the Board (which shall deal with the dispute in accordance with VBIA procedures and, where required, determine issues of jurisdiction). The Board’s decision will be accepted by all parties subject to the right of either party to refer the dispute to the Australian Industrial Relations Commission for conciliation and if required arbitration. The Commission’s decision will be accepted by all parties subject to legal rights of appeal. This dispute settlement procedure does not apply to health and safety issues or issues of industry, state or national significance.

  • The Settlement The Settlement was reached on May 11, 2018. Class Counsel filed this action on May 10, 2018. Over two years prior to the filing of this action, Class Counsel and Defendant’s Counsel conducted an adversarial informal discovery process. Class Counsel reviewed and analyzed thousands of pages of documents provided by Defendant and also reviewed many other documents, including U.S. Department of Labor Forms 5500 and other publicly available documents. The Parties participated in mediation before a nationally recognized mediator who has extensive experience in resolving similar claims involving other 401(k) plans. Only after six months of extensive arm’s length negotiation following the mediation were the parties able to agree to the terms of the Settlement. As part of the Settlement, a Qualified Settlement Fund of $17,000,000 will be established to resolve the Class Action. The Net Settlement Amount is $17,000,000 minus any Administrative Expenses, taxes, tax expenses, Court-approved Attorneys’ Fees and Costs, Class Representatives’ Compensation, and other approved expenses of the litigation. The Net Settlement Amount will be allocated to Class Members according to a Plan of Allocation to be approved by the Court. In addition to the monetary component of the Settlement, the Parties to the Settlement have agreed to certain additional terms: (1) During the first eighteen months (18) following the final approval of the Settlement, Defendant has agreed that the Plan’s fiduciaries will conduct a Request for Proposal (“RFP”) process for recordkeeping services to the Plan; (2) Within the first year following final approval of the Settlement, Defendant has agreed to publish a communication to then current Plan participants explaining the risks and benefits of the Plan’s money market fund investment option; (3) Defendant also will use an independent consultant familiar with fixed income investment options in defined contribution plans who will review the investment lineup and make recommendations to the Plan’s fiduciaries regarding whether to retain the money market fund and whether to add a stable value or comparable fund; (4) In addition, during the three- year Settlement period, Defendant has agreed to provide Class Counsel a list of the Plan’s investment options and fees; and (5) In considering investment options for the Plan, Defendant has agreed that the Plan’s fiduciaries will consider: (a) the lowest-cost share class available for any particular mutual fund considered for inclusion in the Plan as well as other criteria applicable to different share classes; (b) the availability of revenue sharing rebates on any share class available for any particular mutual fund considered for inclusion in the Plan; and (c) the availability of collective trusts, to the extent such investments are permissible and are otherwise identical to a particular mutual fund considered for inclusion in the Plan.

  • Defense and Settlement The Receiver shall have the right, in its discretion, to (i) defend or settle any claim or suit against the Assuming Institution with respect to which the Receiver has indemnified the Assuming Institution in the same manner and to the same extent as provided in Article XII, and (ii) defend or settle any claim or suit against the Assuming Institution with respect to any Liability Assumed, which claim or suit may result in a loss to the Receiver arising out of or related to this Agreement, or which existed against the Failed Bank on or before the Bank Closing Date. The exercise by the Receiver of any rights under this Section 9.3(a) shall not release the Assuming Institution with respect to any of its obligations under this Agreement.

  • Dispute Settlement Procedures (1) If a dispute relates to:

  • Claims and Settlements Each party shall, within five (5) days after the making of any claim under the Bond, provide UMB Fund Services, Inc. (“UMBFS”) with written notice of the amount and nature of such claim, and UMBFS will provide written notice to all other parties within five (5) days of receipt. Each party shall, within five (5) days of the receipt thereof, provide UMBFS with written notice of the terms of settlement of any claim made under the Bond by such party, and UMBFS will provide written notice to all other parties within five (5) days of receipt. In the event that two or more parties shall agree to settlement with the fidelity company of a claim made under the Bond with respect to a single loss, such parties shall, within five days after settlement, provide UMBFS with written notice of the amounts to be received by each claiming party under Section 4 hereof, and UMBFS will provide written notice to all other parties within five (5) days of receipt. The officer(s) of the respective parties designated as responsible for filing notices required by paragraph (g) of the Rule 17g-1 under the Act shall give and receive any notice required hereby.

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