Common use of Claims and Settlements Clause in Contracts

Claims and Settlements. Each party shall, within five (5) business days after making any claim under the Bond, provide every other party with written notice of the amount and nature of such claim. Each party shall, within five (5) business days after the receipt thereof, provide every other party with written notice of the terms of settlement of any claim made under the Bond by such party. In the event that two or more parties shall agree to settlement with the fidelity insurance company of a claim made under the Bond with respect to a single loss, such parties shall, within five (5) business days after settlement, provide any other party not a party to such claim with written notice of the amounts to be received by each claiming party under Section 4 hereof. The officer(s) of the respective Management Investment Companies designated as responsible for filing notices required by paragraph (g) of Rule 17g-1 under the 1940 Act shall give and receive any notice required hereby with respect to the Management Investment Companies.