Common use of Claims Payment Clause in Contracts

Claims Payment. Not later than 11:00 a.m. New York City time on (a) the fifth Business Day following the earlier of (i) any date on which any claim against the Company for payment being made under a TE Support Instrument and (ii) any date on which any written claim by a Customer is made that the Contractor or the applicable Supported Party has failed to make a payment to a Customer when such payment is due and payable under the terms of the applicable Supported Obligation, in each case, the Contractor will pay the Company the amount claimed (the “Claimed Amount”); provided that if and for so long as, in the case of this clause (ii), (x) the Contractor or applicable Supporting Party is disputing its liability to the claiming Customer under the applicable Supported Obligation and (y) the Contractor is in compliance with its obligations under Article V of this Agreement with respect to such dispute, then until such disputed liability has been determined by a final non-appealable court judgment or arbitral award or pursuant to a written settlement or admission approved by the Company and the Contractor, the Contractor’s obligation to pay the Claimed Amount to the Company under this Section 4.01 shall not be deemed to have occurred and the Unused TE Support Commitment shall be reduced by an amount equal to the Claimed Amount (the period of such suspension, a “Dispute Period”) and (b) the first Business Day following any payment by the Company of a Claimed Amount under any TE Support Instrument, the Contractor will reimburse the Company the amount paid (the “Disbursed Amount”). A credit exposure fee will accrue on any Claimed Amount or Disbursed Amount that is not paid by the time required by the preceding sentence (after giving effect to any Dispute Period) (an “Outstanding Amount” and when the Outstanding Amount (excluding Claimed Amounts during a Dispute Period) shall at any time exceed $1,000,000 in the aggregate, a “Payment Failure Event” shall be deemed to have occurred) at a per annum rate equal to the current interest rate determined at the default rate of the funded term loans under the Credit Agreement, which fee shall accrue daily and be payable in cash upon demand.

Claims Payment. Not later than 11:00 a.m. New York City time on (a) All Contract claims services, with the fifth Business Day following the earlier of (i) any date on which any claim against the Company for payment being made under a TE Support Instrument and (ii) any date on which any written claim by a Customer is made that the Contractor or the applicable Supported Party has failed to make a payment to a Customer when such payment is due and payable under the terms exception of the applicable Supported Obligationadjudication of death claims not paid out as a lump sum, shall be performed by LMG on behalf of IIC. Notwithstanding, all such claims in each case, the Contractor will pay the Company the amount claimed (of $100,000 or greater shall be forwarded to IIC for review and approval prior to LMG's payment of the “Claimed Amount”); provided claim. All Contract claims shall be investigated, processed, and paid in accordance with the policies and procedures mutually agreed to by both parties. IIC will make its claims personnel and legal department available at IIC's expense to answer any questions that if might arise from LMG's claims personnel relating to claims investigation, processing, and for so long aspayment of Contract claims. In addition to the foregoing, in the case of this clause (ii)a decision by LMG that a Contract claim should be denied, (x) LMG shall communicate its proposed action to appropriate IIC personnel who must agree and approve the Contractor or applicable Supporting Party proposed claim denial before the claims decision is disputing its liability communicated to the claiming Customer under policyholder or beneficiary. LMG will communicate appropriate details of any proposed claim denial in accordance with notification procedures to be jointly developed by the applicable Supported Obligation parties, which shall be in sufficient time to allow for a response by IIC and (y) the Contractor is in compliance discussion with its obligations under Article V LMG to avoid violation of this Agreement laws with respect to such disputeclaims practices. If no response is received within five (5) business days of transmission, then until such disputed liability has been determined LMG shall have the right to proceed on the basis that IIC is in agreement with the decision to deny the claim. All claims paid by a final non-appealable court judgment LMG from funds collected on behalf of, or arbitral award for, IIC shall be paid only on drafts or pursuant to a written settlement or admission approved checks of, and as authorized by, IIC. All monies received by the Company and the Contractor, the Contractor’s obligation LMG to pay the Claimed Amount to the Company under this Section 4.01 shall not be deemed to have occurred and the Unused TE Support Commitment claims on behalf of IIC shall be reduced by an amount held in a fiduciary capacity. No deposits will be made into, nor disbursements made from, this fiduciary account, with the exception of claims and claims adjustment expenses. This fiduciary account will at all times have a balance equal to the Claimed Amount (amount deposited less claims and claims adjustment expenses paid. LMG is responsible for all correspondence with the period of such suspension, a “Dispute Period”) claimant and (b) the first Business Day following any payment by the Company of a Claimed Amount under any TE Support Instrument, the Contractor will reimburse the Company the amount paid (the “Disbursed Amount”). A credit exposure fee will accrue on any Claimed Amount or Disbursed Amount that is not paid by the time required by the preceding sentence (after giving effect to any Dispute Period) (an “Outstanding Amount” and when the Outstanding Amount (excluding Claimed Amounts during a Dispute Period) shall at any time exceed $1,000,000 in the aggregate, a “Payment Failure Event” shall be deemed to have occurred) at a per annum rate equal to the current interest rate determined at the default rate preparation of the funded term loans under claim checks. Notwithstanding the Credit Agreementforegoing, which fee IIC shall accrue daily and be payable in cash upon demand.provide legal support to LMG. For those claims referred to IIC by LMG, LMG will provide IIC with copies of the following:

Claims Payment. Not later than 11:00 a.m. New York City time on (a) All Policy claims services, with the fifth Business Day following the earlier of (i) any date on which any claim against the Company for payment being made under a TE Support Instrument and (ii) any date on which any written claim by a Customer is made that the Contractor or the applicable Supported Party has failed to make a payment to a Customer when such payment is due and payable under the terms exception of the applicable Supported Obligationadjudication of death claims not paid out as a lump sum, shall be performed by LMG on behalf of Transamerica. All Policy claims shall be investigated, processed and paid in each caseaccordance with the policies and procedures mutually agreed to by both parties. Transamerica's claim personnel who are specified in LMG's claims manual, (approved by Transamerica), shall be made available at Transamerica's expense to answer any questions that might arise from LMG's claims personnel relating to claims investigation, processing and payment of Policy claims. In addition to the Contractor will pay the Company the amount claimed (the “Claimed Amount”); provided that if and for so long asforegoing, in the case of this clause a decision by LMG that a Policy claim should be denied, LMG shall communicate its proposed action to appropriate Transamerica personnel who must agree and approve the proposed claim denial before the claims decision is finalized. LMG will communicate appropriate details of any proposed claim denial in accordance with notification procedures to be jointly developed by the parties. If no response is received within five (ii)5) business days of transmission, (x) LMG shall have the Contractor or applicable Supporting Party is disputing its liability right to proceed on the claiming Customer under the applicable Supported Obligation and (y) the Contractor basis that Transamerica is in compliance agreement with its obligations under Article V the decision to deny the claim. All claims paid by LMG from funds collected on behalf of this Agreement with respect to such dispute, then until such disputed liability has been determined or for Transamerica shall be paid on only drafts or checks of and as authorized by a final non-appealable court judgment or arbitral award or pursuant to a written settlement or admission approved Transamerica. All monies received by the Company and the Contractor, the Contractor’s obligation LMG to pay the Claimed Amount to the Company under this Section 4.01 shall not be deemed to have occurred and the Unused TE Support Commitment claims on behalf of Transamerica shall be reduced by held in an amount administrative capacity. No deposits will be made into, nor disbursements made from this fiduciary account, with the exception of claims and claims adjustment expenses. This fiduciary account will at all times have a balance equal to the Claimed Amount (amount deposited less claims and claims adjustment expenses paid. LMG is responsible for all correspondence with the period claimant and preparation of such suspensionthe claim checks. For those claims referred to Transamerica by LMG, a “Dispute Period”LMG will provide Transamerica with copies of the following: 1) and (b) the first Business Day following any payment by the Company of a Claimed Amount under any TE Support Instrument, the Contractor will reimburse the Company the amount paid (the “Disbursed Amount”). A credit exposure fee will accrue on any Claimed Amount or Disbursed Amount that is Policy records ( including but not paid by the time required by the preceding sentence (after giving effect to any Dispute Period) (an “Outstanding Amount” and when the Outstanding Amount (excluding Claimed Amounts during a Dispute Period) shall at any time exceed $1,000,000 in the aggregate, a “Payment Failure Event” shall be deemed to have occurred) at a per annum rate equal limited to: all correspondence relating to the current interest rate determined at policy) 2) All correspondence with the default rate of the funded term loans under the Credit Agreement, which fee shall accrue daily and be payable in cash upon demandclaimant. 3) Diary screens. 4) Claim proofs.

Claims Payment. Not later than 11:00 a.m. New York City time on (a) All Policy claims services, with the fifth Business Day following the earlier of (i) any date on which any claim against the Company for payment being made under a TE Support Instrument and (ii) any date on which any written claim by a Customer is made that the Contractor or the applicable Supported Party has failed to make a payment to a Customer when such payment is due and payable under the terms exception of the applicable Supported Obligationadjudication of death claims not paid out as a lump sum, shall be performed by LMG on behalf of Hxxxxxx. All Policy claims shall be investigated, processed and paid in each caseaccordance with the policies and procedures mutually agreed to by both parties. Hxxxxxx'x claim personnel shall be made available at Hxxxxxx'x expense to answer any questions that might arise from LMG's claims personnel relating to claims investigation, processing and payment of Policy claims. In addition to the Contractor will pay the Company the amount claimed (the “Claimed Amount”); provided that if and for so long asforegoing, in the case of this clause a decision by LMG that a Policy claim should be denied, LMG shall communicate its proposed action to appropriate Hxxxxxx personnel who must agree and approve the proposed claim denial before the claims decision is finalized. LMG will communicate appropriate details of any proposed claim denial in accordance with notification procedures to be jointly developed by the parties. If no response is received within five (ii)5) business days of transmission, (x) LMG shall have the Contractor or applicable Supporting Party is disputing its liability right to proceed on the claiming Customer under the applicable Supported Obligation and (y) the Contractor basis that Hxxxxxx is in compliance agreement with its obligations under Article V the decision to deny the claim. All claims paid by LMG from funds collected on behalf of this Agreement with respect to such dispute, then until such disputed liability has been determined or for Hxxxxxx shall be paid on only drafts or checks of and as authorized by a final non-appealable court judgment or arbitral award or pursuant to a written settlement or admission approved Hxxxxxx. All monies received by the Company and the Contractor, the Contractor’s obligation LMG to pay the Claimed Amount to the Company under this Section 4.01 shall not be deemed to have occurred and the Unused TE Support Commitment claims on behalf of Hxxxxxx shall be reduced by held in an amount administrative capacity. No deposits will be made into, nor disbursements made from this fiduciary account, with the exception of claims and claims adjustment expenses. This fiduciary account will at all times have a balance equal to the Claimed Amount (amount deposited less claims and claims adjustment expenses paid. LMG is responsible for all correspondence with the period of such suspension, a “Dispute Period”) claimant and (b) the first Business Day following any payment by the Company of a Claimed Amount under any TE Support Instrument, the Contractor will reimburse the Company the amount paid (the “Disbursed Amount”). A credit exposure fee will accrue on any Claimed Amount or Disbursed Amount that is not paid by the time required by the preceding sentence (after giving effect to any Dispute Period) (an “Outstanding Amount” and when the Outstanding Amount (excluding Claimed Amounts during a Dispute Period) shall at any time exceed $1,000,000 in the aggregate, a “Payment Failure Event” shall be deemed to have occurred) at a per annum rate equal to the current interest rate determined at the default rate preparation of the funded term loans under claim checks. For those claims referred to Hxxxxxx by LMG, LMG will provide Hxxxxxx with copies of the Credit Agreement, which fee shall accrue daily and be payable in cash upon demand.following:

Claims Payment. Not later than 11:00 a.m. New York City time on (a) All Policy claims services, with the fifth Business Day following the earlier of (i) any date on which any claim against the Company for payment being made under a TE Support Instrument and (ii) any date on which any written claim by a Customer is made that the Contractor or the applicable Supported Party has failed to make a payment to a Customer when such payment is due and payable under the terms exception of the applicable Supported Obligationadjudication of death claims not paid out as a lump sum, shall be performed by LMG on behalf of Xxxxxxx. All Policy claims shall be investigated, processed and paid in each caseaccordance with the policies and procedures mutually agreed to by both parties. Xxxxxxx'x claim personnel shall be made available at Xxxxxxx'x expense to answer any questions that might arise from LMG's claims personnel relating to claims investigation, processing and payment of Policy claims. In addition to the Contractor will pay the Company the amount claimed (the “Claimed Amount”); provided that if and for so long asforegoing, in the case of this clause a decision by LMG that a Policy claim should be denied, LMG shall communicate its proposed action to appropriate Xxxxxxx personnel who must agree and approve the proposed claim denial before the claims decision is finalized. LMG will communicate appropriate details of any proposed claim denial in accordance with notification procedures to be jointly developed by the parties. If no response is received within five (ii)5) business days of transmission, (x) LMG shall have the Contractor or applicable Supporting Party is disputing its liability right to proceed on the claiming Customer under the applicable Supported Obligation and (y) the Contractor basis that Xxxxxxx is in compliance agreement with its obligations under Article V the decision to deny the claim. All claims paid by LMG from funds collected on behalf of this Agreement with respect to such dispute, then until such disputed liability has been determined or for Xxxxxxx shall be paid on only drafts or checks of and as authorized by a final non-appealable court judgment or arbitral award or pursuant to a written settlement or admission approved Xxxxxxx. All monies received by the Company and the Contractor, the Contractor’s obligation LMG to pay the Claimed Amount to the Company under this Section 4.01 shall not be deemed to have occurred and the Unused TE Support Commitment claims on behalf of Xxxxxxx shall be reduced by held in an amount administrative capacity. No deposits will be made into, nor disbursements made from this fiduciary account, with the exception of claims and claims adjustment expenses. This fiduciary account will at all times have a balance equal to the Claimed Amount (amount deposited less claims and claims adjustment expenses paid. LMG is responsible for all correspondence with the period of such suspension, a “Dispute Period”) claimant and (b) the first Business Day following any payment by the Company of a Claimed Amount under any TE Support Instrument, the Contractor will reimburse the Company the amount paid (the “Disbursed Amount”). A credit exposure fee will accrue on any Claimed Amount or Disbursed Amount that is not paid by the time required by the preceding sentence (after giving effect to any Dispute Period) (an “Outstanding Amount” and when the Outstanding Amount (excluding Claimed Amounts during a Dispute Period) shall at any time exceed $1,000,000 in the aggregate, a “Payment Failure Event” shall be deemed to have occurred) at a per annum rate equal to the current interest rate determined at the default rate preparation of the funded term loans under claim checks. For those claims referred to Xxxxxxx by LMG, LMG will provide Xxxxxxx with copies of the Credit Agreement, which fee shall accrue daily and be payable in cash upon demand.following: