Commutation. This term means the estimation, payment, and complete discharge of all future obligations for Losses, regardless of future loss development. The final Commutation shall constitute a complete and final release of all obligations of the SBA with respect to Losses. Commutation may be per Covered Event or by Contract Year as determined by the FHCF.
Appears in 6 contracts
Samples: Reimbursement Contract, Reimbursement Contract, Reimbursement Contract
Commutation. This term means Commutation is the estimation, payment, and complete discharge of all future obligations for Losses, regardless of future loss development. The final Commutation commutation agreement shall constitute a complete and final release of all obligations of the SBA with respect to Losses. Commutation may be per Covered Event or by Contract Year as determined by the FHCFSBA.
Appears in 2 contracts
Samples: HCI Group, Inc., HCI Group, Inc.
