INDEMNIFICATION AND RECAPTURE Sample Clauses
The "Indemnification and Recapture" clause establishes the obligation of one party to compensate the other for certain losses or liabilities, and also provides a mechanism for reclaiming payments or benefits under specified circumstances. In practice, this clause typically requires a party to reimburse the other for damages, legal costs, or claims arising from breaches, misconduct, or specific events, while the recapture aspect allows for the recovery of previously paid amounts if conditions change or errors are discovered. Its core function is to allocate financial risk between the parties and ensure that losses are fairly addressed and corrected, thereby promoting accountability and financial clarity in the contractual relationship.
INDEMNIFICATION AND RECAPTURE. 15 9.1 Reinsurer's Obligation to Indemnify........................15 9.2 Company's Obligation to Indemnify..........................15 9.3
INDEMNIFICATION AND RECAPTURE. 15
9.1 Reinsurer's Obligation to Indemnify 15 9.2 Company's Obligation to Indemnify 15 9.3 Certain Definitions and Procedures 15 9.4 Recapture Rights 16 ARTICLE X DISPUTE RESOLUTION 19
10.1 Other Disputes over Calculations 19
INDEMNIFICATION AND RECAPTURE. 24 ARTICLE 12: CLAIMS INVESTIGATIONS: PUNITIVE DAMAGES....................... 26 ARTICLE 13: ARBITRATION................................................... 27 8 ARTICLE 14: DELIVERIES AS OF THE EFFECTIVE DATE........................... 28
INDEMNIFICATION AND RECAPTURE. Reinsurer’s Obligation to Indemnify 11 9.2 Company’s Obligation to Indemnify 11 9.3 Certain Definitions and Procedures 11 9.4 Recapture Rights 12
INDEMNIFICATION AND RECAPTURE. Reinsurer’s Obligation to Indemnify 16 9.2 Company’s Obligation to Indemnify 17 9.3 Certain Definitions and Procedures 17 9.4 Security Trust Account and Recapture Rights 17
INDEMNIFICATION AND RECAPTURE