Loss Notice Sample Clauses

Loss Notice. 8 ARTICLE 17 - LOSS SETTLEMENTS.....................................................................................9 ARTICLE 18 - OFFSET...............................................................................................9

Loss Notice. If the Purchaser reasonably determines that it has a Claim, the Purchaser shall give a written notice of such determination to the Escrow Agent and to the Vendor, setting out the reasons for the dispute as well as the amount under dispute and reasonable details of the calculation of such amount (a "Loss Notice"); Upon receipt of a Loss Notice, the Escrow Agent shall promptly notify the Vendor and RBI in writing that it has received a Loss Notice, including a copy thereof, and shall set aside from the Escrow Amount the amount claimed in the Loss Notice. The Escrow Agent shall hold the said amount until (i) it disburses such amount in accordance with Section 7(b) or is otherwise jointly instructed by the Purchaser and Vendor in writing pursuant to Section 6(a); or (ii) it disburses such amount in accordance with Section 7(b) or 7(c);

Loss Notice. PROOF-LEGAL PROCEEDINGS This bond is for the use and benefit only of the Insured named in the Declarations and the Underwriter shall not be liable hereunder for loss sustained by anyone other than the Insured unless the Insured, in its sole discretion and at its option, shall include such loss in the Insured's proof of loss. At the earliest practicable moment after discovery of any loss hereunder the Insured shall give the Underwriter written notice thereof and shall also within six months after such discovery furnish to the Underwriter affirmative proof of loss with full particulars. If claim is made under this bond for loss of securities or shares, the Underwriter shall not be liable unless each of such securities or shares is identified in such proof of loss by a certificate or bond number or, where such securities or shares are uncertificated, by such identification means as agreed to by the Underwriter. The Underwriter shall have thirty days after notice and proof of loss within which to investigate the claim, but where the loss is clear and undisputed, settlement shall be made within forty-eight hours; and this shall apply notwithstanding the loss is made up wholly or in part of securities of which duplicates may be obtained. Legal proceedings for recovery of any loss hereunder shall not be brought prior to the expiration of sixty days after such proof of loss is filed with the Underwriter nor after the expiration of twenty-four months from the discovery of such loss, except that any action or proceeding to recover hereunder on account of any judgment against the Insured in any suit mentioned in General Agreement C or to recover attorneys' fees paid in any such suit, shall be begun within twenty-four months from the date upon which the judgment in such suit shall become final. If any limitation embodied in this bond is prohibited by any law controlling the construction hereof, such limitation shall be deemed to be amended so as to be equal to the minimum period of limitation permitted by such law. Discovery occurs when the Insured (a) becomes aware of facts, or (b) receives written notice of an actual or potential claim by a third party which alleges that the Insured is liable under circumstance which would cause a reasonable person to assume that a loss covered by the bond has been or will be 41206 (9/84) incurred even though the exact amount or details of loss may not be then known.

Loss Notice. If the Buyer determines, in its sole discretion, that it has a Claim, then the Buyer shall give a written notice of such determination to the Escrow Agent and to the Seller, setting out the reasons for the Claim as well as a good faith estimate of the amount of the Claim (the “Claim Amount”) and reasonable details of the calculation of such Claim Amount (a “Loss Notice”). Upon receipt of a Loss ​ ​ Notice, the Escrow Agent shall promptly notify the Seller in writing that it has received a Loss Notice, including a copy thereof, and shall set aside from the Escrow Amount the Claim Amount in the Loss Notice, up to the amount of funds then in in the Escrow Account. The Escrow Agent shall hold such amount until it disburses such amount in accordance with Section 6.

Loss Notice. If NewLead reasonably determines that it has a Claim, NewLead shall give a written notice of such determination to the Escrow Agent and to Grandunion, setting out the reasons for the dispute as well as the amount under dispute and reasonable details of the calculation of such amount (a “Loss Notice”); Upon receipt of a Loss Notice, the Escrow Agent shall promptly notify Grandunion in writing that it has received a Loss Notice, including a copy thereof, and shall set aside from the Escrow Amount the amount claimed in the Loss Notice. The Escrow Agent shall hold the said amount until it disburses such amount in accordance with Section 7(b) or is otherwise jointly instructed by Grandunion and NewLead in writing pursuant to Section 6(a);

Loss Notice. Any Losses shall be due by the Indemnifying Party to the Indemnifiable Party and shall be paid (or offset, if applicable) by the Indemnifying Party to the Indemnified Party within fifteen (15) Business Days after the receipt, by the Indemnifying Party, of written notice (“Loss Notice”) informing that: (i) in relation to Third-Party Claims, including Claims existing on the Closing Date: (a) a Final Decision demanding payment of the applicable Loss has been rendered in relation to a Third-Party Claim; or (b) a settlement has been reached with the Third Party in relation to a Claim, according to the terms of this Agreement; or (c) a Final Decision determining the Party responsible is rendered; provided that any expenses (including court costs and attorneys’ fees) related to a Third-Party Claim are paid by the Indemnifying Party as incurred, subject to the provisions of the Indemnification Basket below, by delivery of written notice including evidences of such expenses to the Indemnifying Party (“Expenses Notice”); or (ii) in relation to Direct Claims: (a) a Final Decision demanding payment of the applicable Loss is rendered in relation to a Direct Claim; or (b) a Final Decision determining the Party responsible is rendered; or (c) the Indemnifiable Party and the Indemnifying Party agree, in writing, or do not disagree that such indemnification is indisputable and due by one Party to the other Party, as applicable.

Loss Notice. (BRMA 26B) The Company shall advise the Reinsurer promptly of all losses which, in the opinion of the Company, may result in a claim hereunder and of all subsequent developments thereto which, in the opinion of the Company, may materially affect the position of the Reinsurer.