Common use of Operating Losses Clause in Contracts

Operating Losses. Schedule 3.29 sets forth any Operating Loss (as ----------------- -------------- defined below) that has occurred at Palomar and Service Corporation during the period after December 31, 1996. To the best of Palomar's knowledge, except as set forth on Schedule 3.29, since December 31, 1996, no event has occurred, and ------------- no action has been taken or omitted to be taken by any employee of Palomar or Service Corporation that has resulted in the occurrence by Palomar or Service Corporation of an Operating Loss or that might reasonably be expected to result in the occurrence by Palomar or Service Corporation of an Operating Loss after December 31, 1996, which, net of any insurance proceeds payable in respect thereof, exceeds, or would exceed $25,000 by itself or $50,000 when aggregated with all other Operating Losses during such period. For purposes of this Agreement, "Operating Loss" means any loss resulting from cash shortages, lost or misposted items, disputed clerical and accounting errors, forged checks, payment of checks over stop payment orders, counterfeit money, wire transfers made in error, theft, robberies, employee dishonesty, defalcations, check kiting, fraudulent use of credit cards or electronic teller machines, civil money penalties, fines, litigation, claims, arbitration awards or other similar acts or occurrences.

Operating Losses. Schedule 3.29 sets forth any Operating Loss (as ----------------- -------------- ------------- defined below) that has occurred at Palomar and Service Corporation during the period after December 31, 1996. To the best of Palomar's knowledge, except as set forth on Schedule 3.29, since December 31, 1996, no event has occurred, and ------------- no action has been taken or omitted to be taken by any employee of Palomar or Service Corporation that has resulted in the occurrence by Palomar or Service Corporation of an Operating Loss or that might reasonably be expected to result in the occurrence by Palomar or Service Corporation of an Operating Loss after December 31, 1996, which, net of any insurance proceeds payable in respect thereof, exceeds, or would exceed $25,000 by itself or $50,000 when aggregated with all other Operating Losses during such period. For purposes of this Agreement, "Operating Loss" means any loss resulting from cash shortages, lost or misposted items, disputed clerical and accounting errors, forged checks, payment of checks over stop payment orders, counterfeit money, wire transfers made in error, theft, robberies, employee dishonesty, defalcations, check kiting, fraudulent use of credit cards or electronic teller machines, civil money penalties, fines, litigation, claims, arbitration awards or other similar acts or occurrences.

Operating Losses. Section 3.30 of the Company Disclosure Schedule 3.29 sets forth any Operating Loss (as ----------------- -------------- defined below) that has occurred at Palomar and Service Corporation the Company during the period after December 31, 19962014, to the date of this Agreement. To the best of Palomar's knowledge, except Except as set forth on Schedule 3.29Section 3.30 of the Company Disclosure Schedule, since December 31, 1996to its Knowledge, no event has occurred, and ------------- no action has been taken or omitted to be taken by any employee of Palomar or Service Corporation the Company that has resulted in the occurrence incurrence by Palomar or Service Corporation the Company of an Operating Loss or that might reasonably be expected to result in the occurrence incurrence by Palomar the Company or Service Corporation any of its Subsidiaries of an Operating Loss after December 31, 1996the date hereof, which, net of any insurance proceeds payable in respect thereof, exceeds, or would exceed $25,000 by itself individually or $50,000 when aggregated with all other Operating Losses Losses, $50,000 during such period. For purposes of this Agreement, "“Operating Loss" ” means any individual loss resulting from cash shortages, lost or misposted items, disputed clerical and accounting errors, forged checks, payment of checks over stop payment orders, counterfeit money, wire transfers made in error, theft, robberies, employee dishonesty, defalcations, check kiting, fraudulent use of credit cards or electronic teller machines, civil money penalties, fines, litigation, claims, arbitration awards or other similar acts or occurrences.

Operating Losses. Section 3.29 of the Tri-Valley Disclosure Schedule 3.29 sets forth any Operating Loss (as ----------------- -------------- defined below) that has occurred at Palomar and Service Corporation Tri-Valley during the period after December 31, 19962015, to the date of this Agreement. To the best of Palomar's knowledge, except Except as set forth on Schedule 3.29Section 3.30 of the Tri-Valley Disclosure Schedule, since December 31, 1996to its knowledge, no event has occurred, and ------------- no action has been taken or omitted to be taken by any employee of Palomar or Service Corporation Tri-Valley that has resulted in the occurrence incurrence by Palomar or Service Corporation Tri-Valley of an Operating Loss or that might reasonably be expected to result in the occurrence incurrence by Palomar or Service Corporation Tri-Valley of an Operating Loss after December 31, 1996the date of this Agreement, which, net of any insurance proceeds payable in respect thereof, exceeds, or would exceed $25,000 by itself individually or $50,000 when aggregated with all other Operating Losses Losses, $50,000 during such period. For purposes of this Agreement, "“Operating Loss" ” means any individual loss resulting from cash shortages, lost or misposted items, disputed clerical and accounting errors, forged checks, payment of checks over stop payment orders, counterfeit money, wire transfers made in error, theft, robberies, employee dishonesty, defalcations, check kiting, fraudulent use of credit cards or electronic teller machines, civil money penalties, fines, litigation, claims, arbitration awards or other similar acts or occurrences.

Operating Losses. Schedule 3.29 3.32 sets forth any individual Operating Loss (as ----------------- -------------- defined below) in excess of $1,000 that has occurred at Palomar and Service Corporation KRBHC or KRB during the period after December 31, 19961998. To the best of Palomar's knowledge, except Except as set forth on Schedule 3.293.32, since December 31, 19961998, no event has occurred, and ------------- no action has been taken or omitted to be taken by any employee of Palomar either KRBHC or Service Corporation KRB that has resulted in the occurrence by Palomar KRBHC or Service Corporation KRB of an Operating Loss or that might reasonably be expected to result in the occurrence by Palomar KRBHC or Service Corporation KRB of an Operating Loss after December 31, 19961998, which, net of any insurance proceeds payable in respect thereof, exceeds, or would exceed $25,000 10,000 by itself or $50,000 when aggregated with all other Operating Losses during such period. For purposes of this Agreement, "Operating Loss" means any loss resulting from cash shortages, lost or misposted items, disputed clerical and accounting errors, forged checks, payment of checks over stop payment orders, counterfeit money, wire transfers made in error, theft, robberies, employee dishonesty, defalcations, check kiting, fraudulent use of credit cards or electronic teller machines, civil money penalties, fines, litigation, claims, arbitration awards or other similar acts or occurrences.

Operating Losses. Section 3.30 of the Presidio Disclosure Schedule 3.29 sets forth any Operating Loss (as ----------------- -------------- defined below) that has occurred at Palomar and Service Corporation Presidio during the period after December 31, 19962016, to the date of this Agreement that exceeds $100,000. To the best of Palomar's knowledge, except Except as set forth on Schedule 3.29Section 3.30 of the Presidio Disclosure Schedule, since December 31, 1996to the knowledge of Presidio, no event has occurred, and ------------- no action has been taken or omitted to be taken by any employee of Palomar or Service Corporation Presidio that has resulted in the occurrence incurrence by Palomar or Service Corporation Presidio of an Operating Loss or that might reasonably be expected to result in the occurrence incurrence by Palomar or Service Corporation Presidio of an Operating Loss after December 31, 1996the date of this Agreement, which, net of any insurance proceeds payable in respect thereof, exceeds, or would exceed $25,000 by itself 100,000 individually or $50,000 when aggregated with all other Operating Losses Losses, $250,000 during such period. For purposes of this Agreement, "“Operating Loss" ” means any individual loss resulting from cash shortages, lost or misposted incorrectly posted items, disputed clerical and accounting errors, forged checks, payment of checks over stop payment orders, counterfeit money, wire transfers made in error, theft, robberies, employee dishonesty, defalcations, check kiting, fraudulent use of credit cards or electronic teller machines, civil money penalties, fines, litigation, claims, arbitration awards or other similar acts or occurrences.