Common use of Submission of Claim Clause in Contracts

Submission of Claim. As respects loss under insuring agreements 1 and/or 2, the Assured as a condition precedent to coverage hereunder shall submit to the Underwriter a claim for indemnification in the form of a proof of loss in respect of any amount of Ultimate Net Loss in excess of the amount borne by the Assured and for which the Underwriter may be liable under the policy within a reasonable period after the Assured shall have paid (or, if the property is not to be repaired or replaced, sustained), such amount. If any subsequent payments shall be made by the Assured or, if the property is not to be repaired or replaced, sustained with respect to matters covered by insuring agreements 1 and/or 2 as respects the same Occurrence, additional claims shall be made similarly from time to time. As respects loss under insuring agreement 3, the Assured as a condition precedent to coverage hereunder shall submit to the Underwriter a claim for indemnification in the form of a proof of loss in respect of any amounts of Ultimate Net Loss in excess of the amount borne by the Assured and for which the Underwriter may be liable under the policy within twelve (12) months after the Assured shall have paid such amount (irrespective of any rights the Assured may have regarding contribution, indemnification, other insurance or otherwise which may reduce the amount of such Ultimate Net Loss). Liability under insuring agreement 3 shall not attach unless and until the Assured’s liability covered hereunder shall have been fixed and rendered certain either by final judgment against the Assured or by settlement with prior approval in writing by the Underwriter. If any subsequent payments shall be made by the Assured with respect to the same Occurrence, additional claims shall be made similarly, and within twelve (12) months of such payment. The Underwriter shall indemnify the Assured upon adjustment and acceptance by Underwriter of a final proof of loss as to the amount in question, subject to such progress payments as the Underwriter shall determine to make upon terms and conditions satisfactory to Underwriter. For the avoidance of doubt, with respect to claims pursuant to insuring agreement 2a, 2b, 2c, 2d or 3, the Underwriter shall not be obligated to indemnify the Assured in respect of any amount until the Assured shall have paid such amount. With respect to claims under insuring agreement 1:

Submission of Claim. As respects loss under insuring reinsurance agreements 1 and/or 2, the Assured as a condition precedent to coverage hereunder shall submit to the Underwriter a claim for indemnification in the form of a proof of loss in respect of any amount of Ultimate Net Loss in excess of the amount borne by the Assured and for which the Underwriter may be liable under the policy within a reasonable period after the Assured shall have paid (or, if the property is not to be repaired or replaced, sustained), such amount. If any subsequent payments shall be made by the Assured or, if the property is not to be repaired or replaced, sustained sustained, with respect to matters covered by insuring reinsurance agreements 1 and/or 2 as respects the same Occurrence, additional claims shall be made similarly from time to time. As respects loss under insuring reinsurance agreement 3, the Assured as a condition precedent to coverage hereunder shall submit to the Underwriter a claim for indemnification in the form of a proof of loss in respect of any amounts of Ultimate Net Loss in excess of the amount borne by the Assured and for which the Underwriter may be liable under the policy within twelve (12) months after the Assured shall have paid such amount (irrespective of any rights the Assured may have regarding contribution, indemnification, other insurance or otherwise which may reduce the amount of such Ultimate Net Loss). Liability under insuring reinsurance agreement 3 shall not attach unless and until the Assured’s liability covered hereunder shall have been fixed and rendered certain either by final judgment against the Assured or by settlement with prior approval in writing by the Underwriter. If any subsequent payments shall be made by the Assured with respect to the same Occurrence, additional claims shall be made similarly, and within twelve (12) months of such payment. The Underwriter shall indemnify the Assured upon adjustment and acceptance by Underwriter of a final proof of loss as to the amount in question, subject to such progress payments as the Underwriter shall determine to make upon terms and conditions satisfactory to Underwriter. For the avoidance of doubt, with respect to claims pursuant to insuring reinsurance agreement 2a, 2b, 2c, 2d or 3, the Underwriter shall not be obligated to indemnify the Assured in respect of any amount until the Assured shall have paid such amount. With respect to claims under insuring reinsurance agreement 1:

Submission of Claim. As respects loss under insuring reinsurance agreements 1 and/or 2, the Assured as a condition precedent to coverage hereunder shall submit to the Underwriter a claim for indemnification in the form of a proof of loss in respect of any amount of Ultimate Net Loss in excess of the amount borne by the Assured and for which the Underwriter may be liable under the policy within a reasonable period after the Assured shall have paid (or, if the property is not to be repaired or replaced, sustained), such amount. If any subsequent payments shall be made by the Assured or, if the property is not to be repaired or replaced, sustained sustained, with respect to matters covered by insuring reinsurance agreements 1 and/or 2 as respects the same Occurrence, additional claims shall be made similarly from time to time. As respects loss under insuring reinsurance agreement 3, the Assured as a condition precedent to coverage hereunder shall submit to the Underwriter a claim for indemnification in the form of a proof of loss in respect of any amounts of Ultimate Net Loss in excess of the amount borne by the Assured and for which the Underwriter may be liable under the policy within twelve (12) months after the Assured shall have paid such amount (irrespective of any rights the Assured may have regarding contribution, indemnification, other insurance or otherwise which may reduce the amount of such Ultimate Net Loss). Liability under insuring reinsurance agreement 3 shall not attach unless and until the Assured’s liability covered hereunder shall have been fixed and rendered certain either by final judgment against the Assured or by settlement with prior approval in writing by the Underwriter. If any subsequent payments shall be made by the Assured with respect to the same Occurrence, additional claims shall be made similarly, and within twelve (12) months of such payment. The Underwriter shall indemnify the Assured upon adjustment and acceptance by Underwriter of a final proof of loss as to the amount in question, subject to such progress payments as the Underwriter shall determine to make upon terms and conditions satisfactory to Underwriter. For the avoidance of doubt, with respect to claims pursuant to insuring agreement 2a, 2b, 2c, 2d or 3, the Underwriter shall not be obligated to indemnify the Assured in respect of any amount until the Assured shall have paid such amount. With respect to claims under insuring agreement 1:.