The Excess Clause Samples
The Excess clause defines the portion of a loss or claim that the insured must pay before the insurer becomes liable to cover the remaining amount. In practice, this means that for each claim, the insured is responsible for costs up to a specified threshold, such as a fixed dollar amount or a percentage of the loss, and only amounts above this excess are paid by the insurer. This clause serves to reduce the insurer's exposure to minor or frequent claims, encourages the insured to take preventive measures, and helps keep insurance premiums more affordable.
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The Excess. The Insured will bear the first amount of each and every Claim up to the amount of the Excess specified in the Schedule.
The Excess. The insurance may be subject to an Excess of such monetary amount and on such terms as the Insurer and the Firm agree. Subject to clause 3.4, the Excess may be ‘self-insured’ or partly or wholly insured without regard to these minimum terms and conditions.
The Excess. Funding Account currently is maintained with The Bank of New York. The Trustee shall possess all right, title and interest in all funds and property from time to time on deposit in or credited to the Excess Funding Account and in all proceeds thereof. The Excess Funding Account shall be under the sole dominion and control of the Trustee. Except as expressly provided in this Agreement, the Servicer agrees that it shall have no right of setoff or banker's lien against, and no right to otherwise deduct from, any funds held in the Excess Funding Account for any amount owed to it by the Trustee, the Trust, any Certificateholder or any Series Enhancer. If, at any time, the Excess Funding Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within ten (10) Business Days (or such longer period, not to exceed thirty (30) calendar days, as to which each Rating Agency may consent) establish a new Excess Funding Account meeting the conditions specified above, transfer any funds and property to such new Excess Funding Account and from the date such new Excess Funding Account is established, it shall be the "Excess Funding Account." Funds on deposit in the Excess Funding Account shall at the direction of the Servicer be invested by the Trustee in Eligible Investments selected by the Servicer. All such Eligible Investments shall be held by the Trustee. The Trustee shall (i) hold each Eligible Investment that constitutes investment property through a securities intermediary, which securities intermediary shall agree with the Trustee that (A) such investment property shall at all times be credited to a securities account of the Trustee, (B) such securities intermediary shall treat the Trustee as entitled to exercise the rights that comprise each financial asset credited to such securities account, (C) all property credited to such securities account shall be treated as a financial asset, (D) such securities intermediary shall comply with entitlement orders originated by the Trustee without the further consent of any other person or entity, (E) such securities intermediary shall not agree with any person or entity other than the Trustee to comply with entitlement orders originated by any person or entity other than the Trustee, (F) such securities account and the property credited thereto shall not be subject to any lien or encumbrance on, security interest in, or right of set-off in favor of such securities intermediary or any...
The Excess. Any additional travel and accommodation expenses incurred where the means of transport and/ or accommodation used is of a standard superior to that of the outbound leg of the Journey.
The Excess. A missed departure caused by strike or industrial action that could be reasonably expected when the Journey was booked.
The Excess. Electrical Charges shall be equal to the product of (i) the Excess Electricity Usage multiplied by (ii) the dollar amount charged by ------------- the electric company to provide the Excess Electricity Usage.