Total settlement Sample Clauses
The 'Total settlement' clause defines the process and terms under which all outstanding obligations or disputes between parties are fully resolved. Typically, this clause outlines the payment of a lump sum or the completion of specific actions that constitute a final resolution, ensuring that no further claims can be made regarding the settled matters. Its core function is to provide finality and certainty, preventing future disputes over the same issues and allowing both parties to move forward without lingering liabilities.
Total settlement. This is the downward movement during the test loading of the piles and may consist of closed deformation of the pile itself, deforming of the ground surrounding the pile and any movement of the piles through the ground
Total settlement. The Total Settlement for each Accounting Period shall equal (a) the Tentative Settlement for that Accounting Period, plus (b) the Experience Refund, if any, for that Accounting Period, MINUS (c) the cost for that Accounting Period of any Security provided by the Reinsurer in accordance with Article XVI - SECURITY. If the Total Settlement for an Accounting Period is greater than zero, then such Total Settlement shall be due and payable by the Reinsurer to the Company on the Settlement Date for that Accounting Period. If the Total Settlement is less than zero, then the absolute value of such Total Settlement shall be due and payable by the Company to the Reinsurer on the Settlement Date for that Accounting Period. ARTICLE X: NET RETAINED LINES 10.01 - APPLICATION OF OTHER REINSURANCE PROCEEDS: This Agreement applies only to that portion of insurance or reinsurance which, after the application of all reinsurance other than the reinsurance hereunder, the Company retains net for its own account. In calculating the amount of loss hereunder for which the Company shall be reimbursed, only the loss with respect to such retained portion shall be included.
Total settlement. The Total Settlement for each Accounting Period shall be calculated in accordance with Schedule D. If the Total Settlement for an Accounting Period is greater than zero, then such Total Settlement shall be due and payable by the Reinsurer to the Company on the Settlement Date for that Accounting Period. If the Total Settlement is less than zero, then the absolute value of such Total Settlement shall be due and payable by the Company to the Reinsurer on the Settlement Date for that Accounting Period. ARTICLE X: NET RETAINED LINES 10.01 -