Common use of Valuation - Settlement Clause in Contracts

Valuation - Settlement. Subject to the applicable limit of liability set forth in the Information Pages, we will pay for: a. Loss of money up to and including its face value. b. Loss of securities up to and including their value at close of business on the day of loss discovery. We may, at our option: 1.) Pay the value of such securities or replace them in kind, in which event you must assign to us all your rights, title and interest in and to those securities; 2.) Pay the cost of any lost securities bond required for issuing duplicates. However, we will be liable only up to the lesser of the: i. Securities' value at close of business on the day of discovery; or ii. Limit of liability for this coverage. c. Loss of, or loss from damage to, property other than money and securities or loss from damage to the covered location for not more than the least of the: 1.) Actual cash value of the property on the day of loss discovery; 2.) Cost of repairing the property or covered location; or 3.) Cost of replacing the property with property of like kind and quality.

Valuation - Settlement. Subject to the applicable limit of liability set forth in the Information Pages, we will pay for: a. Loss of money up to and including its face value. b. Loss of securities up to and including their value at close of business on the day of loss discovery. We may, at our option: 1.) Pay the value of such securities or replace them in kind, in which event you must assign to us all your rights, title and interest in and to those securities; 2.) Pay the cost of any lost securities bond required for issuing duplicates. However, we will be liable only up to the lesser of the: i. 1) Securities' value at close of business on the day of discovery; or ii. 2) Limit of liability for this coverage. c. Loss of, or loss from damage to, property other than money and securities or loss from damage to the covered location for not more than the least of the: 1.) Actual cash value of the property on the day of loss discovery; 2.) Cost of repairing the property or covered location; or 3.) Cost of replacing the property with property of like kind and quality.

Valuation - Settlement. Subject to the applicable limit of liability set forth in the Information Pages, we will pay for: a. Loss of money up to and including its face value. b. Loss of securities up to and including their value at close of business on the day of loss discovery. We may, at our option: 1.) Pay the value of such securities or replace them in kind, in which event you must assign to us all your rights, title and interest in and to those securities; 2.) Pay the cost of any lost securities bond required for issuing duplicates. However, we will be liable only up to the lesser of the: i. Securities' value at close of business on the day of discovery; or ii. Limit of liability for this coverage. c. Loss of, or loss from damage to, property other than money and securities or loss from damage to the covered location for not more than the least of the: 1.) Actual cash value of the property on the day of loss discovery; 2.) Cost of repairing the property or covered location; or 3.) Cost of replacing the property with property of like kind and quality.. 14266538.1

Valuation - Settlement. Subject to the applicable limit of liability set forth in the Information Pages, we will pay for: a. Loss of money up to and including its face value. b. Loss of securities up to and including their value at close of business on the day of loss discovery. We may, at our option: 1.) Pay the value of such securities or replace them in kind, in which event you must assign to us all your rights, title and interest in and to those securities; 2.) Pay the cost of any lost securities bond required for issuing duplicates. However, we will be liable only up to the lesser of the: i. 1) Securities' value at close of business on the day of discovery; or ii. 2) Limit of liability for this coverage. c. Loss of, or loss from damage to, property other than money and securities or loss from damage to the covered location for not more than the least of the: 1.) Actual cash value of the property on the day of loss discovery; 2.) Cost of repairing the property or covered location; or 3.) Cost of replacing the property with property of like kind and quality.. 14888089.1