Common use of Valuation - Settlement Clause in Contracts

Valuation - Settlement. Subject to the CyberRisk Policy Aggregate Limit, and the applicable limit of insurance for each Single First Party Insured Event set forth in ITEM 5 of the Declarations, the Company will pay the Insured Organization for: 1. loss of Money, or loss payable in Money, in, at the option of the Insured Organization, the Money of the country in which the Single First Party Insured Event took place or in the United States of America dollar equivalent thereof determined at the rate of exchange published by the Wall Street Journal at the time of payment of such loss. 2. loss of Securities, but only up to and including their value at the close of business on the day the Single First Party Insured Event was Discovered, and at the Company’s option: a. pay the Insured Organization the value of such Securities or replace them in kind, in which event the Insured Organization must assign to the Company all the Insured Organization’s rights, title and interest in those Securities; or b. pay the cost of any Lost Securities Bond required in connection with issuing duplicates of the Securities; provided, the Company will be liable only for the cost of the Lost Securities ▇▇▇▇ as would be charged for a bond having a penalty not exceeding the lesser of the value of the Securities at the close of business on the day the Single First Party Insured Event was Discovered. 3. loss of, or loss from damage to, Other Property or premises including its exterior for the replacement cost without deduction for depreciation; provided, the Company will pay the Insured Organization the lesser of the following: a. the applicable limit of insurance for each Single First Party Insured Event set forth in ITEM 5 of the Declarations; b. the cost to replace Other Property or premises including its exterior with property of comparable material and quality, and used for the same purpose; or c. the amount the Insured Organization actually spends that is necessary to repair or replace such property,

Valuation - Settlement. Subject to the CyberRisk Policy Aggregate Limit, and the applicable limit a. The value of insurance any loss for each Single First Party Insured Event set forth in ITEM 5 purposes of the Declarations, the Company will pay the Insured Organization forcoverage under this policy shall be determined as follows: (1) Loss of “money” but only up to and including its face value. loss of Money, or loss payable in Money, inThe “insurer” will, at the option “company’s” option, pay for loss of “money” issued by any country other than the Insured Organization, United States of America: (a) At face value in the Money of the country in which the Single First Party Insured Event took place or in “money” issued by that country; or (b) In the United States of America dollar equivalent thereof determined at by the rate of exchange published by the in The Wall Street Journal at on the time of payment of such lossday the loss was “discovered”. (2. loss ) Loss of Securities, “securities” but only up to and including their value at the close of business on the day the Single First Party Insured Event loss was Discovered“discovered”. The “insurer” may, and at the Company’s its option: a. pay (a) Pay the Insured Organization the market value of such Securities “securities” or replace them in kind, in which event the Insured Organization “company” must assign to the Company “insurer” all the Insured Organization’s rights, title and interest in and to those Securities“securities”; or b. pay or (b) Pay the cost of any Lost Securities Bond required in connection with issuing duplicates of the Securities; provided“securities”. However, the Company “insurer” will be liable only for the payment of so much of the cost of the Lost Securities ▇▇▇▇ bond as would be charged for a bond having a penalty not exceeding the lesser of the the: i. Market value of the Securities “securities” at the close of business on the day the Single First Party Insured Event loss was Discovered“discovered”; or ii. The Limit of Insurance applicable to the “securities”. (3. loss of, ) Loss of or damage to “other property” or loss from damage to, Other Property to the “premises” or premises including its exterior for the replacement cost of the property without deduction for depreciation; provided. However, the Company “insurer” will not pay more than the Insured Organization the lesser least of the following: a. the applicable limit of insurance for each Single First Party Insured Event set forth in ITEM 5 of the Declarations; b. the (a) The cost to replace Other Property the lost or premises including its exterior damaged property with property of comparable material and quality, quality and used for the same purpose; or; c. the (b) The amount the Insured Organization “company” actually spends that is necessary to repair or replace such the lost or damaged property,; or (c) The Limit of Insurance applicable to the lost or damaged property. (a) Until the lost or damaged property is actually repaired or replaced; and (b) Unless the repairs or replacement are made as soon as reasonably possible after the loss or damage. b. The “insurer” will, at the “company’s” option, settle loss or damage to property other than “money”: (1) In the “money” of the country in which the loss or damage occurred; or (2) In the United States of America dollar equivalent of the “money” of the country in which the loss or damage occurred determined by the rate of exchange published in The Wall Street Journal on the day the loss was “discovered”. c. Any property that the “insurer” pays for or replaces becomes the “insurer’s” property.