Basis of Settlement definition

Basis of Settlement means the method by which a claim is met. This will be either Reinstatement or Replacement or Indemnity according to the method specified in the Schedule in those Sections where a choice is available, or otherwise as stated in the appropriate Section.
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Basis of Settlement means the method by which a claim is met. This will be either Reinstatement and Replacement or Indemnity according to the method specified in the Schedule, or otherwise as stated in the appropriate Section.
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Basis of Settlement means the method by which a claim is met. This will be either Reinstatement or
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Examples of Basis of Settlement in a sentence

  • If such goods are obsolete, the Basis of Settlement whether or not such goods are replaced shall be the original cost to the Insured of such goods or the indemnity value, whichever is the lesser.

  • If such property is obsolete, the Basis of Settlement whether or not such property is replaced shall be the original cost to the Insured of such property or the indemnity value, whichever is the lesser.

  • However, if the loss is settled under the Alternative Basis of Settlement the Declared Value of the relevant item shall be 115% of the base value shown and the Insurable Amount shall be the total of the value at the time of the Damage of the Property insured by the item and the additional Costs B, C and D above.

  • Where the Alternative Basis of Settlement applies We will pay the value of the Property at the time of its destruction or the amount of the Damage including the cost of • complying with Public Authorities’ requirements • removing debris • professional fees as defined in Costs B, C and D above and subject to the provisions and exceptions applying to those costs.

  • General Property Section The cover We will pay You in accordance with the Basis of Settlement up to the Sum Insured for the cost of repairing or replacing Property Insured that is accidentally Damaged during the Period of Insurance.

  • Basis of Settlement AdjustmentsIn calculating the most the Insurer will pay for any one claim, adjustments shall be made in accordance with the following clauses.

  • For the purposes of the Basis of Settlement provision in these Sections, computer systems records include Electronic Data.

  • All other Property Insured that is Damaged For all other Property Insured that is Damaged We will pay for the Reinstatement or Replacement unless “Indemnity” is shown in the Schedule or You wish Us to pay the Indemnity cost for all or any of the Damaged Property Insured as the Basis of Settlement.

  • Where for any reason a payment cannot be made in accordance with 9.1 and 9.2 above our liability will be arrived at as if the Basis of Settlement had not been incorporated and will be subject to the terms and conditions of the policy wording including condition of Average (see General Condition 6).

  • Increased Building Costs means the difference between the cost of Reinstatement actually incurred in accordance with the Basis of Settlement provisions of this Section and the cost of Reinstatement that would have applied had the catastrophe event not occurred.


More Definitions of Basis of Settlement

Basis of Settlement means the method by which a claim is met. This will be either Reinstatement or Replacement or Indemnity according to the method You have selected and as specified in the Schedule in
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Basis of Settlement means the method by which a claim is met by Us. This will be either reinstatement, replacement or repair of the Damaged covered property, or indemnifying or paying You according
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Related to Basis of Settlement

  • ASX Settlement means ASX Settlement Pty Ltd (ABN 49 008 504 532);

  • Notice of Settlement means the form attached hereto as Exhibit A.

  • PJM Settlement or “PJM Settlement, Inc.” shall mean PJM Settlement, Inc. (or its successor), established by PJM as set forth in Section 3.3 of the Operating Agreement.

  • Structured settlement annuity means an annuity purchased in order to fund periodic payments for a plaintiff or other claimant in payment for or with respect to personal injury suffered by the plaintiff or other claimant.

  • Final Settlement means permanent settlement of the Contractor’s actual allowable costs or expenditures as determined at the time of audit, which shall be completed within three years of the date the year-end cost settlement report was accepted for interim settlement by the State. If the audit is not completed within three years, the interim settlement shall be considered as the final settlement.

  • Share Settlement means a number of shares of Class A Common Stock (together with any Corresponding Rights) equal to the number of Redeemed Units.

  • Net Share Settlement Amount: For any Settlement Date, an amount equal to the product of (i) the number of Warrants exercised or deemed exercised on the relevant Exercise Date, (ii) the Strike Price Differential for the relevant Valuation Date and (iii) the Warrant Entitlement.

  • Gross Settlement Fund means the Settlement Amount plus all interest earned thereon.

  • Viatical settlement broker means a person, including a life insurance producer as provided for in section 508E.3, who, working exclusively on behalf of a viator and for a fee, commission, or other valuable consideration, offers or attempts to negotiate viatical settlement contracts between a viator and one or more viatical settlement providers or one or more viatical settlement brokers. Notwithstanding the manner in which the viatical settlement broker is compensated, a viatical settlement broker is deemed to represent only the viator, and not the insurer or the viatical settlement provider, and owes a fiduciary duty to the viator to act according to the viator’s instructions and in the best interest of the viator. “Viatical settlement broker” does not include an attorney, certified public accountant, or a financial planner accredited by a nationally recognized accreditation agency who is retained to represent the viator and whose compensation is not paid directly or indirectly by the viatical settlement provider or purchaser.

  • Cash Settlement shall have the meaning specified in Section 14.02(a).

  • TARGET2 Settlement Day means any day on which the Trans-European Automated Real-Time Gross Settlement Express Transfer (TARGET2) System is open.

  • Resettlement means the impact of an involuntary taking of land under the Project, which taking causes affected persons to have their: (i) standard of living adversely affected; or (ii) right, title or interest in any house, land (including premises, agricultural and grazing land) or any other fixed or movable asset acquired or possessed, temporarily or permanently; or (iii) access to productive assets adversely affected, temporarily or permanently; or (iv) business, occupation, work or place of residence or habitat adversely affected, temporarily or permanently.

  • Physical Settlement shall have the meaning specified in Section 14.02(a).

  • Effective Date of Settlement means: the date on which all of the conditions to settlement set forth in § 2 of this Settlement Agreement have been fully satisfied or waived and the Settlement shall have become Final.

  • Net Settlement Fund means the Settlement Fund less: (i) any Taxes;

  • CCASS Settlement Day means the term “Settlement Day” as defined in the General Rules of CCASS.

  • Final Settlement Statement has the meaning set forth in Section 2.6(b).

  • Viatical settlement contract or “contract” means a written agreement entered into between a provider and a viator in which the provider will pay consideration that is less than the expected death benefit of the viator's policy in return for the viator's assignment, transfer, sale, devise, or bequest of the death benefit or ownership of the policy to the provider.

  • Individual Settlement Payment means the amount payable from the Net

  • Net Settlement Amount means the Gross Settlement Amount, less the following payments in the amounts approved by the Court: Individual PAGA Payments, the LWDA PAGA Payment, Class Representative Service Payment, Class Counsel Fees Payment, Class Counsel Litigation Expenses Payment, and the Administration Expenses Payment. The remainder is to be paid to Participating Class Members as Individual Class Payments.

  • ASX Settlement Operating Rules means the rules of ASX Settlement Pty Ltd which apply while the Company is an issuer of CHESS approved securities;

  • Cash Settlement Averaging Period means (a) with respect to any Conversion Date occurring on or after the 24th Scheduled Trading Day immediately preceding the Maturity Date, the twenty (20) consecutive Trading Day period ending on, and including, the third Scheduled Trading Day immediately preceding the Maturity Date and (b) in all other cases, the twenty (20) consecutive Trading Day period beginning on, and including, the third Trading Day immediately following the relevant Conversion Date.

  • Debit Payment means a particular transaction where a debit is made.

  • Resettlement Plan or “RP” means the resettlement plan for the Project, including any update thereto, prepared and submitted by the Borrower and cleared by ADB;

  • Settlement Cycle means the period of Clearance System Business Days following a transaction on the Relevant Exchange in the Underlying, during which period settlement will customarily take place according to the rules of such Relevant Exchange.

  • Gross Settlement Amount means Two Hundred Forty Thousand Dollars and Zero Cents ($240,000.00) which is the total amount Defendant agrees to pay under the Settlement. The Gross Settlement Amount will be used to pay Individual Settlement Payments, Individual PAGA Payments, the LWDA PAGA Payment, Class Counsel Fees Payment, Class Counsel Litigation Expenses Payment, Class Representative Service Payment, and the Administration Expenses.