Contractual Damages definition

Contractual Damages means damages or penalties, whether liquidated or otherwise, due or payable to the Issuer by the Project Participants pursuant to the terms of the Project Documents and shall include any termination payments, buyout payments, forfeiture by the Issuer of any advance/booking amount paid by any Project Participant.
View Source
Contractual Damages. Any amount owed according to the provisions of the Ceding Company’s Policy.
View Source

Examples of Contractual Damages in a sentence

  • Subject to the Extra Contractual Damages section of this provision, claims investigation expenses do not include expenses incurred by the Company as a result of a dispute or contest arising out of conflicting claims of entitlement to policy proceeds or benefits.

  • Subject to the Extra Contractual Damages section of this Article, claims investigation expenses do not include expenses incurred by the Company as a result of a dispute or contest arising out of conflicting claims of entitlement to policy proceeds or benefits.

  • Extra Contractual Damages In no event shall the Reinsurer participate in punitive, compensatory, or bad faith damages as described below, which are awarded against the Company as a result of an act, omission or course or conduct committed solely by the Company in connection with the insurance reinsured under this Agreement.

  • Extra Contractual Damages The Reinsurer shall not have liability for any punitive, exemplary, compensatory, statutory or similar damages, fines or penalties (“Extra Contractual Damages”) which are assessed against the Company as a result of acts, omissions or course of conduct committed solely or jointly by the Company and/or a third party other than the Reinsurer.

  • The arbitrators will have no authority to award punitive damages or exemplary damages, but consistent with Article 9.8, the arbitrators may allocate proportionate shares of Extra Contractual Damages to the parties.

  • The parties recognize that circumstances may arise in which the Reinsurer will share proportionately in Extra Contractual Damages awarded if the Reinsurer was a direct, active, decision making participant in the conduct that gives rise to the extra contractual liability.

  • Such circumstances are difficult to define in advance, but would generally be those situations in which the Reinsurer was an active party and, in writing, recommended, consented to, or ratified, in advance, the act or course of conduct of the Company that would result in the assessment of the Extra Contractual Damages.

  • In the event that any Loss paid on or after the Effective Date by or on behalf of Reinsured arising out of or relating to the Original Policies includes Extra Contractual Damages, the amount paid in respect of such Extra Contractual Damages shall be included in the calculation of Losses (and, indirectly, in the calculation of Net Losses) under this Contract.

  • NHIC assumes the obligation to pay all Extra Contractual Damages arising from acts, errors or omissions occurring before or after the Assumption Date.

  • Table of Contents ARTICLE VIII (cont’d) Extra Contractual Damages In no event shall the Reinsurer participate in Punitive, Compensatory, or Bad Faith Damages as described below, which are awarded against the Company as a result of an act, omission or course of conduct committed solely by the Company in connection with the insurance reinsured under this Agreement.