Covered Losses definition
Covered Losses means any and all losses, assessments, fines, penalties, administrative orders, obligations, judgments, amounts paid in settlement, costs, expenses, liabilities and damages (whether actual, consequential or punitive), including interest, penalties, reasonable court costs and attorney’s fees, disbursements and costs of investigations, deficiencies, levies, duties and imposts.
Covered Losses has the meaning set forth in Section 9.2(b).
Covered Losses means, subject to Section 9.7, losses, liabilities, claims, fines, deficiencies, damages, payments (including those arising out of any settlement or Judgment relating to any Proceeding), penalties and reasonable attorneys’ and accountants’ fees and disbursements; provided that in no event shall Covered Losses include any amounts in respect of Taxes for which indemnification may be sought pursuant to Section 6.1 or Section 6.2.
Examples of Covered Losses in a sentence
Each of the parties hereto agrees to use its commercially reasonable efforts to mitigate its respective Covered Losses upon and after becoming aware of any event or condition that would reasonably be expected to give rise to any Covered Losses that are indemnifiable hereunder.
More Definitions of Covered Losses
Covered Losses means those Claims payable by Aspen on or after the Effective Date with respect to the Subject Business, including all amounts payable in respect of Allocated Loss Adjustment Expenses, Reinsured Extra Contractual Obligations, and ex gratia payments for which the Reinsurer has provided its prior written consent or which are made by or at the express written direction of the Administrator; provided, that “Covered Losses” shall not include any Excluded Liabilities.
Covered Losses means all losses, liabilities, expenses or damages (including reasonable attorneys' fees and expenses) paid to any Third Party Claimant for claims or legal actions arising out of the Senior Loan or the Management Agreement or the performance of responsibilities, or taking of actions or decisions pursuant to either, but shall not include claims or actions to collect or enforce the Outside Financing or any other contractual obligation of the Company.
Covered Losses means Reinsurance Agreement Losses and Allocated Loss Adjustment Expenses.
Covered Losses means losses, Liabilities, claims, fines, deficiencies, damages, payments (including those arising out of any settlement or Judgment relating to any Proceeding), Taxes, penalties and expenses (including reasonable expenses of investigation and reasonable attorneys’ and accountants’ fees and disbursements and other reasonable out-of-pocket expenses incurred or payable in connection with any investigation, Action or Proceeding), incurred or suffered by an Indemnified Party as a result of any matter for which indemnity may be sought under Article VI or Article IX.
Covered Losses has the meaning ascribed to such term in Section 8.02(c)(iii).
Covered Losses means, subject to Section 9.7, losses, Liabilities, Taxes, claims, fines, deficiencies, damages, payments (including those arising out of any settlement or Judgment relating to any Proceeding), penalties and expenses (including reasonable expenses of investigation and reasonable attorneys’ and accountants’ fees and disbursements and other reasonable out-of-pocket expenses incurred or payable in connection with any investigation, Action or Proceeding), incurred or suffered by an Indemnified Party as a result of any matter for which indemnity may be sought under Article IX.
Covered Losses means any losses, liabilities, claims, fines, deficiencies, assessments, charges, damages, payments (including those arising out of any settlement or Judgment relating to any Proceeding), penalties and reasonable attorneys’, accountants’ and consultants’ fees and disbursements, in each case that are actually incurred, due and payable; provided that Covered Losses shall not include any consequential, special, incidental, indirect, punitive or similar damages, except to the extent such damages are awarded by a Judgment against, or paid by, an Indemnified Party pursuant to a Third Party Claim.