Defense Costs definition

Defense Costs has the meaning set forth in Section 13.

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Defense Costs means reasonable and necessary legal fees and expenses to which Underwriters consent in advance and which are incurred by or on behalf of the Insureds in defending, settling, appealing or investigating any Claim and the cost of appeal, supersedeas, injunction, attachment or similar bonds (provided, however, Underwriters shall have no obligation to apply for or furnish any bond for appeal, supersedeas, injunction, attachment or any similar purpose), but shall not include salaries, regular or overtime wages, fees or benefit expenses associated with Employees or the Insured Organization’s overhead expenses.

Defense Costs means reasonable and necessary fees (including attorneys' fees and experts' fees) and expenses incurred in the defense of a Claim and cost of attachment or similar bonds, but shall not include the wages, salaries, benefits or expenses of any directors, officers or employees of the Insured Organization.

Examples of Defense Costs in a sentence

• If Executive is held liable, then Executive agrees to reimburse the Company for all Defense Costs the Company paid to Executive or on Executive’s behalf.

• Each of the Seller, the Servicer, the Issuer and the Indenture Trustee acknowledge Section 4.06 of the Trust Agreement, and agree that the Trust shall reimburse the Insurer for all Insurer Defense Costs pursuant to the applicable provisions of the Indenture and the Sale and Servicing Agreement.

• Payment of the Defense Costs shall be the Company’s only obligation under this Section 13; provided, however, that nothing in this Section 13 shall be construed to limit either Party’s rights or obligations under any indemnification agreement or the Company’s organizational documents, as applicable.

• The Insurer shall not be obligated to defend or continue to defend a Claim, or to pay or reimburse Defense Costs, after the applicable Limit of Liability has been exhausted.

• In the event and to the extent that the Insureds shall not be entitled to payment of such Defense Costs under the terms and conditions of this Coverage Section, such payments by the Insurer shall be repaid to the Insurer by the Insureds, severally, according to their respective interests.

More Definitions of Defense Costs

Defense Costs means reasonable and necessary legal fees and expenses incurred by the Company, or by any attorney designated by the Company to defend any Insured, resulting from the investigation, adjustment, defense and appeal of a Claim. Defense Costs includes other fees, costs, costs of attachment or similar bonds (without any obligation on the part of the Company to apply for or furnish such bonds), but does not include salaries, wages, overhead or benefits expenses of any Insured.

Defense Costs means all fees and expenses incurred by any Covered Party, caused by and relating to the adjustment, investigation, defense, or litigation of a Claim to which this coverage applies, including attorney's fees, court costs, interest on judgments accruing after entry of judgment, and the time and travel expenses of the Litigation Manager for attendance at trials, mediations, arbitrations and settlement conferences. Defense Costs shall not include attorney fees or costs awarded to a prevailing plaintiff against the Covered Party.

Defense Costs means reasonable and necessary expenses consented to by us resulting solely from the investigation, defense and appeal of any “claim” or “regulatory proceeding” against you. Such expenses may include premiums for any appeal bond, attachment bond or similar bond. However, we have no obligation to apply for or furnish such bond.

Defense Costs means any costs, charges, bonds, fees and expenses, including reasonable attorneys' fees and fees of experts and consultants, reasonably incurred in the investigation, defense or prosecution of any Claim.

Defense Costs means the costs to investigate, defend or appeal a "written claim" or "suit" incurred by us or by an insured at our request and with our prior written consent. It includes attorneys' fees, expert fees and all other costs and expenses related to the investigation, settlement, defense or appeal of a "written claim" or "suit", including, without limitation, those payments set forth in SECTION II C. 1.; but it does not include loss of earnings, wages, salaries, overhead or benefit expense of the insured, or the insured’s employees, officers or independent contractors, or our officers, directors or employees, or any hourly or fixed fees paid to a claims administrator we may use to administer claims under this policy in place of our officers or employees. "Defense costs" do not include, and we will not pay, any fees or costs incurred by the insured without our prior written consent, including, without limitation, any fees and costs incurred prior to the date the "written claim", out of which such fees or costs arise, is first presented to us.

Defense Costs means reasonable and necessary fees, costs and expenses consented to by the Insurer (including premiums for any appeal bond, attachment bond or similar bond, but without any obligation to apply for or furnish any such bond) resulting solely from the investigation, adjustment, defense and appeal of a Claim against the Insureds, but excluding salaries of Officers or employees of the Company.

Defense Costs means reasonable and necessary fees and expenses incurred in the defense or appeal of a Claim. Defense Costs shall include the premium for any appeal, attachment or similar bond, provided that the Insurer shall have no obligation to issue such bond. Defense Costs shall not include any compensation, benefit expenses, or overhead of any Insureds.