Interim Loss definition
Examples of Interim Loss in a sentence
If a Covered Event occurs during the Contract Year, but after December 31, at the direction of the SBA, Companies shall file an Interim Loss Report within 30 days after the Covered Event and Proof of Loss Reports quarterly thereafter.
At the direction of the SBA, the Company shall report its projected Ultimate Net Loss from each Loss Occurrence to provide information to the SBA in determining any potential liability for possible reimbursable losses under the Contract on the Interim Loss Report, Form FHCF-L1A, as adopted in Rule 19ER04-2 (19-8.029), F.A.C.
At the direction of the SBA, the Company shall report its projected Ultimate Net Loss from each Loss Occurrence to provide information to the SBA in determining any potential liability for possible reimbursable losses under the Contract on the Interim Loss Report, Form FHCF-L1A, as adopted in Rule 19-8.029, F.A.C.
If such accounting firm is unable, for any reason whatsoever, to reasonably estimate the amount of any claim comprising the Interim Loss Value, as a fixed amount or as a range of amounts, then Superholdings shall have no right to withhold any amount with respect to such claim.
If such accounting firm is able to reasonably estimate the amount of each claim comprising the Interim Loss Value, as a fixed amount or as a range of amounts, then the amount withheld shall equal the estimated fixed amount(s) and/or the maximum amount of such estimated range(s) of amounts for each claim comprising the Interim Loss Value.
The FHCF Interim Loss Report will be due in no less than fourteen days from the date of the notice from the SBA that such a report is required.
At the direction of the SBA, the RAP Insurer shall report its projected Ultimate Net Loss from each Covered Event to provide information to the SBA in determining any potential liability for possible reimbursable Losses under the Contract on the FHCF Interim Loss Report.
The Interim Loss Estimate Amount shall be revised as appropriate to reflect the resolution of any objections thereto pursuant to this Section 2.4(d)(ii), and, as so revised, such Interim Loss Estimate Amount shall be deemed to set forth the final Interim Loss Estimate Amount (and corresponding Interim Loss Indemnity Escrow Amount, Interim Loss Indemnity Threshold and Indemnity Threshold calculated on the basis thereof), in each case, for all purposes hereunder.
The determination of the Interim Loss Accounting Firm and the Interim Loss Counsel shall be conclusive and binding upon the Parties absent fraud or manifest error.
In order to quantify the actual value of the Interim Losses, after the Closing a national accounting firm, independent of the parties hereto and selected by Superholdings, shall attempt to estimate the amount of Interim Losses (the "Interim Loss Value").