Loss Payment definition

Loss Payment. We will pay or make good any loss or damage covered under the insurance evidenced by this Certificate within 30 days after we reach agreement with you or the entry of final judgment, whichever is earlier. We will not be liable for any part of a loss which has been paid or made good by others. LEGAL ACTION AGAINST US: No one may bring legal action against us unless there has been full compliance with all terms of the insurance evidenced by this Certificate; and such action is brought within two years after you first have knowledge of a loss of or damage to Covered Property. TRANSFER RIGHTS OF RECOVERY AGAINST OTHERS TO US: If any person or organization to or from whom we make payment under the insurance evidenced by this Certificate has a right to recover damages from another, that right must be transferred to us. That person or organization must do everything necessary to assist us, and must do nothing after the loss or damage to hinder us in our recovery. PAIR, SET OR PARTS:

Loss Payment has the meaning given to it in Section 10.7.1.

Loss Payment means the amount of any Loss required to be paid by an Indemnifying Party under this Agreement;

Examples of Loss Payment in a sentence

• After the Shared Loss Payment Trigger is reached, not later than fifteen (15) days after the date on which the Receiver receives the Monthly Certificate, the Receiver shall pay to the Assuming Bank, in immediately available funds, an amount equal to eighty percent (80%) of the Monthly Shared-Loss Amount reported on the Monthly Certificate.

• After the Shared Loss Payment Trigger is reached, not later than fifteen (15) days after the date on which the Receiver receives the Monthly Certificate, the Receiver shall pay to the Assuming Institution, in immediately available funds, an amount equal to eighty percent (80%) of the Monthly Shared-Loss Amount reported on the Monthly Certificate.

• After the Shared Loss Payment Trigger is reached, not later than fifteen (15) days after the date on which the Receiver receives the Monthly Certificate, the Receiver shall pay to the Assuming Institution, in immediately available funds, an amount equal to eighty percent (80%) of the Monthly Shared- Loss Amount reported on the Monthly Certificate.

• Allocations of Outstanding Principal Balance Reduction Amounts relating to Additional Loss Payments to the reduction of the Outstanding Principal Balance shall be deemed to occur automatically on the date on which the relevant Additional Loss Payment is payable by the Issuer and without further action by any party.

• If a claim results from a weather related catastrophe or a major natural disaster, each claim handling deadline shown under the Duties After Loss and Loss Payment provisions is extended for an additional 15 days.

More Definitions of Loss Payment

Loss Payment means the amount to be paid prior to tax adjustment.

Loss Payment is defined in Section 7.1.

Loss Payment means a Loss Payment, as defined in the Series Supplement, with respect to the Notes.

Loss Payment means the portion of an incurred loss that is paid by the insurer.

Loss Payment means, as of each Payment Date, the sum of all Event Loss Payments due and payable as of a Payment Date with respect to all Loss Events; provided, that any Loss Payment shall not be greater than the Outstanding Principal Amount on the immediately prior Payment Date or the Effective Date, as applicable.

Loss Payment shall have the meaning specified in Article VII.

Loss Payment is defined in Section 11.2(f).