Loss Sharing definition

Loss Sharing. All Subcontractors and Sub-subcontractors involved in a loss which arises from their negligence as reasonably determined by the Contractor, shall share equally in the first $10,000 of such loss. Primary and non-contributory: Any insurance provided under this Section 11.2 shall be endorsed to be primary and non-contributing with any insurance or self-insurance maintained by the Named Insureds and Additional Insureds. Loss Sharing: The limits of liablity provided under the commercial general liablity insurance apply collectively for all Named Insureds and Additional Insureds. Insurance Credits: The Contractor will deduct a credit, as specified by the AOC in consultation with the Contractor, from each Subcontract amount and any change order increasing the Subcontract amount, and the Contractor and Subcontractor agree that all insurance charges for any OCIP insurance have been removed from its cost of work and any duplication in insurance coverage will not be reimbursed.
Sample 1

Examples of Loss Sharing in a sentence

  • Loss Sharing Ratio In accordance with the ratio of the Musharakah Parties’ respective prevailing capital contribution for the Diminishing Musharakah Arrangement.

  • Neither the Commitment nor any other right or obligation hereunder may be assigned, pledged or otherwise transferred, in whole or in part, to any Person without the prior written consent of the other parties hereto, provided that, for the avoidance of doubt, GMAC may collect Loss Sharing Payments on behalf of, or direct that Loss Sharing Payments be made to, GMAC Subsidiaries.

  • For the avoidance of doubt, LLC shall not use the Loss Sharing Payment Account to pay the fees and expenses of GMAC or LLC in connection with the initial negotiation of and any subsequent negotiation, modification or amendment of this Agreement or any related Agreement.

  • LLC shall keep, or cause to be kept accurate books and records of account of LLC reflecting all transaction with respect to the Loss Sharing Payment Account.

  • Cross-Margining or Other Loss Sharing Arrangements of FICC: Agreement With or Without Priority Over this Agreement After Guaranty Payment is Made DTC/FICC/NSCC/OCC Multilateral Netting Contract and Limited Cross Guaranty Agreement dated January 1, 2003.

  • By: _ Print Name: Title: APPENDIX A [amended June 2014] Cross-Margining or Other Loss Sharing Arrangements of CME: Agreement With or Without Priority Over this Agreement After Guaranty Payment is Made CME/OCC/NYCC Cross-Margining Agreement dated June 7, 1993.

  • The Loan Underwriting, Servicing, and Loss Sharing Agreement will be in a standardized form, approved by RBS, and subject to amendment only with the prior approval of RBS.

  • Each participating Member will execute (a) the Lender's Agreement for the B&I Program, Form 4279-4 ("Lender's Agreement"), and (b) a contract with CFC providing for CFC to fulfill the Member's obligations under the Lender's Agreement ("Loan Underwriting, Servicing, and Loss Sharing Agreement").

  • In the event that any Membership Interest is transferred in accordance with this Agreement, the transferee shall succeed to the Capital Account and the Profit and Loss Sharing Percentage of the transferor Member to the extent such Capital Account related to the transferred interest.

  • Exhibit 5.3(a) 74 SCHEDULE Page Loans Subject to Loss Sharing under the Single Family Shared-Loss Agreement.....................................

Related to Loss Sharing

  • Job Sharing means the sharing by two or more persons of a position.

  • Cost sharing means the respective share of Total Project Costs to be contributed by the Applicant and by DOE. The percentage of Applicant Cost Share is to be applied to the Total Project Cost (i.e., the sum of Applicant plus DOE Cost Shares) rather than to the DOE contribution alone.

  • Sharing means the use by two or more persons, in an arrangement not involving resale, of a telecommunications service provided by a Telecommunications Provider.

  • group insurance means insurance, other than creditor’s group insurance and family insurance, whereby the lives of a number of persons are insured severally under a single contract between an insurer and an employer or other person; (“assurance collective”)

  • Revenue sharing means sharing tax increment proceeds as defined in ORS 457.470.

  • Car sharing start time means the time when the shared

  • pension means a pension or annual allowance paid under the Public Service Superannuation Act (PSSA), R.S., 1985, c. P-36, and any increases paid pursuant to the Supplementary Retirement Benefits Act, R.S., 1985, c. S-24 as it affects the PSSA. It does not include pensions payable pursuant to the Canadian Forces Superannuation Act, R.S., 1985, c. C-17, the Defence Services Pension Continuation Act, 1970, c. D-3, the Royal Canadian Mounted Police Pension Continuation Act , 1970, c. R-10, and the Royal Canadian Mounted Police Superannuation Act, R.S., 1985, c. R-11, the Members of Parliament Retiring Allowances Act, R.S. 1985, c. M-5, and that portion of pension payable to the Canada Pension Plan Act, R.S., 1985, c. C-8.

  • Profit Sharing Plan means a profit-sharing plan that is qualified pursuant to 26 U.S.C. § 401 of the Internal Revenue Code and subject to the Employee Retirement Income Security Act, and which provides for employer contributions in the form of cash, but not in the form of stock or other equity interests in a Medical Marijuana Business.

  • Car sharing period means the period of time that:

  • Group long-term care insurance means a long-term care insurance policy which is delivered or issued for delivery in this State and issued to:

  • Plan means any employee pension benefit plan (other than a Multiemployer Plan) subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA, and in respect of which the Borrower or any ERISA Affiliate is (or, if such plan were terminated, would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA.

  • Savings means the difference between the principal

  • Long-term care insurance means group insurance that is authorized by the retirement system for retirants, retirement allowance beneficiaries, and health insurance dependents, as that term is defined in section 91, to cover the costs of services provided to retirants, retirement allowance beneficiaries, and health insurance dependents, from nursing homes, assisted living facilities, home health care providers, adult day care providers, and other similar service providers.

  • Insurance means comprehensive insurance of the vehicle(s)/equipment and shall include insurance of the crew.

  • Multiple employer welfare arrangement means a multiple employer welfare arrangement

  • Reinsurance means the activity consisting in accepting risks ceded by an insurance undertaking or by another reinsurance undertaking or, in the case of the association of underwriters known as Lloyd's, the activity consisting in accepting risks, ceded by any member of Lloyd's, by an insurance or reinsurance undertaking other than the association of underwriters known as Lloyd's;

  • Welfare Plan means a “welfare plan” as defined in Section 3(1) of ERISA.

  • Loss Allocation Limitation As defined in Section 4.4(g).

  • Benefit Arrangement means at any time an employee benefit plan within the meaning of Section 3(3) of ERISA which is not a Plan or a Multiemployer Plan and which is maintained or otherwise contributed to by any member of the ERISA Group.

  • Retirement Plans means the retirement income, supplemental executive retirement, excess benefits and retiree medical, life and similar benefit plans providing retirement perquisites, benefits and service credit for benefits at least as great in the aggregate as are payable thereunder prior to a Change in Control;

  • Life insurance means insurance coverage on human lives including benefits of endowment and annuities, and may include benefits in the event of death or dismemberment by accident and benefits for disability income and unless otherwise specifically excluded, includes individually issued annuities.

  • Cafeteria plan means a written plan under which all participants are employees, and the participants may choose among two or more benefits consisting of cash and qualified benefits.

  • Excess Insurance means insurance purchased from an insurance company authorized or admitted in the State of New Jersey or deemed eligible by the Commissioner as a surplus lines insurer or from any other entity authorized to provide said coverage in this state pursuant to law, covering losses in excess of an amount set forth in insurance contracts on a specific occurrence, or per accident or annual aggregate basis.

  • Insurance Contract means a contract (other than an Annuity Contract) under which the issuer agrees to pay an amount upon the occurrence of a specified contingency involving mortality, morbidity, accident, liability, or property risk.

  • Seller 401(k) Plan has the meaning set forth in Section 5.5(e).

  • Welfare Benefit Plan means each welfare benefit plan maintained or contributed to by the Company, including, but not limited to a plan that provides health (including medical and dental), life, accident or disability benefits or insurance, or similar coverage, in which Executive was participating at the time of the Change in Control.