Reserve Redundancy definition
Examples of Reserve Redundancy in a sentence
Such difference shall be called "Reserve Deficiency" if it is negative and "Reserve Redundancy" if it is zero or positive.
The final determination of such disputed items shall be considered in the determination of the Reserve Redundancy or Reserve Deficiency as provided in Section 2.4.
If, with respect to each --------------------------------- Reserve Determination Date, the amount of such Reserve Redundancy or such Reserve Deficiency, as the case may be, set forth in the Preliminary Report is equal to or less than Ten Thousand Dollars ($10,000), then the Reserve Deficiency or the Reserve Redundancy, as the case may be, set forth in the Preliminary Report shall be final, binding and conclusive on the parties.
Notwithstanding the naming of additional insureds, the insurance shall protect each insured in the same manner as though a separate policy had been issued to each, but nothing in this Section 4(A)(1) shall operate to increase the insurer's liability as set forth elsewhere in the policy beyond the amount or amounts for which the insurer would have been liable if only one person or interest had been named as insured.
If Purchaser (or the Company or such Subsidiary) shall elect to make such Claim Payment, such Claim Payment shall not be taken into account in the calculation of the Reserve Redundancy or Reserve Deficiency as provided in Section 2.4 to the extent that such Claim Payment is in excess of the Case Reserve for such Claim.