LOSS AND LOSS EXPENSE Sample Clauses

LOSS AND LOSS EXPENSE. The Retrocessionaire shall be liable for fifty-five percent (55%) of all loss, loss adjustment expenses and other payment obligations as incurred by Retrocedant under the Reinsurance Contracts on and after the Effective Date.
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LOSS AND LOSS EXPENSE. Any loss settlement made by the Company, whether under strict Policy conditions or by way of compromise, shall be unconditionally binding upon the Reinsurer in proportion to its participation, and the Reinsurer shall benefit proportionally in all salvages and recoveries. The Reinsurer shall bear its proportionate share of expenses incurred by the Company in the investigation, adjustment, appraisal or defense of all claims under Policies reinsured hereunder (including claim-specific declaratory judgment expenses but excluding office expenses and salaries of officials of the Company) and shall receive its proportionate share of any recoveries of such expenses. The phrase "claim-specific declaratory judgment expenses," as used in this Agreement will mean all expenses incurred by the Company in connection with declaratory judgment actions brought to determine the Company's defense and/or indemnification obligations that are allocable to specific policies and claims subject to this Agreement. Declaratory judgment expense will be deemed to have been incurred by the Company on the date of the original loss (if any) giving rise to the declaratory judgment action.
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LOSS AND LOSS EXPENSE. Retrocessionaire shall be liable for eighty percent (80%), or as adjusted from time to time in accordance with Article 25, of all loss, loss adjustment expenses and other payment obligations as incurred by Retrocedant under such Reinsurance Contracts on and after the Effective Date net of all salvages and recoveries under inuring reinsurance. Notwithstanding the aforementioned, the Retrocessionaire's loss from any single Property Catastrophe Occurrence shall be subject to a per occurrence limit equal to $200,000,000. The parties agree that to the extent that the per occurrence limit is utilized, Retrocessionaire will forfeit the benefit from the Aggregate Stop Loss Reinsurance Retrocession Agreement obtained by Retrocedant on a dollar for dollar basis. For purposes of this Agreement, Property Catastrophe Occurrence shall mean each and every loss or series of losses arising out of any one event. However, the duration and extent of any "loss occurrence" so defined shall be limited to (i) 72 consecutive hours as regards a hurricane, a typhoon, windstorm, rainstorm, hailstorm and/or tornado; (ii) 72 consecutive hours and within the limits of one City, Town or Village as regards riots, civil commotions and malicious damage; or (iii) 168 consecutive hours for any other catastrophe of whatsoever nature. No individual loss from whatever insured peril, which occurs outside these periods or areas, shall be included in that "loss occurrence". The Retrocedant may choose the date and time when any such period of consecutive hours commences and if any event is of greater duration than the above periods, the Retrocedant may divide that event into two or more "loss occurrences", provided no two periods overlap and provided no period commences earlier than the date and time of the happening of the first recorded individual loss to the Retrocedant in that event.
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LOSS AND LOSS EXPENSE. Any loss settlement made by the Company, whether under strict Policy conditions or by way of compromise, shall be unconditionally binding upon the Reinsurer in proportion to its participation, and the Reinsurer shall benefit proportionally in all salvages and recoveries. The Reinsurer shall bear its proportionate share of all expenses incurred by the Company in the investigation, adjustment, appraisal or defense of all claims under Policies reinsured hereunder (excluding, however, office expenses and salaries of claims staff and officials of the Company) and shall receive its proportionate share of any recoveries of such expenses. Notwithstanding the above, expenses hereunder shall be limited to Actual Paid Loss Adjustment Expense or 8.0% of earned premiums (which ever is less), inclusive of legal, court and all other costs. Payment of Loss Adjustment Expense to Superior Adjusting Inc. will be through the monthly accounting statements at a rate of 7.5% of Earned Premium. An adjustment to Actual Loss Adjustment Expense or 8% of Earned Premium (which ever is less) will be made at the time of the Commission Adjustment.
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LOSS AND LOSS EXPENSE. Any loss settlement made by the Company, whether under strict Policy conditions or by way of compromise, shall be unconditionally binding upon the Reinsurer in proportion to its participation, and the Reinsurer shall benefit proportionally in all salvages and recoveries. The Reinsurer shall bear its proportionate share of all expenses incurred by the Company in the investigation, adjustment, appraisal or defense of all claims under Policies reinsured hereunder (excluding, however, office expenses and salaries of officials of the Company) and shall receive its proportionate share of any recoveries of such expenses. The Company will advise the Reinsurer by separate report, regardless of any question on liability or coverage, of any claim involving the following:
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LOSS AND LOSS EXPENSE. 7 ARTICLE 13 - EXCESS OF POLICY LIMITS.................................7
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LOSS AND LOSS EXPENSE. Any loss settlement made by the Company, whether under strict Policy conditions or by way of compromise, shall be unconditionally binding upon the Reinsurer in proportion to its participation, and the Reinsurer shall benefit proportionally in all salvages and recoveries. The Reinsurer shall bear its proportionate share of all expenses incurred by the Company in the investigation, adjustment, appraisal or defense of all claims under Policies reinsured hereunder (excluding, however, office expenses and salaries of officials of the Company) and shall receive its proportionate share of any recoveries of such expenses. Notwithstanding the above, expenses hereunder shall be limited to 5% of written premiums.
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LOSS AND LOSS EXPENSE. A. Losses shall be reported by the Company in summary form as hereinafter provided, but the Company shall notify the Reinsurer immediately when a specific case involves unusual circumstances or large loss possibilities. Further, the Company shall notify the Reinsurer whenever a claim involves a fatality, amputation, spinal cord damage, blindness, extensive bxxxx or multiple fractures, regardless of liability. The Reinsurer shall have the right to participate, at its own expense, in the defense of any claim or suit or proceeding involving this reinsurance. B. Any loss settlement made by the Company when within the Policy’s terms and conditions, shall be binding upon the Reinsurer and the Reinsurer agrees to pay or allow, as the case may be, its proportion of each such settlement in accordance with Article 5-
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Related to LOSS AND LOSS EXPENSE

  • Exclusions from Operating Expenses Notwithstanding anything in the definition of Operating Expenses in the Lease to the contrary, Operating Expenses shall not include the following, except to the extent specifically permitted by a specific exception to the following: (i) Any ground lease rental; (ii) Any capital cost other than the cost of capital improvements that are expressly permitted under Section 7.2.1(v) and Section 7.2.3(iv) (which costs shall be amortized and limited as provided in Section 7.2.1(v) and Section 7.2.3(iv) and shall be without duplication of any payments of Tenant otherwise provided herein); (iii) Rentals for items which if purchased, rather than rented, would constitute a capital cost which is specifically excluded under clause; (iv) Costs incurred by Landlord for the repair of damage to the Project; (v) Costs, including permit, license and inspection costs, incurred with respect to the installation of tenant or other occupants’ improvements in the Project or incurred in renovating or otherwise improving, decorating, painting or redecorating vacant space for tenants or other occupants of the Project or any other cost or expense which exclusively benefits another tenant in the Project; (vi) Depreciation, amortization and interest payments, except for amortization and interest in connection with capital costs that are expressly stated to be permissible Operating Expense hereunder and except on materials, tools, supplies and vendor-type equipment purchased by Landlord to enable Landlord to supply services Landlord might otherwise contract for with a third party, where such depreciation, amortization and interest payments would otherwise have been included in the charge for such third party’s services; (vii) Marketing costs, leasing commissions, attorneys’ fees in connection with the negotiation and preparation of letters, deal memos, letters of intent, leases, subleases or assignments, space planning costs, and other costs and expenses incurred in connection with lease, sublease or assignment negotiations and transactions with present or prospective tenants or other occupants of the Project; (viii) Costs incurred by Landlord due to the violation by Landlord or any other tenant of the terms and conditions of any lease of space in the Project; (ix) Interest, principal, points and fees on debts or amortization on any mortgage or mortgages or any other debt instrument encumbering the Building or the Project; (x) Any compensation paid to clerks, attendants or other persons in commercial concessions operated by Landlord; (xi) Advertising and promotional expenditures and costs of signs in or on the Building or Project identifying the owner of the Building or Project or other tenants’ signs; (xii) Costs arising from Landlord’s charitable or political contributions; (xiii) Costs for sculpture, paintings or other objects of art; (xiv) Costs associated with the operation of the business of the entity which constitutes Landlord as the same are distinguished from the costs of operation of the Project, including accounting and legal matters, costs of defending any lawsuits with any mortgagee (except as the actions of Tenant may be in issue), costs of selling, syndicating, financing, mortgaging or hypothecating any of Landlord’s interest in the Project, costs of any disputes between Landlord and its employees (if any) not engaged in Project operation, disputes of Landlord with Project management, or outside fees paid in connection with disputes with other tenants; (xv) Landlord’s general corporate overhead and general and administrative expenses (xvi) Costs of any “tap fees” or any sewer or water connection fees for the benefit of any particular tenant in the Project; (xvii) Any expenses incurred by Landlord for use of any portions of the Project to accommodate events including, but not limited to shows, promotions, kiosks, displays, filming, photography, private events or parties, ceremonies, and advertising beyond the normal expenses otherwise attributable to providing Project services; (xviii) Any entertainment, dining or travel expenses for any purpose; (xix) Any flowers, gifts, balloons, etc. provided to any entity whatsoever, including, but not limited to, Tenant, other tenants, employees, vendors, contractors, prospective tenants and agents; (xx) Any “finders fees”, brokerage commissions, job placement costs or job advertising costs; (xxi) Any “above-standard” cleaning, including, but not limited to construction cleanup or special cleanings associated with parties/events and specific tenant requirements in excess of service provided to Tenant, including related trash collection, removal, hauling and dumping; (xxii) The cost of any magazine, newspaper, trade or other subscriptions; (xxiii) The cost of any training or incentive programs, other than for tenant life safety information services; (xxiv) The cost of any “tenant relations” parties, events or promotion not consented to by an authorized representative of Tenant in writing; (xxv) “In-house” legal fees; (xxvi) Earthquake Insurance (unless required by Landlord’s lender); (xxvii) Tax penalties incurred as a result of Landlord’s negligence, inability or unwillingness to make payments or to file any tax or informational returns when due; (xxviii) Costs arising from construction defects in the structural components of the base, shell or core of the Project or Building; (xxix) Bad debt or rent losses; (xxx) Water, gas and heat, light, power, telephone service, trash collection and other services and utilities supplied exclusively to any other tenant in the Project; (xxxi) Notwithstanding any contrary provision of the Lease, including, without limitation, any provision relating to capital expenditures, any and all expenses and costs caused by or arising from the existence of hazardous materials or substances (as defined by applicable laws, rules and regulations now or subsequently applicable to the Project) in or about the Premises, the Building or the Project caused by or arising from the release of hazardous materials or substances, including, without limitation, hazardous substances in the ground water or soil, unless such expenses and costs are caused by or arise from Tenant or Tenant’s contractors or invitees; and (xxxii) Costs (including in connection therewith all attorneys’ fees and costs of settlement judgments and payments in lieu thereof) arising from claims, disputes or potential disputes in connection with potential or actual claims, litigation or arbitration pertaining to the Landlord or the Building or the Project. Any cost or expense excluded as a Project Operating Expense, Building Expense or Operating Expense shall be excluded as a Building Operating Expense, Project Operating Expense, or Operating Expense, whether incurred with respect to the Project or the Building, and any such expense shall be limited as provided in such provisions to the extent so limited, whether incurred with respect to the Project or the Building. Any costs in connection with the MAC Surviving Liabilities relating to building systems, utilities, and Landlord’s Work, including any obligation of Landlord to correct or repair any defect or deficiency thereof are hereby expressly excluded as Operating Expenses during the period for which such MAC Surviving Liabilities survive pursuant to the Umbrella Agreement; provided that with respect to Landlord’s Work completed in accordance with the obligations of the Landlord under the terms of this Lease, including the terms set forth in Section 8.4, during such period such costs are not excluded as Operating Expenses to the extent that they are deemed Building Operating Expenses pursuant to Section 7.2.1 above or Project Operating Expenses pursuant to Section 7.2.3 above. Landlord agrees that Landlord will not collect or be entitled to collect Operating Expenses from all of its tenants in an amount which is in excess of one hundred percent (100%) of the Operating Expenses actually paid by Landlord in connection with the operation of the Project. All assessments and taxes which are not specifically charged to Tenant because of what Tenant has done, which can be paid by Landlord in installments, shall be paid by Landlord in the maximum number of installments permitted by law if requested by Tenant and not included as Operating Expenses except in the year in which the assessment or tax is actually paid. In the event any facilities, services or utilities used in connection with the Building or the Project are provided from another building or project or area, the cost incurred by Landlord in connection therewith shall be allocated to Operating Expenses by Landlord on a reasonably equitable basis. Each time Landlord provides Tenant with an actual or estimated statement of Operating Expenses, such statement shall be itemized on a line item by line item basis, showing the applicable expense for the applicable year, the year prior to the applicable year, and the base year (if different). Landlord shall cause any retail and restaurant operations in the Project to be separately metered in order to facilitate the computation and allocation of Project Expenses.

  • Limit on Operating Expenses The Advisor hereby agrees to limit the Fund’s current Operating Expenses to an annual rate, expressed as a percentage of the Fund’s average daily net assets for the month, to the amounts listed in Appendix A (the “Annual Limit”). In the event that the current Operating Expenses of the Fund, as accrued each month, exceed its Annual Limit, the Advisor will pay to the Fund, on a monthly basis, the excess expense within the first ten days of the month following the month in which such Operating Expenses were incurred (each payment, a “Fund Reimbursement Payment”).

  • Insurance Costs (08/19) Contractor shall be financially responsible for all premiums, deductibles, self-insured retentions, and self-insurance.

  • Allocations of Income and Loss For each taxable year, each holder of Preferred Units will be allocated a portion of the Net Income and Net Loss of the Partnership equal to the portion of the Net Income and Net Loss of the Partnership that would be allocated to such holder pursuant to Article 6 of the Agreement if such holder held a number of Partnership Common Units equal to (i) the number of Preferred Units held by such holder, multiplied by (ii) 0.5. Upon liquidation, dissolution or winding up of the Partnership, the Partnership shall endeavor to allocate income and gain to the holders of the Preferred Units such that the Capital Accounts related to the Preferred Units are equal to their Liquidation Preference.

  • Net Loss A Net Loss for a particular fund or, in the case of a multi-class fund, a class results when aggregate Losses exceed aggregate Benefits (i.e., net redemptions on a day the fund’s or class’s NAV is overstated or net subscriptions on a day the fund’s or class’s NAV is understated) during the Error Period.