LOSS AND LOSS EXPENSE Clause Samples

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. With respect to Non NY Catastrophe Reinsurance Contracts, the Retrocessionaire shall be liable for seventy percent (70%) 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. With respect to NY Property Catastrophe Reinsurance Contracts, the Retrocessionaire shall be liable for sixty seven percent (67%) 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 $150,000,000. 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. 8 ARTICLE 15 - EXCESS OF POLICY LIMITS....................................... 8 ARTICLE 16 -
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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. 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 b▇▇▇▇ 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 the above, Operating Expenses shall not include the following: (i) Interest, principal, depreciation, and other lender costs and closing costs on any mortgage or mortgages, ground lease payments, or other debt instrument encumbering the Building; (ii) Any bad debt loss, rent loss, or reserves for bad debt or rent loss; (iii) Costs associated with operation of the business of the ownership of the Building or entity that constitutes Landlord or Landlord’s property manager, as distinguished from the cost of Building operations, including the costs of partnership or corporate accounting and legal matters; defending or prosecuting any lawsuit with any mortgagee, lender, ground lessor, broker, tenant, occupant, or prospective tenant or occupant; selling or syndicating any of Landlord’s interest in the Building; and disputes between Landlord and Landlord’s property manager; (iv) Landlord’s general corporate or partnership overhead and general administrative expenses, including the salaries of management personnel who are not directly related to the Building and primarily engaged in the operation, maintenance, and repair of the Building, except to the extent that those costs and expenses are included in the management fees; (v) Advertising, promotional expenditures and leasing expenses primarily directed toward leasing space in the Building; (vi) Leasing commissions, space-planning costs, attorney fees and costs, disbursements, and other expenses incurred in connection with leasing, other negotiations, or disputes with tenants, occupants, prospective tenants, or other prospective occupants of the Building, or associated with the enforcement of any leases; (vii) Charitable or political contributions; (viii) Costs for which Landlord is reimbursed; (ix) Fees paid to any affiliate or party related to Landlord to the extent such fees exceed the charges for comparable services rendered by unaffiliated third parties of comparable skill, stature and reputation in the same market; and (x) Any management fee payable to Landlord or any third parties in excess of five percent (5%) of the Operating Expenses. As to the costs of capital improvements, replacements, repairs, equipment and other capital costs, all such costs shall be included in Operating Expenses but shall be amortized over the reasonable useful life of such improvement, replacement, repair or equipment in accordance with generally accepted accounting principles together with interest at the prime rate on the unamortized balance.

  • 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) 0.625. 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.

  • Operating Expense Payments Landlord shall deliver to Tenant a written estimate of Operating Expenses for each calendar year during the Term (the “Annual Estimate”), which may be revised by Landlord from time to time during such calendar year. During each month of the Term, on the same date that Base Rent is due, Tenant shall pay Landlord an amount equal to 1/12th of Tenant’s Share of the Annual Estimate. Payments for any fractional calendar month shall be prorated.